The Ultimate DAX Scalping Discussion Thread!
- Thread starter Scientist
- Start date
The crews(12) aloft on site at that time in 'nam had support recon doing 12 hour stints out of Phillipines. There was one refuel for them on site during the 12 hour stint. The newest migs were always flown by russians at that time. Russian's way of voicing stuff was a giveaway. On site crews trained in US for a long time to get it down.
Today, upcoming in Iraq will be the marine replacements for the 4th army. It will be nice to see the revised manner in which the marines will establish relations for the June US exits coming up. I will be so happy to see the losses and injuies cut down ASAP. What a tough duty for the Army personel.
I hope the work outs on debt begin with the Europeans and Russians so OPM money begins to dominate the scene for our exits.
I look forward to getting the "war" concept out of the global picture. Once we get a 24/7 going on global exchanges and the corporation equities approach (Balance of payments drives foriegn start ups nowadays and for past 10 years), we will see something like never before. Delaying this global electronic start up with war is such a dumb thing. This DAX thread originating in OZ is so kewl. If I had my way (selfishly), I would set up shop in Singapore.
Jack,
Reading attentfully Scientist's post, I fail to see were he talks about P-V relationships, except that possibly something about it might be hidden in Larry Harris' book. Scientist joins his warning though: "For those here who have a copy of Larry Harris' "Trading & Exchanges", you will find all sorts of stuff in there (~650 pages!), but nothing too much that will really make you a good trader."
In truth, P-V diagrams were presented by a man called Russel in his Dow Theory Newsletters way back in the 1950's and 1960's. some people looked at this but nobody found any use for it. In view of the importance you seem to attach to this, I can tell you that I rather share Scientist's opinion about this. I call this pure mumbo jumbo.
Unfortunately for this otherwise beautiful thread, you are burrowing in again with your skillful switching from one incoherent thing to another. Were you not talking to us about DOM in a lengthy post? Now at once you switch to your P-V story. In the meantime you published some incoherent graphical stuff which serves to prove what? These few purported trades can hardly convince anybody about the soundness of your invisible method.
I'll keep on panning gravel Jack,
nononsense
Thanks for pointing out the subject of the attachments.
The blank ADA column on the TD is used for SCT trading. We use the IF2 column for reversals in coached beginner trading. Ordinarily that column (IF2) is intermediate stuff.
With regard to your comments above that are personal, your space is a tough row to hoe.
It is incumbant on all trders to have familiarity with the markets in the trading universe. I have only been in ET for 11 months. I know what the people I track and monitor here trade. I have to, in order to learn from them.
I write primarily for beginners. Trading is a four step cycle repeated over and over as the minutes tick by during trading hours. I focus on getting across to others that skipping steps is not a possibility. A. gather data. B. do analysis. C. make decisions based upon NLP pictures. D. Take action in a timely manner.
I stump you with all the prints, trading descriptions and market logs. You cannot tell that on the records three markets are used. The prior posts by me in this thread, point all these things out. Some people here print out copies of posts and put them in three ring binders. Scientist has a super thread running here. It is worthcopying, punching and putting in a binder.
Once that is done notes can be put along side the printed copy on blank lefthand pages and in margins. High lighters can be used to key notes to copy. Black markers can be used to eradicate fluff and unimportant stuff. What is unimportant is stuff that is not understandable. Forget it and let go of the Martian portions you encounter.
Most people who find my stuff to be lousy, have a well defined space and are not interested in other viewpoints. That's life for them.
What appears to be gravel to you, and you collect it to throw it up in our faces, often is something way beyond MARS.
If a person does 40 trades a day and buys 10 points of spread as a cost of doing business, it is worth looking at the fact that his net is more than his cost of business.
when i suggested the a person can pull three times the daily range out of the market, i meant it. Pussies call that "ridiculous here. Read the attachments and find out how much was left on the table for those three days.
As attention span increases more is possible.
As skills increase more is possible
When you get to SCT and trade on several fractalos with segmented accounts, you find that you need topull quite a bit out of the market continually.
You enjoy your space. There are a lot of other ways to excell. Being an observer and not knowing what is going on is a waste.
Thanks a lot, Jack. Appreciate your comments. But I also think this is enough. Jack, you need to stay on topic, and you don't. Particularly not regarding the topic of this thread. Please remember that the topic is DAX Scalping. Your posts, while surely very interesting to many readers, are:
1) Not related to scalping (no, in fact the exact opposite, because you're talking SCT = always being in the market)
2) Not related in any way to DAX, or Eurex for that matter. You keep quoting samples applicable for ES, and SCT. We scalp, and we don't look at ES or any US markets. The reasons for this are plentiful
3) Very lengthy and distracting to the issue on topic, while often very hard to understand. This requires extra efforts in the field of:
4) Explanation. Your posts, since far-fetched in comparison to the mental horizon of most participants here, do require oodles of explanation and discussion. While surely interesting to some, it sure fills pages and pages of off-topic discussion on this thread, which could be much more elegantly placed in a special SCT thread - right?
Think about it, Jack. I think the topic of SCT deserves its own, dedicated thread, where all your comments and theories can be discussed in detail and without breaching the code of conduct - And without scaring away all those here who truly intend to look for a scalping thread. Some of which are be actual scalpers, like Cutten, velocity_trader, dpanic etc and myself.
Frankly, while I do have nothing against your contributions, I think they are misplaced here, and to open your own thread would improve both your and my representation of ideas and freedom of expressing them considerably.
You will be glad to hear that I have, for your convenience, already opened an SCT thread called nothing lesser than "Seamless Continuous Trading", and it can be found here:http://www.elitetrader.com/vb/showthread.php?s=&postid=411188#post411188
I ask everyone else here with further questions to Jack to please visit that thread and make them heard there. That thread shall exist in parallel to all the other excellent threads out there.
I also ask Jack to please inform Magna* or another moderator to transfer your posts on this thread to that thread, which will give it a great head start. Since the moderators have previously done you that favor, I am sure they will not decline - and it will save me having to request it myself!
Many thanks for your courtesy and sincerest apologies for any inconveniences arisen!
Sincerely,
Scientist
How would you define this feature exactly? In simplistic terms, are we talking about adding up the five Bid levels and the five Ask levels, and displaying those two numbers as a % of all 10 levels combined? So when you see figures like "Bids: 70%, Asks: 30%" ...start selling as a good contrarian should?
Or are two simple % numbers too crude for your tastes? (you previously talked about displaying such stuff graphically and looking for 'absolute' (no. of contracts) differences between the cumulative bids and cumulative asks). It seems to me that such thinking would work better in more voluminous markets like ES, no?
Rgds,
Your favorite Troll
Hi JR! Yes, that is pretty much what I had in mind. The basic concept idea I had was to be able to set a relative cumulative (5 level sum on each side) volume ratio or percentage (such as 1.5, 1.7, 2.0 or 150%, 170%, 200%) and to change the color of the cumulative volume number (background) when this "threshold" level is reached. So, for example, if cumulative ask was 1.5X larger than cumulative bid, that side's cumulative volume bar would turn black, or whatever.
A further extension of this idea which I have in mind now is to, rather than having "set ratios", displaying the relative ratio in "growing bars", so if the ratio of one side to the other is 1.5:1, the bar would be filled to 50%, at 1.7 to 70%, and at a ratio of 2:1 finally 100%. This would further improve visualization.
I have long elaborated these ideas and discussed them with the head of the ButtonTrader platform - He is already working on implementing this feature and it is only a matter of time until it will be available.
The answer to this is actually: No!Or are two simple % numbers too crude for your tastes? (you previously talked about displaying such stuff graphically and looking for 'absolute' (no. of contracts) differences between the cumulative bids and cumulative asks). And do you lend any credence to this thinking in thinner markets like the Dax?
Rgds,
Your favorite Troll
No, I do not lend full credibility to this thinking in either DAX or CAC40, because they are indeed too thin. While the cumulative volume thing applies here just as in any other market, I do personally not solely rely on it. Instead, I look at the cumulative volume of ESTX50 and GBL(BUND). If the ask is large on ESTX and the bid is large on BUND, then you have the "situation" you want. That's what I look for in terms of giving me direction. To then wait until the DAX matches up is the best you can get. Better even, to read the spread between the DAX futures and the DAX index - for an ultimate view of relative position to the market.
Not least also since it can be difficult to establish where exactly the volume sits, because you can only see 5 levels, and the DAX can move 5 levels in no time. ButtonTrader's volume pressure chart helps well to compensate for this by "memorizing" where the volume was, but still - Visibility remain higher in the "slower" indexes.
Later, when the US markets open, I ditch ESTX and look at the cumulatives of ES, NQ and BUND. I like to see the ES & NQ match up and not argue about cumulative. I tend to wait until either one wins the tug of war, then make a decision. BUND helps to further reinforce this, and has an effect on the DAX for as long as it's open. Yet, I would say stay focused on ES/NQ with their sheer power. Once the US opens, the EU is simply enslaved...
Regards,
Scientist
Scientist,
did you know that the institutional eurex guys can see 10 levels of depth?
Excellent thread
Hi Scientist
I read that IB and most feeds use a snapshot instead of showing all ticks. This to save bandwith. I guess it affects market depths and tape also but i am not sure. Someone in another thread complained about it and thought softwares like Buttontrader that use IB data are not so useful because of this.
Do you know if this is a problem? If you make money i guess it´s not..
I read that IB and most feeds use a snapshot instead of showing all ticks. This to save bandwith. I guess it affects market depths and tape also but i am not sure. Someone in another thread complained about it and thought softwares like Buttontrader that use IB data are not so useful because of this.
Do you know if this is a problem? If you make money i guess it´s not..
With apologies, a few thoughts on Grob's perspective.
- "Everyone gets what they want from the market"
- The Emporer's New Clothes
&
- Confusing explanations illustrate weak communication
I am aware that as a relative new comer to this board, these comments are somewhat rude. However, taking Grob's fractal "lessons" as examples of nuggets within sand dunes is dangerous.
Newcomers to trading take note: markets go up, stay the same or go down. Over complex analysis will do you more harm than good. While I certainly maintain that paying heed to the maxim 'each to their own' is wise, don't let yourselves fall into traps/advice you don't understand. I for one can take little of value from posts which are so unclear as to be detremental to my trading approach.
The most powerful ideas really are the simplest. Trade with the trend, keep risk controlled, be humble, trade for the longer term - i.e. don't bet the house every day etc.
*** There is no Holy Grail ***