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ES 9-30-08

I just covered all of these in the overnight at 1253.50...I'll consider this a "gift" and a failed campaign because of the high risk and overnight exposure.......thanks again for the support and encouragement......

one thing that many aspiring traders don't always factor in is TIME.......OUR personal time...

I've got two kids and one on the's 4:21 in the morning on the east coast and I am UP managing this trade......I'm 47 years old and I need to I'm happy to exit the trade it's just not worth the wear and tear on ones personal life at times....

You folks with the options had the right idea.....

Originally posted by BruceM

I went in at 27.25...three.....avergae price on this campaign is 1148...whew...that's a mess...targeting 62.50.....but when...?

I faded your 74, worked like a charm. Thanks
MPTV - I was looking at a 3 minute chart at the time which is what I like to use. I don't have time to get the exact minutes of the cycles. Looking quickly at a 15 min chart I see they were in the 10:45, 11:15, 11:45 and 12:15 15 min periods. You should be able to find them with that. :-)
Thats great Margie, I have them all memorized makes it a ton easier. I too pick up some ES for a short (1174 i.e. sq of nine) I have found that the $ticks and sq of nine work very well together.
The $TICK was not making new highs while the ES was and they were heading into that new daily highs/74 area with weak $ticks....
How many points can you usually fade off the sq of nine numbers?

I'd say you GREATLY increase your odds by only taking 2 points, and using $TICK to confirm entries.
2 points is not bad. Thanks for the info Joe.

It is no way limited to 2 points though, as I have been swinging 20-50 points each way with them of late. But by limiting it to two points it greatly increase's your %profitable. I have been watching them for years and can tell witch ones will stop and reverse and witch ones will slow the trend down and later become support for helping the main trend.
hey gang, sorry i was out of action today(had to sleep). I find it interesting that,upon review ofthe days action,the 'initial thrust off of the days low(1132.00)on the 5 min. chart seems to go for 5 bars to a peak at 1149.00(or 6 bars ..1149.25 would also be a valid argument) before any 'significant' pullback or sideways action. 1149-1132=17... 17times 2.618=44.50, then 44.50 added to 1132= 1176.50. This is how price proj. works! You dont know when it will be hit, or even if it will be hit, but if we approach it and your tech. indicators are over bought , as they indeed were in this case, then a possible short sale would be indicated because it would tell you a likely resistance area.You would have had this special knowledge around 10:30 in the morning!The danger is that i fear newer traders who posses this pwerful knowledge will use it incorrectly. IE: it would be wrong to go long around 10:30 and hold for this area , though i admit that would have worked perfectly in this case! The proj. simply give areas for 'potential' support and resistance areas may be found. Cycles are even more addicting! Remember how it felt the 1st time you were able to forecast a peak or low min. ,even hours ahead of time? The important note here is they dont tell you how long the peak or low will last! Best use of these incredible (kools tools) indicators is together and in conjunction with standard tech. analysis or whatever method you are using.
Looking at the action at 1175.75 at the end of the day you should already know what your 5 min. downside proj. is!(negated if 1175 is hit again of course)
Kel, answer is on the Pops video thread.(ps; remember not necessarily THE downside of any given cycle or movement but a possible support point where a bounce of some kind might be expected)