Apr 102012
 

Today I released the newest version of my signals (V2b) along with a Ninjatrader indicator to plot them real time.  V2b is designed to give more signals and the real time indicator allows the user to filter them based on the strength.  The indicator also color codes them, shows a histogram of the strength, and has audio alerts.  Everything worked well today.

Historically I do not do well on trend days.  I hate to buy the highs and sell the lows.  So I’m quite pleased that I ended up with 3 pts (2 of which were in Globex), which is not bad for trading 1 lot.  I have been very patient and waiting until everything lines up to take a trade.  I feel I need to be a little more aggressive and I will with time.

The short at 78 was good except for one major detail:  We had an OTD open type and I don’t fade open drives.  So I missed the short.  After that, I was looking for a pullback to 74.50.  The market stopped at 73.50 which was OSL.  It made a double top.  I should have entered 1 contract there and took 2 pts risk but I didn’t, much to my regret.  As I said, I’ve been very patient.. a little too patient.

After that it was obvious the trend was down.  The buy signals weren’t working, sell signals were capping the pullbacks, the S&P A/D line was below -300, and my overall bias was slightly bearish.  So that meant longs were not possible until we saw some bottoming behavior which I did see just short of the open gap at 51.75.  I took a long but time was running out and I didn’t want to hold into cash close so I exited with 1 pt.  I shouldn’t do that, I know, but I was a bit nervous.  I could have gotten 3 pts on that one but it never would have hit my target which was 4 pts.

So I escaped a trend day unscathed but I do wish I had been more aggressive and shorted the bounces.

 

The real time Ninja indicator is available for subscribers (more info here).  Initial feedback is positive.  For a week and a half of our upcoming vacation we’ll be visiting family in Arizona.  So if I can get myself up early, I’ll be able to trade the first couple hours.  I plan to trade using just eminiplayer zones and signals and use it as an experiment on trading with a minimalist approach.  I’ll probably have the A/D line in the background but I’ll be focused on taking the signals at the zones and not letting my intuition talk me out of trades.  I’ve found the more things you have on your screen, the more reasons you can find to avoid or get out of a winning trade.

 

 

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