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eric J's indicator free Emini journal
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eric J's indicator free Emini journal

  #21 (permalink)
Big game hunter
NY
 
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Longer timeframe charts for this week

Heres what I'm looking at on the ES and NQ this week .

The NQ broke the resistance from 6/10/09 but I see that the ES still has 20 points to go before hitting those levels .

Note to self .....

1. Watch for price bias and follow it or stand aside .

2. Insist on good volatile well formed countertrend signals at important price levels or stand aside .

3. Dont overthink entries , get in and out when it all makes sense .

Attached Thumbnails
eric J's indicator free Emini journal-nq-longer-timeframe-week-july-20-09.jpg   eric J's indicator free Emini journal-nq-longer-timeframe-week-july-20-09-closer-look.jpg   eric J's indicator free Emini journal-es-longer-timeframe-week-7-20-09.jpg  
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  #22 (permalink)
Big game hunter
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Todays trades

I took two trades today with one winner and one loser . + $25 - $10 comms = +$15 net .

The first one was played pretty well , got clipped on the trailing stop on the 2nd contract but followed my rule 100 %

The second one just plain stopped out . Form was good and entry was fair , the only negative was only one LL and one LH when the signal formed .

The third signal ( I passed on it ) of course produced a nice winner . The reason I passed was price was all over the place and I got spooked because price hesitated after the entry bar. I had a stop limit order 1 tick above the entry bar and cancelled it after it staggered for 5 bars - cautious .

Attached Thumbnails
eric J's indicator free Emini journal-7-20-09-trade-1.jpg   eric J's indicator free Emini journal-7-20-09-trade-2.jpg   eric J's indicator free Emini journal-got-caught-hesitating.jpg  
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  #23 (permalink)
Big game hunter
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I am recording all my data to replay when I make enough time to run through it . While I do that I make sure not to develop a bias so I ignore news especially about the markets .

I have been developing an indicator based strategy ( I havent given up on indicators ) that uses 2 timeframes , plain stochastics as an oscillator and plain EMA's as a trend indicator . It employs much of the price action trading I've been doing with an indicator confirmation and momentum entry / exit .
All the indicators have off the counter settings and no tweaks . I'm boiling down what is good and not so good about it and will start trading it soon . The goal here will be to finish manually backtesting it over the last 6 months , refine what needs to be changed then forward test it to see if it functions as expected without changing anything until I have a few sample batches to go over .

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  #24 (permalink)
Big game hunter
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This weeks longer timeframe charts

This is what I see on the ES and NQ for this week . I have the data from the last 2 weeks and havent traded it at all - very busy with deiveries and other manual labor activities .

ES looks like 1008 is major resistance and NQ 1632 recent resistance . This is the busiest time of the year for me and find it hard to focus completely and properly on trading while taking advantage of the higher demand my business sees until the end of summer .

Attached Thumbnails
eric J's indicator free Emini journal-week-8-3-09-es-longer-timeframe.jpg   eric J's indicator free Emini journal-wek-83-09-nq-longer-timeframe.jpg  
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  #25 (permalink)
Big game hunter
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ES SR levels for week of 9 7 09

This is the first week in a while for an update . I havent been trading but plan to do so as of now .

On the ES I see 1038 as major resistance and 1016 as major support . Last week price came up to meet 1016 after making a near perfect bowl shape throughout the week . Funny how price walked up to 1016 friday and stopped then walked through it sunday and monday - labor day .

I see 1027.75 as minor resistance - last weeks high . I'll keep an eye out at these levels and see if I can get some good entries with high probability if not then I'll keep looking .

I have been manually testing an indicator based strategy and will also look to employ it in some high probability setups . Its divergence based and I stared a thread in general discussions asking if anyone else trades with diverence and it seems the only one that uses anything divergence based is Big mike . If anyone is interested in divergence lets start some dialog in that thread and we can help one another , the best way to develop our skills is to share ideas and experiences .

Attached Thumbnails
eric J's indicator free Emini journal-es-sr-6765-tick-minor-sr.jpg   eric J's indicator free Emini journal-es-sr-week-9-6-09.jpg  
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  #26 (permalink)
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Awesome, I look forward to new journal updates

Mike

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  #27 (permalink)
Big game hunter
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Low volume chopfest

I didnt get involved until after the lunchbreak today to see what was going on with volume . I know that the December contract is diluting the September so it might be wise to keep the ears up until next friday and the dust settles after quad witching .

The 8 point range was a clue to shoot for 1 point profit on the first trade , but I didnt . That was a clear close above the pivot high on a double bottom that complimented my two longer timeframes . All looked good for long until a bar closing above the last bars high was snuffed out by a bar closing below the last bars low = exit asap please - 5 ticks .

The other trade was a divergence trade I took and dragged me into the bell and profitted + 6 ticks .

The screenshot says " plan was to exit if pice closed below pivot low" - it should read pivot high .

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eric J's indicator free Emini journal-9-8-09-long-double-bottom-5-ticks.jpg  
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  #28 (permalink)
Big game hunter
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ES Price action trades without indicators for 9 9 09

The two signals I liked today gave me a hard time with fills . The first was with the trend and was a break above consolidation of the uptrend . The signal triggered and closed with two CHPH bars ( CHPH ) occuring almost instantly and before I could put in a limit order price was gone goodbye - no chasing .

The second signal I got caught hesitating . Like the first , before I could put my order in price was gone - no chasing .

I took two divergence trades countertrend - an extended divergence with nice form on a 6765 tick - 11 ticks and a basic divergence on the 610 tick at support + 8 ticks .

Attached Thumbnails
eric J's indicator free Emini journal-9-9-09-no-fill-after-hesistating.jpg   eric J's indicator free Emini journal-9-9-09-no-fill-long-after-consolodation.jpg  
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  #29 (permalink)
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Nice Work !

Hey Eric,

I've been admiring your chart and was wondering if you could post the template so I can scutinize it some more.

Thanks, Jeff

I really like the 3 bar reversal !

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  #30 (permalink)
Big game hunter
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Thanks


Hi Jeff , thats the work of Big Mike himself . I got it from the NT forums. BTW I have to admit it is faulty in a way , the colors dont reload when you us it in a template , meaning that you have to set the colors manually - no biggie . Mike told me how to fix it but I am no coder and messed it up when I tried to fix the code , I deleted it and reloaded it and left it alone . If you can fix that , please do and pass it forward if you would thanks .

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