Thursday 01/22/09 - Roller-coaster Price Action

My schedule was pretty packed today so I didn't make any real $ trades, and just stuck with taking some jabs on the Sim. Going forward, I'm not going to bother posting the details on the Sim trades unless they offer something particularly educational. At this point, the Sim trades are just helping me develop more faith and discipline in my rules. If a particular trade helps me come up with a new rule; I will be sure to post details about it here.
Needless to say, it was a roller-coaster ride in the markets today. I was able to take advantage of the morning swing down from 817. A couple of my afternoon shorts got stopped out since I stood in front of the freight train run up; even though my buddy Matt warned me against taking shorts in that area. But when you're on Sim, it just doesn't matter and I wanted to experiment. I was able to catch the late afternoon puke though, and shorted the 833s. Unfortunately, I only rode that out for a 4 point gain.
In other news, I got in touch with Infinity Futures today since I've been hearing a lot of good things about their AT trading platform. They set me up for a 30-day trial, and I'll probably Sim trade tomorrow on the AT platform. If the platform works well for me, and Infinity can offer me a decent deal on commissions, I'll move over my trading account in a couple of weeks.

TICK/VIX (3-min)


Market Balance (5-min)


I can't believe we re-tested the 1st hour low so late in the afternoon. I was expecting a pullback on the gap fill at prior day's close, but didn't expect it to tank as much as it did.