It’s no wonder the markets don’t respond well to the Administration. Here’s an informative article:

http://www.greenfaucet.com/the-market/new-trading-tax-to-pay-for-universal-healthcare/58686

The main link:

http://www.govtrack.us/congress/billtext.xpd?bill=h111-676&version=ih&nid=t0%3Aih%3A173

I would advise that everyone contact your Representatives/Senators. You can find instructions to do so online in my previous post:

http://www.tradersteve.com/2009/02/it-looks-as-though-government-is-trying.html

I am finished for the day and flat with a gain of +726 USD. I scalped ES late last night while testing advanced order entry with Book Trader and before going to bed placed a limit order Sell at 754.75 with a stop near the pivot and a profit target of 744. My target was almost hit by the time I woke up. 10.75 point on the ES is a record single trade for me (can be seen by magenta dashed lines on chart). We continued the “waterfall” down below 730 in the premarket hours. It seems that I trade better asleep…:-)

Anyway, I was done for the day after the market open as I wanted to end the week and the month on a great day and not expose myself to a dicey market. I may trade some this afternoon in my paper account to further test IB TWS Book Trader’s features. I will also be researching Forex over the weekend and will be updating blog with any useful information.

I finished the day and I am flat with a gain of + 237 USD. A disappointing day during the “cash hours” as I gave back some from the evening/early AM hours. I couldn’t seem to win in the afternoon battle around the daily pivot (should have stayed out). I used Book Trader for all trades and only made one slip on entry.

I don’t usually trade in the “non cash” hours of the market but was at my desk last night doing a webinar and took 2 trades short on ES for a point each consecutively in the 8:30-9:30PM time frame for a point each (can bee seen in the range of the two heavy magenta, dashed lines on the chart). I also woke up at 4:00 and shorted for 1.5 point. I set up another short before going back to bed at 769.50 with a profit target of 3.5 points. I woke up and saw it had kicked off at 5:04 and closed at 5:23 with a +380 USD gain…nice. I have already made may daily goal and will be ultra conservative trading today.

I am flat for the day with a gain of +213 USD scalping ES only. Today was my first day using the IB Book Trader in “Armed” mode for order entry instead of Bracket Trader or the IB Rapid Order Entry page. I am going to study the advanced features within Book Trader over the next few days. For those interested IB has a webinar on using TWS Book Trader:

https://interactivebrokers.webex.com/interactivebrokers/lsr.php?AT=pb&SP=EC&rID=26155092&rKey=DE45090009A6FA0A

I will soon be faced with having to purchase private health insurance for my entire family. I am in the process of research and will be posting links and information periodically. Here’s a few articles to start:

The COBRA Subsidy and who qualifies:

http://money.cnn.com/news/newsfeeds/articles/marketwire/0475582.htm

General Information:

http://www.smartmoney.com/spending/deals/buying-private-health-insurance-14819/

HSAs have been getting a lot of good press as of late. I will post additional information.

http://en.wikipedia.org/wiki/Health_savings_account

I finished Tuesday flat with a loss of -197. I scalped 300 shares of DZZ one time for +125 and scalped ES for a loss of -321.

I finished the day flat with a gain of +224. I scalped the ES a few times in the AM and we traded down to 752.5 at 1:18 PM. This corresponded to 1:11 TICK reading of a new all time daily low of -1319. Shortly thereafter I took a 200 share position of DZZ and closed later for 0.35 points. It can also bee seen on the charts below that we made the high of the day 778.75 a few minutes after seeing the new high TICK reading for the day of 1316.

In the afternoon I got the Think or Swim platform loaded and did some basic setup. I have already set up the custom Fibonacci retracements and basic charts. I plan on setting up the market internals and also market internals/market breadth spreadsheet over the weekend.

I finished Thursday flat with a loss of -176 USD.

I finished the paperwork for opening a Think or Swim account (TOS). They have a minimum 3500 USD to open and account. I am only opening an account with them to enable me to use their software. If it works as planned, I will be able to ditch my Esignal subscription and save the 175 USD per month. I will continue to use IB and MB Trading accounts to trade on.

The government is trying to change taxation on your futures transactions:

http://www.govtrack.us/congress/billtext.xpd?bill=h111-1068

Use this link to vote against the proposed bill:

http://www.rallycongress.com/no2tradertax/1536/tell-congres-to-block-trader-tax/

Reach out and let you Representatives/Senators know what you think!

It’s easy to do online:

Congressional Contact Info

This is the Official website of the United States Senate. When sending your message you will be asked to:

1.Select your home state under “Find Your Senators” and click “GO”

(top right corner of page).

2.Click on “Web form” link under Senator’s name.

3.Complete contact info section and write your message.

The Official website of the United States House of Representatives. Here, you can send a message using the web form for your specific Representative. All you need is your full 9-digit zip code which can be found on your drivers license, junk mail, or a utility bill. When sending your message you will be asked to:

A link to the web form for President Obama. Simply fill in your contact information and write your message.

I am flat after 11:30 today with a loss of -374 USD and did not trade anymore. I slightly went over my maximum loss for the day (300 USD). I can only attribute this loss primarily to 4 trades that I tried to open my stops out and also open target gains. I slipped out of my normal “scalper” mode. This happens every time I try and I will not do this anymore.

I am looking at a another way to post results and will update.

I am flat for the day with a gain of +435 USD scalping ES and not taking any new positions. I am trying to figure the best way to post my results as that’s what everyone wants to see. I am looking at a demo for journal software that integrates with IB when I get time. For now I will use screenshots. It appears though that IB screens differ in the fact the Account screen includes after hours trades from the previous day and I do not want to capture the Account screen that has private information. I will post a clip of the Account page along with the order page for now.

We have broken down out of the short term upward trend line at around 814. Support levels below will be around 805 (last Thursdays low was 805.5) and then 800 areas. There’s not much below that down to a retest of November’s low at 739.0.

I am flat with a gain of +194 USD scalping ES and not taking any new positions. Market closes early.

The Daily Pivot Monday is 826.5. If we were to break out upward I will be looking to short around 825.25 depending on afterhours trading. At the moment, my overall bias is downward.