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Do you have a separate numbers when high of the day and low of the day are completed ? My guess is that highest% of high's or low's is in by 2:30 Walter

Thanks, 1/ Scalping is for experienced only, not for you 2/Put your money in the bank and educate yourself first. 3/ Pick one market , develop trading method , backtest it then trade it on a simulator . 4/When you think you are ready open 5K account and if you lose it do not trade till...

Thanks for emails and pm. I will try to respond to all by tomorrow. Walter

It is just amazing to me that some people actually saw Dow go up today, which would be fine, considering their IQ, but they also posted it and vigorously defended their view. Stupidity of such magnitude should be treated by placing them on ignore list. For those who are active traders and...

Office party already ?

On Friday I said that Dow will go down after 9:50 . Dow went down 9:49. End of story. Market has its own rhythm and some people can follow it and some cannot. Look at the charts and try to figure it out how and why market turned there . You have probably same charting service as J.Stock...

What did you sell ? Putts, Calls ?

Brilliant analysis straight from the top think tank at Bright Trading, any updates ? Thanks, Walter

1 min chart shows 9:49 as a minor top and there was a couple points to be made on downside. Reason for this post was to show that pure TA works even if used in unorthodox way .

Try to add exit rule based on average trading range, at20% of ATR exit one contract, at 30 % of ATR exit second one or any variation of it. If you like it, let me know how will this compare to your original system . Walter

First casualty of war is the truth....

I take past 2 hours of price action and treat it as a separate entity. Then I use TA to see If price is overbought , like on Friday IMO, and then I try to find where reversal might occur. You can use any cycle method, triangles are the simplest one IMO. 9:50 is my time for Monday, but...

According to my analysis , I see Dow go up till about 9:50 at most and then drop off, below Friday close . Walter

All above . You have to forget about being able to pick just a big move out of many moves happening all day, but you can eliminate losing trades below 20%. It is a lot of work initially but it is a only way IMO . Walter

Cycles and trendlines . That's all. Walter

Looks like a sell to me.

Did anybody buy this morning ?

If you hold position longer then 30 min, and you are really good with picking direction, your stop should be 5-6 points . If you just trading reversals, 2 points is plenty. Walter