follow the professionals - futures io
futures io futures trading



follow the professionals


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one Silvester17 with 24 posts (12 thanks)
    2. looks_two zikonc with 7 posts (1 thanks)
    3. looks_3 Big Mike with 4 posts (0 thanks)
    4. looks_4 toulouse-lautrec with 1 posts (0 thanks)
      Best Posters
    1. looks_one qewcool with 1 thanks per post
    2. looks_two pmccandless with 1 thanks per post
    3. looks_3 Silvester17 with 0.5 thanks per post
    4. looks_4 zikonc with 0.1 thanks per post
    1. trending_up 21,158 views
    2. thumb_up 16 thanks given
    3. group 10 followers
    1. forum 44 posts
    2. attach_file 12 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

 
Search this Thread
 

follow the professionals

(login for full post details)
  #1 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received

lately I have seen many posts about following the pros and the smart money. not an easy task. when there's big activity, it's more than likely that pros are on both sides (buyer and seller). and not to forget there are different kind of pros, like the speculators and the hedgers. both can produce high volume, but with different objectives. another problem is how do they execute their orders. do they have resting orders or do they hit bid and ask. the answer is likely both.

one thing I feel pretty much useless is watching the DOM. you see a big block on the offer, conclusion the market is going to drop because there's a big seller. all the sudden that block is gone and the market moves higher. a very old trick, but still works. watching time and sales on the other hand will show you very important information. but I'm getting tired doing that for a long time.

so I prefer to watch the entire volume:

- how much volume did it take for a certain range.
- increased volume can indicate reversal points.
- volume based MA's can show S / R lines.

Attached Thumbnails
Click image for larger version

Name:	ES 06-10  4_1_2010 (PnF 4 Ticks).jpg
Views:	498
Size:	177.6 KB
ID:	10601  
Started this thread Reply With Quote

Journal Challenge February 2021 results:
Competing for $1500 in prizes from Topstep
looks_oneSBtrader82 's Trading Journalby SBtrader82
(172 thanks from 31 posts)
looks_twoJust BEING a Trader: Letting Go!!by iqgod
(120 thanks from 33 posts)
looks_3Wisdom is Emptinessby Mtype
(68 thanks from 25 posts)
looks_4Deetee’s DAX Trading Journal (time based)by Deetee
(31 thanks from 17 posts)
looks_5Journal for peanuts1956by peanuts1956
(23 thanks from 13 posts)
 
 
(login for full post details)
  #3 (permalink)
san ramon
 
Experience: Beginner
Platform: ninja
Broker: zen
Trading: es, 6e
 
Posts: 136 since Oct 2009
Thanks: 98 given, 76 received



Silvester17 View Post

so I prefer to watch the entire volume:

- how much volume did it take for a certain range.
- increased volume can indicate reversal points.
- volume based MA's can show S / R lines.

do you have explanations how to read the attached chart?..... .......thanks, zikonc

Reply With Quote
 
(login for full post details)
  #4 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received


zikonc View Post
do you have explanations how to read the attached chart?..... .......thanks, zikonc

1.) the PnF bars are helping to find a breakout

2.) it's difficult to see here. the trend was still up, but the down volume started to increase.
sign of possible reversal

3.) the VWTPO is a good indication for a pullback

Attached Thumbnails
Click image for larger version

Name:	2010-04-02_0037.png
Views:	438
Size:	124.4 KB
ID:	10660  
Started this thread Reply With Quote
The following 2 users say Thank You to Silvester17 for this post:
 
(login for full post details)
  #5 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,758 since Jun 2009
Thanks: 32,301 given, 97,528 received

Silvester,

Can you post the VWTPO? I'm interested in trying to convert it to EasyLanguage for MultiCharts.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #6 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received


Big Mike View Post
Silvester,

Can you post the VWTPO? I'm interested in trying to convert it to EasyLanguage for MultiCharts.

Mike

thanks goes to cory. the indicator is in the download section.


Started this thread Reply With Quote
The following user says Thank You to Silvester17 for this post:
 
(login for full post details)
  #7 (permalink)
san ramon
 
Experience: Beginner
Platform: ninja
Broker: zen
Trading: es, 6e
 
Posts: 136 since Oct 2009
Thanks: 98 given, 76 received

thanks ........... i have volume sum on ZigZag indicator....basically it sums the volume of all the bars in the run......I think attaching volume accumulation to some sort of oscillator would give volume info sooner.......

Attached Thumbnails
Click image for larger version

Name:	vol.png
Views:	318
Size:	20.0 KB
ID:	10669  
Reply With Quote
 
(login for full post details)
  #8 (permalink)
Arizona
 
 
Posts: 14 since Apr 2010
Thanks: 0 given, 17 received

I like ur thinking. We have sort of the same style. Good stuff.

Reply With Quote
The following user says Thank You to pmccandless for this post:
 
(login for full post details)
  #9 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received

what is the market (ES) doing next? the pros going long or short?

according to the action we have seen the last few days, it looks like they will be LONG!

target around the 1220 area.

Started this thread Reply With Quote
 
(login for full post details)
  #10 (permalink)
san ramon
 
Experience: Beginner
Platform: ninja
Broker: zen
Trading: es, 6e
 
Posts: 136 since Oct 2009
Thanks: 98 given, 76 received



Silvester17 View Post
what is the market (ES) doing next? the pros going long or short?

according to the action we have seen the last few days, it looks like they will be LONG!

target around the 1220 area.

it certainly looks like that.................although I would not be surprised if we test 50s and 60s just a little more

Reply With Quote
 
(login for full post details)
  #11 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received


zikonc View Post
it certainly looks like that.................although I would not be surprised if we test 50s and 60s just a little more

absolutely. I wouldn't be surprised either to see a pullback. but remain more aggressive with long trades.

Started this thread Reply With Quote
 
(login for full post details)
  #12 (permalink)
Marietta, GA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: futures
 
Posts: 35 since Sep 2009
Thanks: 48 given, 9 received

Please forgive my ignorance, but what are PnF bars?

Reply With Quote
 
(login for full post details)
  #13 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received


Maestro View Post
Please forgive my ignorance, but what are PnF bars?

PnF bars = Point and Figure Bars

here are some links for explanations:

http://ww16.movethemarkets.com/blog/2009/08/10/quick-and-dirty-ninja-pnf-bars-version-2/?sub1=20210301-1620-3665-80a7-5042f08e9eb5
(hope richard don't mind)

https://www.investopedia.com/terms/p/pointandfigurechart.asp

Started this thread Reply With Quote
The following user says Thank You to Silvester17 for this post:
 
(login for full post details)
  #14 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received

thanks again Richard for the PnF bars.

I find it especially useful for choppy markets (together with VWTPO).

Attached Thumbnails
Click image for larger version

Name:	ES 06-10  4_8_2010 (PnF 4 Ticks).jpg
Views:	360
Size:	83.0 KB
ID:	10868  
Started this thread Reply With Quote
 
(login for full post details)
  #15 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received


Silvester17 View Post
what is the market (ES) doing next? the pros going long or short?

according to the action we have seen the last few days, it looks like they will be LONG!

target around the 1220 area.

we didn't quite get to the 1220 area (yet), thanks to goldman sachs. but I would be very careful about shorting the market here. the up move is still intact and it looks like we are finding support again (like it did so many times in the past). a drop below 1180 could change my opinion. it reminds me a little of the dubai "crash". everybody thought that's it, we are going down, but in fact it was a golden opportunity to get long again.

so the question is, what will the professionals do?

Started this thread Reply With Quote
 
(login for full post details)
  #16 (permalink)
san ramon
 
Experience: Beginner
Platform: ninja
Broker: zen
Trading: es, 6e
 
Posts: 136 since Oct 2009
Thanks: 98 given, 76 received

I think few are very cautious......

The Scariest Chart You'll See This Week

Reply With Quote
 
(login for full post details)
  #17 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received


zikonc View Post
I think few are very cautious......

The Scariest Chart You'll See This Week

I don't know, but I have the feeling many traders are bearish for a long time and now they finally can smell something, just like jeff clark who showed us the scariest chart of the week. (thank you for the link).

I especially like this phrase:

"I warned you about this pattern ( here and here) as it was developing. When the market finally broke down, it wiped out four months of gains in just a few days. "

unfortunately he forgot to mention that it didn't take long at all to get right back up there again.

Started this thread Reply With Quote
 
(login for full post details)
  #18 (permalink)
san ramon
 
Experience: Beginner
Platform: ninja
Broker: zen
Trading: es, 6e
 
Posts: 136 since Oct 2009
Thanks: 98 given, 76 received

well, something is pushing the market up so no point fighting it....for now I would be modest about the leaps we make forward.......

I think he makes nice profit on his favorite chart pattern when it occurs
The China Bubble Is Ready to Pop ......

Reply With Quote
 
(login for full post details)
  #19 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received


Silvester17 View Post
we didn't quite get to the 1220 area (yet), thanks to goldman sachs. but I would be very careful about shorting the market here. the up move is still intact and it looks like we are finding support again (like it did so many times in the past). a drop below 1180 could change my opinion. it reminds me a little of the dubai "crash". everybody thought that's it, we are going down, but in fact it was a golden opportunity to get long again.

so the question is, what will the professionals do?

so far I like my "1180" a little better than jeff's scariest chart. think the low was 1179.75

yeah sometimes those patterns like jeff's wedgie just don't work.

wonder if we test that 1220 area after creating that triple top? oops another one of those patterns.

Attached Thumbnails
Click image for larger version

Name:	ES 06-10  4_23_2010 (60 Min).jpg
Views:	190
Size:	233.1 KB
ID:	11933  
Started this thread Reply With Quote
 
(login for full post details)
  #20 (permalink)
canada
 
Experience: Intermediate
Platform: Ninjatrader
 
qewcool's Avatar
 
Posts: 45 since Apr 2010
Thanks: 25 given, 15 received

where did you find the PnF in indicator/type chart ? can you post the link ?
cant find it in the download section.


Thanks

Reply With Quote
The following user says Thank You to qewcool for this post:
 
(login for full post details)
  #21 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received


qewcool View Post
where did you find the PnF in indicator/type chart ? can you post the link ?
cant find it in the download section.


Thanks

look at post # 13. there's a link where you can download the PnF bars.

Started this thread Reply With Quote
The following user says Thank You to Silvester17 for this post:
 
(login for full post details)
  #22 (permalink)
Los Angeles
 
 
Posts: 11 since Apr 2010
Thanks: 17 given, 2 received


Silvester17 View Post
1.) the PnF bars are helping to find a breakout

2.) it's difficult to see here. the trend was still up, but the down volume started to increase.
sign of possible reversal

3.) the VWTPO is a good indication for a pullback

What kind of a fib pullback? 38% 50% 62%?

Reply With Quote
 
(login for full post details)
  #23 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received


Bamizo77 View Post
What kind of a fib pullback? 38% 50% 62%?

sorry, I don't use any fibs.

Started this thread Reply With Quote
 
(login for full post details)
  #24 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received

nice action today. but what is the next target? another leg down, or a rebound? normally that kind of news would be a terrific buying opportunity. the day greece and portugal entered the eu, you knew there could be trouble. so that shouldn't be a big surprise.

since we reached more or less the mentioned 1220 area (think 1217 was high), I would take a neutral position for now. from a technical view it looks pretty bearish. from a fundamental view still very bullish.

who knows, maybe the fed has some interesting news on wednesday.

Started this thread Reply With Quote
 
(login for full post details)
  #25 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received

has been a while since I've seen that kind of 5 min candles. 3 in a row with a range of about 40 points. very impressive.

a real paradise for trading.

Attached Thumbnails
Click image for larger version

Name:	ES 06-10  5_6_2010 (5 Min).jpg
Views:	84
Size:	81.4 KB
ID:	12951  
Started this thread Reply With Quote
 
(login for full post details)
  #26 (permalink)
san ramon
 
Experience: Beginner
Platform: ninja
Broker: zen
Trading: es, 6e
 
Posts: 136 since Oct 2009
Thanks: 98 given, 76 received

I've followed Jeff Clark's market view for some time and he seems pretty accurate with his market analysis ...... (post #16) ....... now, let's wait for our think tank to come up with some awesome reason why this correction occurred ..... oh, wait a second, they already did .... it is a trader error ...... wooooow ......

Stock selloff may have been triggered by a trader error - Yahoo! Finance

Reply With Quote
 
(login for full post details)
  #27 (permalink)
Near the BEuTiFULL Horse Shoe
 
Experience: Beginner
Platform: NinjaTrader
Broker: MBTrading Dukascopy ZenFire
Trading: $EURUSD when it is trending
 
Trader.Jon's Avatar
 
Posts: 500 since Jul 2009
Thanks: 401 given, 183 received

Wonder if that trader will ever trade again .... "lookout here comes the guy with the golden fingers"

Reply With Quote
 
(login for full post details)
  #28 (permalink)
Europe
 
Experience: Beginner
Platform: NinjaTrader
 
Posts: 73 since Jun 2009
Thanks: 11 given, 53 received

i find it hard to believe this was caused by one single trader.


Reply With Quote
 
(login for full post details)
  #29 (permalink)
Australia
 
Experience: Intermediate
Platform: NT
 
Posts: 106 since Apr 2010
Thanks: 48 given, 84 received

Of course it wasn't. That rumour started the rounds within 30 minutes of the crash, how would anyone have known by that time. In anycase it was reported to be Citigroup who made the error and they have denied it and investigations have also not found any such error or out of the ordenary trading.

Now the new excuse is 'computer glitch' and they are investigating what the glitch may have been. So it's now a computer glitch, but they don't know what glitch it was. Sounds like the 'glitch' of panicing robots to me. Or maybe it was a some just a bunch of fat cat bankers all shorting the hell out of the market while they knew it was vunerable.

It's just spin to try to put confidence into the market that the bubble didn't burst. 95% of traders know its spin, but it dosn't stop it from becoming the headline that the average person / investor sees on the news ' Computer Glitch Causes Crash', 'Dumb thumbs cause crash' etc etc.

It really annoys me !

Reply With Quote
 
(login for full post details)
  #30 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,758 since Jun 2009
Thanks: 32,301 given, 97,528 received

To me, it boils down to this:

Retirement account = gold bars, safes full of cash, lots of guns

Day trading account = more volatility = good, regardless of why

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #31 (permalink)
Southern California
 
Experience: Intermediate
Platform: NinjaTrader
Trading: TF
 
randyjb's Avatar
 
Posts: 70 since Jun 2009
Thanks: 479 given, 32 received

Hmm.. well as the Retirement Account goes.. by the time you need that gold, the gobs of cash in those safes will only be useful as wallpaper and you will undoubtedly need every one of those guns and more when the starving hordes find out you have that gold.

My guess is that before it all gets to that.. our government in its "infinite wisdom" (yes, a total crock) will once again confiscate our gold should the time ever come for us to depend upon it for our economic survival.

Long before any of that comes into play, our Government will pass a VAT tax to temporarily assure a kitty to support their profligate spending habits, they will institute new "means" tests that will exclude all but the very poorest seniors from drawing upon their Social Security and/or Medicare benefits and they will effectively steal the $15 trillion of our retirement balances in 401k and IRA accts., etc. via new Government Annuities, as they strip all other competing retirement investments of their tax deferral status to assure conversion into their government coffers.

It's going to be one long and rocky road from here to there and frankly, life as a trader, despite the lack of fair or level market access by all participants, is still quite enjoyable in comparison.

Reply With Quote
 
(login for full post details)
  #32 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received

earlier we got to see the scariest chart of the week. now we can see the scariest chart of the year.

please understand you're watching on your own risk. you might get sick looking at those charts.

Attached Thumbnails
Click image for larger version

Name:	2010-05-19_2128.png
Views:	149
Size:	393.1 KB
ID:	13836   Click image for larger version

Name:	2010-05-19_2128_001.png
Views:	127
Size:	362.0 KB
ID:	13837   Click image for larger version

Name:	2010-05-19_2131.png
Views:	113
Size:	399.2 KB
ID:	13838   Click image for larger version

Name:	2010-05-19_2131_001.png
Views:	116
Size:	416.0 KB
ID:	13839   Click image for larger version

Name:	2010-05-19_2132.png
Views:	113
Size:	404.2 KB
ID:	13840  
Started this thread Reply With Quote
The following 4 users say Thank You to Silvester17 for this post:
 
(login for full post details)
  #33 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,758 since Jun 2009
Thanks: 32,301 given, 97,528 received


Silvester17 View Post
earlier we got to see the scariest chart of the week. now we can see the scariest chart of the year.

please understand you're watching on your own risk. you might get sick looking at those charts.

Interesting charts. What are you using to generate them?

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #34 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received


Big Mike View Post
Interesting charts. What are you using to generate them?

Mike

sorry I didn't make those charts

the charts were created by professionals, not by a ..... like me.

Started this thread Reply With Quote
 
(login for full post details)
  #35 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received

according to some "wisdom", we are only hours away from the "crash". normally a good day for such an event is Friday.

I think a good point to consider this scenario is when we take out the recent low (around 1050 in ES).

a good strategy in this case would be to concentrate more on pullbacks. imo a very good method is in the jeff cci thread.

Started this thread Reply With Quote
 
(login for full post details)
  #36 (permalink)
wny
 
Experience: Intermediate
Platform: ninja, excel
Trading: YM, equities
 
darthtrader3.6's Avatar
 
Posts: 86 since Jan 2010

This has just been a needed correction. My bro in law had already taken leave of his senses on risk and was mad in march that he was "only" up 5% in the first quarter after the huge gains a monkey could have made in 09.
10k DOW will be another gift from the risk gods for all our long term accounts.

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #37 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received

approaching flash crash level (1056). going to be another interesting day. the conditions are almost too perfect for a real bloodbath. I think volatility might not be a problem today. happy friday.

Started this thread Reply With Quote
The following user says Thank You to Silvester17 for this post:
 
(login for full post details)
  #38 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received

right about the open of RTH market dipped below the flash crash level. but didn't spend any time at all and got rejected. followed by a huge run up. another positive sign was the strong up move into the close. those two factors are normally bullish signs. but for me the outlook remains uncertain.

Started this thread Reply With Quote
 
(login for full post details)
  #39 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received

when I started this thread I was hoping someone would make a certain statement. well it never happened. but I found the statement I was looking for in another forum:

"Most people are influenced by others way too easily

Can you just see the idiots, sitting at their little desks, with their Bloomberg Terminal, and the latest streaming news, changing every fraction of a second

They are all a bunch of Dumb Ass Traders, and, if you think that any of them are going to show you how to make some real good money trading, with your own accounts, then FORGET IT

They are like the production line, little robots sitting there and hitting little buttons when they see what they have been shown to see

You need to get this so-called "Professional Trader" status out of your mind, for, there is no such thing, for, the majority are just like trained little puppies that do EXACTLY what they are told, and long may they continue

And, I AM VERY SERIOUS, no kiddin"


I can only say bravo. you would be surprised how many professional traders actually lose money. of course there are some with huge profits, but they have something you don't have. it's called "FRONT RUNNING" and or "Connections". yes trading is that easy.

Started this thread Reply With Quote
 
(login for full post details)
  #40 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received

what is it going to be?

yesterday we had a strong rally after fomc. but got rejected fast. then overnight and early this morning the market tested 1140 again and failed.

market also tested support area around 1130 several times and so far it was holding. right now we are at that level.

so where is the market heading?

Attached Thumbnails
Click image for larger version

Name:	ES 12-10  9_22_2010 (10 Min).jpg
Views:	89
Size:	80.8 KB
ID:	20548  
Started this thread Reply With Quote
 
(login for full post details)
  #41 (permalink)
san ramon
 
Experience: Beginner
Platform: ninja
Broker: zen
Trading: es, 6e
 
Posts: 136 since Oct 2009
Thanks: 98 given, 76 received

if I was to guess, I would say a bit of range trading before it goes lower .... some other opinions you may have heard already

10 Things Making Me Nervous | The Big Picture

Reply With Quote
The following user says Thank You to zikonc for this post:
 
(login for full post details)
  #42 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,758 since Jun 2009
Thanks: 32,301 given, 97,528 received


Silvester17 View Post
what is it going to be?

yesterday we had a strong rally after fomc. but got rejected fast. then overnight and early this morning the market tested 1140 again and failed.

market also tested support area around 1130 several times and so far it was holding. right now we are at that level.

so where is the market heading?

I would say if we cant break 1134-1136 to the upside, then the market will rollover and move lower.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #43 (permalink)
Market Wizard
Columbus, OH
 
Experience: None
Platform: NT 8, TOS
Trading: ES
 
Silvester17's Avatar
 
Posts: 3,578 since Aug 2009
Thanks: 5,062 given, 11,358 received

here's a pretty good description about program trading with the current values.

Program Trading, Fair Value, Index Arbitrage Values - indexArb.com

Started this thread Reply With Quote
The following 2 users say Thank You to Silvester17 for this post:
 
(login for full post details)
  #44 (permalink)
Philly, Pa
 
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
 
tigertrader's Avatar
 
Posts: 6,255 since Jul 2010
Thanks: 6,574 given, 34,953 received


Silvester17 View Post
here's a pretty good description about program trading with the current values.

Program Trading, Fair Value, Index Arbitrage Values - indexArb.com


You can keep track of primo with PRSP.Z, which represents the cash price of the S&P 500 Index subtracted from the price of the nearby S&P futures contract.

Follow me on Twitter Reply With Quote
The following user says Thank You to tigertrader for this post:
 
(login for full post details)
  #45 (permalink)
Ill.
 
 
Posts: 11 since Nov 2010
Thanks: 1 given, 3 received

If you're looking for a more fundamental approach, theres always the Commitment of Traders report that comes out every week. Its utility all depends on your time horizon. I like to look at it so i can understand what certain types of traders are doing, especially for agricultural products.

Reply With Quote


futures io Trading Community Traders Hideout > follow the professionals


Last Updated on January 31, 2011


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Journal Challenge w/$1500 prizes from Topstep!

February
 

Battlestations! Show us your trading desk - $1,500 in prizes!

March
 

Call Option Buying: The New Pain Trade? w/Carley Garner

Elite only
     



Copyright © 2021 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