Catching Big Waves - a trader's journal of surfing the the markets - futures io
futures io



Catching Big Waves - a trader's journal of surfing the the markets


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one GaryD with 3,654 posts (2,215 thanks)
    2. looks_two josh with 135 posts (120 thanks)
    3. looks_3 researcher247 with 123 posts (170 thanks)
    4. looks_4 Big Mike with 112 posts (228 thanks)
      Best Posters
    1. looks_one Big Mike with 2 thanks per post
    2. looks_two Deucalion with 2 thanks per post
    3. looks_3 researcher247 with 1.4 thanks per post
    4. looks_4 GaryD with 0.6 thanks per post
    1. trending_up 467,792 views
    2. thumb_up 3,681 thanks given
    3. group 140 followers
    1. forum 4,686 posts
    2. attach_file 1,117 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

Closed Thread
 
Search this Thread
 

Catching Big Waves - a trader's journal of surfing the the markets

(login for full post details)
  #851 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011


Started this thread

Can you help answer these questions
from other members on futures io?
Google Keyword Search Alerts
Traders Hideout
Brad Cowan
Trading Reviews and Vendors
Order Flow Trade Detector Alert Sound
NinjaTrader
DAX UP GAP
Emini and Emicro Index
Anchored VWAP on different timeframes
Platforms and Indicators
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Spoo-nalysis ES e-mini futures S&P 500
61 thanks
Why dont people trade 150 ES contracts?
38 thanks
How to work on strategy
26 thanks
Any long term success stories from funded traders in the …
26 thanks
How to avoid wiping out the accounts?
18 thanks
 
(login for full post details)
  #852 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011





The first thing I want to know, is what is the definition of significant volume in 6e. I know crude very well, and when you get over about 1000 contracts per 1 minute it is time to take notice. The 6E seems initially like it might be a little lower than that. The largest volume spike I see in the past 24 hours is around 630 contracts just before yesterday's US open. Crude is runnig at 83 on a 1440 minute average, but has been in consolidation mode, so that is probably low. I'm going to start with a minumum of 10x daily avg, or 300 contracts.





No, 250

Started this thread
 
(login for full post details)
  #853 (permalink)
 josh 
Legendary Market Wizard
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, Nikkei
 
josh's Avatar
 
Posts: 5,703 since Jan 2011
Thanks: 6,308 given, 15,782 received


ES found support at this trend line, and I am still bullish after yesterday's support at the low. Volume support came in around 31, and I expect it will be retested again. I will look to buy on a retest of the support. To clarify, the trend line was there; I'm not saying the trend line itself had anything to do with people buying there, though I'm sure some did. It was also a tick above yesterday's VPOC, where it popped to at the end of the day. Multiple reasons why people may buy there, just pointing out a couple.

Gary mentioned the magic number for 1m volume per instrument. For me in CL it was interested at 1K, VERY interested at 2K. For ES, it's interested at 10K, and very interested at 20K. I actually tried to short 37 after it failed, for a ride down, but was not filled and am sticking to the current plan instead of being divided in my intentions.

Attached Thumbnails
Click image for larger version

Name:	12.13.2011-12.16.48.png
Views:	59
Size:	51.2 KB
ID:	57190   Click image for larger version

Name:	12.13.2011-12.14.25.png
Views:	72
Size:	45.6 KB
ID:	57191  
 
(login for full post details)
  #854 (permalink)
 josh 
Legendary Market Wizard
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, Nikkei
 
josh's Avatar
 
Posts: 5,703 since Jan 2011
Thanks: 6,308 given, 15,782 received

Around 12:40pm, there was a move down to 33, and it based there and has now pushed back to test the open and the 37 area. I was not willing to buy 33, though I was tempted to as it based pretty well. It's entirely possible it will just move straight up from here, and I'm okay with that. From the profile as well, it looked like a point where it should find support. But the volume up is so low so far, and it still looks like there is more down to come before more up, though I could be way off.

Attached Thumbnails
Click image for larger version

Name:	12.13.2011-12.57.44.png
Views:	56
Size:	41.2 KB
ID:	57194  
 
(login for full post details)
  #855 (permalink)
 josh 
Legendary Market Wizard
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, Nikkei
 
josh's Avatar
 
Posts: 5,703 since Jan 2011
Thanks: 6,308 given, 15,782 received

One last post for now: I am aware that if we break 31 strongly, that buyers may support the 27 area instead. It is not inconceivable, as there was overnight support there, also yesterday afternoon after the big run-up, and the profile shows the nice area of balance that is basically from 27 to 31. It is clearly delineated from the lower balance of 21 to 25. It will depend on how price acts at 31, if we even make it there now.

Attached Thumbnails
Click image for larger version

Name:	12.13.2011-13.08.25.png
Views:	80
Size:	42.4 KB
ID:	57204  
 
(login for full post details)
  #856 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011

I was out all morning, but look at the direct hit to the green previous trendline. Textbook perfection.



Started this thread
 
(login for full post details)
  #857 (permalink)
 josh 
Legendary Market Wizard
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, Nikkei
 
josh's Avatar
 
Posts: 5,703 since Jan 2011
Thanks: 6,308 given, 15,782 received

bought 30.50

edit: closed at 33.75 ... saw sellers come in, will look to re-enter ... probably a big mistake closing there

EDIT: took one more long at 27, and took a -1 loss, so +1.75 on the two trades. A bit impulsive. Will wait a bit and see what happens next.

Attached Thumbnails
Click image for larger version

Name:	12.13.2011-14.26.26.png
Views:	68
Size:	38.0 KB
ID:	57209  
 
(login for full post details)
  #858 (permalink)
 josh 
Legendary Market Wizard
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, Nikkei
 
josh's Avatar
 
Posts: 5,703 since Jan 2011
Thanks: 6,308 given, 15,782 received

Well it turned bloody red quite fast ... my premise of a long was good enough to make me some money, but ultimately the wrong direction for the afternoon.

 
(login for full post details)
  #859 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011



I am watching for a breakout from this red triangle

Started this thread
 
(login for full post details)
  #860 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011


I've coded both sides of thie symmetrical triancgle red because I feel stronger about the short side for some reason. Price broke the major trendline recently (green line), then returned to the underside of it and stopped to the tick. Stop losses have now most likely gathered in two areas, indicated by two horizintal red lines, which I sometimes view as fuel to propel the market along it's way on the longer path. The blue horizontal lines represent an area of structural support, which may be strengthened with the addition of fib lines. I have not looked yet as the trendlines themselves are providing an interesting backdorp right now.

Started this thread

Closed Thread

futures io Trading Community Trading Journals > Catching Big Waves - a trader's journal of surfing the the markets


Last Updated on May 23, 2014


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts