Owner: Pure Tick Futures Trading URL:http://www.puretick.com Join Date: Tue, 26 Dec 2006 12:22:04 -0600 Rating:0 Site Description: Providing accurate guaranteed trading calls and advice for new & current traders. We do this in our audio/visual chat room. The site offers a variety of free advice/help for the new trader. Site statistics:Click here
Dec 26, 2006 Monday Morning Session 2006-12-26 18:33:40 We are 1/1 green on Official Room Calls. Our first Room Call was a short on the daily pivot overshoot (the price overshot the YM daily pivot by 13 points) at 12451, a point above the daily pivot on failure to make new highs and an overbought trigger (10:03 AM EST). Most of our traders got out at the 12444 target 1 level snagging 6 points although others manage to scale out at the 12437-38 level near target 2. Great job all! There were no other Official Room Calls, but it is noteworthy to point out some triggers which fired and were pointed out for instructional purposes. There was a valid oversold trigger which fired 10:48 AM EST, which was not indicated as a room call because the stop was too far away to justify the small target 1 which was near the daily pivot just above (bad from a risk reward standpoint). We had a decent overbought trigger which was banking on a failure at the high of day which some of our traders took, but Alex deemed too risky because it was in dead Read more:Monday
, Morning
, Monday Morning
Podcasts of audio transcripts 2006-12-26 10:25:20 We will soon be restricting access to the audio transcripts of the Live Trading Room to our subscribers, although periodically freebies will be posted. Please check back for further details.
Premium Content Test Audio:Â Test Audio
Read more:Podcasts
Dec 22, 2006 Fri Afternoon Session 2006-12-22 22:20:31 There were no Official Room Calls for the rest of the day, as Alex felt it would be better to use the afternoon session for instruction rather than risk our green from the morning on light volume trading. Here is the particularly good audio transcript: Afternoon
Session Audio Merry X-Mas! Remember the market and PureTick will be closed on Monday the 25th for X-Mas.
Dec 22, 2006 Fri Morning Session 2006-12-22 19:04:55 We did excellent this morning with 3/3 trades green on Official Room Calls. There was no gap of significance to play (only a 3 point gap up). The trend day yesterday followed through today with a second trend day in a row as we saw some fierce selling early in the morning.  The two trend days in a row phenomenon happens often when you get a NR7 (narrow range seven) day, then a trend day which resolves to be in the  opposite direction to the major daily trend (which for the YM is of course up). Our first trade was a counter trend bounce play off the daily YM S1 pivot. We did take some heat as the S1 was overshot by 10 points but good stop placement gave us a decent gain on the trade. The second Room Call was also counter trend. On the third Official Room Call, we went with the major daily trend (down) shorting the retracement on an overbought trigger (we love the trades where we can get in with triggers and filters aligned), which in this case was about .5 retracement Read more:Morning
Mint Holiday M&M's 2006-12-22 15:08:38 Great Trading this week!! Thanks Alex!, for keeping us out of the chop. Have a grand holiday! Don’t eat too much and snag some of your free time to read a copy of Mark Douglas’s “Trading in The Zone”. I know I keep mentioning this title (mark hasn’t paid me off! hehe) but it’s one one of the books that really helped me drag my trading out of the gutter. The ISBN # is on our recomended reading page here P.S. My quest to find mint m&m’s has failed.
Geoff
Read more:Holiday
Dec 21, 2006 Thurs Afternoon Session 2006-12-21 22:42:14 The morning did not behave as one might expect of a strong trend day, but we were hit by the anticipated trending move (we have yesterday as the narrowest range day in 19 daily bars, qualifying as “NR7″) at lunch time (surprise, surprise) between noon EST and 1 PM EST. Alex called in from his break to warn us that we should now be looking to short retracements off of the sell-off. This is exactly what we did and every single Official Room Call and non-official Alex personal/instructional/speculative trades (which were shorts off of retracements) ended up green. Although from 1 PM EST forwards we made higher lows, we managed to short at or near the reaction highs and ride the sell-offs. There were two Official Room Calls in the afternoon, the first was off the daily S2 YM pivot on a second test of that pivot level, and the second Official Room Call was a short from an overshoot of the daily S2 pivot level. Congratulations to Alex and all room members for a great d Read more:Afternoon
, Thurs
Dec 21, 2006 Thurs Morning Session 2006-12-21 18:50:32 So far an excellent day for both official (Room Calls for track record) and non-official (instructional/speculative calls Alex akes in his personal account) trading calls, although gains are hard fought. We are 2/2 green so far on Room Calls. The first Room Call was a short of the 15 min opening range break of the 12540 level at 9:18:40 CST (entry for our breakout/breakdown trades is to put in a buy/stop or sell/stop order). For the breakouts/breakdowns, we did not have much follow through either way on the initial break of the 15 min opening range (due to low Holiday volume, the first breakout and first breakdown were only good for max 4 YM points on the breakout of the upper bracket and max 8 YM points on the breakdown of the lower bracket). CajunSniper and myself got stopped out on our own personal account trading attempts to buy the breakout, however, Alex made profit (5 points) for the room on his own short of the 15 min range breakdown. I guess that is why Alex i Read more:Morning
, Thurs
What the heck is a POC? 2006-12-21 18:28:53 Evening,
We had a few people in the room ask what POC was today. Here’s your answer. In video format:
LINK: http://puretick.com/video/mp/
Dec 20, 2006 Wed Afternoon Session 2006-12-20 23:12:30 After Alex took his profits on the “sneaky lunchtime buying” spurt, the price kept going down from noon EST until 1:30 PM EST, dropping back in to the 15 minute opening range boundary. There was a weak retracement bounce from 1:30 PM EST to 2:30PM EST (about a 1 hour long retracement). Our single Official Room Call in the afternoon had nearly ideal trigger parameters and was a short of that sell-off retracement (going with the major trend but getting in on the retracement) which began 1:30 EST and ended about 2:30 EST.  The short was from 2:32 EST and rapidly declined from the entry of 12562 to target 12550. There were no more official calls but Alex did call out one of his personal account trades (a short) from 3:39 PM for instructional purposes (it was deemed too risky for new traders to enter this late in the day). It was a decent scalp. In case you missed the afternoon session or the Room Call, the audio transcript is now available: Afternoon
Session
Dec 20, 2006 Wed Morning Session 2006-12-20 18:23:23 We are 1/2 green today so far with a decent long which followed through nicely and a short which was against very bullish filters (stopped out for a reasonable -10). The mode today has been very bullish filters, but choppy up. There was barely any sort of gap this morning and thus the gap did not have any sort of influence on today’s price movement. Alex did take a personal account trade (not an official call) at about 11:55 EST to capitalize on oversold triggers and “sneaky lunchtime buying,” which is last minute buying by institutions right before the traders leave for lunch. Hear about this phenomenon in today’s audio transcript (near the end): Morning
Session Audio
A great trading tool 2006-12-27 00:58:15 Welcome back to the hunt!
We’ve created a quick video showing how to take the ADV/DECL issues in to consideration in your trading. I’ve had a few users ask about them over the last few weeks. Hope this is informative. It’s quick one (only about two minutes in length). Hope everyone had a good holiday break.
VIDEO LINK HERE: http://www.puretick.com/video/add/index.html
Geoff/CajunSniper
Dec 26, 2006 Monday Afternoon Session 2006-12-26 23:04:04 We had no Official Room Calls for the Afternoon
Session, however there was a decent overbought short trigger at the end of the day (3:45 EST) pointed out for instructional purposes. The YM ramped up near the end of the deadzone and followed through in the afternoon. No trades were called on the oversold long trigger identified at 3:00 PM EST at 12476 with stop calculated at 12469 as there was not enough volume to justify breakouts (which are better to be played in the morning or on heavier volume days) on this light volume day. Alex specifically advised us to take the non-official instructional trades on the simulator for practice/illustration to keep us out of trouble (a very good idea when traders are not really back in force after the Christmas Holiday). Here is the afternoon audio transcript (Premium Content): Afternoon Session Audio
Read more:Monday
Dec 27, 2006 Wed Morning Session 2006-12-27 19:22:28 A nice 33 point gap up was apparent on the open. Gap players looking for the fill or even taking profits at the 50% retracement (which was never hit) level are under a lot of heat so far as it looks like the price might continue upwards here at lunch. Statistically, gap trades have a 70% chance of working, but this looks like one of the days the gap trade might not work. 15 minute opening range breakout players did barely make their minimum 10 point target, but not by much and also took a lot of heat before the trade worked.
We are 1/1 trades green on Official Room Calls. The Room Call was an excellent short from 10:01 AM EST where we got a nice high volume red bar on the 3 minute chart and overbought short trigger. The short was called slightly above the YM daily R2 level, which was overshot by 9 points on a strong morning ramp up and good for 10 points or more. There was a second short trigger announced at 11:15 AM EST at 12564 YM price but it was not deemed fit for bein Read more:Morning
Dec 27, 2006 Wed Afternoon Session 2006-12-27 23:59:40 There was a heavy volume thrust up near the end of deadzone, after a long 2 hour 45 minute consolidation period. As we returned from our lunch break the thrust up from lunch had paused. Our first Official Room Call short saw the pause in the move up as a top, but the price ramped up making new highs, stopping us out.  Ultimately the YM reached its daily S3 level before chopping around the pivot. On the second Room Call short call near the S3 pivot, there was a heads up to take some off the table early at 12580 by CajunSniper and some off at 12577 by Alex so hopefully (especially for the newbies) you clipped out early for a small gain. Alex did stop out on the second half of his position so the trade will be reflected in the track record as a small stop. It was a tough afternoon for us overall, as both Official Room Calls were stops.  Since both Official Room Calls were counter trend and against strong filters, the risks were higher. Following is the afternoo Read more:Afternoon
Dec 28, 2006 Thurs Morning Session 2006-12-28 18:57:14 There was not much of a gap to be played this morning (8 point gap) and it was filled early. Alex expected a chop day after the strong trend move from yesterday and the character of the market did make itself evident before our 15 minute opening range had developed. Initially, on the open, the YM sold off, but then there was a strong ramp up to test premarket resistance. From there (the highs of the day in our opening 15 minutes), there was a equally fierce sell-off that brought us back down to the lows of the day. Our first play was an unofficial speculative/instructional trigger to short the breakdown of the 15 min opening range (at 9:48 AM EST). We do not typically call this trade (or the gap trade) as a Official Room Call as the stop level will usually be too wide for beginning traders to stomach. Also these trades need to be followed consistently day in and day out (despite drawdowns) for there to be a good net result. The instructional/speculative 15 min openin Read more:Thurs
, Morning
Dec 28, 2006 Thursday Afternoon Session 2006-12-28 22:59:54 We got one of those near the end of deadzone ramp-ups while many of us were away on lunch break. There were no more Official Room Calls for the rest of the day, but Alex did put on a short near the new high of the day in his personal account which he warned us not to follow (entry price 12560-561 at 2:18 EST). The price did pull back and seemed to form a bull flag like pattern. Althought Alex himself was stopped out on part of his position on the seeming follow through to the long side (a continuation move up off of the bull flag like sideways consolidation) the price failed after only exceeding the day’s high by 4 YM points (in other words a fake out break out). If stop placement was too narrow, the fake breakout would have stopped out the shorts who got in on the first failure at the highs (2:24 EST), which is what Alex pointed out happened to him.  The TTW (Trades that Work) trigger stop of 12609 would have kept Alex in the trade, but he moved the stop down four Read more:Thursday
, Afternoon
Dec 29, 2006 Fri Morning Session 2006-12-29 20:09:45 There was not a gap of much significance to be played this morning. In the opening 15 minutes, there were characteristics of a choppy market today as we got an initial fierce heavy volume sell-off followed by a strong bounce (observe the long lower shadow on the 3 min chart’s 9:30 AM opening bar) and break-out over the 15 minute opening range. Our first play was a short at 9:53 AM CST where the priice was at the 3 min high bands stochastics and had overshot the 3 and 5 min upper bollinger bands. At the time there was a nice long upper shadow with volume showing selling pressure. Our initial market order entry point did cause us to take some heat, but the TTW (Trades that Work) scale in strategy produced profits for those that added higher at our specified scale-in point and scaled out near entry. For those who could not scale in, they got away from the trade with break-even or a small gain. Our second Official Room Call was a long from the daily YM pivot (11:01 AM EST Read more:Morning
Dec 29, 2006 Fri Afternoon Session 2006-12-29 22:29:54 We bounced back in the afternoon with an Official Room Call short from the pivot at 2:23 PM EST, which only took 3 minutes to reach its target from our entry. The previous morning Room Calls all took a relatively long time to either reach the target price or stop us out. There was a good lesson this afternoon in keeping one’s composure if you take a stop. Alex had gone long on the S1 daily YM pivot in his personal account in anticipation of a turn-around but the heavy selling melted right through the pivot stopping him out in the first minute or two of the trade. Not losing his composure, he got in again 3 minutes later with a personal account trade long and valid overbought trigger to recoup his losses. Have a great New Year celebration and remember that Jan 1, 2006 is a Holiday for us and in addition the CBOT has announced in the last two hours that Jan 2, 2006 will be a holiday for us in accordance with the nation honoring President Gerald Ford’s passing. Read more:Afternoon
Dec 19, 2006 Tues Afternoon Session 2006-12-19 23:03:42 The deadzone was characterized by choppy behavior back and forth around the YM daily S1 level.  There were some good $TICK extreme/3 min Bollinger Band fades to be had during lunch (typically a no-trade zone but good for fades on choppy days). The chop was broken by a fearsome ramp up at about 2 P.M. EST near the end of deadzone which took us to the daily YM pivot. We waited out the choppiness around the pivot level for the price to resolve itself, banking on a failure at new highs but were stopped out for about 8 points as the price showed strength/buying. In retrospect, the $TICK chart did give a clue as to the strength of the breakout as the price only pulled back slightly with a large $TICK pull back from 1300 ticks to 300 ticks with the price retracing only 8 points at about 2:55:02 EST. The price did ramp to the daily YM R1 and overshot by 5 points before topping out and bleeding off in to the close. One or more of our traders did manage to catch the ramp up Read more:Afternoon
Dec 19, 2006 Tues Morning Session 2006-12-19 18:07:54 An excellent morning for us as our official calls were 3/3 green. Scale-out gap players did well, as we got nearly to the gap-fill level on the YM and did achieve the full gap fill on the ES. All plays were shorts, which were in-line with the primarily bearish bias filters. Here is the Live Trading Room Audio: Morning
Session Audio
Wear Shoes on the Road To Success 2006-12-19 00:41:17 We get a lot of feedback from struggling new traders every day.
I can assure you, that every one who has ever traded has gone through what you guys are going through now.
I am telling you the truth that it took me 4 years to get on track. As hard as it is to believe, even with heavy training, I still retained the tendency to keep repeating not only the same trading mistakes but also kept the same attitude that prevented me from being a consistent winner.
There are a number of common mistakes that jump in to my brain. I will try to address the ones that are most important from people I have met, and my own trading beginnings.
YOUR MINDSET is the number one important factor. Please stop reading this blog and go out and grab the book Trading in the Zone by Mark Douglas. It deals mostly with psychological issues which by far are the number one reason traders fail! Or if you want to do what CajunSniper does, go read the book at the store while enjoying a cup of java.
My second sugges Read more:Success
Dec 18, 2006 Monday Afternoon Session 2006-12-18 22:30:41 We had only one short trade called, which worked well. The important thing is that Alex kept us from getting hurt by the chop and fake-outs. Here is the audio for the afternoon session:Â
Afternoon
session audio
Read more:Monday
Dec 18, 2006 Monday Morning Session 2006-12-18 18:33:13 We are 2/2 green so far today with a nice short off of the pivot R1 level (which was overshot by 5 points) after a stop run cleaned out the shorts who were too early. Longs who were too late got stopped out also. The gains were hard fought. We have a bearish bias going in to deadzone, with the filters telling us to short retracements. Today is one of those chop days that favors fading extremes.
Here is the first trade as captured in audio:Â First trade today
Read more:Morning
, Monday
, Monday Morning
What? Super Trading Computer?! 2006-12-17 01:42:39 Since I started trading, I’ve noticed many companies in magazines and on the net selling magical trading computer systems. These systems range in price from $3000-$5000. To be quite frank, these systems are a waste of money! They are over kill. A 10,000 RPM hard drive, super zs-2 sound card & SLI PCIE GEFORCE 7800 ULTRA video card are NOT needed to trade. They won’t help you one bit. These trading computers are essentially gaming systems with a few extra monitors thrown on them. I built my 4 monitor trading computer for less then $1500. All you need for trading is a clean system with a decent amount of ram! To achieve a quad monitor system, all you need is two dual head video cards, 4 $199 LCD monitors, a processor of 2.4GHZ+, and 512MB of ram. You could even go out and buy a $499 eMachine/Compaq and add a $49 video card to it and be up and running. Having a fast reliable connection to the Internet and a backup connection is definitely more important then hotro Read more:Super
, Trading
, Computer
Trade Log Book for Excel 2006-12-30 22:21:38 Just a quick note… a few of the room members had asked me to post my excel trade journal file. I have just done so. It can be downloaded by going to http://www.puretick.com/trading.html and clicking on the ‘Useful Scripts’ link. You will see a listing of files. The spread sheet is “Trade
Journal Log Book for Excel
.xls”
Greed is GOOD - In Moderation 2006-12-30 21:40:17 A user who’d been back testing a trading strategy contacted me today. He was very distraught because his strategy only produced $1,200 a month with 3 YM contracts. That’s $400 per month on one set of rules.
Strange thing about money and percentages and the perception of reality……
Let’s just look at the so called puny results described at making $400.00 per month.
Say you told someone who wanted to start a fully stocked computer store business after he told you he only had $5,000.
You might laugh at him. You might say, “are you nuts. No one can start a business for only $5,000.”
On the other hand look at a very conservative person who keeps his money in a bank. My bank right now is paying .75% on deposited funds. So that $5,000. in my bank would pay our investor $3.13 per month. And the investor would not start screaming at his bank.
So what is $400.00 per month worth? Let me ask you. How much would you like to replace your recent bad tr Read more:Greed
, Moderation
Referral Reward Program 2007-01-01 22:05:17 We’ve just started a referal rewards program! Earn $50 a month for every user you send to the site, each month they are a member of PureTick. This program rewards those who are doing ‘word of mouth’ advertising and helps us grow at the same time.
Check out this page http://www.puretick.com/referral.html for more information
Ex: If you referred 10 users to our site we’d give you $500 each and every month.
Read more:Referral
, Program
Jan 3, 2007 Morning Session 2007-01-03 18:23:16 There was a 61 point gap up this morning, which looks like it might not get filled today (although possibly it will be filled on a future date). The early morning (first half hour or so) was showing signs of choppiness. After the econ numbers were announced at 10 AM EST, the market responded bullishly with a big ramp up. We had one Official Room Call this morning, which was a short from the exhaustion at 10:30 AM EST from 12642 which was good for at least 6 points of profit. Others got 8-10 points on the trade.
Read more:Morning
Jan 3, 2007 Afternoon Session 2007-01-04 00:22:45 It was a very difficult and treacherous afternoon for us. Our strategy going in to the afternoon session was to buy retracements of the run-up to try and get in on a long oversold trigger to go with the major trend (bullish filters). We did have an Official Room Call long trigger in the deadzone period (1:30 P.M. EST), which Alex recommended we should only take on the simulator due to it being deadzone. The trade was cut short when Alex said to take profits at 2 P.M. (a good discretionary exit point for about +5 points) due to the FOMC meeting minutes. The YM tanked hard on the very next 3 minute candle, as there was a very bearish adverse reaction to the FOMC report. If one had lingered much after the audio instruction to exit, they would have taken the 17 point hard stop. The second Official Room Call (from 2:47 P.M.) was also a long and did not have good follow through on the up side. Alex warned us in audio to exit half the position at about 7 points profit. Read more:Afternoon
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