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Evidentally I'm doing something wrong, CoolWeb. When I click on the Chat link at the top of ET's page, I see a long list of rooms, none of which is #Elitetraders. :confused:

what's the name of the chatroom?

right, I see the chat room link...but I can't find which chat room it is. I've looked in several. Do you have the name of the chatroom? Thanks, buzz.

how do I get into the chat room?

are you stopped out at b/e on the last two? congrats on a profitable opening, buzzman.

I didn't think porgie would show.

FORD - better than expected earnings.

Good Morning, Vol. Yes, I saw your post on the long at 676, and I good call it was! Now we've been up 40 points from there (716), and retraced 25 to 691. Or perhaps the 25 points down to 691 wasn't a retracement...perhaps it's the direction we're in now, meaning we go short around 701?

Will today be black Monday? (I'll gladly take a long signal today if offered....just pondering.)

Thanks!

Well put. And if all traders used the same calculation and time of day to determine pivots, they would be even more powerful. Ripley, on the YM, do you prefer pivots based on a 24 hour market or 9:30a-4:00p/4:15p eastern?

Let's say price opens around the PivotPoint (PP) and heads up. Resistence is expected at R1. A strategy might be to place a sell limit order at R1 with a 4-6 point stop and a 6-8 point profit target. The theory being that price either (1) turns around at the pivot; (2) stalls at the pivot or...

Ripley, I agree. And "magic" is a good word to describe how pivots work. They're leading rather than lagging indicators. It's uncanny how price either turns at the pivot, or at a minimum, loses momentum for a few bars. I assume their effectiveness is due mainly to self-fulfilling prophecy...

One factor causing higher volume in the ES would be arbitrage by the commercials. Another factor would be the timing of which instrument was available first. The ES had a big head start. But volume in the YM may be growing at a faster clip than the ES now. Most traders do find it easier to...

Quick question, volente. When you talk about 10:30 and 12:00, you're using Eastern time zone, right? The reason I ask is, I use 1 hour into market open (10:30 eastern) as a significant time to look for a reversal also.

My main strategy lately: trendline breaks on a 38 CCI using 500 tick chart of ER2. Am very interested in YM now, and would like to learn to trade price action rather than indicators. I'm going to be doing some backtesting today on your Rule of 20, volente. Any specifics or nuances you can...

01/01/2005 through 01/20/2006 Mondays: 25 up days, 21 down days (4 more ups than downs) Tuesdays: 26 up days, 29 down days (3 more downs than ups) Wednesdays: 30 up days, 25 down days (5 more ups than downs) Thursdays: 29 up days, 25 down days (4 more ups than downs) Fridays: 29...

Many, many thanks, Sevenfirs, for taking the time to type all of that out. I'm one year into the journey, so if you're correct, then it's only 1-2 to go. Actually, I think I'll be consistently profitable by the end of February 2006. (now it's public!) Thanks again for all the info.

Thanks, volente. I had done a search but found limited information. But the concept itself is very helpful to me and I appreciate you sharing it. I'll be watching it during the trading day now as well as going back over old charts. Thanks again. Looking forward to your posts.

Osorico, Thanks anyway friend. Some others have offered help. But if you have a change of heart, I'd value your experience as well since it appears you have certainly found your edge. For what it's worth, I'm not a lazy mooch that just woke up yesterday and decided to trade futures...