It was a +37,5 point day for me I'm still sim trading but I expect to go live soon. SCT is going pretty well already, but I think I'm still a little too unrestful in my reversals and need to practise on holding through a nice trend. I also have to work my tick charts and DOM analysis to determine good intra-bar entries. If I can improve those two things my performance will likely double. Here's my ES chart of November 8 2007:
Coloring your gaussians gives you a better picture of sentiment changes. Having volume bars colored by your software, based on current bar closing compared to previous bar closing, allows you to quickly eyeball pretty accurately over fractals. Your gaussian peak doesn't have to end on the highest volume bar it covers. Quite often it makes more sense to be placed on one of the subsequent bars. Anyway, this is the way gaussians help me, but it's probable that others may see and use them differently. You'll know you draw them correctly (for you) when you'll find them always making sense, and helping you reading the market sentiment: "long or short?".
RT, I started from the very edge of the chart and so we are looking at different things. Your bars 6 and 7 are my bars 8 and 9. What do you think now? Incidentally, looking at them separately if you will, I agree with what you have said about my bars 8 and 9. lj
Go study in Europe for a year The market hours for NYSE are 15:30-22:00 here. Market opens just after school and closes just before it's time to hit the bars
These kind of days can make us a little overconfident ... I'm kind of looking forward to choppier days to gauge my skills ... Until then I don't mind taking what's offered.
Here are my trades (sim) for the morning. I was mostly away from the computer after lunch so did not trade. I find I do better trying to stay in all the time. Waiting for point 3's for example gets me in the retrace too early and ends up being bad (similar to trades 8 & 9). Trades 8 & 9 cost me big. My initial intention was to hold trade 6 through the retrace but the BO of the FBP made me reverse. Should have have gotten back most of the 11 points I had gained instead of losing almost 9pts. Took a total of 15.5 pts (look at the MFE 43.75pts ).