me too...but the signs were so clear for me. All this heavy reversals last 7-8 days was already distribution, the Big boys were taking short position, so this can become more than a one day selloff...we will see... Fine done knifecatcher! Keep on cutting the points out! Michael
Hi g0d0t, Sorry to reply late because I have to work in the afternoon. I trade based on square root volatility to get support and resistance levels. It is no holy grail (I wouldn't be here typing.) I use 1 point stop and try to go for 2-3x risk. I start trading from 9:50am to 11:20am est which gives 3 half-hour sessions. michael is better at this and really clean up when he could. I will try again next week. KC
Hi Michael, What you said makes perfect sense to me... increase entropy (randomness) near the top. Thanks for your perspective. I have to learn getting out of the scalper mentality. Thanks. KC
KC - Nice performance today. I too find it better to catch turns in the market (with a good risk management system) rather than trying to determine when trends are occuring and how long they'll keep going (especially in the ES). Would you mind explaining a bit more what you mean by finding support/resistance with "square root volatility", or point me some place to read up on it? I've never heard of it. I'm quite familiar with statistics and volatility, but not familiar with how you may be using this method to find intraday support and resistance. Thanks much, and keep up the great performance! Sandy
I think the concept was found in Gann Square of Nine and William Dunningan's stuff. I don't want to mislead you... there can be a lot of false signals if taken out of context.