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Beth's Journey to Make Her Millions
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Beth's Journey to Make Her Millions

  #1031 (permalink)
Market Wizard
virginia
 
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wgreenie View Post
I...

You can tell they're mostly volume or trend-related indicators. ..

Beth

bottom line, a) vol increases and price advances (up/down) = normal nothing to worry about.
b) vol increases and price doesnt advance = abnormal, time to pay attention.

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  #1032 (permalink)
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Fat Tails View Post
Hi Beth,

no enlightenment here. I am currently looking at different types of overnight ranges, just trying to identify what makes sense. I am not a savant, just putting up this question.

If I look at the different sessions, this is what comes to my mind:

4:15 PM to 6:00 PM Est After-Session, influenced by US news releases after the close
6:00 PM to 1:00 PM Est Asian Session, starts with Tokyo Open
1:00 AM to 7:00 AM Est European Session, influenced by European markets, starts with Eurex Open
7:00 AM to 9:30 AM Est Pre-Session, influences by US news releases and expectations

Your values come from all four sessions. The question is whether you look at European Session and Pre-Session separately.

For today this made sense, as the European Session low was an important pivot which acted as resistance, see chart attached. The pre-session only anticipated some of the price action which took place after the open.

Thanks Fat Tails for your prompt enlightenment! Yes, it's definitely an enlightenment for me and your tips are eye-opening .. I don't know about them until now. I have written them down on my VI log + will study the chart, ie will try to prepare one matching yours to better understand the sessions. At this point, not 100% clear ..

Oh, a quick question please. When reading different threads/posts, I came across a trade idea "AsianBox Breakout Trade". Draw horizontal lines at High and Low of the Asian Session (between 3:00 am and 4:30 am EST) and trade in the direction of the box break. Appreciate your experience on the same please. Thank you in advance.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1033 (permalink)
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cory View Post
bottom line, a) vol increases and price advances (up/down) = normal nothing to worry about.
b) vol increases and price doesnt advance = abnormal, time to pay attention.

Thanks Cory for your tips. I notice you're the creator of many .. many volume indicators (incl many other kinds). I've to confess that I have a "Big" head trying to understand most of them. Right now I will stay with the Volume Stop one which is almost the only one that I understand .. sigh ..

Oh, regarding volume increases, do you compare the existing one with the previous bar? If not, will you mind giving me a crispy education session please?

When I tripped over some amazing indicators, I used to be really overwhelmed (lots of excitement). Now I simply realize my ignorance for not understanding most of them .. certainly will not benefit from their addition to the charts except for a "more beautiful" appearance.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1034 (permalink)
 Vendor: www.ezcolortrading.com 
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2 more practice trades

With more practice, I'm getting close to identify my preferred trading time incl when NOT to trade. 2 more with the last (third) one breaking the 595.70 Resistance while the second one aligned with Method 1. Will stay with 12 ticks (first trade) for the official record since 1 1-contract trade/day is the guideline.

Now I will tackle some non-trading issues before studying Fat Tail's chart and prepare my version .. smile ..

Continue enjoying your day.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-2-more-practice-opps.jpg   Beth's Journey to Make Her Millions-tf-09-10-8_24_2010-15-rangealt-.jpg  
 
  #1035 (permalink)
Market Wizard
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wgreenie View Post
..
Oh, regarding volume increases, do you compare the existing one with the previous bar? I..

Beth

yes, I don't have any complicated formula or hard to follow theory for example since I wake up at 7 Am NY time every day, my over night range is always from 4:15pm previous day til 9:30 am today for any kind of contract.

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  #1036 (permalink)
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cory View Post
yes, I don't have any complicated formula or hard to follow theory for example since I wake up at 7 Am NY time every day, my over night range is always from 4:15pm previous day til 9:30 am today for any kind of contract.

That's a Swift and Crispy education session .. Thanks Cory! Oh, simple enough for me to understand LOL!

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1037 (permalink)
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Beth

Thank you for your fantastic journal and your super positive perspective.

Trading can be a lonely endeavor, but there is some comfort in knowing that we all share experiences and similar journeys on our path to millions.

Keep up the great work. I hope to start my journal in the near future.

My best,
Dennis

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  #1038 (permalink)
Market Wizard
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wgreenie View Post
That's a Swift and Crispy education session .. Thanks Cory! Oh, simple enough for me to understand LOL!

Beth

you build your own universe so that you can rule it. example CANSLIM people build their CANSLIM universe any thing outside their universe just doesnt exist.

The following user says Thank You to cory for this post:
 
  #1039 (permalink)
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cory View Post
you build your own universe so that you can rule it. example CANSLIM people build their CANSLIM universe any thing outside their universe just doesnt exist.

More goodies from Cory .. haha .. I just google CANSLIM and will read the following once I recover from my "research" overdose:

Stock-Picking Strategies: CAN SLIM

Beth (grateful)

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1040 (permalink)
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wgreenie View Post
Thanks Fat Tails for your prompt enlightenment! Yes, it's definitely an enlightenment for me and your tips are eye-opening .. I don't know about them until now. I have written them down on my VI log + will study the chart, ie will try to prepare one matching yours to better understand the sessions. At this point, not 100% clear ..

Oh, a quick question please. When reading different threads/posts, I came across a trade idea "AsianBox Breakout Trade". Draw horizontal lines at High and Low of the Asian Session (between 3:00 am and 4:30 am EST) and trade in the direction of the box break. Appreciate your experience on the same please. Thank you in advance.

Beth

OK. Have never heard about that Asian Box before. But this is what it is all about:

Volatility during the Asian session is generally low. European markets wake up at around 8:00 CET (Central European Time). This is the opening of EUREX and the London Forex Market. When these markets open you can trade an opening range breakout.

The Asian Box concept can not be applied to US Index Futures, because American markets are still sleepign at that time. In the early morning you would rather want to trade FDAX or FESX, because volatility is higher. The Asian Box concept is best suited for trading the EURUSD, GBPUSD and USDCHF or the currency futures 6E, 6B and 6S. For obvious reasons these are not traded in Asia. Volatility picks up after 8:00 CET, but still remains moderate. The highest volatility for the currency pairs will be found during the New York / London overlap, which is shortly after the New York open.

You also can trade Asian Box breakouts with CL, as the International Petroleum Exchange in London (now part of ICE) has oil futures (Brent Crude, Gasoil) trading. There is no major oil exchange in Asia.

Session time for Asian session: from the New York Close until 2:00 AM EST.

Below is a chart for 6E that shows the Asian boxes and the volatility breakouts, which occur afterwards. Sometimes you have to wait a few hours for the breakout to occur. Also note the false breakouts.


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Last edited by Fat Tails; August 24th, 2010 at 03:50 PM.
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