S/R Emini Journal

[sandygray66]

4re -

This is the first time that I recall that you've posted using a calculated statistic (I wouldn't really call it an indicator) to determine a S/R level, rather than looking at high/low points on chart formations.

Do you use linear regression very often? What makes you say that the instituions use it?

I'm not doubting that it may be useful (if you have used it regularly, and it works, great!), but I have hardly ever seen it used in trading analysis (although I'm quite familiar with it in data analysis from my engineering days).

Thanks.

Sandy

 

[porgie]

IT AIN'T EASY ........and usually gets harder the more experience we have .......and then we learn it is not what we know....it's knowing how to manage the one who does the trading..........learning what makes us tick between the ears.........it gets ugly and deep sometimes when working thru the real issue, which is the emotional condition we have backed ourselves into.......mark douglas will tell u who you are...........and why everyone is goofy.......except porgie of course.

 

[4re]

Quote from sandygray66:

4re -

This is the first time that I recall that you've posted using a calculated statistic (I wouldn't really call it an indicator) to determine a S/R level, rather than looking at high/low points on chart formations.

Do you use linear regression very often? What makes you say that the instituions use it?

I'm not doubting that it may be useful (if you have used it regularly, and it works, great!), but I have hardly ever seen it used in trading analysis (although I'm quite familiar with it in data analysis from my engineering days).

Thanks.

Sandy

Sandy,
I always keep up with where the linear regression line is. Usually we are not this close to it where it would come into play though. I have used it in maybe 2 other calls on this journal though.

The reason it is not as big a deal in ES trading is that we have a lot of non institutional trading in here. The institutional guys watch this closely and you see a lot of that trading the Q's and spiders while not as much here in the ES. In the mornings we have a lot of institution orders I could see them testing it. That is why I added it on my chart for today.

4re

 

[RidgeRunner]

4RE,
Do you only trade the ES during market hours? Is that why you post two entry points for both long and short? Or, have you traded pre-market as well.

Thanks for starting the thread, really enjoy it.

Ridge

 

[K-Rock]

4re

I hope you stayed out of the trade (realizing momentum was decreasing).

 

[4re]

Quote from K-Rock:

4re

I hope you stayed out of the trade (realizing momentum was decreasing).

K-Rock,

Nope. I didn't stay out of it and stopped out for 1.5 point loss. I will consider another short if we break through 1259. Right now that is the only trade I am looking at. I was trying to get out of this trade +1 point but it snapped up too fast for me to enter the order. That is ok, I'll see what other opportunities are out there.

4re

 

[4re]

Quote from RidgeRunner:

4RE,
Do you only trade the ES during market hours? Is that why you post two entry points for both long and short? Or, have you traded pre-market as well.

Thanks for starting the thread, really enjoy it.

Ridge

Ridgerunner,
Right now I am only trading the ES. I try to only trade the market hours but sometimes I will get into pre market if I need to.

4re

 

[sandygray66]

4re - You're not still looking to go long if 1272 breaks?

 

[4re]

Quote from sandygray66:

4re - You're not still looking to go long if 1272 breaks?

If it comes up yes I will go long at 1272. Still looks good, in fact it actually looks better now than in pre market.

 

[K-Rock]

Quote from 4re:

K-Rock,

Nope. I didn't stay out of it and stopped out for 1.5 point loss. I will consider another short if we break through 1259. Right now that is the only trade I am looking at. I was trying to get out of this trade +1 point but it snapped up too fast for me to enter the order. That is ok, I'll see what other opportunities are out there.

4re

I rarely trade TI signals; however, when I see divergence I'm looking to get out or stay out of a trade until I get a continuation or reversal confirmation.