Hello John: I notice that as we get older, we have choices to make and we have to come to terms with the fact that some of the opportunities that were available to us as younger people are gone. For some the reality that life is short is enough motivation to get off our asses and do something with our lives. For others the impact of this realization causes depression. Youre the one who decides which road to take. Good luck, Lefty
At least this thread has attracted ET's luminaries even if content has changed from trendlines to stream of consciousness. JM --- O.K. 2% Lefty---- I'd like to see more statistics Grob ---- Joseph Conrad
Duard: I don't want to seem impolite, but you are going to be waiting a long time. If some concept I express is of interest to you, then I assume you will get up off your butt and do your own homework. In contrast to "stream of conciouness" style of writing, I have expressed my opinion on a specific subject, and directed it to the attention of a single person. I hope my commentary will not be taken as mean spirited, but as an opportunity to move in a more productive direction. Good luck, Lefty
Hello: I have posted a couple of these before, so people can start to see a pattern here (I hope). Again we have a day that starts out in the red and then there is a change in short term trend. I look for tests of the previous day's high or low as an advance warning that this is occurring. Also you can refer to a chart of the OEX and/or SPX using 15 min bars to confirm. As I have said before, I do not usually put in a trend line. I just eyeball it. I have it there so people can see that trend exists clearly, and in combination with pivots and price levels, one can put on a position with good odds of success and using prudent risk management. Today was a pretty easy day. Good luck tomorrow traders Lefty Edit: One of my previous charts is posted in this thread on page 110 (I think). I hope the similarities between these charts cause some of you to think about the subject a bit more. Edit: Also check page 99 of this thread. Again look at the similarities between the charts.
Hey: I have attached a chart of the OEX. Using 15 min bars, you can see where the change of trend shows itself.
Lefty, Thanks for the charts. I, too was short the a.m., however I held longer thinking perhaps erronaeously that price may drop further and therefore my exit was not as tight as yours but still profitable. Did you attribute any significance to the 11 am sharp low turnaround time? That is to say do you use time of day to help you trade as well as pivots, ma, and range? D.
Yes, I have posted quite a lot about that. 11:00 is a "temporal window" where momentum changes and swing points often occur. I was hoping that this chart and the others I refer to will open some eyes. By the way, in response to your comment that your were short in the AM, but held longer: I cashed in when I did, because in addition to price, I watch the OEX, the SPX, trin, ticki and tick. If you watch the way OEX and SPX move just prior to a "temporal window", you may be able to detect advance warning that a change of shorterm trend is about to occur. If you look at my charts, you see several indicators. I have them there even though I mainly trade price and pivots. The reason they are there is that I get to see what other retail and institutional traders are seeing. This is particularly important in low volume markets, because it helps me to estimate the level of follow-through that I can expect from a setup. In addition, I know that retail traders are likely to get into positions late, and with stops that are too tight. When the stops get hit (and they always do), I can often make a profit on the reversal setup. Good luck tomorrow Lefty P.S. I realize that I don't say it often enough, but "thanks retail traders, for being there"