There has been a sighting

And there was much rejoicing.

A blue bar! A blue bar!

Actually 3 on the 5 minute chart, that last one is after 4:00 EST. The 2 short trend bars did not line up with anything on the renko or 1 minute chart. The big blue long 5 minute bar set up nicely with the renko and a new swing high.

So we have 390 minutes of trading to watch each day, we spent 386 minutes doing nothing, 1 minute of trading, and 3 minutes of joyous celebration.

Another exciting day in the life of a day trader.

5 Minute YM Chart

8 Tic Renko YM Chart

Trading Boredom

You know the problem with these stupid blue bars is, THEY NEVER TURN BLUE. Ever since that stupid EIT (exceptional Irish trader) showed me how to program sierra my MUT (made up trade) trading has gone way down. Down all the way to zero actually.

Oh sure profit is up, but what am I to do all day. This was the best I could come up with.



Yes, those Brits are mean.

On another note the Hugo Chavez, I mean Danny Williams AbitibiBowater saga continues.

Wonderful World

I saw this on Trader X's blog who saw it on Pradeep's blog. After watching it take a moment and think about how you just watched this.



I sit on my tush in Stubblejump Alberta trading DOW futures in Chicago, or crude oil futures in New York, chatting with traders from Ireland, America, Jordan, etc, while listening to blues radio UK. Think about all that is occurring at the speed of light to make that happen, and yes, I get mad if something doesn't quite work right for a few seconds. Actually I get mad if it even slows down for a while.

Amazing.

The first house I owned, me not my parents, had a party line for the telephone.

No, not a 1-800 party.

See how I saved you kiddies the trouble of googling that.

Google now there's another, ah never mind, you get the picture.

FED

The Fed made money free and the market went up.

Imagine that.

The now "magic" blue bars kept me flat until after the announcement, and then laid out 4 trades after the rate cut.

5 Minute YM Chart

1 Minute YM Charts

YM Trading

The DOW futures came back to life Friday after a slow week of trading. Today had some intra day range and was a nice trading market.

I was watching the 5 and 1 minute charts again and trading mainly off the 8 tic renko chart. This 5 minute chart shows a couple of the strong long moves we saw today.

With the blue in place on the 5 minute we looked for long entries on the renko chart.