Right now i have a short IT trend starting yesterday morning. Pt 1 and 2 are 11:30 and 1:30 yesterday. Pt 3 is 3:30 yesterday. We made a full traverse this morning and look too be pushing our way to the right side. Afternoon BO should be interesting. For the Afternoon BO i am looking for a second macd oscialltion on the 1 minute away from 0 with great sustained volume and BO of 1 min channel. Sometimes BO occur on 1 big volume push with no second 1 minute oscialltion on the macd.
I watched the Ari Kiev video and see that having goals can be extremely helpful. The only gripe i have is that beginners didnt have any rocket signals this morning. You are slaloming as an intermediate/expert in my point of view to reach your daily goal. I am not taking away from your great trading. Just at the beginner level, he should be sidelined and preserving capital on a day like today. Id prefer if we slalomed anyway. Begnner is too boring in this market. Entry/wash entry/wash. lol. Thanks again for the real time updates.
the centering did approx 46.2 as we thought. the volume before 13:00 gave us a VDU. this shut down signal (neither supply nor demand stuff at all just plain disagreement all around set the scene. Scaling in came with volume dictating a long. we traded the lateral stall after an exit at 51.3 on the run up. It was expected that if the FBO from the IT trend didn't happen that we would set up a trading range in the IT. we had a wash on a short and a a little profit on a long in the lateral trend. It is tall enough to trade. These high volatility stalls are best traded using the squeese/stretch of the INDU and YM04H leading indicator. Making 600 bucks has been a good goal as you have seen. Thanks for your posts on your efforts today; I appreciate the efforts you are making. The handicap in this stuff is the low pro rata volume. As you see it is all bursts. The best thing that you see using the squeese/stretch is the absolutely consistent play of the smart money. Get tuned to smart money. You will find that you can ID with it in less time than you think. AMT was really swift at that. the 600 bucks is a healthy % of margin per contract. The goal lets you grind away with two views that counter the Nobel results. (See minute 8 of Ari Kiev). It is extremely important to not be classified as the Nobel speaks. Trade to "make money" and "to not lose money". Do not have "fear of losing profits" instead use a goal of profits. That focusses beliefs properly. I will do a whole series when I restart again with permission. It will be a PNI orientation to demonstrate the basis of NLP picture building. This will show how, finally, that a person gets to and stays in tip top shape for meeting stellar goals. A 1 to 2 contract daily goal like 600 bucks today was possible whether or not we headed down or whether we had FBO or whether as it turned out--to be a narrow range day. For the thread theme of gaps. we are in a FTP for IT and we have tsted the right line of the IT trend and have hada FBO. So planning on a gap up over night is more logical than sidelining as I did last night and then just taking the 8:20 to open run up.
The duality of the Nobel viewpoint linked fear with profits and hope with losses. The goal orientation removed the fer element by allowing the prson to be able to take profit after profit during the day to reach a goal. In a similar psychological way, the person replaces hope of not losing with exiting when losses are begining. The goal emphasis begins to prevail as the primary thing. As it does, then losses are regarded as not something to hope won't happen. Youare sitting there with a button to press to stop any loss. You do that instead of holding and hoping it will spike and then reverse back to profits. Today there were many spikes like everyday. Just as you take profits before the spike, you can look at entries without hope as they do not follow your entry plan. When they do you wash before the loss. any entry that is not rushed is one where you have a trend steaming away and you jump into it right after the take off of volume or maybe later with the take off of price. The next unwanted event is the trend BO failing. you ride into the failure with profits slowing and then not increasing at all. a failure to resume is certainlt enough to exit and preserve profits. No "hoping" is ever in the picture, though. The Nobel results tell us clearly that people need to shape up. Having the emotion "fear" associated with profits--losing profits and having the emotion "hope" associated with losses-- hoping the losses will go away. Is a drestic situation for the financial industry. You can see how asset allocations financial planning is a pure brain fart by the industry.
To be sure I understand... I translate the above statement into the following action (process): Watch the DOM to see which side (bid or ask) consistently has more players and/or more shares. I do this to expand or corroborate my belief snapshot of the current moment in time. Is this on the right track? Is it enough to just watch the cumulative B/A or do you get any extra information from seeing the DOM spelled out ala IB's market depth popup window? J
Jack The part I was interested in was the last part of the statement: "volume indicating a long". How can volume in an area of congestion clue you as to which way it is going to break?
My take is that in periods of congestion volume is typically running low. Congestion will end with rising volume shortly followed by rising or falling prices and on to high volume non-congested areas. However, you may see rising volume and moving prices and then a "failed resumption" as Jack calls it. This is a false breakout -- and a return to congestion/centering. In other words - you CAN'T KNOW what will happen so you manage the risk. The skill is knowing when the market is telling you that you are wrong and acting on it. This is where volume is so key because it leads price. The hurt when you are wrong comes from price - not volume. J
I just had a few questions regarding the paragraphs above. You mention definate squeeze or stretch has been in place "longer" than any other indicator. Could you explain the time variable "longer". Does the squeeze stretch come before the BO of centering and for how long is it telegraphing during centering? I find very often the YM ma will oscialte above or below INDU bars meaning that the YM(smart money) is fickle. This happens often during what you call mud. How does one determine not to take these squeeze/stretch during mud or ccc and when is it successfully telegraphing the smart money? I am leaving for Whistler tonight and i really hope to see you back in Paltalk as soon as possible. JC