Es - 10/29/03

funky · Oct 29, 2003

Quote from dbphoenix:

You'd have to use yesterday's highs for the "pivots", i.e., price S/R rather than the calculated pivot levels. That would have been worth 7pts on the NQ.

for sure...my strategy just dictates that if the 945 reversal isn't there, i wait until 1030....precisely because of this type of day....no news is bad news!

pspr · Oct 29, 2003

It's the solar storm short circuiting trader's brains today.

JackDaniel · Oct 29, 2003

Quote from Fast_Trader:

Actually...I'm sure that's all from the Short side :eek:

-Fast

There hasn't been 5.5 points down from the high today on the ES.

jd

macal425 · Oct 29, 2003

Quote from JackDaniel:

There hasn't been 5.5 points down from the high today on the ES.

jd

I don't think he said it was all on one trade so may be 5.5pts worth of scalps.

AMT4SWA · Oct 29, 2003

That is from my intraday trading today...not from any overnight positions. Now at +6.5 pts....still pretty slow today.

EMini-Player · Oct 29, 2003

Quote from macal425:

I don't think he said it was all on one trade so may be 5.5pts worth of scalps.

Yep..scalps to the short side.

-Fast

AMT4SWA · Oct 29, 2003

7 trades for me today at this point...all small scalps so far.

EMini-Player · Oct 29, 2003

Quote from AMT4SWA:

7 trades for me today at this point...all small scalps so far.

One of my issues is; I'm still learning how to identify a chop day and a trend day. I tried going for larger point gains this morning and took some losses...then switched to small scalps and made most of it back.

-Fast

Walther · Oct 29, 2003

Quote from Fast_Trader:

One of my issues is; I'm still learning how to identify a chop day and a trend day. I tried going for larger point gains this morning and took some losses...then switched to small scalps and made most of it back.

-Fast

If you are a visual trader use 14 ADX as a trend identifier . Start on 30min chart and go down to 10, 5, 1 min . It should be clearer that way . It is always a good idea to look at higher time frame first so you see a bigger picture.
Walter

dbphoenix · Oct 29, 2003

Quote from funky:

for sure...my strategy just dictates that if the 945 reversal isn't there, i wait until 1030....precisely because of this type of day....no news is bad news!

I can understand why you'd want filters. I do the same thing. But I try to be flexible on the time-of-day if price is approaching something that may be important, there is a divergence, and the TOD is still within range of what's "normal".