Are we there YET? Almost but…
As much as I want to call the Cycle wave 3 as complete with a Cycle wave 4 correction now underway – I can’t. The strong sell off of yesterday’s 13599.75 high in the NQ dropped prices 715 points to today’s low at 12884.75. There were periods of free fall as the index shed 100 […]
Continue readingAnalytical Tools | Day Trading Tools | Elliott Wave
Day Trading Tools I Use in Technical Analysis Elliott Wave Principle In 1939, twelve articles by R.N. Elliott titled “The Wave Principle” were published by The Financial World. From the original publisher’s note: “During the past seven or eight years, publishing of financial magazines and organizations in the investment advisory field have been virtually flooded […]
Continue readingWhat or Who was Behind the Buying in Crude, $CL
With the myriad of players moving in and out of the Crude Oil markets and its affiliate or component products Heating Oil and Unleaded Gasoline, it becomes a definitive benefit to reference a “larger picture” view. This helps determine the trend and prevents countertrend trading when the markets move into a transition from one level […]
Continue readingHumility is a Learned Virtue
There are days when the markets are likely overwhelmed by the extreme flood of data flowing in and out. The type of day when sudden and extreme moves paint 50 bars in all directions all at once on your chart, that happens to be hooked up to its own algorithm to generate buy and sell […]
Continue readingIs there a Wow Factor?
The answer to the title question is an unequivocal “Yes.” It could be the widening of your eyes in amazement as the $ES trades in a 20 to 30 point range both to the downside and upside in 30 to 75-minute increments for a good five hours straight. Using the right tools, (signal generator and […]
Continue readingMarkets in Transition – Crude Oil
As I began my last post I continue to understand the trading mantra, “I don’t care.” I do care as to whether the shift in trend is towards buying or selling, but I don’t care about the why or what or where. This, for the most part, allows me to concentrate on the momentum. The […]
Continue readingMarkets In Transition – Economies Too?
I fully understand today’s trading mantra of ” I don’t care!” It makes total sense if you are just trading the number according to what your signal generator is telling you. However, it can become a nagging problem when the trader in you surfaces and begins to haunt the thought process by questioning the “Who, […]
Continue readingHappy New Year…Are We There Yet?
The first trading day of 2016 produced an awesome volatile day with many “decoupling’s” taking place. The finish of one year and the start of the new year often produce numerous “decouplings” as money begins to shift strategy. China got things going coming into Monday morning with the major equity exchanges shutting down after dropping […]
Continue readingBlack Monday, October 19, 1987
Getting Back in the Habit I believe the best way to induct myself back into the creative habit of writing my market thoughts in a somewhat narrative format is to actually put down what I experienced during the day and how I dealt with it – trading wise. While I have experience trading many different […]
Continue readingMonday November 9, 2015 – Today’s Chart(s) $ES, $CL
I’m sure that many traders woke up with the Monday morning “blues” as most markets traded lower. Regardless of direction, though, there were many opportunities across the board. If you trade multiple products, it could have been a difficult day trying to keep up with all the signals. Today was a clear case for good […]
Continue readingCrude, $CL Chart 11-02-2015
Crude continues to have more “moments” of 20+ tick moves than the equity markets over the last 5 trading sessions. In the absence of any strong economic or oil related news trading was primarily a steady ebb and flow producing solid enough signals for trading. Today’s net total of +51 ticks was per contract and […]
Continue readingS&P 500 ($ES) October 21, 2015
The ES started the session with some quick chop as traders paired off to decide direction. The first 30 minutes easily gave way to stronger trends for the balance of the session. Learning to trade without emotions seems to be the best methodology when stepping into the world of algorithmic trading. You can’t care as […]
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