notouch

I remember those, especially Prodigy's Breathe. Firestarter is another good one.

Personally I prefer techno, trance, house type stuff like this:

Nowhere near $4 trillion dollars a day exchange hands in the ES. Not even a tiny fraction of that. Where did you get that figure from?

If you trade with a no dealing desk broker like EFX, IB or even (shudder) FXCM then your trades are executed on the interbank market.

I've never seen that incorporated into MP and tick data is not a very reliable indicator of volume.

The problem is there is no volume in forex apart from the futures which is mostly traded in the US session.

Yes because the London value area often comes into play in the following London session. For example if price gaps higher it may test the previous day's VAH. I tried it on a 24 hour time frame and found it quite useless because price during the Asian session in particular just trades in a narrow range with very little volume giving the impression that value is being created in that price area but in reality it's just because so few trades are taking place. Even where there is a trend in the Asian session causing a gap this gap will usually be partially or totally filled.

I use European hours only. The overwhelming majority of currency trading takes place in London so when looking at value it makes sense to look at it from the perspective of London traders.

People were laughing at Cramer at the time but now what he said seems justified.

Brownsfan, they play in stadiums in front of 80,000 spectators and in spite of what you may think France and the UK are not small countries full of drunks. Well not small countries anyway. The superstars of rugby earn a hell of a lot more than 500,000. Rugby is bigger in France that football is i.e. bigger than Zidane, Henry etc (you do know who they are don't you?) Here's a short clip by the captains of the England football and rugby teams (Beckham and Wilkinson) comparing their kicking skills.

Rugby is the origin of that girly shoulder pad game that Americans call football (but everyone else calls American football). It's the number one game in Ireland, Scotland, Wales, France and South Africa and is either number 1 or 2 in Australia, New Zealand and England. Italy are also getting better as are a number of other countries.

It's something that interests me. I keep an eye on global stock index futures, oil, currency and interest rate futures and it's easy to see how markets often react together. I doubt there would be much activity in the forum though because most posters here are pure chartists. Maybe a single thread in one of the existing forums would be better?

NihabaAshi, I don't think YM gets a huge amount of professional interest, apart from arbitrage programs. Apart from the arbs it's mainly small and medium sized retail traders that trade YM. Just compare the lot sizes on the YM tape (more than 100 is unusually large) to the ES tape (not unusual to see 1000 lots going through). Most professionals are trading the stocks, the GLOBEX futures or the CME pit so it makes sense, if one believes that following the professionals is important, to use the rth for equities and CME i.e. 0930 to 1600 or 1615. Of course noting the overnight action is important but interesting overnight action often begins much earlier than 0820. Also this whole debate will soon be academic because YM is transferring to GLOBEX early next year so you may as well start getting used to it now.

Just a little... :rofl:

I just checked and I was probably wrong about that - it looks like rth are the open auction open to the electronic close: http://www.cbot.com/cbot/pub/cont_detail/0,3206,931+33905,00.html I think it would be silly to base your charts on that given the correlation between the ES and YM and given the fact that the underlying stocks dont start trading until 0930 EST. Every man and his dog in the US equities market and their derivatives is looking at the 0930 open so it makes no sense to be pedantic and look at the 0820 CBOT pit open (which doesn't get much volume anyway).

NihabaAshi, YM rth are defined on the CBOT website as being from the start of equities trading to the close of ECBOT electronic trading i.e. 0930-1700 EST.

Cooter you should have nominated that in the funniest video thread. He must have lost a lot of money that day.

OAC, we may be professional traders but none of us are perfect traders. If you don't confront aspects of your trading behaviour that impair your trading performance then you'll never improve.

That's a really touching story about you on the plane but it does remind me of how I've irrationally clung to positions long after there's any rational trading logic to holding them. The phrase I often use is that I'm wedded to a particular position. It's not so much a case of being wedded to a market as being wedded to a particular position - for example a long position in the stock index futures. I think it's a case of fear of the market running away just after I close it - just as an over-possessive partner may cling on to you for fear that letting go will result in the end of the relationship. Being wedded to your positions sometimes works in your favour (you're less likely to get shaken out of the market) but other times it works against you as profits slowly disappear as you live in hope that it will come back in your favour - just like people in failed relationships cling to hope of reconciliation. It's odd because I'm fairly brutal in my personal relationships in that if things are not working out I bring them to an end. I need to be more like that when trading. Just as I always remind myself there are other fish in the sea when a personal relationship isn't working out so I need to remind myself that there are plenty of other positions I could be taking in plenty of other markets.

The position of the doji relative to earlier candles is all important. In a range bound market a doji means very little but a doji star at the top of an uptrend that gaps higher and then the following day gaps lower and closes lower is ultra bearish. We had a couple of dojis at the top the recent up trend in the US indices but at the same time we had lots of dojis on the way up that didn't lead to any reversal. Daily dojis are better signals in the forex markets I find.

I don't use NinjaTrader for order entry - I use IB's BookTrader for that. You have to subscribe to NinjaTrader for the order entry functionality. The charts are very solid though. The MP add-on is good but I had a few problems with displaying forex data correctly. I did resolve the problems in the end.

I don't want to rain on anyone's parade but in an uptrending market price would spend most time above the 200 SMA, perhaps not touching it for days and in a downtrending market price would spend most time below the 200 SMA. In a choppy market it would spend most time going above and below the 200 SMA. Today I think the apparent support offered by the 200 SMA was coincidental and caused by the transition from a down trend to an uptrend, hence the flat 200 SMA.

1) GBP/USD, EUR/USD, USD/JPY 2) GBP/JPY 3) 5-60 4) You'll see far fewer if you miss the London open and not much is tradeable after the London close so maybe 2 or 3. 5) Between -200 and +200.

There's a list of providers on the CBOT website. Unfortunately there are no free ones - Sierra is the cheapest. Others include eSignal and there's an add-on for NinjaTrader.