kicking, It is Qcharts and for the last few days I have been following NQ it has been reliable. It matches last price from the IB TWS to the milisecond. The only thing that I don't like is that volume bars are not colored.
Go to this website and sign up I think you will find it useful. http://groups.yahoo.com/group/qcharts and the site to download the latest version and or beta ftp://ftp.quote.com/qcharts I think the one you want is 4.0.1.12b or get the one with the latest date although it may be a beta. Let me know if you find this helpful
Hi is anyone trading ES by www.eminitrading.com logging in live interactive trading room called "the epit" ? Any impression or comment about results would be greatly appreciated. How much real results are far from theoretic exposed in the site? Thank you
I shorted NQ for the first time today by accident. I didn't notice I had sold out of my positon and somehow entered a sell again. Also I started trading 3 contracts at a time all day. I was down early in the day quick but I eventually got the hang of things and dug myself out of a hole - only +40 for the day after commisions but I'll gladly take it. Trading 3 contracts required much tighter stops so I didn't get slammed. Once again today if I had just watched the big uptrend and just bought in at the low at 10:30 around 1223 and held on until 11:37 or so when it was 1253 I would have done much better than getting occasionally burned trying to catch each down and up stairstep. I traded until the close today which I normally don't do as I have to get my daughter from her bus and I noticed for the first time stops that were 2-3 ticks lower than my stop price. Normally I get the stop price or 1 tick below it. IB and nextrend's data has always been in synch. It would be nice if IB hotkeys would allow you to create a stop. I got burnt because of this a couple of times when I used a hot key limit sell instead of a stop. I also got caught a couple of times where the stock reversed quickly while I was trying to put in a stop. Also it seems that the NQ's change before the Comp changes so you can't watch it for trend signals like you can when trading nasdaq stocks. GaretJax
GaretJax: âNQ's change before the Comp changes so you can't watch it for trend signals like you can when trading nasdaq stocks.â NQ is the Nasdaq 100 contract. Unless you have access to âfastâ cash quotes, I would avoid using the NDX or the Composite for short-term signals. The indexes update much to slowly.
michealday: âNotice at 11am in two minutes 16 points up exactly at the moment when chart is telling you to go short.â There was a valid short-term sell signal, according to my system, as of the 9:50 CST bar (1234.00). Interestingly, this was generated on the NQ but just missed being triggered on the ES. Accordingly, I would not normally have had a problem with your intention to short but I can give you two reasons why I held off from adding to shorts or trading at all during that time period. 1) News: A false report had begun circulating (9:16) about additional cases of anthrax. A quick sell off and fast market rules apply. Between 9:26 and 9:46 we entered a period of tight consolidation, more apparent in the ES, as uncertainty reined. From there we drifted up on relatively light volume until the previously mentioned 9:50 sell signal. Had I sold the market at this point I would have been concerned about the consolidation providing a barrier to the downside as juggernaut pointed out. I do not feel, though, that 1226 specifically was a âmajorâ support point, as the degree and extent of S/R can depend on your time frame, as well. When the news was determined to be bogus we immediately bounced back to the area of trade prior to the story's release. Many times in the past, when this type of situation has occurred, the previous area is filled much in the same fashion as a gap trade. Quick and brutal if you get it wrong. IMHO, when unconfirmed reports are circulating and the market is in a delicate reactionary mode, it is best to step aside and, in certain instances, close out existing positions. 2) We were in a zone of support that encompassed a fairly wide range in the NQ and a similiar range, although a bit smaller, in the ES. The S/R is based on the TF that I predominately trade off of. As uptik2000 mentioned, I too would have been more inclined to add to a short position if we had broken through the consolidation to new lows. I believe, though, that we would have been in for a grinding trade down through the 10 NQ and 4 ES points below each of their respective lows.