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joshdance
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Everything posted by joshdance
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Actually I've never heard of reading the tape associated with TICK, VOLD, etc... it's time and sales, only, perhaps with some glancing at the DOM. Others are just market indicators, and I use UVOL DVOL, but it's not really good IMO for immediate market sentiment, as if the market has gapped down, ADD will be negative, period, no matter if buying is going on or not, for example. Who is your data provider?
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FWIW, my TICK shows a high of 731 or so at that time. Data feeds show different values for TICK, which is why I place little value on it. Also, the trend of A/D, UVOL / DVOL, etc., I feel are important, but nothing significant at 9:46 from VOLD --just the usual ups and downs IMO. Care to elaborate?
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Did you sell it on the way up, or get filled on the retest a minute or two later? I forget N, do you use volume in your analysis? Volume screamed to exit longs but it was quite a strong drive up so I did not want to initiate a short, though had I been long I sure as heck would have flattened.
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Perhaps he means from the "transaction" level upward. You mean that ticks aren't equally balanced as a function of volume; however, they are perfectly balanced with respect to number of transactions. Just as time-based bars are equally balanced with respect to time. And so on.
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Globex session-- yes quite bullish from the open until now
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Yday's VAL 85.50, rejected that pre-open and tested 85.75 and back up. Could be an inside type of day at least until 2pm.
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If your job was to throw out assumption and conjecture as fact, without any basis in fact and reality, then job well done. Again, instead of arguing theory, why don't you post a trade example or two, like a real entry/stop/target, based on the information you feel is relevant, and then, the proof is in the pudding, if it may be the case. All you've done so far is just ramble about Goldman, but you've not shown any real benefit to how the information you have proposed can be useful, in a real live situation.
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Yes, no real reason for this market to go anywhere but south. Doesn't mean they won't take it up, but econ news sucks, Europe is still a disaster, and only the holiday shopping season needing a boost may keep the market propped up a while longer.
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The Secret to Better Fills, Less Slippage, and Fewer Stop Outs
joshdance replied to TimRacette's topic in Trading
I'm not trying to be super picky, but for anyone reading this who doesn't know, this is not an accurate statement. Anyone who doesn't understand this should simply understand how queues work, and how a transaction takes place. Not saying you don't know Tim, but it is certainly not accurate as stated. Also, if I may say, it's a bit ballsy to title this post "The Secret to ..." -- a better title would be "Basics of order types," i.e., stuff one should know about before ever taking a trade, just like learning which pedal is the brake and the accelerator before driving a car. -
Yes, they are talking about shares traded -- volume. Nothing special. Talking heads on CNBC have zero to offer traders. By the time you hear it, it's already been traded.
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Is that like a 2K chart or something N? I have a 2K open and looks similar. Re: your chart, the only fake that fooled me was that it popped up from that distribution, came back down and tagged the POC (95 I think?), and then had a bullish move up. THEN, it struggled.
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Steve did you mean to attach a chart to your last post?
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Are they buying the bid or paying up to the offer as they buy on the way down?
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Very logical, thank you Traduk.
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Good to see you Logic, hope all is well, and happy trading!
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Thanks for the info steve -- happy trading and a good weekend to you.
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Can you elaborate..?
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Steve, what "local distribution extreme" did this test at 20? I considered a short as well here as the tick above 20 failed. However, given the very strong push up just before this, and the bullish activity this afternoon, I did not take it. What was your entry price? I was watching 19.25, as this was the open of the day, but to the left I see nothing of real interest until 20.75 (IB high) and the high of the day, 21.75. My chart attached shows this area highlighted in blue. So, what was it that caused you to shade your chart in the area you took the reversal trade in? Also Steve, at 2:38pm ET, 18.75 printed, testing those who sold a break below the small range (19 to 20) that formed at 2:13 to 2:18. At this point in time, if I may ask, where was your stop, and had you decided to just keep the trade on no matter what, or were you watching to possibly close early or reverse and go long if it retested 20?
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Thanks N -- wish it was a trade building the green, instead of diminishing the red. Hard to trade out of holes dug by stupid mistakes. It's quite a lot easier to trade when you have a "buffer" for the day, mentally tough when you're down and trying to climb out.
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After a failed long or two (again), I bought 11.50 and exited at 16.50 near the prior R. Looking to see if we print lower than 10.75 or if this will be a higher low around 12-13
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Interesting that for the third day in a row, we have a VPOC of 49 (ok 48.75 today but who's counting)
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Good suggestion on only shorting or longing as an exercise, I may try this. I'm guessing your shorted 55.50 around the 2:38 - 2:40 time frame? My short was just after yours at the bottom; I considered a short at 41 when it retested IBL but the order flow had turned bullish and while it was slowing down, I preferred to enter on a break, which I did just below yours. Sometimes these huge moves down can reverse quickly and that's what I was concerned about. Nothing worse than fading a move and losing a trade, than doing that and THEN going in the direction of the move, but getting run over in that direction too
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N, as this market is more easily classified as a bull market than a bear market over the last month and a half, I have a bias towards longs. I tried to buy twice on the way down here and got steamrolled. Obviously the answer is simply to sell when it's moving like this, but what are your thoughts on the subject? I have had some great long trades recently but I have been having a problem shorting. FWIW, I did catch a +3 pointer (38.25 to 35.25) on the second push to 35. But still, so much potential there, none really captured. If you shorted this, do you mind saying where and when? I had this feeling when 48 broke hard that we would see new lows, but the sell side is just a harder side for me to see at the moment.
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Indeed, I do feel like a doofus. Thanks N.
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Did you see this? : And if so, do you see how you fit the bill pretty well? Just give it a try--open up a 1 minute chart, a 5 minute chart, and a time and sales window of your instrument of choice. On the charts show price, and a volume histogram. Sit in front of the screen as long as you can every single day without fail, and just watch. Do this for 6 months. Don't stop after a week, or a month or two, because you get bored. This is not a "strategy" or a "system" -- you don't need a strategy, you need to learn and observe how markets move. If you feel you need to see more, then put it on your chart. If you don't need volume, take it off. If you need a different time frame, or a volume/tick chart, or a range chart, or any other kind of chart, then add it. But do it because you need to, because your curiosity moves you to; you'll be amazed at what you discover just by observing, and focusing on what you see, and not focusing so much on strategies, indicators, or making money, or what other people say they do to make money.