Can anyone tell me why markets often do this on the open? Like the seng just now, opens, pushes lower to some random no support area then just goes beserk and shoots up to close the gap, anyone got any theories to why and how it does that, and why turn at THAT point? Makes it a bitch to try and pick the bottom, was expecting this to happen but just turned lower than I thought, or later should I say, chop chop chop nom nom mince screaming puke....then turns
View attachment 56449
anyone heard from boofis lately?
t/h what did you do to him?
Yep well you certainly have something I don't, and after 6 years of searching for what it is, I'm doubting if I ever will.
Last I heard he off working and trying to get a bit more cash to trade.
ta mate.
was worried u and the seng had put him in a mental asylum
ta mate.
was worried u and the seng had put him in a mental asylum
Yes that's where all Seng traders end up. Never mind there is still plenty of room in here. :nuts::nuts:
Sam, T/A is mostly a distraction IMHO. Yes, basics apply (have a look at 30min chart, you can see basic support trend line) but nothing is set in concrete, i think TH said it nicely T/A just frames the trade and you have to jump in, reading in afterwards is where the skill is. I still suffer from premature exits because of fear but i am mercyless when it comes to exits hence my bottom line is crap. I have no choice because the trick is to survive long enough to get the 'feel' developed. I suspect your 6 years was partially wasted because you jump from instrument to instrument. You have to pick one and stick with it no matter what and be tempted by the grass looking greener on the other side. I do dabble in other stuff but thats pure punting if i happen to luck out. I still urge you to stick it out mate.
Can anyone tell me why markets often do this on the open? Like the seng just now, opens, pushes lower to some random no support area then just goes beserk and shoots up to close the gap, anyone got any theories to why and how it does that, and why turn at THAT point? Makes it a bitch to try and pick the bottom, was expecting this to happen but just turned lower than I thought, or later should I say, chop chop chop nom nom mince screaming puke....then turns
Courtesy of ideas from both TH and Frank D over the years, I find the 50% zones in all time frames can make sense of what appears random. Having the ballz to take the trade is a different scenario however:1zhelp: I don't have DOM, but its "behaviour" right before the turn would tell some stories I imagine.
Is that supposed to have any relevance in that chart? Because I can't see anything important bounces/trend changes off those 50% lines.
Sorry if it wasn't clear; thought it was obvious ..... The spike down/reversal area you were "going crook about" was pretty much the 50% level of last weeks range ..... to the tick! (i.e. where the pink lines meet ... Just an observation)
Ahh sorry, didn't see the candle that touches it nearly to the tick, blended in with the next day dotted line separator. Might be a coincidence more than anything as the last two weeks didn't seem to have anything outside in regard to the 50% lines.
But yeah, it is something I already keep an eye on. Not quite on that large of a scale though.
I would encourage anyone interested in trading Asia indices to look at this spread instead of the outrights.
Today on the open i took two sim trades, I sold the spike up on the open and rode it down, then exited and bought the bottom...it usually returns to a 'mean'. At one to one the HSI is more volatile and tends to recover quicker than the HHI. I don't know if my thinking is right here yet, still just playing around really.
You realise you wrote everything twice in that post?
That spread is interesting, is it an actual spread "product" that you can enter or do you have to leg in manually, because if so, then screw trying to do that with those two crazy markets! But if it's a tradeable from as one product then I might look into it, certainly seems to trend well and looks good to fade?
Now to try and get spread charts in NT.........something it MASSIVELY lacks in its features.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?