S/R Emini Journal

[4re]

Quote from johnpinochet:

I spent close to a year with the product. I had it on a separate dedicated PC. I checked it constantly, every second. I read the tutorials. I discussed things with customer service.

Just because I want to learn something and I try to master it doesn't make it so.

Believe me, the concept is brilliant. I do love to see price behaviour at the various levels. It does tell me a lot about bids vs ask. I just found it had way too much noise for me. The delta number was unreliable.

I think if I only used it, and S/R, that I may have made it work.

I'm not trying to be quarrelsome. I wanted to point out that your generalization is not accurate.

Oh Dude,
I may have made it sound like you didn't dedicate yourself to it but I really didn't mean it like that. I know where you are coming from as well. I don't know if it might be that each individual has to find what works for them or something like that. I thought my method was about as easy as it gets but I was working with a couple of guys that no matter how I showed them my method it did not work for them. I have tried other successful methods that I could not for the life of me make them work.

You guys have a good night and I'll be back by the opening bell.
Gary

 

[5Pillars]

JP - Lets do a small exercise together, like a little learning quiz. We will make this real simple with only two answer choices per test question. You will choose the answer for each question in your mind with the word, "LONG" or "SHORT"......real simple. Nothing special for this quiz, just use your common sense from any data in each example.

Here we go.........

********************************************************************
Q #1 --- At the completion of the 08:39 CST bar would you want to enter LONG or SHORT?

http://www.charthub.com/images/2006/09/13/ESZ6_MD.png

Have your answer....here is the next few minutes of trading after the 08:39 bar.........

http://www.charthub.com/images/2006/09/13/ESZ6_MD_2.png

********************************************************************
Q #2 --- At the completion of the 09:07 CST bar would you want to enter LONG or SHORT?

http://www.charthub.com/images/2006/09/13/ESZ6_MD_3.png

Have your answer....here is the next few minutes of trading after the 09:07 bar.........

http://www.charthub.com/images/2006/09/13/ESZ6_MD_4.png

********************************************************************
Q #3 --- At the completion of the 10:06 CST bar would you want to enter LONG or SHORT?

http://www.charthub.com/images/2006/09/13/ESZ6_MD_5.png

Have your answer....here is the next few minutes of trading after the 10:06 bar..........

http://www.charthub.com/images/2006/09/13/ESZ6_MD_6.png

********************************************************************
Q #4 --- Tough call here...at the completion of the 14:04 CST bar would you want to be LONG or SHORT (near the days HOD).........

http://www.charthub.com/images/2006/09/13/ESZ6_MD_7.png

Have your final answer....here is the next few minutes of trading after the 14:04 bar..........

http://www.charthub.com/images/2006/09/13/ESZ6_MD_8.png

********************************************************************

As you can see, this should help show the potential of the "delta" information and the ability to find good daily set-ups that all yield over 1 point per trade. This was just a short quiz to get your mind flowing with the possible tools that are available to traders to hack away at these crazy markets.

 

[billp]

Johnpinochet,

I am trying to learn delta myself. Have to admit I know what you are going through as I'm seeing the same things myself. At support that holds, it does not necessarily mean that it will have +ve delta etc. It is not so easy as that. I guess some people are able to master this method and some are not. Some will take a longer time than others and some faster. Nothing wrong with that. Eveyone has their own methods to success.

I'm still not giving up on this yet although I've been 2 mths at it on and off. At this moment I still find I'm way better at reading charts than at reading delta. 5pillars method--I've seen it work and don't work with my own eyes. Somehow 5pillars is a master in this. If only I can 'transfer that ability to me'--need to create a machine for that

Well, back to learning.

Quote from johnpinochet:

I spent close to a year with the product. I had it on a separate dedicated PC. I checked it constantly, every second. I read the tutorials. I discussed things with customer service.

Just because I want to learn something and I try to master it doesn't make it so.

Believe me, the concept is brilliant. I do love to see price behaviour at the various levels. It does tell me a lot about bids vs ask. I just found it had way too much noise for me. The delta number was unreliable.

I think if I only used it, and S/R, that I may have made it work.

I'm not trying to be quarrelsome. I wanted to point out that your generalization is not accurate.

 

[5Pillars]

BillP - actually I find most people make "delta" much more difficult than it is, and that is what ends up hindering the assimilation of the concept. Just look at it for the simplicity it can be and then it "works". The "delta" is a field guide to what is ahead in the jungle, but it will not shoot your game for you.

Take that PETA members! :eek:


OK, that is a night for me.....I have some news trades pre-open tomorrow.

 

[billp]

5pillars,

Thanks for the charts. If you don't mind I have a couple of questions but right now I'm extremely hungry and not thinking straight. Also, have to read up a bit about Investor R/T charting--fell asleep(too tired) instead of attending the lesson to convert to Investor R/T :mad

Complicating things--I guess I do have some tendency in me based on my experience.

Quote from 5Pillars:

BillP - actually I find most people make "delta" much more difficult than it is, and that is what ends up hindering the assimilation of the concept. Just look at it for the simplicity it can be and then it "works". The "delta" is a field guide to what is ahead in the jungle, but it will not shoot your game for you.

Take that PETA members! :eek!

OK, that is a night for me.....I have some news trades pre-open tomorrow.

 

[romik]

Quote from Spooz Top:

bstone,just some friendly advice..........always stick those stops on the .25`s & .75`s..................never on .50 or .00`s
if your stop was at 32........always go the extra .25...........price action will always be driven to the whole & 1/2`s......small trick that`s saved me from being stopped & kept me in the trade many times over the years.

nice trade today,romy.

good trading,steve

Nice one Dude! I didn't realise that.

 

[johnpinochet]

Quote from 4re:

Oh Dude,
I may have made it sound like you didn't dedicate yourself to it but I really didn't mean it like that. I know where you are coming from as well. I don't know if it might be that each individual has to find what works for them or something like that. I thought my method was about as easy as it gets but I was working with a couple of guys that no matter how I showed them my method it did not work for them. I have tried other successful methods that I could not for the life of me make them work.

You guys have a good night and I'll be back by the opening bell.
Gary

OK, understood. Just wanted to clarifiy things. Excellent work here by the way. I hope to branch out into the S&P from the 30 year and 10 year soon. The "feel" of the market is completely different to me though. Either you or JimmyJam suggested that once you learn how to trade one market you should be able to trade them all. I think generally speaking that is true, but each market does have a certain "feel" to it. For me the "feel" of the emini S&P is completely different from that of the 30 year and 10 year bond.

 

[johnpinochet]

Quote from billp:

Johnpinochet,

I am trying to learn delta myself. Have to admit I know what you are going through as I'm seeing the same things myself. At support that holds, it does not necessarily mean that it will have +ve delta etc. It is not so easy as that. I guess some people are able to master this method and some are not. Some will take a longer time than others and some faster. Nothing wrong with that. Eveyone has their own methods to success.

I'm still not giving up on this yet although I've been 2 mths at it on and off. At this moment I still find I'm way better at reading charts than at reading delta. 5pillars method--I've seen it work and don't work with my own eyes. Somehow 5pillars is a master in this. If only I can 'transfer that ability to me'--need to create a machine for that

Well, back to learning.

billp,

Thanks for confirmation that you see what I was talking about. I could easily see myself going back to it, if only I could master it. I'm missing the bar chart and the bid / ask numbers already!

John

 

[rverheyen]

Quote from 4re:

I think this has a lot to do with the fact that you wanted to learn something but instead of reading about and looking at you have tried to master it (I say tried because we never fully master). The same way I try to do with my method. If I am not mistaking you use this about the same way Romik and I use T & S don't you?

I have the impression that T&S is very dificult to understand. At least I'm not able to "read" it or to get any usefull information out of it.

I have it open and the only thing I noticed was yesterday that it was red completely and ES still moved up.

I didn't see any information regarding this in your previous posts.

Can you explain the basics? What to look for. How to spot s/r and the difference between consolidation or trend reversal?

 

[johnpinochet]

Quote from 5Pillars:

What "delta" number (specifically)?

...and how is the number unreliable.....unreliable to do what?



Help me to understand what you were trying to use the "delta" for.....thanks.

5Pillars,

Sometime in the next few hours I'll reply to this as well as the quiz. It may not be until after 0730 CST as I've been waiting for today's reports since Monday.

I thank you for taking the time to help me.

John