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ES Thursday 7-14-11


Just starting the thread today as no one has and 0830 EST with its three reports is almost upon us.

My immediate levels are 1318 and 1312 followed by 1307 and 1301.
Greece says next few days critical for debt crisis
Originally posted by BruceM

Paul..the new summer time style is waiting for something to happen with the footprint inside the key zones I have defined ahead of time.....I'm trying to limit the add on trades etc...so these real time trades are taking more tries in the zones...obviously the air pockets get factored into the trade idea...

so i waited until I saw something happen with the footprint up there in my zone...I'm not gonna waste the forums time with posting the footprints as I don't beleive there is interest and that's ok...it takes too much time
Originally posted by PAUL9

Bruce,

are you saying that you are starting to short right now, but you would like to see price move up to yesterday's RTH H, or yesterday's RTH swing H failure 23-24 area?



Bruce,

I appreciate the footprints that you and LisaP post. Am I correct in assuming you are using the footprint similarly to Lisa? Develop your areas of interest and then look for a footprint signal indicating what you were anticipating is actually poised to happen around those areas?

This seems like a very nice use of the delta IMO.

Good luck to all!
Bruce what about those trips plus on at 10.5
My Jing is off for some reason. Tried to reload but was unsuccessfull. So no charts from me until I remedy.
Hi guys I really have the intention to have here a live and vibrant discussion about the market but I’m looking for quality not quantity I was a member of different group of traders we were about 100 each person shared their own trading numbers before you know we had a bad salad to stomach everyone was losing money and that trading chat room collapsed after 2 months …..my suggestion let the veteran traders post their numbers here
khamore, it seems to me that you are in desperate need of good numbers, preferably coming from "veteran" traders. Weren't you the one who was asking, also on mypivots, if somebody profitable wanted to join your small trading group or sthg like that?

I would suggest, as others have, that you come up with your own areas/numbers and learn to trade based on them, and not based on somebody else's advice and then enjoy the free education that goes around here and use it to improve your trading.

Most things that are posted here are good stuff but you have to learn how to use it, or not if you feel it complicates your trading. Either way, I agree with others that everyone should be free to post sutff, but try to subtantiate it with reasons, logic, etc.
seeing air on the :30's - 1316 to 1319.75. Is that correct? (And, is one looking for a 10.50 buy with a 16-19 target?)
One time framing short. Sold 15.25 open of 10:30 candle. 12.50= goes to breakeven. 17.00 is my stop. Target= 10.50-10.25
bigmike, i was looking at it but that long bar down made me stay away from it since the stop would be in the midst of it...interesting to see that you took it

best of luck !

Originally posted by Big Mike

One time framing short. Sold 15.25 open of 10:30 candle. 12.50= goes to breakeven. 17.00 is my stop. Target= 10.50-10.25
Stop moved 15.00. taking anything in the 10.00s
Now that the trading day is done, I've given some thought to how in my mind I structure a day like today or rather how I try to think through a pattern to the day based on where we are in an hourly trend / daily trend.

So, things I keep in mind, we were in an up trend for the last couple of days. This would give me a check in the short bias box.

Three 0830 reports and not much happens. We are near the highs of the day. Another check in the short bias column.

It is only Thursday. This is a check in the "Probably going to stay in the last couple of day's range and have no explosive moves up or down beyond the established high / low of that range" column.

Now, based on the above, a sell at 1318 today looking for 3 - 5 points was in order. It could even be argued that if you were inclined to focus on taking only 1 - 2 best trades of the day that a sell there, followed by a separate ATM order to buy at 1305 or so were the two trades to take today.

I also traded the levels I posted in my first post to start the thread today, but that is much more complicated to explain. It involves a minimum of 4 lots, an ATM strategy with profit target, auto break even stop plus auto stop adjustment, and discretionary lifting of lots prior to the break even stop getting hit etc etc.

The above S/R trades are initiated based on how many times has the S/R been approached, what is the tape telling me, what is Delta Buy / Sell volume telling me etc.