Quote from OddTrader:
Theorectically, all indicators are about the same, as many traders use only prices without indicators.
Our applications of them to build a system would be quite different.
Quote from OddTrader:
If CCI (or any indicators) is the holy grail, those who use it wouldn't tell others nor promote it to the public with any specifics. Otherwise either early retirement or trading for donations to the needy charity bodies.
Quote from OddTrader:
CCI might be a little bit comparatively good for visual effects that could be useful to some pattern traders.
You may try www.woodiescciclub.com , of course this one as well http://www.elitetrader.com/vb/showthread.php?threadid=29876 .
Before one day finding out a holy grail, what we need is simply a system with some edges, that most likely would be told or discussed by others.
Quote from OddTrader:
I believe CCI has been around for some time now.
If any single indicator is the Best one, then no more other indicators would be used by any traders, then no more new indicators would be created, then every trader is competing each other within the domain of the particular indicator, then no one would be sure for the edges with it.
I wouldn't think we are in this status Yet.
Hey folks, I hope you all had a great weekend! I sure did, and upon my gf's convincing words, resisted the temptation of checking my positions over and over.Quote from Scientist:
I also re-opened my ES swing short, which I'm planning to hold for a while. Unfortunately, those stupid news yesterday (hunting ghosts again) shook me out, I'm still very bearish on the US economy, and this goes both fundamentally and technically.
Jay, can you just pull up the ES chart and draw the fib from the high to low on the medium-term daily... Then look at it on the 30m. You will see how the ES tested the 40% retracement 3 times, and rejected it every time... Man, if the ES totally refuses to break even the 40%, what does that mean? Bear-time!
I decided to go short next morning, and when the tapes showed rejection by 11:30 reversal time, I went short at 1120.00.
The short is starting to develop, and I believe it has plenty of downside. Within a longer timeframe, I think a 100 pt downside (1020) would be a modest expectation, 920 as the next lower is quite possible. But that's all a lot longer than I want to hold, anyway...
Currently, it looks a bit like ES has failed the 50% retracement on the monthly as well. Do you think this eternal bear market might continue for a lot longer?
Scientist
