Very good move on Nasdaq futures, 40+ full points. Nice. {image}
Great moves today
ES @ 1864.5
- #523
- Edited 11:23am May 15, 2014 10:32am | Edited 11:23am
- Joined Nov 2013 | Status: Trader | 1,391 Posts
Hi there Mr BoJang,
Not sure of your level of experience so I offer a friendly tip. Apologize if you know this already. The level you had marked is absolutely a NICE valid level. Definitely an upcoming long or short so keep it marked but I wanted to suggest to you to get a feel for price action before taking a position. To blindly enter just because price hit a level may not be the best idea. I personally only have one valid set and forget setup that is right way more times than it is wrong but the rest of my entries of levels are based on how I feel price action is acting. I only saw more shorting when you entered. I was hoping i was wrong. Also the time of day is not the greatest in general that is.
Was 3 points a bailout or your usual stop. If that's the norm, I think it's a bit tight. If it was a bail out, then you did a great job. The key to money management is using the bailout wisely as well.
I was babbling about it here and here with a good link as well with an experts take on it.
Good Luck Bro. I'm a broken record (digital disc I mean "ha ha giving away my age there..") when it comes to mentioning the words, screen time, screen time, screen time ... so I won't mention it again.
Not sure of your level of experience so I offer a friendly tip. Apologize if you know this already. The level you had marked is absolutely a NICE valid level. Definitely an upcoming long or short so keep it marked but I wanted to suggest to you to get a feel for price action before taking a position. To blindly enter just because price hit a level may not be the best idea. I personally only have one valid set and forget setup that is right way more times than it is wrong but the rest of my entries of levels are based on how I feel price action is acting. I only saw more shorting when you entered. I was hoping i was wrong. Also the time of day is not the greatest in general that is.
Was 3 points a bailout or your usual stop. If that's the norm, I think it's a bit tight. If it was a bail out, then you did a great job. The key to money management is using the bailout wisely as well.
I was babbling about it here and here with a good link as well with an experts take on it.
Good Luck Bro. I'm a broken record (digital disc I mean "ha ha giving away my age there..") when it comes to mentioning the words, screen time, screen time, screen time ... so I won't mention it again.
{quote} Out for 3 points and break even. That's it for me, have a good one.
SPC * Swollen PocketZ Crew!
- #524
- May 15, 2014 10:33am May 15, 2014 10:33am
"I don't like to pay attention to swing highs/lows... that's all. I like to be in them 
, if you know what I mean" -- IP
I now have a better understanding of what you mean. Thanks.
AUDUSD - 4hr
Trade 1: Went long yesterday, closed for a 1:1 profit.
Trade 2: The level was not fresh and I had to run to class, I closed it for a 1:1 profit. It missed the lower level by 2ish pips. :/
GBPUSD - 4hr
Level hit just prior to the London open, closed out at 2:1.
Cheers.
, if you know what I mean" -- IPI now have a better understanding of what you mean. Thanks.
AUDUSD - 4hr
Trade 1: Went long yesterday, closed for a 1:1 profit.
Trade 2: The level was not fresh and I had to run to class, I closed it for a 1:1 profit. It missed the lower level by 2ish pips. :/
GBPUSD - 4hr
Level hit just prior to the London open, closed out at 2:1.
Cheers.
- #529
- May 16, 2014 8:14am May 16, 2014 8:14am
- Joined Nov 2013 | Status: Trader | 1,391 Posts
You happy with your level now? 
Good price action as well... 
Just remember to take profit. You need a target. 1875 to 1878 is bearish territory. No Feeding the bears! ... Just watch the price action..
Good price action as well... Just remember to take profit. You need a target. 1875 to 1878 is bearish territory. No Feeding the bears! ... Just watch the price action..My post may be a bit late but thought this would be worth sharing. ES Long @ 1862.5 Have a good weekend everybody. Adieu {image}
SPC * Swollen PocketZ Crew!
[quote=Iron Pawn;7471841]Probably done for this week...
What can I say... I really didn't want to trade today but I love those few hours of market opening. Update on ES, 1 contract closed at 5 full points the rest is left to continue or take me out. Either way is fine with me. Well, tomorrow I will not be trading for sure
What can I say... I really didn't want to trade today but I love those few hours of market opening. Update on ES, 1 contract closed at 5 full points the rest is left to continue or take me out. Either way is fine with me. Well, tomorrow I will not be trading for sure
"A handful of patience is worth more than a bushel of brains"
- #534
- Edited 7:22pm May 16, 2014 9:39am | Edited 7:22pm
- Joined Nov 2013 | Status: Trader | 1,391 Posts
Copper to the basement. Tradin' da order flo...... I'll sell anything... LOL
Selling USD/CAD also but might get my ass handed to me on that. We'll see....
USD/CAD Update 11:24: Still alive on USD/CAD. I might get this one as well.
USD/CAD Update at Market Close: +15 before the close off 4hr chart sellers zone.
Copper (The HG 4 Nice TP)
Copper trade was takin' off a sellers' zone aka "The Speed Bump" Not even a fresh level. Hit 3 times prior, check it out.
Selling USD/CAD also but might get my ass handed to me on that. We'll see....
USD/CAD Update 11:24: Still alive on USD/CAD. I might get this one as well.
USD/CAD Update at Market Close: +15 before the close off 4hr chart sellers zone.
Copper (The HG 4 Nice TP)
Copper trade was takin' off a sellers' zone aka "The Speed Bump" Not even a fresh level. Hit 3 times prior, check it out.
SPC * Swollen PocketZ Crew!
- #535
- May 16, 2014 10:30am May 16, 2014 10:30am
- Joined Nov 2013 | Status: Trader | 1,391 Posts
SPC * Swollen PocketZ Crew!
- #537
- May 16, 2014 10:58am May 16, 2014 10:58am
[quote=JoeNY;7474147]Copper to the basement. Tradin' da order flo...... I'll sell anything... LOL
Hey, I did take a look and left it alone for a while (few hours) to see what's going on there. And, this is what I saw in copper, before and after... by the way, I never traded copper and probably never will and analysis was very quick, done in couple of minutes so I don't know anything about this instrument. Maybe it was only luck this time.
Hey, I did take a look and left it alone for a while (few hours) to see what's going on there. And, this is what I saw in copper, before and after... by the way, I never traded copper and probably never will and analysis was very quick, done in couple of minutes so I don't know anything about this instrument. Maybe it was only luck this time.
"A handful of patience is worth more than a bushel of brains"
- #538
- Edited 11:20am May 16, 2014 11:06am | Edited 11:20am
- Joined Nov 2013 | Status: Trader | 1,391 Posts
I got to tell ya. I don't see what I want all the time but when I do, it's as good as anything else. I trade Copper, Gold, Soybean and Crude. Price action is the same for all. Crude swings a little wild as you know but it does what you want just stubbornly. The R:R on all mentioned is insane. They blow the ES away in R:R. When they take off, it's nothing but big $$$$ 
Natural Gas I haven't figured out yet. It makes no sense to me but that's just me. I don't have patience for Bonds. I know the Keyser Soze trades them but I don't see what I want. I don't have much game yet.
Natural Gas I haven't figured out yet. It makes no sense to me but that's just me. I don't have patience for Bonds. I know the Keyser Soze trades them but I don't see what I want. I don't have much game yet.Hey, I did take a look and left it alone for a while (few hours) to see what's going on there. And, this is what I saw in copper, before and after... by the way, I never traded copper and probably never will and analysis was very quick, done in couple of minutes so I don't know anything about this instrument. Maybe it was only luck this time. {image} {image}
SPC * Swollen PocketZ Crew!
- #539
- May 16, 2014 12:01pm May 16, 2014 12:01pm
I got to tell ya. I don't see what I want all the time but when I do, it's as good as anything else. I trade Copper, Gold, Soybean and Crude. Price action is the same for all. Crude swings a little wild as you know but it does what you want just stubbornly. The R:R on all mentioned is insane. They blow the ES away in R:R. When they take off, it's nothing but big $$$$
Have a great weekend buddy and see ya around.
"A handful of patience is worth more than a bushel of brains"
