weiwei

good point Notouch, as those are from my own observations, but do not have clue on why it is that way. this should help others to understand more about this indicator. weiwei

POP, when it is ready on your update, please let us all know. It really is my pleasure to read "Phantom's Gift", and letting others know about it. weiwei

Soul, 1. Opening price and Premium divergence is one way I use the most. 2. Pattern on trending day, not any trending day, but the trending day that price just move upward without any big up bar or down bar. But price keep on advancing and close near the high. This is what I call a systematic buying. It is usually very calm on Premium, act as it is in a slow day. and Premium will usually stay in the middle without hitting the up or down trigger line. 3. depends on market condition, when buy or sell program triggered, most of time it dose not confirm the direction of the move. Or we can said it is fake out. But if they trigger in a very close time period, said 3 times in 5 minutes, then usually it is show that price will have strength. Otherwise, it is usually a indication of top or bottom on current swing. Number 1 is the one that I use the most for fading opening gap. Number 2, do not happen a lot, but if one can spot it, then one can ride this trend, and trend of this kind usually last for a while. Because big boys are not playing games to get in, they just want to get in, thus I call it systematic buying or selling. Number 3 is harder for people who is new to this indicator, I usually ignore it if it happen randomly, unless the frequency gets intense. Got burned many times thinking that when buy/sell program triggered, price suppose to continue in that direction, but end up get in at low or high of the swing. This just to tell you before you use any indicator, know it inside out or pay for the tuition to learn it, like me. weiwei

Look at vidoe very carefully at opening. For the price run up 1st, but look at Premium, it formed a down channel. Divergence of this kind is very powerful indication that the opening up run is usually a fake out. Pattern of this kind is very useful on gap day. gives you better indication if the gap will get filled or not. weiwei

YM is future on mini dow.

I trade YM only but watch all other 3 index markets. A lot of time, one market will give lead to another. In my case ES. So far, base on observation, YM and ES act more closely corelated, where as ER2 and NQ are more corelated. I personally do not jump on different markets on day-trading bases, but on swing trading, I do look at which market gives better risk reward ratio. weiwei

Brownsfan019, Got this from a experience designer. there are the tools that she use. Dreamweaver, Flash and fireworks. Photoshop has gain a lot momentum lately. weiwei

Yigal, can you post a pic and be more specific before one can give out his opinions. weiwei

I know a pro oil-gas trader who write call option for his hedge fund, while his fund made a killing for the pass few years, thanks to big valitility in oil and gas for pass few years. He was doing fine when price of crude oil fractuate in the $18 range. Collected a lot of premium at that time. But he end up getting fired, he loss a lot of money for the fund on those naked call option, because from what I uderstand on writing call, market have to be calm. not volatility to collect money. Another thing with stock options, the spread will put you in a big disadvantage. On stock option each step is $5 on stock that is over $30. (this is out of memory, could be other then $30). while if you buy individual stock it is only 1 cent. I done a calculation a few years back on writing option. You can be 80% to 90% correct and still not making money. In other word, you can be collect those preminum for 8 to 9 time out of 10, but that 1 or 2 time will wipe out you profit. After that, I stay away from options, there are just too many thing against you on options. Trading stock or futures is easier. weiwei

In TS, click on file=>open Easylanguage Doc, then open SortArray function. It will show you how TS return a function. Basically it is treated as procedure to return array as a variable. weiwei

brownsfan019, to build simple website with minimal effort try using those web site building tool offer by hosting company. register.com and netfirms.com are 2 of the company that offer that function. will find you more option when I get in contact with a pro on this. BTY, Brown's Fan, how about Eric Matcalf on punt return. I remember he single handedly won a game for Brown just on punt return. weiwei

ImXotep, yes, it can return an array. Look at example from TS user guide, search for SortArray, open it and see how it work. weiwei

thank you, Notouch for the heads up. weiwei

Yigal, on pic1 with stream of buying range from 648 to 651 and order stacking together on the bigger contract.(the one you circled). That usually mean all these big order rushing in to buy. usaully it should create market momentum. However, big players know that people are monitoring their activities, and they will do any thing they can to hide their intentions. For example: to buy 1000 contracts, they may buy 1500 and sell 500 alone the way to create chaos in the market to achieve that final 1000 numbers, and guess what, they do not have to achieve this all at same time, they can do it within a period of time, could be hours to days. Bottom line: use tape as reference but be alert on its action. especially on low volume day. Once you look at it long enough, thing will start to pop out at you. Another intertesting one on tape is you can ID short term SR on that market. You can some time spot price slamming on tape. It is actually quit fun to see how market in action. weiwei

Sorry, miss the important one. Once I know, I can give you some info on what tool is good to do what you want. weiwei.

brownfan019, web page design has gotten very complicated nowadays. If you can limit down to what you want to achieve, then it can save you a lot of time on not going to the wrong direction. Design a more graphical web page and designing a more database related web page take different tools and talents. and they all take time to master. weiwei

thank you Cooter for the link. It was getting late when I posted this book review. weiwei.

Cooter, good point on ER2 gap. It is a wild bronco and get ready for the wild ride. But if you can trade ER2 well, then it will reward you handsomely. weiwei

First of all, this is not a book in traditional sense, but a interview with a pit trader who wanted to be called Phantom. Best of all, it is free. Do a search on google on "Phantom of the Pits" to download the PDF file. Review: Phantm who has been trading for 30+ years and now wants to give back to other traders on his view on what is a better way to trade, especially for small traders. He gave out his 3 trading rules that he follows and those interviews reveal his market insights. Here are some questions answered by Phantom's insights. 1. what is the Important aspect of trading? 2. you need 2 trading plan for entries, and why do you need 2. 3. His view on daytrading, and how to apply his rules. 4. Many market condition, such as, how a fund bid a market so they can sell the market. what should you do. 5. Is market always correct? not so by Phantom. when he gave out his rules, he went into great details on why he use them, the psychology behind these rules. and the benefit of his rules. Better yet, his rules can be a great enhencement to any trading system. If you are new to trading or struggle with trading. The read this book as many as it take for you to understand the contain totally. If you are a experience trader, then his insight would enhence how you approach market. there are many others, too many for me to list it out. I am very sure every trader can find somethings useful toward his trading. I read it once about 18 month ago, and now re-read it again, and wow I am totally overwhelm. so much good info in this book, I only wish I had internalized some of his insights. The difference between now and then was that at then, I just read it and did not take time to sit down and digest the contains and think them over, now with 2nd read, and carefully thinking his insights over, I truely appreciate Phantom's insights and his willingness to share.

Breakout play, I think it is relative term. what one must pay attention is the location of the breakout. Not all breakout are the same. The one that I pay attention is the prvious swing high or low on daily chart or 135m chart. The longer the time frame, the harder it is to break out of it. one can take the top down approach on the concept to know how real this breakout will be. But one thing to be aware is that the bigger the time frame of the Resistance to breakout, the harder it is to catch. Bcause smart money will usually push through it fast and furiously, then take profit to scare off people from entry.(flag formation). And guess what, to hide their intention, they will do it 2 to 3 times to scare people away, thus create false breakout. It is best for people to get in on pull back, so you can look for foot print on if market really want to go up. Remember, market is design that only 10% will make money out of it. So market will have to carry the least amount of people up or down to be profitable. So false breakout is one way to achieve that purpose. weiwei

Vladv, NR7 means narrowest range day for the pass 7 day. In trading this usually mean the next day has very good chance to be a big range day or trending day. From my own experience, usually there may be a chance that the next day is also a NR7 day, but market will not stay in this contraction for long. So if market end up with a NR7 day, then expect a bigger range day coming. weiwei

$ticks, use it a lot for intraday trading. To me market internals are not leading nor laggard. They tells me what is happening now with relation to price on Index markets. and helps me to compile that info for entry or exit. weiwei

My experience on trading with TA indicators is this. On swing trading,(using of daily chart, holding of more then 2 days). TA with price derived indicators do work, but a lot of work to find the right fit for the right market. I do have a few swing trading systems which are doing very well base on TA. on Intraday trading: Lagging indicators, such as RSI, CCI ect, has not been working for me. Only after I switch to "Now indicators",(tape, Volume with price, inter-market relationships) market starts to make sense for me and my trading become stable. weiwei

Thanks Soul, will start to look for that on tape.

Here is my 2 cents on gap. 1. up day, up day and gap up, or down day, down day then gap down. fade it 2. If there is afternoon strength yesterday, then gap up, then I do not fade it and start to look for sign of a trending day. On 1. this is from Linda Rashisck, and the way that I use it is to measure the current swing with last swing. If the pass 2 to 3 days put in a nice swing that is close to last swing, then it gap up big or gap up and run up. and when it is hitting on a important SR level, when that the risk reward is good, I will start to look for sign of weakness. Usually on ER2 more then 4 points and on YM more then 40 points is what I look for. It dose not happen a lot, but when it happen, it is usually very reliable. on 2, after those Index markets have been beat down for 2+ days or in range mode for 2 day+, then if a rally came on the afternoon with nice volume and steady up. (like today). I perfer a V shape and close at swing high, in other word, showing strength into the close. Then if there is a gap up, I then start to look for sign for a trending day. Or at least not to fade the gap. weiwei