Trading Futures

OK thanks - I've been using the NYMEX pit open rather than the NYSE open - I'll now monitor both

YM pulsing 11589 to 11620 .... lovely channel right now .. play the ranges with 15 point stop , watch for long covering going into close and breakdown bottom of channel starting any time from 11:30 pst , but more liekly 12:15 pst.

classi re test of the OR low on oil. ..... shorted for 60 pips

that last run off 11589 did not stop at 11620 on the 5 min and gave a nice breakout . The trick is to move stop up to 10 pips under channel at top of channel on futures.

This is eays to do due to ladder if you have one ( look like level II screen).

Now i have moved stop to just under channel top locking in profit

also not how the bearish div rsi on 5 min was broken

I am NOT trying to promote my trading room , but next week Monday I was going to do some live futures trading with the few members I have in there. There is a free 5 day trial so thought I would throw it out there if some of you may want to come in and see what I am doing with the OR .. it would not cost you any thing.

PM me if you are interested

I am out next test 11640 +50 points last trade

turned out an awesome day ....

nice traidng on the YM hope you all did well today

pff! just was preparing my setup for the day including my bearish bias at the level we currently were, suddenly this heavy down bar occured on 14.30 gmt. lets see if we go on to that direction in one hour..


anyways, i wanted to post the following. dark blue line is price flip zone. light blue lines are bearish bars on higher volume or a series of down bard with increasing volume. also we got two tests before the drop.

the dark blue line would also have been my entry.
with that amount of volume in this series of bars there is no problem to break through 365ema (orange).

malcolm, what do you count as base for your opening range? 14.30 gmt or 15.30? research shows that the most amount of volume comes in at 15.30 gmt.

it drops drops drops and i am just on the sidelines...

thats is ok .I always wait for the OR to form .. nice little long today of re-test of OR

DJ down to that angle its approaching then LONG and never looks back for a while

this is the dj we are talking about ... down one day and up the next lol .....

Great thread lilmoe. Will have to get back into the futures. A lot of price patterns play nicer than fx. Volume is usually the key with these babies.

It's a bit hard for me to trade them as it's zzzzzz time in Aus when they're moving

TODAY is the day when BAN on naked short sales on biggest 10 financial intitutions is expired. As I remember it is a 10 day BAN, and the tenth day is 12 August..

The commission pushed back expiration of its ban on so-called naked short sales of the firms’ stocks to Aug. 12, it said in a statement. The order “will not be further extended,” the S.E.C. said.
Some heavily shorted financial companies not covered by the previous order, such as National City and Wachovia, had sought to have their names added to the S.E.C.’s list. But the roster of 19 stocks remained the same.
The commission’s temporary order aims to keep traders from driving down financial stocks to bolster profits. Bear Stearns and IndyMac Bancorp collapsed amid rumors they were faltering.



http://www.bloomberg.com/apps/news?p...oao&refer=news

http://dealbook.blogs.nytimes.com/20...t-sale-limits/

hmm. lot of ingrediances.

Hello everyone. I trade the mini-dow (YM). I shorted today at 11701 and took profit at 11600. Nice little 100 point gain.

Short on YM this morning. Closed for 50 points.

Short again on YM. Closed for another 50 points.
200 points in 2 days = nice pocket change

i don't think we're ready for a downwards breakout on YM... seems to me that we could go for another wave upwards towards 11975

i'm long on my system's confirmation targeting that level...

Short YM this morning. Closed for 50 points.

Here's my chart with Williams, 50EMA, & Volume. I also use the 00 & 50 levels. I believe in the KISS method.