The ER2 Trading Journal

Quote from ozzy:

Hi Trade4,

Couple Q's
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1) What parameters are you using for the regression channel and how'd ya get it blue and white like that.

2) Any reason for choosing 667 TICK and what minute T/F is that equivalent to (approx).

Thanks in Advance.
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Ozzy,

I use 25 bars (period). I use (H+L+C)/3 as the data point. Please see attached file.

I tried different timeframes, 667 tick chart might be between 8 minutes to 15 minutes. Since it is a pure tick based chart, which actually reflects the actual buys/sells momentum and they're timeless - does not consider the time elapsed between ticks. sometimes it is hard to compare with the time-based price chart. For example, for the after hour tradings, it put no distances at all, just a continous of the yesterday's action for a few bars.
 

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Quote from steve46:

Thanks. Two things to mention. First you picked a top, which is hard to do. So you are seeing the market pretty good.


and two, you are getting in early, which is good (as long as you control risk properly).


Most folks here (the ones who actually pull the trigger) are late to the party and pay the price by getting flushed out. Some can get the position on, but take profits prematurely. Either way you have a prob keeping your account funded. Good job today.

Steve
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Steve, thanks.

I'm more an anticipation (of the price movement) type guy. Trying to use a system to guess the top/bottom or guess the market direction before turning north or south.

For example when it was at 694, three different indicators indicated it was a turning point, the uptrend was broken, it started the consolidation.

The short-term MACDs start to fall below the long-term MACDs, (as I said last night or early this morning, it is almost a sure thing to go short when it happens). ADX was over 40 on 667 ticks chart. The best time to go short is when ADX starts to fall, when ADX falls from 40, the previous trend shall be weaken, the price shall start to fall. Also, the regression channel generated fall signals across different timeframes.

When the L-T MACDs turned red, it was still over 693, that's a sure signal to go short.
 

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Looking at its chart, ER2 probable has some more room to go down and consolidate. If it happens, here are the numbers:

It bounced from 61.8% (687) to 668s (50%). If it goes down, the next support is at 78.6% retracement at $685.2, then the low of yestreday at 682.5.

If it wants to go up, again, we're looking 694 as a strong resistence.

THis is the inverted Fisher RSI chart along with the fib #s.
 

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By looking at its daily chart, if ER2 reaches 682.5, then it would touch the trendline. This would be a super entry for tomorrow if they want to take it down to that far. You never know, they did that yesterday easily, loaded up and dumped today, they mgiht repeat it again.
 

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This question is a little off topic.

** If somone can make 25-30 points in the ER2 with 2 contracts on a weekly basis. Would an a hedge fund/ I-Bank be interested.
** If they were interested how much would he be worth.
** Also using 2 contracts. What are the top ER2 traders pulling in per week (on a point basis).

Thanks.
 
I was reading your very useful post as I day trade IWM (ETF of $RUT)& trade options on IWM.I use the Prophet charts offered by my broker with live feed.Some times Prophet feed freezes in the Java flatform. Could you throw some light on the software/feed as used by most of you.
Thanks-sammy
 
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