Wed 14 May 2008
ES 05-14-2008 (Video)
Posted by ray under Written Plan
I received an e-mail asking, among other things, that I post an example of my analysis process. Here is a general outline. I opted for a video rather than a written example.
http://www.tradingsuccess.com
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May 14th, 2008 at 10:06 am
Hi Ray,Just as a line of thought,i was wondering,given that waves are fractal in nature and the market is poised to hear a fundamental announcement.As an indicator, to help the decision making process, could you note the time of announcement then look for evidence on the smallest time frame co insiding with the announcement. Sort of like Nature of Trends at warp speed. Also During the video you made an interesting comment about volume,do you have any views on open interest at all? Cheers Baz
May 14th, 2008 at 10:30 am
Thanks for the timely analysis, Shi-fu.
From the scenarios you have painted, I am glad that I exited my ES this afternoon with a 12 points gain.
After the CPI tonight, I will look to assess and re-enter if the market goes my way.
May 14th, 2008 at 10:48 am
Hi Baz
Yes you are right. Any shift in sentiment would take place in the lowest time frame.
But we need to find a lower time frame that will follow through to our trader’s time frame. For example: I hold overnight positions. So, it is likely that many a tic move (smallest time frame)will expire before the end of the day.
I use Market Profile so I am using 30 minutes as a context and the entry time frame is 15 minute bars.
I don’t use OI.
May 14th, 2008 at 10:49 am
Great Ana! Seems you are trading well!
May 15th, 2008 at 6:41 am
Ray, thank you for making that video. I enjoyed it very much and benefited greatly from hearing you though process “live”, as opposed to “discussed”.
Regards.
May 15th, 2008 at 8:16 am
Hi Jeff
You are welcome. By the way, I sent you an e-mail.