Lots of trade setups during this session and looking at a new swing trade very soon.Will come back soon to explain, have a nice weekend.
Saturday, September 29, 2012
Friday Price Action Review around Key Levels
Lots of trade setups during this session and looking at a new swing trade very soon.Will come back soon to explain, have a nice weekend.
Wednesday, September 19, 2012
Trade Plan for Today : New Swing trade
3:13pm est : Booked profits for another + 6.75 pts , Total on both positions : + 11.75 pts
3:10pm est Update : The ES is trading at 1459 on its way to target . . .while SriramaTanniru ( StockTwits ) sold at 1456 and LOST again - 2.50 < Sold against the trend ? ! and he calls himself a " professional " ?
10:40am Update : Another Long Position added at Key Level 1452 < Long 1452.25
Now trading 1457.50 , booked profits + 5 pts
JaguarTrader ( StockTwits )
Yesterday was a NR 11 , very narrow day. The close was above the Opening Range but below the Pivot. B.O.J. Stimulus News pushed the market up to key Resistance .The ES is now trading above the previous Value Area. The Key Zone : 1452 to 1453.25 < Bullish Above , Bearish below.
As adviced to subscribers : " There is a strong probability that the ES will drop down as soon as it opens, due to the 30 year T-Bonds and the Dollar Index strong pre-market up trend." < exactly what happened
Expecting that key level above to be retested again today : Long from 1453.50
9:08am Update : Long positon in profit + 2 pts, scaled and booked, waiting for next target.
Trade Setup and Analysis : Available Upon Request < Leave comment on this post if interested
Sunday, September 16, 2012
Steps To Better Emini Trading
- What turned my trading around ?
- Applicable to not only Emini Trading
- Not a sales pitch for some " better " indicators
- Will try to be specific, not just platitudes
- Just my point of view - a trader with steady consistent income, not a guru
Target a small daily profit ....Stop over trading ....Set a profit target of only 4 points
with one contract only and then continue every day for at least 20 days. One shot, one kill and stop trading for that day. Try to maintain the discipline and control the urge to keep trading for 20 days.
If there are two consecutive loss trades , then STOP and do not continue because the frame of mind will not be an edge or in the right mode.That's the strict discipline that must be maintain and honored.
The habit to control your instincts and emotions is the key for a beginner successful trader, if this can be achived early , then the path to consistency will follow.
Why 4 Points ?
In 15 years the range of the E-Mini S&P500 Futures has been an average of approximately 10 points.
4 Points = 30 % of Average Range in the past 15 years < an achievable objective with very little stress.
Go for singles NOT home runs. Use achievable profit targets, NOT trailing stops.
Don't care if the day's range was 25 points and you only took 4 points < you want to stay in the game
and work on the discipline and mind control !
Monday, September 10, 2012
Swing Position Wins - Update
Open Position 4:00pm est Update : Short from 1437.50 now + 6.50 pts booked
Second Target Booked + 6.50 pts , Total : + 11.75 pts = $ 587.50 per contract
Waiting for Final Target .... Filled and booked + 9 pts < End of Trade : + 20.75 pts Total
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Here is Tip for you : If the ES doesn't retrace back down at least 50% by the end of Pit Lunch time around 1:30pm est , odds are that the ES will price a new extreme HOD after 3pm if not before.
12:14pm est Update : booked profits again + 3 pts for a total of + 5.25 pts. You missed a good one Ron ! , LOL
11:53am Update : Short @ 1437.50 , booked profits at 1435.25 for + 2.25 pts , now trading at 1434.75. Hey !, Ron from Long Beach, CA are you watching this ?. You should've sold it at VAH and get your money back after your loss trade ! LOL
11:30am est : SOLD Short 1437.50 , now trading at 1436 at 11:42am
Note : 1437.75 was VAH
Will SELL Limit Order : 1436.75 , now trading at 1436.25 - 11:22am est
10:57am est : SOLD Short 1435.50 , now trading at 1434.75 , Stop : 1436.50 < hit for a loss : - 1 pt
10:00am Will SELL 1435.25 - at test of Key Institutional Level : 1435.50
Tuesday - Sept 11 - 7:00am : Will Sell 1432 , now trading at 1431.25 Globex High
8:50am est : Booked profits at 1429.50 for + 2.50 pts
7:28am est : SOLD 1432 < Took profits at 31 for + 1 pt
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Open Position : Short @ 1436.50 initiated Sunday night Sept 09 - Globex Session
Trade Setup : See below - Fourth Target filled and booked at 1422.25 - profits + 14.25 pts
( 1422 - S 1 and 38.2 % Fib ) Also 1422.50 is a CHVN
Total Profits scaled all targets hit: + 40.75 pts Last Target : 1419 Key Level < Will reverse position to Long at that price during Globex ONLY. < NO Fill, Order Canceled
JaguarTrader ( StockTwits ) aka TraderTopGun
New Swing Position
E-Mini S&P500 Futures ( ES ) :
Monday, Sept 10 - Update :
Short @ 1436.50 : First target booked for + 4.75 pts , Second Target filled and booked + 8.25 pts
Third Target : 1423 filled and booked for + 13.50 pts, Grand Total : + 26.50 pts
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Sold Short @ 1436.50 with target at 1431.75 , Booked profits at 1433.50 + 3 pts
Trade Setup :
60min MACD Bearish Divergence and
Proprietary Stochastic Reading of 97 on Sept 07
RSI ( 2 ) Reading : 97
Will BUY duri ng Globex only( Limit Order ) at 1432 and 1431.50 with a stop at 1430.50 < NOT filled, canceled.
JaguarTrader ( StockTwits ), aka TraderTopGun
Thursday, September 6, 2012
Swing Position Update - Home Run !
Long @ 1398 E-Mini S&P500 Futures : Sept
The 3rd Target: 1416.25 hit and booked for + 18.25
The 4th Target at 1419 : was also hit and booked, took profits again + 21 pts
The Final Target at 1432 - hit and booked profits + 34 pts
1430.25 was the R 4 and LVN < The price action consolidation and accumulation for 4 Hours was a clue that it was going to breakout to new 52 Week High and short squeeze the late Shorts.
Weekly Key Level: 1429 - May 20, 2008 and R4 at 1430.75
The Grand Total Profits for this Trade : + 99.25pts or $ 4,962.50 per contract
Done for this trade
I would like to thank all traders that took the WRONG position by Selling SHORT in StockTwits that made this possible :
" denichun " - Keeps building short, YEAH RIGHT ! , " Big_mike73 " , " bradha " - Bradley ,
" SriramaTanniru " - Amateur( novice ) < not aware of key levels, losses against the strong trend ! ( incompetent ), " upmkt5 " - Mark Michel < this guy has lost so many times and won't learn ! , " ChartMoMo "- Ryan Cormier < " I have lost 5 followers in 5 min by posting s&p 500 short trades " < Won't listen to the market trend ! "TexasTrader" < too many consecutive losses, won't improve, UNBELIVABLE but true
The above should have had listened to this Trader : " soulfire " - " Bears should take note, the closer we move to elections, the less likely any major market plunge- more likely the opposite will occur"
Keep trading against the trend gentlemen ! LOL
JaguarTrader aka TraderTopGun
Monday, September 3, 2012
New Swing Position
Thursday - Sept 06 - Update:
Open Position is now GAIN : + 15 pts and Second Target reached and booked
Total profits now : + 26 Points = $ 1,300 per contract
Next Target : 1216.25
At StockTwits < " JaguarTrader " < follow me there
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Wednesday - Sept 05 - Swing Position Update :
Long ESU12 - Sept Futures E-Mini S$P500 @ 1398 since Aug 31
Open Position GAIN + 11 Point
Today's Price Action : N R 4 and Inside Day - Expected second target at 1412
Review : The ES Market opened and drop down to the 61.80% Fib at 1399.75 where it found support
as expected closing above the Key Institutional Level on the first 30 mins of trading.
On the second 30mins period the market tested the Key Level then it auctioned up to above the Globex High where it closed. Then on the second Hour it continued the uptrend up to the Key Resistance Level #1 at 1408.25 where a revesal took place down to below the Pivot where it closed.
The Fourth 30min period the market droped and found support at the 50% Fib Level and reversed again closing above the Opening Range. After a Consolidation period of 2 Hours above the Opening Range until the 5th Hour where it droped again to the 61.80% Fib Level and closing above this level thus making a Double Bottom. So the Key price action clue was the holding of the 50% Fib Level.
End of Review - For Key levels follow me on Twitter or Leave an Message on this Post
**********************************************************************
Sunday, Sept 02
Back from a Summer long Scuba Diving and islands voyage through the Caribbean and Central America tropical Islands.
New Position in the E-Mini S&P500 Futures Sept ( ESU12 ) : Long 1398
11:30am - First Target hit and booked profits + 11 Pts = $550 per contract -
Open Position Long @ 1398
Next Target : 1412
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