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ES 6-2-11

Numbers from todays trade for reference

1320.50-21.50 POC as per time, low volume , volume spikes

25 - 27.50 ****closing vwap, low volume, volume spikes

29.75 High volume

36 - 37.50 low volume zone and volume spike

tomorrow will be MATD trading....hoping for a higher open and a first move up to sell. No other 30 minute bars traded back to the open print today. We'll see what happens over night.
Maybe Mr. BogWig at 1308.50 still have not got his "fill". Hoping there would be his order "leftovers"
1304.00 is a very important number. I think I would get a long here for 3pts target and 1.75 stop loss. Let's see how it plays. My entry would be @1304.00.
NQ gap close = 2316.5. This is brutal
Does big traders read this forum? Wow almost a tick to get in my level.
John, great charts and projection. I think NQ gap closed also played into it. Hope you got your long trade. I am sitting in long since 1308.50... :-(
Volume levels: update

Click image for original size
2011 06 021202
john, i doubt it, but i bet there are a lot of people that use fib projections; sometimes they fall 1-2 ticks short and sometimes they go through a level by a couple of ticks as no conspiracy going on i believe
great analysis regardless...

Originally posted by NickP

john, i doubt it, but i bet there are a lot of people that use fib projections; sometimes they fall 1-2 ticks short and sometimes they go through a level by a couple of ticks as no conspiracy going on i believe
I think as long as our 06 number holds now we will revisit the POC at 1313 area
we are good to go as long as we keep one time framing.....a double top on the highs and a buying tail on the lows...which one shows better impulse to initiate a position ?

the answer will give you the reason for my long bias
Was looking back at some of the oldest posts for the fun of it and came across this one. Some inspiration is always useful.

It's how you play the game that counts

this post is not about MAs or MP or money management or stop losses. this post is about playing a good game.

i've been involved in sports since i was five years old and have heard the old "It's not whether you win or lose ..." saying dozens, maybe hundreds or thousands of times. it didn't take long to get the message, but it did take a while to 'get' the message. in fact, i got it today.

short version of today: i dug a hole, got out, dug another, got out, and finished profitable but played crappy most of the day. it wasn't whether i won or lost, but how i played the game. i finished the day profitably, but was disappointed with my performance. and not in the vein of "Man, i left money on the table ..." or the like. the result was not disappointing, it was the journey that was a disappointment.

i've said it along that i don't trade for the money and i have always meant it. obviously, i don't do it for free, but it is the game itself that i enjoy. the whole process is a kick to me. lately though, the profit/loss aspect has become decreasingly important. the game has become increasingly important. i told my wife that today really tied that notion together for me. i was actually encouraged that i was disappointed with my win. a funny thing about today was that i have had much better worse days - in other words, i have had bigger up days on much worse trading days. regardless, today was my epiphany, my lightbulb, my ah ha!, my eureka!

will i trade flawlessly the rest of my career? no. that's not even a goal or expectation. what i do expect is to play my game and continually strive to improve my game. i'm convinced that internalizing this perspective will be the factor that sets me apart from the masses. it may not be tomorrow or next week or this year, but it will happen. i will continue to play my game, the game of trading.

game on!

take care


BTW: keep in mind i am a discretionary trader. the strategy of game may be less of an issue for true automatic/systems traders. dunno.
take care and good trading -

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