I day-trade the S&P E-mini Futures. I understand that the large brokerage firms and the professional traders usually have significant "buy" and "sell" numbers (trade bands) that they look for and aggressively trade off of during the day. The trade bands I've seen usually consist of two "buy" numbers and two "sell" numbers, used for either trade initiation or profit targets. I have been able to compute bands that come close to the numbers they use, but not close enough. Does anyone have any formulas they would be willing to share that may be used daily, to get me a little closer to the numbers the pros use? Thanks, in advance, for your help.
I'm assuming that we have several traders that have been trading for quite some time and would consider themselves professional traders. Any help would be greatly appreciated. Thanks for the reply.
I assume you are aware of Pivot Points and Support and Resistance... These secret bands...what could they be.... There is a Camarilla Equation...Murray Math....Fibonacci retracements/levels...Fibonacci Clusters...Elliot Waves...Value area/point...Chaiken...Bollinger...Keltner... The best bands I have seen are what Lefty/Steve46 has posted here....Do a search for Lefty...
I'm aware of all you've listed, and continue to use some of them daily (MM, Bolinger, S/R, Pivot Points, etc.). The numbers I'm looking for are computed daily by the pros and are used as their daily "buy" and/or "sell" targets. Sometimes their numbers are hit and sometimes not, depending on whether or not the public will knowingly or unknowingly help in the endeavor. I have seen numbers posted in chat rooms that are accurate, almost to the tick. The numbers I sometimes compute do not work well with the protective stops I use. I'm just looking for any formulas I might consider that will help me live within my average of two point stops. Thanks again.
search for Lefty...you might like it...I will do it now for you and post if I can find it... Can I get you anything else sir? Michael B. Late edit..maybe its lefty62151
tnc$ddc, read this entire link...you will find what you are looking for... http://www.elitetrader.com/vb/showthread.php?s=&threadid=50736
Thanks, so much, for your help. I performed a search and found the threads you posted. It looks as if they contain some valuable info that may help me tremendously. I'll take some time and thoroughly read through them. Thanks again.
HeHe...I am not the jerk you thought I was becoming....eh? careful though I can turn on a dime...kinda like those bands...
You should also look at this current thread http://www.elitetrader.com/vb/showthread.php?threadid=63202