Steve46 and Hypostomus Debate Trading Strategy

Quote from hypostomus:

So you are big on S/R established from previous trading days or from longer term trend lines? Not much on that kind of voodoo myself, I have even stranger voodoo!
More...

Its a small part of my toolbox. It gives me a rough guide to market "mood".

Anything over 1565 is an exit signal for me NQ short here. I may have positioned myself around too many buyers here:)

Mike

P.S. Its tough to watch a market and type this at the same time. Not doing it anymore... need to focus here.
 
Quote from hypostomus:

Understood. I'm out. Under 350 cars a minute and I don't play.
More...
True, it is safer to play in traffic. That's why, all else being equal, I favor ES. But I have been following NQ (again) lately for those cases where there is either no clear ES signal or a missed one, and where NQ is patiently waiting, in her best party dress, to be asked to dance.

I, too, don't put much stock in S/R. It does not really appear to add any tangible value in the context of my approach.
 
Washed the trade for B/E - too much time spent near my entry. The market may have traded back to 1561 and offered me a profit, but, I positioned myself incorrectly.


EDIT: There she's a poppin'
 
Some Costello trading advice for you. When volume is low, meaning there is no significant retail trade market order pressure and no interest from those fucking stupid breakout MO computers, the NQ MMs take the insdie market wherever it suits them to create volume. On an afternoon like today's, it is tempting to play. On most days, however, it's just "please take my money!".
 
Great example of stop running there:) It pushes over 1565,1566, gets all those stops and reverses. Beautiful action - I knew I was meat when we spent too much time aroun 1564. Love the futs:)
 
That's lame. Why move us into chit chat?

I realize that the beginning of this thread contained massive amounts of shit, but its slowly recovering. You know, like what fertilizer does to a barren farm :)
 
Quote from hypostomus:

Chart the VWAP?
More...
sorry do you mind elaborating on this point please? e.g. do you have a real-time VWAP price calculated by the CME to chart from? sorry for the silly question, where i'm coming from is the forex, and we do have a concept of instantaneous VWAP 'visualization' of prices if you will, but thats nothing chartable really, therefore i assume you may be referring to sthg different that's available to you on the futures mkts, such as i attempted to describe afore? thks
 
You must log in or register to reply here.
Back
Top