3309 Drysdale Ct
Edwardsville, IL 62025
My small account lacks capital for trading individual stocks. I
have not been profitable on the indexes with micro futures. All I
see is a bubble, and I am not comfortable to partake in it with my
money. I have no feel for it. Without that advantage, I do not want
to be wondering who is a fool at the poker table.
I wish everybody on this site a pleasant long holiday
On a personal note, I have decided to take a break from trading
stock indexes. I will not be posting for a while. Profitable
trading to you all!
a golden target, indeed!
Chicago wheat is providing its expected lift-off into the end of
It looks like /NQ is aiming for 14,040-ish target, which will
become a divergent high.
Chicago wheat is also on my radar for today. Energy flows on
15-minute charts were almost at zero, and were not confirming the
move lower. Divergence on RSI on the daily chart is unmistakable. I
am expecting a red to green move today and a positive close for the
Today's drop in gold is a gift in my opinion. My energy
indicator was still negative this morning, so I did not buy
yesterday's pullback. I am watching whether energy flows turn
positive before buying.
With June contract's first notice date on 31st, I do not expect
this dip to last long. I see this as an attempt to rinse weak
long hands without closing the contract at attractive prices to
initiate delivery. The rumor has it that The Fed is stuck short and
is unable to exit its short position. Today's rinse of longs serves
that purpose for them to reduce their short exposure as much as
others are willing to give.
update. Based on the action of /NQ, which is telling the truth,
the after hours move up is a beginning of an impulsive move up
towards 14,040 or a corrective A-B-C to the upside, with a
move lower to follow.
Matt, i remember Chris Moore's tradefloor setup. It was ended
before our accounts could grow significantly though. As I recall
there was regulatory issue that killed that deal. Nowadays, with an
API setup the same automated trading can be done in IB accounts
held in our own name. The risk is, of course, that a whale could
sign up for this service and make it unworkable.
And while we are on the subject of automated trading, could you
add signal feed with trades based on some of your systems, as a
pilot? Format could be something like: Shallow PB1 buy 1 MES price
4125 limit 4130 stop 4100 to OPEN, etc.
vasilboy, I don't disagree with you: this year the market
was one reversion to the mean after another, up and down.
if we wanted to crowdfund your system development, what are
likely individual contributions for a couple of systems what could
bring a steady stream of income? My assumptions are 1. about 100
contributors, 2. a handful of subsystems trading micro futures
contracts (with a $10K account requirement), 3. text notifications,
4. a shared account to monitor trades in real time for those who
want that, 5. a professional trading platform (not Tradestation),
perhaps CGQ or similar. Bare minimum but reliable to ensure
I could do the technical part. Unfortunately, the business side
is not my forte.
Please, kindly let me know. Many thanks in advance!
Matt is the best automated system developer I have met. He is
very talented in this respect, and his potential is largely
Regarding the systems, I am of the opinion that his systems were
developed and backtested for bull markets. During this bear market,
a lot of settings no longer apply which result in missing trades or
stuck trades. What seems to work in this bear market is quick
trades with short duration. A variation of day trades that spans
under one day or a day or two at most. Perhaps, a system based on
30- or 60-minute times would be optimal, and trading is done on
micro futures to ensure entry and exit as needed. Also, micro
futures contracts permit to dispense with the $25,000 requirement
for day trading that limits many small account holders.
Back in 2015, Matt devised an automated system based on
60-minute charts. The idea was good. Perhaps, it could be revised
and reimplemented. I see it as rather viable.
Between 5 and 15 minutes. Those are time frames for intraday
trading. That low could occur on the next day as well.
What else is expected when prices are in the supply zone near a
Demand zones take precedence over gaps, although gaps constitute
demand zones themselves on smaller time frames.
/ES is on the support zone 4100-25. It should hold throughout
the day. I am looking for a divergent low before playing a
update. Breaking 4100 is a warning that a move has topped
arun, according to some market commentators, a short-term
blow-off top has been put. /ES 4100 and possibly 4050 are likely
targets. Pullbacks should be bought. However, with a completed
sequence on both /ES and /NQ, a top might be in, as is the case
with bear-market rallies, however unlikely that is.
It is unfortunate that Demark 13 was not printed yesterday for a
good short today.
I see a key reversal on /NQ for today. This thing may go lower
along with $SPX.
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