jperl

Alex, The only tools I use to get ready for today's trading are the HUP lines from previous trading days, weeks,month and year. I don't use anything else. These are my support/resistance lines that will keep me in a trade or tell me to exit

When two humps form in the volume distribution, watch carefully. The peak in the second hump may become the new PVP. At that point in time, the character of the price action can change abruptly. If I am in a trade when that happens, I will usually exit.

Kuky, If you have the latest ensign version (Nov 13 version), you will find the VWAP and SD as one of the studies. Just right click on your chart and choose studies. At the bottom of the list is the VWAP. To get the PVP, choose the price histogram study and set it to volume. The PVP will appear as a red line on the histogram

If you are asking, do I include previous PVP's as dynamic HUP, the answer is yes. In fact, if I see price action approaching a PVP, I will just stand aside and not trade there. If I am already in a trade and price action approaches a PVP I will usually exit there. As far as the PVP's being virgin or not, I don't make a distinction between virgin or non virgin ones.

Alexamder. This may help you; Tale a look at the post by Blowfish and my response here

Karish, If you think of the HUP lines as pivot points, you will understand what I am referring to in the previous threads. For example suppose you are thinking about entering a short trade at the 1st SD below the VWAP. As the price action approaches the 1st SD from below, you notice there is a HUP point just below the SD. What do you do? It would seem to me the only thing you should do is pull the short trigger at the HUP rather than wait to see if the SD is touched. Similarly on trade exit. If you enter a long trade say at the VWAP with the intent of exiting at the 1st SD, but you notice there is a HUP line just below the SD, you should exit your trade at the HUP or at least remove some contracts at the HUP rather than wait to see if the SD will be touched. These are just two examples that I use every day. There is a rich variety of other things you can do at HUP lines, but I will leave it to you to discover these on your own.

I start my VWAP computation for today at the 9:30 open. But even if you start it at the beginning of the overnight session, it usually won't make much difference. Remember, VWAP is volume weighted and there is not much volume overnight compared to the 9:30 open. Occaisionally, I will enter a trade premarket open using VWAP data from the previous day, but not too often.

Here is a site that discusses compatibility issues with a database of users who have tried various combinations of video cards. Use the database to see if the combination of cards you are interested in has been looked at before. http://www.realtimesoft.com/multimon

It really comes down to your risk tolerance. Once you start trading using risk tolerance rather than stops, you don't have a problem scaling-in multiple contracts. On days like yesterday, it was quite profitable.

That's fine for the forward candles, (the ones all the way to the right). However the oscillator gives the wrong impression about where price has been relative to the standard deviations in the past, due to the fact that the standard deviation lines are renormalizing with each added data point. For example from 12:20 to 12:50, the lows of all the candles touched the 3rd standard deviation price which kept renormalizing to a lower price. The oscillator on the other hand gives the impression that none of those candles touched the 3rd standard deviation until about 12:40

Glad to hear it. It was only a matter of time.

Ticks- get yourself a copy of swfopener at this site: http://www.browsertools.net/SWF-Opener/index.html This should solve your problem JERRY

Yes, no problem Interesting....didn't know they were working on it. You should see the post by mp_trader whose has been working on this too. I don't know if he has completed it though.

This is the Market Statistics thread that some of you advanced traders have been waiting for. This is the "how to trade anywhere, anytime" thread otherwise called the "when not to trade thread", but not for NEWBIES. If you are a NEWBIE, back off and read the first ten threads on this topic starting [thread=1962]here[/thread]. One of the properties of most markets is the up and down motion that price action displays on virtually all time frames. Some traders call this the market volatility, others call it the natural market rotation. Newbie traders don't like this motion, because when they enter a trade they want the market to continue moving in their direction. Newbies fear volatility. Advanced traders love it. What ever you wish to call it, it is this motion that is tradeable. In the words of Nihabaashi, "To fear volatility is to fear profits". The main purpose of this thread will be to show how you can use market statistics to determine the most probable times when the market will rotate and when it will not. Once you know this, you can then enter a trade either in the same direction that the market is moving or take a contertrend trade in the opposite direction. If you have read the previous market statistics threads, you already know how to do this. Here I want to start to put this all together in terms of a generalized concept which I call HUP. HUP stands for Hold Up Prices. As the name implies, HUP are those prices where the price action tends to hold up, that is where the market slows down, pauses, then either reverses (read rotates) or continues in the same direction. There are two kinds of HUP, static and dynamic. Static HUP are those prices which are fixed for the day. They don't change with market development. In contrast dynamic HUP change as the day progresses. As new data is added, dynamic HUP will readjust to reflect the new data. Below are some examples of HUP that can be used in daily trading STATIC HUP Yesterdays High,Low,Close Overnight High,Low Any computations based on these such as classic pivot points DYNAMIC HUP Yesterdays PVP,VWAP and SD's 2 day PVP, VWAP and SD's 1 week(5day) PVP, VWAP and SD's 2 week PVP, VWAP and SD's 1 month(4 week) PVP, VWAP and SD's 2 month PVP, VWAP and SD's 1 year PVP, VWAP and SD's You can of course come up with other examples of HUP, such as previous bars highs and lows, or 2 day or longer static HUP, or dynamic HUP that are in between the ones I have listed. It really doesn't matter. More important is to realize that these HUP points are prices where the market will tend to hold up. What HUP doesn't tell you of course, is how long the market will hold up and/or how far it will continue in the same direction or if it reverses, how large the reversal will be. Getting the direction correct doesn't mean you can sit back and do nothing. You still have to manage the trade. In the video that follows you will see a 15 second chart with HUP lines drawn on it.. Green lines are SD's above a VWAP. Red lines are SD's below a VWAP. VWAP are dotted blue. PVP are purple lines Now watch this video to see where these HUP lines come from and how the market reacts to them. ER2HUPlinesOct24

Well if you read the position trading thread, you saw I used the previous days volume distribution data to decide on a trade for today. That's an example of using a longer time frame for today's trades. You will see that HUP is an extension of that

I'm still working on a presentation for HUP. Hope to have the beginning of it sometime this week. As far as swing trading goes, I don't do swing trading, but longer term stat analyis should be useful for swing trading as for day trading. The standard deviations will be considerably larger so you will have to have a larger risk factor to do swing trades.

I love this quote about trading. Don't know where I saw it, but I think there is some truth in it for newbies, no matter how big your account is. "Want to get to $1 million in 12 months as a trader. It's easy. Just start with $2 million."

Well I guess we will have to agree to disagree. But I would think that the old pros (and some new pros) who just use time and sales would laugh if you told them you were "reading the tape" by drawing a chart. Once you introduce a chart into the analysis, you are doing a form of technical analysis. In my "Trading with Market Statistics" threads, I only show price and volume in the analysis, but I would hardly call this tape reading. There are others discussion in these forums that use price and volume only, such as volume spread analysis, wide range body analysis, candle shape analysis. I don't think I have seen any description of these as "tape reading". Schabacker (that's with an h and a k) as far as I can tell, never mentions the words tape reading in his books. In fact he is probably the father of modern technical analysis using charts.

I think you are wrong on that one. In fact I know quite a number of traders who trade using only time and sales, no charts. Also do you think floor traders are looking at charts when they trade? This doesn't change the fact that the book cover and title are misleading.In fact if you look at the book cover, what do you see? You see a picture of a ticker tape machine with tape pouring out of it. I was thus expecting that the book would be discussing how to read time and sales data in real time. There is in fact not a single discussion of time and sales.

I think the confusion has to do with the definition of "tape reading". Tape reading refers to the historical method of reading a ticker tape that came out of a ticker tape machine. There were no charts back in the early days. If you use this as the definition of tape reading, then Graifer's title of his book is misleading. In today's terms, tape reading would then mean looking at "Time and Sales" data and nothing else. If you want to learn about historical tape reading then look at the early works such as "Studies In Tape Reading" by Rollo Tape (Richard Wycoff) "Tape Reading & Market Tactics" by Humphrey B. Neill "Ticker Technique" by Orline D. Foster and the all time classic: "Reminiscences of a Stock Operator" by Edwin Lefevre

Now I remember why James dropped tradingrooms. It's slower than molasses and will lock up your machine. Don't know anything about gotomeeting.com, but it is not free.

Tradingrooms i believe may have been used by James here. Don't know why he stopped using it. Maybe he should have a second look

Yes that's the problem with it brownsfan. You can't show realtime charts. What I'd like to see is something like I've done in the videos in the "Trading with Market Statistics" threads but in real time. The closest thing I've seen to this is Woddies CCI club where the moderator posts his real time charts and initiates trades off of them. Very useful.

The former Walter. Recording live in real time so that we can watch you trade and explain what you are doing. The only thing we can do now is post videos with voice over after the fact. But I do notice that there is a live charts "room" where James is posting real time charts of the FOREX. So it seems like it should be possible to have a real time room where the user can post a real time chart too.

I notice there is a live charts thread with FOREX data being posted. Here is an idea but don't know if it is possible. Allow users to demonstrate there trading technique with real time live charts (and audio). We have a lot of talking about trading, but virutally no walking. Live demos would help us all understand what the talking is all about. JERRY