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Comments: words cant describe the absoulute lunacy we have seen this week!We are up 120 handles onthe spoos in three and a half regular trading hours! And were still down for the week!
You are too kool! What indicators are you using on what timeframe, if you don't mind sharing. I'll take the knowledge now and the beer next time!
Kool how long have you been trading again? Can't wait to be as good as you man!
GREAT DIVERGENCE as the dow and S&P tried to break the hour high...compx no where near it...anyone remember that amazing 1264 in the S& carries over to the new contract......that's the only insight I have
Putting in an intermediate bottom here?
MARGIE , i keep it unbeievably simple.Iuse a 1 min. chart 5 min. and 15min. chart. all have the same indicators . WilliMS %R MACD AND STOCHASTICS . Ihave a 54 period moving avg. on my 5 min. chart(my bread and butter) and mov avg envelopes on it currently set at 2.00 and 1.50 deviations. when the williams% r is over 92 and the stoch areover 80 and rolling over and im near the top of my envelope its nearly 100% correlation for a good short scalp. entries come from the mov. avg . for instance right now its at 1253.50 and you will find resis. and support in increments of 5 from it ,up to or down to the envelope.(ie1258.50 or 1248.50 etc) it may sound complicated but it isnt . The only reason i dont bat 100% is i take a lot of trades before all the conditions ive laid out are present. (ie stoch, envelope, and williams %r). the monster trades occur when 1 , 5 and 15 min. all have these condions present. Ive used a million diff. trading techniques and systems over 20 years but nothing can match these simple tools and common sense.
I'm not Margie, but how's about a screen shot of that setup?
Sounds like a neat way to do things Kool.
Remember i also follow some cycles and use a proprietory method of determining price projection which helps idetify support an dresis. areas . WHEN I TRADE , SINCE IT WILL ALMOST ALWAYS BOUNCE SOMEWHAT I JUST GO AFTER SMALL 1-4 POINT SCALPS USUALLY. thats why i dont really even care if were trending up or down. All i want is the next 2- 4 handles.
Notice how were hanging around the number i gave you earlier ? very powerful avg. on the 5 min. chart.
5 min. on a weak sell but it looks like its killing time so the 15 min. can become oversold enough for a good rally.
Iwish i culd Pop but i dont know how yet. Im going to try and figure it out tho.
Originally posted by myptofvu

Where did u exit the 67 short?

Actually, i was too late on my entry and didnt get filled! Generally, my orders go in a few seconds before i post. Notice the time on that post(12:40). The market had peaked one minute or two before at 1267.75, but it never got above 1265.75 after my order was in so i didnt get hit. Too bad cause it would have been a really good trade.Thats why i made no comment about being stopped out or exiting with a profit. PS: sorry i didnt answer earlier, crazy day!