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ES 12-11-2008


Important Note: Contract rollover TODAY for the ES, NQ, YM and TF

ALSO GIVES GOOD IDEAS FOR ENTRIES. GOTTA GO.. SEE YA!
feng im going to workout then ill be back...Im no expert, by a longshot, but I will try and give you some guidance and help if your willing
quote:
Originally posted by VOwater

thanks feng...would you be more specific...the actual trade itelf with numbers, time frame ect.



ok one of the best examples would be between 1:38 to 1:40. i see two red's followed by a green on the 1 minute chart. when i was looking for patterns last night, i realisd that that "signal" almost always resulted in an uptrend following and within a few mins and would reach the projected price using kool's method.

instead it just went down and down and down...basically i was going against the trend, which i know is retarded but i was pretty confident in my decision. times that by like 5 and u end up with -$1000 before comission. this is why im still paper trading.
quote:
Originally posted by koolblue

quote:
Originally posted by prestwickdrive

bigs sold a net 40k H contracts since 1 pm. Their selling accelerated at the 889-890 level so they will likely defend that when we get back up there

ONE LAST THING FOR TOMORROW! THE DEADLY 15 MIN PROJ IS NOW 890.50 UNLESS 867.50 IS TOUCHED AGAIN!



Thanks KB


I was just thinking myself a break back above 876.25 looks very bullish. Especially so if we can somehow get back above 884.50.
if your willing, get together 3 actual trades you placed today and i'll go over them with you when I get back
VO, can you send me an email when you and feng get together. I would like to listen in. I will be away for about 15 minutes
Feng,

Heres a snapshot showing a price projection on a 1 min chart, the 1st line is the 1.618 the 2nd is the 2.618. I'm looking for the distance moved b4 a retracement then measure that to get the projections.

I find it's important to find the beginning of the move to take your measurements from.

Also this is a pretty clear example but they're not all that easy to see, on the more difficult ones it helps me to imagine what it might look like on a 30 second or 15 second time chart to take my measurements.

With some practice I think you will easily see how to do this and that Koolblue has really come up with something good here.



Click image for original size
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Damn! Missed a great opportunity today after getting kicked out with a loss - got tied up at work. Anyways there is always a chance for another one.
i think one of my main problems is just a lack of understanding of a lot of the technical stuff.

for example when u guys say all these terms i have no idea wat ur talking about. and of course i dont have an understanding of a lot of the indicators u use.

ive been paper trading for almost a month now and the way ive been going about things is looking for patterns myself instead of trying other peoples ways because although i would like to do things other ppl have done, the lack of understanding on my part makes that pretty impossible atm.

when u ask me to show u my trade setups, i dont have image capture or anythign like that so theres really no way i can do it. all i can tell u is ive been trying to do the same things over and over again today and that is look for two candles down then one candle up, which i then predict to be a trend upwards. i take the pivoting candle and use it to calculate a projected price, then usually scalp to it in a conservative fashion. i only got screwed when the trend didnt go the way i thought it would and i ended up holding on because of my overconfidence on my predictions. near the end of the day, i just kinda lost it emotionally and was partially in a f*ck it attitude.
Kool, VO, Pt, Mypt and others -

How do we project when the trend will change direction ? Do we take the latest swing high and low and plot the numbers against them or/and look at will%r, bb, stoch for overbought/oversold ??

Thanks.

quote:
Originally posted by feng456

quote:
Originally posted by myptofvu

Feng do you have Skype? it would be easier to talk to you...



i had skype then i uninstalled cuz it had lousy connections. but i think my account may be still active. whats ur username or whatever?



skype Id is rthtrader