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Bill et al,
Not bad for a first attempt.
Many have tried to square charts without much success but that is the
starting point in all of this. If your chart isn't square the Gann Fan
angles are likely to be off. That is why I developed a method for squaring
the chart that I have talked about previously on real traders. The article
is available from TASC {Dec. 99}. However if you don't want to get the
article from TASC you can get a 45-degree angle and play with it yourself.
Keep changing the scale until the data is in a one to one proportion. If the
angles begin to make sense then you are getting close. I've been at this for
years now, so it takes some time to learn. Reading some Gann is also
helpful.
The bonds have been more difficult to chart than most. I guess it's because
of the 32nds or something. It doesn't help that they changed to the other
contract either, but that is a reality to be dealt with.
I do think about Elliot Waves when looking at the charts but they are not
the primary factor in the use of Gann Fans for me.
As to what the bonds will do in relation to the S&P or vice versa, sorry but
that is really out of my realm of expertise. Although the Fans can be used
intra day they are much more difficult to work with, so I don't do it
anymore.
As for what to do, I stay with the channel until it is broken and some short
term indication of a trend is established. As always, I try to cut my losers
short and let my winners run whether I'm using options or not.
Prosper
> Brente has got me going on fiddling around with a Gann Fan and in a
totally amateur way I have added what look to me to be four waves from the
Contract Low. While I am sure that much more science and understanding of
EW is required here, would anyone care to give their opinions on where the
market is at and where it is like to go from here?
I am sure that in a month or so we will be able to look back and say it was
all very obvious, but at this precise moment, it seems to me, that we are at
a very interesting juncture and I would much appreciate anyone's foresight
or take on this. As you all know, I day trade and have never been able to
see where one goes on a position trade - but this might be the opportunity
to focus on what's what in the predictive world. If it was a five minute
chart, I would be short from the top to at least the bullish retracement
line and (on that scale, of course) easy come easy go about changing
direction or continuing south. But with a position play I sure would need
to know where my stop was against what target and the r/r/r involved.
> Anyway, I'll be interested to see if anyone responds. I would genuinely
like to get a lesson here, if I could....
> Of course, the first thing is to hope that the Gif file will come out....
please, someone, let me know...
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