14 06 10 Am I lucky?
Posted 06-15-2010 at 12:21 AM by gcabrera
Sometimes I feel that I am lucky, because I do the things that are not supposed to be made and got along well. Trading, I mean. Today is an example.
At around 10:50 I started watching my charts, since I was invited to a trading room where they use a software similar to Market Delta.
I have to be honest, the guy seems to make good calls (even though had to counter trend losers to start the day), but I guess I have enough information with my charts and indicators that make me see better entries than using Market Delta.
Almost immediately, I noticed that big 455 selling order and armed myself to wait for shorts. But the wait was very long and only buyers came in during the fall, not convincing me where to enter. Actions was slow most of the time, very boring.
Then at around 11:21 two big selling 437 400 orders with divergence set me to wait for entering short probably at the open price level, orange line. I donīt know where my eyes were at that time that I missed the moment and after falling a little bit, then price started to rally when it was stopped by a 356 order, but no divergence.
It was clear sellers were laying their orders while price moving up and then they also confirmed it with 400 more contracts after breaking previous swing low.
I expected price to retrace to enter short but it kept making new lows with no pullbacks, even with divergence and no substantial buyers signaled the reversal, until around 12, when I saw price making the best of the divergences... price falling and AT line rising..... that is total weakness. So I entered my order one tick below last low, got filled and immediately a 500 buying order appeared that sent the price up in a rush for 5 tick gain, just a moment before that buyer took profit.
Next trade at 12:18, I played the bounce at previous day high, that I saw price was falling to that level but with almost the same kind of divergence. Again, placed my order in front of the level and another one 4 ticks below it, just in case the level was breached. A big order of 504 selling made the price reach to the level and got me filled but I noticed that many buyers were entering and figured out that price was going to bounce at least at around the level of the 504 dot, for 4 ticks gain, that were completed very fast too. lucky me.
The pivot levels were correct in the 3 min chart but not in the 233 ES nor 37 YM, but I did not wanted to fix them since I didnīt want to loose the information plotted of the big lots participants.
Learning: ninja pivot levels on Monday should be placed calculated on Friday open, high and low. Otherwise, they will be miscalculated using daily levels.
At around 10:50 I started watching my charts, since I was invited to a trading room where they use a software similar to Market Delta.
I have to be honest, the guy seems to make good calls (even though had to counter trend losers to start the day), but I guess I have enough information with my charts and indicators that make me see better entries than using Market Delta.
Almost immediately, I noticed that big 455 selling order and armed myself to wait for shorts. But the wait was very long and only buyers came in during the fall, not convincing me where to enter. Actions was slow most of the time, very boring.
Then at around 11:21 two big selling 437 400 orders with divergence set me to wait for entering short probably at the open price level, orange line. I donīt know where my eyes were at that time that I missed the moment and after falling a little bit, then price started to rally when it was stopped by a 356 order, but no divergence.
It was clear sellers were laying their orders while price moving up and then they also confirmed it with 400 more contracts after breaking previous swing low.
I expected price to retrace to enter short but it kept making new lows with no pullbacks, even with divergence and no substantial buyers signaled the reversal, until around 12, when I saw price making the best of the divergences... price falling and AT line rising..... that is total weakness. So I entered my order one tick below last low, got filled and immediately a 500 buying order appeared that sent the price up in a rush for 5 tick gain, just a moment before that buyer took profit.
Next trade at 12:18, I played the bounce at previous day high, that I saw price was falling to that level but with almost the same kind of divergence. Again, placed my order in front of the level and another one 4 ticks below it, just in case the level was breached. A big order of 504 selling made the price reach to the level and got me filled but I noticed that many buyers were entering and figured out that price was going to bounce at least at around the level of the 504 dot, for 4 ticks gain, that were completed very fast too. lucky me.
The pivot levels were correct in the 3 min chart but not in the 233 ES nor 37 YM, but I did not wanted to fix them since I didnīt want to loose the information plotted of the big lots participants.
Learning: ninja pivot levels on Monday should be placed calculated on Friday open, high and low. Otherwise, they will be miscalculated using daily levels.
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