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Trading For Living - S&P 500 Market.
- Thread starter Trading4Living
- Start date
Quote from Trading4Living:
you still have no idea how I trade or what price action I need as a confirmation so cut the crap...
If threre is something I understand, is price action, because it is the only method I trade, as all else is worthless.
My point which is the same point I had on my first post of this thread, is that if price action says we turn, adv-decl wont' tell you any sooner.
Watching Adv-Decl is useless.
Incognito
(thread hijack)
It never ceases to amaze me how on ET when someone finds something that works well for THEM it's suddenly open season on them by folks looking to trash 'em and their strategy.
I'll link to what I said in another thread that devolved along similar lines:
http://elitetrader.com/vb/showthread.php?s=&postid=1945826#post1945826
(end thread hijack)
It never ceases to amaze me how on ET when someone finds something that works well for THEM it's suddenly open season on them by folks looking to trash 'em and their strategy.
I'll link to what I said in another thread that devolved along similar lines:
http://elitetrader.com/vb/showthread.php?s=&postid=1945826#post1945826
(end thread hijack)
Quote from rickf:
(thread hijack)
It never ceases to amaze me how on ET when someone finds something that works well for THEM it's suddenly open season on them by folks looking to trash 'em and their strategy.
I'll link to what I said in another thread that devolved along similar lines:
http://elitetrader.com/vb/showthread.php?s=&postid=1945826#post1945826
(end thread hijack)
Perhaps because of the constant worthless info posted.
You really think this Adv-Decl works?
You think Volente's Rule of Crap 10 works ?
How about chart patterns, think they work over time ?
MA Crossovers ?
I could go on posting worthless methods but I think you get the picture.
There is a reason 95%+, or whatever the hell that number is, does not make it and that reason is because the only thing that works cannot be explained in a freaking ET thread. The market is way too complex, the psychology involved goes beyond words because the winning formula is directly related to years and years of experience.
It just shows the ignorance that adorns this forum.
Show me someone talking about Wyckoff and I assure you, I will shut the fuck up, in the meantime when I see a bullshit method I will raise hell because it's false spread of information.
Incognito
Quote from Incognito:
If threre is something I understand, is price action, because it is the only method I trade, as all else is worthless.
My point which is the same point I had on my first post of this thread, is that if price action says we turn, adv-decl wont' tell you any sooner.
Watching Adv-Decl is useless.
Incognito
Hi Incognito,
I am an advocate of price action as well. Let's get your
scalper thread going since I am interested in your input.
Posting some charts would be appreciated.
Quote from Trading4Living:
ok here is the deal... After the market starts I watch the ADVDEC Issues for a serious move in the first 30 mins. It happens 2 or 3 times a week that the ADVDEC rockets to a significant level let's say for example +6000 (in the first 30 mins) numbers might be different in your chart...
So if it moved that big within the first 30 mins (most of the time it happens in 15 mins) it means that the market is most probably will trend this day upwards.. so I get in early based on the price action.. ofcourse the price must move in the same direction as the advdec.. so if advdec hits the +6000 level withing the first 30 minsplus price action confirmed I get in and get my 2 points early in the day.
vice versa if it reach -6000 level this time I go short for 2 points..
now it happens like 1 or 2 times a month that the advdec hits the +/-10000 level in the first 30 mins
if that happens I ride the trade all day
making a very nice profit
that's it in a nutshell
don't expect me to teach every one here and give you the exact thing and coach millions here.. I posted the outlines so you guys know how I manage to make those trades.
Just thought I'd tell you that I watch the NYSE A/D line everyday. I've watched it for decades. LOL. Believe me, I wouldn't be watching it if I didn't think there was something useful in it. I don't do anything as formal as watching a chart of it. I just watch how it acts relative to what the market does.
That said, on the NYSE there are something like 3200 stocks that trade. Where do you get the number 6000? Or 10000?
Thanks
OldTrader
Quote from Incognito:
If threre is something I understand, is price action, because it is the only method I trade, as all else is worthless.
My point which is the same point I had on my first post of this thread, is that if price action says we turn, adv-decl wont' tell you any sooner.
Watching Adv-Decl is useless.
Incognito
You got a few things to learn. Price action is definitely valuable. I use it myself. But everything else is not worthless.
Rather, there is a whole variety of things that provide context to price action. If you don't understand the context then you are basically doomed to chasing ticks around.
You're right....price action will tell you when a turn is at hand, sometimes well before the A/D says anything. Of course, price action will tell you of some little piker turn as well, which had you known the context of the market you might have ignored. In fact, you might have used that small contra-trend move to establish or add to a position.
By the way, there are times when the A/D is definitely telling you a specific direction. Price action won't go for long against the entire market unless something changes in the A/D.
OldTrader
Quote from OldTrader:
You got a few things to learn. Price action is definitely valuable. I use it myself. But everything else is not worthless.
Rather, there is a whole variety of things that provide context to price action. If you don't understand the context then you are basically doomed to chasing ticks around.
You're right....price action will tell you when a turn is at hand, sometimes well before the A/D says anything. Of course, price action will tell you of some little piker turn as well, which had you known the context of the market you might have ignored. In fact, you might have used that small contra-trend move to establish or add to a position.
By the way, there are times when the A/D is definitely telling you a specific direction. Price action won't go for long against the entire market unless something changes in the A/D.
OldTrader
Couldn't agree more
So once ADV/DECL gives you a strong reading and price follows, do you just enter indiscriminately at that point, either at the 15 or 30-minute mark? Or do you have specific timing criteria in addition to this directional criteria which is identified at the 15- or 30-minute mark?Quote from Trading4Living:
ok here is the deal... After the market starts I watch the ADVDEC Issues for a serious move in the first 30 mins. It happens 2 or 3 times a week that the ADVDEC rockets to a significant level let's say for example +6000 (in the first 30 mins) numbers might be different in your chart...
So if it moved that big within the first 30 mins (most of the time it happens in 15 mins) it means that the market is most probably will trend this day upwards.. so I get in early based on the price action.. ofcourse the price must move in the same direction as the advdec.. so if advdec hits the +6000 level withing the first 30 minsplus price action confirmed I get in and get my 2 points early in the day...