You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
S/R Emini Journal
- Thread starter 4re
- Start date
- Status
- Not open for further replies.
Quote from ndjeff7:
Gary,
While we're talking about flag/pennant patterns I thought I'd share one from a couple days ago that I thought was just perfect. There's a big gap down at the open of the day which creates the "virtual" pole and then the pennant forms in the channel that I outlined. A short would be entered on the breakdown of that channel. There was also a nice dropoff in volume during the pennant formation. Would this be a good pennant trade in your eyes? Thanks!
Jeff
No doubt about this one it was picture perfect for a flag trader. I think romik was looking that one as well. And you were also correct about the virtual flagpole. This is very common in stocks.
Good job, did you trade it?
Quote from LondonUSTrader:
No problem. I just call it as I see it.
ET is a fantastic research resource, yet people often don't see it.
They focus on the negative. Whereas for me when I see a poster who seems to be a good trader I just search and read all their posts. I have learnt a lot over the years by doing that.
As for her criticisms of Grob. I don't think I have ever understood a single post of his. Not smart enough I guess. LOL.
It is no coincidence I always try to read your thread and the ES journal as well. Quality stuff.
It isn't just ET that has a lot of negativity. I used to be on Raging Bull all the time when they were the talk of trading. It was very negative and still is eventhough most of the good traders are long gone. I don't know much about Grobs trading method either. Maybe we are too simple minded to figure it out. But he has been ok to me so I would never say anything bad about him. Seems like a very bright man to me. But I still appreciate the kind words from you. I always expect someone to come and try to run down this thread and my efforts but so far that hasn't happened. (Knock on wood)...
Gary
Quote from belavia:
Thanks, I did not have that. I will read it over before I go to sleep.
I am also reading Fooled by Randomness, which I think is an excellent book that explores the role of chance and probabilities in the markets.
Good night!
I have never read that book but I have heard good things about it. Keep up the studies and send me charts anytime.
Gary,
Do you still plot YM S/R? Have you ever considered using the YM breakout as a filter for the ES breakouts? Seems as though if both break S/R the move is stronger. Any thoughts?
MDT
Do you still plot YM S/R? Have you ever considered using the YM breakout as a filter for the ES breakouts? Seems as though if both break S/R the move is stronger. Any thoughts?
MDT
Quote from 4re:
If you don't mind me asking. How much does IB charge for their chart service. I am tired of paying 139.00 for e-signal
Be sure to compare the data quality between e-signal and the IB data feed.
I was considering dumping my Qcharts and solely using IB data feed; however, I noticed that I was getting some inaccurate data from their backfill. This would significantly affect your S/R.
Quote from 4re:
It isn't just ET that has a lot of negativity. I used to be on Raging Bull all the time when they were the talk of trading. It was very negative and still is eventhough most of the good traders are long gone. I don't know much about Grobs trading method either. Maybe we are too simple minded to figure it out. But he has been ok to me so I would never say anything bad about him. Seems like a very bright man to me. But I still appreciate the kind words from you. I always expect someone to come and try to run down this thread and my efforts but so far that hasn't happened. (Knock on wood)...
Gary
I guess negativity is a fairly natural by product of any net losers environment if that is you believe most ET traders are net losers. The funny thing is there have been enough threads over the years by yourself, Romik, Nihab, OldTrader, Spike, Steve46 and Lefty (to name a few consistently profitable traders) that have shared with people how they trade that anyone could have the basis of a winning method or at least a few really good ideas to work with.
As for Grob. I have nothing against him or his disciples. I just tend to fall asleep by his second sentence. I think maybe he's missed his calling in life. He should have been a writer for the EU. LOL.
Here are my thoughts on chart analyses. While reviewing EOD charts is a must for anybody who is serious enough to consider doing this for a living or even as a supplementary income (not loss basically) it is just as important to study charts real-time and applying your previously gained knowledge on real-time charts. Do not get trapped by hindsight analyses, as in hindsight one may very easily not see POTENTIAL price oscillations, as it is already there on the plate for us to see. Doing that all the time will not train your mind to be ready to react in due time, reaction lag does happen a lot to the majority (I assume here) novice traders. Nihabaashi (ET member) has posted a lot of quality stuff on both of these subjects. He recommends using programs that record daily price oscillations (charts) and later reviewing them that way, rather than simply looking at the EOD charts, which is easy stuff. I think he mentioned Camstasia, though some charting programs offer this function built-in or as an add-on.
Quote from MiniDowTrader:
Gary,
Do you still plot YM S/R? Have you ever considered using the YM breakout as a filter for the ES breakouts? Seems as though if both break S/R the move is stronger. Any thoughts?
MDT
No I only plot the YM when asked. Rarely even look at it or the NQ. I will try to do that a little here and there just to see what happens. Thanks,
Gary
Quote from sulli:
Be sure to compare the data quality between e-signal and the IB data feed.
I was considering dumping my Qcharts and solely using IB data feed; however, I noticed that I was getting some inaccurate data from their backfill. This would significantly affect your S/R.
Thanks for that. I think I will look into Qcharts a little more.
- Status
- Not open for further replies.