Trading ES (Q1 2004)

[china white]

CM - brilliant comment! just jokingly - r we all startin to call our systems and approaches "grails" after Raschke? she must've spread the buzzword - LOL

 

[hampy]

Slp, Not paid that much attention to volume as yet, but I note in particular how the high vol at 1100 est picked the low of the day so far.

CM, Thx for your comments, I shall not give up, and whilst I have been observing the market via D4F charts for a while, I'm only in my second week with a proper chart feed. I should have done it months ago, and considered the fees to be a cost of learning.

Have made one totally c**p trade today which I'll post later.

If there's anyone out there thinking of having a go with either China's or CM's system, one bit of advice I feel able to give at this early stage is get a live charting package and pay the money.
I felt that I couldn't justify this until I was trading for real, and already I know this is a mistake. When the experienced guys/gals post their end of day charts here, it all seems so obvious, but it's far more dificult in real time even if you do know the theory.

hampy

 

[hampy]

China, At the 1800 time pivot do you now consider this to be a trend up day?

Thx, hampy

 

[stoploss please]

Volume

Double topon lower volume. The ES MACD wants to break one way or the other.

 

[china white]

comp

3rd knock on 2045 - now really interesting

 

[stoploss please]

Knock three times on the window. Twice on the pipe. Who sang that and wasn't it crap. That's the 1970's for you.

 

[china white]

no hampy - dow/comp r both above 0.5 % and thez no 2:1 or more sort of thing

ndx is actually lagging spx. sox lagging comp, banks at par with spx

absolutely no-trend imo hampy. can u pls tell me why u thot it was a trend? i think it may actually be quite important

 

[stoploss please]

China

This may interest you

http://www.tradingacademy.com/lessons/lessons20040301.shtm

 

[hampy]

China, Have a US Market Watch window open in 1 corner showing change, and % change. I had seen all your points but didn't know whether, with all the indicies well into positive territory, you would class it as a trend up day, or whether you strictly needed the 2:1 or better.

hampy

 

[stoploss please]

China

Do us a favor later on when you get a chance post a chart on how you read that last high.

Cheers m8

 

[Skimbleshanks]

Note that we're now at the top of a five wave:

 

[china white]

matey - by the time of your post - I am assuming u r referring to 14:10 high.

ES making HH, tick making HH, macd of tick making at least EH (histogramme) or HH (signal). we travel further at higher speed with acceleration not going down I stayed long - well unless u go for quick 16 teenies' scalp - thez another leg up coming.

 

[china white]

market watch

hampy this is what i look at like a hungry hawk :cheesy:

 

[Skimbleshanks]

China, you may be right as there was no lower low on the 10 min chart I posted above, but we've now had one, so all we need is a higher high, and off we go again.

 

[china white]

stoploss - many thx for the link - but honestly no it does not interest me.

when u c "lessons from the pros" followed by "subscribe" - my advice - close the window by all chances it is some analyst or quant who was laid off from his/her bank/fund in 2001-02 willing to make some ducats posting charts. I can post 100 charts like that free - but I do appreciate other ppl's time so Iam not posting it.

 

[Skimbleshanks]

This is what I use:

 

[china white]

btw - this securities brokers index addition - is quite recent - an idea of my trading partner and personal mate. he reckons that XBD may be an even better secondary cross on SPX when u look for the leading sector than banks. my first test was checking betas - it confirmed that XBD had a higher beta to SPX than both banks. Raw material - we r still looking into it. Any inputs will be appreciated.

 

[china white]

sox

may be mega important.

sox knocking at 514 level 3rd time which "accidentally" hap's to be 50% fib. IMO either way we r in for a real big move in the mrkt:

 

[china white]

2 off-topic comments - hope u'll excuse me - we all need a laugh on Monday night

1) regarding the "holy grail". do u know that Hitler actually sent an SS team to look for the holy grail to the Alps where it had been apparently hidden by "Tamplieri" - who were wiped off by the Roman Catholic Church in the 12th century? I personally heard from some grandkids of the krauts who fled to Chile, Brasil and Argentina in 1945 - that thez a persistent rumour that they actually found it - and then the whole SS team (along with the holy grail of coz ) misteriously disappered. A joke - probably yes - amazingly tho there was a case at Nurnberg war crime trial regarding that SS team - nothing was proved, noone was found.....

2) I jus realised 2 things: i am now a "veteran member" and my avatar looks suspiciously like my Brasilian g/f. what the fcuk is going on? i am not even 35 to be a veteran firstly, secondly who made that avatar????

 

[sandpiper]

china,

It ocurred to me a while back that if MER (which I had been watching for sometime anyhow) is valid as part of Mohan's high5 then why would not XBD be a broader, more applicable index to follow?

Haven't had time to check it out thoroughly (MER certainly has it's merits though) 'cos having read back through all of Skim's posts I have been intrigued/inspired enough to really try and get to grips with ES volume again after many years of igoring all but the "spikey bits".

pesky wabbit...