es 12-14-12

here's my basic plan and numbers....meant to say "afternoon pullback high" up at the 1416 area..if we open in yesterdays RTH range then pitbull numbers will be more accurate


u will need to turn up the volume

for clarity, the 04.50 - 05 is one support point and the 07.50- 08 is another support point...1412 - 1414 is the magnet zone....as long as yesterdays vwap holds then we will break yesterdays lows first

That is correct....once the pitbull "window" is run you stop trading.

Originally posted by duck

so we will not buy the -4 number? cause it traded 2.5 above and below..am i right?

Originally posted by duck

thanks for the answer tradequeen

No worries Duck... Just a heads up... This is a strategy thread and not an education thread. While Bruce does cross that barrier for us, I'm guessing (from experience)that he does so before the RTH open and sometimes before he is finished for the day.

The thread has been slow so you can see I kinda crossed that line as well. big APOLOGIES.

Also note that(my disclaimer)... while I am a much better trader today than I was yesterday... I am still the worst trader in the world.

So double check anything I write and share what you find if I'm wrong. I'll try to do the same for you. cheers!

things that make the mean regression trader work harder and this goes for the pitbull:

Opens outside the previous days range

days following low range days and inside days, also NR4 and NR7's

anything that implies we may have expanded ranges hurts pitbull traders...like an NR4 day

You really could only be taking sells today after the plus 2.5 hit as we would then expect to see a return to the open and the minus 2.5...the fact that the minus 2.5 number didn't hit in the first 90 minutes is irrelevant..the pitubll only goes for 1.5 points of target so you would getting out at 1408.75 on shorts...that is the system exit as taught to me.

I spent over 20 years living in Connecticut and 10 of those years were when I worked for IBM in the late 80's in a town called Southbury. Southbury is only one town away from today's shootings in Sandy hook/newtown CT.

A fantastic area and lots of great people down that way. Newtown was one of the few places where you could still go to the movies for about $1.50 up until about 6 years ago. A quiet place. Not sure what happened there today but my prayers go out to all those families affected by the tragedy there today.

A bit after hearing the news my buddy Rob sends me an email and tells me that somebody is actually voting down some of my posts today here at mypivots. I have to laugh because if I did this for the votes I would have stopped posting here a long time ago. Don't get me wrong , we all like to have feedback especially when it is positive but there are a lot more things to be concerned about in the world.

We are all surfing the web and interacting to become better traders or to pass time. If some get their kicks by voting down posts then go for it. Negative energy comes back to us when we do things without good reason. Perhaps my explanations just sucked today.

On the flip side we are sending lots of good thoughts to Nick so I'm happy to see that. We need so much more of that in the world.

Ok, I'm kicking aside my soapbox and pouring myself a nice tall glass of red and water. Almost every 15 minute bar passed through the open today so not the day to be expecting trends. The best trends come when we trade outside of both the previous days range and the overnight range and stay outside those ranges.

Be careful on any fades from here as there is only so long they will consolidate before breaking away from current value at 1410. hope all have a great weekend.

I have been absent from the forums but I wanted to take a moment to let Bruce know that it is hard to imagine who (in ther sane minds) would vote any of your educational posts down. The positive externalities you create, trading related or not, are immeasurable; and that's what you really need to take with you at the end of the day.

Thanks

Nick

Thanks for the good words Nick..that mixes well with my Red and water !

Bruce... I've always appreciate the info you provide. Sorry to say.. even your bad days. Me being very green at this trading lingo... your bad days show me your human and even the pro's get thrown occasionally.

My daughter just turned 18 and I want to save to get her started at trading... I think she'll be great at it. I was just telling her about it this morning, that it's nice to have a person close to bounce info off one another. For example, if she made a bad trade and I happen to make a good trade... it would be cool to have someone to discuss who did what right and how.

We've been watching the news together most this morning, so I've stepped away.

I often try soo hard not to structure my post as to where they appear offensive. And too often I'll reread them and think... gosh I hope he or she doesn't take that wrong. I personally don't see a need for a down vote button... and I don't see any negative votes next to you on my pages, but I don't know.

I just hope that anything I write is not taken negative, because I'm probably just trying to be useful. And I usually feel bad if I ask a lame question of ask question at the wrong (busy) times. After all... most everyone here IS trying to make some money.

So again ALL the information you (and many others) provide is very very much appreciated by me.

Big Prayers go out to all the people of Sandy Hook/newtown CT.

Nick... I need to read the book... making my point in 30 seconds or less. Very well stated.

Originally posted by NickP

I have been absent from the forums but I wanted to take a moment to let Bruce know that it is hard to imagine who (in ther sane minds) would vote any of your educational posts down. The positive externalities you create, trading related or not, are immeasurable; and that's what you really need to take with you at the end of the day.

Thanks

Nick

Just type what you fell tradequeen...we can all handle it...I always appreciate what people have to say ...you write well so don't hold back

Has anyone here been successful "trading 3s" as suggested by MrTopStep? If so (and if you don't mind), please share your thoughts.

"Ratchets" seems to be a flavor of Murrey Math.