Why Is The Obvious Not So Obvious?

Quote from bogan22:

Mk, good to see you back again :D
ML, to many M's I'm old and get confused :p

1. Find suitable trading candidates. TE indicated a method he/she used for reducing the amount of stocks to a manageable amount based on the amount the stock moved. This group of stocks moved a enough points a day to enable TE to set up reasonable risk/reward trades.
2. Identify suitable candidates from list based on methodology. TFF grooves, BOX, MTFA etc.

Cheers
Bogan22
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B22..TO has some bad news for u about the long put option trade:(
 
i have tried for some time to follow RSC and it isnt recognizing the movement or when something is going to happen but trying to figure which side to bet on and when it is right or wrong. is that where experience comes into play?

btw, good to see everyone
 
Quote from The Oracle:

well done ML..u got it:)

RSC...what do i see

R=Rate
S=Size
C=Color

Rate.... ...... .. ..... .... ....... .... ..... ....... .... ........ .. ......

size is simple..u can see the volume prints as the trades are executed

color..if u just go on the last price..green for up tick..and red for down tick..then u will miss some important information

what is handy to see..without thinking about it..is..whether the volume prints are at the bid..or the ask..u can go oustide the bid/ask as well with diff colors..but might not be of any real benefit

if u look at the ninjatrader layout i posted..u will see that there are 2 t&s screens for ES & NQ together..so..when the price is nearing a major S&R level..u will see the difference clearly in the T&S screens..hell..u will even see divergence without looking at a chart
:)

this is common stuff..no big deal..it just needs many hours of looking..AND TRADING..to get a feel for it..no need to pay 950 quid to anyone..really:D

rate..the speed at which the prints go off..is important..and that should be obvious..momentum is building and something is going to give fairly soon..BUT..u need the chart AS WELL..u must use all together to reduce ur risk..which means entering at a level that will not go too far against u when filled..

it really is very exciting..just don't get carried away and think u are going to make a fortune by using it..for it is but one component of a trading process that u must understand and master..which takes time..which means a lot of practice..and..u can sim trade if u like..but it is far better to do it with small size..even 50 shares if u have too..or use the ES options instead of the ES futures contract..that way u will not lose as much for each tick on the ES..and u will also have the added benefit of knowing ur risk is limited to what u have paid for the option..and u might even have some time left for it to recover if it goes against u..just be careful not to buy too highly priced options..keep to the next expiry and nearest to the futures as possible with a reasonable delta..maybe .2 to .4..but look and see..no good picking something that is not going to move at all..actually..did TO not already show u how to SEE an option strike candidate for possible trade:)


RSC..what do i see

R=Rate..the rhythm
S=Size..the opinion
C=Color..the direction

not sure if this means anything to anyone..but it really does not matter what TO says..remember the famous quote:D

damn..smiley count increasing again..hard to kick old habits:D

TO
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Thank you very much TO (and TFF)!!!
Now that I have some starting point, I need to work my way up slowly. No. 1 is burned in my brain, now need to work on no. 2 :)

I am stuck on the treadmill like many others and slowly need to ease off. It won't be easy, but that is reality!

btw your 1355 puts are ROCKING today :D
 
Quote from The Oracle:

5zlhmf.png
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For anyone not using quotetracker the following html files display charts for the Dow 30 stocks. Possibly something like these files have already been posted in this thread before. Note the file extension has been changed to txt to allow the file to be attached.

I noticed that the charts from yahoo now appear to be up to date after each refresh, and no longer delayed by 15 mins. That must be a recent change by yahoo.

1 day chart
 

Attachments

cool charts MN..i had forgotten u are a computer chappy:D

QT and IB are best of course..but they are good for anyone with no access..as u say

spotted something today that might come in handy for ES trading..worth trying out..need to update the T&S excel file with link to IB..i noticed earlier that the bastards might keep the ES below 1350 for expiry..which they did..it was an exciting end at close today:)

TO
 
Quote from mekanikal:

Thank you very much TO (and TFF)!!!
Now that I have some starting point, I need to work my way up slowly. No. 1 is burned in my brain, now need to work on no. 2 :)

I am stuck on the treadmill like many others and slowly need to ease off. It won't be easy, but that is reality!

btw your 1355 puts are ROCKING today :D
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yes ML..but i closed the fukin thing yesterday..that is the bad news i had for B22..as i baked a fortune cookie yesterday that said the ES will drop today..but it was too late..the fukin trade was closed before the cookie was cooked..but at least it was closed for a profit..have to check it..looking at so many fukin things today i don't know what i am looking at:)

anyway..interesting day..will post something important about ES options on expiry day..as u need to watch it if trading them

decided to risk some money on EUR option today also..long call..not to excited about this one..but will see what happens next few trading days

TO
 
Quote from xburbx:

i have tried for some time to follow RSC and it isnt recognizing the movement or when something is going to happen but trying to figure which side to bet on and when it is right or wrong. is that where experience comes into play?

btw, good to see everyone
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and nice to see u XX:D

i would imagine so..for there is really no substitute for experience

do not get too hung up on T&S..for u can of course trade without it..if it helps u then use it..if not don't bother and just concentrate on what works best for u

TO
 
so the ES options trading on expiry day

if u are long a weekly (EW) call options contract..and it finishes ITM..then u will be assigned very quickly..so make sure u close out the futures contract before close of business

u can of course keep ur long futures contract open over the weekend..and it may rocket up on open..but it may also tumble down..so do not turn a daytrade into a swingtrade..not worth the risk

make sure u read the contract spec for whatever u are trading..sure i know i don't have to tell u this..as u would do it anyway :D

http://www.cmegroup.com/trading/equ...dp500_contractSpecs_options.html#prodType=WK1

sure i was lucky it went up after being assigned :)

TO

seycjn.png
 
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