ESR, Thank you for the daily email with the numbers. Word of advice, double check them it's not the first time I see calculation/typo errors, in trading this information is critical so could not stress the double checking enough. I will be sending a contribution soon for your efforts. TV
In the book, "Way of the Turtle" Curtis Faith talks obout 'Recency Bias' which he defines as, "the tendancy to weigh recent data or experience more than earlier data or experience". In this thread, ESR has made the same reference - he obviously has a good understanding not only of the markets, but of human psychology as well...... or are they both one and the same
haha I personally watch bloomberg AFTER the session, in the past I have found the commentators have influenced my thinking and made me second guess my own analysis. Whilst trading a news service I do reccomend is www.ransquawk.com they are really good for breaking news events and dont fill the hours with "analysts". We are technical traders, all we care about is what the charts tell us in relation to our methodology, by the time news reaches Bloomberg TV its already history. Upto the second services like RANSquawk are great for catching market moving fundamental events without the padding. When theirs nothing to report the squawk is silent.
Thanks for that link. The music is so beautiful and puts one in a much better state of mind for trading than what I've been listening to. http://www.youtube.com/watch?v=41APzy5kqBU
LOL Snaggleteefs..!! Big butts = hilariously distracting..!! How about this... kinda appropriate given recent events... http://au.youtube.com/watch?v=55CW4LkG0QA
Hi ESR. I do like the sound of that... the 'analysts' on Bloomberg talk like their lives depend on it... two seconds of silence and they're gone! The ransquawk site looks pretty impressive. Assuming you use the 'equities' feed, are there any others you have found to be useful? I have made the mistake in the past of 'black-or-white' thinking: I was a technician, so fundamentals did not figure in my trading at all. But I reckon a good up-to-the-second news service can prove pretty useful as an insurance policy, even if you didn't intend to trade off the news. Cheers, Preach.
Their is a retail version that is 30 secs delayed its pretty good for our needs and its free. News doesnt really effect our trading a lot, most of the important news event timings can be found on any half decent economic calender. If their is a news event we close our positions and let the craziness pass. Unscheduled news is where these services come in useful.
Hi everyone I dont have any futures levels below 825.00, I would reccomend using the SPX for levels if we break lower. Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs and summary are for confluence and information. Always remember to use the numbers as a guideline for potential areas of high probability plays Always use a set up based upon your system to enter a trade. Good trading all