I use 5 sec chart, 1 min chart, and a 49v for reference. p.s. reading Alexander Elder's book Trading for a Living will give you an idea why I use three screens. http://www.amazon.com/Trading-Livin...4945556?ie=UTF8&s=books&qid=1200859488&sr=8-1
I don't know how to teach, but I can show you what to look for... I use 5 sec chart, 1 min chart, plus a 49cvb for reference. I suggested the 30 sec chart because most people found the 5 sec is too fast. Bollinger Band is the key. If you have studied stat, you will understand how distribution works. Even if you have not studied stats, no worry, just go get Bollinger's book. it is a thin book, very easy to read... he has many tips and tricks on how to utilize the BB. Give it a try... read the book, then observe the market for a few weeks... you will have lots of questions by then... come back and let's talk. ok? http://www.amazon.com/Bollinger-Ban...1096856?ie=UTF8&s=books&qid=1200859609&sr=1-1
I use Bollinger Bands as one of my tools to spot entry and target. http://elitetrader.com/vb/showthread.php?s=&postid=1744371#post1744371
Days: any day is a good day. time: 9:45am to 10:00am is a great trading time. The stock market opens at 10:00am, the futures cannot go away too far off before the stock opens. If the future makes a big gap open, the chances are it will "try" to return to a "normal" premium. (this is an advanced technique. We can talk about it later.) I try to exit my positions before HK noon. HK market closes at 12:30 to 14:30 for lunch. I don't want to hold over lunch time; HK market is famous for making big gap openings after lunch, I don't want to participate in the gap. Also I will not initiate any position after 15:30. many markets (incl ES) likes to make a reversal in the last 30min. I just don't want to get stuck in the rush. It is a personal preferrance. Indictor: Bollinger Bands, trendlines, MA, etc., Basic TA stuff. Volatility: The higher the better. Correlatied: Don't bother.
To the last poster - I doubt it. To ET99, the above statement is one of the funniest on ET this year. Enjoy.
Thanks for the quick reply An analyst said that HSI will dip to 22.000. I am bound to agree with him. For tomorrow, I plan to short the Hang seng
ET99, It seems like you are using BB a lot. Then you might be interested in the following book: "Dynamic Technical Analysis" by Philippe Cahen. He covers excellent material there in both editions. He centers his ideas around BB. John Bollinger was very impressed when he learned about work done by Cahen. They keep in touch. Cahen using something called triptic, equivalent of 3 screens also described Elder. Regards, redduke