10/03/2013 Live Update

[fehro]

so far.. so good.. held support, back over the 50d.. but still under the 20d SMA... SPX daily.. .. I'm just not so sure... still bearish looking

[joegamma]

when will we learn OOB?

i am a bit shorter than long, waiting to see what IWM does 10650/70 area before I cover or add to short

(should have covered all my shorts when I saw downvol soooo high above 80%, live and learn...)

[Out of Bounds]

when will we learn OOB?

i am a bit shorter than long, waiting to see what IWM does 10650/70 area before I cover or add to short

(should have covered all my shorts when I saw downvol soooo high above 80%, live and learn...)

Look now! Double whaMMM!

[joegamma]

your post of 30min SPY Renko(member site) a few days was much appreciated

Hi boss here’s update SPY renko
(it doesn’t lead…..it follows……like me……..)

yes!, following is a much better plan than predicting
interesting that you use (or someone who was on the board a few years ago) the closing period rather than the hi/lo...seems to reduce chop and fakes

Me perhaps?
viewtopic.php?f=2&t=360&p=41984&hilit=+renko#p41984

Wow, that stuff is almost old enough to vote
I think I used my old “waverider” renko as a template (as in this chart)
Then I overlaid spy on it, then tweaked the bricks to 50 cents
(waverider is on that old thread; I miss him)

103waverider.png

thanks for refresher, re Name to credit for idea!

[stlwater]

Me perhaps?
viewtopic.php?f=2&t=360&p=41984&hilit=+renko#p41984

Wow, that stuff is almost old enough to vote
I think I used my old “waverider” renko as a template (as in this chart)
Then I overlaid spy on it, then tweaked the bricks to 50 cents
(waverider is on that old thread; I miss him)

I know I'm dating myself... lol. Nice chart BTW

thanks boss
I don’t borrow/steal charts without permission; and when given permission, I credit the source.
That has been my modus operandi for all the years I’ve been on board.
I’ve credited “waverider” HUNDREDS of times.
[correction/exception: I do borrow/steal charts from Cobra……all the time….. ]

I wasn't making an accusation btw just remembered that you and I chatted about Renko way back then, if my charts are helpful then I'm supporting the board which has helped me more than a few times. Whatever happened to Waverider?

[Out of Bounds]

Against all better judgement, I have gone a bit long and started to pour myself a cocktail.
Trade central is moving poolside.

[Darkmatter]

Are you Carl Futia? If not you're plagiarizing his blog word for word today.

ES The S&P 500 is still above its 50 day moving average as is the advance-decline line, while the Dow is below its 50 day moving average. I suspect that the S&P is about to drop below its moving average and if it does the prognosis would be for at least a drop to 1599 where the break from the September 19 top would equal the size of the May-June drop

[1der]

Against all better judgement, I have gone a bit long and started to pour myself a cocktail.
Trade central is moving poolside.

Pictures?

[MrMiyagi]

Have not heard from our P Bar Boss but I have had 3 P bars up to 169.23 today and also we still have yesterdays up to 169.34.First P Bar at 12:03,12:18 and1:36..Now lets see.

I don't see today's 169.23$ you mention Kena.

[stlwater]

Does EVERY broken support area require a dozen retests before a continuation?

[L_T]

Against all better judgement, I have gone a bit long and started to pour myself a cocktail.
Trade central is moving poolside.

Pictures?

2nd that. Show us a little tropical life!

[fehro]

indices Dailies

[taggard]

Taggard, I really enjoy your psychology commentary. What is your favorite book on the subject?[/quote]

thank you. i did have pysch as part of a duel major (south pac rim econ was the other part) and did some time with a guy in the field. but i actually think pysch esp any trading books on psych are not too useful. they tend to be superficial and self-helpy. the idea being you are just trying to put a bandaid on the real issues. so if some one has a condition such as addition to smoking--yes it's valid to fix it but there is a lot more going on than that one thing. nuro finance is slightly better but is still a lot of work for very little reward.

I had better luck with martial arts which is a more absolute test (so the art of war/john mimford is ok. the tao te ching better (it's the basis of the art of war). even these books are not optimal. some of the hard core Tibetan Tantric stuff is better (re the meditation stuff)--but mostly hard to read for anyone looking for a quick clue.

so you might just try this test get a table and chair and a clock with a second hand. put the clock on the table and watch the second hand. using 3 or 5 seconds breath in. then hold your breath for the same period. then exhale for the same period. then inhale for the same period. count 1 mentally. do this 20-100 times. 99% of the time beginners cannot do this without losing count. this is because the mind is wandering. and this is where stuff like focusing on prediction and the past starts. you lose the sense of the moment--and start to drift mentally.

there are 80 5 min price bars in a day--i found it seriously troubling (as in freaking out) that i could not focus for 1 whole price bar on counting my breath. now from there to each his own--but i think that place is past books and theories and gives someone proof about the issue.

from there (so having a mind that stays in one place at least for a while) the other issue is just to use your feelings (in a difficult situation) to feel the action. so bars feel something--they feel heavy or light. this feeling goes below the idea of single bar patterns and is only alluded to in Brooks stuff.

the solution to all of this seems to be to relax but in an attentive manner.

So my bitch with psych is that it "discusses things" but rarely "acts". the more you talk the larger the ego structure (so i have this problem and oh man it is so bad and . . before long the problem is larger than Everest). as traders we place more value on the functional aspect. theory and studies are like pringles (bet you cannot eat just one). and become ends in themselves.

so empty the mind--fix it to price action--breath deeply and relax 100% (take that statement at 1000x what your first feeling about that idea is) and let it tell you what to do. it is hugely important to enjoy this process. so above all cultivate the idea market interaction is fun/to your advantage and so on. avoid the whole idea that "it's impossible/it's out to get me/it's rigged (ha my favorite bitch--because if so all you have to do is trade the rigging). at the very very least--be neutral.

why is this an issue? because the market is nothing--it's a void--a dream--it's just a consensual hallucination (nuromacer). what you are experiencing is the problem--you are mistaking your projections (dreams feelings illusions etc) on the screen for something outside you. so at the very least project nothing--and eventually it usually feels like a sort of half crazy pet. it acts funny sometimes but you like it and enjoy your time with it.

if you do this you by default wind up doing what the self help books are telling you and nail the great works of the east as well.

good luck with your trading

[Al_Dente]

..... Whatever happened to Waverider?

Wavy disappeared long ago…… too bad..

btw Uempel has Bullish Percent renkos that he posts periodically
Uempel and I have compared the settings a number of times off board
Completely different settings from the “waverider” BP renkos
Same results
Go figure

[MrMiyagi]

Selling time here? 5 minute overbought.

[Out of Bounds]

The part that is still being worked on. Constructions after one year - I live in the pinkish one for over six months.

[Out of Bounds]

The main house (which is still not complete)

[stlwater]

Taggard, I really enjoy your psychology commentary. What is your favorite book on the subject?

thank you. i did have pysch as part of a duel major (south pac rim econ was the other part) and did some time with a guy in the field. but i actually think pysch esp any trading books on psych are not too useful. they tend to be superficial and self-helpy. the idea being you are just trying to put a bandaid on the real issues. so if some one has a condition such as addition to smoking--yes it's valid to fix it but there is a lot more going on than that one thing. nuro finance is slightly better but is still a lot of work for very little reward.

I had better luck with martial arts which is a more absolute test (so the art of war/john mimford is ok. the tao te ching better (it's the basis of the art of war). even these books are not optimal. some of the hard core Tibetan Tantric stuff is better (re the meditation stuff)--but mostly hard to read for anyone looking for a quick clue.

so you might just try this test get a table and chair and a clock with a second hand. put the clock on the table and watch the second hand. using 3 or 5 seconds breath in. then hold your breath for the same period. then exhale for the same period. then inhale for the same period. count 1 mentally. do this 20-100 times. 99% of the time beginners cannot do this without losing count. this is because the mind is wandering. and this is where stuff like focusing on prediction and the past starts. you lose the sense of the moment--and start to drift mentally.

there are 80 5 min price bars in a day--i found it seriously troubling (as in freaking out) that i could not focus for 1 whole price bar on counting my breath. now from there to each his own--but i think that place is past books and theories and gives someone proof about the issue.

from there (so having a mind that stays in one place at least for a while) the other issue is just to use your feelings (in a difficult situation) to feel the action. so bars feel something--they feel heavy or light. this feeling goes below the idea of single bar patterns and is only alluded to in Brooks stuff.

the solution to all of this seems to be to relax but in an attentive manner.

So my bitch with psych is that it "discusses things" but rarely "acts". the more you talk the larger the ego structure (so i have this problem and oh man it is so bad and . . before long the problem is larger than Everest). as traders we place more value on the functional aspect. theory and studies are like pringles (bet you cannot eat just one). and become ends in themselves.

so empty the mind--fix it to price action--breath deeply and relax 100% (take that statement at 1000x what your first feeling about that idea is) and let it tell you what to do. it is hugely important to enjoy this process. so above all cultivate the idea market interaction is fun/to your advantage and so on. avoid the whole idea that "it's impossible/it's out to get me/it's rigged (ha my favorite bitch--because if so all you have to do is trade the rigging). at the very very least--be neutral.

why is this an issue? because the market is nothing--it's a void--a dream--it's just a consensual hallucination (nuromacer). what you are experiencing is the problem--you are mistaking your projections (dreams feelings illusions etc) on the screen for something outside you. so at the very least project nothing--and eventually it usually feels like a sort of half crazy pet. it acts funny sometimes but you like it and enjoy your time with it.

if you do this you by default wind up doing what the self help books are telling you and nail the great works of the east as well.

good luck with your trading[/quote]

Good stuff there. Like all things of value they can rarely be boiled down to a single easy answer. Having a background in the martial arts has been helpful as you suggest (exceedingly helpful over the past few weeks). Also I love your suggestion about the bars feeling heavy or light (charts too). Not trying to involve my ego here but after staring at charts for as long as I have I have begun to have this internal sense of heaviness (weightiness and/or lightness/springiness). That said SPX feels very heavy, but also VERY manipulated. Borrowing Cobra's suggestion of momentum (things don't stop on a dime usually) they need time to decelerate, I've begun playing with some ideas for a new indicator, might call it the Gravitron... lol

[Al_Dente]

5min internals can change fast
With nydec deteriorating…… it is still at big-bear 2300……bears may not be done yet…

[L_T]

The main house (which is still not complete)

Jealous! I would be sitting in that couch with a laptop doing my work every day!

What is the cinder block building with the big cut-out going to be?