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I'm on mountain time - my primary trading is 730-1030 and 1200-130. Unless I
have a very clear picture of things at the open e.g. price is smack against
strong support or resistance, I will often watch the market for the first
half hour. I also begin watching for a move around 1130 when the pit may
start a move in the hope of clearing stops, however those moves can keep
going on occasion. Finally, from 130 on I am generally looking to close out
anything I have open unless I want to carry. I also occasionally enter
trades 60-30 minutes ahead of the open - again when primary support or
resistance is nearby, that s/r has been well tested during Globex, and I can
place a close-in stop just outside primary s/r. 1030-1130 is always time
off. Another thing I like to do is to write down a planned trade, set price
alarms on the rough setup, then go read the paper until the alarm goes off
... these are often my best trades.
Earl
----- Original Message -----
From: "Brian Keith Voiles" <admagic@xxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, July 28, 2001 12:53 PM
Subject: Re: [RT] Fri aftn
> Howard,
> Would you mind taking just a few minutes to help me understand exactly
> what you're saying:
>
> At 12:07 PM 7/28/2001, you wrote:
> >RT's;
> >
> >I think time of day is one of the most critical elements of finding good
> >trades in the SPoo's. The liquidity is there in the first hour and 1/2
and
>
> So... you're saying trade from: 7:30 a.m. to 9:00 a.m. MST? Then take
> a break.
>
> >ususally the pit starts filling in again around 2 to 2:30 est.
>
> Then trade from 11:00 or 11:30 a.m. MST... but til when? Close?
>
> >I used to sit there ALL day watching the market. I felt I MUST put in a
> >"full" day. An very successful experienced trader pointed out the
problem
> >with this compulsion... boredom (leading to initiating trades that
shouldn't
> >be taken for the reason of "If I'm sitting here I should be trading")
> >burnout (reducing concentration levels during times of day when you
should
> >be most focused), and frustration (caused by watching random
moves/trends
> >that you miss but don't fit your trade criteria to begin with).
>
> Excellent advice... but I'd like more clarity about WHEN you trade the
Spoos.
>
> >I also believe that Market Profile helps in identifying the type of day
from
> >the opening tick through watching the development of value areas and
daily
> >range.
>
> What is "Market Profile" and where can I learn to use it?
>
> >Howard
>
> For what it's worth, I've attached a Word 97 document that contains jpegs
> of an article that recently ran in active trader magazine. It's called
> "Putting
> Time On Your Side". I found it more confusing than helpful. He divides
the
> day into "red zones", "yellow zones", and "green zones".... which works
> for me... but then he divides them all into 14 different zones, all spread
> throughout the day.
>
> Anyway... I want to thank you again for telling me about Patrick Spears.
> I've had a very, very positive experience with his brokerage firm since I
> switched to them.
>
> I am extremely grateful to you for hooking me up with such a great broker!
> I love it!
>
> Warmly,
> Brian Keith Voiles
>
>
>
> > >From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
> > >Reply-To: realtraders@xxxxxxxxxxxxxxx
> > >To: <realtraders@xxxxxxxxxxxxxxx>
> > >Subject: Re: [RT] Fri aftn
> > >Date: Fri, 27 Jul 2001 14:21:04 -0500
> > >
> > >Thanks Earl
> > >
> > >That's a good one, reminds me of when I was learning to fish
commercially,
> > >something I did by buying a fishing boat and discovering all the
mistakes
> > >it's possible to make in the world's oldest profession. It was a matter
of
> > >years before I discovered the mechanism by which I could drive around
and
> > >avoid the schools of fish. Now that I know what to look for it is
easier to
> > >find them.
> > >
> > >I am pretty good at avoiding good trades in the same way; I trust my
> > >"dogged
> > >perserverence" will eventually train me to troll into the good ones,
which
> > >phrase was triggered by your barking dog.
> > >
> > >
> > >
> > >
> > >----- Original Message -----
> > >From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > >To: <realtraders@xxxxxxxxxxxxxxx>
> > >Sent: Friday, July 27, 2001 14:07
> > >Subject: Re: [RT] Fri aftn
> > >
> > >
> > > > My comment brought something else to mind which might be worth
sharing.
> > >When
> > > > I have my data feed running and I'm sitting there watching it, my
> > >instincts
> > > > are akin to a beagle ... if something moves it's time to bark and
hunt.
> > >I
> > > > refer to it in my trading notes as "Barking Dog" syndrome and is the
> > >number
> > > > 1 item in my list of losing habits. I find that aside from self
control,
> > >not
> > > > watching the market when it's wandering is a good cure.
> > > >
> > > > Earl
> > > >
> > > > ----- Original Message -----
> > > > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > > > To: "Realtraders" <realtraders@xxxxxxxxxxxxxxx>
> > > > Sent: Friday, July 27, 2001 1:00 PM
> > > > Subject: Re: [RT] Fri aftn
> > > >
> > > >
> > > > > The trading day was likely over on the failed weak attempt to
punch
> > > > through
> > > > > overhead resistance and reach 1221. I shut down my feed rather
than be
> > > > > tempted by some false breakout from the chop .... market will
still be
> > > > there
> > > > > Monday.
> > > > >
> > > > > Earl
> > > > >
> > > > > ----- Original Message -----
> > > > > From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
> > > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > > Sent: Friday, July 27, 2001 12:50 PM
> > > > > Subject: [RT] Fri aftn
> > > > >
> > > > >
> > > > > > I'm not much of a tape reader, but I am getting the impression
that
> > > > there
> > > > > > are lots of people wishing the bell would ring right now.
> > > > > >
> > > > > >
> > > > > >
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> > > > >
> > > > >
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