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ES Tuesday 1-27-15


Bands for the day. Hopefully I did not mess up today.

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iv012715
probably for the market to pause a bit rather than driving through the price..
need to see this 16-17.75 turn into support ...much like we saw the 39 - 40 YD...same concept.....so keep that in mind to adjust stops....no need to get stopped all the way at 13.50 with that shelf above
i watch the Time and sales...so I am not just buying a falling knife...but I also have my one minute charts to help confirm
Originally posted by apk781

price slow down? what do u mean by that Bruce?
trailing stop tightly now......don't want to give back 4 points to make an extra one points........then it is off to hang sheet rock...NOT my favorite thing but it gets me moving........oh hell...pulling the plug at 20 print...not gonna have them torture me....we all know that Ib low is there......I'll let somebody else hang on to try and get the full print of that...we may just jerk back to 17.75 and I don't want any part of that...enjoy the day from here.......we are 11 minutes over today....it's 11:11!!
can u elaborate on that when u have a chance, what do u look at exactly in the time and sales ? i ask becuase many times it seems like u r indeed catching a falling knife in some of the trades u post and the trades mostly work so curious what it is u use...thanks

Originally posted by BruceM

i watch the Time and sales...so I am not just buying a falling knife...but I also have my one minute charts to help confirm
Originally posted by apk781

price slow down? what do u mean by that Bruce?

apk...I'm watching not only how fast I am seeing blue or red fly past on time and sales but I am always watching how my one minute bars are painting.....are they painting small and condensed or elongated and closing on their highs and lows..........also, and this is very important....i will often take multiple tries in my zones......there is no way I have the time to post how often I try as it is happening each day on the forum.........but I can tell you that I never try more than 3 times per zone/campaign......some days I get it right the first time, some days it takes two times before I get what I want ....sometimes it is the third time.........some days it just blows through the spot and I get no signal or I try the first time and it blows through the line and I don't get to try a second or third time....when that happens I wait and then look for a retest back up or down to the area that failed me....these usually show up as air pockets ....so I trade for them. or wait until my next zone hits...some days I just take the loss and then it blows through..

there is no question that there is a certain "feel" to this..........

if somebody is looking for entries I think it would be better and easier to use a .75 or one point range chart and buy breaks above the highs of the low bars if the market has dropped down into a predefined buy zone....if you are looking for short trades and the market has rallied up into a resistance zone., then take sells off the low of the high swing bar breakdown point............you can use volume in the lower histogram pane to help with those types of entries

here is my holy grail : You need to be able to take quick and small losses and not be afraid to try 2 more times at your zone if u fail the first time

most can't handle losses, hang on too long and hope the market will come back.....and some days it does come back but after taking thousands of trades I am convinced that it is usually better to take the loss and just try again.......hope that helps
Originally posted by apk781

can u elaborate on that when u have a chance, what do u look at exactly in the time and sales ? i ask becuase many times it seems like u r indeed catching a falling knife in some of the trades u post and the trades mostly work so curious what it is u use...thanks

Originally posted by BruceM

i watch the Time and sales...so I am not just buying a falling knife...but I also have my one minute charts to help confirm
Originally posted by apk781

price slow down? what do u mean by that Bruce?


thanks Bruce
thanks Bruce. that is what i struggle with. taking the quick and small losses. need to get better at that