actually i have no clue why the market turns but i know that i do trade around the turn...not at the tur it happens automatically having traded since 13 years.......... i am trading like i drive..... without thinking
Why? If you look back over the ES-SPX this happens often like this. Of course there are as many times where it looks like it will, but does not. Watch it long enough and you will see the differences. The real question you are asking is "what is and when is there actionable information?" There are so many possible trades and tactics, any particular "reason" will have a many reasons to trade or not trade, tactics to use or not use. Often people think some technical or informational "edge" is all they need. Yet they don't spend enough time on the other parts. The other parts allow you to take marginal information and trade. You need both and have to be proficient at both. An analogy, is food. If you have super high quality food ingredients, all you have to do is not screw it up to make a good-great meal. If you have marginal ingredients, it takes skill to make a good-great meal. ES-SPY (and its indicators) are marginal ingredients. Hope that helps.
How about todays low? Any good reason for that? Some people called it before market open so it must have been some sort of 'level' (obviously it's around the previous days high for one, but many times that same trade fails. But he has very strong conviction on the level. Why. Maybe some sort of powerful 'orderflow' level that coincided with being close to yest. high) current price = 3713, so a nice trade. Target 19
How did this turn out for you? 19 clearly didn't hit. Does your twitter guy update his trade when he exits or just when he enters?
it worked out very nice overall since entry was close to the low tick at 03 and it got up to 16. (some of for +10, some off for +3 when price came back near entry later on. Very nice overall). BUT none of that is the point of the thread tbh. It's about trying to work out how they do it together. Not shilling for gurus. That's why I haven't and won't mention any of them
if you think bad traders remain bad forever.....then you are the idiot. i have traded badly, and i said it, for 10 years here in ET and you believed me when i say that. but now i say i am profitable and you do not believe me. so what does that say about you?
What is says about me? That i know you are a liar ! The last time you published a strategy that blew out was 4 weeks ago ... So after decades of losing, now you are profitable for how long? 4 weeks at most and aren't even sharing it, so yeah, no wonder i don't believe you ... Funny how you always share your results when you are losing, but whenever you are profitable it is a secret that nobody can see ... Maybe come back and say you are profitable when you are profitable for 6 months or so. You had your lucky streaks of a few weeks of profit before, but it never lasted. Even better, wait until you have made back everything you ever lost in the past decades before you claim you are profitable.
Interesting. That level was automatically plotted on my charts for that day. Accurately, it was 3703,25.
What about the low on Friday? Was it obvoiusly gonna make that hard move down? How did people know to wait for the low? (i'd have jumped in long much earlier if not for people telling me to wait) For example, this person called this around the market open (when price was 3705): low ended up being 3677.25 followed by a monster rally. I wonder if this sort of software is a necessity or not: Many claim 'orderflow' let them know in advance where the highs and lows would be, and also ohow to pinpoint exact entry. But no books i've read yet on the subject have actually helped much, tbh. I've not seen many on elitetrader able to make these sorts of calls so maybe that's why there's not really been much in the way of explanation yet.