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Trading the SLA/AMT Intraday
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Trading the SLA/AMT Intraday

  #81 (permalink)
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And as we get closer to the open, the fact that price returns to the midpoint of the range established yesterday afternoon is no accident, at least to those who understand how the effort toward balancing and equilibrium works in an auction market:

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Note: it would not be unusual for price to drop below this range to the extent that it previously rose above it, i.e., 37.5. This is part of the process.

We'll see.

Chance favors the informed mind.

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  #82 (permalink)
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DbPhoenix View Post
And as we get closer to the open, the fact that price returns to the midpoint of the range established yesterday afternoon is no accident, at least to those who understand how the effort toward balancing and equilibrium works in an auction market:
...

Not sure how to interpret your comment. What is your plan? Where will you be looking to be long or short given the current context?

 
  #83 (permalink)
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trendisyourfriend View Post
Not sure how to interpret your comment. What is your plan? Where will you be looking to be long or short given the current context?

As I try to avoid ranges whenever possible, I'll go long or short depending on which side price exits.

Of course, we still have a half hour to go. But I can pretty much guarantee that price won't crap around in this little range all morning.

0916: Note: If one focuses on the pre-open range from 50-65 and the fact that we just rejected the MP of it at 57.5, I'm looking at a short below 50 and a long above 65, the more likely being the short. But this leaves out all the management tactics.

0937: And price rejects 65 (it's not all imaginary after all )

0941: And we bounce off 57.50. Again.

0948: And we hover at the MP between 57.5 and 65.

0958: Now how far below the last swing low would your entry trigger have to be to avoid a false entry?

One can, of course, trade these little ranges if he LOVES fighting HFTs . . .

1017: And this is a "hinge", an effort toward equilibrium, apex 61 (where have I seen that number before . . . )

And, no, I still haven't placed any trades today.

Bummer.

1030: The thing about hinges is that they represent what one might call "price discovery". The disagreements over value create the swings from the upper limit to the lower limit. As those disagreements over value come closer and closer to a mean, the upper and lower limits angle, creating the hinge. However, if price remains inside these limits all the way to the point at which they meet, then an agreement as to value has been reached, more or less, and price is far more likely to range thereafter rather than burst out one side or the other.

So, though I may regret it, I'm leaving it for now. I may check back this afternoon. In the meantime, my bike is calling me . . .

Please clean up after yourselves before you leave: popcorn boxes, candy wrappers . . .


Last edited by DbPhoenix; June 17th, 2015 at 11:33 AM.
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  #84 (permalink)
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@DbPhoenix, what platform do you use? What data feed? Which broker?

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  #85 (permalink)
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IB.

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  #86 (permalink)
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DbPhoenix View Post
IB.

It looked as if you were using free charts and data. Since you classify yourself as a "Master", I was expecting professional tools.

Mike

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Need help?
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  #87 (permalink)
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It's a mixture of the two. I try to use freely-available sources when possible to show beginners that they needn't spend megabucks in order to cobble together at least the beginnings of trading plans, and now that even real-time streaming data is available, there's no reason not to take advantage of it. If trading turns out not to be what one expected, there's no particularly good reason to go bankrupt to find out. And not everyone has ten thousand dollars lying around to fund an IB account.

Many beginners, of course, do it just for fun, and have no interest in trading plans. They have even less reason to spend a lot on charting programs and datafeeds and so forth, though no one is stopping them from doing so. Most would rather just find some sort of indicator and rely on that, though poker would be a lot more interesting.

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  #88 (permalink)
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DB made 18,000 posts on elitetrader.com and sold his e-book to some beginners, now here.

 
  #89 (permalink)
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manualtrader View Post
DB made 18,000 posts on elitetrader.com and sold his e-book to some beginners, now here.

Sorry, no. The book is free.

But Mike is welcome to delete the uploads if he so chooses.

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  #90 (permalink)
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And here we are, right back where we started:

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Aren't mean-reverting markets a hoot?

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