Friday, 2 July 2010

No Fireworks

1000 held yesterday in the ES. As I start writing this, We are over an hour before the jobs report. The market has been going sideways all morning in London. I took ticks here and there before I took the dog for a walk in the park. Now I'm waiting, along with the world, to see if we get pushed into the depths of minus 1000 or whether it Happy Days are Here Again and people go into denial about the huge problems evident all around us.

Number was an anti-climax. Price played pin ball for a couple of minutes until there was a clear trade about 3 1/2 minutes later selling short at 1024.50 ish and riding it down to the VAL of yesterday's 24 hour Profile. Yes, I follow both Profiles as there is support and resistance in both. The market sometimes clutches at straws and the volume is visible if you look.

I was really done for the day after that trade as there was about 7 points per contract in the trade. And RTH hadn't started yet. But I couldn't resist and traded until the volume ran down as people left for the 4th July week-end. Some colour changes to the chart.


  1. Tom
    Could you please comment on Trade 6: a "valid" signal was 4 bars behind - the first red bar crossing the 33EMA. Than 2 bars behind another cross.


  2. Adrian, I don't understand the question.

  3. From Trade 6 go four bars or two backwards. I think there were 2 valid signals. I took the first one at 14:44:08.

    Another question to Trade 2: how did you manage to get in? The two red bars before the entry have the same time stamp (13:37:30). You should have got a fill at least one bar before. Maybe there is a data error?

  4. Adrian, I would guess because price was coming down into yesterday's VAH at 1024.50 and we needed to see if it would hold or break before selling short.


  5. EL: First, GREAT blog!
    I'd have 2 quick questions for you/Kiki:
    - what criteria do you use to decide NOT to trade a slow morning/european session on the ES?
    - what software do you use to pass orders? I looked at marketdelta but realized that it doesn't have any bracket orders (it's good at many other things though).
    Thanks a lot. -Max