Back To The Future

UPDATE 9:45am EDT: Interestingly, we are back to the future, meaning we’re right back in that channel we were painting last Friday:

Remember, the 812 region should hold, otherwise we’re probably looking at a lot more downside.

Orange is obviously out, which leaves us with either blue or green – pick your poison rats!

UPDATE 10:15am EDT: I would like to take this opportunity to clear something up that many of you rats seem to have misunderstood (based on various emails I’m getting):

evil.rat has nothing to do with the Zero indicator – nothing, nada, zilch, gar nichts. It does not use the Zero in any way and is based on a completely different set of indicators – remember that I am unable to implement the Zero on NinjaTrader until they release NT7 (for reasons I don’t want to get into). So, if you think that evil.rat is the lazy rat’s way of trading the Zero, then you are sadly mistaken. I might implement an alert system for the Zero in the future but it’ll probably be late summer or even fall before that happens.

You should not use evil.rat/NQ to trade the ES futures. I know how you cheap rats think – yes yes – LOL. But fact is that I am providing evil.rat/NQ as a mere courtesy to you inexperienced (or – ahem- capital challenged) futures traders as it only moves $20 per point while the ES moves $50 per point. The NQ naturally produces less profits than the ES, thus I made evil.rat/NQ a few bucks cheaper. But nonetheless the settings on those two versions are very different – for instance the stop is only 36 ticks, whereas it’s 46 ticks on the ES, and that’s only one of many settings. Of course I can’t keep you from doing stupid things (can I ever) but I hope that you’re not risking to lose hundreds or even thousands just to save 30 bucks a month 😉

Anyway, I got two annoying bugs to fix – wish me luck.