I don't know why I bother to try to teach ET anything. It's a losing proposition. I totally sympathize with Jack. But here goes again. ET ImModeration deprived you of my five-dimensional Wave-Scalar-String theory of the markets by moving me posthaste to C-C. No telling what they will make of this. What I am about to say is informed (or misinformed) by trading NQ badly for the past six years. I am an old man, almost as old as Jack, and when I try to trade the whole session I suffer from lapses in attention, unwanted erections requiring attention to pornography, and the frequent need to take a piss through a prostate enlarged by arousal or a pre-cancerous condition, I know not which. Also I like to drink. So it has been imperative for me to descry when I may safely depart the market to attend to less intellectual needs. Finally, I discovered how the grey amorphous THEM who make the markets do it. They are all evidently totally lazy fucks who only want to play for four minutes out of every fifteen. THEY want to call their girlfriends, diddle their secretaries, take a snort (of whatever) occasionally, boast to their buddies at the urinal, and post nonsense on ET. So do like I do, and only attend to the market for the two minutes preceding and following each quarter hour. Consider this notion, and see if I am not right.
Interesting concept. So you are implying volume changes? or possibly volatility changes or predictable ups/downs in the market?
Please don't use that ugly word "volume". Volume is to price as the shadows on the cave wall are to reality in Plato's Allegory of the Cave. I am saying that price TENDS to move in the four to six minutes centered on the quarter hour. So if nothing happens then, you can go play with your girlfriend, or with yourself, if like most of ET you are a wanker. As a safety net, I use pinball and slot machine audibles to attract my attention if something DOES happen. If you're a micro-napper, you can even nap.
Apologies, Rcanfiel, for that idiot Hypo's reply. I made the mistake of leaving my computer unlocked while I took my own advice and absented the market briefly. But he did express my views correctly, the plagiarizing little shit! I think volume is a complete croak, at least the way Jack uses it. I run four volume studies, but they are all unconventional.
it is not a theory and definitely it is not market timing. You can be comfortable with this trading style and you can even make money... but in which connection is market timing???
Yes, in many instances, that is the timing key. Do you employ the use of a directional filter and are you planning to automate this?
MoveTimer, Joe is taking a nap. Or says he is. He's in his room with the door locked. Something about having to work off the stress of real-time coding. Anyway, if Jack Hershey can misappropriate and bizarrely redefine a conventional trading term, so can I. "The timing of the market" "The market's timing" "Market timing" A perfectly grammatically correct English phrase compression. Cain't do that in French. You a frog?
Infolode, thank you for your comprehension, so uncharacteristic of ET. You obviously recognize the pattern from your own attention. I use this idea solely as a way to decide when to rest my eyes or to break for a quick bite, or a quick something else. As for using it as a signal, I think not. A price move around that time has to be confirmed by indicators or oscillators.
My .02. I tracked the dow 6 minutes before three to 2 minutes after three. Sometimes it would repeat several times in the hour and then move the same way into the close. Maybe nothing special but that was my indicator on how the market would close. Markets change. But I wouldn't be at all surprised if Joe was correct.