Discussion in 'Psychology' started by cgtrader, Oct 29, 2006.
DOM = Depth of Market!!!
NHL 95 with wrap arounds!
And hopefully you have enough records like, as a concrete illustration, didnt trade around AUGUST;
Real Estate trends were better then.
Trade the HSI to meet these objectives.
Two sessions: First is 2.75 hours, then after a 2 hour lunch the second is 1.75 hours. No wasted time.
Kiwi I can see exactly what you mean by the HSI chart, does the market close for lunch or what?
Yes. Very civilized
Lunch? Lunch is for wimps.
and for people that are hungry and need brain food.
Claiming that the first and last hours are the best times to trade is the biggest fallacy ever. I make the bulk of my money in the middle of the day when the professionals are playing with their secretaries and I'm trading against retail traders.
<b>BS, Nazz</b>, I've noticed a lot of key reversals or directional swings coming midday this year, seems like more than ever before. I rely on 13min charts for directional filter and/or trade signals, with many of the day's biggest moves signaled between noon and 1:00pm est.
When markets are slow, I ignore the smaller charts and fixate on 13min chart. When markets are normal to fast, I trade smaller charts in agreement with 13min chart.
That means looking at price action only four times per hour when it's dull. Time in between is best spent further than arm's length from the keyboards.
When tapes are fast, much quicker reads on smaller charts are used.
13min ES chart didn't help much today, but 6.5pt range between pivot values is what it is.
13min chart did offer profit potential in ER and other symbols... and usually helps avoid taking too many trades with nil potential for success.
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