|
PureBytes Links
Trading Reference Links
|
The differences probably would have been instructive and illustrative if
your charts and comments had been posted in real-time as were mine.
Those highlighted ovals with trades taken always seem to appear after
the fact.
Earl
----- Original Message -----
From: "T-Bondtrader" <t-bondtrader@xxxxxxxxxxxxx>
To: <eadamy@xxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, June 05, 2000 10:26 AM
Subject: Re: [RT] Re: Bonds (Bull Wedge)
> I hope this banter between Earl and myself is yielding something for
> somebody! We clearly have very different day trading concepts.
Firstly, I
> have never used a 10 minute chart to trade off, although obviously I
use
> bigger time frames for confirmation. I cannot say much about moving
> averages, as I don't use them - like indicators, for day trading they
are
> all lagging after the event.
>
> But I do use the price action of the Spoo to help me when other things
are
> not equal! Look at the chart and you will see that the 50 retracement
came
> back to that pivotal support and could not break through - then the
S&P put
> in an electric bar for us to get long. If you look closely you will
see the
> bonds were totally wrong footed. We had all the world of time to act.
It
> then rose, like a 'towering bird' (if you know the expression?) and
formed a
> slightly extended double top. So we are short again and the S&P is
> rallying with a nice big bar to keep us that way... Our stop is, of
> course, behind DBYH... and we may well get down to the intraday low,
break
> it and have a lovely ride south. If we don't, we have put bread on
the
> table - but it is nice to speculate that some jam might come along...
>
> As you can see, I like a very simple style. I just can't work out
things
> within things and what the locals are doing because, etc, etc. I
think day
> trading demands a clear and simple approach. It is price action that
> rules - very much including the Spoo's (as an 'indicator' I will
use!!)
|