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Author: stevieoh Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 794  
Subject: ZZZzzzzz Date: 7/21/2002 9:54 AM
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HELLO Hello hello.......ECHO Echo echo

Well, I just feel like writing a short essay on my extensive 3 week history of trading Emins....mainly S&P butI do trade NQs on occasion.

What I have learned so far......Including commisions, I trade only 1 contract, have done 2, but only once. The one time I traded 2, my first week, I watched my trade blossom from 0 to +$2k in under 20 minutes, only to take a $100 profit because I wanted to hold - message to self: idiot move.

1st week lost about $500, aside from my own stupidity, overtrading was culprit #1. I had no idea what I was getting into.

2nd week lost about $600, thought I knew better but over trading again. I started to see that I could not rely on certain stocks as indicators.

3rd week made about $3k, Using Stochastics at 8,3 and BBs on a 2 minute set at 8,2, TRIN, S&P Emini cash front month ($EPEM.X on Qcharts) DOW was also an excellent indicator this past week. Entrance is everything and I try to rely on BBs for best entry. Stops get taken out like nuthin. Notorious stop gunning on the ES, way way way more so than stocks IMO. Phantom huge bids/offers that dissapear. Often when the huge bids/ofers appear, price travels towards them, not away from them as one would think after trading stocks with L2.

The first two weeks I prolly made over 70 round trips a day sometimes more some times less. The Third week, I prolly am making less than 40 trades a day, closer to 30 round trips I think. Each trade I try for a minimum of +.25. Trying to always take no more than 1 point loss but have taken as much as a 4 point hit once.....only to have price pivot off of my stop. Hate it when that happens. I will scalp for points when I can.

Basically, when TRIN is at extremes, i.e. well below or above 1, I try to trade with the TRIN, when stochs are ready to turn and BBs confirm with price, I will check the DOW and PREM.X then enter. Price is #1 indicator, followed by BBs, then stochs/DOW/PREM.X.

So far, my worst time of day to trade is piddle and open.

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