If anyone is watching the markets and can use snagit and post their screens please do so. It may be time to take a first look at a market.
Rh, I will do better than that, I will summary my 3 months worth of study into 3 words: volume leads price. simple, isn't it.
Thunderdog, he's right. You don't have to understand his ball park; however, you have to understand a ball park. Read my previous post.
Thunderdog, thanks. I knew it might be the HOD, but one of my three independent "hold trade" indicators popped "exit". So I covered on concern that there might be a retrace to form a double top, a one-tick BO, or a close H&S. NQ so rarely makes a simple top like that that I said "Fuck it! Take a little profit and analyze later." I have not yet learned how to deconflict my hold signals because they are all derived differently based on different market dynamics. As to how I knew to short then as opposed to earlier, I can't say. Voodoo. It involves drawing a circle on the floor with chalk and dribbling chicken blood in while chanting "Jack Hershey! Jack Hershey!". Edit: Or maybe I faked the execution report in Photoshop.
Interestingly enough, part of backtesting I do segregates the trades by time of day they occurred. The "old wives" tales about the best times of day to trade seem to coincide with some of the results. So, a very simple signal for "chop" is time of day. For example, over lunch time EST the market usually goes dead. Now you may observe markedly reduced volume then and say the same thing, while I have simply observed it as a time of day filter from backtesting results. Maybe its the same thing from different perspectives??
This is the conventional orthodoxy. these tiem are designed to increase the probability of doing a great entry and exit. numbers all over the place from calculation of customized stuff. These are inventive things designed to let the traders "have his way" with the markets. What does he get? He is right all of the time about what he is calculating. this stuff is so good that he isn't ever going to let anyone else see it. So what box in Harris's heirarchy is he operating out of. see if you can find a box labellled "Boss". He is running the show and in a conventional orientation using edge entry/exit trading. You can see as he said the SCT stuff is so readjusted and realigned that it is not recognizable. He, in effect, is not using any SCT stuff. If anyone is using SCT on NQ please post a chart. If not that is fine too.
Lurker, I recently took off my charts my beloved low volume indications and bad time of day restrictions. The way price moves midday now, you have to be a fool to arbitrarily stand aside. Was very painful to do that after using them for years.
i agree. we have three charts/tables that are money velocity based and the trading activities are keyed to these times and velocities. Six descrete velocities where ione defines trending days. We have a vocabulary for the daily patterns that are based on the activitiy levels. The CCC depicts the midday period.
Hey, Jack, you're on trial here, not me. I only posted to show that none of your boys would have made a trade like that.
One can actually have trend days on low relative volume. Even on high-volume days during lunch, the absolute level of participation results in the same choppy behavior, unless the range has been abnormally constrained in the morning. I apologize for splashing about, but I'm in a generous mood today.