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YMM1, (3, -1), open short, 23:00PDT, 27 April


Hi,

Some of you asked me to alert you when I make a trade. Ok.

On surviving into your old age as a day trader:
"If you are ready to give up everthing else - to study the whole history and background of the market and all the principal markets (in my case, the the tempermental and ever changing e-mini $5 Dow futures) as carefully as a medical student studies anatomy -... and, in addition, you have the cool nerves of a great gambler, the sixth sense of a clairvoyant, and the courage of a lion, you have a ghost of a chance." - Bernard Baruch (Financier speculator, statesman, presidential adviser, 1870-1965).

In my trading life the above applies a little differently to me. Learn that the equity index futures are one of the worst performing futures markets in the Technical Analysis Characteristic Reliabilities Index. There's at least thirty years of data to support this statement. Unlearn what is known. Learn without a map, and recognize patterns in the mecurial e-mini $5 Dow futures that change patterns quickly, within each day, week, month, and through these many years.

Open position: YMM1 short 12675 (21:13), rational ... trading from unchanged, 12641 + 1.618% of the Stretch = 12641 + 42 = 12683 (high=12687). Fading the first move higher with a price projection that applies the (3, -1) formula. This is a 'Federal Reverse President (Bernanke) Press Conference rally,' i.e., when there is chaos markets fall. Today President Obama produced a birth certificate and Bernanke produced a press conference.

The fact remains, sometimes, it's not so easy being 'Fearless Leader.' There has never been a way to actually destroy a cartoon character until now. Even though the pun is weak, the contract is ironclad.
http://www.caglecartoons.com/viewimage.asp?ID={F0D41AB2-4D4F-4A53-839B-F9F039654B03}
Hi,
Last night I posted my June e-mini $5 Dow futures (YMM1) short, 12675 (21:13PDT).

Open position: YMM1 short 12675 (21:13), rational ... trading from unchanged, 12641 + 1.618% of the Stretch = 12641 + 42 = 12683 (high=12687). Fading the first move higher with a price projection that applies the (3, -1) formula. This is a 'Federal Reverse President (Bernanke) Press Conference rally,' i.e., when there is chaos markets fall. Today President Obama produced a birth certificate and Bernanke produced a press conference.

Trading from unchanged, 12641 + 1.618% of the Stretch = 12641 + 1.618% of the Stretch = 12641 + 42 = 12683
12687 = high as of 0720PDT
12687 - 26 - 26 - 26 = 12609. 12609 = low as of 07:15PDT)
Short 12675 - 50 points profit = 12625
Fifty points profit at $5 points per tick = $250 per contract.
Basis $672.50 intra-day margin for the June e-mini $5 Dow futures $250 profit per contract = 37% profit less commissions, fees, etc,....

If you do this everyday, and make no mistakes, and you are fully leveraged... it will take you approximately 25 trading days (35 calendar days) to become a millionare. Your target date to have at least $Million in your trading account is 02-Jun-2011.
http://www.mypivots.com/calculators/day-trader-millionaire-calculator.aspx

Starting capital: $672
Capital base per contract traded $672
Number of trades per day: 1
Round trip commission per contract: $5.00
Average points profit per trade: 50
Value of 1 point: $5

It will take you approximately 25 trading days (35 calendar days) to become a millionare. Your target date to have at least $Million in your trading account is 02-Jun-2011

Step into the middle, and do the heavy lifting.