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Maletor's Daily Market Review


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Maletor's Daily Market Review

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  #11 (permalink)
 Big Mike 
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Maletor View Post
ES
+8

ZN
+8
+8
+8

Charts attached

Bravo!

Mike

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  #12 (permalink)
Maletor
Boston
 
 
Posts: 88 since Jun 2009
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Thanks Mike. Today was a very trendy day.

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  #13 (permalink)
 Todd 
Alpharetta, GA
 
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Maletor - what is the green and red histogram shown as a subgraph on your charts?

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  #14 (permalink)
Maletor
Boston
 
 
Posts: 88 since Jun 2009
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That's the 22 EMA/22 ZLag.
I've since replaced it with the Ergodic since they basically show me the same thing.

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  #15 (permalink)
Maletor
Boston
 
 
Posts: 88 since Jun 2009
Thanks: 7 given, 27 received

ES
+12 ticks

Calling it a day, good to take it easy after yesterday's huge sell off.

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  #16 (permalink)
Maletor
Boston
 
 
Posts: 88 since Jun 2009
Thanks: 7 given, 27 received

Ever heard the theory of how the market causes the most amount of pain to the most amount of people? Or how 99% lose at this business?

Well, translated to money management terms this just means that price seeks out the levels where the most amount of stop/market orders are. i.e. Support and resistance.

Our job in this business is to find the support and resistance. Play them on the right side, and eventually, the probabilities will lend themselves in our favor. That's all we do, no matter which way you spin it. Yes, I'm talking to you Tsunami trader and every other $5,000 indicator package out there.

So I've said to heck with indicators. I'm going to stick with what originally made me so profitable in the beginning. The 20EMA and plain old price action.

Here are my trades

ES
+4
+4 ticks

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  #17 (permalink)
 Big Mike 
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Maletor View Post
I've said to heck with indicators. I'm going to stick with what originally made me so profitable in the beginning.
Attached charts

It's a brave new world. Good hunting!

Mike

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  #18 (permalink)
 zeller4 
Orlando Florida
 
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WTG Maletor!


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  #19 (permalink)
Maletor
Boston
 
 
Posts: 88 since Jun 2009
Thanks: 7 given, 27 received

I got to check out early today.
3 winners today - I'm on fire. ES countertrend was a bit too risky for my appetite, but I took it regardless.

The first ZN was a micro trendline breakout failure. A little aggressive but in the direction of the gap fill so I was all for it.
Second ZN was the same thing. Buy the high of the breakout bar on failed break lower.

ES trade was when we had the huge swing high. Then we tried to go higher once making a higher high, and got denied. Tried again to go higher and again denied. Now, I'm looking to get going the other way, short.

Bar was a pinbar / gravestone doji and I shorted the lows of it.

Anyways, that's it for today.

ES
+4

ZN
+4
+4

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  #20 (permalink)
Maletor
Boston
 
 
Posts: 88 since Jun 2009
Thanks: 7 given, 27 received


Here are two ES trades I took this morning.

I've got to help some friends move into an apartment this afternoon so I'll be gone and I am going to be on my boat this weekend so this will be it until Monday.

ES
+4
+4

First trade, gap filled and double top were both things going in my direction. Just looking for a nice entry.
Second trade was top of channel. I wasn't seeing any bullish trendlines and I shorted 912.25 after the double inside bar, which was pretty tasty. Was considering swinging with another contract but I'm playing it safe seeing as I've been on such a hot streak.

It's true that luck comes in waves. Talk to any professional poker player. It's never win 2 lose 1 win 2 lose 1 win 2 lose 1.

Have a good weekend everyone!

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