Trading the Pivots

Thanks for the posts.

Part of my goal in this thread is to create a system, available to the general public (by default) which has a high positive expectation, can generate good signals, and doesn't require too much analysis to inititate.

You do all your thinking before you enter a trade, not during, and certainly not afterwards.

Using the 50 CCI Histogram this morning, a Buy trade would have been taken (as it was), but then, when the Pivot was hit again on the downside a Reversal Short would have been taken as well ... and it would have protected us from taking the Long Trade on Monday

BTW, another Buy trade is shaping up for this afternoon ...

JJ

edit: I also have to concentrate on my own trading ... so feel free to pull up a chart and make a posts, as I won't always be able to.
 

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Quote from JimmyJam:

Thanks for the posts.

Part of my goal in this thread is to create a system, available to the general public (by default) which has a high positive expectation, can generate good signals, and doesn't require too much analysis to inititate.

You do all your thinking before you enter a trade, not during, and certainly not afterwards.

Using the 50 CCI Histogram this morning, a Buy trade would have been taken (as it was), but then, when the Pivot was hit again on the downside a Reversal Short would have been taken as well ... and it would have protected us from taking the Long Trade on Monday

BTW, another Buy trade is shaping up for this afternoon ...

JJ

edit: I also have to concentrate on my own trading ... so feel free to pull up a chart and make a posts, as I won't always be able to.
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Won't we get a continuation sell signal IF prices move back below the 18 and the CCI goes negative?
 
Quote from DonKee:

Won't we get a continuation sell signal IF prices move back below the 18 and the CCI goes negative?
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... ah, I love it when you ask these questions, it forces me to think and reiterates the strength of the trading system for me.

The answer to your question is:

Yes, it would be a Continuation Sell signal off of S1, however, I don't like to sell S1 until a downturn in the Pivot Trend has taken place. The Pivot Trend is currently Neutral for the ES (but it is negative for NQ).

For the folks who like to monitor the TRIN, notice that it is at 0.99 denoting Buying the Dip action is taking place, not, the Sky is Falling, Sell Sell!

These are the tools I'm using to make logical decisions in the market, if the logic doesn't hold, it doesn't hold, but this is how I'm going to play it for now.

I should have 1/2 hour or so to get some coffee before the upswing (if it happens).

Best Regards,

JJ
 
Continuation Sell?

CCI below 0
Prices Below 18 sma

I'll take it with a stop above S1 1298.25

Only risking 2.75 points

I will move stop down if market moves my way.
 

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Quote from DonKee:

Continuation Sell?

CCI below 0
Prices Below 18 sma

I'll take it with a stop above S1 1298.25

Only risking 2.75 points

I will move stop down if market moves my way.
More...

Nice chart Don.

It's a weak sell and the market should bounce back, I'd take 2 pts (if you can get it) and move my stop to breakeven.

P.S. See the above post to see why I didn't take it.

Later,

JJ
 
Re: Trin

I do watch the trin, but I always look at the top 10 volume leaders, here is why.

F, LU, GTW are all low priced stocks, and account for over 70 million shares so far. That is more than the next 7 volume leaders combined.

You, also, have GTW and LU in arb mode and F says they also want to talk about a combo with a foreign auto maker. Thus you have 70 million shares, of which 2/3 is on advancing stocks, having nothing to do with the market direction.
 
Quote from DonKee:

Re: Trin

I do watch the trin, but I always look at the top 10 volume leaders, here is why.

F, LU, GTW are all low priced stocks, and account for over 70 million shares so far. That is more than the next 7 volume leaders combined.

You, also, have GTW and LU in arb mode and F says they also want to talk about a combo with a foreign auto maker. Thus you have 70 million shares, of which 2/3 is on advancing stocks, having nothing to do with the market direction.
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Now that's what I call some great information!

That's OK, the market still isn't going down from here :p !

Gimme 5 min.

Later,

JJ
 
Quote from JimmyJam:

Now that's what I call some great information!

That's OK, the market still isn't going down from here :p !

Gimme 5 min.

Later,

JJ
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but IMO there are higher odds of it being sold, 95.50 is providing a clear support at the moment, as could have been expected, will it hold or will it fail? that is a more appropriate question IMO, if it fails I will resume a short, it has been a pretty strong trend day so far, wouldn't you agree?
 
Quote from romik:

but IMO there are higher odds of it being sold, 95.50 is providing a clear support at the moment, as could have been expected, will it hold or will it fail? that is a more appropriate question IMO, if it fails I will resume a short, it has been a pretty strong trend day so far, wouldn't you agree?
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This mornings action was a continuation (and completion) of yesterday's sell-off. It isn't apparent because we are trading on such tight ranges intra-day, but it's true (yeah, I saw Gary's comment too).

Right or wrong, quote me on that at the end of the day today (8/23/06).

Jimmy Jam

:)
 
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