Keeping It Simple

Discussion in 'Index Futures' started by dbphoenix, Nov 27, 2002.

  1. dbphoenix

    dbphoenix

    If you're trading at all today, there's a double top and potential 2B on the NQ.

    --Db
     
    #401     Feb 18, 2003
  2. Hambone

    Hambone

    Stupid question... what is a 2B, (and some of the other short terms you've been using)? Thanks,
     
    #402     Feb 18, 2003
  3. db makes some very nice contribution to this thread.

    If you use EliteTrader.com search menu in the upper right corner...searching the word...2B

    you'll find the following at

    http://www.elitetrader.com/vb/searc...d=122559&sortby=lastpost&sortorder=descending

    Quickly reviewing the results...you'll find the following...more specific on 2B...

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=12573&highlight=2B

    NihabaAshi
     
    #403     Feb 18, 2003
  4. dbphoenix

    dbphoenix

    These links should answer your question. If not, ask again. What other "short terms" are you referring to?

    BTW, the potential 2B was nullified by the new high, which doesn't mean we can't try one again later (it's nullified by the new high because if it doesn't drop below the old one, it's just an ordinary retracement).

    --Db
     
    #404     Feb 18, 2003
  5. mktman

    mktman

    Can the SnoSur4 method be applied to individual stocks(with some tweaks) or is it limited to NQ's?

    Thx.

    mktman
     
    #405     Feb 24, 2003
  6. dbphoenix

    dbphoenix

    Can't help you there. Perhaps someone who has been following this thread has tried it with stocks. Or you could PM Mike.

    --Db
     
    #406     Feb 24, 2003
  7. A 30 minute opening range break method works for any vehicle. Other popular range break intervals in minutes are 5, 10, 13, 15, 60 and 90.

    Understand that the goal of this strategy is to get in as near to the opening price as you can AND be on the right side of the market for the day AND do it efficiently and effectively.

    Time interval range break is a way of attempting to do it. Projected price range break is popular too, which is commonly accomplished by adding to and subtracting from the opening price some percentage of the last several days average daily range. Physical price range break like yesterday's daily high and low is a popular strategy also. Still the goal remains to catch the better (bettor :)) portion of the day's move.

    Btw, the same entry can be used for smaller and nearer term profit objectives than EOD.
     
    #407     Feb 24, 2003
  8. mktman

    mktman

    Been toying with this method for individual stocks today.
    Seems to work well as long as your disciplined as do a tiny bit of tweaking of the system.

    Few observations:

    1. For stocks the id trading range defined in the 15 min or 30 min time frame can be large. I mean the spread between high and low can be big. It's alsmost like a gap situation then with the 3% rule. Do you enter, say long, if there is no gap but the id high set in this range is at +3%? That would be a user defined parameter.

    2. Entries are another area of tweaking. For a long, do you wait for .50 past id high set in range, 1.00, 2.00? Another user defined parameter.

    3. Can be on the wrong side of the market trend and still do well. Example. Today overall trend is down. But group movement may not be. Oil group is up going against the trend. In quite a few oils today.


    Just my thoughts.
    Still playin with it.

    Does take some work when your watching a basket of stocks, but it really is a simplified method with tl representing only indicators. For me less is more. The simpler it is the more I like it.

    mktman
     
    #408     Feb 24, 2003
  9. arzoo

    arzoo

    Hi Db,

    Hope you don't mind my asking, I was just wondering that in using the system today (Tues, 2/24), what would've been the trade to make.

    The only one I went with was the break of 1005 after lunch, I kinda felt that the ES was leading the way down but the NQ didnt want to follow in the a.m., so I just kept away till after lunch.

    This leads me to another question - I've found the NQ to be better suited for me because when it brks out it follows thru better (at least for me) compared to ES which seems to have more false moves (again, at least for me), so I usually stick to NQs while observing the ES. But on days like today, when the ES has more strength or momentum do you switch and take the ES or keep pat w/ the NQs?

    Thanks again.
     
    #409     Feb 24, 2003
  10. dbphoenix

    dbphoenix

    Close. Rather than use the opening low which by lunchtime was pretty stale, I used the 1130 low. Granted this was only a half point difference, but it made the difference between being stopped out at 1330 and staying in the trade (assuming one went to BE when the TL was broken).

    As for the ES vs the NQ, I really haven't studied it so I can't give you more than a "feeling", which is essentially worthless. If volume continues to dry up and the activity in the NQ becomes more erratic, there may be no choice but to switch to the ES.

    --Db
     
    #410     Feb 24, 2003