Breakout Trading using Time and Sales

This is a discussion on Breakout Trading using Time and Sales within the Trading Journals forums, part of the Reception category; PS Thanks for mentioning ABB Very nice trade HGSI...

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Old Oct 29, 2009, 4:55pm   #33
 
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PS Thanks for mentioning ABB

Very nice trade HGSI
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Old Oct 29, 2009, 5:06pm   #34
 
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amit1986 started this thread Hi Mr. Charts,

I did see strong buying pressure on the Time and Sales on ABB around the 19.48 - 19.49 area, however, I made the decision to enter the trade upon the break of the 105500 price level of the NYSE E-mini futures as well. I guess, in a way, I was not planning to scalp ABB, but was looking to hold it for a while, so that is why I did not take the entry. Momentum was strong around your entry point, however, it died around your exit. As momentum died around your exit, futures also turned around. The only difference is you were able to quickly take advantage of it, while I didn't.

NYSE E-Mini futures on their way back up now. I'm sure you have it on your watch list, but check out XOM, it might present a good move as the futures break that area.

Amit
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Old Oct 29, 2009, 5:08pm   #35
 
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Yes, and you watch LNC
Best wishes,
Richard
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Old Oct 29, 2009, 5:21pm   #36
 
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amit1986 started this thread Thank you for that

No entry for me yet. Futures have broken 105500.
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Old Oct 29, 2009, 5:31pm   #37
 
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Quote:
Originally Posted by amit1986 View Post
Thank you for that

No entry for me yet. Futures have broken 105500.
You're very welcome
I took a 17c bite out of LNC.
Someone has sent me an email basically calling me a liar about trading ABB and saying I'm raining on your parade.
In case anybody else thinks that I'm showing a screen shot of my broker window as a one off as I really don't have to prove anything to anybody, but maybe he has a point about this being your journal and so I won't post here again. Sorry.
Good trading to you, amit.
Best wishes,
Richard
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Old Oct 29, 2009, 5:41pm   #38
 
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amit1986 started this thread Mr. Joyson,

Congrats on the LNC trade. I can probably figure out where you took your entry and exited. I guess I was too slow to enter. But hey, your experience speaks for itself.

As for the email you received, please do ignore that type of rubbish. I completely believe your trades and you are NOT "raining on my parade". In fact, I very much welcome your comments, suggestions and opinion on my journal. So please do continue to post here when you feel like and ignore others who say stuff like that.

Amit
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Thanks! The following members like this post: Mr. Charts
Old Oct 29, 2009, 5:56pm   #39
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Amit

I must compliment you on posting your trades before they happen.Keep it up

O D T
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Old Oct 29, 2009, 5:57pm   #40
 
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Thanks for your kind words, Amit,
Richard
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