Took a swing and missed.
Update I originally had my stop at 1092.00 but I decided to get out to "save" some money however that was a horseshit call because it stopped on a dime at 1092.25 should have stuck with my original instincts.
Thursday, December 17, 2009
Wednesday, December 16, 2009
Tuesday, December 15, 2009
Double Distribution
Volume indicates a double distribution day with 1106.25 at the dead middle between the distributions.
Stopped Out @ 1107.75
C did layer above 1107.50 so I exited trade @ a small loss. Waiting for more development.
Volume Range 1106.25 to 1103.00
Waiting for a breakout to either side, if no breakout occurs I will try and sell the high of the range and buy the low.
Monday, December 14, 2009
Chop Chop
I am finished for the day. Didn't make any money didn't really lose much either, I am down a few in commissions thats about it.
Last Trade 1108.25 Short
I am short at 1108.25. It layered back into the initial balance and underneath the previous bracket. I am playing this to the downside and if I am incorrect I am done for the day.
Stopped out 1109.
I need to sit back. Been way too jumpy today going to watch for the rest of the day.
Trading Like a Bitch.
Took my money at 1107.75. I don't know whats going on I just don't feel comfortable in this region. Going to stay out of the market until I can gain some comfort.
Exit @ 1108.50 Short @ 1108.75
I could be chopping myself up getting out and getting short so quickly but it sure looked like a failed push higher.
Possible test of 1099.75
Not trading the first hour waiting to see how it develops but I have a feeling we might test that 1099.75 level. It was hit last night and on Friday it was the value area low.
Friday, December 11, 2009
Missed an Excellent Trade.
I was sitting here watching M fail to layer up and it slowly starting trickling down and what happened was I missed the market as it traded 1107.25 I put a limit it at 1107.50 it didn't get back to me and it got away. Rather than going market I missed out on an excellent trade but chasing can be a dangerous thing and I rather miss out on a trade than get fucked on shit fill. Oh well better luck next time!
Starting Monday Moving to March
I will no longer be trading the December contract as it is nearing expiration.
Out at 1104.75
Volume Resistance was at 1105.25 We got close to it and stalled I wanted to take some money and I did.
Long at 1103.50
Keeping a close watch on this trade we just layered into the IB, and if we can stay in this area I will feel more comfortable with the trade. If it fails to stay in the IB I will get out.
Value Area Low Test
I am waiting for bracket F, if it layers back into the IB I will buy it if not I will look to get short. We tested yesterday's value area low and held.
Thursday, December 10, 2009
Done for the Day.
A pretty slow / dead day. There was money to be made / lost but I did not want any part of it. A big part of trading is know when to pick your battle and I just didn't see it today.
I called it. Still @ Zero Trades.
Earlier today I made a post saying it looked as if today would be a normal distribution day, it turns out that I was correct. However I still haven't made any trades on the day because sometimes these type of days can be the most dangerous. What appears to be a slow day just sitting in a tight range can sometimes explode and blow up in your face. I am waiting to trade an explosion if it does not occur I will end the day @ 0/0 which is totally awesome! No losing trades is always a good day.
Zzzzzzzzzzzzzzzzzz
BORING DAY. Do not fall asleep and don't get bored into trading this crap. Wait Wait Wait! If it does not come tough shit. You are not supposed to give your money away if you are trading this shit right now close out your position your wasting your time.
Battle for Control
It appears as of now that no one is ready to try and take control of the day. I am sitting back until I can get a better picture of who is going to win this battle. Notice how net longs got to around 10,000 then we broke and shorts got to 14,000 but then we pulled back 7,000 shorts just recently.
Volume Distribution.
Volume looks early on like this could be a normal day. I highlighted the regions I believe to be safe areas to buy and sell. Look to sell around 1106 and buy around 1100.50 only if you are going to play this as a regular distribution day. FYI I don't trade till after the first hour.
Wednesday, December 9, 2009
Closed up shop
Gotta be happy with a winning day. 3/3 isn't bad, even though I only took 2 of those signals. All I look for is 3-4 trades in a day.
Layer Out of IB
Good trade setup here. I am personally not taking this trade as it is later in the day and crazy things tend to happen. You have a layer out of the initial balance as well as a layer through the "ledge". Good buy signal.
Little Pop Down?
Sitting on the sidelines, however I am suspecting we will have a slight move downward and then a good run up into the close. Above is a 1 minute chart with some hand crafted TREND LINES!
Short Squeeze
Look for short term run up here our traders net position for the day went from 5,000 long to 15,000 short. Smart money will try and squeeze them out. Possible area to sell at 1091.25.
Heading Lower
I believe we will test our lows as it is at the tail end of the volume distribution for the day. I am not putting a trade on but I will look to see a test of the lows and if it will hold. If it does hold I will look to buy.
Short at 1093
I Sold 1093 even though we have a small Initial Balance, I think we will grind lower because we hit the top of Yesterdays Value Area High and failed to stay up there.
Tuesday, December 8, 2009
Stopped Out @ 1092.50
The M TPO layered up above the L TPO so I exited the trade as a small loss of 1.25 points.
Looking for Short at 1091.25
Market has been grinding lower this afternoon looking to get in on the downtrend.
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