Out of intrest who do you guys use for trading the es?
.................A lot of people say it's supply and demand driving the markets and in my opnion, that's a sort of half-truth...........
DT and I are direct access via a brokerage. I'm with Velocity and I think DT uses IB but wouldn't bet my house on it.
Here is my take on the 1 hour FWIW
Nice one, toastie.
May be a sort of half truth, but what you have described is the basic supply and demand graph. If you think of "quantity" as 100 traders (0 to 100 on the bottom axis) in the thumbnail and the red line representing sellers and the blue line buyers, then at the mid point of price (your value area) 50 want to buy and 50 want to sell. Draw the line from elsewhere on the price axis and that'll give you the number of buyers and sellers (%age) at that price.
Just a shame that the market is not usually so mathematically pure
jon
sigh....
Sigh? Oh, I'm all wrong then?
Well - since you ask...
You started off by saying that what I am really describing is something I actually disagree with.
Futures markets are a mechanism for mathing buyers and sellers of contracts. No trade takes place without a buyer and a seller. The item being traded is a contract and the contracts get created as required. The supply of the item being traded is infinite.
Now - if you put bananas in there, then I would say your graph has merit. In the Financial markets, I think that the model has little merit and is ABSOLUTELY NOT what I was discussing in any way, shape or form.
Of course, perhaps you could go into more detail about what I really meant...
..............Of course, perhaps you could go into more detail about what I really meant... ...............
Why? If you have time to explain.
DT and I are direct access via a brokerage. I'm with Velocity and I think DT uses IB but wouldn't bet my house on it.
I like to keep it simple. Having tried and paid out for neural nets etc without much success the simple trend lines of support/resistance seem to be as good as anything and for free !
OK C_V - is that good enough for you?
In @ 1312.75
T1 - 1311.75
T2 - 1309
T3 - 1303.75
Stop now @ 1312. Left a "Close @ Time" command on to close this if it's still open 5 mins before the close. I hope they fixed the bug where it closes out every position on your account.
Interesting how that bounced off the intraday LVN there (red arrow).
One day I'll find a single charting package that can show me what I want on one chart...
Tomorrow - back to scalping. None of this nonsense.
I'm off to bed - 11:15 here & up at 7:00 to shower Zoe.
G/L