SPM discussions

[sandygray66]

Hey what happened to all the SPM afficionados? Where's T28 (or at least his latest incarnation)? Did ET finally figure out a way to get him permanently banned (I hope not)? Did Jack hunt him down in Australia?

SPM still looks to be working well even on a choppy day like yesterday (except the 11:30 - 14:00 EST zone, and even then it still seems to work with tighter stops and targets).

Given there's some ambiguity on entry techniques, I thought I'd toss in my 2 cents. I have found that when you're in the zone for an entry (ZLC or recross of MACD over the MACD avg on correct side of ZL), use a faster chart to look for a break of a price pivot on that chart, using a stop for an entry. I like the 150T, but any faster tick/volume chart would do. On that faster chart, I prefer using just bars, not candles, to make it easier to read the price action (bar closes and opens on that kind of fast chart really don't have any relevance....it's the high and low price pivots that matter).

Hope others are doing well with SPM.

 

[sandygray66]

Yes, a very understandable priority. See you Monday, after your weekend conquests.

 

[brownsfan019]

Quote from sandygray66:

Hey what happened to all the SPM afficionados? Where's T28 (or at least his latest incarnation)? Did ET finally figure out a way to get him permanently banned (I hope not)? Did Jack hunt him down in Australia?

SPM still looks to be working well even on a choppy day like yesterday (except the 11:30 - 14:00 EST zone, and even then it still seems to work with tighter stops and targets).

Given there's some ambiguity on entry techniques, I thought I'd toss in my 2 cents. I have found that when you're in the zone for an entry (ZLC or recross of MACD over the MACD avg on correct side of ZL), use a faster chart to look for a break of a price pivot on that chart, using a stop for an entry. I like the 150T, but any faster tick/volume chart would do. On that faster chart, I prefer using just bars, not candles, to make it easier to read the price action (bar closes and opens on that kind of fast chart really don't have any relevance....it's the high and low price pivots that matter).

Hope others are doing well with SPM.

Interesting post SG.

Post a few charts if you got some time for us visual learners.

 

[sandygray66]

Quote from brownsfan019:

Interesting post SG.

Post a few charts if you got some time for us visual learners.

Here's the first entry on Friday.....

<img src=http://elitetrader.com/vb/attachment.php?s=&postid=2167529 width=800>
click on attachment to enlarge

 

[sandygray66]

.....the second.....

<img src=http://elitetrader.com/vb/attachment.php?s=&postid=2167531 width=800>

 

[sandygray66]

.....and the third.

<img src=http://elitetrader.com/vb/attachment.php?s=&postid=2167539 width=800>

 

[chrisofj]

I've been using SPM to better time the stock trading I do. I usually would watch futures anyway so now I have a better tool for gauging if I want to get into some long or short I am eyeing. I have also been watching how it can read price action on these same stocks.

In general I have been looking at the russell as far as actually trading this with a futures. I want some more screen time to really be able to see if I can tell it is coming up on a larger futs swing which if you notice is what the op was posting about. In order to do this I would have to not take a whole lot of other signals, especially those false crosses that uncross themselves.

I still have two coded versions running realtime, and I'm about to work on another incarnation of a coded version.

One question I am trying to answer is if a chart and an indicator is some derivative of some price action I want to trade, what is that price action and what does it look like in time and sales and level2. This can be easier to see on some stocks especially if they occasionally lag the futures.

I've been following a pattern of seeing "perhaps there will be a signal off of SPM in the next 5 minutes" then watching some weak stock, then seeing the SPM signal in futs but this weak stock hasn't moved much yet. Then I hit that, been nice, of course in historic selling it's all good.

 

[Hombre]

Quote from sandygray66:

Here's the first entry on Friday.....

Thans for posting these charts.
Everybody can see how the MACD confirms the correct price reading.

 

[stoshski]

For those using QT-a simple code for a paintbar to help.

<a href="http://tinypic.com" target="_blank"><img src="http://i33.tinypic.com/wiwnja.jpg" border="0" alt="Image and video hosting by TinyPic" width=800></a>


<a href="http://tinypic.com" target="_blank"><img src="http://i35.tinypic.com/2cnfgc1.jpg" border="0" alt="Image and video hosting by TinyPic"></a>

 

[MandelbrotSet]

Quote from sandygray66:

Hey what happened to all the SPM afficionados?

The originals are still here ... and from the looks of it, there have been quite a few more added to the group ... welcome.

Quote from sandygray66:

Where's T28 (or at least his latest incarnation)? Did ET finally figure out a way to get him permanently banned (I hope not)? Did Jack hunt him down in Australia?

Asked and Answered, LOL.

Quote from sandygray66:

SPM still looks to be working well even on a choppy day like yesterday (except the 11:30 - 14:00 EST zone, and even then it still seems to work with tighter stops and targets).

Yeah, you're right, but I kinda overdid it last Friday. I was up almost a "G", overtraded and lost a lot of it back to the market, and then wouldn't take the short-term profits when they were offered to me, but held out for the bigger moves (which you obviously won't get when price action has a tighter range) ... but the take is still pretty good. $545.00

Quote from sandygray66:

Given there's some ambiguity on entry techniques, I thought I'd toss in my 2 cents. I have found that when you're in the zone for an entry (ZLC or recross of MACD over the MACD avg on correct side of ZL), use a faster chart to look for a break of a price pivot on that chart, using a stop for an entry. I like the 150T, but any faster tick/volume chart would do. On that faster chart, I prefer using just bars, not candles, to make it easier to read the price action (bar closes and opens on that kind of fast chart really don't have any relevance....it's the high and low price pivots that matter).

Nice contribution. Your take on SPM combined with stochki's gives a new spin on using SPM and offer some insight on how to use in a wide variety of market conditions.

Quote from sandygray66:

Hope others are doing well with SPM.

Yeah, me too.

I hope they take the ideas presented here and run with them.