I was around today, (will be gone for most of Wednesday’s session this week). I am still just being lazy, though, and taking those simple continuation plays I mentioned a while back.
What I like about them is that they are pretty localized, so I can get distracted and still look for this setup whenever I am at my screens. I don’t need to know too much about what the markets have done so far. Here are three examples from today. The rules for the setup are outlined in the post from last week. You can see that these are decent examples.
(as I mentioned in the comments yesterday, I did not even make a single trade yesterday… this continuation setup really only happens when the markets are moving smoothly).
February 12th, 2008 at 6:07 pm
whatever happened with that signal to noise ratio? did that do a good job of identifying these smoother times? i have yet to figure out a way to do it consistently
February 12th, 2008 at 6:42 pm
Like other kinds of choppiness indicators, signal-to-noise just lags too much. I couldn’t find a way to speed it up enough to be useful. You always miss the move that takes you out of the noise… and you don’t need it to tell you about times when there’s clearly no noise. So…
February 12th, 2008 at 6:50 pm
i agree, but i was hoping!