The 7:30am spike?

I just wish people didn't have to be so negative on this board. I'm pretty much convinced this place is full of people with big egos and small trading accounts. Real traders are too busy trading to engage in this kind of BS (referring to the last two posts in particular).
 
Quote from andrewbee:

I just wish people didn't have to be so negative on this board. I'm pretty much convinced this place is full of people with big egos and small trading accounts. Real traders are too busy trading to engage in this kind of BS (referring to the last two posts in particular).
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Don't get your panties in a twist there Pumpkin. .... First of all, what I posted wasn't directed at you. ..... Secondly, I posted that at approx 6 PM EST on a Friday. Please tell me what 'real traders' are trading at that time?

P.S. You should probably bookmark this......

http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm
 
Quote from andrewbee:

I just wish people didn't have to be so negative on this board. I'm pretty much convinced this place is full of people with big egos and small trading accounts. Real traders are too busy trading to engage in this kind of BS (referring to the last two posts in particular).
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lol @ real traders. there isn't that much work to do.
 
Quote from andrewbee:

No shit, Sherlock. Yes, I know about those things. But they don't affect my trading.

I'm not sure what is so hard to understand about the fact that I run a purely mechanical system, every hour the market is open, through both run-ups and drawdowns. Needless to say, if the run-ups didn't outweigh the drawdowns, I would not be doing it.

The only thing that matters to me is price action. Emotions? TA? Fundamentals? Guesswork? You can keep them. I love not having the stress that goes with trying to predict market direction, entry and exit points.
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sorry i should have been more clear. you know that inflation, gdp, and so on are released 8:30 est, right? did you know crude inventories are released at 10:30 est (it has been moved back to 10:35 est the past couple weeks) wednesday and nat gas at the same time thursday? did you ever wonder why oil and gas stocks spike at that time?

good luck and good trading. don't be afraid to open your eyes to other parts of the market as well. you might learn something new. :)
 
Can anyone tell me why the price action on the cbot completely dries up between 4 & 5.30 pm?
It gets so quiet it might as well be closed...
 
Quote from forestfire:

Can anyone tell me why the price action on the cbot completely dries up between 4 & 5.30 pm?
It gets so quiet it might as well be closed...
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Depends what you mean by dries up. It does flatten out a lot, but not completely. You can still get 10-15 point moves in that time. I think people are just taking a breather after the end of the market session before deciding on the next play.

Some of the most interesting stuff happens overnight, IMO, and that's where a significant portion of my profits come from.
 
Quote from forestfire:

Can anyone tell me why the price action on the cbot completely dries up between 4 & 5.30 pm?
It gets so quiet it might as well be closed...
More...

LOL. He fell for it too.
 
Quote from andrewbee:

I thought it was a pretty straightforward question really, driven by curiosity more than anything, that has been turned into a massive discussion by people who misunderstood where I was coming from.
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You don't even know. One time I started a thread with a grammatical error in it. The shit storm that followed surprised even me. I think it has to do with the fact that the VAST majority of traders lose money...and yea theyre all here lol.
 
Unless you are brand new to trading (which the OP said he wasn't) you SHOULD know that 8:30 EST is a time in which some major economic news is released.

Quote from jonbig04:

You don't even know. One time I started a thread with a grammatical error in it. The shit storm that followed surprised even me. I think it has to do with the fact that the VAST majority of traders lose money...and yea theyre all here lol.
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