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Plan the Trade

  • #12,201
  • Jun 3, 2019 4:18pm Jun 3, 2019 4:18pm
thanks for the charts... improved entries after latest harold video
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  • #12,202
  • Jun 3, 2019 7:51pm Jun 3, 2019 7:51pm
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Nasdaq drops more than 1%, enters correction territory as regulation fears batter big tech - https://www.cnbc.com/2019/06/03/stoc...-in-check.html
  • #12,203
  • Jun 4, 2019 8:00am Jun 4, 2019 8:00am
Hmmm . . . Good news out of China got things a bit bullish . . . Lets see how it plays out
  • #12,204
  • Jun 4, 2019 9:11am Jun 4, 2019 9:11am
Kind of a perfect start today with 3 quick wins within a short window, and I decided to stop even if just SIM, and that other possible entries are coming:

+12 +12 +12

Very lucky in the last few days with 7 wins in a raw.
Unfortunately experience has proven again and again that it is at least mostly random, and the draw down is coming at some point.
Never the less it is always nice to hear my platform saying “target filled” again and again!!

Green ticks to all, and enjoy your day guys.
Cheers,
J-F
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  • #12,205
  • Jun 4, 2019 10:02am Jun 4, 2019 10:02am
tricky day for me:

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Become the casino
  • #12,206
  • Jun 4, 2019 10:14am Jun 4, 2019 10:14am
plus 6 today, and yesterday as well, but yesterdays was after 3 trades. Still a bit distracted from the weekend. Using the 20sec chart vs the 30sec
today, a bit easier to spot 1-2-3s and impulse re-traces. Still need more face time to spot and setup trades. Set some lines of trades I could have taken but missed.
tmro is another day.
good luck,
regards
goma
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  • #12,207
  • Jun 4, 2019 3:48pm Jun 4, 2019 3:48pm
Quoting erasmus66
tricky day for me: {image}

Similar....tricky day. ended up minus 1R.
missed two good ones
didnt realise that only partially exited or didnt get a proper exit fill on one trade which didnt help! otherwise would have been breakeven day.
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  • #12,208
  • Jun 4, 2019 8:51pm Jun 4, 2019 8:51pm
Quoting bapakjason
{image} Nasdaq drops more than 1%, enters correction territory as regulation fears batter big tech - https://www.cnbc.com/2019/06/03/stoc...-in-check.html
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Does this still count as "correction territory"? Lol
Complete 180 degree about face from bearish to bullish.
Things like this are why quick scalping of immediate data makes so much sense to me. Who knows what news will come out to affect big swings????
  • #12,209
  • Jun 4, 2019 9:14pm Jun 4, 2019 9:14pm
Quoting bapakjason
{quote} {image} Does this still count as "correction territory"? Lol Complete 180 degree about face from bearish to bullish. Things like this are why quick scalping of immediate data makes so much sense to me. Who knows what news will come out to affect big swings????
Idiots ... that is like explaining today's rally by saying it was in response to Powell ... the rally started yesterday and the ES was up 20 at the open. CNBC is for idiots
  • #12,210
  • Jun 4, 2019 9:30pm Jun 4, 2019 9:30pm
Hey cable guy, I hope you are doing well ... the thread is better when you are posting to it for sure. And Harold, if you are reading along - miss you as well and I hope you are enjoying life as you taught us to do.

Hey Folks ... here are two charts to show a bit of what I have been working on ... sort of back to basics for me.

Both show the ES, and both are 5 minute charts.

This one is a 24 hour chart, and I refers to it as my 21348R chart: the moving averages are both ema's: the 21 ema is dotted and the 34 ema is solid. The indicator is an 8 period percent R

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And this is my M5NYC: It is simply a naked 5 minute chart set to show the NYC session only.

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On a day like today, I will use the 21348R chart in combination with the M5NYC. On a day like yesterday, the M5NYC is all I needed.

Back to basics in that I am just focusing on set ups from support and resistance levels, though when a trend develops, I use the ema's and percent R to "flag trade the trend" Harold style.

Comments and questions welcome.
  • #12,211
  • Jun 4, 2019 9:34pm Jun 4, 2019 9:34pm
Also, for you guys sim trading ... are you aware of the new micro futures contracts? The micro NQ trades at 50 cents/tick instead the $5 of the full mini, and the ES trades $1.25/tick instead of $12.50. I'd think those micro's would be good step into live trading for you when you are ready.
  • #12,212
  • Jun 4, 2019 9:37pm Jun 4, 2019 9:37pm
Quoting LookinGood
{quote} Took a break from FF. I was observing a lot of hostility on this forum. Wasn't helping with my pre or post market prep, so i just bounced.
Hostility in this thread specifically or just FF in general. We really need to be good to one another here. We should try to live up to the example Harold set for us, imo.
  • #12,213
  • Jun 5, 2019 8:15am Jun 5, 2019 8:15am
Have to take off at market open, so probably no trades for me today. (wife needs a couple of new tires on her F150 XLT and I want to be first in line).
I spotted a few of the 1-2-3s and subsequent 2bs pre-market before it gets crazy at the open. Took the lines off of the 3 midpoint.
good luck,
regards
goma
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  • #12,214
  • Jun 5, 2019 9:02am Jun 5, 2019 9:02am
why does harold not trade on wednesday...? news i guess..
There is ISM today (wed) but there was also ISM on monday which did not stop us so not too sure... any ideas?
ISM today is non manufacturing which might be the reason whereas ISM on monday is manufacturing
  • #12,215
  • Jun 5, 2019 9:35am Jun 5, 2019 9:35am
Quoting OliverG
why does harold not trade on wednesday...?
I am far from being qualified to answer, but I imagine there is a lack of volume on Wednesdays, as we see plenty of little gaps in the price despite being within the hour after the opening.
Bear in mind that I might be completely wrong.

Just the one trade today (SIM), and I had 2 other trades that didn’t get a fill, being missed by a tick.

+12

Enjoy your Wednesday guys.
Cheers,
J-F
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  • #12,216
  • Jun 5, 2019 9:35am Jun 5, 2019 9:35am
Quoting OliverG
why does harold not trade on wednesday...? news i guess.. There is ISM today (wed) but there was also ISM on monday which did not stop us so not too sure... any ideas? ISM today is non manufacturing which might be the reason whereas ISM on monday is manufacturing
If I remember correctly, it goes back to his Oil trading days. Inventories are posted on Wednesday and that was not the day he wanted to be putting his $$ at risk. The habit has carried over for him.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #12,217
  • Jun 5, 2019 10:17am Jun 5, 2019 10:17am
I got distracted by my thinking and didn't get a chance to post the first chart when it was fresh ... sorry about that. Anyway, ES, I am long and looking for a potential rally to test the morning high at 21.75 ... I have a limit order to take profits at 21.50 which would be +16 points on the trade. My stop is now just -1 point.

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We are in a trend down since the open, and on the 21348R chart price is in the area where a sell signal might be generated. But the S/R trade takes precedence for now. Had the sell signal occurred belwo yesterday's high or yesterday's close, I'd take the sell signal ... for now staying long and willing to let the market take its time to traverse the range if that is what it is going to do.

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  • #12,218
  • Jun 5, 2019 11:36am Jun 5, 2019 11:36am
Quoting ddaytrader
ES, I am long and looking for a potential rally to test the morning high at 21.75 ... I have a limit order to take profits at 21.50 which would be +16 points on the trade. My stop is now just -1 point.
This looked like a triple top like I have mentioned in the thread in the past ... I closed 1/2 out at 17.50 for 12.50 points and I have a stop on the last at 2809 for now. Profit target still 2821.50

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  • #12,219
  • Jun 5, 2019 11:41am Jun 5, 2019 11:41am
tires replaced, wife's happy. Saw the price action a bit on my phone while waiting. Came across a chart showing where CTA's flip from
100% long to short based on price levels in the NAS and SP might be of interest.
regards
goma
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  • #12,220
  • Jun 5, 2019 12:08pm Jun 5, 2019 12:08pm
Quoting ddaytrader
{quote}Profit target still 2821.50
Out at 21.50 so the math on a 2 contract position is +10 and +16.5, for an average profit of 13.25 points. That is $1325 on two mini's and $132.50 on two micro's less the commish


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