Do you look at overnight data?
|November 23rd, 2013, 11:25 PM||#11 (permalink)|
Futures Experience: Advanced
Platform: NinjaTrader, MT4
Broker/Data: Amp/CQG, Citibank
Favorite Futures: CL, GC, 6E, ES, TF, EURUSD, GBPJPY, AUDUSD
Posts: 345 since Sep 2010
Thanks: 367 given, 548 received
Appreciate the candid input @Amsterdam Whale .
I think what you've noted is something that applies to all - even successful - traders: many of us have our 'systems' and other confluence points that we look for to exit/enter trades. For example, I've noticed that when I am trading CL and using VWAP - it often coincides with a certain EMA or SMA (sorry, don't know which one or the value) which another trader might be tracking: I'd be on chat with him, and his EMA/SMA levels will coincide with the (ETH) VWAP levels, yet he does not use VWAP. It's a bit like when he is using ichimoku levels/clouds (which I know nothing about) and they coincide with fibs or POCs or something else I am using, as an entry/exit.
My point to the examples is that we as human traders usually can't track an inordinate amount of indicators or real-time variables, so, we choose something that works for us, yet, someone else is using something completely different, they can have similar/the same levels.
In the end, if each one is nicely profitable, and remains so, I suppose all is good, and we carry on with the trading 'system.' Some - myself included - are constantly trying to refining and trying to learn new things, discarding what may not work, and adding what does, to the toolbox.
Last edited by Beljevina; November 24th, 2013 at 02:03 AM.