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The Land of Vegemite Trading Journal (intraday)
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The Land of Vegemite Trading Journal (intraday)

  #11 (permalink)
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pre-corrective market

did sweet FA trading yesterday as had some tax stuff to prepare for accountant. However, a pure structure based trade highlights importance of prep and structure

SPI
prep - as marked on 30M chart (purple circle) was calling this pre-corrective. typical number of legs is 3-5, and on SPI had had 3 into previous highs

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gap on open, pump fake off previous high - scalped off a quick short and covered just prior to gap close

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  #12 (permalink)
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Just some long stock call options exits today due to other commitments.

Just scalped off 6 ticks in the ES in a trade I otherwise would not have taken if it wasn't for a buy signal in an indicator I've been working on, so may as well post some details about using an indicator to take profits when price has expanded and mean reversion is likely

Looking at price action alone, the entry is "late" to me.
But when the indi kicked up from the smoothed line (which is trending up), I entered and whacked a sell order in where price is well expanded away from the moving averages, while the 20 has expanded away from the 50.

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Indicator interpretations
Together with market structure and bias, I'm using the indicator to help with:
staying on right side of trend
exit trends before they reverse (divergence + OB/OS)
take profits when signal line expands away from smoothed line as anticipating mean reversion in direction against trade

a few annotations on a chart to explain

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  #13 (permalink)
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kickmic View Post
Indicator interpretations
Together with market structure and bias, I'm using the indicator to help with:
staying on right side of trend
exit trends before they reverse (divergence + OB/OS)
take profits when signal line expands away from smoothed line as anticipating mean reversion in direction against trade

I'm finding this whole journal interesting and helpful, including the psychology comments. Very down to earth.

The reversions and divergences in the indicator look useful. Any hints about how you calculate the indicator lines? I'd like to play with them. Thanks!

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  #14 (permalink)
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twosigma View Post
I'm finding this whole journal interesting and helpful, including the psychology comments. Very down to earth.

cheers


twosigma View Post
The reversions and divergences in the indicator look useful. Any hints about how you calculate the indicator lines? I'd like to play with them. Thanks!

I've just messed about with things like MACD's and other oscillators changing default settings - nothing special - divergences will show up on a whole host of oscillators and as for mean reversion, expanded prices show up on the MA's I use on the chart which are just a 20 and 50

The point of mentioning my interpretations was to give other traders other ways in which one can interpret MA's and Indicators.

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  #15 (permalink)
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I'm a bit slow Monday mornings... looking at the indicator, not the price action, I shorted into an up trending MA. I flipped the position when I saw the pivot following my short confirmed an inside support zone - but even that entry if I'm honest was reactionary as it was pretty late and therefore increasing risk - the return v reward on that trade was inverted

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  #16 (permalink)
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Trapped Longs

SPI yesterday

tried for a break of the day highs, then flipped for a short, flipped again for another break of the highs, got stung, and then joined the right side of the market for a short with trapped longs fueling the position

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SPI today

looking at 30M (insert) to me looked like a setting up of potential trapped shorts
covered first entry for scratch
re-entered once price rolled over. Didn't cover at first price extension down, held through retracement to break of support and exited when I though there was going to bid a higher low forming. Every now and then I try holding for longer - but usually its best (for me) just to go with the first thrust (if there is an initial thrust). The time it can take for a move to develop I rarely have the patience for.

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Last edited by kickmic; October 29th, 2014 at 12:32 AM. Reason: added title
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  #17 (permalink)
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love it when prep becomes reality

see previous thread for pre-prep scenario

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  #18 (permalink)
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missing post but here it is SPI PREP 31-10-214

previous post trade was based on prepmarket prep as per below

was looking for a retest at areas marked below, and then a move to full volatility as only the second leg up post previous corrective phase


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  #19 (permalink)
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SPI prep 4-11 and update on yesterday

SO, from 30M chart below, still bullish bias, as long as 5482 can hold
would want to see short term MA's cycle upwards before initiating longs as the level is quite obvious now having been tested numerous times over last session (including ETH).

I have long index calls purchased yesterday at this level - should this level break, then this position will be covered

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  #20 (permalink)
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ASX and SPI


AGK.ASX stock trade via options

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SPI - still long calls after a sideways day yesterday

prep today - noticed the many rejections off the 200MA using a 200tick - bullish sign? still targeting the highs at 5530 ish

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and here's the 30M with my analysis summation

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