Joey's MP Journal

This is a discussion on Joey's MP Journal within the Trading Journals forums, part of the Reception category; Originally Posted by Joey25 Hi Garry, I've been following your notes and the Point Of Control seems to often correspond ...

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Old Jul 10, 2008, 9:46am   #33
 
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Quote:
Originally Posted by Joey25 View Post
Hi Garry,

I've been following your notes and the Point Of Control seems to often correspond to a classical pivot point.

Sadly, yes limit orders for both entries, missed the high of the day by 2 ticks.

Suffering a bit from paralysis from analysis at the moment and my methods make me look like a chimp if there's no retracement!

I like your stuff and I'm thinking of switching to Tradestation. Did the software manage the entire trade through to completion for you?

Cheers,
Joey
to be honest i usually use the infinity price matrix/ladder for my trades, i find it much more user friendly, but i prefer TS charts ....
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Old Jul 10, 2008, 9:52am   #34
 
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My Trading Network

I wouldn't recommend this to a newbie as it's important to understand how PPs are calculated and important to learn by hand.
but since you obviously do know what you're doing: check out this site, they cut out all the hard work and provide daily updates on POC, PPs etc
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Old Jul 10, 2008, 9:56am   #35
 
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Originally Posted by Joey25 View Post
Point Of Control seems to often correspond to a classical pivot point.
yep, Mondays POC corresponded almost with the daily R1
Tuesday's with PP & yesterdays with S1

now that would be very significant if only POC remained a relative constant ...
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Old Jul 10, 2008, 10:28am   #36
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Joey25 started this thread
Quote:
Originally Posted by rathcoole_exile View Post
yep, Mondays POC corresponded almost with the daily R1
Tuesday's with PP & yesterdays with S1

now that would be very significant if only POC remained a relative constant ...
Possibly merge the last 5-days profiles? The trouble is I'm stumped on what to do with the overnight session TPOs.
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Old Jul 10, 2008, 11:36am   #37
Joined Mar 2005
EPU8 Value Area for use 10th July

Joey25 started this thread Value Area High = 1278.75

Point of Control = 1273.25

Value Area Low = 1262.00
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File Type: xls 9th July.xls (49.5 KB, 112 views)
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Old Jul 10, 2008, 1:53pm   #38
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Potential setup for Archive: "New Beginning"

Joey25 started this thread I probably won't trade until at least 9.05am Chicago time today, probably later, because Bernanke is speaking.

Therefore I want to archive this setup in case the trade occurs in the meantime.

The trade is: Sell at 1267.25, with a stop at 1271.00 and a target trailing stop,

I like this because I believe this is what Steidlmayer refers to as a "New Beginning".
It is where price breaks out of balance, usually from the mean, and a long low volume area occurs before development occurs again.
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Old Jul 10, 2008, 2:02pm   #39
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Today's "Big Picture" Trade

Joey25 started this thread There is an intersection between yesterday's Point of Control and the big trendline again today.

The trade is: Sell at 1272.50, with a stop at 1276.25, target trailing stop.
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Old Jul 10, 2008, 3:08pm   #40
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Potential Scalp

Joey25 started this thread Sell at 1257.25
Stop at 1260.00
Tgt at 1254.75

I'm viewing the overnight highs as a failed auction into yesterday's single prints. Also, the entry level is near the top of a 7.30am data spike and is in the region of the 24hr Pivot Point (HLC/3). Protective stop is above the overnight high.
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