Trading the E-mini

DionysusToast said:
Rollover today, will not do pre-market prep today and tomorrow.

I will be looking for opportunities for shorter term trades today and then tomorrow will be watching to see how people trade around the 'new' levels in the market.

Certainly, I wont be looking at today to be setting decent levels for tomorrow.
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What you mean by rollover today ?
 
tar said:
What you mean by rollover today ?
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People start to rollover their positions from the Mar '13 contract to the Jun '13 contract. This is 8 days before the current contract expiration.

Waiting for a sign of sellers coming in on the high before jumping in. Nothing yet.
 
robster970 said:
People start to rollover their positions from the Mar '13 contract to the Jun '13 contract. This is 8 days before the current contract expiration.

Waiting for a sign of sellers coming in on the high before jumping in. Nothing yet.
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I know that but not necessarily today ....
 
3.75 range so far and not moved off the initial balance.......this is pre-NFP market action at it's finest.
 
Only trade today was a loser - thought the defended level at 44.75 would go - seemed it wanted a sell-off before it tried again. Missed the re-entry opportunity - need to eat sometimes.

16:59:31 CME B 154400 ES Mar13
19:06:51 CME S 154200 ES Mar13

Payrolls tomorrow. US banking info at 21:30 - something tells me that it's all going to be fine.
 
Prep#1 - 8/3/13

Not surprisingly it has been quiet overnight as we move into Payrolls today. What I notice during payrolls week is how most of the positioning is done early in the week leaving We/Thu relatively quiet. If you are of a disposition to just take little scalps off ES, it does tend to mean revert in a small range so getting in at range extremities is probably not a bad strat for these two days of the month if you are of that disposition.

Anyway, what I am interested in which makes today's number more meaningful is the volume traded in a 7pt range and the 18pt air gap that exists between this value area and the one below. A few people are sat on some fairly big bets going into today. If you are long up here and the number prints below general expectation, price will move very rapidly back across this air gap simply because no volume has traded in this space - available liquidity is thin. It could make for a very explosive day today and where there is volatility, there is money to be made.
 

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Happy finish to the week.

14:33:22 CME S 155050 ES Mar13
14:50:42 CME B 154550 ES Mar13

Explanation of the trade in the pic - T&S filtered >30 lots mainly red, coming in waves, nice sell flow coming through. Decided to take a good short term move off the table rather than run for a bigger sell-off back to value which I think is imminent but maybe not today.

Have a good weekend lads.
 

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Prep #1 - 11/3/13

Friday was an interesting day. A good print on NFP but not a voluminous day. In hindsight I should have gone long around the NVPOC at 1543.50 for the ride back to the IB high but c'est la vie. That aside, a couple of things I have noticed this morning:

a. On the daily you can see it clearly trending up but you can also see the volume dropping off quite sharply. This might be exacerbated now by the rollover but I don't think Jun '13 contract traded that heavily on Friday if you try and pull out the volumes associated with spreading. Are we seeing this move run out steam yet?

b. It made a new high in the NFP noise but struggled to get to this during main RTH session.

So bias going into today is still long but am looking for signs of a strong rejection coming from a new high now as I anticipate sellers taking control. I also anticipate a test downwards to find value and a re-test of the high before anything rolls over with any gusto.

Areas in play today:

1551/53 (High)
1542/43 (Rejection on hourly from Friday)
1536/37 (Support for current value area)

Feels like it will be a slow day today already.
 
I may have asked this before but...do you come mainly from the Dalton market profile side, with your own take of course, or do you also consider Wyckoff concepts?
 
Shakone said:
I may have asked this before but...do you come mainly from the Dalton market profile side, with your own take of course, or do you also consider Wyckoff concepts?
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I am from the Dalton world and then put a load of home-brew on top of it :)
 
Don't forget - US moved to DST on Sunday so they are 1hr ahead now in relation to Europe which will correct itself on 31st March. For us Europeans, US session starts at 1.30pm instead of 2.30pm for 2 weeks now.
 
robster970 said:
Don't forget - US moved to DST on Sunday so they are 1hr ahead now in relation to Europe which will correct itself on 31st March. For us Europeans, US session starts at 1.30pm instead of 2.30pm for 2 weeks now.
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Thanks for the heads up !

Its clear that we will have some sort of a pullback within this week , i am long VIX Mar calls from Friday looking for a quick scalp .
 
11th March, 2014

New high for ’06 contract is 1547.75 on Friday

Last weeks range 1507 –> 1547.75
Fridays Range 1535.25 (globex low)/1537 -> 1547.75 (globex high)/1547
Fridays Value 1540 -> 1544.
Overnight Range 1540 .50 –> 1545.25

Overnight is short but volume is pretty light.

Next Line in the sand below is 1530-32.50, break that to the downside & we could go back into the range to 1480. Today just a matter of seeing if it breaks out of Fridays area or stays inside it.

Not much more to say for me, I don't see much on to be honest.
 
OK - so I recorded my first trade today and to be honest, messed around so long editing the video I didn't take any more anyway....

I had forgotten what a complete pain in the ass editing videos was....

Went short pretty much off the open, hoping for a move down which started but soon died out.

00:00 – Trade Entry (narrated)
03:15 – Target 1 gets hit (silent)
07:40 – Bidders step up in our way. (narrated)
11:44 – Target 2 gets hit. (narrated)
15:51 – Bidders step up again against us. (narrated)
20:02 – Working an exit at break even – not a stop loss order though (narrated)

For best viewing – select Full Screen & Full HD in the menu at the bottom of the video.

11-Mar-2013 Short ES - YouTube
 
6:07 - "You making tea?" :)

Just off the action and the fact it got stuck at 1pt, I would probably have bailed at that point.

8:10 - "I wouldn't stay in if this wasn't a postion trade" - LOL my suspicions confirmed...

12:49 - "Come on!"

I tell you what Pedro - you have some b@lls holding out for 2pts

As I saw it drop to about 800 or so I shouted "Get out now" and you did.....

We trade in a very, very similar way Pedro except you scale out and I don't......
 
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