Emini Trading

[SSI]

for anyone interested, please look at "the commodity traders forum"... it has lots of information..

an educational center, which includes a glossary of terms..

market data center, which includes 10 min delayed quotes..

resource center

and also a forum, to use in much the same way that we use this one..

check this site out, if at all interested in learning "how to trade".

 

[SSI]

thursday july 13

things are coming together really fast, in 3 weeks (and one of those is vacation), i should be trading bigtime again...

Please read 2 posts above, i said to sell the 1270 area.. please look at todays high (1269.75)....... folks you cant call it better than that..

quickly on to today and what the market is saying..

high of 1269.75 then a selloff down to 1259.25 (around 8 am cst)... that was a really nice move down and more money could have been made... remember this is still working off the old 1283 high area...

Nothing to say today (early in trading day), except to sell any rally's... the market is wanting to go lower (at least early).. we will look for spot to sell..

word of warning to myself: be careful of a late day rally, which could consist of profit taking from the short posistions.. in other words, be prepared to sell rallys but play with a stop to limit losses...

I am and have been extremely good in picking turning points to initiate trades, my stumbling blocks have always been, in being able to recognize the turnarounds, especially later in the trading day..

 

[SSI]

Looking for first selling opportunity, as market has rallied off 1259 low to 1262... i am looking to sell 1264, if we can make it there..

 

[SSI]

ok cannot wait,

trade 3: short 1 emini 1263, stoploss 1270... risk of 7pts or ($350)..

 

[SSI]

market has literally been giving away money since yesterday run to 1277. it has simply been in a "Sell the Rally" pattern.. our short is now worth about $250 in profits in mere minutes..

market rallied to 1263 and fizzled, had to sell the rally..... why 1263, measure from 1259 low ----- back to 1269 high and you get 1264 on the 50% retrace, which also coincided with yesterdays low of 1264.50.. which made it a perfect spot to sell..

well we had to jump in there with "an atm order" (at the market order).. filled at 1263 and immediatly the market dropped..

lots more selling pressure right now and we want to merely ride down with it..

not rocket science at all, could have easily been done..

 

[SSI]

sometimes things happen extremely fast,,,,,,,,,, i am now going to take profits at 1258.......... ill be satisfied for the moment with a $250 (5pts) for a few minutes of my time... about 20 min...

i will now look for next selling opportunity to develop..

this was fast but believe me, it was very doable...

ill wait for a bounce and try to sell...... we will be taking the low, when it makes one and measure from 1264, then simply use a 50% retrace to measure entry..

 

[WorldNumberOne]

what is the site address for " commodity traders forum " ?

i did a search but it brought up a bunch of different names.

thanks .

also , are their any good books or other sites that offer free education on this subject ?

 

[WorldNumberOne]

i think i found it .

 

[SSI]

wno, if you found, notice on left hand side of page (at top).... see the box, intra day quotes,,,,,,,,,, its under market data.............

click on that........ then click on the word INDEX......... then scroll down and find, S & P 500 Emini GBX...... this is what im trading and you can see a 10 min delayed quote.........

market is still in perfect pattern, we rallied off an 1256 low, back to 1260, which was a perfect 50% retrace (from 1264 to 1256) and then we dropped again, making new lows of 1255.....

ive got to step out for a couple of hours, but will be back later.......... there are times, when you get these patterns and im absolutely sure they are free money......... i did not say all the time,,,,,, i said at times........

its 10:30 am cst right now and there has been absolutely no reason to BUY this market for the last 24 hrs...... its been 24 hrs of non-stop "sell the rally" strategy.....

ill report later, and will discuss if we are still in this pattern or if things have changed.......

 

[WorldNumberOne]

i would love to read some books for the beginner in this subject.

do you know of any ?

i am almost to the point of wanting to take a class . if they are available.

i see some of these courses you can buy for 400 bucks on up.. i wonder if they're any good..

 

[WorldNumberOne]

i found a site called " investor flix"

you rent dvd's on all kinds of investing topics .

might help a "know nothing" like me

 

[SSI]

commodity trading for dummies..... really...

also alot of new traders are introduced to this world by a man named "Ken Roberts"..... now in much the same way that we talk about wayne root or jim feist, people talk about Ken Roberts.......... now ken has a course and some material and is a huckster, but he is not a bad intro into this world...

i started with this in the early 90's and have forgotten alot of the beginner things..





on to the trading,,,,,,,, absolutely still pouring money out to the downside.. the market is still begging to be sold on every rally..... they managed to get it back to about 1263 one more time and then have since sold it down to a new daily low of 1254.25........

Longer term traders would be and i am sure they are riding this short down from the upper 1270's.......... the short from 1277 on wednesday morning is now worth $1250 per contract in one day...... and i cant tell you where this one stops..

its sitting at 1255 now and the contract lows are around 1240,,,,,,, this market is acting as if it wants to test those lows........ for now, just sit tight and sell any rally that moves..

 

[SSI]

ok, only a couple of hours of trading left today (thurs)... new lows once again (1252.75).... i would not trade anymore today, the market is due a rally, if for nothing else (profit taking) by the shorts...

Lets look at our chart... here are the numbers that should now go on it...

1340 (contract high)

1290

1283

1277

1270

1267.50

1264

and we will add todays low (whatever it turns out to be)... these were points in the market of significant turns..

1240 (contract lows)

 

[Dawoofdaddy]

Quite a bit of volatility in stock market today.

 

[Hitman26]

High oil is killing pretty much everything. Some experts are saying 4 bucks a gallon in a month.



I really feel bad for the working guy. They don't have much of a chance when so much of their income is going to energy.

 

[SSI]

market traded heavily on mideast turmoil... definately no buyers today...

Israel looking at a 2 front WAR, doesnt look good for the markets or oil prices in the near future............. but the sellers are probably going to make a killing..

 

[SSI]

ill be away until july 24th..

will try and return then..