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RT's;
I think time of day is one of the most critical elements of finding good
trades in the SPoo's. The liquidity is there in the first hour and 1/2 and
ususally the pit starts filling in again around 2 to 2:30 est.
I used to sit there ALL day watching the market. I felt I MUST put in a
"full" day. An very successful experienced trader pointed out the problem
with this compulsion... boredom (leading to initiating trades that shouldn't
be taken for the reason of "If I'm sitting here I should be trading")
burnout (reducing concentration levels during times of day when you should
be most focused), and frustration (caused by watching random moves/trends
that you miss but don't fit your trade criteria to begin with).
I also believe that Market Profile helps in identifying the type of day from
the opening tick through watching the development of value areas and daily
range.
Howard
>From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
>Reply-To: realtraders@xxxxxxxxxxxxxxx
>To: <realtraders@xxxxxxxxxxxxxxx>
>Subject: Re: [RT] Fri aftn
>Date: Fri, 27 Jul 2001 14:21:04 -0500
>
>Thanks Earl
>
>That's a good one, reminds me of when I was learning to fish commercially,
>something I did by buying a fishing boat and discovering all the mistakes
>it's possible to make in the world's oldest profession. It was a matter of
>years before I discovered the mechanism by which I could drive around and
>avoid the schools of fish. Now that I know what to look for it is easier to
>find them.
>
>I am pretty good at avoiding good trades in the same way; I trust my
>"dogged
>perserverence" will eventually train me to troll into the good ones, which
>phrase was triggered by your barking dog.
>
>
>
>
>----- Original Message -----
>From: "Earl Adamy" <eadamy@xxxxxxxxxx>
>To: <realtraders@xxxxxxxxxxxxxxx>
>Sent: Friday, July 27, 2001 14:07
>Subject: Re: [RT] Fri aftn
>
>
> > My comment brought something else to mind which might be worth sharing.
>When
> > I have my data feed running and I'm sitting there watching it, my
>instincts
> > are akin to a beagle ... if something moves it's time to bark and hunt.
>I
> > refer to it in my trading notes as "Barking Dog" syndrome and is the
>number
> > 1 item in my list of losing habits. I find that aside from self control,
>not
> > watching the market when it's wandering is a good cure.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > To: "Realtraders" <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Friday, July 27, 2001 1:00 PM
> > Subject: Re: [RT] Fri aftn
> >
> >
> > > The trading day was likely over on the failed weak attempt to punch
> > through
> > > overhead resistance and reach 1221. I shut down my feed rather than be
> > > tempted by some false breakout from the chop .... market will still be
> > there
> > > Monday.
> > >
> > > Earl
> > >
> > > ----- Original Message -----
> > > From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Friday, July 27, 2001 12:50 PM
> > > Subject: [RT] Fri aftn
> > >
> > >
> > > > I'm not much of a tape reader, but I am getting the impression that
> > there
> > > > are lots of people wishing the bell would ring right now.
> > > >
> > > >
> > > >
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> > > >
> > > >
> > > >
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> > > >
> > > >
> > >
> > >
> > >
> > >
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> > >
> > >
> > >
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> > >
> > >
> >
> >
> >
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> >
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> >
>
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