Well, got the gap and go that I talked about in the last post "Advancing Emini Trades Step by Step". Was looking for this Monday, but I think with Victoria Day being the national holiday in Canada we got a heck of a junky day to trade on Monday (thanks a lot!). That being said, today was the gap and trending day and had a few decent trend following entries (green arrows) and one nice, but risky reversal (red arrow) but had a picture perfect, right out of the manual reversal setup with an EE+D (green EE) staring back at us... BAM! The reversal wasn't worth a huge amount after the big rally, but hey when you read em' you read em', right? The entry that is a green/red arrow came off the new indicator I've been working on, my best entry of the day. Not released yet, but stay tuned, should be in the cards in the future. Once we got past the morning it was time to close up the screen as after being so extended it was too risky for me. Missed the top resistance by a tick, but being 30 points away and getting within a tick... not bad anyway. As followers know, trending days, especially up trends are hard for me to catch but I was all over this with the trend indicator, never had a thought of jumping in front of the train until mid-day, but we were extended so that wasn't all bad. If you can get on it and sit on it on days like today, you can make up for a lot of lost ground from days like yesterday...
Hope you got a piece of it!
Wow what a volatile week! Up, then down, then up... you get the picture. Still not buying into this recent reversal and downtrend. Call me stubborn, just doesn't look right. Had a great day after trying to put into practice an indicator that I'm working on to remove a bit of the discretionary part of trading and try to enhance the systematic part. Big task, but step by step, getting there. Not ready for prime time yet, still "spaghetti code" (coders will get this) but a good start. Identifies the long term and short term trend direction mechanically and highlights possible entries in the direction of that trend. Pretty slick if I do say so myself.
Once again the S/R levels pulled their weight and showed us the way. Big rally followed by a drop and a partial rally back up. If I had to guess I'd say we'll see a gap open on Monday and start our push with a big move... We'll see. Anyway, hope this video is useful to you...
Trade what you see, not what you think!
Are we seeing a newly formed downtrend or simply a complex correction in an uptrend? That's the question... I have my own views on that, but love trading the short side regardless. Excellent setups on Friday once again for the EminiEdge Support and Resistance zones as well as the EminiEdge setups, showing up like a neon light. Had a video with actual trades from Wednesday and unfortunately botched the footage and finally gave up. Anyway, hope the action from Friday gave you loads of profits following the EminiEdge strategy, continuing to treat me well...
Still tweaking on the web site and I hope everyone can get used to the changes. It takes a lot of time to fiddle with this and I appreciate the feedback I've gotten so far. If you have any comments please let me know. Always appreciate the thoughts...
Hope you got a piece of it!
Been putting a lot of time in to the face of EminiEdge.com, the website more specifically. It's been a couple of years and was time for a little facelift and I've just been putting it off as bluntly it is a pain in the neck. Just when you think you have got a section done some other bug pops up. Interesting where the term "computer bug" actually originates, but I digress. I'll keep that discussion for another time.
That being said, feel free to poke around. I understand there are a few small bugs yet and I'll continue, as always, keep updating as I go along. There has been a few updates to the content and I am working on more for future release. Putting together more information on Emini contracts, brokers, platforms and such as well as working on a couple of indicators to automate some of the entries we take as discretionary traders so watch for that. Coding on a web site is loads different than programming in Easy Language, but I'll straddle the two and come up with a good combination in the end. My ultimate goal would be to implement the EminiEdge Trading Strategy into an automated task and have the entries and exits be executed by the platform, more of a systematic approach. This has proved difficult in the past but going to give it another run.
On another note, had a few good setups on Friday, short right away followed by a quick long. It was
moving slow for me so only ended up with a few short runs and wasn't able to sit on the long in to the afternoon, hope you got a piece of that. The weather turned sooo nice, and after a crappy winter, I wanted to stop at the local brewery and enjoy the 88 deg (F) weather with blue sky and sun. I guess we can't appreciate the nice weather if it weren't for the bad. Seems like there is a trading lesson in there (always is for a trader) ...that you can't truly appreciate the wins without the losses... Hmmm.
Anyway, a new week is upon us and I'm expecting some chop as our sell-off has stalled and the upside seems labored for now, so take quick decisive profits off the table.
If you have comments on the web site either what you see or don't see, let me know. I always like to hear feedback from followers, even though sometime I don't agree :)
Hope you got a piece of it! Trade what you see, not what you think!
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"Trader Joe" trades the Emini S&P exclusively and is the main influence behind EminEdge.com.
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