BPA trading room discussion: April 14, 2015 Discipline—While discussing trading opportunities in a tight trading range, Al talked about how trading just for the fun of it will get you fired — if you worked for Goldman Sachs! If you are your own boss, you will simply exhaust your account balance.Audio duration: 2min 11sec — […]
Emini weekend update: April 18, 2015:
ioi candlestick pattern on the monthly chart
Monthly S&P500 Emini candle chart: Overbought with an ioi sell signal bar The monthly Emini candle chart is in a strong bull trend, but it is climactic. If the ioi candlestick pattern remains as it is now, it will be a sell signal for next month. The monthly S&P500 Emini candle chart continues in a […]
Intraday market update, April 17, 2015:
Day trading strategies for a wedge top
Posted 6:45 a.m. The Emini sold off strongly on the open and is always in short, but the first 2 bars were dojis and the 3rd bar was a sell climax. The Emini is far from its moving average. This is probably an early sell climax and it will probably lead to a trading range […]
Intraday market update, April 16, 2015:
Candlestick pattern is a triangle on the daily chart
Posted 6:47 a.m. Although the Emini S&P500 futures gapped down today and the high probability trading strategy over the next few days is to look to sell for a test down after the 60 minute wedge top, the Emini opened with big dojis at support (the 60 minute moving average). This is a trading range […]
Intraday market update, April 15, 2015:
Trading price action in a triangle
I will post around 6:45 a.m. Yesterday ended always in long, and today began with a rally, but the bull trend bars were not big and there is resistance at the March FOMC meeting high and at last week’s high, both around the round number of 2100. This increases the chances that the rally will […]
Intraday market update, April 14, 2015:
Triangle top or a pullback from a bull breakout
Posted 7:00 a.m. The bulls had a strong first bar of the day, but it formed a double top with a lower high at the end of yesterday. Although the Emini fell to a new low of the day, nothing has changed from what I wrote earlier today. The odds still favor a 2 hour […]
Intraday market update, April 13, 2015:
Swing trading a pullback
Posted 6:58 a.m. The Emini began with a strong breakout above yesterday’s 4 hour trading range, but it paused at the top of the breakout from the March FOMC report and at a leg 1 = leg 2 measured move target. When a bull trend has exceptional strength late in a trend where the pullbacks […]
Emini weekend update: April 11, 2015:
Bull trend breakout
Monthly S&P500 Emini candle chart: Small pullback bull trend The monthly Emini candle chart is overbought, but in a small pullback bull trend, which is the strongest type of bull trend. The monthly S&P500 Emini candle chart has an ioi sell setup in a buy climax, but it has not triggered the short. There is […]
Intraday market update, April 10, 2015:
Breakout above the double top
Posted 6:54 a.m. Yesterday ended with a 10 bar tight trading range and today opened with more trading range bars. Although the Emini is always in long and the rally was in a tight channel, the rally contained consecutive buy climaxes. This will tend to limit the upside over the first hour or two. Bulls […]
Ask Al: How long before consistently profitable?
BPA trading room Q&A: February 11, 2015 How long did it take you to become consistently profitable after you started trading?Audio duration: 5min 28sec — Scroll down for images Audio transcript I lost money for probably 10 years, and my problem was – it wasn’t that I was not smart enough; it was probably that […]
