Ah, yes, I follow now. But sadly, the exact same setup does occur earlier, with not a profitable outcome if the trade was taken. At 2, we see that price makes a lower low with reference to 1, and the tick does not make a lower low. So it seems like this divergence might signal a long trade. But alas, price keeps going down. Anyway, its just an example to show how sometimes it works, and sometimes it doesn't. I can see why its not good enough to keep going down this road.
Well, at 1 you at least had a good scalp entry and at 2 you could easily scratch it. So, not too shabby, IMO. Then again, I already said I'm not trading this in isolation and will at best use it as a supporting parameter which adds confidence to other stuff I'm already using. But since that 'other stuff' is my primary signals, I may ditch the NYSE TICK altogether. Nothing works 'all the time'. Conclusion: NYSE TICK may offer some valuable clues and act as a supporting parameter, but in isolation, probably not.
Same issue here. An ever growing to-do list. Once you start researching - it just never seems to end. That's why a lot of stuff just needs to be archived in the long-term to-do list and only the most critical things are prioritized. I'm very glad the bulk of my system is complete. Not sure I'd have the energy to start all over again. Testing, researching, live trading, failure, back to the drawing board, more research, testing, trading, failure, some success, etc. Really, really time consuming.
I trade the London session and stop before the NY open / premarket. It's a lower volatility session (usually) for rate and index futures. Before COVID, the Asian session had like zero vol, but with VIX so high (relatively) every session is tradable. ES has a micro for scaling, averaging, or to trade against. I've never traded EUREX through my broker (IBKR) and don't subscribe to the data feeds. I'm so used to US markets, that for me there's really no point in moving over to EUREX. ES is liquid and you can check FDAX, MDAX, Eurostoxx, FTSE, or NKD for comparison. Trading the London session before the overlap, cuz I had to get a job again after a big drawdown. Market hours are the same for all instruments (FX, Stocks, Bonds).
i assumed you knew..that was for my future students ..yes..it is moot..in fact it doesn't really matter to the small retail trader who is doing what..or why they are doing it..the only thing that matters is the bottom line..can i make some money spending my precious time trading this market..and..the answer is definitely yes..once a few simple rules are followed..and some basic knowledge of chart reading and order entries are understood..and more importantly..practiced beforehand jees..the previous posts remind me of the many many hours i spent gathering "data" and drawing fancy graphs and exquisite excel sheets..all a total waste of time..the old saying will always hold true..KISS..but unfortunately it takes a longgggggg time to really understand and practice it.. it was nearly 19 years ago i took up Ken's stuff..just remembered as it was a year that several big things happened to me..which of course mean nothing..just showing that it took me the best part of 15+ years to cop on..but hey..that is why old people are always wiser than the young hot shots oh..does anyone know what happened to Redneck..aka RN..as i really do hope he is alright and still above ground! M3
Got it. I imagine the European indices and ES track each other fairly well in the European session. I use a lot of statistics and non-chart based data for my trading which is built on the RTH template, so I couldn't easily just start trading the European session as that would mean 'charts only'. That sucks. What happened?