Vol - I apologize as these answers are buried in this thread somewhere, but can I ask for explanation of the T day theory and the rule of 10? You don't need to retype it, a link to a page in this thread will be great!
Thanks!
ES Journal Archive (2006 - 2008)
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Vol - I apologize as these answers are buried in this thread somewhere, but can I ask for explanation of the T day theory and the rule of 10? You don't need to retype it, a link to a page in this thread will be great!
Thanks!
T day theory
If the indices are red on a T day, sometimes intraday they will revert to green. The odds become even higher when the negative is seen on a gap down or is seen before 10:30 est.
Rule of 10 is used to signal entries and exits. After moving 10 points, there is a high probability that fading the 10 point move will net 2 points or maybe as much as 5 on a 50% retracement or maybe more.
If the indices are red on a T day, sometimes intraday they will revert to green. The odds become even higher when the negative is seen on a gap down or is seen before 10:30 est.
Rule of 10 is used to signal entries and exits. After moving 10 points, there is a high probability that fading the 10 point move will net 2 points or maybe as much as 5 on a 50% retracement or maybe more.
as one of those who has been stalking the vo for awhile now (joking, vo!), i can lend a hand.
t day refers to the fact that tuesdays and thursdays are up days, per his theory.
10:30 is a likely reversal time, but can be early or late by 15 min.s or so (this actually works, in my experience)
rule of 10 already explained
does that cover it?
t day refers to the fact that tuesdays and thursdays are up days, per his theory.
10:30 is a likely reversal time, but can be early or late by 15 min.s or so (this actually works, in my experience)
rule of 10 already explained
does that cover it?
http://www.elitetrader.com/vb/showthread.php?s=&postid=958171&highlight=biaS#post958171
Rule of 2 and 10 are the same as rule of 20 and 100 on YM.
Rule of 2 and 10 are the same as rule of 20 and 100 on YM.
World looks green today...
B1S2 is long
Apex is long
Pullback in Naz should give a good slingshot lift to the S&P in an advance, if ES breaks out of this daily bull flag.
"Techs see some Sun-shine
Yahoo and Sun Microsystems look ready to lead U.S. tech stocks higher, though broader markets will likely start steadily before weekly energy inventory data."
Today is Wednesday a good day for a trend day
B1S2 is long
Apex is long
Pullback in Naz should give a good slingshot lift to the S&P in an advance, if ES breaks out of this daily bull flag.
"Techs see some Sun-shine
Yahoo and Sun Microsystems look ready to lead U.S. tech stocks higher, though broader markets will likely start steadily before weekly energy inventory data."
Today is Wednesday a good day for a trend day
Why have a bias? Just let the day unfold and play your game. Believe me, in days, years past, having a bias cost me many a dollars not made because i expected the mkt to go one way and it refused to agree with my bias. Guess who wins?
FWIW..........Forget a bias, trade what you see not what you think.
FWIW..........Forget a bias, trade what you see not what you think.
Yes very true. It just gives me something to work with, I still have to see the setups and will be watching the +/-6
It also means that I will give shorts much more room on a advancing market, but I should just be long in that case, right
It also allows me to set some targets if I see a setup.
Lets bring home the bacon!
If you don't how are you looking to trade on a particular day, if we have sold off 3 days in a row, and are sitting at a support level in an uptrending market on that 4th day you would not be long biased ?
OK, agreed, we all have our ways, cool. here is numbers for today (give or take a tick)
+6 line = 1438.75
0835 central , = 1437.25
-6 line = 1435.75
have a good trading day, ystrdy was good , never got to last fridays high at 1439.00 but went up to the 38. Had 2 trades all day.
+6 line = 1438.75
0835 central , = 1437.25
-6 line = 1435.75
have a good trading day, ystrdy was good , never got to last fridays high at 1439.00 but went up to the 38. Had 2 trades all day.
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