torero

I'm a bit reluctant with these mini-ags due to their low liquidity, unless my assumption is wrong.

I don't trade stocks, it's why my holding is no more than 1 week. If I did trade them, it would be a better way to longer term. I gave up stocks a while back ever since I found eminis and cannot devote enough time to do all the homeworks (scans, calendar of earnings, etc).

I'm studying that right now, testing out the pivots and fibs on different session types. Anyone has some input into this area on how well they work on what charts, tendencies, etc?

I agree exits are a bit more difficult to guage when to get out. Position management probably takes more discretionary than many would like. I for one, have to change at times according to market conditions, which has good and bad results. But a fix exit sometimes can be a hindrance as well.

You're doing good, on track and on target. Just keep going!

Hi Kerry and welcome to TL! So what do you days there are no gaps?

No, but I'll take a look at it. The problem which one is more reliable: composite, pit only, or electronic only? In ER2, the support/resistance are not so different between the 2, but in wheat, wow! It's like night and day. That't my concern. The two charts, below shows the Friday's close, with one chart above the support and the below resistance. This is what is driving bananas.

I think if Warren Buffet were a pit trader, he'd be a broke in 2 days. FA is good at looking long term, TA is for confirming that long term and short term outlook and timing the entries/exits. Each has its usefulness. Unfortunately, I can't hold a trade beyond 2-3 days so FA is not helpful enough to considerate it at all.

Don, how is your slippage so far? Have you done comparison how the system vs. real price bought or sold?

You're welcome, and forgot to welcome you to TL! Welcome! (LOL).

I can only assume Agrawal using these tools globally (stocks, futures, commodities). Since I'm new to Ags, I'm trying out price patterns, Fibs, pivots, etc to find strategies for these. Yes I agree, charts are the best way to get your point across loud and clear.

One problem I noticed as well, is the BIG difference in charts between PIT wheat and continuous wheat charts. MrPaul noticed this last Friday when we couldn't agree on the support/resistance area (I thought resistance was at 32 when he thought it higher). I used @W.P (Pit) and @W (regular) in Tradestation. Any comments on this?

Right click on the chart you want to see the Tape, there is a drop-down menu, click on the "Time and Sales" window, that should do it.

James, the video link is a dead link (404). Can you please relink it? Thanks.

If this pit trader used the price data of another market, it's still TA. TA is TA is TA, whether price of another market or not. Whether who determines what's on the board, doesn't matter, if price is on that board, it is......... TA.

Nicely done! Stuck to your guns and you got the rewards as expected. Keep it up, Don!

Any recommendation on trading on the electronic hours before the pit hours open? Trying to get in early on the swing. Good or bad thing?

I found this page on this method, is this as true to the original concept you mentioned? Trader.Online.pl® - MetaStock™ Zone - Oddball S&P System by Mark Brown

These are fine but it's still not ordinary non-vampire hours LOL.

Many many system failed after the 2002 because they were best during the tech bubble but after that volatility changed. Systems need to be improved or optimized from time to time (when is the million $ question). No system will last forever, they will work at one time or another, like discretionary traders, even they go into drawdowns from time to time, even the best and experienced happen to them. The fact that so many systems are trading the same way eventually they get diluted, new systems will come and take advantage of them and make them obsolete. It's like everything, empires will come and go.

Ok, let's end this argument once and for all. Here's Wikipedia's definition: "Technical analysis, also known as charting, is the study of the trading history (the price and volume over time) of any type of security (stocks, commodities, etc.) to attempt to predict future prices. In its purest form, technical analysis is concerned only with the actual price behavior of the instrument, based on the theory that all other factors affecting valuation will be reflected in the price before an investor can become aware of them through other channels." Technical analysis - Wikipedia, the free encyclopedia So, if you're analyzing price or volume, it's TA. That goes for MP, VSA, etc.

Hi Horus, very encouraging and true that systems do work. It's a matter of skills, creativity and lots of sweats that you'll eventually get a decent system that earns something. Back to Oddball, wouldn't this system become obsolete because everyone is trading at the same time and eventually cancel themselves out? Eventually the market will absorb and change to make the system becoming useless. I'm speaking of too many using the same system, not systems in general as useless.

I use MBT, which is a direct access broker, which has the same trading platform as EFX. Also Oanda is a good option. If you don't see on average EURUSD is 1 pip or less at normal times, then it's a bucket. GBPUSD should be at most 2 pips. Also, make sure you make yourself available for London open (2am EST), best time to get in or out despite being a 24-hr mkt, even for swing trading. This is an important time where levels tend to be broken or tested.

A closet TA trader, come out and say it man!!! Be yourself and admit you like TA and you live and breathe TA. Patterns are a convenient way to categorize certain price action that is repeated over and over through time. It's basically price action doing the same thing it always does. Using these patterns help dumb traders like me get a better understand on the market structure. James, you sure shot yourself on the foot here LOL!!!!

How do you trade spreads? Using different time contracts of the same product?