Nice display. Here's an example of a wall forming on the DAX yesterday: <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1487995>
It's been an interesting read so far. I planned to speed read through this journal but am finding it hard to do. There's so much good information that I don't want to skip. I'm starting to understand now what they meant in the chatroom when they said that the journal "snagged" them. As I said in the chat, I'm mainly interested in trading the NASDAQ stocks. I prefer to daytrade stocks below $10. 1000 shares for stocks below $5 with a risk/reward of 10 cent:25 cent. 500 shares for stocks between $5 and $10 with a risk/reward of 20 cent:50 cent. I'm looking forward to shorten my "journey" through this journal. Rather than going from the very beginning, it would be nice if I could get links (that I was not able to copy from the chat earlier) that relates to stocks. I've visited (and became a member) other message boards that have good information too but it seems that Elite Trader seems to satistfy the my trading style. I especially enjoy the chat (which I've been searching from different websites) where I could enhance my real time study. Thanks a lot for the help that I've been getting from ELITE TRADERS,moderators, and founder(s) that I'm just starting to get to know. This site has an overwhelming amount of good information that I wish I could consume in 1 day (and be able to digest everything). Reality is, I have to nibble every now and then through this. It looks like this thread is probably a good starting point in my search for the best probability of a winning trade. It would be nice if I could also "make money at will with no drawdown" in the NASDAQ stock market. Hopefully, when I get hit by the "lightning bolt" - I won't get fried. Ares
It would be nice to see an analysis of DNDN (since this is the stock that I used for the study in the chat room) using the methodology in this thread. So far, I agree that Price is King. Volume is not supposed to lie (but is for the less skilled?).
What do you mean TUMS? Which wheel are you referring to? If you are referring to my trading style - I just want to expand on what I've already learned. If a see a better strategy, then I would be humble enough to consider the "new light".
Thanks for the link TUMS. I will study how the Hershey Equities Chartscript Version 4.2 works. What I was looking more for was Trendlines drawn on DNDN with FTT,FBO,BO,Volatility expansion,etc.
The Equities Discussion with respect to these methods takes place over here. As far as learning to draw trend lines yourself, read this document. - Spydertrader
This is an awesome thread. Thanks Spydertrader. Do you have a link on a program that calculates intraday pivot points? Thanks again, Ares
I posted on Pivot Point Calculations using three different methods in Journal II. Use the ET Search Function using Spydertrader in the 'by username' box and 'Pivot Points' in the keyword box. - Spydertrader