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Day Time TJ for CL starting 2/22 with pre mkt & post-mortem analysis


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Day Time TJ for CL starting 2/22 with pre mkt & post-mortem analysis

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  #1 (permalink)
spartacus
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To all:

I've never posted my TJ anywhere other than for my own safe keeping; please bare with the possibility of initial lack of organization as I grow accustomed to the actions of technically posting my information to this forum.
It's an honor to post in a forum filled with benevolent and open minded Marketeers.

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 bluemele 
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spartacus View Post
To all:

I've never posted my TJ anywhere other than for my own safe keeping; please bare with the possibility of initial lack of organization as I grow accustomed to the actions of technically posting my information to this forum.
It's an honor to post in a forum filled with benevolent and open minded Marketeers.

Which one?
Marketeers = "Marketers of...."
Marketeers = "Market Playas'"

haha... Good luck and always nice to read another persons journal.

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 Big Mike 
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Congrats on starting the journal!

Can you tell me, was it because of the free iPad/tablet contest? I just like to keep track of which contests excite you guys

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spartacus
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Hi Mike,

I was a bit guilty for being lazy and shy about posting any info at futures.io (formerly BMT); I felt as though sooner or later I needed to do something. However, I must confess, the contest opened up a way for me to move forwad and interact with others at futures.io (formerly BMT). I'm not banking on winning as much as getting constructive criticism and, hopefully, contributing information which may be useful to others.

Spartacus

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spartacus
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Sorry for the late post. Today, no trades were taken but I continued with some market analysis during today's session and post it below.

Also, here is an introduction that explains my trading style and general techniques that I use to analyze the market.

Platform

Currently, I use Ninja for all charts including the order entry DOM. I’m using only Ninja native indicators and some small Ninja scripts that I’ve created for trivial stuff. I’m currently not using any 3rd party software..

Short summary of how I analyze and trade the market:
I use the general principles of Market Profile and general levels of support and resistance to trade by. The following is a list of the levels I watch closely during the day time market hours (For the sake of easier read of my 30Minute chart, I listed a legend of the abbreviations with which I use to identify various levels. The following is a legend of all abbreviations I use that label key areas:

1) Over Night High ---------------- onh
2) Over Night Low ----------------- onl
3) Yesterday’s High --------------- yh
4) Yesterday’s Low ---------------- yl
5) Current Open -------------------- co
6) Current Low ---------------------- cl
7) Current High --------------------- ch
8) Yesterday’s Settle -------------- ys
9) Point of Control ------------------ POC
10) Prior Point of Control ----------- PPOC (the prior business day’s or earlier)

Abbreviated terms:
1) Overnight -------------------------- o/n
2) PB ----------------------------------- Pull Back
3) ST ----------------------------------- Short Term
4) LT ----------------------------------- Long Term
5) TF ----------------------------------- Time Frame


Charts and other aids I use for Crude are:
1) Timed Monthly
2) Timed Weekly
3) Timed Daily
4) Timed 30Min Market hours
5) Timed 30Min Market with o/n hours included (lighter shade price bars represent o/n hours)
6) 1250 Volume Chart
7) 250 Volume Chart
8) Time/Sales windows to feel the current market momentum.
9) 1-minute volume histogram (“VolumeUpDown”) used with Time/Sales to gauge current market speed.

Trade Types
1) PB trades within directional moves.
2) Reversals and Break Outs from balance.
3) Scalps



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spartacus
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Journal - 2/23/2011


Pre-Mkt analysis.

Joined the market late today @ 9:50AM.

2/23 Pre-Mkt shows most o/n trading occurring above yesterday's settle. This is bullish if you consider that Yesterday (2/22) showed strong responsive buyer activity whenever price retraced down near Monday's (2/21) low. This stronger buyer response also gave us some buying opportunities yesterday (2/22). Another bullish sign from 2/22 was that the mkt closed on higher, at least above yesterday’s session balance.

Trade Entries for 2/23/2011 CL 4-11


T#3 Entered long @ PB for scalp. Was waiting for more buy volume but was not convincing so got out @
+17 ticks with a stop @ 97.35.

T#2 I got caught up in the moment - I saw much volume coming into the push higher and decided to go
for a big push up, it’s a strong trend day up, disregarding risk at this time I thought that momentum would give me a grace period for getting out of this trade if it starts spending too much time there without more new buyers coming in. Best option when doubt sets in is to eliminate the possibility of an undetermined loss and bail possibly to get back in at a better price if the mkt refuses to reverse. Got out @ +1 tick with stop @ 98.13

Mkt successfully shook me out and proceeded to go up without me; But that’s ok especially if my stop was undetermined at the time of entry.

T#3 Entered long @ PB for scalp. Should’ve entered @ 99.44 instead of 51. Reduced risks gives me
more resistance to uncertainty. Got out @ +9 ticks with a stop @ 99.38.

No more trades for today. Total Today: +26 Tics.

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  #8 (permalink)
spartacus
New York, NY, USA
 
 
Posts: 55 since Nov 2010
Thanks: 23 given, 63 received

CL-4/11 Journal - 2/24/2011


Pre-Mkt analysis.


2/24 Pre-Mkt price is long - above prior settlement all night and morning. Will there be a gap up opening? if so, will price be accepted higher or rejected back to yesterday's balance. Are pre-mkt o/n long holders going to feel trapped by thinking that they’re holding positions that are too long and feel the need to liquidate at the open.

A gap up at the open brought price outside of yesterday’s balance area. However, price did not stay that high that long as it quickly sought to revert back to yesterday’s balance which is a good indication what the rest of the day was going to be like: A balancing day dominated by short-term traders.

Trade Entries for 2/24/2011 CL 4-11


T#1 Shortly after the open (99.61) PB for scalp. Much down volume @ the open and pre-open hours show price decline that indicated that the o/n mkt was too long and needed to flatten long position to adjust. +48 ticks with a stop @ 99.93.

T#2 Long @ 99.19 for reversal signal. Long signal on the 1250V at a price area where a bounce was expected due to the prior day’s (2/23) botton of the upper distribution balance area. The expected move back up was expected to hit POC @ 99.49 – 99.70 area. Move was stalling and taking too long, so got out @ +6 tick with stop @ 98.80. If better r/r would have stuck it out.

T#3,T#4,T#5,T#6 Long @ 98.70, 98.63, 98.62, for reversal signal. At the end of “E” and the beginning of “F” period a liquidation break was ensuing. 3 attempts to catch a liquidation break going long resulted in 3 consecutive losses (no time to adjust stops in every case) wiping out morning gains. A lesson for lack of patience, and in such volatility it’s necessary to adjust stop before entry. T#6 was entered to catch the liquidation break for the eventual move up. Expected target would be at least to the POC or beyond (above 99.49 area). Exited in “G” period @ 99.70.

No more trades for today. Net Today (Ticks): +110 Tics.

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 Robertczeko 
FM, Czech Republic
 
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thank you for sharing your wisdom in markets, this is for me precise way of preparation before jump into the water with sharks . I am going to follow your journal, it is very inspirative.

R.

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spartacus
New York, NY, USA
 
 
Posts: 55 since Nov 2010
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Thank you Robert for your post, you're more than welcome.

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