Where would a SCT trader anticipate a better a short - the confluence of a 5 mins, 15 mins and 1 hour channel lines? Or just the left side on a 5 mins channel?
A little more info on the peak trading software. I had a conversation today with Josh Russo from Peak Trading Group, he has known Jack for 3 years. If anyone has questions Josh seems more than willing to answer them. The previous range of $100-250 was an estimate and the fee varies on the level of service and guidance one requires. Traders following the JHM methods on ET can expect to pay around $140/mo which includes the software and data feed via iqfeed. Commissions are around $4.42 round turn all in with possible lower rates for quantity. The software has drawing and annotation tools but is yet to be automated. I'm under the impression Spyder is working with them in this area. I do not know if one can plot any other charts besides what is part of the JHM methods. It seems like a fair price for what they offer especially considering the potential the software has as they continue the development. It sounds like they are just getting this thing off the ground. I currently use Ensign and IQfeed with the same options they are offering(I think) and pay a little more for the combination than they are asking.
Jack has mentioned the historical volatility index in another thread, which may be of some help with the lack of volume (at least that's what I'm thinking). Hope to eventually look into that. The FX hours are a bit better for me. Regards, EZ
Would the absence of a "confluence" make you less likely to anticipate the short and prepare accordingly? lj
Hey EZZY, Thought I do not trade FOREX, it is my understanding that eSignal has some sort of tick volume histogram data which the VSA people find to be of utility in their type of currency trading. I have not used this data and have no idea how good it is but whatever, it might be useful. lj
In this picture I vertically aligned a 5 min, an 1 min, and a 0.2 min charts. Look how the B2R and B2B transitions align.
Thanks for the tip. If you find a link for that, let me know. FX is doable. Just a little different. Less precision, more range. You get used to it.
From Jack's post: <p>An <font color="red">FTT</font> on <font color="red">level</font> 3 is and <font color="red">FTT</font>on <font color="red">level</font> 2 and the <font color="red">FTT</font> on <font color="red">level</font>2 is an <font color="red">FTT</font> on <font color="red">level</font> 1. whatfollows an <font color="red">FTT</font> on <font color="red">level</font> 1 is a<font color="red">BO</font> of the <font color="red">level</font> 1 <font color="red">RTL</font>.</p>
I'm not sure what the point is then but I see cnms2 has provided a more salient explanation than mine, if indeed mine could be called an explanation. If one has prepared for a short, the 5 min ES seems a good place to trade it. lj