Trading the ES (E mini S&P) November 2003

[rossored]

Bad luck Andy.

On a seperate note, does anyone know if IB give out tick data? Or do I have to subscribe to someone like MyCrap again?

( I would ask IB this but I'm after a reply sometime before 2004, so I thought I'd ask it here instead )

RR

 

[Trader333]

stoploss,

Who is your broker or do you use a SB company ?


Paul

 

[stoploss please]

Groping around for support

Well, the break of 1042 left me scratching around for support. With no recent numbers to hand, I decided to look at 1036 which was todays S2. Although I no longer use my pivot point calculator, not much choice today. Entered long on what seemed like a four bar basing pattern. Was in the money as soon as I entered which made me feel that I had picked the bottom but an hour and a half later, got stopped out.

 

[stoploss please]

Trader333

Getting shafted by IG at the moment. I am not looking to make big money, just to prove my method. Once I have done that, I plan to use Tradestation level 2 access.

 

[Trader333]

stoploss,

Why go for Tradestation Level II ? if you are trading the ES there
is no need for level II unless you intend to trade stocks ?


Paul

 

[stoploss please]

Hi Paul

This is news to me. I am right in saying the ES is the same as the Spyders and you can trade them via level 2 or have I got my wires crossed. How would you trade it.

Cheers
Andy

 

[Trader333]

stoploss,

I see what you want to do now, you can trade the QQQ via Level
II so if that is what you want to do then you are fine. Any reason
why you want to use Tradestation as opposed to say IB ?


Paul

 

[stoploss please]

I had access to a few level 2 systems and Tradestation looked like the best one. With IB, is it right that you piggy back off there own level 2 access.

 

[Trader333]

IB is a direct access broker. The key advantage is that you can
open an account in GBP whereas with Tradestation you would
have to open it in USD. Converting back to GBP on a regular basis
is costly. I trade using the IB platform and a separate Level II
datafeed and once you know how to route orders I believe it is
almost as good as the direct access level II platforms.

Transfering funds is easy with IB and doesnt cost anytihing either
I would at least consider this before making a final decision.


Paul

 

[stoploss please]

In need of Trin experts

Had a look at the Trin today. With it being to so bear ugly all day long decided to see if it has any merits. Anyway, with the bias being short, the Trin signalled some good entries that were confirmed by the price. I am not sure if this was just an exceptionally negative day which made it easier to read but I am going to run it along side my Skim set up and see if it gives me any pointers on those nasty consolidations which always keep me guessing.

For those of you who are not familiar with the Trin, here are the parameters courtosey of 21st Century Futures. Rising Trin being price negative and and falling Trin being price positive.

Mega bullish +0.60 or lower
Bullish +0.80 or lower
Mixed/neutral 0.9 to 1.00
Bearish +1.00 or higher
Bear ugly +1.30 or higher

Trin crossing blue thick line are short candidates and Trin crossing black fan lines are long candidates. As the Trin had such high values, I was looking for a good amount of basing around strong support before I would attempt a long entry but this did not happen.

As a Trin virgin, it would be great to hear from some one with good experience of this tool.

Cheers
Andy

 

[stoploss please]

ES 18/11

The shorts were easier today because of the Trin reading, Beginners luck. I tried to short the ES on the 3rd break down but my pc froze on me which was not V nice but I think a learnt some thing new today which is good.

Where I have marked 1 we seem to have a selling climax at what I believe is support and a three bar basing to the upside. The Trin at that time broke down beneath my trend line and my RSI (sorry Skim, I am an addict being weaned off) also gave me an up signal. As you can see, it all went Pete Tong. The Trin was still looking ugly but with every thing else looked a go. It just shows you trading is an art and not a science.

 

[stoploss please]

Any body there??

Well, every one seems busy with IndexKing and MMA these days. This makes for really lively discussion with the old ES, Zzzzzzzzzzzz.....

I have noticed a scenario being touted about on Tactical trader to do with Elliot Wave. Is this a case of a little knowledge being dangerous or is it a fair call.

 

[Trader333]

stoploss,

Isnt this just nothing more complex than a 50% fib retracement ?


Paul

 

[neil]

Stoploss

Or even a bounce off resistance ( Point 1 on your chart ) to continue down move.

Keep posting cos we are watching and like your input. And nice of Skim to pop in with her view of the charts/price bars.

Personally I try to keep it simple and don't bother with "EW" stuff but like the way you use high/lows. My input is that support and resistance are key players here.

Good luck

 

[stoploss please]

Paul, Neil

There is life out there. I thought I was talking to myself.

I suppose it is a complex retracement. With leg 3 down being longer than leg 1. I still do not actually get EW which is really begining to irritate me. I prefer Mystic Meg.

I still need help with the old Trin please.

Andy

 

[madasafish]

TRIN: readings >1 = down trend
<1 = uptrend
see attached chart of Tuesday TRIN is Black white line

 

[Bigbusiness]

I hope Skim continues to post a few charts. All the multi-coloured indicators are great to look at but do they help?

 

[Bigbusiness]

Now to complicate things further!

Quotetracker has a volume by price setting that produced the chart below. Not sure if it helps but it is nice to look at . Does anyone have any ideas for this?

 

[stoploss please]

Ooh, I don't like those charts much. A bit cluttered but if they float your boat......

 

[Miki]

...or find your lost remote...