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Old Mar 9th, 2012, 01:50 PM   #6211
bigsnack
 
 
Join Date: Mar 2010
Posts: 1,525
Quote:
Quote from dv4632:

Are there some contexts where you use divergence on tick as a reversal signal? I know that's the most common logic when it comes to those situations, similar to the popular delta divergence.
Absolutely and positively not. I tried this back in the day and got pummeled repeatedly. Maybe there is a strategy there, but I couldn't find it, certainly not with what I am willing to risk per trade. Once I found how reliable it was to use the +/- 600 levels to judge sentiment, I gave up on all other strategies and just worked on that.
 
Old Mar 9th, 2012, 02:10 PM   #6212
bigsnack
 
 
Join Date: Mar 2010
Posts: 1,525
-600 TICKs but price just stalling. If we get a close above 600, I anticipating I should be able to squeeze another 3 points out of this to the upside.
 
Old Mar 9th, 2012, 02:10 PM   #6213
dv4632
 
 
Join Date: Apr 2011
Posts: 321
Quote:
Quote from bigsnack:

Absolutely and positively not. I tried this back in the day and got pummeled repeatedly. Maybe there is a strategy there, but I couldn't find it, certainly not with what I am willing to risk per trade.
LOL - glad to know I'm not alone!

When I first got interested in day trading a couple of years ago I was trying to do that. There was a guy I subbed to who really pushed the idea, but I couldn't make it work. Whenever I tried to ask him where I was going wrong I could never get a straight answer out of him, so I dropped the idea and moved on.
 
Old Mar 9th, 2012, 02:15 PM   #6214
bigsnack
 
 
Join Date: Mar 2010
Posts: 1,525
Quote:
Quote from dv4632:

LOL - glad to know I'm not alone!

When I first got interested in day trading a couple of years ago I was trying to do that. There was a guy I subbed to who really pushed the idea, but I couldn't make it work. Whenever I tried to ask him where I was going wrong I could never get a straight answer out of him, so I dropped the idea and moved on.
Yeah I didn't mean to sound so abrupt, maybe I was reliving the emotional pain that strategy brought me ;)
 
Old Mar 9th, 2012, 02:20 PM   #6215
oraclewizard77
Moderator
 
Join Date: Jan 2006
Posts: 2,465
Market looks like chop to me now. Looking for a long at 1361.50 which probably will not come. I guess I should have traded more on Thursday when there were more setups. Looks like I will have 2 days of this week with no trades, and 2 days with trades that were both winners.

Will have time to read a new TA book.
 
Old Mar 9th, 2012, 02:28 PM   #6216
JoshDance
 
 
Join Date: Aug 2007
Posts: 3,653
ISDA reports a credit event has occurred
 
 
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