Friday , SP 500 price action

Discussion in 'Trading' started by Walther, Dec 4, 2003.

  1. It is my opinion ,suported by my new method, that tomorrow direction will be down after opening. If you take today chart and flip over the first 30 min on 2min charts that i how tomorrow should look like.
    I see again 9:45ish time as a time to take a trade and establish s/r line. I was right 3 days in a row so it looks like my new method is working.
  2. whatever happen to the stress free trading hrs? thats what i'd like to know...
  3. Nordic


    Let's see, three jobs data reports due out at 8:30. It is my opinion that there should be a significant directional move at the opening bell. Now if I only had those reports today.:D
  4. Your shaking the foundations of statistical and quantitative research Walther with your new system. Congratulations! I would apply for a patent with the subscription fees your garnishing.

    Otherwise you can branch out from your 900 call in service and take it on the road to universities. I think that you and your system would make for a very good case study and case work.

    Just more business/marketing suggestions for you.
  5. doug456


    what is exactly you new method? i just started reading some of your threads and obviously you have a lot of people against you, i don't think you calls are that bad, no worse than most people on here. how does your method show that tomorrow's open will be down.
  6. I am not sure what you mean but I find it less stressful when I do not have to watch charts all the time and know ahead of time when reversal will happen.
  7. It is a math formula which is proprietary, but you can basically determine if price is overextended in any direction by other methods like MA, Bollinger and such.
    If you look at today action, it was down ( lower then yesterday ) closing, but you couldnot sell it at 9:45.
  8. Mecro


    Funny, you are the only one that thinks you were right, yet everyone else thought you were wrong.

    You're in complete denial.
  9. Price went down from opening and 9:45 was the best time in the morning to take a trade.
    Yes or no ?
  10. Mecro


    Best time to take a trade? No way. Was their a trade to be made? Of course, but there is always a possible hypothetical trade to be made. Doesn't mean anything.

    Now, notice you never specified a direction. Hence at any given time you can be 66.6% right since the price can only go 3 ways, one of the directions being worthless.

    See, I'm looking at the chart from friday and what you called out was pretty much crap. Let's say I went long at 9:45. At best, and I'm being very optimistic, you could have made 4 points. But you would have to sit through all those ridiculous chops. That's a shitty move. A good trader would have to ignore most of his discipline and experience to sit through that crap. Realisticallly, a good trader would probably be out within the second chop and make 1-2 points. Aight, not horrible or anything.

    But Friday had several moves and possible trades, some of which were just beautiful, especially the 1 PM drop. Of all the moves, you called out the worst one. So even if you were semi right by calling out 9:45, it's nothing special comparing to the whole day. You also never specified long or short and when to get out. BTW, you could have made money either long or short from 9:45 depending on your hold time. Does not take any skill to call plays like that. Reminds me of mrmarket's forever hold strategy.

    But you did call out a intra-morning low, even though you were vague about it. So maybe there is something to your mathematical approach. If you lost the a$$hole attitude and actually listened to your critics, maybe you can get much better.
    #10     Dec 6, 2003