Only chart required to successfully trade $SPY today

never2old said:
@Algov9, thanks & appreciate the dialogue & discussion & trust that you won't mind answering a few questions that I have?

Thanks & here goes ...

IMO after the fact after close charts are meaningless

as mentioned throughout the forums, I am a retired senior, eccentric & a contrarian investor.

you posted "Ah, unfortunately we don't have a way to predict even if a price level will be hit over the course of the day. For all we know, the price could have consolidated within that $280 -> $280.70 range all day and not budge. Our AI only predicts the relevant price levels for reversals/break-outs "

again this is confusing too me, is the instantaneous prior to the breakout - before the event happens, is it microseconds, milliseconds, seconds, minutes?

a request - if you'd kindly post a freebie at 9am EST before market option - the range of SPY during the day.

I understand its not possible to predict 'or is it' the by the hour, say 10am thought to 4 pm close what the SPY price will be at any given time or period?

as far as accuracy, are you using day price range, AM, PM, segments of the day or just the reversals/breakouts?
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Hi @never2old

The price levels (blue lines) are generated nightly and are posted on the site PRIOR to market open, and are never changed once they're made available. These price levels are all generated daily for every stock it has in its universe (currently a count of 500'ish, mainly SP500 securities with a few ETFs).

If you're a day-trader and you think a stock is overbought during a trading session, and are looking for a good price for a short entry, you should take a look at the price levels the AI has generated.

Similarly, if you believe a stock is oversold and are looking for a price to go long, you should look at the AI's price levels.

We have lots of examples posted to our Twitter throughout the day (www.twitter.com/ALGOV9) and in my signature there's details for a free 5 day trial (no CC required!). Poke around at some charts and you'll most likely get a feel for how it can be used in your day-trading.

An example of a trade I made today -- entered a short in the red diamond area, took some profits in at the first green circle, then ended up getting stopped out in the rest of my position for the remainder of my shares (just had a stop-loss set as I was AFK, was hoping it'd fall further in the afternoon).

upload_2020-4-24_21-17-11.png

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When I initially entered my short, GRUB was up 5%.

(As an FYI, I'm a relatively "noob" trader still learning, but having these price levels simplifies finding good entry and exit targets for me which I imagine it would for a lot of traders out there).

Hope this explanation helps!
 
trading_jean said:
You don't have to know what the exact high or low will be to make profit. TA works with probabilities, like poker. If one consistently has odds that are slightly better than 50% in the long run there will be profit. But just like poker trading is hard mentally because good behavior might be punished and bad behavior might be rewarded for a while.
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I missed this post.

My basic questions have been answered.

Thanks
 
cruisecontrol said:
what evidence is there of these levels having any edge? have you got a whitepaper with some backtested results?
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Hi @cruisecontrol

Sorry for the delayed response.

We don't have any published whitepapers, but we do publish broader market demos fairly often for hedge funds/trading desks as a sales tactic.

Take a look at my post history here on ET -- some have included links for demo samples (should be 50+ stocks in each) so you can visually see the significance and accuracy of the price levels.

They're basically just stocks selected randomly from within our universe, with our AI's price levels plotted atop the market data. We make it a point to emphasize that the price levels are always published and available before market open.

Hope this helps!
 
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