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$100.00 A Day...


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$100.00 A Day...

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  #51 (permalink)
Richard
Dallas TX/USA
 
 
Posts: 154 since Jun 2009
Thanks: 33 given, 284 received


HJay View Post
I will say though that there are times, even when the market is strongly moving in one direction that it is ok to look for reversals. Today was such a case in my view, at least for the little slice of time that I was observing the 6E.

Yeah I know what you mean. To me the important distinction is between range-bound action and trending action. I think there is a big difference between trying to catch a reversal in a trend, and just fading higher highs in a trend. In your chart today, price was making lower lows and lower highs by the time you were looking short, and to me that's a perfect new downtrend to short on a trendy morning. That's all I'm really getting at.

Nice trading!

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  #52 (permalink)
 HJay 
USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: futures
 
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Posts: 197 since Aug 2009

Got to post the bad with the good... Just one of those days I guess. I did manage to salvage some of the loss with some YM gains later in the day, but this morning session "is what it is" as they say.

Now I guess this is where I am suppose to say all the things I learned from this experience....... hmm, not feeling it right now.. Maybe later.


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  #53 (permalink)
 Jeff Castille 
Northern California
 
Experience: Intermediate
Platform: Ninja Trader
Broker: Amp Futures/ Zen-Fire
Trading: YM and CL
 
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Posts: 2,119 since Jun 2009
Thanks: 1,783 given, 3,301 received


Hey HJay,

I believe that your losses this morning were a result of trading during or in close proximity to a news release.

Jeff

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  #54 (permalink)
 HJay 
USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: futures
 
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Posts: 197 since Aug 2009

Feeling a little better since yesterday's beat down




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  #55 (permalink)
 HJay 
USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: futures
 
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Posts: 197 since Aug 2009

One and done.. It's nice when it works out that way. Sure is a lot less stressful then fighting your way out of a hole from the start. For some reason I work up just prior to the London open and decided to have a look. After the action yesterday I thought there might be some continuation. The 6E had just made new lows prior to the bell so I was looking for a quick retracement up and then continuation down. Good for me we were both singing from the same song sheet. Very little heat on this one as it just made new lows prior to bouncing back up.



NOTE: I have added a Time and Sales form to my screen and set it to show only block trades greater than 5 and to warn on blocks 10 or bigger. I think this is a must going forward and quite frankly I am ashamed for not using it before now.



One other note. In addressing the point that Jeff Castille made regarding trading around NEWs and the negative impact that can have I recently added the Economic News Indicator by j0hnth0m. What a gem this one is, "Just set it and forget it". It does all the work of gathering NEWs items each and everyday. It is very configurable and can be placed in any pane. I put mine down in the 3 minute stochastic window where the space is not really being used anyway. Thank you so much John!!!!!

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  #56 (permalink)
 mysthars 
budapest
 
Experience: Beginner
Platform: ninja, strategy
Trading: es
 
Posts: 27 since Oct 2009
Thanks: 20 given, 9 received

Hi HJay and congrats for your trading.
I have a question if you wanna help me, I saw on your graph that you've the 5 range no gap set up, how you did that?

Thanks and all the best

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  #57 (permalink)
 Alinghy 
Monaco - Montecarlo
 
Experience: Intermediate
Platform: Ninja Trader 8
Broker: Dorman
Trading: ES 6E ZB YM
 
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Posts: 332 since Sep 2009
Thanks: 257 given, 59 received

Hi mysthars

may be you are looking to ...

Downloads - Miscellaneous - Big Mike Trading Forum

This is in the download section --> Ninja ---> Miscellaneous .

Bye


Or straight on


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  #58 (permalink)
 mysthars 
budapest
 
Experience: Beginner
Platform: ninja, strategy
Trading: es
 
Posts: 27 since Oct 2009
Thanks: 20 given, 9 received

hey Alinghy,

thanx man, that's what I'm looking for
take care & good luck

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  #59 (permalink)
 HJay 
USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: futures
 
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Posts: 197 since Aug 2009

Not as easy as yesteday morning, partly because of my own fault. I set my target below a bounce point mssed my target by 1 tick. I did add a second contract at the next turn down where yet another higher/high failed.


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  #60 (permalink)
 HJay 
USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: futures
 
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Posts: 197 since Aug 2009


Completely overslept for the early morning session. Checked in on the market during a break in the day and was fortunate to find it in the midst of the sell off. I looked to enter on the retracement back. This moved very fast and really flew by my daily target before I could even exit the play. Would'nt it be nice to be able to dial that up every day ...



....now back to reality

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