E-Mini SP 500

This is a discussion on E-Mini SP 500 within the Futures & Options forums, part of the Markets category; I just placed it on my chart. If it were to touch it, on 5 min chart it would be ...

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Old Sep 26, 2007, 4:52pm   #31
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I just placed it on my chart. If it were to touch it, on 5 min chart it would be around 1536. Therefore, can I presume that this is the most likely placewhere ES will land evntually?
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Old Sep 26, 2007, 4:58pm   #32
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I just placed it on my chart. If it were to touch it, on 5 min chart it would be around 1536. Therefore, can I presume that this is the most likely placewhere ES will land evntually?
on my chart its at 37.2, based on which vendors you use and quote banks, the red ma can be variable at price points and crossing intimations. The red ma doesn't imply anything, price doesn't ever have to touch it in this current session.

Plus the MA moves as time progresses.
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Old Sep 26, 2007, 5:04pm   #33
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price likes to test that RED MA, if the MM's hold it up here, then the RED MA, moves higher and higher as time passes.

Whay is MM?
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Old Sep 26, 2007, 5:05pm   #34
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on my chart its at 37.2, based on which vendors you use and quote banks, the red ma can be variable at price points and crossing intimations. The red ma doesn't imply anything, price doesn't ever have to touch it in this current session.

Plus the MA moves as time progresses.

So what is the purpose of having it?
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Old Sep 26, 2007, 5:06pm   #35
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Whay is MM?
market makers, money managers.
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Old Sep 26, 2007, 5:08pm   #36
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So what is the purpose of having it?
its just another measure of how price is behaving, the overall direction gives gross trends in the market, it can be used as a smoothing tool. Plus when price approaches support or resistance, a shorter period MA will cross the longer period MA. The mind doesn't like to accept situations especially in trading. And indicators can be used as a another measure to justify adjusting R:R(risk:reward/stoploss:takeprofit).
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Old Sep 26, 2007, 5:10pm   #37
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on my chart its at 37.2, based on which vendors you use and quote banks, the red ma can be variable at price points and crossing intimations. The red ma doesn't imply anything, price doesn't ever have to touch it in this current session.

Plus the MA moves as time progresses.
37.2 hit.
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Old Sep 26, 2007, 5:12pm   #38
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Bulls eye! But I think it has moe steam to go lower. At least another point -guessing here.
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Old Sep 26, 2007, 5:15pm   #39
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I did not know you reside in Virgin Islands. Must be comfy and pretty.
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Old Sep 26, 2007, 5:17pm   #40
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I did not know you reside in Virgin Islands. Must be comfy and pretty.
islands are heaven on earth.
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Old Sep 26, 2007, 5:21pm   #41
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Xymox started this thread http://www.aprivateisland.com/

this guys made millions in the cellphone industry bought this island off the coast of Belize, and made into a small ultra exclusive getaway.
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Old Sep 26, 2007, 5:23pm   #42
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I shorted the ES at 1538.75. Would you have done the same? and if not then why not? and when would you have sho it if at all?
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Old Sep 26, 2007, 5:24pm   #43
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http://www.aprivateisland.com/

this guys made millions in the cellphone industry bought this island off the coast of Belize, and made into a small ultra exclusive getaway.

I have been to Belize. Not to that place though
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Old Sep 26, 2007, 5:30pm   #44
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I shorted the ES at 1538.75. Would you have done the same? and if not then why not? and when would you have sho it if at all?
over the years you tend to look for the easy trades, the ability to see when money is on the ground waiting to be picked up, comes with time.

the small scalping trades become a headache. If I truely scalped, I can hit a W:L ratio of 80-90% in any market. But its extremely taxing on the system and wears you out.

its possible to obtain the same results with swing trading, its just a matter of adjusting amount of target and stop loss, which generally become wider.

as for the trade, no I would not have placed it, its working off a spring from 1520, upper end of channel is 1550, lower end 1490, but actually higher when you look at the daily chart since there is a inverse head n shoulders, that spring is dangerous since the market can gap up and break highs and never look back.

I look at:

1) 60 minute trend
2) overall direction of MA's
3) MA's crosses and violations
4) whether price is above or below open
5) whether price is above or below yesterdays high or low
6) whether price is above weekly high or low

its all a matter of increasing probability for you in terms of the trade, high probability trades, are usully contagion heuristic based. Contagion heuristic is a fear/greed trade as it enfolds. Most are too shocked at what the market is doing to take advantage of it, if they are not in the market at the moment.

Last edited by Xymox; Sep 26, 2007 at 5:35pm.
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Old Sep 26, 2007, 5:33pm   #45
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Xymox started this thread if your scalping it entails smaller stoploss and target points. Those small increments can be within the noise of price action and by just pure random price movement can be hit. It also means your using much more size to compensate for the small target points.

it can be dangerous situation if mentally your not there. Sometimes a price stop can turn into a time stop and a time stop into no stop at all.
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