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There's nothing like a slow chart with fast indicators to let you know where the chop is.
On the first trade you'll notice that price retested the point it broke from at the open.(perfect 50% fib retrace....ok 1 tick off) The third trade was countertrend as price broke the recent swing low. On the last trade I have my ZN atm strategy on by mistake so I got +3 and followed with the correct atm strategy and got +10.
One trade on ZN today......it hit my target 4 times without filling the order. ZN is very difficult for me to trade. I don't know how Sharky does it.
So here's my latest theory......trade the open of 3 markets.......the pit for ZN opens at 5:20 PST there is usually a good trade right out of the gate.....then the open for CL is at 6:00 PST also usually a good trade right out of the gate......then the cash open for the indexes at 6:30 PST......and again usually a good trade close to the open.
Has anyone else observed this? Just curious if there are others who have noticed this.
You are correct about the hours and the moves.
It seems we take, or should we say, see the same trades with different setups or charts.
Maybe it's true, there's only one way to trade, following price movement...
Price can only get up, down, or doing nothing at all.
If you follow that, you do fine, know when to trade is even important as how to trade.
PS: I like your "slower" charts, that means your are an advanced trader.
there's no best time to trade. chop time starts when market opens and ends when market closes. many are saying not to trade through lunch. look at today's ES high. made at 12:37. yes it went sideways from 11:43 to 12:06. but for me sideways is not chop. chop happend at 10:13 and 10:32. one more hint. it's the retail trader that takes lunch breaks. the pros are eating sandwiches at the desk.
slower charts or faster charts don't matter. they're making new highs and lows exactly the same time. the only difference is your risk tolerance. too bad TRO ain't here no more.
sometimes it's good to see a different view. I've a lot more. oh and I wonder why 95 % are losing money
Q: What is the "dead zone" and should I leave during this period? [COLOR=#0000ff]distractions page hereA: Lunchtime, dead time, the doldrums or dead zone refers to the trading time which occurs between 11:45 A.M. EST and 1:45 P.M. EST Most professionals are at lunch during this time, often leaving the market flat with no volume. Setups in this time period rarely work out. It's a good time to go get yourself a healthy snack or enter your morning trades in to your journal. We recognize that some of our clients want to be alerted when all signals fire. If we are in the trading room and a trade fires we will call it. But those trades will not be part of our official track record. Please see our dead zone [/COLOR]
Here is a quote from PureTick.com website. You may also look up Trade the Markets, Hubert Senters opinion on time of day and DTI, Tom Busby.....and on and on.
If you want to trade when there is a lack of participation knock yourself out.
A: performance. do you really think they can "afford" to leave the market and have a nice lunch? I can assure you, that business is brutal. I'm not saying you should trade during lunch time, but I'm saying the opening and closing is more difficult. and the other thing those so called gurus are telling you is, do not trade the reports. I admit the order book is empty, but if you know what to look for and are fast enough, easiest way to make money.
