can anyone tell me why the mechanical systems always fail as market changes.......i would really like to hear how the price action changes...thus....the market changes.....what can it do? start going behind my monitor so i can't see it? ....this is meant for my education only, not meant to harrass mr. new swimming pool guy.......my son-in-law builds homes and also has a pool company.....dovetails ........4re....if u stick with ur system and it works, then u have it........the problem down the road is if you expand the trading..and trade more stuff...opens the door for more little ouch trades then the emotional factor gets bigger...better to do the cookie cutter same thing forever and up the contracts...is there an echo in here? happy trading
4re, 1 question please. Before I continue, I have to say my chart's figures are slightly off from yours, but I still see something that I will appreciate your clarification on. Thks. From your levels, it seems that you do not subtract/add the same fixed amount from support/resistance. For example, from the long, it looks like your entry point for long is 0.5 point above resistance while your short entry point is 1 point below support. Can you pls explain the rationale for it or is it my charts suck or me just being blind. Thanks. PS :Hope you and your family enjoy the pool when it is finished PPS: Will be rooting for your son in his trading. When they are young, they have less fear, so I suspect he will get over the live trading soon. Best time to train them up I believe
Greetings, Can you point me in a direction to learn market profile,and how to understand that chart?I see nothing in the chart that points to anything I can interpret.Any pointer s would be appreciated. cordially Tom
4re do u c how monaco only came in to attack and left? those kind lurk and hope for freebie...when it doesn't happen they attack and leave frustrated. this is 3 yr observation....then there are guys like tq who don't lurk, don't help, and don't leave....
Bill, Thank you, actually the short is .75 under support which was done on accident. I do usually use .50. I will go ahead and keep it they it is for today though but if you or anybody else want to change it feel free to do so. This happens to be an 8 point channel so I feel it will just give us a little extra wiggle room.
Why are you challenging him to come back and attack you with messages like this one. If you'll ignore it and go about your business they will most likely stay out of your way.
Tom, I think there may still be a free MP introductory course here for any one that at least registers..... www.ioamt.com . There is also free MP info at the CBOT website............ http://www.cbot.com/cbot/pub/page/0,3181,1184,00.html This should get you going in the right direction.
Hey Tom, You may want to visit www.chart-ex.com Volume at price is another way to interpret S/R levels. The charts are free and updated each evening. Also, check out the this excellent Market Profile thread by bolter: http://elitetrader.com/vb/showthread.php?s=&threadid=63202 Hope this helps! MiniDowTrader