Search results

Agree about Alan's site and would especially recommend his new book The Master Swing Trader ---- superb stuff from a real pro.

Turtle Soup is the invention of Larry Connors and Linda Bradford Raschke, detailed in their book *Street Smarts*. Basically it involves fading breakouts (and breakdowns), and is similar to the B2B pattern well-described by Victor Sperandeo in his Trader Vic volumes. Turtle Soup gets its name...

I second Lancer's excellent post and have a few observations especially for futures traders. 1) Post- (and pre-) market price surges and plunges occur because those relatively few people who are trading then often want to do the exact same thing ---- buy or sell -----simultaneously...

Fienyx ---- Barron's is an easy way to check the standard weekly and biweekly sentiment indicators every Saturday. They are all listed together near the back of the Market Watch section. Put/Call ratios are available from a variety of sources ----- the best is the CBOE's own web site...

I do wish to emphasize two things things about scaling out of positions. First, ultimately it all depends on whether you have what Tharp calls a positive or negative expectancy. If you have a losing system or method (or, in most cases, no disciplined method at all), then scaling out of winners...

Mjt ---- I might suggest you reread Tharp's excerpt and then test his proposition yourself. I've run several dozen 500-1000 trade simulations on the S&P over many years and in each one Tharp's position is proven correct, often by a big margin. As to whether markets trend more or chop more...

We've reached a good resolution here I think --------- I believe Tharp is irrefutable on this issue mathematically, though for many traders Archangel makes an excellent psychological point. Personally, I trade ala Tharp, he is correct from an optimal expectancy point of view, especially because...

Excellent commentary this afternoon about QQQs and NQ futures by Don Miller at tradingmarkets.com ----- must reading for Cubes daytraders.

To the best of my knowledge, Bernstein's survey is the only available one that measures trader sentiment daily (though I believe he samples afternoon opinion after the close and not morning opinion just before the open). There are several weekly and biweekly sentiment indexes which are widely...

I believe the Daily Sentiment Index (DSI) is a proprietary indicator of Jake Bernstein. You would have to pay to receive it or subscribe to one of Bernstein's services ---- one of his several web sites can be found through any search engine. I've never used it and have no opinion about it.

Futures symbols: ES - E-Mini S&P SP - Big (full contract) S&P NQ - E-Mini Nasdaq 100 ND - Big (full contract) NASDAQ 100 quarterly symbols are: H ---- March expiration M ---- June expiration U -----September expiration Z ---- December expiration Depending on your service...

Bob ----- Personally, I'd never remotely consider daytrading the QQQs without watching both ES/SP and NQ in real time. I trade only ES, and watch only ES/SP and NQ prices second by second. Dustin is talking about tick by tick movements in the futures, and often in fact ES/SP does lead both NQ...

I would also strongly recommend a subscription to tradingmarkets.com --------- Superb commentary, several very useful proprietary indicators and great message boards, very active during the trading day. Haggerty is a brilliant technician and demon daytrader, but he takes some getting used to as...

Hitman ---- Enjoyed your post again. I trade S&Ps exclusively, and might suggest three things: 1) support/resistance on index is tentative ----- Neither in trading futures or using the futures as a leading indicator for stocks would I recommend trying to pick a support bottom or resistance...

Hitman ----- I appreciate your honesty, and enjoyed reading about your trading day. We've all been there. For what it might be worth, I do have 2 suggestions: 1) revenge trading (trying to get back losses or make up for missed opportunities) against the market almost always loses...

Caro --- A futures contract reflects not only the underlying value of a commodity, index or currency but also incorporates an added premium based primarily on the interest it would possible to earn if T-bills were held in lieu of the contract to its expiration. (Also, there's a slight premium...

Wow, White ---- thanx for that tip. I was a bit skeptical, but looking over a year of S&P charts you are right on -----there's unquestionably a disproportionate number of outright lows or at least swing lows at those times, especially between 2:15 and 2:45 ET.

If NQ01U doesn't work, try NQ U1.

Agree with tntneo ---- Don't use ND because it often lags NQ by as much as 15-20 seconds ----- not only is it pit-traded, but the contract size is so huge that volume is significantly less than NQ. ES and SP are more nearly interchangeable ---- SP sometimes lags ES by 5-10 seconds, but it's is...

Symbols are NQ M1 (for e-mini Nasdaq), soon to be NQ U1 after next week's rollover, ES M1 (for e-mini SP, soon to be ES U1), SP M1 (for big S&P, soon to be SP U1). E-Signal gives instant price updates with each trade (no need to refresh, the trades come at you frenetically enough as it is!) and...