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TheNegotiator
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Everything posted by TheNegotiator
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If someone who sells things has nothing to add to a discussion yet they persist in soliciting for business, that's not good. I include in the nothing to add category, elluding to things without ever explaining them. A business needs to make money by charging for services however, It is my opinion that giving some useful information actually demonstrates the quality of the service. So it's my opinion that a vendor so long as they are useful to readers and aren't pushing themselves/their services overtly, is an asset. However, I would also point out that in this thread, I do continually push people to explain themselves and their approach so that the use is clear. As of this time, most posters have been useful to the thread and to the readers of it I would hope. If that changes, I will decide whether or not to act on it. So let's turn our attention back to what is really important- "Day Trading the E-mini Futures" (and by the way any other futures which are interrelated).
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VWAP(38.00), Midpoint(37.25), ON High/High Vol low extreme(36.75) and Open (35.75) all standing in way of any selling(although either way if it gets going it might not matter).
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gl gosu. sry cory I missed ur earlier post
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by my reckoning, 3152 could be useful in 6E
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now that was exciting. it made new highs by a whole 1pt!!
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erghh, do something. seriously.:bang head: maybe they'll wait until everyone's either left or has fallen asleep.:sleep:
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I think if that euro breaks either way, es will go.
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lol true ......................
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given its vicinity, I would guess the high from 7/7/11 at 1341.25 would be more relevant than the close maybe
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Hi Tom. I'm not trading today much if any. But what I would say is that considering the strength of the move, it really could've had a bit more of a crack at pushing higher already. The gap extension put a 127.2% at almost exactly the high(I often use the 27.2 as a measure of conviction of a move). The 50% retracement is at 1329.50. Not saying it will retrace, just that there are well lined up targets if it does.
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No problem Steve. Just I would point out that saying you had a long position several hours ago and holding the trade into NFPs are two very different things. I haven't used ESignal in a very long time now but as far as I can tell, your "pre-position screen" is just a chart showing no position data at all. I don't know whether this was just an oversight or not though as you have stated before that you find it difficult to post and trade simultaneously(which I agree with) and this is obviously a big issue under shock-NFP trading conditions! Perhaps you can fill us in later. For many people though, especially retail traders, trading NFPs is very dangerous. You must know what you are doing. You must appropriately size your position to account for possible increased volatility. You should also have fast low latency equipment. You should also have a good sized account. This is all my opinion. Remember, you can lose more than the amount that you having sitting in your account when trading futures products.
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Are you saying you had a position into the report or is that just a chart steve?
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I don't personally hold positions into NFP Cory. Btw, take a look at the 50% on the entire move. No coincidence. Tom, looking further back I'd say if we take 1350 area, there not a great deal until 1400's.(that's not a suggestion for today btw!! )
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Haha what an exciting day I've missed! Lol. Although I would point out that just because the range isn't large doesn't mean the chances weren't good. I can spot at least 3-4 nice entries at prices we've had an interest in recently. What a lovely looking bell profile and an inside day(so far). Anyone for a move tomorrow?
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I hope everyone realises though that trading from "node to node" isn't necessarily the name of the game. High and low volume prices are areas of previous value or supply or demand. Just because they were in the past, it doesn't mean they will be in the future. They do give us a framework to work with though. When we see prices revisited within the context of the auction, we watch to see if there is any indication that they will again hold up as places other traders are interested in. Sometimes we are more agressive if we feel the risk:reward is particularly favourable and other times we look a little more before committing. Then, when we are in a trade we watch for what the market does in comparison to our theory and we manage the trade. As you can see, there is much more to the trade than high and low volume prices. Indeed, many say actually entry technique is not especially high up on the list of factors effecting a trader's success.
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What is the Best Multi-monitor PC for Day Trading?
TheNegotiator replied to hirsi1's topic in Tools of the Trade
lyle, don't get all defensive. I never actually said a $150 computer by definition is bad. Our jobs as traders is to look at all possibilities. Just remember that while the people posting on this thread may have some experience here, others who read it may not. These people may not be so lucky if they get a refurb. And as for your comment about respect, whether you like it or not everyone here is required to treat all other users with respect. You don't have to always agree with people. That's fine. Thanks for sharing your experiences and opinions and your comments will be noted. -
Understanding the profile and auction context gives us an idea of what may happen. This is not the same as choosing to trade it with a certain strategy. There are some techniques which require more attention than others, some which are potentially riskier depending on your own personality. And so on. There are entries which I see others take which I wouldn't necessarily take myself. But I see the same things as they do. Use the tools to see what is going on, but trade your own strategy which you are comfortable with.
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What is the Best Multi-monitor PC for Day Trading?
TheNegotiator replied to hirsi1's topic in Tools of the Trade
A warning to anyone reading. Buy any computer on ebay for $150 for trading and you are taking a big risk. appl, dell or otherwise.(or even an appl for $1000+-we all miss things sometimes when we are actually trading lyle, so show some respect) -
What is the Best Multi-monitor PC for Day Trading?
TheNegotiator replied to hirsi1's topic in Tools of the Trade
Lylec the arrogance of man never fails to surprise me. Think about what you say before you say it in future please. -
I'm not sure anyone is suggesting mechanically trading off it. If they are they'll likely be disappointed like others who trade mechanically with other tools. But using the auction and structure to gain quantifiable entries and exits can be very useful.
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steve, it's not our mp or volume and you are missing the point. If you understand it with auction context and experience it does show you what is going on.
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Just beware of this carrying on down. don't wanna stand in front of a freight train into cash close.
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wow, that was a hit there!
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profile is very thin below the VAL...
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I'm referring to the fact you are starting from 7/7/11. Gann said(I think it was him) that often the most important point is not a top or a bottom before a directional move, but the second high/low before it takes off. If you think about this it makes sense logically in that the market tests and then if it sees what it likes(or doesn't) it then commits.