12/28/2018 Live Update

[Cobra]

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no idea up or down from here.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2018/12 ... ay-update/

[te_fern]

Starting the day off small!!

[Cobra]

members only update at 10:15 am
http://www.cobrasmarketview.com/2018/12 ... ay-update/

[daytradingES]

9:06 AM 2018-12-28
h/l est
2512.25
2372.50

if it doesn't hold in the 2512 or less area then 2523.50 could be done

model says
dir=+1
rng = 75.75, 102

I think a narrower rng about 40 and choppy sideways, perhaps with a move later in the day, slight down, however it IF falls too much they will ramp it to give a good close.

If today is red Monday will be ramped to give green on Monday (strong year-end close).
If today is green then Monday could be red.

EO & NTA

[daytradingES]

looking to sell (sim) the next bounce

[Trades with cats]

from FT71, thoughts on volatile trading helping his followers to be successful and not blow up

[te_fern]

FT71 Boundaries.png

I wonder what he uses to align himself with the market?

[te_fern]

Can we push down to the MA lines????

[te_fern]

This is an example of where the TICKs seem to have gotten a little ahead of their MA lines, which to me would indicate some consolidation.....

[1der]

Ah!! Yep, was starting to miss the tweets....

Current threat is to shut down the southern border completely and terminate all the trade deals w Mexico. Okay .... that should be good for some volatility.

[daytradingES]

I wonder why not keep a detailed record of successes as well?

Accept randomness?

Randomness has proven by Jim Simmons not to exist. to the tune of billions.

https://en.wikipedia.org/wiki/James_Harris_Simons

----------
James Simons is the founder of Renaissance Technologies, a legendary quantitative hedge fund firm that manages $57 billion.
He founded Renaissance Technologies in 1982 and retired in 2010, but he still plays a role at Renaissance and benefits from its funds.
Renaissance Technologies is famous for its Medallion Fund, a $10 billion black-box strategy that is only open to Renaissance's owners and employee.
Simons has given $2.7 billion to philanthropic causes over his lifetime. His Simons Foundation is the primary funder of Math For America.
https://www.forbes.com/profile/jim-simons/

[Trades with cats]

FT71 does a 15 minute you tube live most mornings a half hour before the open. He has been doing this for many years.
He uses price action with big emphasis on the order book. He follows a Renko trigger chart looking for reversals. He will go in with 50 to 100 contracts so he needs a major turn point so he can get in ( action to push against) then if it goes his way he starts unloading as the trade moves.

He is frequently saying trade with the trend (align your trade with the market) as new traders are likely to try counter trend trades.

He uses the volume profile, pivot points, prior support and resistance to put a couple of scenarios for the day together so he has an idea of what to do if they happen. This spring he put a new firm together to provide an environment like a prop trading firm for us home gamers. So in his free videos he is always assuming he has several newer traders in the audience that are likely to blow up their accounts.

[Al_Dente]

earlier:
pending home sales dropped again in November, sliding -0.7% vs the expected 1.0% increase, declining in six of the last eight months, with a cumulative loss since March of -5.9% (-8.9% annualized)...
and down a whopping 7.7% compared to last year, the biggest annual drop since April 2014.

[Trades with cats]

Two quick points.
Records, you don't have to worry about newer traders keeping track of their wins, but you need to keep track of the painful stuff so you can get to be an old trader.

Randomness. If the market was random like the lotto we wouldn't be here. However for the typical retail trader it seems many well regarded authors say to treat the next price bar as a random action. I suppose because we do not all have Phds in math intense disciplines with a huge computer network to serve us like the folks at Ren Tech.

I may add neither do we hide billions from the IRS in off shore accounts to fund our charities.

[Trades with cats]

Wonder if we bottom around the London/Frankfurt close, yet again.

[te_fern]

Would need a lower low here or we're going higher....

[te_fern]

Small triangle, looking like it will break up....NTA!

[JFR]

The market is catching its breath, deciding which way to go. Maybe it is not deciding, just lurching. Ha ha

[Cobra]

members only update at 11:50 am
http://www.cobrasmarketview.com/2018/12 ... ay-update/