Iterative Refinement
- Thread starter Spydertrader
- Start date
ES Daily Chart January 18 2008
Quote from TIKITRADER:
ES Daily Chart January 18 2008
it takes a lot of mental effort to draw the trendies on multiple time frames, one timeframe is daunting enough...
given my low back issues, I have resorted to long term trading, I have been involved with the markets since late 80's, floor and off-floor screen trading.
its not even worth it most days, when the ticks aren't jumping..
I found this journal by spotting the images posted, and very similar to what my end of session images look like..
there is basic inherent risk management implied by the price action, a higher high, a lower low, is a stop for some and a profit target for others... thats how the algo's trade, they see the price action and determine vectors and alter risk management profit target based on orderflow and channels.
Keep pushing forward. I've been able to spend the last 6 months doing this, and it's all coming together. When you feel comfortable, I would recommend annotating futures along with the gang here. It has seemed to help me with my stock trading - it gets your mind "trained" to see changes much quicker. Well worth the sacrifice, as long as it doesn't include the bank acct!!!!
Actually, I held onto my other 1/2 of MALL. Lotsa cushion to play with, but unless futures are up a bunch Tuesday and MALL follows along, I'll bail pretty quick. Typically, after a big volume/movement day like Friday was, it wants to pull back a little.
Your chart looks about the same as mine. Note how it got to the green line and pulled back. I just drew that in today. If I would have had that in beforehand, I may have sold when it was up around $9.00. That was around 22% at the time!!!
My bad.... :eek: :eek:
Hey Tums!
I believe we're thinking along the same lines. Some other relationships I look at is how much price is above/below the 20SMA before an FTT, % retracement of a bar after an FTT, smallest distance from the LTL and the FTT bar, and the steepness of slopes of tapes and forest channels. Fortunately using Excel as a platform makes all this analysis easy. I have seen the patterns enough that they look familiar. I'm now just trying to quantify what I already believe to be true.
Additions to FU:
Using Telechart, and the usual parameters - price, avg volume, float, their RS Rank > 80 (compares to SP-500), EPS Rank >80(change for last Q), insider, institutional, positive earnings:
ARGN, LXU, VCGH
Using Stocktables, >90 RS and >80 EPS, as noted in the journals:
SDTH, MEE, VIP
Using Telechart, and the usual parameters - price, avg volume, float, their RS Rank > 80 (compares to SP-500), EPS Rank >80(change for last Q), insider, institutional, positive earnings:
ARGN, LXU, VCGH
Using Stocktables, >90 RS and >80 EPS, as noted in the journals:
SDTH, MEE, VIP
Earnings next week:
21st-RWT
23rd-ASIA
24th- MTH
Also, scratch VIP from list, Float is an insane 950 million shares.
Check these here:
http://www.thercproject.com/hershey/funcs.asp
Easiest way to do it, I've found, is to copy/paste list from your WealthLab FU Watchlist
21st-RWT
23rd-ASIA
24th- MTH
Also, scratch VIP from list, Float is an insane 950 million shares.
Check these here:
http://www.thercproject.com/hershey/funcs.asp
Easiest way to do it, I've found, is to copy/paste list from your WealthLab FU Watchlist