TraderSmarts Numbers for the YM - Thursday December 30, 2010

Support becomes resistance and vice versa...

11616, 11578, 11553, 11538 Resistance for the YM Emini Futures

11512, 11481, 11464, 11439, 11408, 11393, 11375, 11353, 11320, 11298, 11252, 11231, 11209 Supports

Trade smart and trade well!

YM: Extreme: 11578 -11570 highest odds short FTU. 11231 - 11209 highest odds long FTD.  11298 another spot to consider long. Price finally touched the 11538. I am starting to look for an intermediate top to be in - I think about 11700 MAX before we see some type of correction. A quick 500 point drop down to 11100 or so would not surprise me.

Range: 11553 highest odds short FTU 11481 highest odds long FTD. 11512 aggressive long.

TraderSmarts Numbers for the YM Emini Futures - Wednesday December 29, 2010

Support becomes resistance and vice versa...

11538, 11553, 11578, 11616 Resistance on the YM Emini Futures

11512, 11481, 11464, 11439, 11408, 11393, 11375, 11298, 11252, 11231, 11209 Supports

Trade smart and trade well!

YM: Extreme: 11578 - 11553 highest odds short FTU. 11321 - 11209 highest odds long FTD. 11298 another spot to consider long. Price finally touched the 11538 (hit 11537) on Tuesday. I am starting to look for an intermedite top to be in - I think about 11700 MAX before we see some type of correction. A quick 500 point drop down to 11100 or so would not surprise me.

Range: 11553 highest odds short FTU. 11439 highest odds long FTD. 11481 aggressive long.

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TraderSmarts Numbers for the YM Emini Futures - Tuesday December 28, 2010

Support becomes resistance and vice versa...

11516, 11538, 11543, 11578, 11616 Resistance on the YM Emini Futures

11481, 11464, 11439, 11408, 11393, 11375, 11353, 11320, 11298, 11252, 11231, 11209 Supports

Trade smart and trade well!

YM: Extreme: 11578 -11553 highest odds short FTU. 11231 - 11209 highest odds long FTD. 11298 another spot to consider long. 11393 is the immediate line in the sand. Over and holding and expecting to test 11538 from here. (We are obviously holding over the 11393 from last week and I am still expecting 11538 - 11553 minimum to hit on YM)

Range: 11553 highest odds short FTU 11408 highest odds long FTD. 11439 aggressive long.

www.tradersmarts.net

TraderSmarts Numbers for the YM Emini Futures - Monday December 27, 2010

Support becomes resistance and vice versa...

11516, 11538, 11553, 11578, 11616 Resistance on the YM Emini Futures

11481, 11464, 11439, 11408, 11393, 11375, 11353, 11320, 11298, 11252, 11231, 11209 Supports

Trade smart and trade well!

YM: Extreme: 11578 -11553 highest odds short FTU. 11231 - 11209 highest odds long FTD. 11298 another spot to consider long. 11393 is the immediate line in the sand. Over and holding and expecting to test 11538 from here.

Range: 11512 highest odds short FTU 11439 highest odds long FTD.

www.tradersmarts.net

TraderSmarts Numbers for the YM Emini Futures - Thursday December 23, 2010

Support becomes resistance and vice versa...

11512. 11538, 11578, 11616 Resistance on the YM Emini Futures

11481, 11464, 11439, 11408, 11393, 11375, 11353, 11320, 11298, 11252, 11231, 11209 Supports

Trade smart and trade well!

YM: Extreme: 11578 - 11538 highest odds short FTU. 11231 - 11209 highest odds long FTD. 11298 another spot to consider long. 11393 is the immediate line in the sand. Over and holding and expecting to test 11538 from here.

Range: 11538 highest odds short FTU. 11512 aggressive short. 11439 highest odds long FTD.

http://www.tradersmarts.net/

TraderSmarts Numbers for the YM - Wednesday December 22, 2010

Support becomes resistance and vice versa...

11464. 11483, 11512, 11538, 11578, 11616 Resistance on the YM Emini Futures

11439, 11408, 11393, 11375, 11353, 11320, 11298, 11252, 11231, 11209 Supports

Trade smart and trade well!

YM: Extreme: 11578 - 11538 highest odds short FTU. 11231 - 11209 highest odds long FTD. 11298 another spot to consider long. 11393 is the immediate line in the sand. Over and holding and expecting to test 11538 from here.

Range: 11483 highest odds short FTU. 11408 highest odds long FTD. 11439 aggressive long.

TraderSmarts Numbers for the YM Emini Futures - Tuesday December 21, 2010

Support becomes resistance and vice versa...

11476, 11512, 11538, 11578, 11616 Resistance on the YM Emini Futures

11439, 11408, 11393, 11375, 11353, 11320, 11298, 11252, 11231, 11209 Supports

Trade smart and trade well!

The contract notes have been reflecting an expected increase in volatility that has not come yet. For today I will include a Range and Extreme for the contract notes for YM and ES. Make sense?

YM: Extreme: 11578 - 11538 highest odds short FTU. 11231 - 11209 highest odds long FTD.  11298 another spot to consider long. 11393 is the immediate line in the sand. Over and holding and expecting to test 11538 from here. Range: 11476 highest odds short FTU. 11375 highest odds long FTD. 11410 aggressive long.

TraderSmarts Numbers for the YM Emini Futures - Monday December 20, 2010

Support becomes resistance and vice versa...

11416, 11439, 11460, 11505, 11538, 11578

11393, 11375, 11353, 11320, 11298, 11252, 11231, 11209 Supports

Trade smart and trade well!

YM: 11578 - 11538 highest odds short FTU. 11416 aggressive short. 11231 - 11209 highest odds long FTD.  11298 another spot to consider long. 11375 aggressive long. 11393 is the immediate line in the sand. Over and holding and expecting to test 11538 from here. 

TraderSmarts Numbers for the YM Emini Futures - Friday December 17, 2010

Support becomes resistance and vice versa...

11442, 11460, 11505, 11538, 10578 Resistance on the YM Emini Futures

11424, 11392, 11375, 11353, 11320, 11298, 11252, 11231, 11209 Supports

Trade smart and trade well!

YM: 11578 - 11538 highest odds short FTU. 11231 - 11209 highest odds long FTD. 11375 aggressive long. 11392 is the immediate line in the sand. Over and holding and expecting to test 11538 from here.

TraderSmarts Numbers for the YM Emini Futures - Thursday December 16, 2010

Support becomes resistance and vice versa...

11424, 11460, 11505, 11538, 11578 Resistance on the YM Emini Futures

11392, 11353, 11320, 11298, 11252, 11231, 11209, 11189, 11161, 11130 Supports

Trade smart and trade well!

YM: 11578 - 11538 highest odds short FTU. 11231 - 11209 highest odds long FTD. 11392 is the immediate line in the sand. 11353 aggressive long. Over and holding and expecting to test 11538 from here.

TraderSmarts Numbers for the YM Emini Futures - Wednesday December 15, 2010

Support becomes resistance and vice versa...

11424, 11460, 11505, 11538 Resistance on the YM Emini Futures

11392, 11353, 11320, 11298, 11252, 11231, 11209, 11189, 11161, 11130 Supports

Trade smart and trade well!

YM: 11538 highest odds short FTU. 11460 aggressive short. 11231 - 11209 highest odds long FTD. 11320 and lil lower early short. 11392 is the immediate line in the sand. Over and holding and expecting to test 11538 from here.

TraderSmarts Numbers for the YM Emini Futures - Tuesday December 14, 2010

Support becomes resistance and vice versa...

11386, 11404, 11431, 11460, 11505, 11538 Resistance on the YM Emini Futures

11353, 11320, 11298, 11252, 11231, 11209, 11189, 11161, 11130 Supports

Trade smart and trade well!

YM: 11538 highest odds short FTU. 11460 aggressive short. 11231 - 11209 highest odds long FTD. 11320 and lil under aggressive long.

TraderSmarts Numbers for the YM Emini Futures - Monday December 13, 2010

Support becomes resistance and vice versa...

11353, 11383, 11407, 11431, 11450, 11505 Resistance on the YM Emini Futures

11320, 11198, 11252, 11231, 11209, 11189, 11161 Supports

Trade smart and trade well!

YM: 11431 highest odds short FTU. 11353 aggressive short. 11231 - 11209 highest odds long FTD. 11320 aggressive long.

You Don't Have to Trade

There was not a lot setting up yesterday morning as the volatility had pretty much died after the first 40 minutes of the cash session. I think a lot of newer traders (and veterans alike) have this constant feeling like they NEED to be doing something. I thought I would share this series of tweets from the Intraday Alerts with the StockTwits community and hopefully drive home the lesson that "you don't have to trade".

Not much setting up...aggressive trades only 7:07 AM Dec 10th via TweetDeck
Market is sideways 6 days in a row... 7:09 AM Dec 10th via TweetDeck

Volatility is just not there. $YM_F in a 150 pt channel for 6 days and most of that has come overnight LOL = not much setting up. about 24 hours ago via TweetDeck

If you take out the o/n moves market in a 50 pt cash session range. about 24 hours ago via TweetDeck

When volatility contracts it leaves aggressive trades. You can force things but aggressive trades CAN lead to aggressive losses. about 23 hours ago via TweetDeck

So many people feel the need to DO SOMETHING. I am content to sit back and WAIT for the market to come to me. about 23 hours ago via TweetDeck

Notice that #1 is patience for a reason :) http://tradersmarts.blogspot.com/2010/05/qualities-of-top-traders.html about 23 hours ago via TweetDeck

Then we had a member ask "what do you do, specifically, to encourage/enforce that feeling of contentment to sit and wait?" This is so important. My reply was to think about the losses that can occur by being an idiot. But then I thought about it and I like to focus on the affirmative so I said it is probably better to focus on what practicing patience will do for your trading and all the benefits it will bring. Which made me think of a video from a while back that was circulating on Twitter and the wonderful line at the end of it: "If you're afraid to fall you fall because you're afraid. Everything is choice".

This is so true. EVERYTHING is choice. You can CHOOSE to be an idiot or you can CHOOSE to make smart decisions. You can CHOOSE to have patience or you can CHOOSE to sabotage your trading. What is the first thing you need in order to CHOOSE? Awareness. Awareness of self.

There is a great line from "Joe Versus the Volcano" (great movie highly under-rated) where Patricia (Meg Ryan) is talking to Joe (Tom Hanks) and she states: "My father says almost the whole world's asleep. Everybody you know, everybody you see, everybody you talk to. He says only a few people are awake. And they live in a state of constant, total amazement."

Be aware. Choose to execute patience in your trading. Be awake. Choose to live life like a child "in a state of constant total amazement".

Here is the video:


Here is the link to the audio (I couldn't find the video) of the line from "Joe Versus the Volcano":
http://www.mindspring.com/~waponi/wav/awake.wav

Update: 10/13/2012 I found the video...

TraderSmarts Numbers for the YM Emini Futures - Friday December 10, 2010

Support becomes resistance and vice versa...

11336, 11353, 11374, 11407, 11431, 11450, 11505 Resistance on the YM Emini Futures

11310, 11298, 11280, 11231, 11209, 11189, 11161 Supports
Trade smart and trade well!

Trade smart and trade well!

YM: 11431 highest odds short FTU. 11353 aggressive short. 11231 highest odds long FTD. 11280 aggressive long.

TraderSmarts Numbers for the YM Emini Futures - Thursday December 9, 2010

TraderSmarts Numbers for the YM

11343, 11374, 11407, 11431, 11450, 11505 Resistance on the YM Emini Futures

11310, 11298, 11280, 11231, 11209, 11189, 11161 Supports

Trade smart and trade well!

YM: 11431 highest odds short FTU. 11231 highest odds long FTD. 11297 aggressive long.

Contract Rollover is today. The TS #'s are for the front month contracts.

How I handle contract rollover: http://tradersmarts.blogspot.com/2010/09/how-i-handle-contract-rollover.html

TraderSmarts Numbers for the YM Emini Futures - Wednesday December 8, 2010

Support becomes resistance and vice versa...

11344, 11385, 11402, 11422, 11463, 11505 Resistance on the YM Emini Futures

11298, 11265, 11252, 11233, 11209, 11197, 11168, 11129, 11108, 11091, 11045, 11015 Supports

YM: 11505 highest odds short FTU. 111384 excellent spot to consider short. 11210 highest odds long FTD. 11265 - 11233 excellent spot to look for long

TraderSmarts Numbers for the YM Emini Futures - Tuesday December 7, 2010

Support becomes resistance and vice versa...
11382, 11411, 11422, 11463, 11505 Resistance on the YM Emini Futures

11349, 11338, 11298, (11265, 11252, 11242), 11209, 11197, 11168, 11129, 11108, 11091, 11045, 11015 Supports
Trade smart and trade well!

YM: 11505 highest odds short FTU. 11422 - 11411 good spot to to consider short. 11209 highest odds long FTD. 11265 - 11252 excellent spot to look for long.

TraderSmarts Numbers for the YM Emini Futures - Monday December 6, 2010

Support becomes resistance and vice versa...

11353, 11379, 11411, 11422, 11463, 11505 Resistance on the YM Emini Futures

11338, 11298, 11273, (10252 -10242), 11209, 11197, 11168, 11129, 11108, 11091, 11045, 11015 Supports

Trade smart and trade well!

A feel for the Intraday Alerts

This is part of an email I got yesterday from a potential subscriber (and friend on Twitter). I get multiple variations of this question ALL the time so instead of having to rewrite a similar answer for each email I figured I would make a blog post that I can direct people to :)

Here was the question:

Could you tell me a little bit about your Live Intraday alerts. Specifically what I would like to know is are you calling out areas as they happen, or are there discussions involving potential buy/sell zones ahead of time and reasons for the trade, risk etc…

Answer:

I try to set up the trade ahead of time like this "Stalking long/short (whatever contract we are trading) at X, stop is Y, first scale is Z". I think it is important for subscribers to be able to evaluate the risk ahead of time and see if they want to take the trade. This is how most of the trades are laid out. That being said there are times that I will see something fast and enter fast and say "long/short (whatever contract we are trading) at X, stop Y". In these instances price may have moved for or against my entry so it could either give you a more favorable entry or less favorable entry :) For the most part though you will get the trade set up ahead of time so you can decide if the trade risk fits your risk parameters and make the decision to take the trade or not.

Here is an example of a GC trade we took on Thursday 12/2/2010:

Stalking long GC 1391.1 & 1389.6 Stop is under and holding 1389 7:47 AM Dec 2nd via TweetDeck

Here comes GC Thursday, December 02, 2010 8:12:10 AM via TweetDeck

Long 1391.1 GC Thursday, December 02, 2010 8:13:32 AM via TweetDeck

First scale on GC is 1392.8 Thursday, December 02, 2010 8:15:12 AM via TweetDeck

First scale filed on GC out 1/4 + 17 ticks Thursday, December 02, 2010 8:18:49 AM via TweetDeck

Next scale is 1394.2 GC leaving 1/2 on to trail to hopefully over 14K Thursday, December 02, 2010 8:19:43 AM via TweetDeck

2nd scale filled on GC + 31 ticks at 1394.2 Thursday, December 02, 2010 8:21:26 AM via TweetDeck

Peeled another 1/8 1399.3 GC Thursday, December 02, 2010 8:24:43 AM via TweetDeck

+ 82 ticks GC 3/8 left... waiting for the buy stops over 14K. Who remembers extended target from yesterday? Thursday, December 02, 2010 8:26:05 AM via TweetDeck

Taking off another 1/8 1401.1 for 100 ticks if get chance and then another 1/8 at 1406 ish leaving 1/8 for 1413 extended target. GC 8:43 AM Dec 2nd via TweetDeck

Sigh unreal out of last 3/8 GC for scratch Thursday, December 02, 2010 9:57:34 AM via TweetDeck

Should have trailed that bad trade mgt on my part GC Thursday, December 02, 2010 9:58:31 AM via TweetDeck

And that was the GC trade. Could have managed the last 3/8 of position better but you get the point about about how I try to lay things out in advance for subscribers.

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - Friday December 3, 2010

Support becomes resistance and vice versa...

11353, 11388, 11411, 11463, 11505 Resistance on the YM Emini Futures

11320, 11298, 11273, (10252 -10242), 11212, 11197, 11168, 11129, 11108, 11091, 11045, 11015 Supports

Trade smart and trade well!

NFP @ 5:30 AM PST.

Another white candle on daily and we have Three White Soldiers.

YM: 11505 highest odds short FTU. 11411 - 11388 good spot to consider short. 11265 - 11252 highest odds long FTD. 11298 aggressive long.

TraderSmarts Numbers for the YM Emini Futures - Thursday December 2, 2010

Support becomes resistance and vice versa...

11242 - 11252, 11273, 11325 - 11315, 11360, 11411 Resistance on the YM Emini Futures

11212, 11197, 11168, 11129, 11108, 11091, 11045, 11015 Supports
Trade smart and trade well!

Three White Crows on deck?

YM: 11411 highest odds short FTU. 11325 - 11315 good spot to consider short. 11108 highest odds long FTD. 11168 an excellent spot to consider long.

http://www.tradersmarts.net/