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ES Wednesday 3-7-12


some videos, BLAST and my basic plan..good luck today
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Has anyone read or followed linda raschke's work?

most of her information and ideas are from the mid 90's, but all very interesting idea as i love probabilities and numbers about the market.

one of her ideas was when we have an unfilled gap, to place a buy stop at a tick higher than the previous day's high, stop at a new low either from yesterday or today (so since yesterday was lower, stop would be 1338.25), and target the gap fill within a few days.

i know most of us here are day traders, but curious if any of you have any experience or thoughts on that setup?

ill paper trade it, long 1349.75, stop 1338.25, target 1364.00. (14.25 reward/11.50 risk)
so cool how the market works in our brains: The days we think we have it all under control and fiqured out are the days we get humbled. so many lessons to learn from the markets about ourselves
Originally posted by BruceM

so cool how the market works in our brains: The days we think we have it all under control and fiqured out are the days we get humbled. so many lessons to learn from the markets about ourselves


Now there is something we can agree on Mr. M.....
The key is in the context - IMO, there is no exact way to trade the market because the context if offers is always different but it can be simplified - Hence, there will always be a discretionary aspect to trading..

Not all BO are created equal and they all happen in different context, but the market can do anything it wants and don't have to give you a reason. We all trade premises and they're all different. Price may very well come and close this single but the BO also came out of a narrow IB in a larger uptrend with some confirmations..

As traders, we've often figured out good premises but often, its the context that gets us..
hey Dubya, I think we both agree that you aren't really posting anything we can use and like to show up after a brief trend is over.

Not sure what the purpose is for you ? Lots of good and bad reasons people post on forums. Just not sure what your reason is yet but I have some ideas!
dalton points out the 51 area as the separator of two bigger distributions...could be one fo the reasons why the market is fighting here

http://jamesdaltontrading.com/blog/
well said Jedi...context is critical. I thought I had it all fiqured out today hence my " lesson" from the market. Sometimes the context changes but I'm still working off the context that ultimately they will want to sell the low volume in the 53 - 54 area. Naturally they could blow right through it and perhaps they will.


"when they trend I lose"

Originally posted by Jedi

The key is in the context - IMO, there is no exact way to trade the market because the context if offers is always different but it can be simplified - Hence, there will always be a discretionary aspect to trading..

Not all BO are created equal and they all happen in different context, but the market can do anything it wants and don't have to give you a reason. We all trade premises and they're all different. Price may very well come and close this single but the BO also came out of a narrow IB in a larger uptrend with some confirmations..

As traders, we've often figured out good premises but often, its the context that gets us..
she does great work. I studied her in the late 90's. I have her 3 day manual somewhere...good stuff
Originally posted by horse43

Has anyone read or followed linda raschke's work?

most of her information and ideas are from the mid 90's, but all very interesting idea as i love probabilities and numbers about the market.

one of her ideas was when we have an unfilled gap, to place a buy stop at a tick higher than the previous day's high, stop at a new low either from yesterday or today (so since yesterday was lower, stop would be 1338.25), and target the gap fill within a few days.

i know most of us here are day traders, but curious if any of you have any experience or thoughts on that setup?

ill paper trade it, long 1349.75, stop 1338.25, target 1364.00. (14.25 reward/11.50 risk)
ALL OUT NICE SCALP FOR ME... NO MORE TRADE FOR TODAY...
Do you think her work is still valid in today's markets Bruce?

and for APK, im not affiliated with her or her site, just have that setup today, and wanted to reference where i get ideas or information from to see if others had opinions on it.
Great input today folks. It is really appreciated.