Simple Profitable Method
- Thread starter trader28
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wow! the way that market popped after lunch I guess I'm not that surprized.
Ithe bitchin bull is back, he just won't die!
Dang good day, I'm makin a cocktail!
Can you say big resistance at 12120? I guess there was good evidence of a big triangle put together.
I believe that bull, it sniffed that daily trendline coming up around 12050.
I am starting to feel some confidence in using the priior days closing range and the daily pivot point as the filters for strength and weakness. There were 3 hits at this level in the hour prior to the big pop. There was a beautifull T28 signal at 12168 right after that third bottom.
Ithe bitchin bull is back, he just won't die!
Dang good day, I'm makin a cocktail!
Can you say big resistance at 12120? I guess there was good evidence of a big triangle put together.
I believe that bull, it sniffed that daily trendline coming up around 12050.
I am starting to feel some confidence in using the priior days closing range and the daily pivot point as the filters for strength and weakness. There were 3 hits at this level in the hour prior to the big pop. There was a beautifull T28 signal at 12168 right after that third bottom.
Lunch is lunch..I eat lunch at 12:00. Some go to lunch at 12:30 and others go earlier or later. The idea that one should stay out of a trade because people are eating lunch depends on whether you trade intraday or swing. Its common sense (a commodity that is apparently hard to come by here at ET).
Finally, you rocket scientists fail to take into account the fact that the majority of NYSE volume is generated by automatic execution (programs) and these programs don't eat lunch. They sit there waiting for specific setups to occur and then trigger. That is why spikes occur inside the lunch hour that you folks are so damned concerned about.
Ultimately whether you trade the lunch hour or not depends on your skill set. If you have a way to "see the market" during lunch you can make money by holding through the hour, perhaps hedged for instance. Then if you are sharp enough, you might write your own program to automatically take profits on a position you have on when a programmed buy/sell spike occurs. Depends on how you want to play it and the kinds of resources you have available.
Most of you hosebags shouldn't be in the market during "normal" hours let alone lunch time...
Keep working on your English Screwy
Steve
Finally, you rocket scientists fail to take into account the fact that the majority of NYSE volume is generated by automatic execution (programs) and these programs don't eat lunch. They sit there waiting for specific setups to occur and then trigger. That is why spikes occur inside the lunch hour that you folks are so damned concerned about.
Ultimately whether you trade the lunch hour or not depends on your skill set. If you have a way to "see the market" during lunch you can make money by holding through the hour, perhaps hedged for instance. Then if you are sharp enough, you might write your own program to automatically take profits on a position you have on when a programmed buy/sell spike occurs. Depends on how you want to play it and the kinds of resources you have available.
Most of you hosebags shouldn't be in the market during "normal" hours let alone lunch time...
Keep working on your English Screwy
Steve
Here's my chart for the day
Rules?... thats news to us
FOMC day... crap on a stick... may as well go to bed right now
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