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No Responses to “MortiES' Intraday 29Jun2009”

1. Mortie says:

   June 29, 2009 at 8:28 pm

   Mr Trader ~ the ellipse helps me with patience. Because it is a time and price tool, it helps me to wait for the ellipse to intercept the market. Sometimes when it gets close and I am at a significant reversal level (eg. 62% retrace) I will fade the trade as close to the 62% as I can to minimize my capital exposure. Anyone who has followed any of my trades knows that I only like to risk 2-3 pts. on a trade. FYI, I use a close beyond the ellipse as my signal that it is not holding. Today’s ellipse at 912 was at about the 62% retrace level but the market was falling like a rock. I allowed the market to spear through the ellipse a little and it did hold.

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2. Placebo says:

   June 29, 2009 at 2:22 pm

   Starting to build my short position here ES921.50. I’am still expecting a Wave 5 of 5 up, just positioning for the expected larger Wave C of 4 down.

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3. MrTrader says:

   June 29, 2009 at 1:28 pm

   Thank you for motivating me to learn how to use this very interesting tool!

   

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4. Mortie says:

   June 29, 2009 at 12:45 pm

   InThePink ~ this is my avocation. Read my profile for a little info. I am not only not a CTA, I don’t know what that is. I’m never impressed by anyone’s credentials anyway. I want to know how they perform. When I hire staff, I hire the person, not the experience or credentials. Welcome to BWM! We actually do have people with impressive credentials on this site, and they can perform. We are trying to make this a balanced site and have been growing fairly rapidly. I try to get an EOD chart out every day and will post when I have time if I see something relevant intraday. I try to pass along my experience to others, so they can have an edge when trading.

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