Emini Trading Update – Friday 3 Feb 2012 (18:58)

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Well all the range was pre-open after the employment numbers came out. So not much to play with during the day. The best plan was to get out with a little and then leave it alone. There will be other days.

Link of the day …

I’m sure everyone knows that the Labor Department stats are heavily massaged. To me, it feels like the Ministry of Truth in George Orwell’s 1984. Good intentioned, I’m sure. Oh, and also just given a huge boost to Obama – watch him milk that for all it’s worth!

But a Government department surely should just report the facts – and then leave it to private sector data analysts to do their own seasonal adjusting, etc. etc. Market participants would then use the “value added” analysis that they feel has the best track record and has the best commentary.

Plus, just an aside on seasonal adjusting: it’s totally necessary. Just look at a 12 month change and it eliminates having to adjust for seasonality. Duh.

Anyway, the Ministry of Truth is driving Charles Biderman of Trim Tabs to distraction. Great little videos – plus my daily weather report from SF.

Quotes of the day …

Feedback from the latest versions for TradeStation has been great. Thank you to every one. Here’s a taste:

From Keith R.

“Hi Barry, Hey, can I get the passwords again? I lost them … Just Kidding!!! ; ) Just a quick word of thanks for the updates to the ‘Better’ series … Obviously a lot of work on your part as the import is very streamlined and the setup is simplified. The colors will take a bit of getting used to but the additions are awesome! A very pleasant surprise considering software nowadays.”

And from Scott D.

“I just reviewed your indicator upgrade video. Here’s what I have to say: BRAVO! BRAVO! BRAVO! Outstanding! Thank you for putting so much thought into your new versions. Very nice refinements. About the color scheme: I like your thought pattern about color schemes. I had not considered that angle before. My thought pattern has always been: green or greenish for bullish indications, red or redish for bearish indications. I’ll have to reconsider my thinking on this. Thanks again for all you do! I’m addicted to your videos.”

If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.

Emini Trading Update – Wednesday 1 Feb 2012 (13:03)

If you appreciate these free Emini trading videos then hit the Google +1 button.

Well we’re in the middle of Pull Back to End of Trend playing out on the 135 minute chart – been talking about this for over a week or so, and finally it’s here. We also need to see exhaustion blow off type volume.

Getting a couple of emails about the lastest release of the ‘Better’ indicators – they’re not out yet. Please bear with me. The video below though shows what’s new.

What’s New – 30 January 2012

What’s New – 30 January 2012 (16:50)

Summary of the key points in the video above:

• Better Sine Wave no longer requires Jurik Moving Average (JMA)
• Better Momentum now includes Pro Signal Exit and First Divergence signals
• Pro Signal Exit, First Divergence and Flush signals on price bars in real time
• Better Pro Am PaintBar and “text” indicator combined into 1 piece of code
• Color convention: Red/White for price-based; Blue/Yellow for trade size-based
• Naming convention consistent (e.g. _Better_Sinewave and _Better_Sinewave_2)
• Password required for all indicators and error message when missing or incorrect

If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.

Emini Trading Update – Tuesday 31 Jan 2012 (16:57)

If you appreciate these free Emini trading videos then hit the Google +1 button.

Real news driven day with Chicago PMI and Consumer Confidence numbers coming out. I hate holding through data releases and so had to take my trades after the numbers came out – and so missed some good volatility. Anyway, not much else to say.

I’ll put up a video tomorrow on “what’s new” with the latest version of the ‘Better’ indicators – but please note, the latest release is for owners of all 3 indicators (Better Sinewave, Momentum and Pro Am).

If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.

Emini Trading Update – Monday 30 Jan 2012 (12:43)

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Sold off Sunday evening into the first 30 minutes of Monday – then spent the rest of the day rallying. We’ve gotten back to Friday’s levels, but it’s pretty weak. For me the next level down is support on the 135 minute chart – somewhere below today’s Low and above 1,265. We’ll see.

Link of the day …

Great stats from Jim Bianco on The Big Picture about QE around the world.

I had no idea the German, French and European Central Banks were so active in QE. It makes what the Fed and BofE are doing look “normal” – but at least they are open about what they are doing. The Europeans are doing it covertly.

I can tell you, having spent 3 months in France at the end of last year, there was no talk about what the French Central Bank was doing – absolutely NONE.

QE used to be called the “nuclear” option. Today it looks as ordinary as a trip to the mall. Except we’re all living in a Jurassic Park experiment.

If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.

Emini Trading Update – Friday 27 Jan 2012 (19:50)

If you appreciate these free Emini trading videos then hit the Google +1 button.

Technical glitch getting this video out, so sorry for the delay.

Very quiet day today – not unexpected after 2 trend days, one up and one down. For me the best thing to do is stop trading before I start to over-trade. So closed up shop after 2 trades and down 1.25 points.

Just tagged on the day trade videos because I do get requests, but very uninteresting so not recommended viewing.

Better X-Trend for NinjaTrader and MultiCharts is now on the website. Please unzip and read the installation PDF first. You can download Better X-Trend here.

If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.

Emini Trading Update – Thursday 26 Jan 2012 (10:40)

If you appreciate these free Emini trading videos then hit the Google +1 button.

Huh, well that was just like yesterday. Took my OSOK 4 points and then by the end of the day there was another 13 points in that direction! I just don’t have the DNA to hold – “don’t get greedy, get out” is my moto. Apologies for the sound being low on the video.

With the Apple numbers, Benny B.’s comments and today’s pop and drop at 9am it does feel like the Pro’s are using this to take profits. Still looking for that PullBack to End of Trend on the 135 minute chart – we’ve got it one time frame down, on the 81 minute chart.

Quote of the day …

After my rant on Sunday, I’ve been getting some great emails. Thank you – and only 1 request for the Better X-Trend password! This is progress

Anyway, here’s one of the best from Michael J.

“I realize you get inundated with emails … here is just a testimonial and thank you for such a great indicator package. I have tried all the others, from stochastics, moving avgs, bla bla bla. I am in a popular day trading room and they are now reliant on my calls for entries. Many hard headed folks out there are resistant to change platforms, which I will never understand but I wanted to personally thank you for your great work. I started a simulator account on Tradestation and went from 50 k to 250 k in 2 months. I realize my fills might be better than actual but I usually exit early to account for that. I am going live soon, and you have changed my life. This is unbelievable … you rock.”

Indicators are just indicators – it’s how you read the market and react to what you see that counts. But thank you Michael.

If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.

Emini Trading Update – Wednesday 25 Jan 2012 (21:45)

If you appreciate these free Emini trading videos then hit the Google +1 button.

Sometimes I agonize over my exits – actually, most of the time – just hate retracements when I’m up. But the simple fact is if you’ve got the trend direction right, everything will work out fine.

Case in point today. Took 3.50 points instead of waiting for my 4.00 then went back to bed. Woke up to find the market another 10 points higher. Huh.

Anyway, one of those long day trading videos today where I babble on about every little twist and turn the market makes. Believe it or not I get requests. Hope you traded well today.

If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.

Emini Trading Update – Tuesday 24 Jan 2012 (7:18)

If you appreciate these free Emini trading videos then hit the Google +1 button.

Slow grind up day today. Tricky trading with no decent trend moves – a perfect opportunity to over-trade, which of course I did. And then missed the nice exhaustion trend move into the close.

Also means tomorrow is more likely to be a trend day, so looking forward to that.

Finished my coding changes and the latest version of the ‘Better’ indicators will be released to TradeStation users in the next couple of days. For NinjaTrader users the Better X-Trend will be released too. So stay tuned.

If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.

Emini Trading Update – Thursday 19 Jan 2012 (19:22)

If you appreciate these free Emini trading videos then hit the Google +1 button.

Looks like some profit taking today (high volume churn plus high average trade size) – but I think we’ll get a blow off move tomorrow before coming off on Monday and Tuesday.

Remember, the up trend is still in place until we make Pull Back to End of Trend on at least the 135 minute chart. Plus all the “risk on” charts are looking strong.

I’ll do an update on Better X-Trend tomorrow because I’m getting quite a lot of enquiries.

If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.

Emini Trading Update – Friday 13 Jan 2012 (7:15)

Short discussion in this video about “vacuum in the tape” – a pattern of Amateur bars back into congestion. At first glance it might look like the reversal move is weak and being led by the Amateurs. But wait for confirmation from the Professionals and see what they do next.

Getting back into it slowly and still adjusting to the time zone change. Plus got a new computer and all my settings have gone and need to be re-input. Everyone knows what that drill is like, right?

Question of the day …

Question from Greg S. about Apple Macs:

“Is using a Mac still working to your liking? I have been wanting to make the jump to Mac for a few years now and your video about your Mac really sold me on switching.”

Short answer is Yes. But my last machine was a dud. Apple is not invincible.

During the latter part of 2011 I was plagued with performance issues on my 17″ MacBook Pro and so decided to upgrade to the SSD (solid state drive) version of the machine while in California.

Then a “little birdie” told me that the 2011 MacBook Pro had processor problems and Apple quietly replaced that particular processor in late 2011. Well that explains everything! I was sold a lemon and I knew something was not right from the get-go. I’m glad I ditched my 2011 machine but lesson learned: Apple products can let you down.

Anyway, so far so good with the new machine. Runs quiet and fast. But what a pain it is to change machines. When will they make this easier?

If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.