Indicators are liars! Support and Resistance Trading for the S&P emini

[aamarx]

Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all

 

[aamarx]

Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all

 

[aamarx]

Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade

 

[aamarx]

Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all

 

[aamarx]

Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all

 

[aamarx]

Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all

 

[2George]

I have admiration for your consistency in posting. I know you have no faith in indicators but I give you my 100% assurance that if you get the correct sequence of indicators on a chart then they can, and do, forecast the future.
Divergence is the most powerful tool available to traders but it must be fully understood and used in association with trendlines and support and resistance before effective control over the charts.
I have attached the 1hr chart of the S&P cash chart and will send the 15m chart in the next post.
I urge you strongly to look at divergence as an early warning, but unless you use daily charts, do not use the standard settings on any oscillator.
Good luck,
George

 

[2George]

Here is the 15m timeframe of the S&P cash chart.
Good luck.
George

 

[aamarx]

Hi George

Thanks for your message. Divergence is a great tool. Indicators are fine if they are not overused. I often observe divergence on the tick with my current style, in the past Stochastics was my favourite indicator, I traded divergences all day long. In my trading journey I have learnt the hard way that simplicity is the key to success (my success anyways). The bottom line is are you making money consistently? If your answer to that is yes, then it doesnt matter if you are trading using your horoscope! There is no right or wrong way, only YOUR way.

 

[2George]

There is a wrong way - if you are guessing and winning.
George

Hi George

Thanks for your message. Divergence is a great tool. Indicators are fine if they are not overused. I often observe divergence on the tick with my current style, in the past Stochastics was my favourite indicator, I traded divergences all day long. In my trading journey I have learnt the hard way that simplicity is the key to success (my success anyways). The bottom line is are you making money consistently? If your answer to that is yes, then it doesnt matter if you are trading using your horoscope! There is no right or wrong way, only YOUR way.

 

[aamarx]

Ha ha funny you say that. A friend of mine dissilusioned with losses made by people managing his money decided to have a go himself (hes very well off). Having read a tongue in cheek article about monkeys throwing darts at the stock listings and making more than professionals. He got a copy of the FT share listings put it up on the wall, and threw darts at it. I think he bought a different stock every 2 weeks and held each for a year. he made 23% that year on his money.

Now im not advocating that AT ALL, but it is interesting.

There is a wrong way - if you are guessing and winning.
George

 

[2George]

He was lucky. My professional point is that that using divergence correctly brings huge benefits. It takes months to learn about it and even more months to practises it properly. I used to used Stochs also till I found something better.
If your friend had used a specialist chartist he would have made much more, and safely.
George

Ha ha funny you say that. A friend of mine dissilusioned with losses made by people managing his money decided to have a go himself (hes very well off). Having read a tongue in cheek article about monkeys throwing darts at the stock listings and making more than professionals. He got a copy of the FT share listings put it up on the wall, and threw darts at it. I think he bought a different stock every 2 weeks and held each for a year. he made 23% that year on his money.

Now im not advocating that AT ALL, but it is interesting.

 

[aamarx]

Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all

 

[aamarx]

Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all

 

[aamarx]

Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all

 

[rathcoole_exile]

experiment

hi mate, remember I mentioned to you I was experimenting with VAH & VAL as inputs for Pivot Points rather than the session's actual high and low ?
(basing my theory on the Market Profile concept of where the Volume traded)
Seems to be working out quite interestingly, take a look at yesterday's action:

r_e

 

[aamarx]

Yes it has been very interesting. I have been experimenting with it also, Our numbers are identical, except I think you have the midpoints points also?

I will continue to test

hi mate, remember I mentioned to you I was experimenting with VAH & VAL as inputs for Pivot Points rather than the session's actual high and low ?
(basing my theory on the Market Profile concept of where the Volume traded)
Seems to be working out quite interestingly, take a look at yesterday's action:

r_e

 

[rathcoole_exile]

yep using mid points, using the same VAH/VAL to generate the Central Pivot number

I use the mid points as reversal triggers and the R1 & S1 as breakout/down triggers


however, as with my main thread ("ES Tonight"), I still can't make up my mind to go with which Equation - sometimes traditional FTP works well, other times Cams work better, other times, DeM are the best.
At the moment I trade all 3 set-ups even when they contradict each other.
I just wish I could settle on one calculation !

and now I'm experimenting with new input figures, the VAH/VAL, so I'm going crazy with 6 sets of triggers.

Does this mean that the approach is fundamentally flawed, that it's bollox because one set never achieves supremacy over another ? or does it mean I'll either just have to accept fewer signals by just using one set of equations, or continue to juggle using 3 sets of equations ?

 

[aamarx]

That is why my friend I only use the pivots for confluence.

My set ups are based principally upon S/R levels, I use the pivots only to confirm the strength of a level.

yep using mid points, using the same VAH/VAL to generate the Central Pivot number

I use the mid points as reversal triggers and the R1 & S1 as breakout/down triggers


however, as with my main thread ("ES Tonight"), I still can't make up my mind to go with which Equation - sometimes traditional FTP works well, other times Cams work better, other times, DeM are the best.
At the moment I trade all 3 set-ups even when they contradict each other.
I just wish I could settle on one calculation !

and now I'm experimenting with new input figures, the VAH/VAL, so I'm going crazy with 6 sets of triggers.

Does this mean that the approach is fundamentally flawed, that it's bollox because one set never achieves supremacy over another ? or does it mean I'll either just have to accept fewer signals by just using one set of equations, or continue to juggle using 3 sets of equations ?

 

[aamarx]

Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all