http://www.financialsense.com/contributors/tim-w-wood-cpa/dow-theory-update-09-17-2010 heres an article on DOW THEORY,he mentions a 2nd top in unison to signal a turn,i'm not sure if it needs to be a 2nd top above the 1st,or just in unison,read the article and see what your take is,below is a 2nd top in unison edit wave,LC,vertigo,Apex82,anyone else, are you guys up on dow theory
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Hi Lawrence...
Trading the ES futures has become a lot harder now with the lack of support with NeoTicker.. !!
I am getting no help or response from you or your Neoticker Support for my problem posting in Neoticker forum...
I have no where else to turn but to post where ever you post until this is fixed...
I sent in a support ticket on 9/16/2010 and did not hear from anybody at NeoTicker for 2 days and then sent a support ticket on 9/18/2010 and have not gotten any answer yet...
what do you expect me to do... .
thanks... edge...
I think it depends on what becomes more frustrating for you over time, letting a winner turn into a loser, or leaving good profits on the table by exiting before your profit target is reached. I hate seeing a winner turn into a loser (I did that not long ago a took a max loss on the trade and had one before that which was a "best setup ever" and hit full stop), so I prefer to look for a re-entry if the trade still seems valid after I'm stopped out. The frustration of not getting back in and missing some of the best moves of the day hasn't yet overcome my loss aversion.
Dow Theory is classic application of non-confirmation setup across markets.
Non-confirmation setups give you "potential" of a turn, not a predictive high prob of a turn. There is a huge difference between the two.
First one is similar to the divergence top in momentum that may never materialize =)
To turn the setup into high prob setup, we need a confirmed break down on weekly.
Support not working on weekends. That's why you are not getting their response yet.
Not everything can be resolved in minutes - I wish that is true though.
Lawrence
Not everything can be resolved in minutes - I wish that is true though.
Lawrence
An example straight from wyckoff as the confirmation - weekly close below low of past 2 weeks.
I got it from another website. Just curious, but what are the requirements? If they are too strict, it might as well be illegal...
Most CFD broker opens an account for you with 100-200 bucks down, no question asked.
P.S.: I actually read it on 2 different websites that CFDs were illegal in Canada, but if untrue, sorry for the missinformation. Also, sorry for carring about Canada...
Edit: According to Interactive Brokers:
"CFDs are derivative products denominated in multiple currencies and are available to non-US/Canadian residents."
http://www.interactivebrokers.com/en/trading/pdfhighlights/PDF-CFDs.php?ib_entity=llc
# Three years have elapsed since the United States subprime mortgage market erupted in the summer of 2007, followed by the financial crisis in 2008 and the deepest slowdown in OECD economies in 60 years. History shows that the recovery from such crises on average takes a decade, meaning we most likely have seven more years of tepid growth, high unemployment and rising government debt, along with further debasement of fiat currencies in the developed world.
# The investment implications are 1) a tectonic shift downward in bond yields, and 2) a major blowout in gold, which historically has surged 5-fold during such episodes. Thus gold at $3,000/ounce is not a pie-in-the-sky number. On the other hand, a secular decline in bond yields does not necessarily mean a corresponding decline in stock prices like that seen in Japan. To get a bear market like the one Japan has suffered through, additional policy mistakes need to be made that exacerbate the original problem, and the US is not there yet.
Source TJI
# The investment implications are 1) a tectonic shift downward in bond yields, and 2) a major blowout in gold, which historically has surged 5-fold during such episodes. Thus gold at $3,000/ounce is not a pie-in-the-sky number. On the other hand, a secular decline in bond yields does not necessarily mean a corresponding decline in stock prices like that seen in Japan. To get a bear market like the one Japan has suffered through, additional policy mistakes need to be made that exacerbate the original problem, and the US is not there yet.
Source TJI
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