Was on the simulator just to get a feel of market rhythm. Played around 884.5 resistance for around an hour, using just level II. Bracket orders were sent out once entries were filled. Something I couldn't do when I was scalping on IB. Safety net gave me the peace of mind to focus on the tape. For all long entries, I had covered once bids were starting to get snapped up. I did steal glances at my 5-min chart. Needed to see that price has pierced uptrendline, closing strongly above it.So, I'm still very much reliant on the tape. Without it, I can't let profits run. It's a shame that the tape is so difficult to read once the US market opens. Will give it another shot though.
Oh, Emini Player, I got rid of the panic buttons yesterday :-) Thanks for the suggestion!
2 comments:
Jules,
Have you ordered Al Brooks new book?
http://www.buy.com/prod/reading-price-charts-bar-by-bar/q/loc/106/210542858.html
I've read all his stuff along with the online seminar. It's all good stuff. The only thing that bothers me is how much breakout trades get faded before the turn to the plus side.
My wife has ordered this book for me. Looks like a good read.
Yes, Daytrader, I've ordered the book and Amazon claimed they had shipped it and I'll receive it only in JUNE!!! Arggggh!!!
But meanwhile, I've got some really good Brooks material from Cory and Leon to quench my thirst :-)
I heard the online seminar but couldn't really follow him. Had gone over his powerpoint slides again and again instead. :-)
About breakouts - I've never really liked trading them. My favorite play has always been to trade the last part of a move before a breakout and cover there, unless it's a "Trap" setup.
Your wife is so sweet! D does the opposite. He stops me from buying too many books. LOL!
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