What are the issues aspiring traders want help with?

Discussion in 'Technical Analysis' started by yoohoo, Aug 29, 2006.

  1. As time permits, I'll look at the biggest bug-bearers and see if I can help with some solutions. I'm a day trader and like the Russell and Euro best.
     
  2. How to predicte the future from past data! Obviously, I'm being sarcastic, but that is what TA is all about.

    I'd really like to hear some options techniques for decreasing the spread. Any chance spreads will ever go to a penny on active issues?
     
  3. panzerman, sorry I can't help with options but I do day trade using TA. The signals have to be current, not historic. I don't have a clue how to predict the future from the past.
     
  4. Imagine

    Imagine

    i am curious as to how you "learned" TA when you first started out

    and secondly, how did you determine which indicators work the best for you and of course WHY

    no specific questions here as I am trying to read and learn, but find myself most of the time overwhelmed with all that is available

    thanks
     
  5. Imagine, in 1986 I paid a guy $10,000 to teach me Gann trading. As far as indicators are concerned, it really was a matter of trial and error and making my own adjustments.
     
  6. Imagine

    Imagine

    thank you for the response

    all the best
     
  7. Hi Yoohoo

    Regarding the ER2

    Do you look at volume and bid and ask depth ? Do you look at the ES and others for your primary signals to trade the ER2 ?

    Do you mean TA indicators or do you trade some high probability patterns. What time frame charts do you use? Do you trade any time of day?

    How many trades do you average a day. What is your point target and where do you place your stop? Whats your hold time? Do you average in if price moves against you or only add when price confirms?

    So many questions, thanks
     
  8. Hi BoyBrutus. I do use volume but more in a Wyckoff style that I have developed. I never look at bid and ask depth as that can be false and anyhow, I make the decision based on the fact that I think the price will move in my direction. If you look at time and sales you will see what volume is safe to trade before you get averaging of prices, so you don't need to look at depth. Please understand that this is my approach, I'm not knocking those who find depth useful.

    Markets tend to move with herd emotion, but because the amplitude of the move differs between markets, most traders don't understand that they tend to move up and down together. For trading the ER my first point of reference in the cash market $RUT as the cash can smooth out some of the tick wobbles. Alongside that I look at the cash Dow but the ES and $SPX is fine too.

    I trade using very common indicators like macd, stochastics, cci etc. Generally I don't use patters to scalp, but I zoom out to a bigger timeframe to see if there's a pattern I should be aware of. I tend to scalp within the pattern.

    I keep and eye on the 1, 5 and 10 minute charts but real trading takes place using range charts, usually below the 1 minute timeframe.

    I trade all day. I even eat at the screen. I don't believe in bad times to trade. Time and sales tells me what's safe, and indicators don't know what time of the day it is!

    Number of trades can be around 100 per day. I don't have a target and I don't "place" a stop. Basically I expect the trade to work quickly, and if it doesn't and moves below the prior bar I'm out.

    Using range charts means I don't think time. A trade usually lasts more that a minute but sometimes less. Every day I'll have trades 15 - 30 minutes in duration.

    Because I have a lot of confidence in the price movement I never scale in/out. If you don't have that degree of precision, scale in/out and read lots of books on trading psychology!
     
  9. 4re

    4re

    Trade the Q's. Good spread, quick fills and a lot of volume
     
  10. Cheese

    Cheese

    You can.
    It will include data history right up to the screen in front of you and the previous bar live!
    :)
     
    #10     Aug 29, 2006