Dec 062010

ES is set to open within yesterday’s range, in between yesterday (friday’s) close & VPOC.

I started to draw arrows but there were so many it was hard to read.

If we have an open drive then I will look to enter on a pullback to a level.

If we have an open auction I’ll be looking to fade the nearby levels.  The CLVN & yday LVN at 21.50 is a good candidate.  Above that I have a resistance level at 24.25 and then CLVN 25.50 and then yday high.

Below CLVN at 1216.75 and then yday low 1213 and some CLVN below.

This is my usual plan, fade extremes unless OTF present in which case trade with them.  The tricky part is when there is a mix.  Like OTF drives up and pulls back but then doesn’t continue.  Or we rotate up and I go to fade and then we get a breakout.  If that happens I’ll stop out and re-asses.  Looking for probabilities and R:R to keep me positive.

I’ve been simming all markets today with good results.  If this continues I’ll be taking more of these with real money.

But for today I only trade ES with real money.  Didn’t take any real money bund trades this morning so looking for one good trade today near the open.  Today is a short day for me, on Monday’s I only trade the first 45minutes.

Good luck!

  4 Responses to “ES Trade Ideas for Dec 6 2010”

  1. ill be watching that 1216 area too. I imagine we remain above 1211 though. good post thanks!

  2. Aaaah.. no arrows!

    Just kidding…:)

    Ragarding your question on other chart, yes, I find this very well organised. I can’t comment on performance, as I don’t have IRT yet (will purchase it next year) But I am pretty sure that I would also like to be able to see the composite and intraday levels in one chart. For now, I am using FT’s composite as my desktop backgound and using TOS as primary charting but find myself switching all the time, which is really not optimal.

    Just curious, how much RAM do you have, and what processor?

  3. I still have a daily with composite for the big picture but I like all levels on one chart. I’d like to have as many charts as possible per market so that I can watch several markets.

    I have a quad-core w/ 8gigs ram running Windows 7 64-bit. My PC is very fast. Unfortunately IRT/MD is not multi-threaded and doesn’t use the extra CPUs. One indicator calculation can block the entire app. I hope they can improve that in the future.

  4. Thank you!

    I have basically the same setup, a 2.6 Mhz quadcore with 8 gigs of RAM running on Windows 7 64-bit, so yes, I know how fast your PC is 🙂 I am little surpirised to hear that IRT is not multithreaded but I would think that this will change in the future…they are unbelievely responsive from what I have seen so far so hopefully they will adress this too.

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