Breakout Trading using Time and Sales

Mr. Charts · Oct 29, 2009, 11:55am

PS Thanks for mentioning ABB

Very nice trade HGSI

amit1986 · Oct 29, 2009, 12:06pm

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

Mr. Charts · Oct 29, 2009, 12:08pm

Yes, and you watch LNC

Best wishes,
Richard

amit1986 · Oct 29, 2009, 12:21pm

Thank you for that

No entry for me yet. Futures have broken 105500.

Mr. Charts · Oct 29, 2009, 12:31pm

Quote:

Originally Posted by amit1986

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

amit1986 · Oct 29, 2009, 12:41pm

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

oildaytrader · Oct 29, 2009, 12:56pm

Amit

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

O D T

Mr. Charts · Oct 29, 2009, 12:57pm

Thanks for your kind words, Amit,
Richard

Oct 29, 2009, 11:55am	#33
Mr. Charts Legendary Member Member Since Sep 2001 5,950 Posts	Re: Breakout Trading using Time and Sales PS Thanks for mentioning ABB Very nice trade HGSI __________________ Mr. Charts Full time US Share Trader Contributor to T2W's Trading FAQ Book http://www.trade2win.com/books/trading-faqs T2W interview http://www.trade2win.com/knowledge/a...ichard-joyson/

Oct 29, 2009, 12:06pm	#34
amit1986 Legendary Member Member Since May 2009 1,103 Posts	Re: Breakout Trading using Time and Sales 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

Oct 29, 2009, 12:08pm	#35
Mr. Charts Legendary Member Member Since Sep 2001 5,950 Posts	Re: Breakout Trading using Time and Sales Yes, and you watch LNC Best wishes, Richard __________________ Mr. Charts Full time US Share Trader Contributor to T2W's Trading FAQ Book http://www.trade2win.com/books/trading-faqs T2W interview http://www.trade2win.com/knowledge/a...ichard-joyson/

Oct 29, 2009, 12:21pm	#36
amit1986 Legendary Member Member Since May 2009 1,103 Posts	Re: Breakout Trading using Time and Sales Thank you for that No entry for me yet. Futures have broken 105500.

Oct 29, 2009, 12:41pm	#38
amit1986 Legendary Member Member Since May 2009 1,103 Posts	Re: Breakout Trading using Time and Sales 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

Oct 29, 2009, 12:56pm	#39
oildaytrader Banned Member Since Mar 2007 2,820 Posts	Re: Breakout Trading using Time and Sales Amit I must compliment you on posting your trades before they happen.Keep it up O D T

Oct 29, 2009, 12:57pm	#40
Mr. Charts Legendary Member Member Since Sep 2001 5,950 Posts	Re: Breakout Trading using Time and Sales Thanks for your kind words, Amit, Richard __________________ Mr. Charts Full time US Share Trader Contributor to T2W's Trading FAQ Book http://www.trade2win.com/books/trading-faqs T2W interview http://www.trade2win.com/knowledge/a...ichard-joyson/

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