seems like a good idea

With the weekly pivot sitting down below at 1512 area and the market up at 1523 it seems that selling is a good idea....only concern is the 4th of july seasonal but for example purposes lets use a risk reward of 1 to 1 on this...so the loss is up at 1434 area..will trail as needed...for example if we break the hour low today then the stop will move to the hour highs.....

Perhaps we should take some partial profits somewhere too.....anyway I throw this out for discussion if anyone cares to join in.....

I like the idea so much that selling 1527.50 as an add on works with a 23.50 target....then stop on anything else that is trying for longer target will go to 27.50.....Got it???? at least for today...lol

seems like dow is trying to lead out at noon time to upside..interesting..S&P just filled single prints at 1525 even and moved up from there..could mean trouble

Good luck Bruce.

Ok that's a done deal except for our "runners" as 1523.50 just hit... so stops at 27.50 if we are lucky enough to get a further sell off...


The educational part of this should be most important:

Look where the R1 level was today..1529 .where did the plus 4 and 5.5 come in at?...25.75 and 27.25...Lots of time spent in there... ( see pitbull tread) Look at that great Dow divergence on the last push up at about 12:10 eastern time..

How far where they able to push it out of the hour high.....one Tick to 1528.75!! As of 12:45 est...

tricky pre- holiday trading but fun anyway.....

Bruce

Thanks DT....as you know , there is a great calm in having multiple contracts on ( especially when the position goes your way) and averaging into positions as long as you don't violate your own personal risk per position numbers. This is much different then averaging into a losing trade!

Most won't trade like this and probably shouldn't try but I find it so difficult to "call" an exact top or bottom.

In this case we made a losing initial position ( notice I didnot say trade) better by averaging in at a higher price...I also brought the stop down ( not mentioned) as I added to this short to keep my overall exposure the same .

I think where most fail doing this is they violate the percent risked of their account on a per trade basis.

Even though this was "put on" in two seperate positions it is still looked at to me as one trade. I think this will probably get stopped out at 1527.50 but at least we don't need to worry about it now.

Bruce

quote:

---

Good luck Bruce.

---

Ok the runner contracts where stopped out..looks like 31.50 is the key on upside now so we'll see..this is more of an experiment and to illicit different trade ideas in an attempt to capture the weekly pivot sitting below at 1512 area..enjoy the holiday break

Bruce

One of the tough things about trading is getting sufficient data and experience from rare events. Each holiday comes at a different time of year so each one can be viewed as an annually occurring rare event - as opposed to holidays in general which occur in sufficient quantities to collect enough data. The other problem is that the market backdrop can be very different in each year. This makes almost every holiday a unique event that is difficult to judge because there is little or no precedence.