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Found 6 results

  1. Trading between 8AM and 4 PM I want to have the chart set to Regular Sessions so that the chart is updated all day. But i want my trades to be triggered from 8AM to 4 PM. I tried the following code and it didn't work: if ( Time >= 0800 ) And ( Time <= 1600 ) then I even tried the following and it didn't seem to work. if time >= SessionStartTime( 0, 1 ) and time < SessionEndTime( 0, 1 ) then Any help could be of immense thing to my learning experience...
  2. Eurostoxx tested the 200 week MA and Oct high at 2575/78 and blipped higher to 2582 in the afternoon but could make it no further. If we beat 2582 today this should lead to a test of 2012 highs and the big double top at 2602/07. Clearly this is a very significant level and with the market overbought on daily and shorter term charts there is a strong chance of a high here for this 2 week recovery. We have to attempt shorts here with a stop above 2613. We then run in to the 61.8% retracement level of the losses from the highs in 2011 at 2638 and this therefore should be very tough resistance. Attempt shorts once again with a stop and reverse in to longs above 2650. Support at 2567/66 but below 2556 we could test better support at 2546/43. A low for the day here is very possible so worth covering any shorts but if attempting longs we need stop/reverse in to shorts below 2532 for a move to 2521/19. FTSE broke 5859 but has so far failed to test the Oct/Nov highs at 5903/07. With the market no overbought on daily and shorter term charts we may not each this far as profit taking sets in. A move below 5855 signals weakness creeping in and should see last weeks high at 5837 then possibly 5820/15 support tested. Watch for a low for the day here so exit any shorts but if we try longs here we need stops below 5804. Sell in to shorts on a break here as this could keep the market under pressure for 5783/73. If we manage to push through 5886 we run in to the Oct/Nov highs at 5903/07 and a good chance we go no further. However if we do continue on through here the Sept highs of 5933 could be the next stop. Dax broke trend line resistance at 7409 but the move was limited to 7418 as the market starts to look over bought on daily and shorter term charts. Even so we cannot rule out a break above yesterday’s high to test October & November highs at 7440/49. We should struggle here so worth exiting any remaining longs and moving in to short positions up to the 2012 highs at 7476. We will be looking to stop out of shorts however and buy back in to longs on a break above 7500. Support at 7382 then 7360 is the target below. Failure here sees us drifting further towards 7341, possibly 7323. Exit any remaining shorts here and look to buy in to longs on a move towards 7310/07. Stops on longs needed below 7295. Look to sell back in to shorts then with a move to 7270/65 likely. S&P did break 1416 but only made it as far as 1418. This is 55 day MA as well as the high for the first half of this year. The market is overbought now on the daily and shorter term charts so there is a risk we make it no higher now and start to hit profit taking. 1410 is the level to watch as a break below here sees us back towards 1407/05 and the 100 day moving average. We then find good support at 1401/00 and a probable low for the day if tested. If attempting longs here we need a stop/reverse in to short positions below 1395 for 1390/88. We are in a very strong 2 week up trend so we cannot rule out a break above 1418 for a test of the 1423/25 resistance level. This should be very tough to beat so worth exiting longs and trying shorts with stops above the Nov highs at 1432. eurostxx.pdf Dax.pdf Ftse.pdf S&P.pdf
  3. Market timing can be made complex or simple. I have studied many methods and definitely found the simple approach the way to go. Those studies were a quest for finding that method and what works for timing and what doesn't? What you'll find surprising is that the typical tools used by the majority do not work. I know you're interested in what does and I'll show you. Before we review what to use, let's review some of the methods often talked about to determine market turns. Almost all of them will give a signal after a turn of some form has already happened. For example, the break of an uptrend trend line will signal a violation of the uptrend since prices have already moved lower. However, haven't you see uptrend lines broken that were followed by an almost immediate reversal back up in the direction of the trend? I have many times and found them inaccurate. Let's think about the use of a trend line. An uptrend line is drawn by "connecting the dots" and is supposed to show you a support line that is projected into the future. If that line is violated, it signals the end of that uptrend. Why should that be the case though? Can you really locate significant reference points of support by drawing lines on a chart? How do you know you are connecting the right dots? And since there are different points that the line can be connected to, should you draw from all of them? And, what if those lines intersect, does that make for a more significant support point? And then, what if you change the time frame from a daily one to a weekly one? Doing that has now changed the "dots" to connect to. Are the lines in the weekly time frame more significant than those in the daily time frame? Getting complicated and confusing isn't it? What about moving averages as a market timing guide? Okay, which one should be used? Is a break of the 50-day moving average a trend violation? How about the 100-day? Surely the break of the 200-day moving average would be bearish. However, by the time prices made it below the 200-day moving average the trend would have been violated long ago. There are also moving average crossovers. Again, which moving averages should be used? The 5-MA crossing the 20-MA is a popular combination. Then there is the "Golden Cross" of the 50-MA crossing the 200-MA. Golden cross sounds impressive. Then of course, there is the question of what type of moving average to use. Simple, exponential, weighted and there are others, even optimized. The combinations are endless. If you have asked yourself these questions in an attempt to figure out a method of timing the market's turns you're not alone. I suggest that you forget these types analysis and others revolved around price indicators. They are useless for market timing. If you're thinking we need the more esoteric types of analysis like Gann lines, Gann Square of Nine, Elliot Waves, Any Waves, Fibonacci Lines, Cycles or planetary alignments you can be relieved. We want no part of that hocus pocus type of analysis. What you need to use for market timing are market internal gauges based on market breadth and traders' sentiment. Data to measure breadth consists of stocks making new highs and lows, advancing and declining stocks, the volume in advancing and declining stocks. These can even be combined with formulas that use that data. These are excellent ways of determining the odds of a market turn, since they give us a clear measurement of when they reached an historical extreme. In other words, they tell us when the broader markets have moved too far in one direction or the other based on what has actually happened compared to the past years. They also warn us before the turn. We don't have to use all of these breadth gauges and are going to keep this simple. You may think prices have moved too far, but how many times have prices continued to move much further than you thought they could. Or you thought that prices would move further only to see them reverse. Breadth gauges provide an objective measurement based on the history of the broader market's internal movement, not the recent price movement of one index. Sentiment gauges tell us how traders, investors and institutions "feel" about the markets. Are they too bullish, too bearish or too complacent? Sentiment surveys, Put/Call Ratios and Volatility Indexes are excellent tools for measuring the current sentiment against the historical extremes. This letter cannot cover all the breadth and sentiment gauges available, but what I will show you are a few things that can be found at free websites or in your charting program. They are also easy to use and understand. The Volatility Index (VIX) is a measurement of anticipated future volatility in the market. Extreme highs are associated with market lows and extreme lows are associated with market highs. In other words, the Volatility index moves inverse to the market. A move to support in the VIX is short-term bearish and a move to resistance is short-term bullish. I say short-term because a significant turning point would require other information that the VIX cannot provide. Pristine Tip: short-term market timing requires a combination of breadth and sentiment gauges. Currently, the VIX is at a low point where it has turned up from over the last few years. This is not near an all-time low, so the VIX could move lower or sideways. Over the last few trading sessions, the VIX has been holding this area and the daily ranges have been narrow. This type of price action in the VIX has historically preceded a short-term move up. Set an alert at 14.00. A move above would be a short-term bearish confirmation. In the above chart, is the S&P 500 ETF symbol SPY, the McClellan Oscillator and the Equity Put/Call Ratio with a 5-period moving average of that ratio. The McClellan Oscillator is simply the difference between to moving averages of the daily fluctuations of advancing stocks minus declining stocks. Historically, when the oscillator moves to between plus or minus 100 and 200 a short-term reversal is likely. However just like the VIX, we won't rely on the McClellan Oscillator alone for a signal. At times, extremes are actually confirmation of a move to trade with, not against it. The Equity Put/Call Ratio tells us how many puts are being bought (bearish bets) verses calls (bullish bets). The ratio moves up when more puts are being bought than calls and down when more calls are being bought than puts. The day-to-day movement can be very erratic and may not mean much. However, when the ratio moves to an extreme, we want to take note of it. When the 5-period moving average of the ratio is at an extreme as well, it is a much stronger indication of a short-term turn. Again, we will not rely solely on the Put/Call Ratio. What we are very interested in is when there is an extreme in put buying (bearish sentiment) at the same time there is an extreme in stock selling (bearish breadth). This would signal a market low (green area). We are also interested to know when there is an excessive amount of call buying (bullish sentiment) with an excessive about of stock buying (bullish breadth). This would signal a market high (red area). Currently, The McClellan Oscillator is into a short-term bearish extreme and the Put/Call Ratio moved to a bearish extreme last week; however, the 5-MA of the Put/Call Ratio has not reached an extreme yet. This is telling us that risk for longs is rising short-term based on the gauges covered, but without the 5-MA at an extreme of call buying there is still the potential for higher prices. Any market move to higher prices should get option traders "all-in" and the odds of a pullback in the market would increase based on our gauges. There you have a simple method for market timing. Is it 100%? Of course not, but it is good, simple and easy to understand. I know it will serve you well over the years as it has for me. Greg Capra President & CEO Pristine Capital Holdings, Inc.
  4. Good Morning All; For these next four letters, I am going to give you a series of exact steps that will help you tremendously if you have the technical knowledge, but cannot seem to turn the corner on making good profits. There are going to be four things that you can do that I feel will 'dramatically change your trading career'. The results will be immediate, every week. It should be stated again, that if you do not have the technical expertise, you are not at the level that these comments will help. If you don't know how to look at a chart, no amount of refining will help you. Where do you get this expertise? There is no better place that Pristine's Trading the Pristine Method Seminars. After a long time of working with many traders, one discovers that there are certain truths that cannot be denied. There are four things that are done so consistently wrong by new, and even fairly experienced traders, that each of these mistakes results in bad trades 90% of the time for most traders. If traders would simply follow these four rules, they would eliminate most of their losing trades. The fourth rule does not really fall into this "90%" category, but is perhaps the most important. Four Things That Will Change Your Trading Career: Part One of Four Here is the first rule, and the subject of this lesson. New traders are often so bad at managing trades, that their results would be incredibly improved by not managing at all. If you do not manage, it means you let your trade play out until it hits the target(s), or stops out. Nothing else. This is called 'all or nothing' trading. There are various ways to manage trades. Management should be a detailed part of your trading plan. Many do not even consider 'all or nothing', an option. Many management systems can work beautifully. So what is the problem that makes it the case that traders are better off doing 'nothing'? The problem is that traders do not FOLLOW them. Due to the emotions of trading, traders find excuses to override them. Most new trader's goals are to lock in small profits to avoid losses at all costs, and they change their management in the middle of the trade. Do you do this? There is a 90% chance you do. Here is how to find out. Go BACK in your records (do not do this going forward, it will not work) and take your last 20 trades and write down your entry, stop, target, and actual exit. Now go back to the chart, and see what would have happened if you did not manage the trade. Simply see if you hit the stop or the target first. Make a new column on your sheet and write this down. Then figure the profit for the 'new' column called 'all or nothing'. If the trade stopped, you lose your risk amount, whatever it is. If you hit a target, you may have a gain that is multiple times your loss (if you didn't have a target, figure what would have happened just holding to the end of the day). Compare which way you would have made more money, and be sitting down when you do this. Feel free to email your results to paul@pristine.com. By the way, if you feel like you really are 'getting' the concepts of trading, and you find you have good chart reading abilities and you have more winners that losers, but your account is not growing, you are going to be in this category. This works, because many good plays get to very nice targets. However, if the trader is not in the trade, they never make the big money. Many traders get in the habit of taking normal losses (they have learned to follow stops) but they take small gains. It is hard to make money like this. Below is the five minute chart of ZQK, with an inset of the daily chart. On this day, ZQK gapped up on the daily chart, out of a daily Pristine Buy Setup that had pulled back to the daily rising 20 period moving average. The gap almost cleared the 'half-red' prior bar. This is a bullish gap, so buying an early morning pullback would make an excellent entry. On the chart above, a five minute Pristine Buy Setup triggered at '1', and was an excellent entry for this play. Many traders have learned how to do plays like this. What separates the pros from the novices if who really takes home serious money from this play. Since this play was a bullish gap on a bullish daily chart, we know there is potential to move up a significant amount, even on an intraday basis. So we pull out the hourly chart and look for a 'target area'. This hourly chart is inset in the chart below, and the 'star' marks the target. This is the first base we encounter in the general area of a solid day's move. It is at 2.80 - 2.85. So we are in the play, and have a target area selected. The only variable is management. Please notice something. If you used the 20 period moving average as your management trail stop, you would have been in this trade to the target of 2.85. Notice if you used pivots, (if you don't know what these are, the purple arrows have marked off five or two minute pivots of some kind) you would have achieved the target of 2.85. However, 90% of the traders using these methods don't hit their targets. All of those purple areas (which coincidentally were a form of a pivot) are areas that traders use as an excuse to exit the trade. Most traders would have exited at the first arrow, for a loss. If you were to play this all or nothing, you would just set one order as a stop loss around 2.51, and then set another order to sell at 2.85 then walk away for the day, or at least take this off your screen and leave it alone. The bottom line is very simple. Use an all or nothing method of management UNTIL you prove that you can beat all or nothing with your own management ability. Do not underestimate the power of this lesson, for many traders it is the most important of the four. Closing Comments Understand, that I am NOT saying that all or nothing is the best method of managing trades, but I am saying it is better than what 90% of those reading this article do. Also, you will NOT benefit if you are trading so bad that you stop out of all of your trades. Again, this is not a replacement for knowing technical analysis. Do NOT assume you got the point of this exercise just buy reading it. Do the exercise. You will not believe your results. Email me you comments if you actually do this. Next week we will look at the second thing that will change your trading. Paul Lange Vice President of Services Pristine Capital Holdings, Inc.
  5. FTSE did manage a test of Oct/Nov highs at 5903/07. With the market no overbought on daily and shorter term charts we may be unable to move any higher at this stage. We have support at 5870/65 but below here look for 5848. If this level fails to hold a slide look for 5830 and a good chance of a low for today so we look to exit shorts and buy in to longs with a stop below 5810. If we manage to push through the Oct/Nov highs at 5903/07, then the Sept highs of 5933 could be the next stop. Dax did test October & November highs at 7440/49 where we suggested exiting any remaining longs and moving in to short positions up to the 2012 highs at 7476. We will be looking to stop out of shorts however and buy back in to longs on a break above 7500. We did fall back a little from here to first Fib support at 7406/02. If we hold on here today look for another go at 7445/49 and the chance of a high for the day again. It is worth attempting shorts again here and up to 2012 highs at 7476 with a stop & reverse in to longs above 7500. A move below 7500 however keeps prices under pressure for 7376, possibly 7355. Should be worth exiting shots here and buying in to longs down to the 7333/28 with a low expected if this support is tested. Stops needed below 7300. Eurostoxx reached 2592 but not quite as far as 2012 highs and the big double top at 2602/07. Clearly this is a very significant level and with the market overbought on daily and shorter term charts there is a strong chance of a high here for this 2 week recovery. We have to attempt shorts here with a stop above 2613. We then run in to the 61.8% retracement level of the losses from the highs in 2011 at 2638 and this therefore should be very tough resistance. Attempt shorts once again with a stop and reverse in to longs above 2650. Support at 2563/59 from some weekly highs with first short term Fib support at 2552 but below 2547 we could see 2527 next. We could expect a bounce from here if tested but we need stops on longs below 2519 for 2507. Dax.pdf eurostxx.pdf Ftse.pdf
  6. It is even possible anymore to day trade the Emini S&P futures successfully? I've been trying to learn pro strategies and systems for day trading the ES contract, but nothing seems to work consistently in this algo run market. There is no 2-sided action, just quick stop runs to bring the market down fast and bait shorts, then massive run ups on crazy TICKS (+1000). I know I should just be buying this market on every dip, but these market makers are so clever that they'll bring the index down farther than you'd expect so to show apparent weakness, and then spike it back up on no volume. I just can't go long when we are this extended.
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