Thursday, May 14, 2009

Thursday Notes - OK, Where Were We?

3:30pm OK, where were we before we were rudely interrupted by yesterday morning's events? Oh yea, walking along the 2009 trading path before stepping on that banana peel yesterday morning before regaining solid footing to end the day.

And so it was back to work today to continue yesterday's late-day momentum and trade the infamous "morning after trend day" which is what this trader did to clock in a tidy +$8K on only 928 contracts on a couple of high % oscillation sequences.

And with that, I called it an early day to get ready to head to Boston for Game 7 of the Bruins-Hurricanes series tonight. Yup, corporate suite again. But like last year's Sox-Rays game, it's expected to be a late night so will probably take it slow Friday A.M. (And I'm not leaving early this time, no matter the score.)


Severino said...

Hello Don,

May I ask what time you took your first sequence
in the cash session?

Thanks as always,

A proud Pittsburgh native.

Steve said...


Just curious, but what do you consider a trend day? Yesterday was a good size down day but action during the day didn't seem too trendy.

Thanks, love the journey.


Don Miller said...

Sev -

Already put the day behind me, and don't particularly prefer looking back for psychological reasons that I'm sure you can understand.

I believe most of my early sequences were shorts though on upticks as I don't recall any longs as we didn't break low enough for my liking (below yesterday's range).

Looks like Pittsburgh - Carolina in the semis. Bruins couldn't close the deal in Game 7 overtime. Great game, tough loss ... felt like trading.


Don Miller said...

Steve -

Good question and I actually thought about mentioning that the trend was arguable as I did a few weeks back in a similar situation, yet the fact that it couldn't fight through upticks late in the day was good enough for me to feel there would be a high % chop in the early going today.


Greg said...

Hi Don! New to site, great stuff, thank you. I have been day-trading the ES about 5 mos now, and have yet to become consistently profitable. I am an Investools PHD grad, good at Tech Analysis, studied early on, then and Firstwave (David Elliott). All have provided valuable input but I have yet to construct a consistently profitable system. I would like to execute maybe 3 to 15 (max) trades per day. Is there any way I could learn your methods/system? My goal is not to become wealthy (been there, done that), but rather fund multiple charities, one in particular that is in dire need right now and I really want to help (I can show you details on it if interested). Any help is most appreciated. Thank you, gh

LeanLeland said...


Great that you recovered from Wednesday with such a big win.

I have been day trading for 5 months and have yet to be consistently profitable. I am studying different methods and feel like I am close, but I have thought that before.

It is great to read your post to see another going through same struggles yet succeeding.

Thanks for the inspiration.

TheRumpledOne said...


I notice you keep score in dollars.

I keep score in percent return.

Is there a reason you look at the $ instead of the %?


Download and listen to Mark Douglas



Don Miller said...

Rumpled -

Please refer to the "My views on ROR" post in the key link list in the lower left margin.

I only care about absolute $ for the reasons listed there.


Unknown said...


I enjoy your blog and have gained from reading it. What do you mean by high % oscillation sequences?


Don Miller said...

Hi Craig -

I'm referring to anticipated early oscillating trade movements on the morning after a prior day's trend. It's a topic heavily referenced throughout the blog.