OAC

Suri, Tim Morge, the Median Line expert uses 10,000 volume bars for the S&P. And our local expert, Steve46 uses 2400, 10,000 volume bars for his pattern recognitions. Do you find any value in volume bars in your work with Harmonics ? Thanks and Welcome Aboard

Actually the intraday action has been pretty normal since the open. The idiots at IB should really double the overnight margin and kept the intraday margin the same.

May be you can buy him out. Just my 2 cents

James_GSX, How is this guy doing ?

You are dead right about that.:thumbs up: As Michael Douglas said in the movie, "Wall Street": Sheeps Get Slaughtered.

You forget the other component of this popular set-up which is ADX>30. When Dogpile was around, a lot of his set-ups were along this line. Palin influence ? No, LBR influence, Trader with lipstick. She also has a set-up called short-skirt which is also a pullback set-up similar to the one above. Hey she named it, I didn't.

How about firms like Amp and Global Futures ? Do they still keep their intraday margin at $300-$400 per contract ?

I don't know how many people would agree with me here, your charts are hard to read, you need to get rid of some of the cluttered lines. May be you should use something other than Pevasento Patterns from Ensign ?

They may be very common price action strategies for you and me, but very foreign to 99% of the members here, sad to say.

This is a good blog to check out : http://www.tradingwhatisee.com/about/

Great! Lets start a Market Geometry Forum.

Simple solution yes, simple implementation no. You still need 10,000+ hours of screen time.

On its way down yesterday, the ES made quite a few single prints between 1273-1275. On the rally up this morning, those singles did not offer any kind of resistance at all. Can any MP devotee explain this to me ?

Don't want to sound too harsh. But if you were a rookie starting out at a proprietary firm, they would tell you the samething.

Who watches CNBC ? Old ladies buying 100 shares of DIA or QQQQ ?

Blu-Ray makes plenty of money trading. You can't pay him enough. :o

No personal offense, but 17 years does not mean you may not benefit from advice from someone with less experience. we are very often too close to the trees to see the forest. For instance, our Wyckoff devotees on this forum would have a huge problem with your almost total exclusion of using natural horizontal S/R levels.

Looking back, today was the strangest option expiration day that I have ever witnessed. It all started last night during globex session. At about 9pm EST usually a very quiet period, as I was looking at some long-term charts on my computer, both ES and YM started exploding upward. I thought to myself, that is indeed strange. If there was an unexpected international event, it is usually negative, but what possible positive news could there be when only the Asian markets were open? Then all night long the US index futures were having wild swings that basically led to nowhere. Then the regular trading session opening today at 9:30 EST was the most treasurous that I have ever seen. It immediately shot up at great speed to surpass globex high only to be followed by an even more speedier collapse. Then there was more wild swings until 11am EST. By noon time the volume and the pace was back to normal. After 1pm EST, all the volume dried up for the rest of the day as if all the options expiration unwinding activities finished early. Not only that, the average volume during this period were well below that of a a normal day. Anybody has a good explanation for all this?

This is my advice to the newbies, please keep an open mind. Don't fall in love with Market Profile or VSA, although they are the most popular on this forum. Most of us trade the index futures market and this market has taken drastic changes in the past few years, and what used to work don't work any more. It is my opinion that a lot of these examples only look good in hindsight. I am going to stick my neck out and say this: you can't make money in this market being a Market Profile or VSA purist. The reason is that they may be effective trading tools but way too vague if just used by themselves. You need much more precision to survive in today's fast market that is dominated by computers. And one thing that has not changed is the price action. It is still the undisputed king and discretionary trader's best friend.

This thread was started in May. Some of you may not be aware that since last month, we instituted a new policy of not allowing new thread like this one that solicit opinions on vendors. but we do have a section that has review of brokers and software. Even though Tom Busby is marketing his own piece of software here, but it is more about his methodology and training both live and online. So unless you guys have something to add, I am going to close this thread. Thanks

The fact is I have been to two of Busby's webinars , read his book, "Market Never Sleeps" ,and read 4 lengthy posts byTraderguy101, I have not gotten one single good idea that has helped me in trading the market. The only thing I got from Tom Busby toward the end of a live Saturday webinar was a hot tip as he put it, if the Dow e-minis does such and such between the hours of 6:00pm to 8:00 pm the following Sunday evening, then go long with trailing stop at x. Guess what, it didn't work.

Nvesta81, Here what Linda Bradford Rasche has to say about mechanical systems in her article on Tape Reading: "I've known hundreds of professional traders throughout my career. I don't want to disappoint you, but I know of only two who where able to make a steady living for themselves with a mechanical system. (I am not counting the well-capitalized CTA's who are running a money-management program with "OPM" - other people's money.) All those other traders used some type of discretion that invariably involved watching the price action at some moment - even if just to move a stop up or down. If you can learn to follow the price action, you will be two steps ahead of the game because price is faster than any derivative. You may have heard the saying, "The only truth is the current PRICE." Your job as a trader will become ten times easier once you accept this. This means ignoring news, opinions, and personal biases "

I don't disagree with what he said, where did you get that idea ? All I said in the previous post was , Busby came across like a salesman.(based on the two free webinars I have attended)

If you google "Tom Busby Trading", this thread comes up #3.:o

I think your comment would be 100 times more convincing if this wasn't your first post ever here at TL.