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Well it looks like one of the better (probably best) threads on ET has done what usually happens = gone to complete shit. I was about to say "I dont know why this happens.." But in all actuality I do know why it happens and its the same reason that 90% of traders lose in the market - cause your a normal human being and you wont take the time to change yourself, thus you will always lose at the market. AMT - thanks for taking the time to post this information, your a very generous and kind soul in an industry that seems to be filled with quite the opposite. I am thankful for the "norm" because in the end its what gives that 10% a chance to completely fleece the sheep. People dont change (rarely) this is why markets exist and they dont really change much either. Sure, volatility changes but the underlying patterns and what causes them happen over and over. You guys ruined one of the better threads (called live or ahead of time with quite stunning accuracy) and its sort of odd (but not really, cause your normal). Its odd because you say you want to learn how to trade and then you just cant hold back from being yourselves, thus biting the hand that feeds you. Silly indeed.... There was quite a bit to be gained from what AMT was posting. I am not saying mirror EXACTLY what he was doing but if you had some common sense you could really take some nuggets out of the general principles. There is one thing to be gained from ET and that is the study of human behavior. If you take the time to do this, overtime you will start to see things that relate directly to the market. Once again a sincere thanks AMT (and the rest of the posters that added value to this thread.) PB
Yeah props AMT . . . thanks much, I have to say that while I am no expert, I did learn a thing or two reading this thread . . . Thank you for sharing . . .
Like elsewhere in life, you can either focus on the good or the bad and learn from both. AMT clearly took one side and thanks are in place. Personally, I would like to learn more from failed delta trades, but we've all seen mostly the winning trades. If/when AMT comes back, that would be my personal preference, especially in the market environment prevailing in the last several days. Several elements of the trading AMT demonstrated are codeable into an ATS. It's quite enlighting to see when divergence works and when it doesn't, not based on anecdotal evidence, but on numbers in a decently populated backtest data set. I can see why some people here would be frustrated, our emotions were not designed to handle stochastic (often confused with chaotic) behavior of win/loss situations. The stats are what they are and an edge in my opinion is doable to achieve (no, it's not 10 pts per day... but maybe one day... lol). Peace to y'all.
Well you have it in a nutshell. As gifted a chartist as AMT is, and as kind as he is to donate so much time, the CD theory which he says that he uses sometimes and not others is deeply flawed. Most of you will not know what I am talking about and you will stay this way until you learn how volume makes/ does not make price move. This is the true guts of trading and you can chose to see it as a separate issue or you can grow to see it within the price movements. sosueme
Please elaborate. Why do you think it's flawed? Back it up. Can't just say you guys won't understand it. Need to have reason behind rejecting the theory. Cheers.
Where CD really shines is the open. I use it in conjunction with footprint charts and I would definitely say it's an asset. Today http://www.charthub.com/images/2009/07/16/Untitled_21.png 7/14 http://www.charthub.com/images/2009/07/16/Untitled_21_2.png 7/13 http://www.charthub.com/images/2009/07/16/Untitled_21_3.png 7/9 http://www.charthub.com/images/2009/07/16/Untitled_21_4.png
Nice charts . . . once question though . . . Your price charts are not continuous (or seem not be be) but your CD is, or am I missing something? Or is it simply a display preference with actual 24hr data?
It's 8:30am-3:15pm Central Session. That's why you see the gaps. So your next question is what about the volume in AH? It doesn't affect CD that much really if you compare the 24hr and cash session.