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Sustained Bull Move Coming Pretty Soon

Monday, July 19th, 2010

Today is Monday July 19th and we saw some pretty good moves today, on S&P but just consolidated after Fridays selloff.

The Dow Jones was up about 55 point, the NASDAQ up around 19 and the S&P futures flat. We moved sideways as the end result but had a nice sell off around 30 minutes after the open. I saw that one coming and picked up 3 points, 5.50 points and 8 points on the last part of my trade. Just the one trade for me today. I am trying to trade the early market hours and today was a good reward. I normally would have missed that move and had to come in scalping a bit here and there. The move I entered, looked like it had everything I wanted in a big move, and there you have it. I do like to scale out of trade often, but don’t do it every time. If you trade multiple contracts, scaling out, releases some of the pressure associated with having the trade on. It gives you stamina to stay with the rest of the trade, as it could jump up against you and take half of your gains back in a flash. Covering into weakness (short) is a way to lock in the profit at some of its better fills.

The downside is that you could have had more if in fact you waited, but I often would rather take a piece of move when I have the advantage, even if it keeps going. I was able to pick the bottom of the move as you can see in the screen shot. I always like it when a plan comes together. The market turned up just after my out and the last signal long was a sustained move. I likely would have skipped it, as the downtrend was looking pretty solid. More basing could have persuaded me to change my mind, but we did not get that and I was gone.

I have been looking for the market to get to 1050 and as low as 1040, but with today’s lows coming in at 1057, and seeing how things are shaping up on the charts, I would have to leave the possibility open that we have seen the low. I only say that, so as not to taken by surprise and see the market move up without me spotting the real sustained move. The confirmation will not happen until 1090 S&P, but after that price, you will start the beginning of a sustained bull move to the upside. It does not usually matter much for me to catch the bottom, as I am  just watching and identifying   the larger turning point in the market.

I see things that are saying, we could go up from here. To me, this is healthy, because, the worst thing a trader can do is have strong preconceived opinions of the market and loose your objectivity. If you only say, this market is going down, you will not see when it is going to turn and will not be able to trade it, even if everything says that this is a great long trade. Your mind is a powerful thing and is often the main reason why traders struggle much more than they have to. Making repeated mistakes and not being objective, is one of the worst things a trader can do for his confidence.

So, take each trade on its own merit. Tell your self to look at both sides of the market and don’t get fixed on any one idea or outcome. The chart will talk to you if you know the language.

If anyone has questions or needs a little advise off the record, just email me and I will do what I can for you. If you have a stock that you would like to see the turning points on, just let me know, and in what time frame you prefer to see it in, weekly, daily, hourly, 5 minutes, 1 minute, tick chart, volume chart, range chart, what ever you use. Also, if you want a free copy of my branded E-Book, “The Power of Concentration”. It is available for the asking. I won’t be pounding you in-box with this or that. Just trying to help. All I ask is that if you get the book and or anything else I might send you, to send me a reply letting me know that you received it and that’s it.

Enjoy the summer, and get some fresh air. Vince.

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The Trading Range is Set, Hold On

Wednesday, June 9th, 2010

Today is Wednesday, June 9th and the market is hoovering in a neutral stand, waiting upon its next move.

The general stock market moved higher only to be met with “Price Rejection”. That would be its inability to overcome overhead supply. It did make a run at it, of which I saw it coming. I also saw the the exact resistance area and started to lighten up as I came closer to my overall target area in today’s trading. I was looking at S&P 1075 as a destination point for the last rally. Once hit, the high was reached for the day and down she went for a -20 S&P point reversal,  closing -6 points on the S&P and -40 points on the Dow.

Well, the market held up over the last few days and that is a good thing. I don’t have a lot to say today, only that we will need to stay above the previous lows recently set to keep this rally alive. That low was established during yesterdays intra day bottom.

The market will turn very negative and continue its bearish move to much lower levels if yesterdays low gets taken out.  The downside line in the sand has been drawn. On the reverse side of that, given the fact that the market was able to rally off that very key support area, is saying there is a real good chance we could make it out of this, at least short term.

The sentiment numbers came out today, but I won’t know what they are until Thursday evening. I will update at that time.

To recap, I see big movement on the break of today’s high of 1077.25 and yesterdays low 1041. That gives us 36 S&P points to play with or 360 Dow points. I will be watching both of those numbers for an increase in trade volume and trade velocity.

Yesterday I posted a live video on U-Tube of the days action and is in the video gallery on my website. I will post a snap shot of the days results as well as today’s results below. Two real good days.

My first two trades today were for small losses on small size, then hit a nice small trade short and reversed my position at my original sell stop point, something I don’t usually do, and the market kept going where I added on for larger size, once the trade showed its real intentions.

The two charts are in my middle time frame and are exactly reflect the price action in relation to my smaller tick chart size. It is easier to post more bars and show more of the day this way.

Yesterdays trades, I  just started to take the small trades were I could. I think I took 3 or 4 one point trades until I saw a big move coming and got a little anxious and jumped the gun. You can clearly see based on the my custom trade indicators that I went in way early and was only asking for trouble. I did switch to my T-1 short term model for a tighter entry, but it did not help as the market was just not ready. I wanted to pull the cake out of the oven before it was cooked, not a good idea. As I state in my notes on the screen, I had the right idea but was early and a bit anxious. I hug in there and was not afraid to load up on what I originally saw and milked the trade for  about a 10 point S&P move. I followed it up for another little topper after that, a great day.

I have the trades marked up on both screens as to where the key turning points are and it is just awesome, as the turning points were crystal clear. You just need the courage to trade them and you will and would have been sitting pretty. I would bet in yesterdays market if I tried to trade the whole day, I could have gotten at least half of the 75-80 points the day showed in available points. That would be 35-40 points of profit in one days session.

It would take a lot out of me to keep up the concentration one would need to do that, but I can see it is possible. For every point in the S&P emini futures it represents $50 dollars. If you trade 3 contracts that is $150 dollars per point x that by 35-40 points and that is a little less than $ 6k in a single day only trading small size. I totally believe in a session like yesterday, that it could have done that. I just don’t want to work that hard, as it is possible I could loose concentration and make mistakes. It is safer to trade for a modest sum and move on.

Usually, I only trade for 2-4 points with an occasional windfall day, like yesterday. Today was somewhere in between, but would call it above average for sure. As I mentioned earlier, we can always make mistakes, not trade our plan and or method and let emotion take over. You can not expect to do your best if you get anxious. I have a tendency to come in a little early at times and those are the trades that I get stopped out. I and or we, need to remember to let the trade come to us. If you look at yesterdays trade chart below, you will see I totally jumped the gun. The trade indicators are there to help you not get out in front of yourself, to hold you back until you have the momentum on your side.

Entering to early most of the time is an emotional response of “fear of lost opportunity”. I have blogged about that before, but you can see a clear example of it in the chart. I can try and justify it any way I want, I blew it. I am not perfect and know that I can always do better.

Being a good trader is not about being perfect, that will never happen, but if you can keep your mistakes to a minimum and take advantage of the gift trades the market occasionally gives you, you can do well. Consider this motto on occasion as well.

Get in – Get out and – Be done.

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Fibonacci Level’s holding at 62%

Monday, May 3rd, 2010

Hello everyone, today is Monday May 3rd and the market has been moving.

We saw a very nice rally today on Wall Street with the index’s moving back up off there recent lows from last week. I think today’s rally surprised a lot of traders. They may have been thinking another big down day, following through from last weeks wipe out. The market rarely does what the majority expects it too.

I traded very little last week, as I made my way to the S.F. Bay area to visit family and friend amongst other things. I made up for any lost opportunities with Fridays and Today’s gains. I had a real smooth day on Friday with all gains. Took 5 trades with two scaled out trades. The market was moving pretty big on Friday and caught some nice moves. Today was the same, mostly all gains, 9 trades, eight profitable and I did catch the big move that took traders by surprise.

I have a equity chart of Fridays session below and today’s trades below as they were taken. I took a couple of counter trend trades in my scalp screen today, so it may not match up exactly with trade indicators, but most of them do as I was trading out of my T-2 screen as well. In addition, I don’t trade the indicators, I trade the price and the indicator follows.

If I think the market is going to be contained or choppy, I will trade for only small moves, 2,3,4,5 ticks or what ever I think I can get, but small bursts of movements. My risk is also contained to averaging a one to one ratio or better. If the market is not going my way and struggles or I feel I have lost the edge and or momentum, I will get out with a break even or small loss, one or two ticks, while I am trading with a safety net of 1 point or 4 ticks. If I am targeting 3 or 4 ticks on the S&P, which is 12.50 per tick x the number of contracts traded, 5, than each tick is $62.50 and it takes 4 ticks to make up one S&P point, so 4 ticks is equal to $250 dollars.   One point can be had in minutes or less.

Key area’s to watch are Fridays session lows and also Fridays session highs on the S&P futures, 1207 and 1182.  I feel that both of those numbers are very important to watch and should tell us more about the markets real intentions. We are in very tricky spot right here. The market looks like it is on the right side of the chart and that is why I am sure a lot of traders were thinking after a slight retracement of Fridays sell-off that the move would resume short. So, this market could be setting itself up for a pump and dump action for Wednesdays session or there could be some additional juice left in the glass for this market to move on. We are still at this 62% market retracement and the longer the market hangs out in this area, the bigger the move.

Its to bad, I wont see the new sentiment numbers on Wednesday morning as they are released. I wait until Thursday night and get the delayed readings. A lot could happen in Wednesday and Thursdays session, but I will be watching both of those numbers especially the lower one. If 1182 gets broken and soon there after another key number traders will be watching is 1177, I can only see lower prices from that point. Until then, it looks OK, but extreme caution is in order right now.

With today’s big move, I believe it will spur only additional optimism as that has been the trend over the last weeks. A rising level of exuberance is being displayed and more and more investors and traders too are feeling better about this market. That is when you need to be careful and at least be aware of the opposite taking place. That way you won’t get caught up in the excitement of a rising market. Last week we had some big sell-offs and even in the face of that sell off, the sentiment went slightly higher. If tomorrow session stays in the upper end of today’s trading range, that is going to have an effect on the professional news letter writers that forecast there opinions on Wednesdays market open.

We could see a spike to over 55% mark which is traditionally the trigger point for a market reversal. Currently we are at 53% and change and in position for this setup. So, you can’t say you didn’t know if it hits. The significance of the market making it all the way back up to this upper end retracement level is high, meaning highly significant. This too is a key area that traders look at and could in-fact be that Fibonacci retracement trigger point as we break the two numbers I mentioned above. Fibonacci numbers are nature rhythmic area’s that the market likes to move into as it makes it way onto higher and lower destinations. I can speak more of this another day soon.

I see the volatility increasing and that is a good thing for traders. When you see large market swings, that is a time to let your profits run. I teach and talk a lot about scalp trading, because that is what I do, but when you see market moves for extended points like on Friday and even today, I feel traders should have in there bag the ability to take advantage of that. You don’t have to trade that way every day, but if you train yourself to catch the large moves when they are happening  it can make up a lot of ground in a hurry for days you may not have traded and or making up for past losses.

The thing is don’t be enamored with the big moves all the time, it will cloud your judgment on other trades. The market only trends about 30% of the time with the other 70% confined to trading ranges etc. Keep that in mind and be careful, but do not trade in fear.

Good Trading to all.

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Shorting the Market with Confidence

Thursday, April 8th, 2010

Today is Wednesday, April 7th and the market finally got going today.

It was nice to see a bit of movement in the market today, signs of life, but to the downside. Many traders have a bias to the long side. It seems more natural to trade that way for many, but what do you do when you have days of downside action. In a bear market, you will only get occasional upside movement and possibly enough to get a modest goal, but the natural rhythm at those times are to the downside, short. Do you just stay out, because you have not trained your mind to handle the inverse relationship of going short?  It is true, most traders do find it easier to trade the  long side of the market, but are you willing to settle for a huge segment of the market to be taken away from you, because you have not found out a way to adjust yourself.

I think not. If you feel more comfortable trading long positions, that is fine, but I say, start to work on yourself to change that, even if you currently don’t trade it right now. It is all about getting comfortable with the process. If you start looking and thinking as you will need to, in order to see the setups and pick your entries, you can learn to trade short just the same as long.

If you decide to go short for fear of missing a big move and have not trained for it, you could be at a big disadvantage. Why would you want to do that. If it takes 6 months or even one year, before you put on a short position, you can little by little look for the opposite of what makes up your buy signals and orders.

This might go along with yesterdays tips on trading but in a different area. Its just what came to mind after seeing today’s drop.

I did trade the late afternoon session. I had my first trade short as a loss for 3 ticks as I was just coming in for the  session. I took a break right there and then, I missed the next leg down, but did happen to catch the last part of it, about 35 minutes later, +1.50 and +1.75 on larger size. In fact I doubled up for a big gain, no scaling. I got filled exactly on the bottom. A few minutes later I did go long for .75 point and then again had a few more winning trades. It was a good day for really only trading less than one hour. Today made up for no trading on Monday and Tuesday. I did post a U Tube video of the trades. You could see it through the video section of my website, top right hand corner if you want to or not.

I am taking a trip with my wife for the rest of the week. I don’t know that I will be trading, but I will play it by ear. I will probably post some comments in the evening about the day, so stay tuned. Tomorrow I will report on the Investor Intelligence Market Sentiment numbers. They were going up steadily over the last month and I would bet there was a good chance that it hit a bullish extreme on Tuesday. That is the day they take the weekly poll. I get the data two days late for free. Anyone interested in the checking for themselves can go to the resource page on my website and get the direct  link.  Non the less, I will report what it is in tomorrows post and give comments.

I don’t have my charts up right now, as I am writing this, but I remember, we were sitting on some key support, even though we were just at the years highs. The market would not be out of step if it pulled back from here. I will do a little more work on it for tomorrow and show what is going on in the daily charts, so we can get a sense of what to expect for the next week or two.  Do not let your guard down, you don’t want to get popped. Just a word of caution.

I will be back tomorrow, until then good trading.

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Near Perfect, in todays trading !

Tuesday, November 3rd, 2009

Today is Tuesday November 3rd and the Dow and S&P are holding on.

Well, thats what is going on, their just holding on, interesting little rhyme. The Dow was off 17 points but the S&P was up 2.50 points in the cash market. Looks like we had a divergence the other way today, that is good. The broader S&P market is much more important than basket of 30 stocks, the Dow, even if they are the biggest. The Dow is still in really good shape here, it is on solid support and holding. Any break of its newly established pivot low, will spell trouble.

Today I took a few nice trades and called it a day. I had 27 ticks of profit, counting both sides of the split trades and 2 ticks in loss. I found myself done in 45 minutes. The first 90 minutes of trading today, saw some really nice “Turning Points”, crystal clear as far as my method is concerned. The trades I took were also, very clear turning points for me and found it easy to pick up what I needed.

I did get overly anxious on one trade and jumped the gun. I felt I knew where prices were going to go and jumped in to soon. I did not wait for the right timing and it cost me, 2 ticks. That was my only loss and could have easily made that a 1 point gain instead. The good thing is, I did not hesitate once I saw what I did and elected to take a 2 tick loss, instead of 3 or 4.

I don’t have a whole lot more for now, I wrote a long article yesterday and need to lighten up a little today.

Below is a short video of the trades I took in todays market. I closed the last trade out “Live”

Until tomorrow,

http://www.screencast.com/t/2NHfxbPYTR8i

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Successful Day Trading Continues

Tuesday, April 14th, 2009

Today is Monday April 13th and I had a nice smooth day trading, although not feeling very well.

I took Thursday and Friday off last week and meant to post a note letting everyone know, but I forgot. Friday the markets were closed so not much happened anyway. I had a great Easter weekend with family and friends.

As the morning started, I was not feeling like myself today and considered not trading at all, but I gave myself a little extra time to see if I could handle putting on a few trades. I guess it turned out pretty good.

I was only going to make a few trades, get to one thousand dollars and stop. That would have been plenty good enough, but since I had not had a loss and it was coming to me pretty easily, I decided to stay with it for a while.

I really had patience to wait for the trade. I let a few go by but I took many trades for small profits, some for only 1/2 point. That was all the market was giving me, because the range was so small. I started in the slow time of day and had to wait out the trades, but there just was very little movement and it took a long time to develop, so I picked up whatever I could get safely on each turn. It added up just the same, like I have said before.

A little later, I had a nice 3 point + trade to tack on to what I had put together. All in all, I took 27 trades and they were all gains, with one trade at break even, for a $3,500 dollar day and I was not feeling well.  I should get sick more often -  just kidding.

It sure is nice to hit the trades for gains over and over again. It adds nicely to your confidence and will set you up for the rest of the week. You can be sure, I will not let my guard down.

We always need to respect the markets, like I have talked about so many times. Many traders will have their biggest losses right after they had their biggest gains. It’s all in the mind and how it processes the emotions of a big day. Settle down and take tomorrow just like you had no gains at all today. Each day needs to really stand on its own. It would be best for me to put this day out of my mind and prepare for a smooth day of profits tomorrow, with as little draw down as possible.

I am going to wrap it up a little early today and will have some kind of trading lesson for tomorrow’s blog.

http://www.screencast.com/t/NzOvJsRIydD Today’s equity chart

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Today’s Profits: Finished in 7 Minutes !

Thursday, March 26th, 2009

Today is Thursday March 26, and it was a quick day of trading.

Yesterday I had posted that I wanted to increase contract size and trade less. Well, I got my wish.

I was able to shift my thinking to attain my stated goal and it was nice. I had two trades, the first one for 1 point on 10 contracts, all in – all out. The second one was for 1 point on 5 contracts and 2 points on the other 5, and I was done.

This what I wanted to do as I wrote yesterday. $1,2oo profit after commission on two trades. Now I have the rest of the day to accomplish other things of interest. I would take every day in the same fashion, and will be working towards that end.

This was my original plan from the beginning and I will continue to work at it. Consistent daily profit is the objective, combined with the least amount of struggle to get there. Once you reach your daily goal, I will admit, it is and will be hard to stop trading. That is where you will also need a mentor, someone who is on the same desired path and can give you the support and discipline to stick to the plan.

Anyone who partners with me will have my full attention and support to help them see what I see and do what I do. It is hard to go it alone and you will most certainly pay your dues one way or another, but it would be my job to help make those dues as small as possible. There is usually no easy way around the fact that you will need help in trading consistently for daily profit. You will pay someone for the experience. Everyone does. You will pay the markets because of your losses and you may still not have learned how to trade consistently. Or you can pay someone who knows how to help you get there.

There are very few trading programs that are of any value and a lot of them are a waste of money. Many of them are focused only on indicators, or some other idea that puts you and your account at great risk before you are able to capture your occasional gain.

There are many ways to trade the markets and I believe that the way I approach day trading is one of the best available. When it comes to a choppy market, I love it. While others are just wishing for the day to be over. If we are seeing large swings up and down by several points, I love it. Because I can easily capture additional profits on extended moves. When the markets are showing long extended trending markets, no problem. We just look for low risk entry points along the way and pop in and out before anyone even spots us.

When you are able to trade the very small stuff, 3 or 4 ticks, you are able to take advantage of any kind of market, because you use the method to get you into a HIGH PERCENTAGE trade that gives you a pre-determined amount of profit. If you only need a couple of those trades for the day, it does not matter what kind of action the market is displaying.

In any of the three types of markets that I described above, you come out on top. There are many people out there that say scalping is the most difficult type of trading there is. In part, because they are not able to do it successfully, so they talk it down and people believe them. Then you look at the alternatives – trading a higher time frame chart, waiting hours for the right set up, risking 4 or 5 points on the trade, and then have it go against you for a loss. Now what do you do? You are running out of time before the day comes to a close and you want to be profitable for the day, so you take a less than desirable trade now for another loss and you are totally frustrated. Not a good day.

With my method, you will see plenty of trade possibilities in whatever type of action the market is displaying and have the ability to capture a nice trading profit each and every day the markets are open. That is the goal. Is it attainable? Yes.

If you have any questions, please email me and I will be glad to answer them for you. Have a great day.

 

http://www.screencast.com/t/gYuBtR2l              Today’s trades

http://www.screencast.com/t/GP2oGYTi            Today’s equity chart

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Quick Profits Today

Thursday, March 26th, 2009

Today is Wednesday March 25, and I am back.

I took a couple of days off to go to a conference on Monday and Tuesday and am glad to be back. The conference was not related to trading but of a personal interest.

I did not spend much time trading today, but that was just fine, since I was able to capture more than my daily goal for the day in less than 30 minutes. I was satisfied with my posted gains of just a little over $1,000 dollars. I had 6 gains with 1 loss to capture my total, with one of the trades having multiple exits. It was a very smooth 30 minutes, with little disruption.

I am going to increase my contract size tomorrow and make fewer trades, but capture increased profit. This is where you work less for more, but need to have good timing. So I may wait for higher probability setups, which will require a little more patience on my part. If you only have a few bullets, you need to hit your mark and make it stick.

If I traded 10 contracts and hit one trade for 1 point on 5 contracts and the other half for 2 points, that would be $ 250 dollars for the first and $500 for the second half – a total trade profit of $750, less commission. Then if I come back and hit 10 contracts for 1 point, all in-all out, for $500 more, that would be only two small trades for $1,250.

That could happen in 10 to 15 minutes. Why would you need to trade for more and create a possible struggle? It is nice to be able to do so, and I have been at it for sure, piling up much more profit than that in the course of a few hours. But some of those days were a struggle to get my equity up to higher levels. When you can trade in the 20 contract area and up, it sure adds up quickly when you are on the right side of the market. At that rate you double your profit to $2,500 dollars, and still you are only trading for the two – three point range.

The idea is to slowly build up and increase your contracts when you feel that you are ready. I have been at the 5 contract level or so for awhile and have the room to increase my contract size. We shall see, if I indeed do that tomorrow. Only time will tell.  

Below is an equity chart of the day’s profit. Until tomorrow, over and out.

http://www.screencast.com/t/6CL5zodFHWi                Today’s equity chart

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Market continues sell off & Nice smooth day of gains

Tuesday, February 24th, 2009

It is Monday February 23rd and the markets continue their sell off.

We did not get a bounce, but a sell off today. I checked the exact number on the S&P bottom of November and  I see that the market went right down to it, at 742, and stopped. The Dow continued it’s slide falling 250 point to 7,114. I may have been a day early, but I still think we are in for a bounce.

The whole economic picture is pretty bleak. It has been said that the more the government does, the worse things get. I would agree with that, but that is just my opinion. Actually, I take that back. The facts would say that this is true – so far.

I do not want to be a downer to my readers, but I have been ”Bearish” on the market for some time, as many of you know. I have been hoping the slide takes a break and gives us all a little more time to get things together. But again, the market does not listen me.

A while back I had posted on the daily chart of the S&P that this market needed to stay above the 800 level – or else. Well, it is looking like the or else is happening. The daily chart has been in a solid downtrend since the purple line of support was broken on a daily basis. It has been confirmed by the indicator as well and nothing at this time has changed. The Monthly is down, the Weekly is down, the Daily is down and even the Hourly is down. It has been that way for the last 5 days now.  That is what I had to tell myself in looking at the slide today. Everything is down, don’t fight the trend.

Below is a chart of the S&P cash and my equity chart for the day. This is the start of week #4 and I have been posting my equity gains and losses every day.  I have not posted a losing day as of yet, and I don’t plan on it, but it could happen. My daily loss limit is two times my daily goal of 2 pts per day, so that would be a total of -4 points. If I am trading 5 contracts, then that would be 1,000 before commission. As I said yesterday, I came up to that point only one time and was able to turn it around for several times positive daily goal. Most of the trading days have been met with 2, 3, 4 times daily goal and up, so overall, I am pleased with my performance.

http://www.screencast.com/t/B7sIbT9SjS7                          Some of today’s trades

http://www.screencast.com/t/mQP1X38U7s                        Today’s equity chart

http://www.screencast.com/t/tOxsYylTb                               S&P Daily chart

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Big Day of Profits

Saturday, February 21st, 2009

Friday, February 21st and all is well.

Today was a real good day in profits posted. Still, I could have done better. I had over a 2 to 1 profit ratio and my percentage was about 75 percent gains. I traded a little differently today. I was splitting my targets in 2 or 3 exits. Today I was going for extended gains. I got many of them for some nice profit in the afternoon session. The market again was moving nicely in the afternoon.

I have a  few screen shots below, one of the 233 tick and one of the 100 tick. I was taking most of the trades based on the entry of the 100. It looks like I entered a little early for that 9 point staggered gain on the 233 tick. I did not have too much heat against me, so I was able to stay in for a real nice gain. I just played the whole day a little different for some bigger trades especially in the afternoon. I thought we would have some extended plays, so I was ready. The screen shots are below. That’s it for now.

Vince

http://www.screencast.com/t/xmWeFqqLjN       Today’s equity graph

http://www.screencast.com/t/paRzngGDA         100 tick chart

http://www.screencast.com/t/Hh7nawn74        233 tick chart

http://www.screencast.com/t/1zrPzHdI65          233 tick chart

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