counter_violent
Legendary member
- Messages
- 12,669
- Likes
- 3,787
mmm and to think we are only part way into October !!
Minder said:US indices well down again today.
How concerning is the corresponding fall in the dollar and the lack of a flight to value in treasuries ?
In the face of this difficulty for the indices there is the continuing rhetoric from the Fed re inflationary worries.
Significant ?
kriesau said:I don't buy this at all - by the time you see the bus coming it's usually already too late and you've missed it ! This is knee-jerk trading. Also it represents almost instantaneous interpretation of what you see which can and does change from minute to minute.
Another method of TWYS is to have a plan. If the Index moves up/down and crosses this threshhold then I'll go long/short either with a target of x or with a trailing stop of y away from the actual price.
.
Racer said:only because the big money has taken its time to move out first!
This cannot be described as Trading What I See. This is Trading Based Upon My Interpretation Of Price Action which in turn uses indicators or signals to determine direction.leovirgo said:We're talking about the same thing. Please read my earlier posting. TWIS is I trade what I see. Now I've seen a beautiful down trend, confirmed by price for at least three key levels.
TWIS did not go short above 10520. Entered short below 10520, more than 250 points in the ride! Had the price broke out abover 10575, TWIS was happy to go long. TWIS is all about flexibility and trend following. Besides, TWIS is not TWYS because I can't see what you see. Price is the absolute indicator.
kriesau said:This cannot be described as Trading What I See. This is Trading Based Upon My Interpretation Of Price Action which in turn uses indicators or signals to determine direction.
I use support and resistance levels linked to other technical signals to interpret market direction. So, for example, I went short at 10495, 10449 and 10250. I closed my 10495 short at 10330 for 165pts, my 10449 short is still open and I was stopped out on my 10270 short by last nights late rally which cost me 32pts.
I am trading based upon my interpretation of various technical and fundamental trends and signals and so are you. We are probably using a different mix of indicators/signals and therefore our conclusions will probably vary. However TWIS is a misnomer - it is trading what you interpret not what you see.
karmit said:so how's it looking today? - looks stuck to me at the moment
hmm.. being a friday ppl might be inclined to sell-off late?
karmit said:so how's it looking today? - looks stuck to me at the moment
hmm.. being a friday ppl might be inclined to sell-off late?
Dont forget oilleovirgo said:Katrina hit the US coast on 29 August. Yet DOW went up to 10700 in early September from the lows of 10350.
Fed raised rate on 22 September. Yet DOW went up to 10600 from the lows of 10350.
All those timebombs exploded this week..yesterday it touched 10225. Yet ....DOW will go up to -____________?????
Do youleovirgo said:Any idea for this week?
leovirgo said:Any idea for this week?
I have just spotted your post. You are quite correct in what you say. I agree with you.leovirgo said:We're talking about the same thing. Please read my earlier posting. TWIS is I trade what I see. Now I've seen a beautiful down trend, confirmed by price for at least three key levels.
TWIS did not go short above 10520. Entered short below 10520, more than 250 points in the ride! Had the price broke out abover 10575, TWIS was happy to go long. TWIS is all about flexibility and trend following. Besides, TWIS is not TWYS because I can't see what you see. Price is the absolute indicator.
Current range seems to be circa 10260 - 10350.leovirgo said:Any idea for this week?
Thank you for your concern.aspex said:SOC,
A great mind should never fascinated by the vagaries of the indefinable.
But then you know that already.
May I as one of lesser wisdom suggest that the level is most unlikely to stay the same. It may well rise and it may well fall. Possibly even a speed wobble.
Hope this helps you with your dilemma.