I would guess that the 8 and 13 tick value is not for the daily but the 45 minute opening range. Not sure how they derive that. Regarding your second question I assume you mean using 45 minutes as an opening range. If you think about it that is a pretty long time, there was some discussion of this earlier in the thread. I like to scalp so ten minutes on spy is a LONG opening range for me. So I would answer no to your second question, what makes sense to you logically? and what timeframe are you trading? if you are scalping spy for .20 or .30 cents then you want a tight opening range maybe 2-5 minutes. Also there is a difference between an opening range trade and the ACD method. The ACD A and C values are derived from X opening range period, you may want to look over the book again. At the end of the day you have to derive an A and C value that you are comfortable with and passes the test of logic for your trading sytle..........
one word for you in this market King.... #Scalpmode dislocations galore, persistence is lacking though!
Nice use of hash-tag there Shan. Seriously though, follow-through seems to be a four letter word for the last few weeks. Even when we do confirm A ups we're not running after confirmation, but rather before. Weekly levels have been nice places to lean against for daily and intra-day scalps. Just my observation. This is really only applicable to stocks, obviously Mav's kept us up to date on the moves in commodities, specifically those grains.
I have just moved away from spreads, and trading direction. Very small at this stage, but like my post last week, its more of an instructional development, rather than the explicit goal to make money. What do I trade? As per the advice within this thread, I'm looking for high liquidity stocks that can move enough such that my profit exit is less than a good leg within the trend, exiting before EOD Here are my trades from Friday
oppurtunities intraday forsure. Market does not have constructive action for swings tho. Speaking strictly in the stock space of course
So seems as if you are still finding your footing? Some people like to trade high beta names. Others like to trade choppy etf's..like me . Finding whats comfortable to you is of utmost importance! Do you have a framework for your trading? entering into pullbacks, entering through levels?
here is a range chart for cl set to .10 increments, you can use this for scalping based around acd or a price target, lets say you use a .10 or .30 cent stop, just a different way of looking at the data on the screen.