Trading the SLA/AMT Intraday - Emini Index Futures Trading | futures io social day trading
futures io futures trading


Trading the SLA/AMT Intraday
Updated: Views / Replies:43,051 / 362
Created: by DbPhoenix Attachments:197

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Closed Thread
 197  
 
Thread Tools Search this Thread
 

Trading the SLA/AMT Intraday

  #241 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received


Gring0 View Post
There's a SL on NQ from 11/27 and 03/01 tops and it is turning out to be quite interesting to see price stall there again.

Gringo

Leave it to you to come up with the sophisticated stuff

I hope to see you posting your group and sector stuff here. Given the behavior of the Dow and the non-participation of the ES in all this, there should be some interesting cross-currents in the coming weeks.

 
  #242 (permalink)
Trading Apprentice
Newark, NJ
 
Futures Experience: None
Platform: Sierra
Favorite Futures: Index futures
 
Posts: 2 since Jun 2015
Thanks: 1 given, 1 received


DbPhoenix View Post
Leave it to you to come up with the sophisticated stuff

I hope to see you posting your group and sector stuff here. Given the behavior of the Dow and the non-participation of the ES in all this, there should be some interesting cross-currents in the coming weeks.

I think the Russell not following the NQ is a nice "tell".

The following user says Thank You to WhyCough for this post:
 
  #243 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received


In case it's not obvious:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

The following 2 users say Thank You to DbPhoenix for this post:
 
  #244 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

The following user says Thank You to DbPhoenix for this post:
 
  #245 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received

Just checking to see what the neighbors are doing.

Interestingly, this is a mirror of the change in the uptrend angle that the ES took two years ago. This is not to say that the ES can't rally, but this is also characteristic of the topping process.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

The following 3 users say Thank You to DbPhoenix for this post:
 
  #246 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received

The Dow, of course, is in even worse shape.

The dashed upper limit is drawn as a result of a supposition that that first swing high was an overbought condition, given that price settled into a steady, lower upper limit thereafter. Either way, the Dow is weak, and has been for months.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



As WhyCough pointed out, these are "tells".

The following 3 users say Thank You to DbPhoenix for this post:
 
  #247 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received

the Danger Point



Never make a commitment until you have decided, in advance, where the danger point exists in that stock*.

–Richard Wyckoff

*or futures contract or bond or option or ETF or . . .



Danger Point. Sounds like something by Tom Clancy. Or Michael Connelly. Richard Wyckoff coined the term nearly a century ago to call attention to that point or level or "zone" at or in which the trader would be in "danger", i.e., in danger of losing money, the level at which the market would poke him in the ribs and suggest that he might just possibly – or probably – be wrong about his trade. The purpose of this construct is not to demonstrate to the trader what a loser he is but to keep him from becoming one.

When one enters a trade, he quite naturally expects price to move in a certain direction, though how far is pretty much unknowable. If price instead moves in the opposite direction, this in itself may not doom the trade, but if the trader examines his reasons for having entered the trade in the first place, he will also be able to determine the danger point. For example, if the trader sees what to him is a double top and enters a short just below that double top, his danger point is that level just above the double top. If instead of falling price rises and makes a higher high, the trader can't escape the fact that he was wrong about the double top. The chief consideration, though, is to prevent the trader, via a stop, from having to suffer simply because he is experiencing an unavoidable loss. The construct also applies to the opposite: a double bottom, below which is its own danger point.

Danger points also apply to other commonly-used SLA/AMT entries: above or below the 50% reaction/rally level of a previous up or downmove, above the upper limit of a range or trend channel, below the lower limit of a range or trend channel, above a lower high, below a higher low, above or below the apex of a hinge.

Given that losses are inevitable and unavoidable, placing hard stops at or just outside the danger points does not prevent the loss itself but does prevent it from becoming much worse than it would otherwise be.

Should it appear that your commitments are started right and your stops reasonably well placed, then the frequent catching of stops should be taken as a warning that you are not operating in harmony with the trend of the market. Thus, if you persist in selling stocks short in a rising market you are bound to expose your stops to the danger of being touched off on bulges. Conversely, if you repeatedly buy on what you believe are reactions only to discover that your stops are consistently caught, this should be taken as an indication that you are operating on the wrong side of the market — the trend is down and those presumed "reactions" in reality are waves of liquidation. Such errors of judgment sometimes lead students to abandon the use of stops. Nothing could be more dangerous. (Wyckoff)

Danger points, however, also serve an unexpectedly valuable function to the trader who prefers retracements. A common question asked by such traders revolves around "Where (exactly) do I enter? Do I enter a tick away from the top/bottom of the retracement? Two? Three? More? Do I enter a tick away from the highest/lowest inside bar? Two? Etc?" If, however, one instead looks at danger points and enters N ticks away from them, the fact of the retracement is there, but the details of its structure become irrelevant. This tactic also avoids the press of waiting for a retracement to complete itself before transmitting the trade, only to find out that there isn't enough time to do so. This tactic is also useful in modified form when entering reversals, the advantage here being that the danger point is known well in advance due to the structure of the range.

And if price keeps running over your stops like a rogue truck?

After you have traded for a while, if you find that your stops are being caught too frequently, it will mean that you are not careful enough in starting your trades. Thereafter decide to use more discrimination. Refuse all but the best opportunities. Wait for them. Take your positions as close as you can to the danger points, as shown on your charts or on the tape. Place your stops [at or just beyond the danger points]. Study your mistakes and profit by them. Know every minute why you are starting a trade, why you are holding it, and why you should close out. (Wyckoff)

The following 10 users say Thank You to DbPhoenix for this post:
 
  #248 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received

If you look at every top we’ve lived through, they each have certain ingredients -- internal market deterioration; rationalizations and lulling; using up buying power even though you used to know better; and waiting and waiting for the bell to go off, which proves in hindsight to be rather more of a little tinkle that you thought you heard but weren’t sure enough of to act upon. The one eternal aspect of every market top is that it occurs before we’re ready for it.

-- Justin Mamis

The following 3 users say Thank You to DbPhoenix for this post:
 
  #249 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received

Someone came by the office the other day to try to sell a particularly sophisticated computer software program -- at $1,900 per month. Up on the screen went what the salesman thought was the most useful, or eye-catching, or maybe even terrific, part of his demonstration. "It compares," he launched his pitch enthusiastically, "the this with the that, and down here you can see the relative strength whatzis compared to both of them" and so on. There may have been half a dozen windows on the screen for various comparisons all at once. Seeing me standing there with my arms crossed on my chest, he hesitated, and then finally blurted out: "Isn't that terrific?"

"Now what do I do?"

"What do you mean?"

"I mean, having looked at all those nice pictures, how does it, where does it, tell me something useful?" Then I felt I'd better elaborate. "Do I buy the relative strength? Or do I decide to buy the weakness instead, on the theory it'll catch up? What do I do? maybe you've got a button to push that'll give a signal."

"Oh, sure," he said, warming up again from that bewilderment. He threw another set of windows and zigzags up on the screen, and demonstrated that one roller coaster had just started scooting across its zero line. "There's the action signal for you."

"But I don't want that signal," I said. "How many inputs did it take to get it across that line? I want the message that told some guy to buy back down here as the roller coaster was coming to the low of its ride and arcing upward. He's probably rubbing his hands with glee to sell to your guy who is going to buy because of your signal."

-- Justin Mamis

The following 4 users say Thank You to DbPhoenix for this post:
 
  #250 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received


Going back over old posts to determine whether or not I still agree with myself (I often don't), I got a kick out of this:

https://futures.io/index-futures-trading/34908-trading-sla-amt-intraday-7.html#post500063

The following user says Thank You to DbPhoenix for this post:

Closed Thread



futures io > > > > Trading the SLA/AMT Intraday

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
New strategy for trading CL intraday Ecko Commodities Futures Trading 12 October 9th, 2013 12:10 PM
Intraday-Trading: Trading-PC vs. VPS/Hosting Renkotrader German Traders 12 March 28th, 2013 11:43 AM
Could a 'Fiscal Cliff' Deal Include Cap on the AMT? Quick Summary News and Current Events 0 December 18th, 2012 02:40 PM
‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ Quick Summary News and Current Events 0 November 29th, 2012 12:40 PM
Why Me? AMT to Trap Record 4.3 Million Taxpayers This Year Quick Summary News and Current Events 0 April 2nd, 2012 02:40 PM


All times are GMT -4. The time now is 07:25 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.20 seconds with 20 queries on phoenix via your IP 54.226.113.250