ES Journal Archive (2006 - 2008)

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rsi, macd, etc. you do not necessarily need to understand the algorithms of an indicator to understand divergences, simply understand how to read a divergence and come up with a strategy to trade them. I am currently running a very boring journal on divergences, you can have a look there for some clues also. There have been tons of charts posted in this journal featuring various types of divergences and in different TFs.
 
Ask B1, he posted a very good explanation once before. If you want to understand it from the technical point of view, than you will have to understand the algorithm behind the indicator, you will see formulas on the net, try www.stockcharts.com
 
Quote from Buy1Sell2:

There is one thing to remember however--The 4th quarter is historically considered the strongest quarter for the market.
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Agree ,especially NasdaQQQQ, SPY,ES;
and another reason tek can get so strong,
OCT can really go LOW.

OCT crashes, severe downtrends, while sometimes fierce, actually dont happen that much.

And in any quarter, no matter the percentges;
dont like to let a profit turn into a loss

:cool:
 
Quote from Buy1Sell2:

There is one thing to remember however--The 4th quarter is historically considered the strongest quarter for the market.
More...
=============================
Agree ,especially NasdaQQQQ, SPY,ES;
and another reason tek can get so strong,
OCT can really go LOW.

OCT crashes, severe downtrends, while sometimes fierce, actually dont happen that much.

And in any quarter, no matter the percentges;
dont like to let a profit turn into a loss

:cool:
 
Thank you b1s2 ! You are a true "lighthouse" for me. My style of trading and yours are similar, so your words mean very much.

I think traders look at the markets from either a scientific or an artistic level and everything in between.

It is a gift to hear from a successful trader who already views the markets in the same way I want to view them and trade them as I want to trade them for the rest of my life.

Good luck and best wishes!

:)


Quote from Buy1Sell2:

1. I keep nothing written down anymore. In this age of computers where I can have orders ready whenever and save the potential trades so they are ready to go, I don't need to write it down. This actually helps, because it requires me to reevaluate the charts daily, the way we used to when we handwrote the charts.

2.I start with small positions and add to them. I use patience and self control. When I am using close stops, I advocate taking increasingly larger positions with each loss because the losses are small. When I am using wide stops, this is less necessary as I am right much more often. The latter strategy is my strategy of choice. If I feel like being more active, I sometimes use the former. It just depends on how much attention I want to pay to a market. Also, the longer frames like weekly allow much wider stops where you probably would not want to be increasing positions at the rate that you might as a shorter term trader.

3.I don't know what turtle style means. Mind you, I am self taught and do not keep up with trade publications or use anyone's advice anymore. I delete all emails that pertain to strategies etc. I also throw away all correspondence that might have potential influence on my thinking. I do occasionally read an article or two, generally an interview. I am closed minded in my approach. I am my own guru. Thus, I have never heard of turtle style and assume that it is something that has been put forward as a strategy.

4.It depends on how I feel. I generally like to let the TA tell me when to get out. However, I have a good idea how far a move will go as it's playing out and begin to be careful at those points. Profit targets are more suited to shorter term trading that longer term in my opinion, but can work with either. Let me say this--One of the keys to success is being able to let a profit ride even if it eats up a great deal of your initial profit. If the trade makes sense and has not violated reaction highs/lows, then you stay with it. Don't try to catch all the fluctuations--you will miss the big moves.
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