Trading the ES (E mini S&P) November 2003

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gmca686,

OK, thanks for that. Must be somebody else I was thinking of.

Well, you are not on your own. Lots of traders use 9/34 ema. Seems a particularly popular combination.

Hey, while you are here... a bit off topic, but, if you don't mind me asking... you still using ProQuote?

What is the EUREX, LIFFE, LSE data like? Every other quote vendor I try either LIFFE data or LSE data or both are pants.

Any insight you can give on ProQuote would be good as it's one a may have to look at sooner rather than later.

Cheers.
 
Sandpiper,
LIFFE and I think EUREX are extra cost items which I don't subscribe to. I get LSE level 2 data. I am very happy with them. Data feed is very reliable. I have complained about their charting, which if you go above 1 day, the minimum is 1 month at daily intervals. eg you cannot have a weekly chart at hourly intervals. However, the charting offers linear regression with standard deviations which panders to my statistical mind.
I'd score them at 9 out of 10.

They do offer free trials, so have a go.
 
Sandpiper
I have to say I found your previous post with regard to futures and cash extremely interesting and to me it makes a huge amount of sense. I've been reading this thread intently and find all the info on Tick/Prem etc great. I am currently trading the Dow using patterns and S/R, but feel that at some point I will move to the ES which I hope to trade using price action supported by a few of the indicators mentioned before.
I've looked back through all of these threads and found Skimbleshanks' comments on PA of great benefit, actually miss her commentary but I guess there may be too many squiggly lines about at the moment!? If anyone can point me to some reading material on PA I'd be really grateful. I'm in the Stoploss school of learn something new every day!
Keep up the great work all.
Cheers
Quercus
 
Quercus

Sorry, I'm back, I can't sleep. Too busy righting out a job application.

Have you had a look at the trading with out indicators thread.
 
Hi Stoploss
Yes I have and will continue to re-read that and other threads. I was wondering if there was any general reading material on the process/technique or maybe some other web-sites that others may know of.
Cheers
Quercus
 
Quercus

As long as you understand your price patterns I suppose the next issue is where you make the entry. The main thing I learnt from Skimmy was to look for H&S and double tops and bottoms and S&R. A good excerise is to let your software package give you the last two days highs and lows. You will be surprised how effective they are. What I have found recently, (sorry Skim), is that if your support or resistance levels coincide with a pivot point calculations that is even stronger.

Hope that helps
And
 
Not sure what you mean in terms of price patterns, perhaps that's what I need to work on - ie LH,HL and all that jazz. If you mean triangles, flags etc, H+S etc, I'm quite happy with these. I agree with what you said about PP's coinciding with previous highs and lows or even S/R levels - these give strong messages!
Picking the entry with regard to PRICE ACTION is really what I want to work on!
Cheers
Quercus
 
Quercus

A really easy exercise is to mark your chart during the day HH, HL, LH, LL and look for the picture to develop. If you have a series of of HHs and HLs and suddenly a LL, watch out for that LH. There you have it a H&S and you enter short on the right shoulder.

I actually think identifying the patterns is easy however knowing that they are going to break in the direction you want is the hard bit. I have probably said this before, Skim has a rare talent for just reading price and volume. I am not sure I will ever get to that stage which is why I am now looking at the internals in the hope it is of benifit in the area of trade entry.

Andy
 
Stoploss
Thanks for that I'll be doing that from now on and see where it leads me!
Cheers
Quercus
 
Quercus,

fully agree with Stoploss. I think it's imperative u hv 1-min, 5-min (my main time frame) and 30 or 60-min running on yr radars. Also I wud suggest hvng ES, SP Cash and NDX or Comp running simultaneously - at the very least. I personally also watch Dow, Rus2K, SOX and BIX. Nasdaq is important as a "head's up" leading indicator - even if u don't trade NQs, whilst SOX and BIX r leaders on their respective exchanges.
 
You must be an insomniac! Or maybe you trade the asian mkts? At least I've an excuse for being up at this time - it's 4pm down here!:LOL:
Thanks for all those comments. I currently watch the $INDU in all those time frames and also the ES and YM. I'll look at the others later. Been watching the Tick for Dow but probably a waste of time due to small number of stocks - will change this to S&P Tick. Am I right in thinking the SOX and BIX are stock codes? Looks like I might need another screen!!!
Cheers
Q
 
SOX and BIX r untradable cash semiconductors and bank indices which r closely watched since they lead Nasdaq and SP500 respectively.

I am currently in Baja California, Mexico so..... I am not exactly that :)
 
PREM

Sand

Well I slept ed on it as I find this helps me collate, sort and file all the info you kindly gave to me yesterday.

In a way, we have another divergence indicator here with fair value being our line in the sand, the move in the S&P giving us direction and the position of the PREM in relation to far value informing us of the strength of the move in the cash.

I want to summarise your points as this also helps me put in to order what is happening here. Sorry if I am duplicating what has already been said.

1. Bullish S&P and Perm below or at FV.
Cash led move, therefore a strong move.
Watch out for sell programmes (sell cash buy futures), however, these may be areas to enter new longs if this move is strong.

2. Bullish S&P and PERM above FV.
Futures led move therefore weak.
Watch out for buy programmes (Buy cash sell futures), especially
at resistance as this is where the market can turn around.

3. Bearish S&P and and PERM above FV.
Cash led move therefore strong.
Watch out for buy programmes (buy cash sell futures), however, these maybe areas to enter new shorts on a strong move.

4. Bearish S&P and PERM below FV.
Futures led move therefore weak.
Watch out for sell programmes (sell cash buy futures), especially at support as this is were the market can turn around.

One silly thing I am getting confused with are some definitions. The cash is the S&P basket and the futures is the Emini. The reason why I say this is for instance on a bullish S&P and PERM below fair value, after the sell programme has done its business, I will be jumping into strong NYSE equities.

Cheers
Andy
 
Mohan Method

If you're interested there is a Mohan Thread on Tactical Trader every day, with both experienced and new Mohanner's exchanging ideas. It' s been running a few weeks and the idea seems to be to take max 1 trade per day and try to capture the bigger moves. Target is usually 8 full S+P points.
They seem to have been doing pretty well, and it's a good insight into a trading system in action. Worth a quick look.
cheers,
hampy
 
hampy,

Thanks for the heads up.

Stoploss,

Good summary. Yes, Cash is the S&P 500 (SPX). And futures is the e-mini. Although, remember that your E-Signal PREM is probably the difference between the SPX and the large contract.
It's worth remembering this because quotes for both symbols are somewhat "delayed". That's why it's impractical (imo) to consider using prem as a leading indicator.

Don't know where you are coming from with the last point. You need to expand a bit.
 
Sand

The Cash is made up of its constituent equities that reside on the NYSE. On an up day, some equities will perform better then others. Therefore if on an uptrend, a bull flag starts to form, the strong equities will fall at a lower rate in comparison to the cash basket and the weaker equities will fall at a higher rate then the cash basket. Therefore, on the upside break out of this flag after the sell programme has been initiated, you would purchase the stronger equities as they will experience a stronger bullish move.

I think that is what I mean. Also glad I have nailed the PREM. It took enough time, Getting stupid in my old age.

China

We need to talk, getting confused again about your Tick.

Speak laters. Out to lunch.

Cheers
Andy
 
Stoploss,

Oh OK. I see now. Never thought about the equity trading aspect in truth. But I guess you are right.
 
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