S&P 500 & other indexes - intraday. Plus chat

[Pat494]

What's going on with your stops Pat?

I use small stops and they get taken out, so I double them - still taken out. I have had them below the bollinger band - same result.
If I put them really low like 1200 for a long then I find I am in a hole and getting worse so sell out.

Usual story I reckon.

Do you like my soution to the world's problems ?

Why not every country put 10% of their military budget into the UN and clean up the planet, feed the starving etc. ?

 

[robster970]

Hard to read, isn't it?

Yes. I thought piggy was mental shorting when he did but then when it tried again and there was no +ve orderflow coming through I thought this will go. What I didn't expect was all the -ve orderflow getting absorbed at 1.50 which made me think that somebody is lurking. Shorts covering at 2.50 was what I expected but again, not that many.

Patchy isn't it.

 

[robster970]

I use small stops and they get taken out, so I double them - still taken out. I have had them below the bollinger band - same result.
If I put them really low like 1200 for a long then I find I am in a hole and getting worse so sell out.

Usual story I reckon.

Show me a trade on a chart Pat. I seriously doubt it is your broker.

Yes I do like you humanitarian suggestion Pat

 

[Pat494]

Show me a trade on a chart Pat. I seriously doubt it is your broker.

Yes I do like you humanitarian suggestion Pat

Here is the 1 min chart.
In long @3.30

you were right !

 

[Pat494]

They trigger the stop if it is 0.2 pts away.

 

[robster970]

Here is the 1 min chart.
In long @3.30

you were right !

So on ES, you just needed a tight stop at 1402.00/1402.25 - I don't think there is anything wrong with it - you just got the direction wrong. 6 tick stop would have been fine.

Only difference between you and I is I saw weakness and you saw strength

You've got to remember Pat I've got orderflow and volume information to supplement my decision making - that's a big advantage over just a chart.

 

[Pat494]

So on ES, you just needed a tight stop at 1402.00/1402.25 - I don't think there is anything wrong with it - you just got the direction wrong. 6 tick stop would have been fine.

Only difference between you and I is I saw weakness and you saw strength

You've got to remember Pat I've got orderflow and volume information to supplement my decision making - that's a big advantage over just a chart.

Yeah right

Getcha next time

:whistling

 

[robster970]

Yeah right

Getcha next time

:whistling

Come and join us on the dark side Pat.................

 

[Pat494]

Come and join us on the dark side Pat.................

thanks but I prefer the sunshine to the moonlight

 

[DionysusToast]

thanks but I prefer the sunshine to the moonlight

Do you trade just off the 1 min there Pat or do you do other analysis too?

 

[robster970]

Do you trade just off the 1 min there Pat or do you do other analysis too?

That's what has occurred to me. He's on a TF where orderflow/DOM is going to seriously help him.

 

[DionysusToast]

Let's kidnap him & sit him in front of XTrader for a month....

 

[robster970]

That image fairly accurately represents learning process required but my god, it is worth it.

 

[DionysusToast]

btw - just got another long from 1402.25 - managed to get 2 WHOLE POINTS so far and have a target just above the high.

I felt quite the hero getting 2 points there...

So - I'm finally up for the day -
1 loser 4 ticks x 5
1 winner 4 ticks x 5
1 winner 4 ticks x 3, 8 ticks x 1 & still waiting to see if we can get a push up through the high for stops.

I feel like quitting it for a few weeks but I guess this is a character building experience.

 

[robster970]

Net +5 per lot then? Good work sir

A productive day for some, not so for others. That's trading for you.

 

[DionysusToast]

out the last contract at +4 ticks....

evil vendor meets evil broker in 10 minutes to discuss world domination....

 

[Splitlink]

Looking at the interchange between Pat and Robster I wonder what it is we see, to do the things we do.

I use Bollinger Bands quite a lot and they have given good reversal signals this week, because of the sideways movement. This morning I had no hesitation in using a point below the BB for my stop. I entered the Sept long at 0827 price 1399.5. It's been a boring day and I'm not sure why I am doing this, frankly. Doesn't anyone think that Footsie has more life in it? Robster, I cannot see your reason for shorting. It's been sideways until 1400 and then started to rise.

 

[robster970]

Looking at the interchange between Pat and Robster I wonder what it is we see, to do the things we do.

I use Bollinger Bands quite a lot and they have given good reversal signals this week, because of the sideways movement. This morning I had no hesitation in using a point below the BB for my stop. I entered the Sept long at 0827 price 1399.5. It's been a boring day and I'm not sure why I am doing this, frankly. Doesn't anyone think that Footsie has more life in it? Robster, I cannot see your reason for shorting. It's been sideways until 1400 and then started to rise.

I will show you in a chart in a minute...

Annotated picture:

 

[DionysusToast]

Looking at the interchange between Pat and Robster I wonder what it is we see, to do the things we do.

I use Bollinger Bands quite a lot and they have given good reversal signals this week, because of the sideways movement. This morning I had no hesitation in using a point below the BB for my stop. I entered the Sept long at 0827 price 1399.5. It's been a boring day and I'm not sure why I am doing this, frankly. Doesn't anyone think that Footsie has more life in it? Robster, I cannot see your reason for shorting. It's been sideways until 1400 and then started to rise.

FTSE is thinner than Kate Moss after a coke binge.

That completely counts me out.

Bollingers will work in ranges because a range is movement around value and you fade moves away from value.

In terms of today - I've been short & long. I think that's more down to being a short term trader though and the ES being a market that swings up & down, although it didn't swing much today.

 

[Splitlink]

I will show you in a chart in a minute...

It's a holiday over here and I have been sitting around the flat all day because it is too hot to do anything else. I must go and stretch my legs, though, or I'll get circulation problems, or a corn on my backside, or something, equally, grim. If you would like to see my charts, I'll put them on afterwards. Cheers.