timing-and-deep-pockets

Timing And Deep Pockets

I left the trading pits in 2002 and quickly realized screen trading was a different animal. My goal was to go from scalping the markets to a trader looking for bigger moves. I designed a trading system based predominantly on market divergences. This is what I call computer trading at its finest. Computer trading takes the emotion out of trading.
What I know about my trading system…When I get numerous sell signals at the high of the move like we are seeing in the E-Mini S&P 500 (ESM), getting short is all about “timing and deep pockets.”  I have been patient and finally got short ESM at an average of 2052.00.

ESM SELL SIGNALS

If ESM trades below 2012.00 I will add on to my short position.  If this trade comes right, I will look to hold it anywhere from two weeks to eight weeks.  There is a little unfinished business in ESM a gap from February 12 /16 on the cash only chart at 1860.75-1870.25.  Let’s take ESM below 2012.00 and see how the bulls feel down there.

Get more of Tony LaPorta’s actionable trade advice, high-level market commentary, & timely analysis at Simpler Stocks.
Tony LaPorta

Tony LaPorta Futures Maven

Tony LaPorta has been active in the futures industry for over 36 years including membership at the Chicago Mercantile Exchange (CME) and the London International Financial Futures Exchange (LIFFE). Tony is an ex pit-trader turned screen-trader.

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