eurotrader

I've probably experimented and tinkered with untold types of moving averages of various lengths, etc. not to mention indicators. At the end of the day I came to the conclusion that it is all a waste of time. My recommendation, take everything off the chart except the price bars and stick with pure price action and how it reacts around previous S&R areas. If you must have a moving average then you are far better off sticking to one that everybody else is watching, like the 20 or 50 SMA.

Since this was suppose to be a day trade with no real plan you either cut & run or... I like SuriNotes AB reply, look to ride it back up to a better exit price. Alternatively you could reevaluate the trade as a longer term trade. If there is reason to hold the trade you could continue to hold and buy an ATM put as insurance.

I can highly recommend Infinity Futures. Excellent service, low commissions, and very nice trade platform. Any problems you can always reach somebody on the other end of the phone; very important if things go pear-shape.

Seems like this thread has come to a sudden halt. FT71 does a blog at Simplicity in Trading you might be interested in in which he has discusses what he does in detail. Also in Twitter.

Thanks electroniclocal. I've haven't really looked at range based charts closely but will experiment with them to see how they compare with tick and minute charts. Had a quick squint at your blog. Looks very interesting and will have a much closer read through this coming week. Cheers.

Many thanks BlowFish. I scalp the first third at a set target, take the next third off at the second target, and let the remainder ride. I haven't found a tick setting, or a minute based chart under 5, that gives the flow as it use to. At the moment I've settled on the 5 minute while I continue the search. Will also have to have a look at range charts as per electroniclogical's reply. Cheers.

Many thanks for that, big help. I keep meaning to subscribe to Futures mag but never seem to actually get around to it. Will have to pull my finger out and do it. Seems like they always some very good articles in it. Cheers!

Markets have their own rhythms as I'm sure you are aware. A couple of years ago the FESX seemed to have nice flow or rhythm on a 199 or 233 tick chart (we are obviously talking intraday here). Since the market crash this flow seems to have shifted dramatically, if not disappeared. I have yet to find a time period in which this flow is evident so was looking for input from other Euro Stoxx 50 traders.

Thanks. Gave it a try but doesn't appear to be working.

I've been looking at a multitude of differnt time periods from time based to tick, volume, etc. with out coming to any firm conclusion. I would appreciate any advice or feedback from other Euro Stoxx 50 traders as to an intraday time period that seems to work best on a consistent sort of basis for the Stoxx, i.e. 5 min, 233 tick, etc. Many thanks.

I've been looking at a multitude of differnt time periods from time based to tick, volume, etc. with out coming to any firm conclusion. I would appreciate any advice or feedback from other Euro Stoxx 50 traders as to an intraday time period that seems to work best on a consistent sort of basis for the Stoxx, i.e. 5 min, 233 tick, etc. Many thanks.

Yes, that's fairly basic and understood. The crux of the issue is dealing with swing high/lows consisting of multiple consecutive bars all with identical prices for the high/low.

Yes, I agree with you here and have found the same with regards to breaks of trendlines. In fact don't trade breaks of trendlines at all. I also don't use DeMark's trade setups using TD Lines as looking back over time they don't seem to be overly reliable. However, I do find the TD Lines to be of value for staying on the right side of trend and monitoring changing momentum. They also help solve the issue of swing points defined by multiple bars with identical highs/lows.

Thanks clmacdougall. Went back and pulled out my book on DeMark's indicators and had a good read back over the section on TD Lines. I'd completely forgotten about them. Programmed them into Investor/RT and can definitely say it has been a big help in eliminating the guess work of which points to use. Cheers!

I've been having a closer look at the drawing of trendlines of late and, Trader Vic aside, would like to canvas others opinions on how they would draw a trendline in the following scenario. Market is an uptrend from a prior swing low and has finished retracing to form a higher swing low. However, the second swing low is composed of 2 or more bars all with the same low (effectively a double/triple/etc. bottom). Drawing your trendline up from the first swing low, which of these bars with the same lows would you choose as the second point in your trendline? What if the origin of the trendline has two or more bars with equal lows, which would you choose as the origin? Would you go from the first to set the swing low to the one that started the next up-move? You can see the variables. It may seem like a silly question but it can affect effect your trendline substantially depending on the distance between the two swings? I''m sure there is no correct answer to this question, like so many things in trading, but it will be interesting to see how other traders approach this scenario. Cheers.