I had thought that indicator questions would have come up way sooner. I am happy that they come up now and happy that it took a while.
I will answer the indicator questions and describe my view as best I can.
I do not generally respond well to "send me all your indicators and settings". I view that as sort of rude...sort of like "can I have sex with your wife". Also, sending out indies and settings with out a specific understanding of how they are applied and interpreted is like giving the suicidal man a loaded gun and a bottle of bourbon.
That said, one of the reasons to start the journal was to have someone offer to help me with my indicators. I am a mess in that regard and most of my display is not exactly how I would like it. The indicators are a visual landmark that might suggest things to a discretionary trader. I'm not a strict rules method guy. The so called "indicator groupies" just want to conform my view to what their expectations are...that will never work.
Someone asked about what MA's I view. On the template that I have been displaying here the only MA visible is the 200 period EMA...it is the red, green, yellow line. I've been contemplating removing it actually, but I will post later how I view it and why it stays for now after my son's baseball game.
Would it be helpful for me to go through the indicators and how/why I am viewing them? I guess I never actually gave a run down of this price pressure template...would that be helpful? DB
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is that the market will continue to be driven by news flow related to the European debt crisis. This morning I heard a story...."according to analyst at JP Morgan", really? Now there is insight that I want to trade off of because that is easier than burning money in an open pit or raking the money tree orchard in the fall..."according to JP Morgan"...good one!
Did anyone notice last Friday the commitment of traders...shorts up to roughly 216 fro 194...notional value short is now 34.3 bln...that is huge my friends.
Also did anyone see the spread between the ten year Spanish bond and the German Bund...this is a fresh Euro era wide...so the spread between the nation paying the bill and one of the bailed out is at an all time wide...hmmn So how long are the Germans going to be willing to pay higher taxes and work into their late 60's to support the Spanish and the Greeks, the later of whom will riot if they have to work past 53.
The 10 am EST options cut looks to hang around the well touted level of 1.2450.
Now the latest polls in Greece say the leftist (Syrza) non bailout folks are ahead...different from just two days ago.
News driven, so guess right and don't do an idiot thing. Summarize as follows:
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