Not a lot going on in ye olde market so far. I was up 3 points in the first hour, and haven’t traded since. Others noted I seemed bored when I was looking up how many definitions various english words had.
How little action has there been? Here is the renko chart for the day so far (this is THREE hours of market action!):
Yep, that’s it. Note that there would have been 2 trades so far, both winners. You wouldn’t take the first short because it was on an up bar, and GVol_Osc was rising by the time the next down bar occurred.
(post title is an homage to dehtrader)
January 14th, 2008 at 5:09 pm
Lots of chop the last few days. Not much fine to learn trading in this.
January 14th, 2008 at 5:46 pm
Not much fine at all! ;)
I was all thumbs today, more later.
E.
January 14th, 2008 at 6:06 pm
Michael: but lots of 1-tick moves, no?
Eric: Yeah, today looked tough. Shortly after I posted this, my Blau book arrived, and I’ve been reading through it since then. Probably saved me!
January 14th, 2008 at 6:51 pm
Richard: i’m anxious to see what you think…as i said, the math was above my head, so i sort of had to take his word for it…however, i liked the concept of measuring the change of momentum, and not prices to reduce the lag in indicators…i’ve also found the chapter on slope divergence to be very helpful
one thing i really liked is the fact that he suggested ideas, and not a trading system per se…it gave me plenty of food for thought, but my brain doesn’t require as much nutrition as yours…personally, i think u and prospectus could get a lot more out of it
i’m also looking forward to both of your articles when the TASC starts coming in
January 14th, 2008 at 9:23 pm
Richard,
I’m still experimenting with a lot of things in simulator. I ended the day about break-even with all of my messing around.
I also (finally) got around to setting up my EOT chart in Tradestation properly. I looked over the last two days of trading and found a set of entrance criteria that looks rather profitable. I’m going to give the EOT chart a whirl in simulator tomorrow.
Have you ever experimented with multi-bracket orders? I’m trying to think of a way to offset the risk of EOT’s 3-4 point stops. What do you think about a multi-contract entry that tears all but one contract off fairly early (say 2-4 ticks). This locked-in profit could then ‘finance’ the larger stop should you happen to take one on the single contract that you are allowing to run. I’m might play with that tomorrow.