Interesting. Well I have never meet a trend that I could trust especially the ES and so I trade momentum, which I suppose you could argue is a very short trend identified after it ends. With momentum on the ES all days look the same, you simply buy and sell. In fact if I did not have a window showing tics to HOD and tics to LOD and tics to OPEN, I would not know whether the day was going up or down. regards f9
Hi, I have noted that NQ is the leader, ER2 acts slower than NQ. When NQ breaks trend, ER2 might not have moved yet, it might have some 2 sec to react. So it might be a low risk trade based on that, of course, still follow AHG rules. Any one has such experience ? Chiu
No. A lot of people claim one thing leads another, like another popular thread here assumes that YM leads ES. The truth is all the indexes tend to move together. Sometimes one leads another, but not reliably. I am also in the camp that volume does not lead price any more often than price leads volume. If there were any reliable leading indicators, trading would be no challenge whatsoever.
If that is your view (which I happen to share), then what is your rationale for using volume charts as compared to standard price charts? (Assuming, of course, that you do indeed use volume charts.)
Unfortunately I drew the blue shorter term trend line that took me out of the trade too early (..fear of dt..) Need to quit for today, hope you guys ride it to the moon
I trade off a 1000 costant volume chart NQ , I've been studying also range charts lately, for microscalping, with discrete success so far.
A time-based (or tick-based) chart gives equal weight to a bar with one contract traded or 1,000 contracts traded, which seems to be a flawed paradigm. I think you could make a similar argument for time-based charts because a move that happens in a few minutes has a different meaning than a move that takes place over a few hours. It's just a different way of viewing the same information, like the difference between linear and semi-log charts. Frankly, I don't think it makes a lot of difference, but subjectively I seem to be able to read the market better with constant volume bars. There are fewer wild swings on one bar. Plus, since volume information is incorporated into the basic chart, I don't need to also keep an eye on volume--it's one less thing to distract me from what is happening on the price chart. I've already gotten rid of ALL of my indicators (thanks to this thread), which was about as hard as kicking smoking. Now the only thing I have on my chart is price bars, fib levels and trend channels. That's plenty to confuse me right there without a bunch of indicators that just make me try to guess what the market is going to do next or second guess and hesitate when the chart is screaming buy or sell.
Nice trade, did you notice the rejection of the trendline is also a failed H&S, those are powerfull signals, you need to find 1 everyday and you are in business