torero

Don, are you short on 2 positions?

MT4 is mostly for forex. Might want to check with Forex Forum, Forex Calendar, Forex News @ Forex Factory

So you watch these 3 to find who's leading and who locks down first? Interesting approach.

Does anyone know the reason why limit-down is used in Ag futures then? I know that it's meant to decrease volatility for hedgers such as farmers, but doesn't make sense when the next days, it drops again.

I tend use a range to take profits but unfortunately I set the sell target at 9849 (this is from 240-min chart) and wasn't there to mediate the sell (was actually the dead last resistance pip but I set a bit lower). I'm still in but I'm moving it up under the last pullback (8741 I believe).

So what's your opinion if for example wheat closes locked in limit down, what happens the next day? Gap down until it hits another limit down? I've been watching the electronic session from 6pm-6am with pit time 9:30am to 1:15pm, very interesting time they set, they close 3 hrs before pit opens.

Yep, moved my stop to breakeven, but didn't touch it. so still in.

If this is the only game in town (REIT) than it may just do that. It's only vehicle to hedge housing price losses. So it's possible during the price declines in housing markets, we may see more volume and vice versa for period of appreciation for homes?

I'm obliged to defend trading price patterns because I use it. I think people use it in different ways from what it was originally taught by the early pioneers. Over the years, newbies or instructors come with different interpretation and perceptions on how these patterns work. I, for one, use them daily to daytrade. But I thing I would like to emphasize, and this goes for other types of technical analysis using indicators etc, is that price patterns in higher timeframes than the timeframe you use to make your entries and exits are the ones that work. Many people assume that the same price patterns forming in the same timeframe they use to trade work at a higher percentage. They do happen but I always rely higher timeframe pattern to confirm my direction and timing of my trades. 2nd, many make their entries without pattern confirmation... big mistake. I always wait for the break of the pattern, pullback or retrace, then proceed in the expected direction, that's when I come and not come in at the first break. As market change where more and more fakeouts, false moves, etc keep fooling the average trader that confirmations become a necessity to trade successfully. I also use patterns along with S/R and Pivots, so it's not a be-all, end-all strategy. Like everything else in trading, nothing by itself works, combine with other things work wonders. The concept behind price patterns is well... price. So Price is King in patterns. If you take a look at the formations, they are an advanced version of price action... how? higher highs and higher lows or lower highs and lower lows. So, back to head-and-shoulder, what do you see? Higher high/higher low, then the right shoulder... what happens? Lower high/lower low. Same logic as price action to me. I think alot of people assume price projections from patterns are bunch of bull. Fine by me. At least I have a target to shoot for and determine my R/R before committing a trade. I know price projections (measured moves) work very well in Forex.

Hey, Boca, I notice you use the whiteboard too eh? I use it to mark my levels along with other important numbers, dates, etc for trading. I'll snap a picture next of my tradestation.

I understand your strategy focus alot of exits, but aren't you even concerned about entries? Can't have one without the other if a trader wants to keep their strategies in positive expectancy.

Did anyone follow Wheat yesterday? Same thing, gapped down, then stopped and reversed. It hit a major support level and moved back up the rest of the day. I wanted to go long but wasn't sure of the lock limit concepts. Maybe you can shed some light. What's the max. percentage move up or down before the lockup takes place? Any examples we've seen lately?

Very nice, dalby. Yeah, I agree things are bullish while the USD is helping its cause. How about silver? Any thoughts on this? Any correlations with other commodities?

Very nice!

This is a very interesting product as it matures, I'm sure it'll be a major vehicle with good volume. It's the only industry where risk exposure is still high. Now, one question. Once this product is full swing, then they will add options on these products. After that, volatility will increase. Now, the big question is will the real real estate market will become just as volatile to reflect the futures products? I think ever since futures and options were introduced for indices and single stocks, I think they've gotten more volatile. Agree or disagree?

USD vs. GOLD should be good hedging vehicles.

I'm just getting into agriculture futures. Anyone know the difference between soybean and soybean meals? Differences in trading characteristics? From seeing the chart, I see these trend very well. I'm still researching but interested into learning more. I hope this section will be more informative over time.

I'm actually looking to diversifying my portfolio to find uncorrelated markets. One thing I've been researching is the agriculture futures for swing trading (lower margins and slower volatility from what I gather so far). Soul, do you mind open a forum for agriculture, metals, and interest rate section? It'd be interesting for wsam, I and anyone else who's interested in learning more these areas. Thanks.

One of threads in this forum, I ran some backtesting on the TTM and the results are less than convincing. You have to take into account indicators work at time or another. And these services work at one time or another. You have to find that works consistently in order to stay alive. Always view things with healthy skepticism and go slowly toward your goal. There are more pitfalls than you imagine on the road ahead. You have to imagine likely events before they even happen (I'm paraphrasing Bruce Kovner here). Spending money on these services are OK if you are really learning something. My opinion is learn the strategies, techniques, methods on your own and find what fits you and your personality and financial situation. Then if you must, get a mentor (paid or unpaid) to guide to the rest of the way. This is more valuable than getting a strategy at $400 a pop (because you will be disappointment). Getting to a strategy that finally fits you may take many months if not years (1000 indicators out there and counting), by that time going from service to service, you'd be broke. All strategies will work at one time or another but the mentor to guide you through the period when the strategies don't work is what really counts.

Not yet. I have a 9843 as my first target, then 9900. I'll trailing up little by little.

Looks like we got an early riser here, helped by the European PMI release. 9720 was a strong resistance. Although it's been broken by a few pips, I'll take a small stop loss on this stop and see how it fares. If it can't stay above it then watching to go the opposite direction.

Back to bidness. I got a view of the ER2 and YM weekly chart here and the last few bars showing interesting volume. PP or anyone want to take a try at this one. My interpretation is that the volume is drying on the bulls and more on the bears. My take that is if the next WRB with high volume, it's confirming in the downtrend?

Futures Trading Charts by Chart-Ex This is one heck of a tool if anyone of you have not come across this site. Been using it for a while and been a great tool to have. It's similar to MP just a bit different they way they chart it. In any case, check it out and see what you think. I haven't used it live just yet and still learning how to put this into my trading.

What's the drawdown in terms of points or pips?

Yeah, taking another short at same price again, thinking this time might be real. It's late Friday so I may just hold it over the weekend. Done it before. So we'll see.