short term after the ramp up, price got a bit extended, as you
can see on this chart of a 20, 15, 10 min ES, tagged R2 with some
dojis and wide MACD/BBs
Posted by frtaylor on 28th of Oct 2015 at 01:45 pm
Yes, divergence would be better, esp counter trend. Hadn't
thought about the counter trend factor. As a paper trade, I was
just following Matt's setup as given in the tutorial. At some point
I'd like to look back through the setups to see if filtering for
divergence would improve the overall profitability (Matt, have you
done that?). a_i, as far as pre-FOMC, that's true, it's not a time
for big moves, especially down; however, the chart set up once
again about two hours ago and the trade was a winner (wasn't here
to take it of course). We're only talking about 2 pts here. There
was a tiny divergence on that one.
I really appreciate both of you commenting - you've been trading
for so long, and always have good ideas and points. There is so
much to think about in any trade setup.
Try to paper trade simulating real money as much as possible.
Setups don't work as well during lunch because it doesn't take as
much volume to push price against patterns easily; even if they
work, it's after hitting your stop more often. But especially
when the market has made a move and then is going to wait for news,
there's no setup I would take. The best trades today were early on
opening range breaks.
ES futures
Posted by matt on 28th of Oct 2015 at 11:19 am
short term after the ramp up, price got a bit extended, as you can see on this chart of a 20, 15, 10 min ES, tagged R2 with some dojis and wide MACD/BBs
I took a paper trade
Posted by frtaylor on 28th of Oct 2015 at 12:47 pm
I took a paper trade on the 15 min, but got stopped out. Perfectly good setup, though.
After the move & during
Posted by a_l_ on 28th of Oct 2015 at 01:02 pm
After the move & during the doldrums -- and so close to the FOMC news? Absolutely no trading zone.
yes, but perhaps it would
Posted by zenman on 28th of Oct 2015 at 12:50 pm
yes, but perhaps it would be better to wait for negative divergence when taking a counter trend trade.
Yes, divergence would be better,
Posted by frtaylor on 28th of Oct 2015 at 01:45 pm
Yes, divergence would be better, esp counter trend. Hadn't thought about the counter trend factor. As a paper trade, I was just following Matt's setup as given in the tutorial. At some point I'd like to look back through the setups to see if filtering for divergence would improve the overall profitability (Matt, have you done that?). a_i, as far as pre-FOMC, that's true, it's not a time for big moves, especially down; however, the chart set up once again about two hours ago and the trade was a winner (wasn't here to take it of course). We're only talking about 2 pts here. There was a tiny divergence on that one.
I really appreciate both of you commenting - you've been trading for so long, and always have good ideas and points. There is so much to think about in any trade setup.
Try to paper trade simulating
Posted by a_l_ on 28th of Oct 2015 at 02:10 pm
Try to paper trade simulating real money as much as possible. Setups don't work as well during lunch because it doesn't take as much volume to push price against patterns easily; even if they work, it's after hitting your stop more often. But especially when the market has made a move and then is going to wait for news, there's no setup I would take. The best trades today were early on opening range breaks.
Well said.
Posted by frtaylor on 28th of Oct 2015 at 02:13 pm
Well said.