CL Redux

Quote from NoEmotions:

so far +50
morning I had few trades went 200, but I was greedy wanted more , ended up losing 100 on each. lately I have been BE alot ( after +10 ticks i use to stop BE ) , so I thought give me or take it. Only if I knew today is going to be slow day i would have taken all those sim 200's.
later I took some trades for +100's.

How soon did you guys figure out its a small range day ?
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About an hour into the S&P open it seemed clear to me that, barring any news coming out from the G-20, we were stuck in a range and all the action you could hope for was a stop run on its edges.

Things to look for:

- mixed indexes (NQ up, ES down, etc.); mixed stocks, mixed markets (oil up, gas flat, heating oil slightly down or viceversa); mixed forex (i.e. other than JPY); mixed metals; http://www.elitetrader.com/vb/showthread.php?s=&postid=2989449#post2989449

- low to moderate volume (Herr Kid indicated this early on), particularly on the range extremes (not one single >10,000 5' bar today - highest about 6,000) http://www.elitetrader.com/vb/showthread.php?s=&postid=2989360#post2989360

- inside day, within yesterday's range (on top of this, we were inside yesterdays MP value area that Mr. Bo chin pointed out at the beginning of the session). http://www.elitetrader.com/vb/showthread.php?s=&postid=2989226#post2989226

- market fluctuating around your moving average of choice (or, in my case, TICK fluctuating around 0 and mostly contained by +/-400)

- ATR below average for the time of day and particularly low ratio between 5' and 60' (or some shorter/longer timeframe combination)

- Nodoji chiming in in the middle of the session :D (however, if it is to announce she's taking a break from her screen, then, double quick, enter OCO stops a few ticks above and below the market! :p)

- People posting videos/images of puppies and/or half-naked women

- etc.


Edit: Kid, then it's up, right? :D
 
Quote from Picaso:



Edit: Kid, then it's up, right? :D
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my guess is a close at 81.

TGIF, I miss Friday drinks, such a lonely job :(



btw good post Picaso. Here's a tip, get picture software like Snagit and have one hot-key profile that saves to a journal folder with auto date. So every time you see an informative post or chart you can snap an image quickly of it.

edit: close at 8160 :)
 
Quote from EON Kid:

my guess is a close at 81.

TGIF, I miss Friday drinks, such a lonely job :(



btw good post Picaso. Here's a tip, get picture software like Snagit and have one hot-key profile that saves to a journal folder. so every time you see an informative post you can snap an image quickly of it.

<u>edit: close at 8160</u> :)
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Cheater! :p

Damn, it looks it's going up a bit after all - if it breaks 40 maybe a little pop and then maybe another pop as people close shorts before the G-20 weekend, but may be just a trap to get the bulls.

(Thanks, Kid)
 
Quote from Picaso:

- Nodoji chiming in in the middle of the session :D (however, if it is to announce she's taking a break from her screen, then, double quick, enter OCO stops a few ticks above and below the market! :p)
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I actually stepped away from my desk today and nothing happened. :eek:

Mr B, I agree sometimes no trade is the best trade.
 
Quote from NoDoji:

I actually stepped away from my desk today and nothing happened. :eek:

Mr B, I agree sometimes no trade is the best trade.
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Here we go, 81.74, depends of the price action might fade it.
 
Exit .75 finally


startraitor


Registered: Jan 2008
Posts: 2494


10-22-10 10:28 AM

looking for 82 area if the range doesn't die.





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Quote from startraitor:

long 81.05
 
Ok
To close the day.
I didn't make any trades today just observed, and wasn't convince by any of the moves, but for Monday I think this could help.

Value Area shrink compare to yesterday, which suggest we are changing direction, but also it the Value Are of today 81.42-80.82, it's inside yesterday Value Area which also suggest congestion and changing soon of direction......if I refer to the last point of control 80.63 and 81.16, seems we are set for a push upward.......plus we closed above Value Area today.

When we look at the day to day chart, seems at least for now that our bottom is in 80-80.15.....last but not least is VPOC @ 83.46 waiting for us Monday.

Good luck all and have a good weekend.
Tomorrow is my birthday so hopefully I will survive the partying of this week :D :D
 
Quote from mrbochin23:

GM everyone.
Value Areas for today if you are interest it:
VAH=81.74
PoC=80.63
VAL=80.15
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MrB ( Happy Birthday, May all your wishes come true )

I am trying to figure out POC, VAH and VAL.
I do not want to program something which is readily available. If you can let me know where I can get them.
i want to backtest the VA levels with market reaction the following day.

Your values are calculated using Volume/price or time/price?
also do you take into account 24 hours of trading or 9:00am to 2:30 pm.?

Tradestation has something called PriceDistribution which I think uses Price and Time to create the profile ( It does not include volume ).
so using Ninja trader I run prev days replay and accumulate volume for each price level ( no time, just price and vol for 24 hrs ).
e.g for PA of10/21 3 highest vols were for POC = 82.2 ( vol = 2954 ), 82.1 ( vol = 2848 ) and 80.65 ( vol = 2902 ) .
 
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