namstrader

I use the ZN for additional filter with the inverse relationship it generally exhibits with the equity indexes. I bet someday I will also migrate to it to trade.

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=msummary&cmd=show,iday[Y]&disp=SXA StockCharts.com with Market summary might be helpful.

I enjoyed learning from you and I will miss all your inputs and hope you return again.

same issue for me in recent weeks and yesterday I began using chrome also.

I use Snagit all day long. I use it to annote charts and review. I capture a screen shot of my charts or video a trade in real time. Then after writing notes all over the saved chart I then "Copy All" and then bring it over and paste to my EverNote. If you are not familiar with EverNote I would encourage you to check it out. With EverNote I save pages, pdf's and anything I want from the web and categorize. Everything I deem worthy of review and further study is all in one place and organized. All I need to do is click on the Category and all my own notes or other writings from Snagit, TL etc. is right there for me in my EverNote.

Here is an example.

Db, I want to thank you for suggesting the 5 second chart. I laughed at first and then I began to follow the 5 sec chart several weeks ago. I watch it regularly and I am amazed how the 50-61.8% fibonacci level is hit as pullbacks and then resumption of the directional trend occurs. Then I will also watch for the longer wave that makes up the smaller waves (primary trend wave), and when for instance the smaller wave's 50-61.8% fibonacci level is broken, for a possible contract being sold or an exit signal, I have observed often that price pulls back to the longer primary trend wave's 50-61.8% fib level and here is again a possible re-enter setup. My thoughts are that information at any lower time frame is not noise, but can be useful if interpreted correctly after many observations. I then also use several moving averages with the 5 second chart and feel a little more informed than confused. With your suggestion of the 5 second chart and being open minded, I discovered another view of the market that fits me and not others. Also your suggestion of the 5 second chart led me to become more aware of the 50-61.8% fibonacci level at this micro-level, and consequently I now watch them on the longer term charts with greater attention. I guess my comments are to impress upon others to be open minded and formless in our thinking and perhaps a silly path (prior assumptions) taken, can be quite fruitful, in a build-out that started from plain old curiosity. Thanks again Db

Thanks Steve46 for your excellent posts. Your insightful analogies and discussions about what it takes to become successful at this game have been very helpful for me. Hope that you continue further with your sharing with us struggling traders. Man, we want to be the quarterback so bad, and get off the bench but I have learned to flow and be patient and know that it is all coming together. You begin to see and anticipate likely events much better with time, and each year later I feel wiser, but I know one year later I will be at a better place again. No endpoint, just a cool journey acquiring trading wisdom and eventually I hope trading wealth. Knowledge of the game and self first. Trust has to rule fear and only time and experience offers newer awareness not seen on the charts yesterday. Most of my comments probably are nonspecific and full of fluff, but that's me. Thanks again.

This newsletter really has some meat to it, and I am glad I began to read it in the beginning and now I enjoy looking to read it each day and just spit out the bones which are few.

I ve been with Amp futures/Zenfire and Ninja. Most of these guys were former floor traders and a guy named Collins has been so helpful and supportive with any issues I had with Ninja charting setups etc.

I found this post on "Why Screen Time Is Important" interesting and have nominated it accordingly for "Topic Of The Month July, 2008"

Bootstrap, Your setup looks very similar to the RePo formation that is found in the Trend Dynamic course. When a previous low or high pivot swing is broken, the weaker holders are impaled and have been stopped out. Now the Seventh Law of Trend Dynamics occurs which is "Dramatic price movements tend to unfold from price structures that minimize profitable participation." This course really offers some excellent market principles that can bring a trader to a new richer understanding of price action and the transitional contexts of deceptions used by the tiny and successful minority of traders.

It is so informative for me with your analysis. It is amazing how a chart in the beginning of one's path reveals so little and with time and training, the depth of what is available on the chart for analysis, is far more than prior levels of development. From your sharing, Eiger, and others, it amazes me how little I knew about what a chart was saying from even several months ago.

From Phantom of the Pits: "So here is Rule Number one: In a losing game such as trading, we shall start against the majority and assume we are wrong until proven correct! (We do not assume we are correct until proven wrong.) Positions established must be reduced and removed until or unless the market proves the position correct! (We allow the market to verify correct positions.)" Changing our thinking from the majority of traders and knowing that trading is a losers' game and not a winners' game, I want to learn to be wrong fast and without hesitation and face the pain of a losing position with behavior modification that acts unlike the majority of traders. It is so hard to act like the 5% that know it is a losers' game.

I would like to share a chart showing how prices gravitate toward Market Profile recent POC's as targets for support and resistance. Shaded boxes are the daily VAH and VAL areas and each horizontal larger and smaller blue lines are all recent daily POC's. This is a 60minute 24hour chart of the YM contract. Many days I observe the blue line's being seeked as targets. There is a site that calls this VPOC or Virgin Point of Control that affirmed what I was seeing in my own studies before I came upon the site at Enthios. My visual helps me see likely price targets for the current day's trading.

We missed ya!

Check out the financial philosopher. http://financialphilosopher.typepad.com/

I watch these same internals and I like to watch the inverse relationship with interest rates (zn) with the ym. Also why not have the es,er,nz emini's up as well for general direction. How about a financial etf like (xlf) that often leads.

Db, or anyone else, I came across Hank Pruden's Wyckoff website and I would like to know what you think about this guy and perhaps you have read his book "The Three Skills of Top Trading" (there is a 16 page pdf that highlights it of sorts at his site).

I was a fan several years ago and was in to it then. I Began to learn other tools and left it. Now am bringing it back as another way to see the playing field. Thanks for the link to the presentation. I thoroughly enjoyed it and learned much more. Thanks Blowfish. I am a fan again after listening to Morge and getting some new setups to ponder. Hitting those lines with 80% likelihood after certain occurrences is something I want to watch and study more going forward. Also Morge mentioned how important playback is for all traders and to be serious about learning, or forget about it. He is smooth and I like to listen to him.

Yes I do just like woodie.

Here is the YM today April 22. I see many pitchforks all the time. This is from a 24H chart 5minute

The upper indicator is the CCI and the lower one is the RSI. When you see these trendline breaks of 4 waves on the RSI, is occasionally explosive in a reversed trend to follow. Basically it is a breakout from a channel and sometimes is more visual to me with the CCI and RSI with their observed patterns they show often. Also when I notice a 3 point line on either the CCI or RSI, this has shown a move is going to occur from the long side or short side. I like to watch for divergences also with price at pivotal areas of support and resistance. I played with watching the CCI and RSI for several years and I use to take signals exclusively from them. I no longer do this, instead it is just another tool that I have for confirmation or filter.

Tim Ord is his name and I found this attached pdf at his website to share. Stock and commodities July 2006.pdf

DB, I would guess that you are familiar with the Ord Oracle? Do you like his work? I want to again express my great appreciation for your work and sharing your knowledge. I am so glad I took the plunge to learn everything about Price and Volume that you have provided here at Traders Laboratory. It astounds me how seeing the territory and playing field is much more richer when incorporating your shared map for all of us to learn more from. Before my skills of reading a chart did not know what was really there to understand. You have given me more depth to conceptualizing what the hell is going on with more advanced ways to understanding Demand/Supply with Price, Volume and important areas of support and resistance. Thanks again!