Edited by NAV, 06 November 2007 - 01:07 PM.
Had it not been for my indicators...
#1
Posted 06 November 2007 - 12:59 PM
#2
Posted 06 November 2007 - 01:05 PM
Edited by Teaparty, 06 November 2007 - 01:06 PM.
#3
Posted 06 November 2007 - 01:10 PM
Edited by SemiBizz, 06 November 2007 - 01:12 PM.
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#4
Posted 06 November 2007 - 01:13 PM
Edited by ogm, 06 November 2007 - 01:14 PM.
#5
Posted 06 November 2007 - 01:16 PM
#6
Posted 06 November 2007 - 01:20 PM
Edited by ogm, 06 November 2007 - 01:21 PM.
#7
Posted 06 November 2007 - 01:25 PM
NAV, what are your indicators ? Oscilators ?
Dynamic momentum methods.
Momentum and oscillators are not one and the same. Oscillator gives the impression that i am trading overbought/oversold crap. I would use the term momentum indicators. Again momentum indicators are like Stethescope. There are just gauges. The intrepretation of those readings is what differentiates the quacks from doctors. That's why i use the term momentum based system or momentum methods.
Just to make it clear, to me momentum is not a MACD crossover or a CCI crossover or EMA crossover. It just beats me how naive many folks are when they say they use the standard crossovers alone to time the market turns. Just use tradestation and run a backtest to see how profitable these standard indicators are. It will scare the living daylights out of you. Sorry for the rant.
btw, there are up days in downtrends
Genius.
Edited by NAV, 06 November 2007 - 01:30 PM.
#8
Posted 06 November 2007 - 01:28 PM
#9
Posted 06 November 2007 - 01:30 PM
#10
Posted 06 November 2007 - 01:37 PM
After huffing and puffing all morning we have finaly reached the first resistance on 60 min chart at the falling 33 EMA.
Many more layers of upside resistance to overcome. We'll see.
OGM,
I am not trying to teach you anything here. But have you noticed that ES started trending up on 15-min yesterday, which is why i held my longs overnight. Now the 30-min has started trending quietly. 60-min is creeping up into a trend zone. These are based on EMA observations. Talking about momentum, i would suggest you try something simple. Use any indicator like RSI or MACD or PPO or whatever you like. Map the amount of time spent by indicator in a positive zone and negative zone in a given timeframe. That gives you balance of power as far as momentum is concerned and which way the market is likely to move. Try that on 30-min and see what you get. Of course nothing is gauranteed 100% in this business. If a large program hits the floor, it can toast all your readings in a matter of minutes. But even those programs give you advance warnings if you watch the indicators carefully.
Edited by NAV, 06 November 2007 - 01:40 PM.