OAC

How about Gann ? Wasn't he one of their comtemporaries ? Besides his writings, his amazing trades were verified by the Ticker magazine back in 1909. I guess nothing is popular with the TL crowd here unless it has something to do with volume ?

And have your eyes glued to your screen on Fed day. :o

There is inflation because too much money is chasing the same amount of goods. Now higher interest rate will slow down borrowing by individuals and businesses, therefore reducing the amount of money available in the economy

Higher interest rate in the U.S. attracts more foreign investors to invest U.S. Treasury Securities and therefore strengthen the dollar because there is more demand for the dollar. Lower return on Treasury Securities will drive investors elsewhere to seek higher returns

You know how the street is earning-drivened. Higher interest rate increase corporate borrowing cost and therefore reduce corporate earnings.

CPI today was better than expected, it came out 8:30am EST an hour before NYSE opening. You kind of know the number may be good before it came out because the big guys slam the globex futures down to clean out all the stops of the people who were long very early in the morning before the numbers came out.

It is easy to see in hindsight. But how do you determine whether trade number two should be a buy or sell while you are looking at the small value area around 1395 being formed ? Can you explain a little about your rules for order entry ?

Do you always divide the daily profile into 3 sub-profiles ? (1) A to E period = 9:30am to 12:00pm EST (2) F to J period = 12:00pm to 2:30pm EST (3) K to N period = 2:30pm to 4:15pm EST I find it very interesting that you are using the POC from the F to J period which basically the "Mid-day Doldrum" for future support/resistance, and in this case, an overnight scalp.

It is my guess that traders from your office don't really trade the heavy-volume instruments, whether in stocks or futures. It is my opinion that if you trade an index futures market such as the ES like many of us do, you would need a little more than a T&S and a simple chart. In this market, we have a multitudes of program tradings, arbitrage activities, and automated black box systems that would automatically read the T%S data and execute at blinding speed. Tell me if Im wrong.

And don't forget to add the POC for the Globex session as well.:thumbs up:

I wonder how applicable his stuff is to trading intraday ? It seems to me this is one area he is shying away from. Even in the old days when we had the TAG seminars, he used to utilize the NYSE TICK readings to identify monthly or yearly highs and lows in the S&P 500.

Thanks for the clarification, I may take a look again. His entire book was illustrated by charts from his software. I assumed some of the stuff was proprietary, otherwise why can't you include the Tradestation Codes in the appendix ?

Good, Just don't try any of that McGyver Stunt.

I don't know much about Greg, but I can say most paid trading rooms are up to no good. So buyers beware.

I did get a chance to browse through the book, and I am not too impressed. He has this thing called Ord-Volume that is proprietary and you have to buy his software in order to use it. Anyway, anybody who names an indicator after themselves and call it proprietary is a turn off for me.

Nobody can prove or disprove whether this GREG guy makes money trading or not unless he provides his trading statements. So what you have left here is just one guy's opinion vs. another's.

Those comments were not my own, they came from a John Carter/Hubert Senters's video.

I find that these levels just like Pivots or MP POCs sometimes work extremely well and other times don't work at all.

Let me set the record straight. I am pretty sure that COMPX, which is the Nasdaq Composite which is consists of all stocks listed on the Nasdaq Exchange numbers in the vicinity of 5000+, while the QQQQ(NQ) is only the top 100 Nasdaq stocks. Thats like comparing the Dow to the S&P 500 and IWM (ER2 )combined.

By the way for those who never seen it, this is where all the Fib numbers came from: Fibs.doc

nic, Where do you get the Fib Ratio of 87.5% ? The closest ones I know are 78.6% and 88.6%. One would arrive at 78.6% by taking the reciprical of 61.8% which is 161.8%, taking its Square Root equals 127.2%, then take the reciprical again equals 78.6%. And 88.6% is simply the Square Root of 78.6%.

That's right. By buying out-of-money BSC call options on March 17th and held through several overnights.:o

The sad part is you need $25,000 min. in your account to day trade the ETFs even if you trade only 50 shares, as per the Pattern Day Traders Rule. No wonder so many newbies blow up their small accounts in no time in Index Futures.

Once you are hooked up with IB feed, you can use Ninjatrader and Quotetracker,both are professional level programs that are basically free. Also if you use multiple monitors like I do, both of them have free floating charts. Halleuya !!!

That looks very good, but where would you enter ? A retracement from the large volume down bar ?