From November?
House of If You Can Draw A Straight Line
- Thread starter dbphoenix
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From November?
Yes 11/28
. I work on an oil rig, I do a 3 week stretch offshore where the internet combined with shift rota make watching let alone trading a near impossibility, however, once my stint comes to an end I have 3 weeks to myself which allows me to watch/study/trade the markets throughout the day largely uninterrupted and without distraction.
My buddy's buddy does that rig thing. Gets to travel across the world for work. Mud business.
Well, if it's 43, then we exceeded it by two points.
So much for the lack of predictive capability of this approach.
Edit: you're right; I'm the one who's blind.
Not a great day but a perfectly okay day.
Ehh 3 and 8 look similar lol. Hey they are both Fibonacci numbers hahahahaha.
I couldn't speak for the stocks, but NQ being a mean reverting instrument, you don't usually get to hold that long, before it turns on you, so yeah, I'm always flat before the end of the day. The 5 minute chart is fine, but now you're competing against people, such as Al Brooks, and NoDoji...
The more the merrier.
In stocks, the main problem I had was that if I'm starting with a clean slate at 9:30 Eastern, the longer the timeframe the more time it took before I saw something interesting. For example with 39-minute bars you get wider, slower trends, which I like, but then forget about being flat at 16:00 if you want to catch anything decent, and of course one out of three nights you'll get a 2% gap, which I hate (regardless if it helps or hurts - I hate the added uncertainty). Even 15-minute bars often take the whole morning to speak to me, which is a total waste of potential.I'm still shopping around, but it looks like I'll settle on 5-minute bars this year. Like DP says, bar size is just a manner of representing continuous data anyway, but I think it'll be my sweet spot between "blink and you'll miss it" and "too slow for going flat every night".
(Too bad my platforms don't have tick-based charts though; those look like they may be useful for condensing overnight sessions in Forex and futures. Oh well, still just a gimmick in the end.)
Oh, that being said, my experience was limited to stocks, where pre-market is anemic at best, and some Forex, which isn't fun if you're asleep during the London morning. Now this NQ futures is new to me but seems to have a decent overnight session to minimize 9:30 surprises, yet unlike Forex, seems to have the bulk of its useful moves still bundled between 8:00 and 16:00 which is when I'm around. Might just be what I've been looking for.
I looked at the ndx that high is 48. Maybe that's what happened lol.
The question now is what next? Acc to AMT, we head for the upper limit of the trend channel, so that's where I'll look.
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