8/7/07 Trading Log / Idea Sharing

[AbeSmith]

Hello. Yesterday we had over 2% gain in the Dow. Today we have a fed policy statement at 2:15ET. It will be interesting to see if and how the market reacts.

[btrader2]

GM AbeSmith. Good trading to you and all today! Right now looking for test of Yesterday's VAH or Pivot.

[AbeSmith]

	Quote:	btrader2
	GM AbeSmith. Good trading to you and all today! Right now looking for test of Yesterday's VAH or Pivot.

GM btrader2. Good trading to you also.

[AbeSmith]

Trade 1: +12. First trade using the VBC 5000.

[btrader2]

YM staying balanced up to Fed???

[Nvesta81]

	Quote:	btrader2
	YM staying balanced up to Fed???

Seems like it, Peak Volume Price is snug on VWAP and the price is hovering slightly above and below the VWAP.


I'm starting to sound like Jerry, but the guy is a genius so.

[brownsfan019]

	Quote:	AbeSmith
	Trade 1: +12. First trade using the VBC 5000.

Abe,
Glad to see you are watching and paper trading on the VBC. I assume you are still on paper. You better be.

So, what are your immediate reactions to the VBC? Just curious to hear what you think of a chart the provides opportunities if you pay attention. I haven't looked at a 5000 on the YM, so not sure how that looks in real-time.

[btrader2]

This weekend I plan to dive into those Market Statistics threads. Just haven't had time. But I see compatibility with my style.

[brownsfan019]

The one thing you will need to play with Abe is that volume setting. I pulled up a 5000 YM and that is way too slow for me.

That means nothing to you, point is to play with some other settings as low as 500. It's not going to hurt anything to have a few different VBC's up if you are going to look at them. 5000 appears to be the 'slow' version. I would also look at 2500, 1000, 750 and 500. Obviously the smaller the #, the quicker the chart will respond.

Also, since you are looking at different VBC's, I've also read that some use Fibonacci numbers. I guess I just like round numbers as I didn't see a big difference in a fib number and a round number.

[AbeSmith]

	Quote:	brownsfan019
	Abe, Glad to see you are watching and paper trading on the VBC. I assume you are still on paper. You better be. So, what are your immediate reactions to the VBC? Just curious to hear what you think of a chart the provides opportunities if you pay attention. I haven't looked at a 5000 on the YM, so not sure how that looks in real-time.

Yes Brownsfan. Still paper trading. I plan to paper trade until I'm consistently profitable. Not sure how to define that though.

I'm not sure what to think about VBC. It is new to me. But right now it makes more sense to me than the 5 minute chart.

	Quote:	brownsfan019
	The one thing you will need to play with Abe is that volume setting. I pulled up a 5000 YM and that is way too slow for me. That means nothing to you, point is to play with some other settings as low as 500. It's not going to hurt anything to have a few different VBC's up if you are going to look at them. 5000 appears to be the 'slow' version. I would also look at 2500, 1000, 750 and 500. Obviously the smaller the #, the quicker the chart will respond. Also, since you are looking at different VBC's, I've also read that some use Fibonacci numbers. I guess I just like round numbers as I didn't see a big difference in a fib number and a round number.

Thanks Brownsfan. I will look into the the different volume settings. I'm not sure how to use the Fibonacci numbers. It seems interesting. I understand it is based on a pattern found in nature, and the pattern can also be found in the market. I wonder how often the pattern occurs in the market, and in what market conditions it occurs most often.