With the help of Grey1

[fibbo]

Hi Steve,

Once again very insightful post.

Think Grey1 has chosen very well - in coaching yourself. You're giving us mere mortals an extra dimension with these postings and they are very much appreciated.

Thank you for your time.

Frank.

Hi Frank

Thats very kind of you to say so. Grey1 wanted me to confey my experences as best as i could so other people in our position would also learn as i was learning and to tell the truth i have found it more difficult than i thought it would be, but putting into words what i am learning means i have to learn and i have to understand and that is benifitting me enormously and i am real glad it is helping others, like your self.
Thanks again...Steve

 

[garethb]

Apologies to all those waiting for the paltalk recoeding. I sent an email circulating it to about a dozen people on Friday morning but I now find it is still sitting in my outbox not having proceeded to the sent items folder. Outlook meanwhile says "preparing to send receive". I'm looking into it.

Gareth

 

[evostik]

Daily Divergence & Exhaustion

Hi all.

While I am trying to build confidence and learning how to use some of the tools and teachings that Grey1 (and Fibbo now) has kindly shared with us, I would find it really helpful if a couple or a few members wouldn't mind taking a quick look at my screenshot of the Daily Divergence and Daily Exhaustion results that I am getting this morning and commenting on how they stack up with their own readings. Perhaps a number of other people would find this helpful too?

Many Thanks in Advance,

Steve

 

[garethb]

Guys, my Outlook now has serious constipation so no e-mails I'm afraid. I have managed to get the paltalk recording into a small mp3 file but have had to drop the bit rate quie low. Hopefully it is useable, if not I can probably chop it up into shorter chunks and post them separately. Let me know how you get on

Regards

Gareth

 

[evostik]

Guys, my Outlook now has serious constipation so no e-mails I'm afraid. I have managed to get the paltalk recording into a small mp3 file but have had to drop the bit rate quie low. Hopefully it is useable, if not I can probably chop it up into shorter chunks and post them separately. Let me know how you get on

Regards

Gareth

Gareth

You are a STAR. You would be a SUPER-STAR if you could get it any louder but its still megga appreciated. Thank you.

Cheers

Steve

 

[moreagr]

Gareth

You are a STAR. You would be a SUPER-STAR if you could get it any louder but its still megga appreciated. Thank you.

Cheers

Steve

Many Thanks for this Gareth!!

 

[fibbo]

Hi all
Yes i traded with Iraj yesterday afternoon and he helped me make it 5 for 6 but more importantly i am learning more each day.
One thing that i am having difficulty with is taking a new trade when the stock has already run a bit, this is somthing i am working on and my intention is to show some exaples when i can.
I have been very busy lately, one of the things being getting my new PC set up, which is up and running now although i still dont have the EE working properly i hope to sort that out today.
i have attached a "cheat sheet" for trading Stratagy 2 if it is of use to anybody please use it and maybe the more experenced of you out there can add to it.

Regards Steve

 

[kako]

Hi fibbo

thnx for the word document, i have a ques tho. does the 50 and -50 figures are MACCI readings of Dow? what is the guage to determine wheter mkt is strong or not, i guess the MACCI(daily) of INDU, right? if i'm wrong i'd be grateful if u correct me. thnx in advance

Regards
.....................................
Kako

Ps. it's also good to mention the TimeFrames to use and combinations etc in the document, as it's essential in Grey's strat afaik.

 

[kako]

Hi

i also have another question: does the Paltalk room is active everyday? i can't find it, it'd be great if some1 could post the times(in GMT) when it's active and the name of the room.

Regards
...................................
Kako

 

[fibbo]

Hi fibbo

thnx for the word document, i have a ques tho. does the 50 and -50 figures are MACCI readings of Dow? what is the guage to determine whet-Er mkt is strong or not, i guess the MACCI(daily) of INDU, right? if i'm wrong i'd be grateful if u correct me. thnx in advance

Regards
.....................................
Kako

Ps. it's also good to mention the TimeFrames to use and combinations etc in the document, as it's essential in Grey's strat afaik.

Hi Kako
The +50 / -50 figures are the INDU.
Use daily MACCI and then the exhaustion engine for intra-day to help determine INDU strength.
like i wrote in the post it is only a "cheat sheet" so i have not put in any time-frames or other details of the strategy because my assumption is that people have a good understanding of it. (plenty on the site for those who dont).....
As far as i know Grey1 does the PalTalk thing every now and again, i dont think anything is.planned at the moment though.

Regards Steve

 

[garethb]

Fibbo

Thanks for the cheat sheet I think it's helpful to see it written out like that.

There is some confusion on the meaning of market is +/- 50. Partly for Kako and just to make sure I have this correct - By INDU +50, -50 you mean net change in INDU from previous day's close. Nothing to do with MACCI

So if change in INDU from previous day close is less than 50 up or down for the day then we are oscillating, greater than 50 up or down we are trending.

Just to clarify on how that would have applied to yesterday.

$ INDU opened slightly up and spent the time through 'till about 12:00 eastern time between about +/- 20. So you guys were trading according to oscillating market during the morning?

Somewhere soon after 12:00 it broke down out of this range and must have gone through -50 around 12:45pm Eastern although arguably the -ve trend could be identified earlier - so in the afternoon you had switched to regarding it as a downtrending day?

Is this correct?

Regards,


Gareth

 

[Trader333]

By INDU +50, -50 you mean net change in INDU from previous day's close. Nothing to do with MACCI

For me INDU has to be at + / - 50 within 5 minutes of the open for it to be a trending day. But you can get days when the evening session is trending and the morning session isnt and vice versa.


Paul

 

[kako]

Hi

thnx fib for the answer and gareth for clarification, that was my doubt too...
thank u paul for the insight tho, i heared from iraj that the +/-50 figures are for some years back, and he's not using it in the current mkt. i hope he could see here and clarify the situation.

Regards
............................
Kako

 

[garethb]

For me INDU has to be at + / - 50 within 5 minutes of the open for it to be a trending day. But you can get days when the evening session is trending and the morning session isnt and vice versa.


Paul

Yeah, and days when it opens +60 and trades all the way back into the red all day long, etc, etc.
But then that's just trading. Like all "indicators" it won't work all the time. It's interesting to know that Iraj doesn't use this so much now. I've noticed several occasions recently, Paul, that you have said that you do.

I have a big psychological problem at the moment that when not trading or just paper trading I find I can often call the trend fairly early and correctly or identify when it is just going nowhere but when I am in a position or looking to take a position I'm calling too early in an oscillating market or calling a reversal when the trend is getting going etc.

Actually writing that and thinking about it perhaps thats not my problem. It may not be that I make better calls when papertrading, rather that I am more able to adjust my view and change my stance when paper trading - not so afraid of being wrong. So I'm more likely to get on the right side of the market after a mistake.

Sorry to ramble guys, I just suddenly found it therapeutic to share. I shall have to go and think about that one.


Gareth

 

[neil]

Yeah, and days when it opens +60 and trades all the way back into the red all day long, etc, etc.
But then that's just trading. Like all "indicators" it won't work all the time. It's interesting to know that Iraj doesn't use this so much now. I've noticed several occasions recently, Paul, that you have said that you do.

I have a big psychological problem at the moment that when not trading or just paper trading I find I can often call the trend fairly early and correctly or identify when it is just going nowhere but when I am in a position or looking to take a position I'm calling too early in an oscillating market or calling a reversal when the trend is getting going etc.

Actually writing that and thinking about it perhaps thats not my problem. It may not be that I make better calls when papertrading, rather that I am more able to adjust my view and change my stance when paper trading - not so afraid of being wrong. So I'm more likely to get on the right side of the market after a mistake.

Sorry to ramble guys, I just suddenly found it therapeutic to share. I shall have to go and think about that one.


Gareth

And you probably found a cure for your mind set weakness

 

[kako]

Hi

yea i agree with neil that if u found a cure, it'd be gr8 if u share it with us, it's an epidemy tho...

k imho, the cure is: to define all scenarios u may face in the market, know what to do/not to do in any possible case, make things as mechanical as possible and minimize(it's quite impossible to remove) emotional aspects from any trade. this way the analysis and real money trading will have more similar results....

Regards
..............................
Kako

 

[samtron]

Hi garethb and others
Its one of the great dilemas of trading, "SOMETHING" just seems to happen when you move from paper to real, I think it can be summed up by:

$$$FEAR$$$ and $$$GREED$$$​

conquer those two imposters and imho you will be a man my son How??? sorry I can't help, I'm still working on that myself