ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Forewarned, forearmed; to be prepared is half the victory.
Miguel de Cervantes
Which is why I do my trading plan before every trading day.
I did this just to highlight what I have mentioned previously.
Everyday before the market opens I have a good feel for what the market is going to look like.
Where the support and resistance levels are.
In addition, where the pivot times are going to occur.
The secondary indicators are the basis for this information.
You can divine what the program traders are doing from those indicators which now makes up
on average 40% of the days volume.
Am I right all the time? No, of course not.
All I am doing is following in the path that the programs have already made.
Trading is still an art not a science.
That is, until the machines take over completely.
Charly - five minute time frames.
The pivot times are a proprietary formula I developed and refined over 10 years.
I run the fear that if I divulge the formula it will stop working.
That is, too many traders will trade against it.
The EOD results are attached.
Miguel de Cervantes
Which is why I do my trading plan before every trading day.
I did this just to highlight what I have mentioned previously.
Everyday before the market opens I have a good feel for what the market is going to look like.
Where the support and resistance levels are.
In addition, where the pivot times are going to occur.
The secondary indicators are the basis for this information.
You can divine what the program traders are doing from those indicators which now makes up
on average 40% of the days volume.
Am I right all the time? No, of course not.
All I am doing is following in the path that the programs have already made.
Trading is still an art not a science.
That is, until the machines take over completely.
Charly - five minute time frames.
The pivot times are a proprietary formula I developed and refined over 10 years.
I run the fear that if I divulge the formula it will stop working.
That is, too many traders will trade against it.
The EOD results are attached.
Since we do not know the realtime trading strategy, with specific entry points, would you suggest that we study your eod chart annotations as we search for bar patterns/lines? Your reluctance to divulge your code is a personal decision which all should respect. cheers
Extremely interesting stuff, but since you are not willing to participate in information sharing, which is understandable, I have no questions to ask you regarding your method.
You've said before that price charts are history, but since you do say that you are not correct 100% of the time, surely one can ask - what's wrong with price charts in that case? Perhaps they don't offer obvious traces left by black box activities, but price based patterns like a failure swing (grail) do seem to be very consistent. As long as one can derive sense from intraday activity money can be made, there is no question about it. Only manipulation creates 100% frustration.
BTW Why did you remove all your previous posts and decided to change your nik?
Not necessarily true, I am willing to share information. However, I am not willing to divulge the pivot time codes.
I did not remove my previous posts. It was the moderator who removed the posts and scrubbed the account hence the new nik. I've had this happen 2 previous times on different sites where the moderator felt obliged to remove all my posts. That is why I signed off "And like Kaiser Sose I am gone." From my past experience on other web sites I had a funny feeling it would happen here also.
Thank you romik and optionpro007 for saving the post. (pg. 772 & 773)
With all due respect that is how you may have interpreted what I wrote. However, what I actually said was:
Sir you are absolutely correct. There is nothing wrong with price charts. They are the foundation to all technical analysis. And you're right there is no question about it, you can derive a sense from intra-day activity and money can be made.
However, there is a level of trading that exists where you can derive a certainty from intra-day activity.
What I am suggesting is that there are reactive and proactive levels of trading. Trading at the reactive level is fraught with a high degree of uncertainty. A price pattern unfolds and a guess is made with the hope that a favorable outcome will materialize. On the other hand, a proactive level of trading has emerged where one knows in advance the patterns, levels, and times of what should occur on any given trading day with a high degree of probability. This higher level of trading is one in which the trader can build positions in advance of a move and distribute that position as all the reactive traders start accumulating once the move is underway.
Romik it appears your intuitive sense is telling you that price charts are history. There is a degree of truth to that in a sense. Let me ask you, how many times have you seen a traditional price pattern evolve only to have it fail? How many times have you bought into a break out or a break down only to have it immediately reverse itself and become a losing trade? I have witnessed over the past 20 years that I have been trading that as the market has evolved traditional price patterns (H&S, dbl tops & bttms, wedges, etc.) have increasingly lost their relevance.
I'm sure you can agree that you strive to make yourself a better trader every day. Otherwise, you wouldn't visit this site. May I offer to you and to those reading this a suggestion, gather as much information on program trading as you can and immerse yourself in the topic. Learn how to read the secondary indicators. That is where the programmers literally scream at you well in advance of when they are going to roll the market. Romik, you will find that over time you will end up using your RSI indicator to confirm that which you already know.
I have nothing to prove, just trying to elevate those around me.
just my2cents
I agree that price charts are lagging. To learn to anticipate what the market will do next, and to have a high probability of success doing that, is the ultimate skills of a real trader. I do believe you are correct, saying that guessing correctly is the key. cheers
my2cents
Thats exactly what I feared - secret
no complain by he way.
To read more or less all about program
trading is virtually impossible - at least for me, since my native language is not English.
Isn't there an easier way apart from those pages 742/3?
Readers won't stop asking you anyway - from time to time.
Charly
Thats exactly what I feared - secret
no complain by he way.
To read more or less all about program
trading is virtually impossible - at least for me, since my native language is not English.
Isn't there an easier way apart from those pages 742/3?
Readers won't stop asking you anyway - from time to time.
Charly
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