Busy Day Tomorrow

[GammaJammer 10]

Anna-Maria reckons real money (asset mngrs) $ buyers started sniffing earlier as prices backed off the highs.

 

Time to sell $$'s again then huh :o

 

Well real money would likely be buying dollars at the lows and selling at the highs today. Sort of day when they're more likely to be re-balancing than adjusting genuine alpha positions imho. And as the US pension funds are dominant, that means they're likely a good chunk of the dollar buying this morning.

 

That said, there were some overlay players out there on the break above 00 in eurusd I hear, just not in numbers.

 

GJ

[GammaJammer 10]

 

I don’t really like the look of that EU/AUD long Gamma. Those prev 2 daily bars are angry looking critters. Seems like they want to see the color of those underside stops to me.

 

I’d prefer to see a little higher low block building (at least via the 15/30m) exercise going on with that pair before committing, but that’s just me.

 

That’s a nasty looking hourly descent there don’t you think?

 

Can't fault your logic. I am however an inveterate contrarian for a start, so that does tend to colour my view (sometimes for better, sometimes for worse). In any case, having thought about it, AUD/CHF seemed a better way to play it.

 

But totally agree with you still about the need for constructive price action before you jump in. Otherwise, who the hell cares in this market that you sudenly said that you have this view or that view. I'm not gonna send out a reccomendation and it's suddenly gonna be a talking point across London and NY There are people out there like that (Medley, FX Concepts, CitiTechs etc etc) but I'm sure as sh*t not one of 'em.

 

GJ

[Sledge 13]

Let you in on a little secret. I got 3 maybe 4 hardline technical set ups - period. To be honest anyone could make a very good living off 2 if you use them correctly.

 

We got friends & family who sit at home with a 3-4 screen combo...couple Grade A set ups & their favorite handful of pairs.

 

They spend most of their time sitting on their hands. Couple times during the week along comes a sweet little thang & they hop on it.

 

If it dies, they get the hell out & wait for the next one. If it don't, they run the son of a bitch as long as they can & hop off again.

 

It's mostly 60 & 240m template signals with a 15m for picking off the cherries.

 

Ok- How much do I have to pay for the keys to the secret?

 

The chair is irrelevant. It's what you do when you're sat in that counts, & that chair can be in any place you like

 

Fair enough! I want my butt into that seat. I think I'm getting there and growing every day. I have been posting here in the thread and have been learning daily from all the far more skilled minds! Just hoping the window washer will get here soon- I can see the world of potential- but the glass is still a little bit dirty :o

Aaron

[Jocelyn 10]

Otherwise, who the hell cares in this market that you sudenly said that you have this view or that view.

 

There are people out there like that (Medley, FX Concepts, CitiTechs etc etc) but I'm sure as sh*t not one of 'em.

 

:o

 

I like your balance!!

 

Views are only as good as the money layed down to back them. I'm damned if I'll allow a view to cloud my Jimmy Choo money anymore. I've been slapped too many goddamn times out there to be fussed bout proving how accurate I can call a level.

 

Leave that to the smart faces & those who get paid a salary come what may

[wasp 10]

Let you in on a little secret. I got 3 maybe 4 hardline technical set ups - period. To be honest anyone could make a very good living off 2 if you use them correctly.

 

We got friends & family who sit at home with a 3-4 screen combo...couple Grade A set ups & their favorite handful of pairs.

 

Glad to hear I'm not the only one like that, despite my little display earlier getting scuppered by the 162 level! :embarassed:

 

I find reading all this from you guys and galls and now GJ too fascinating but I find with just my trusty laptop and a 240m with a 60m chart, concentrating on just a selection of markets that move (Damn you eurjpy today!) is a viable little setup. I only look for certain setups and criteria and it certainly pays the bills...

 

They spend most of their time sitting on their hands. Couple times during the week along comes a sweet little thang & they hop on it.

 

If it dies, they get the hell out & wait for the next one. If it don't, they run the son of a bitch as long as they can & hop off again.

 

It's mostly 60 & 240m template signals with a 15m for picking off the cherries.

 

That's it in a nutshell I think. Simple, sweet, short and sharp. In and out and picking the cherries. Cut them losses and wait the next opp.

 

The chair is irrelevant. It's what you do when you're sat in that counts, & that chair can be in any place you like

 

I find a hammock works well!

 

Like our Poppa often reminds us: "in this business less often = more"

 

How do you think you all would do if you had none of the extras you do? Just a chart and the TV for company....?!

[Jocelyn 10]

Ok- How much do I have to pay for the keys to the secret?

 

There are no secrets out there sweety, no holy grail buckets full of magical "9 from 10 winners" or any other snake oil tid bits either. Everything gets re-gurgitated if you sit & wait long enough :o

 

Most of the regular ticket returns out there are so simple & basic they'd knock you over with a feather, they really would.

 

Here you go look - here’s that lil darlin I mentioned back up the thread. Jimmy got this sexy little mover off a buddy of his & it’s surprising how often it comes into play during a typical week. We keep a screen running with a few of the heavier average daily range pairs flickering away all week drilled down on a 15m frame with this set up in situ.

 

Couple of my buddies who play p/t from home have batted it around for ages.

 

As price begins sniffing a supply or demand, minor supp-resist or range extreme, whatever, someone here will take a glance & see what’s occurring.

 

Usually, it’ll register a potential (early bird) signal, which if the level is a particularly juicy cherry, can be actioned. Sometimes it will act as a feeder stake (to be jobbed at), other times as a stand-alone possie.

 

The principle can be utilized across the complete range of timeframes.

 

Basically, you’re looking for a bar to close outside the upper/lower Bollinger edge. The next bar requires to close inside & your trigger bar is the one which registers the Cci above/below the 100 line to leg you in.

 

You can look for divergence to add a little flavor & if you know the mechanics of Bollinger Band observation, you can use it to leg you into breakouts & compound entries via the mid band bounce.

 

Anyhow there she is. If you were expecting some mysterious & magical previously unheard of pip collecting one arm bandit, then you're gonna be awful disappointed :o

 

Use it or can it.

[wasp 10]

Ok- How much do I have to pay for the keys to the secret?

 

Keep an eye on my journal, there will be plenty of simple and unbelievably basic price based setups in there, anyone can knock 'em out!

[Sledge 13]

There are no secrets out there sweety, no holy grail buckets full of magical "9 from 10 winners" or any other snake oil tid bits either. Everything gets re-gurgitated if you sit & wait long enough :o

 

Most of the regular ticket returns out there are so simple & basic they'd knock you over with a feather, they really would.

 

Here you go look - here’s that lil darlin I mentioned back up the thread. Jimmy got this sexy little mover off a buddy of his & it’s surprising how often it comes into play during a typical week. We keep a screen running with a few of the heavier average daily range pairs flickering away all week drilled down on a 15m frame with this set up in situ.

 

Couple of my buddies who play p/t from home have batted it around for ages.

 

As price begins sniffing a supply or demand, minor supp-resist or range extreme, whatever, someone here will take a glance & see what’s occurring.

 

Usually, it’ll register a potential (early bird) signal, which if the level is a particularly juicy cherry, can be actioned. Sometimes it will act as a feeder stake (to be jobbed at), other times as a stand-alone possie.

 

The principle can be utilized across the complete range of timeframes.

 

Basically, you’re looking for a bar to close outside the upper/lower Bollinger edge. The next bar requires to close inside & your trigger bar is the one which registers the Cci above/below the 100 line to leg you in.

 

You can look for divergence to add a little flavor & if you know the mechanics of Bollinger Band observation, you can use it to leg you into breakouts & compound entries via the mid band bounce.

 

 

Ha! I know there isn't a holy grail- I'm not brand new to this rodeo :o

But THANK YOU. If I am able to get 3-4 set ups in the arsenal, that is all I really want. Your cohorts have repeated over and over to just make it simple. I think me brain gets all awash from time to time.

 

The tip on the early bird signal is priceless though- never heard anyone actually discuss this in all the reading I have done.

 

What if I don't use Bollinger bands, Divergence or CCI? I tend to have a bar chart up and Volume (before the :helloooo: I know you folks don't use volume as and indication at all) If I strictly utilize Price Action, Volume and Reading the bars- I can only assume these principles will still apply?

 

Aaron

[GammaJammer 10]

Well what Jocelyn is talking about certainly makes sense to me in current market conditions - plays into your hands if a lot of people are stopping themselves out when moves fail to continue - false breaks are absolutely killing a few people out there these days.

 

Not so sure about jobbing into a breakout that way myself, although that's not to say it can't work. Something to look at. Back to looking at correlations now until I go home. Figured AUDCHF / VIX would be a bit higher than it is. But stil people are starting to talk about it (VIX) now, and I have a feeling there's a chunky move not too far away. But first gotta step away and get myself a drink and stop staring at the screen for 5 mins as my eyes are actually starting to water. Not good

 

GJ

Edited May 19, 2008 by GammaJammer

[Sledge 13]

Keep an eye on my journal, there will be plenty of simple and unbelievably basic price based setups in there, anyone can knock 'em out!

 

Wasp-

Are you keeping a blog here on the TL? Point me to your journal my friend!

Aaron

[wasp 10]

Wasp-

Are you keeping a blog here on the TL? Point me to your journal my friend!

Aaron

 

I am but its messy atm. I'll alert you to when there are some good snippets! I'm in the process of posting my analysis at the end of the week and it'll show 15 year old tried and tested setups again and again and again...... :o

[Sledge 13]

I am but its messy atm. I'll alert you to when there are some good snippets! I'm in the process of posting my analysis at the end of the week and it'll show 15 year old tried and tested setups again and again and again...... :o

 

NICE! I look forward to taking a gander!

Aaron

[Jocelyn 10]

 

How do you think you all would do if you had none of the extras you do? Just a chart and the TV for company....?!

 

Hi Wasp,

 

You fella's from the other site sure have some cool handles. You'll have to excuse our lack of inventiveness where nicks are concerned, we don't get out much

 

We would do just fine my friend, just fine.

 

I see the same price as you.

You can plot a supply & demand zone or line just as easily as I can from the exact same data.

You got bars & candles on your software just the same design as I have.

You can fire off a buy or sell clip loaded with a bullet full of booty just as effortlessly as I can.

 

There's so much quality information out there these days for everyone to assemble. Prices are tight due to the sheer variety & depth of available content. There's never been a better time to set your stall out.

 

If you've got a good framework, a balanced attitude, common sense & the ability to filter information then the rewards are truly unlimited.

 

The good news is this business attracts all kinds of weird & wonderful characters :o

 

There's always a regular flow of naive & totally unprepared punters to feed off.

[wasp 10]

Hi Wasp,

 

You fella's from the other site sure have some cool handles. You'll have to excuse our lack of inventiveness where nicks are concerned, we don't get out much

 

That 'other site' was limited in trading talk so you had to entertain yourself somehow!! Anna-maria came up with one but see she didn't bother here

 

We would do just fine my friend, just fine.

 

I see the same price as you.

You can plot a supply & demand zone or line just as easily as I can from the exact same data.

You got bars & candles on your software just the same design as I have.

You can fire off a buy or sell clip loaded with a bullet full of booty just as effortlessly as I can.

 

There's so much quality information out there these days for everyone to assemble. Prices are tight due to the sheer variety & depth of available content. There's never been a better time to set your stall out.

 

If you've got a good framework, a balanced attitude, common sense & the ability to filter information then the rewards are truly unlimited.

 

don't you utilize more information or you just all looking at these pretty bars going up and down too then?! :o

 

The good news is this business attracts all kinds of weird & wonderful characters :o

 

There's always a regular flow of naive & totally unprepared punters to feed off.

 

:o classic! ... and so true!

 

good trading!

[Jocelyn 10]

That 'other site' was limited in trading talk so you had to entertain yourself somehow!! Anna-maria came up with one but see she didn't bother here

 

don't you utilize more information or you just all looking at these pretty bars going up and down too then?! :o

 

Ahh, yes she's a worldly wise trading journey(wo)man who thinks nothing of elbowing her way into all sorts of dingy dens of iniquity :o we're not so adventurous I'm afraid. And judging by the activity today, I'm not surprised.

 

My head & keyboard fingers are hurting. This forum chatting lark is virtually a full-time job. My lord, I'll have Mr Krantz docking my ticket if he opens up this page & counts my roll call this afternoon :\

 

Regards the info or lack thereof: Sorry, I meant that if we were both chalking off a blank canvas, working our ticket out of a home office, then we'd be utilizing pretty similar info streams?

 

However, like I said; the variety of quality information (squawk, sheets etc) out there these days is certainly within the reach of a well organized & switched on retail operator.

[Jocelyn 10]

 

What if I don't use Bollinger bands, Divergence or CCI?

 

If I strictly utilize Price Action, Volume and Reading the bars- I can only assume these principles will still apply?

 

It was only an example of a set-up/trigger Aaron. If those price aid combo's aren't to your liking, then fair enough. The point I was trying to make is, there are numerous little pearls one can assemble to take advantage of a specific short or mid term play. That's merely one which I particularly enjoy batting around when circumstances dictate.

 

Yours could be on a similar theme or completely different. The important thing is, whatever you use needs to suit your style, comfort zone & risk profile.

 

Folks will often take a set-up & strip it back. Bin one piece & replace it with another. Mix & match the base of a set-up with something they find useful & responsive.

 

As long as it does what it's intended, then all good & well. If you use price & volume in harmony with bars on & around key levels or zones, then you need to get that gig nailed down real tight.

 

You should be able to open up your tech graphs, flip through your timeframe menu & quickly adjudge whether you're good to go or not according to market conditions.

 

If you got your strategy well & truly wired into the mains, then you'll easily recognize your Grade A playing field by the way the techs are playing ball.

[torero 10]

Hi Jocelyn, nice to have you join our thread. Looks like today was another range day. These seem to waiting for happen first before anyone wants to kick in. I'll wait on the side lines in the meantime.

 

You by any chance the sis of Anna-Maria?

[Anna-Maria 10]

Can't fault your logic. I am however an inveterate contrarian for a start, so that does tend to colour my view (sometimes for better, sometimes for worse).

 

In any case, having thought about it, AUD/CHF seemed a better way to play it.

 

You'd hit it off well with our Poppa then. I'm certain that old poop goes out of his way to ratchet a contrarian angle every chance he gets

 

That AUDCHF is a very neat technical play indeed. I guess you been running it from last week? Nice shift thru the gears @ .9800 via the pullback from early month. Be interesting to see who comes out to play up here @ 1.0100.

 

Looks like you might get a better value bite at your EURAUD yet

They're definitely trying to cut a base out down there. Certainly in no hurry to plumb the depths of sub 1.6200 today anyhow.

 

Agree with little sis though, I'd prefer to hang my hat on a more substantial peg for a trip back up.

 

Good luck & good trading (with either or)

[Anna-Maria 10]

You by any chance the sis of Anna-Maria?

 

She is indeed torero.

 

Apparently there's another one (Tess) waiting in the wings too.

 

Think I'll arrange a jawbone gig with Soultrader & plump for a hostile buy-out play :o

[Anna-Maria 10]

This forum chatting lark is virtually a full-time job.

 

My lord, I'll have Mr Krantz docking my ticket if he opens up this page & counts my roll call this afternoon :\

 

Duly noted.

[Kiwi 16]

Sledge,

 

Re the CCI/Boll you can get rid of the CCI if you can internalize what a CCI divergence is by understanding CCI.

 

A straight momentum divergence occurs when you get the range over X bars being less then the range over X bars in the previous high (so it didn't push as hard this thrust to get there).

 

A CCI divergence adds an extra flavour because everything is normalized by "md1." md1 is just the difference between the median price and the CCI's underlying sma over the last CCIlength bars. This gives CCI a flavour in divergences that you might not see in rsi, mom or macd divergences. In Jocelyn's example you can see how it sets up because the first peak is a pop out of very small range probably close to a 14sma and the second peak is preceded by bars that are much noisier and probably further from the sma.

 

When you try and integrate that with your brain you will see why, for some things like filtering setups, indicators can be very useful. By all means trigger on price action but filtering for behaviours can be much easier with well understood indicators.

[Sledge 13]

Sledge,

 

Re the CCI/Boll you can get rid of the CCI if you can internalize what a CCI divergence is by understanding CCI.

 

A straight momentum divergence occurs when you get the range over X bars being less then the range over X bars in the previous high (so it didn't push as hard this thrust to get there).

 

A CCI divergence adds an extra flavour because everything is normalized by "md1." md1 is just the difference between the median price and the CCI's underlying sma over the last CCIlength bars. This gives CCI a flavour in divergences that you might not see in rsi, mom or macd divergences. In Jocelyn's example you can see how it sets up because the first peak is a pop out of very small range probably close to a 14sma and the second peak is preceded by bars that are much noisier and probably further from the sma.

 

When you try and integrate that with your brain you will see why, for some things like filtering setups, indicators can be very useful. By all means trigger on price action but filtering for behaviours can be much easier with well understood indicators.

 

Kiwi-

Ahh, I see she is saying not to use CCI perse, but maybe use it temporarily to train my brain to the action? Then after I "get it" I can ixnay the Indicator at the bottom of my charting package?

Thanks for putting it into perspective! I guess I didn't quite understand that was what she was getting at!

Aaron

[GammaJammer 10]

Well one could say that about most (some people would even say all) indicators surely?

 

GJ

[Kiwi 16]

Some are easier to see GammaJammer.

 

With macd divergences its the difference between two mas and its easy to see.

 

With cci because the basic is close vs ma of hlc (like a macd 1,14 where the 14 is simple) and then you divide by the md1 normalizing factor it almost squares the diverging effect ... so you get divergences you can't see by doing "bar movement counts." As someone who watched CCI for about 4 years in real time I still can't see the CCI divergences consistently without it - but I don't trade divergence so I got rid of the CCI anyway !!!!

 

Now if I could just get rid of those two pesky emas I keep using.

[Guest forsearch]

Some are easier to see GammaJammer.

 

With macd divergences its the difference between two mas and its easy to see.

 

With cci because the basic is close vs ma of hlc (like a macd 1,14 where the 14 is simple) and then you divide by the md1 normalizing factor it almost squares the diverging effect ... so you get divergences you can't see by doing "bar movement counts." As someone who watched CCI for about 4 years in real time I still can't see the CCI divergences consistently without it - but I don't trade divergence so I got rid of the CCI anyway !!!!

 

Now if I could just get rid of those two pesky emas I keep using.

 

CCI relies upon the statistically useless "average deviation of price" in its calculations, not the much more statistically valid "standard deviation" instead.

 

Just thought I'd point that out.