LIVE TRADING WITH GREY1 26th SEP 2008

Perhaps I can make a recording of it and have Paul review/critique it. If it checks out, then I can make it available for download.

Here's a few reasons why I'm doing this:
1. To see if I'm using it correctly (I believe I am)
2. To make it available to users here in TT so that we can avoid questions on the N-Min's usage in the future.

This is if Paul is okay with taking some time to download and watch the video and critique it.

-E
 
lote_tree said:
Just thought I'd post what I saw yetserday after the seminar and wondered whether anyone caught a long trade based on cycle analysis.

Pic 1 represents all the lower times frames oversold at around 5:25pm GMT. Both 30min & 60min are pointing up, (all arrows are pointing at the 5:25pm mark). The only glitches for this trade might have been the fact that the 10min points down and the 30min is near the overbought point. However the 60min has alot of juice left in it for the upside and a speculative long position with lower position size might have been an option. Notice our exhaustion candle a few bars later on the 1min, interesting no? 🙂

Pic 2: As I trade futures I thought I'd include a chart of the ES contract for fellow futures traders. Again the red arrow points to the 5:25pm point. What's important here is the huge down bar. I think I second what Iraj said about put your position on and just walk away. If you get stopped out you get stopped out but at least you will give yourself every chance of letting your positions run.

This cycle analysis stuff is very appealing 😀
Click to expand...

Hi lote_tree

Nice charts. I listen to market internals to contain this rodeo bull INDU. On 30th Sep, it was a Market Power buy for me when market breadth and volumes were bullish. So I just bought it with 5minute cycle oversold. simple!
 

Attachments

  • 080930 INDU.jpg
    080930 INDU.jpg
    144 KB · Views: 46
Leovirgo,

You got a great style there matey. I don’t have market breadth on my charting package as far as I’m aware. I mainly stick to implied volatility bands on the cash index to give me an indication of possible inflection points.

Yesterday was again very interesting. All arrows on the Macci's point to the 4:50pm mark. I was waiting most of the day for an opportunity to go short. This is a reverse situation of what I posted before. 30min and 60min pointing down this time with the 10min pointing up. Again the only glitch in this trade was the 30min at the OS point and the 10min pointing up. However the 60min still had room left to the down side. Entering with a smallish position size and keeping an eye on the 10min would have been appropriate here IMHO.

The ES chart shows why it’s best not to be aggressive with trades like this if you’re trading futures. You don’t have the luxury of stock resistance if the market doesn’t go your way initially.

I’m personally going to be waiting for the perfect set up to arrive from now on (all major TF's completely OB or OS). It’s nearly here with all the big TF's near to being completely OS on INDU. However with all the news coming out today I think a technical day may be out the window. Weak Nonfarm payrolls data may pull prices down and prompt all Macci TF’s to go into OS territory when the market opens.

The weak data together with aggressive downside price action may prompt anybody in the senate sitting on the fence to swing towards passing the bill out of fear for the U.S economy. Then we may see a push to the upside in prices with all TF’s behind us. I’m bullish and want to be aggressive with longs but I think there may be too much risk involved for my liking today. It all hinges on the market reaction to the data IMHO.

Good trading for today everyone.

👍
 

Attachments

  • Yesterday's Macci Set up.jpg
    Yesterday's Macci Set up.jpg
    309.3 KB · Views: 39
  • ES Chart.jpg
    ES Chart.jpg
    200.7 KB · Views: 26
lote_tree said:
Leovirgo,

You got a great style there matey. I don’t have market breadth on my charting package as far as I’m aware. I mainly stick to implied volatility bands on the cash index to give me an indication of possible inflection points.

Yesterday was again very interesting. All arrows on the Macci's point to the 4:50pm mark. I was waiting most of the day for an opportunity to go short. This is a reverse situation of what I posted before. 30min and 60min pointing down this time with the 10min pointing up. Again the only glitch in this trade was the 30min at the OS point and the 10min pointing up. However the 60min still had room left to the down side. Entering with a smallish position size and keeping an eye on the 10min would have been appropriate here IMHO.

The ES chart shows why it’s best not to be aggressive with trades like this if you’re trading futures. You don’t have the luxury of stock resistance if the market doesn’t go your way initially.

I’m personally going to be waiting for the perfect set up to arrive from now on (all major TF's completely OB or OS). It’s nearly here with all the big TF's near to being completely OS on INDU. However with all the news coming out today I think a technical day may be out the window. Weak Nonfarm payrolls data may pull prices down and prompt all Macci TF’s to go into OS territory when the market opens.

The weak data together with aggressive downside price action may prompt anybody in the senate sitting on the fence to swing towards passing the bill out of fear for the U.S economy. Then we may see a push to the upside in prices with all TF’s behind us. I’m bullish and want to be aggressive with longs but I think there may be too much risk involved for my liking today. It all hinges on the market reaction to the data IMHO.

Good trading for today everyone.

👍
Click to expand...

Try $ADD it is available in tradstation and see if you think it is useful. Be careful with all TF OS, OB. In my experience, if 1,3,5,10,30, 60 are all OB, it is best to enter reversal trade when 10 is OB again (middle TF), while 60 (highest TF) is not OB anymore. In that sense, you can use 10m position sizing. Otherwise we need smaller size based on 60m ATR volatility. best,..
 
leovirgo said:
Try $ADD it is available in tradstation and see if you think it is useful. Be careful with all TF OS, OB. In my experience, if 1,3,5,10,30, 60 are all OB, it is best to enter reversal trade when 10 is OB again (middle TF), while 60 (highest TF) is not OB anymore. In that sense, you can use 10m position sizing. Otherwise we need smaller size based on 60m ATR volatility. best,..
Click to expand...


Cheers Leo that makese alot of sense. I'm actually looking to integrate the Macci OB/OS in all TF's in conjunction with my position trading strategy. Basically I'll be looking for momentum to stall in the opposite direction to where I want to be positioned. I'll then be looking for the Macci to be OB/OS in all time TF's at the intra-day level (the day my position trade set up beeps a buy/sell signal). I can then put on 3 or 4 times the position size compared to if I was position sizing at the daily level. I would obviously be taking quick profits to offset my risk for the position trade if the trade goes my way.

I've been looking for a strategy to give me a cleaner and more refined entry for my position trades. Iraj's work seems to be helping me alot with this. The only problem I foresee is the opportunity cost factor. I may have a brilliant set up for my position trade but if the Macci's are not "perfectly" aligned on the day I need to take the trade then I risk losing out on the trade if I'm too stringent. I will go into my Lab and experiment until I find that sweet spot. The Surgeon is at work 🙂

Peace.......
 
Last edited:
jondowns1259 said:
Imran, I'm being told that the files are corrupt. I'm using winrar -- any help would be appreciated.
Click to expand...

I just downloaded the files and did an checksum check and the files are fine. They also extract fine. I can't really do much more.
Also I explicitly said to open '26-09-2008_Grey1-Seminar.part1.rar' and extract from that archive. Did you follow this instruction? If you try to open the other files you may get an error. What version of Winrar are you using? I am using 3.71.
 
Restarted the computer and downloaded again. Everything works fine now.

Great post, it's really great being able to watch the whole day -- I didn't make it to that one!

Thanks again,
Jonathan.
 
You must log in or register to reply here.

Similar threads

Grey1
Live Trading With Grey1 ( Advanced Strategies) 24 Oct 2008
2 3 4
Replies
62
Views
4K
Tantalus
T
Grey1
  • Locked
LIVE TRADING with GREY1 ( EVERY DAY )
3 4 5
Replies
88
Views
7K
Grey1
Grey1
Grey1
Live Trading With Grey1 ( Monthly Members Only )
4 5 6
Replies
116
Views
7K
ely37
E
S
Meeting nr Basingstoke Wed 26th May 04
Replies
6
Views
2K
Scripophilist
S
J
live real time trading with grey1
2
Replies
27
Views
10K
gulam
gulam
Back
Top