Re: [amibroker] Scalping Using RT Tick Data

["Geo Singleman" <geosing@xxxxxxxxxx>]

Ken,
 
Good luck with the effort. I forgot to mention 
another site you may find useful - especially if you are considering trading 
emini futures. Michael Jardine who runs this site is the author of a book on 
Fibonacci Trading techniques.
 
<A 
href="">http://www.enthios.com
 
I became a profitable trader only after I dropped 
all the indicators, moving averages and other squiggly lines which are all 
dervitives of price. I have got to the point that I can do without charts during 
the trading session. The charts I use are plain vanilla candle charts and 
volume, if available. (eminis do have the volume). I only use straightline tools 
- trend channels and median lines. (I wish I could draw sliding parallels in AB 
- but I solved that problem by using an chart overlay program to draw on AB 
charts). Certain characterstics of price moves and patterns combined with 
behavior of volume (where available) are all that I use in my short term trading 
- most trades within 10 five minute bars. This may be just me, as I know 
successful traders with Ensign charts looking like Picasso's work. My feeble 
brain cannot process more than 1 or 2 variables at a time. Keeping it super 
simple works for me. Anything that made me think and hesitate was fatal to 
the bottomline. :-)
 
Don't get me wrong, as AB is a great TA and 
backtesting tool, you can probably find something that works well for you. It is 
just that in very short term discretionary trading less is more., 
imo.
 
----- Original Message ----- 
<BLOCKQUOTE dir=ltr 
>
  <DIV 
  >From: 
  Ken 
  Henderson 
  To: <A title=amibroker@xxxxxxxxxxxxxxx 
  href="">amibroker@xxxxxxxxxxxxxxx 
  Sent: Saturday, June 26, 2004 07:41 
  PM
  Subject: RE: [amibroker] Scalping Using 
  RT Tick Data
  
  
  <SPAN 
  >Hi 
  Geo
  <SPAN 
  > 
  <SPAN 
  >Thanks for the web 
  sites, they make interesting reading.
  <SPAN 
  > 
  <SPAN 
  >Although I have not 
  traded extensively short term, I tend to agree with you that standard 
  indicators do not work well in this time frame.   I am interested in 
  playing around with some indicators that have come via the AB user 
  group.  I will let you know if I find any that are of 
  assistance.
  <SPAN 
  > 
  <SPAN 
  >Trading tick data is 
  very much a matter of staying focused on the charts and acting quickly that 
  when you believe a trade should be entered or exited with very tight stops. 
  
  <SPAN 
  > 
  <SPAN 
  >Only time will tell 
  whether this is a market that I should trade.
  <SPAN 
  > 
  <SPAN 
  >Many 
  thanks
  <SPAN 
  > 
  <SPAN 
  >Ken
  <SPAN 
  > 


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