This week I will post Trading Times for S&P 500. Trading Times are posted one day ahead of time , you can see Trading Times for Monday posted on Sunday or sooner, for Tuesday will be posted on Monday, Wednesday Trading Times will be posted on Tuesday and so on. Trading Times are to be used with your own trading method as a confirmation tool . If you do not have your own method , here is one you can use . Trading Times are produced on 5 min charts but you use any time frame where you feel more comfy. Indicators: 1 / 8 and 21 MA ( pick one or use them both ) 2 / 8 period CCI Buy/sell if either price closes above/below MA or there is a divergence between 8 CCI and price. Stop is 3 points or closest high/low. Profit target is up to you, scalpers , daytraders or swing traders they all can use Trading times. This is very simple method, you can add some overbought/oversold indicators, trendlines and more but I want to make it as simple as possible. Purpose of Trading times is : 1/ increase win % above 80% 2/reduce time spend in front of screen waiting and waiting and waiting for a signal 3/reduce stress by cutting down on unknown . Basically all you have to do is to come to the screen few minutes before a Trading Time and see if there is a valid setup from your method. If yes, you can place a trade ,if there is no trade setup based on your method, you can leave and do whatever you desire till the next Trading Time . If you find Trading Times useful, let me know privately , I was asked to form private Yahoo group where we can work on this together. I like an idea but I would like to know how many people would like to participate. Send me an email or pm . Trading Times ( TT ) for Tuesday, for S&P500 are: 10:00, 10:50 and 12:10est. Walter
Thanks Walther. I will be watching them closely this time to see if I get my setups close to the times you predict. They are a bit different from my standard times based on statistical observations, although 10:50 comes close to 10:30 that I like to watch. The Yahoo group idea is certainly worthwile pursuing and I for one would like to support it. Thanks again, Wally
Consumer confidence, existing home sales, and new home sales are @ 10:00 am est, that may be a real corker with 10:50 as a reversal. Just something to be aware of if your gaming these times.
When I do Trading Times analysis I do not look at when reports are coming out . But it is a good idea to know it . I do not think that 10:50 will be reversal of 10:00. You have to go with a direction as indicated by your method or by method we a re using here to evaluate TT signals. Take them separately even though sometimes TT's marked beginning and end of a market move. Walter
10:00est Trading Time (TT) was picture perfect. At 10:01 price closed above 8 and 21 MA's and 8 periodCCI has completed divergence at 10:02est. So it should be a buy according posted rules. Walter PS; If you would like to participate in yahoo group concerning Trading Times send me email or pm me, I will limit group to 100 traders .
10:10est TT was a textbook example of how TT signal should look like. 10:50 and 12:10est both have a 8CCI divergence signal but were well above both trendlines and divergence was giving signal against the trend. Therefore these two TT signals were not tradeable. At the end of the day price may be lower then it was at 12:10 but our goal is Stress Free Trading. If we can get 5+ good TT signals per week we will be also worry free. Walter
Today was not that bad. I am sure that you have noticed that after 8 and 21Ma cross at 10:00 TT these Ma's never crossed again so if you are MA guy (girl ) you might have whole day trade. In real trading you would have got out much earlier, probably around noon. TT for Wednesday : 9:55, 10:55est, I have very weak signal at 9:35 and 10:15 also but do not pay too much attention to these. Thanks, Walter