Slow Rate Down

Another week in review…

CM RoadMaps for CL and ES Monday 03/19: short bias below open range, long bias above open range, hold for measured price objectives. The market (any market) tells you right where it wants to go… five minutes after the pit sessions open.

Tuesday 03/20

Wednesday 03/21

Thursday 03/22

Friday 03/23

Big picture: there are only a handful of actual, tradable price moves for any given symbol inside an average week. Few more when volatility is high, few less when volatility is low. All the time spent in between real directional moves is too often spent wasted over-trading in sideways chop out of sheer boredom, fear of loss, both. Called (or justified) by any other description, trader churn is still churn.

The recent work I have done in markets (plural) is based on slower intraday charts focusing on big-picture moves. Not the scalpy-scalp chicken pick stuff… leave that for those who are interested in playing small-ball trading. I prefer to slow it down, calm it down, relax the nerves and mind while thinking clearly and avoiding 95% sheer boredom / 5% manic action.

At this time I’m real-time researching futures options for CL & ES and stock index options (SPX, SPY) for the ES along with straight futures contracts. There are pros and cons to each. Also looking at futures spreads trading such as long front-month CL / short next-month CL, long soybeans / short corn, etc. In other words passive trades that develop and unfold over time, allow for deliberate entry and exit points rather than trying to execute on the sharp edges.

It will be several months before I’m seriously active in one or more of these arenas, until then hit and miss as life schedule dictates. I will not be updating this (or any other) site except for sporadic, infrequent posts now thru then. I mean what’s the point? What you see above is what goes on unchanged, day after week after month after year in any/all active, moving markets. No sense repeating ourselves for the sake of filling web space.

Here’s wishing you well in and out of the markets… catchya down the road 🙂 Austin
austinp@coiledmarkets.com

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