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SunTrader
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Everything posted by SunTrader
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I made the same mistake after coming back to this thread after posting on the first page. Would have been better to title it "short term intraday close is meaningless" although I don't for a second believe that. Is it as important as a daily close? No ef'ing way. But it is not meaningless either. To me a range or trendline breakout is not confirmed till a close beyond plus a couple of ticks more on next bar. Just one example that comes to mind.
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My test result: "You are a planning Trader" "You tend to be decisive and to the point. You can spot logical inefficiencies in the market easily and take advantage of them, especially if you are pointed in the right direction. You enjoy long-term planning and goal setting and seem to enjoy learning, expanding your knowledge and staying well-informed". But who knows really.
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How Do You Determine Your Direction at the Start of the Day?
SunTrader replied to suby's topic in Technical Analysis
My reason for saying Copper and S&P are moving according to Fed policy is strickly due to liquidty. Basic econ 101 more dollars equals more activity. And of course less activity in the future once the "bill to pay" comes due. No attempt to get everyone to bet wrong though. -
How Do You Determine Your Direction at the Start of the Day?
SunTrader replied to suby's topic in Technical Analysis
The direction of the price of Copper and S&P are implied by Central Bank policy (QE uno, dos, tres). Smart azz, huh? Couldn't resist. -
Nasty drop .
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If we are talking a highly traded market (such as ES) and on a 5 minute basis or above then the close, on most bars on a reputable data providor such as Genesis, esignal, TradeStation etc, should be the same, scrubbed or not.
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:beer: Hiccup. Staggered?
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I agree and that is one of the many reasons I don't use short term bars for signals.
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As far as staggered bar data points on shorter time frames :shrug: Could care less what someone else's chart shows and for the most part don't look at anything, for signals, below 60 minutes. Entries yes but not signals.
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No.99% TA / 1% FA or something like that. Why do you ask that? Where a market (that doesn't trade "round the clock") closes is very important. That is until the next trading day where it opens becomes now more important. Intraday highs and lows less important in the grand scheme of things.
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Somebody gets it. Well actually others too but well put nonetheless.
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How Do You Determine Your Direction at the Start of the Day?
SunTrader replied to suby's topic in Technical Analysis
VIX measures volatility. And volatility moves irrespective of price direction. -
I trade based on what price I pay and what price does thereafter. What someone else paid, big or small, means nothing to me.
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How Do You Determine Your Direction at the Start of the Day?
SunTrader replied to suby's topic in Technical Analysis
5 min chart price action spoke loud and clear at 935am ET. No need to know in advance when there is a clean break: -
The subject of ValueCharts kind of sidetracked this topic but if others can bear with me one more time - for those of us TradeStation users, if you didn't see/get the message center pop-up today that on Sept 19th 400pm ET they will have a free live webcast: Mark Helweg is the founder of MicroQuantSM, a producer of market analysis tools. He has developed numerous quantitative financial models, authored the book Dynamic Trading Indicators and frequently lectures on trading technology and technical analysis as applied to the stock, futures and forex markets. Learn about new precision entry and exit strategies using the next generation of technical analysis tools: the ValueCharts® indicator suite, the first algorithm to model price in terms of objective value. ValueCharts was awarded a patent by the U.S. Patent and Trademark Office in December 2008.
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Ok, I see now. Not familiar with that charting program. MT4 perhaps? I've always just used TradeStation.
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Seems like most OP's here just start the ball rolling and move on.
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Noticed where you previously said close 2/3 raise sl but nothing prior about when and at what price you actually entered long? :hmmmm:
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It is original code, off of TS forum authored David C Stendahl, except I have added a ShowMe dot for occasions when there is a 21bar high/low close. I use them but predominately on a daily basis as a headsup.
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That is not the "original" value chart. This is - indicator at the bottom:
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Yet again another after the fact chart pic which helps (I guess?) the newbs but once they start to trade they won't be trading what did happen. Monday morning quarterbacking shows the 1401 level had many candles stop at or close to it. But I agree it is a lousy example to choose to illustrate much of anything. Minor point, I am not fond of 10 minute timeframe either.
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Las Vegas is for people who "want action". Traders who want to profit control risk.
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I didn't have to go too far. Bringing Common ...
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Because that again is looking in the rear view mirror How about this one. Looking at your first chart (GOOG) the down close bar after the bar identified as a trend break is what is called a Gann Pullback entry signal to enter short. Or just a breakout failure - short term. Until as you point support holds. Many other patterns can be found - after the fact. For those who are new to the game these tips/tricks help but only if they going to continue to look in the past. How do they get beyond that is the real education.
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Common sense is an oxymoron. If only it was common.