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No Indicator Mumbo Jumbo


OK HERE IS MY TRADE FOR TODAY
08:35:04 BUY_LIMIT 1184.50
10:06:43 SELL_LIMIT 1188.50
Dow wants 11155
Originally posted by ak1

1189 and 1186 are strong magnets


FWIW
Originally posted by ak1

A close below 1186 could smell bearish

This projection is still valid. However we have 1217 on the upside to satisfy too. So I expect choppyness to continue
Originally posted by dmc68

Thank you for your help. I looked on Ninja Trader for there practice application you mentioned. I did not find it yet, but I will keep looking, and continue posting with questions.

Thanks again,

Dave

Global futures offer fee demo account too. From my experience it’s simple and easy to use. Try trading Emini SP. You can start with a 5 min candle stick chart.
Watch Overnight highs/low, 8:30 to 9:30 est. high/low, Pr close and open. Study them along with how markets react to them. Please bear in mind that Economic news has a major role as price nears these lines.
Another thing to keep in mind is the 2.5pts level above and below the RTH open use them as markers. They usually tell you if you are in the wrong or right direction. Try working with these with a profit target of 4 pts and a loss of 4 points. The RTH open is the best time to trade. If you can understand the 1st few minutes that's it. Sitting all day in front of computer is going to be exhaustive and confusing and even more confusing. Remember confluence of numbers gets the market going; they form supports, resistances, and magnets. Daily notes on this forum have numbers; use them to your advantage. Their is no holy grail. So don't be fooled by venders. Also scalping is very dangerous as you can't be right always and your stop loss can't be always perfect.
Ak1 can you clarify.....in this post you mention the 7:30 open but your last post you mention the 8:30 - 9:30 time frame.....probably just a typo....thanks
Originally posted by ak1

Another thing place a line at the high and low formed after 7:30 est. Watch how the price dances around it.
Bruce what I am refering to is that the hour high and low formed between 8:30est to 9:30est. Its like a swing high/low with the exception that it has ecomonic refelection and good volume. I strongly beleive with no disrespect to anyone that traders credit their judgment when they profit and blame indicators when they loose. So try to develop judgment. Also 9:30est has the maximum profit potential even in the most flat and choppy markets.
Today is Monday so we will get a "Monday Morning Sickness Trade" Buy the open for a profit of 2.25 pts. Now also place a buy at Range low(Low formed between 8:30-9:30est) If the range low entry is trigered exit both entries at 2.25pt above Range low. Place a stop loss for both trades 2.5 points below Range low. You should be done for the day.
Hope everyone got the trade
The golden candle on the 5 min chart IS THE 9:35 CANDLE
See how the market reacts to Range high (High of 8:30-9;30est)
http://www.mypivots.com/Board/Topic/4072/21/candle-pattern

4th post in this link gives a further explanation