firewalker

The problem with using the break of a trendline as a definite reversal signal, is that often a secondary one can be drawn, with a less steeper angle. I don't mean to say that there aren't profitable trades to be taken of this kind of move, but price doesn't have to reverse and can still continue after failing to retrace a decent part of the move. I'll see if I can come up with a chart to explain what I mean.

... but Soros says rebound is a bear-market rally: http://uk.reuters.com/article/managerMoves/idUKNOA22950420080522

Thanks brownsfan. The SMA(200) is one I pay attention to as well, the SPX also rejected that one. The NDX is still above it though. Anyway, I'm not an indicator man, but I find it amazing how many different elements all line up at once, pointing in the same direction...

yip, but it's also known as "this could double in no time" phase :\

I'll start by contributing some books I found myself. Are there any general works on "auction market theory" perhaps? CBOT Market Profile handbook (free e-book) Mind over Markets: Power Trading With Market Generated Information (1999) by James F. Dalton, Eric T. Jones, and Robert Bevan Dalton) Markets in Profile: Profiting from the Auction Process (2007) by James F. Dalton, Robert Bevan Dalton, and Eric T. Jones Steidlmayer on Markets: Trading with Market Profile (2002) by J. Peter Steidlmayer These are all rather recent books though, but surely the underlying idea exited long before these publications? I'd appreciate any pointers towards "classic works", although by now Dalton's work seems like "classic" already.

The amount of information in this forum is amazing. I've only had a look in a dozen threads, but I'm already fascinated. I was wondering if those with experience in the field would be able to provide a shortlist of the best available resources available on the topic. I take it the seminal work most people turn to is Mind over Markets, but I must admit I'm not really informed on the matter. My experience with MP is restricted to being in a trading room once (about 10 months ago) with a guy who automated his strategy based on MP charts. I didn't think much of it at that time, mainly because his "automated strategy" failed miserably. To prevent any miscommunication, I'm not looking to overhaul my approach to trading, but it seems the talk of the town are concepts like "value area" and "point of control"... so why not add that to my summer literature

I take it you went long around 1409, to ride it back to 1415 (midpoint of 1409-1421). What I find very remarkable is that, at the time the ES was back at the midpoint, the YM tested an important support level from last couple of weeks (12790) from the other side, turning it into resistance. Incidentally, it was also the previous day low on the YM. Really amazing how many elements coincide at one point in time, almost poetic...

I'm not a 'candlestick' trader, in the sense that I trade off candlestick patterns. But sometimes they help me show the effects of buying or selling pressure more visually. This is a bar chart I posted yesterday (in the traders log forum), where I mentioned that the action was a warning signal more downside could be imminent. Daily bar chart from YM: Chart shows the rejection and failure to make a new high. In this particular example the bars peaked "outside the normal range"... easy to spot. I've also included a candlestick chart for comparison, as this is after all, the candlestick corner So, my question the candlestick fans, what extra information do you get out these charts as opposed to bar charts or line charts for that matter?

ah! so you're the guys who drive up the price of my fuel :frustrated:

When things slow down or seem to lock-up I often get this message at the bottom of the room: " XMLHTTPRequest sent. Waiting for response... Click here to reload"

On special request, I've opened another thread where people can trade oil, gold, metals, silver, grains, cows,... you know :o

To add to the list: Privoxy, not an add-on, but a plug-in basically. The downside is I miss out on all the free viagra... :o

5 Lock-ups yesterday. None today. But still not possible to upload an image. Charts don't show up.

exit other half at 2002 for +11

Welcome aboard Dinos. Jokes and all that are allowed in the Off, yet on topic thread, or the chatroom I guess Nice to see 10 names at the bottom of this page! Now lemme see 10 trades

How "soon" can you get in if you're trading off hourly bars?

messed up, edited my post instead of quoting it anyway stop moved to 2009 for other half

NQ trade > stop moved to breakeven, looking to scale out half at 1999. Price at 2004 now... DOW dipping below 12900, I expect to see 875 there.

ah it's okay, we feel sorry for your problems with women :o

target almost hit, scaled out first half at 2000 for +13, net +11 now (previous trade was -2) Btw guys, I like what wasp is doing: blue colour codes for + and red for - points... I realize it is a bit more effort, but it'd be nice to see in a glimpse how we are doing overall.

looks like it wants to dip below 12900

NQ short 2009, stop 2011

Have you got some kind of back-up plan, if the market stops trending nicely for say, couple of weeks? I don't know about FX, but in indices the amount of trending moves lately has been extraordinary... once it goes back into ranging mode the fun will be over :\

Nah, not pushing my luck. Doubt I can repeat that today!

good question, but I just looked at the bottom of the page, and I noticed everybody having a '+', except me!