Alive N Kickin'

Haven't been able to post for a while and really havent taken any good moves in the market. It's been choppy and confusing for my style of trading. Also the fact that I am running on the other half of my account... I am only looking for high high probabiliy trades. Most of them have managed to stop me out almost always lately. Since the loss earlier in the month I havent caught any good moves to write home about.. so hopefully it won't continue like this and we will soon be seeing a trend in the market. Will keep you posted... much much more green ahead so don't miss out. :)

70% Account blowout.. deep in red.. not much to play with...

An overnight limit order caused a serious blow out to my account, down 70-75% in half an hour while I was away.. blew through my stops. Today made a trade in the right direction bailed out at 1.25 ES point of loss only to have the trade go back in my direction. I don't know what to do lately and how to deal with it. I might take a break or maybe not.

Importance of Trend lines..

For a last month or so I have been using trend lines based on pre-market data and using it very successfully during intra-day moves. Today I couldn't trade because the move I wanted to get into started before I was able to get to the trading desk and I never jump in an active move so I stayed on the side lines kicking some good profit for the greater good. :) Anyways, so the trend lines have been working wonderfully lately and have almost given a point or so of move everytime a trend line is being hit..never expected more then that and so far they haven't disappointed me at all.
Following is a picture from today as I came in at desk around 12:40 and drew trend lines based on pre-market data. These trend lines are more like the secret inner resistance/support that are very different from pivot points. Pivot points are always a straight line and very unlike the market action which is up and down so I use trend lines instead of pivot points to make my decision when to enter/exit. As you can see below, until the very end of the day the market kept bouncing off of the trend lines and when penetrated the move continued strongly in the direction of the trend.

There has been a recent talk about how market has changed and a lot of old traders are taking time off and might've to go through the learning curve again. So in light of that, I have been collecting small material/indicator to fall back on if my setups start to deceive me. In my opinion, it's good to make a $50 down from $500 then to not make any and these small indicators can help do just that. Try for yourself tomorrow and let me know how it goes.