Q1 GDP at 8:30. Prepare for volatility and use it to position properly.
Ask High and Ask Low Indicator 1 reply
DRT's Trading Room 16 replies
Price on charts vs. Bid and Ask price 1 reply
Bid or ask? 3 replies
DislikedTHAT IS WHAT I AM WAITING FOR. i have not been feeling well lately and i have been needing extra sleep. i missed the move up last night, but i am looking for movement today.
do you have an idea where the market will go after the gdp release, or will the details make that a bit more difficult call until all the info gets out?? then there is jobless claims tomorrow, so we may get some whipsaw action.
i have work to deal with around 9 til early afternoon, so i will miss the euro close and most of the u.s. session, but i intend to do some trading the rest of taoday and tomorrow. i would appreciate your calls for the asain and euro sessions for tomorrow. i would also like to be able to set up the charts you use. is the setup and the site you use in the first page of posts???
thanksIgnored
DislikedNAA Open revisions...
If you are already in a trade, use these levels as your targets. Otherwise, play these levels either long or short and target the other level. Enter at whichever the market gives you first.
E/U - BIAS DOWN
EURO HAS BALANCED YESTERDAY'S DOWN GOAL OF 5564
Short - 5620
Long - 5502
G/U - BIAS DOWN
RISK - CABLE HAS NOT FILLED YESTERDAY'S UP GOAL AT 9853
SHORT - 9795
LONG - 9651
U/J - BALANCED
YEN HAS NOW FILLED YESTERDAY'S UP GOAL AT 105.34
SHORT - 105.20
LONG - 104.48
U/C - BIAS DOWN
SHORT - 1.0444
LONG - 1.0330Ignored
DislikedNAA Open revisions...
...
G/U - BIAS DOWN
RISK - CABLE HAS NOT FILLED YESTERDAY'S UP GOAL AT 9853
SHORT - 9795
LONG - 9651
Ignored
DislikedDo you think markets trend most of the time or do you think they range trade most of the time? While this may sound like a simple question on the surface, it is not and understanding the answer can be a key to your success in taking profits from the market. I read a study once that analyzed this question and I was shocked when I saw the results.
Markets only trend about 6% of the time, the rest of the time is used to build value or range trade. So 94% of the time markets, all markets, are ranging between accepted value. The exact percentages are not important here. The conclusion is the important part - Markets rarely trend. Don't take my word for it. Set up a study of your own and draw your own conclusions. Think about it this way...there are thousands of traders in your market and for the market to trend on any given time period the majority of those traders have to be thinking the same way. What are the odds that this will occur?
Why is this piece of knowledge critical? If you are designing a trading methodology do you think it is more advantageous to design a method that capitalizes on range trading or one that is designed to catch trends? There is no right answer, but for me there is much more profit in being good at identifying ranges. Most importantly, I "expect" markets to range, not trend. I find I am right more often than not and this has helped me greatly over the years to have a successful business.
So practice identifying ranges in the time frame that suits your style. This is why I focus on price distribution. It is my edge and allows me to exploit what other traders do not know yet.
I expect my markets to range trade. If they trend, I am wrong. 9 times out of 10 I am right. Something to think about.Ignored
DislikedDRT for those who got short at 105.37 in usd/yen ..where would you put a stopIgnored
DislikedDo you think markets trend most of the time or do you think they range trade most of the time? While this may sound like a simple question on the surface, it is not and understanding the answer can be a key to your success in taking profits from the market. I read a study once that analyzed this question and I was shocked when I saw the results.
Markets only trend about 6% of the time, the rest of the time is used to build value or range trade. So 94% of the time markets, all markets, are ranging between accepted value. The exact percentages are not important here. The conclusion is the important part - Markets rarely trend. Don't take my word for it. Set up a study of your own and draw your own conclusions. Think about it this way...there are thousands of traders in your market and for the market to trend on any given time period the majority of those traders have to be thinking the same way. What are the odds that this will occur?
Why is this piece of knowledge critical? If you are designing a trading methodology do you think it is more advantageous to design a method that capitalizes on range trading or one that is designed to catch trends? There is no right answer, but for me there is much more profit in being good at identifying ranges. Most importantly, I "expect" markets to range, not trend. I find I am right more often than not and this has helped me greatly over the years to have a successful business.
So practice identifying ranges in the time frame that suits your style. This is why I focus on price distribution. It is my edge and allows me to exploit what other traders do not know yet.
I expect my markets to range trade. If they trend, I am wrong. 9 times out of 10 I am right. Something to think about.Ignored
DislikedI am very interested in your method, but I, as of yet, can't say I understand. When you say "market trends", do you mean prices move? I don't understand what you mean by market rarely trends because I see the prices move all the time, by the second. As an example, today eurusd moved about 150 pips between its high and low. Do you refer to the day-to-day movements? If the market doesn't trend, the pairs would be remaining in the same place or within very narrow ranges, which is obviously not true.
If I want to follow your method, where do I find the information on the volumes you are talking about, in order to predict the balancinig points.
Thanks in advance.
scyangIgnored
DislikedTo me (and it is different for you) I mean sustained moves out of established ranges. Yes the range is large, but I play the range both ways.
Again, I trade futures on the CME Globex platform. I pay for the data.
You can visit www.cme.comIgnored