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professor nothing major, but there were some big names ex-div including MBL, ORI and RINprofessor_frink said:
professor nothing major, but there were some big names ex-div including MBL, ORI and RINprofessor_frink said:Did I miss some major news or something today
That was one mighty impressive selloff. Can't say that I've seen this beast selloff from the weekly pivot down to R2 in one day before
Oh ok then. I thought Telstra might have something to do with it, but what would I really knowspitrader1 said:professor nothing major, but there were some big names ex-div including MBL, ORI and RIN
Prof .... have focused on getting a handle on MP, hence no posts {also was got tired of posting to myself .. lol .. ie no-one else seemed interested in my ramblings on MP}. However am very impressed with the POC and bracket values given by MP over the last approx. week.professor_frink said:How'a the MP going this week Euler? Be interested to hear what your thoughts have been for the last couple of days.
R7!professor_frink said:I'm going to go get that R7 I had my eye on tomorrow
Good stuff mate- I think that if you were working on setups that required conditions like Thurs, Fri and today to make a profit, then you could be in trouble. I don't think any kind of level trading needs thatEuler said:Prof .... have focused on getting a handle on MP, hence no posts {also was got tired of posting to myself .. lol .. ie no-one else seemed interested in my ramblings on MP}. However am very impressed with the POC and bracket values given by MP over the last approx. week.
Mon 13/11 no trades as I still working through it.
Tues 14/11 1 trade for +2 ... ok getting the hang of it.
Wed 15/11 no trades.
Thurs 16/11 1 trade for a very good return.
Fri 17/11 3 trades .... one small return, 2 trades v.good.
Mond 20/11 1 med trade and 1 whopper!!
The issue is whether another method would have produced similar or better results, or whether the market conditions are just right to produce good returns. Time will tell.
So far I have found MP simple to use, and it has logic supporting the application. Even at this early stage, and am slowly building on my knowledge, I have a good level of confidence in the application.
The aim is to have a plan that results in a good return for your effort. If MP works for you then go for it. If you have another method that works then also go for it.
wayneL said:R7!
I must look up what s level the markets went to in 87.
s500? hah!
Agree ... and that was my point in relation to my comment ... "The issue is whether another method would have produced similar or better results, or whether the market conditions are just right to produce good returns. Time will tell."professor_frink said:You'll probably get a good idea of how well you can use it when we get some lower ranges intraday.
Oh Oh! hahahah! I completely misunderstood.professor_frink said:
I think the R7 will be quite helpful for days when things just don't quite work
No better way to work off the anger than to belt the **** out of something!
Winston Churchill said:Golf is a game whose aim is to hit a very small ball into a even smaller hole, with weapons singularly ill-designed for the purpose.
no matter how tought the shafts are, somone such as myself after 3 balls dissapear into the lake can still manage to, in a manner that gives significant gratification, snap it around the closest willow.wayneL said:Oh Oh! hahahah! I completely misunderstood.
Though even Winnie would admit that the weapons of today less "ill-designed".
Even shanks go further... the wrong way
Do they come with unbreakable shafts these days
I think this probably should determine if you use it long term or not-Euler said:Agree ... and that was my point in relation to my comment ... "The issue is whether another method would have produced similar or better results, or whether the market conditions are just right to produce good returns. Time will tell."
IMHO, having methods that you are comfortable with, is probably more important than if it is a star performer or not. Basically any tool could have picked up alot of points the last few days- very few of which I would be comfortable using over any length of time.I have a good level of confidence in the application.
Now that wouldn't be much fun, would itWayneL said:Do they come with unbreakable shafts these days
You'd fit in well at any golf game my friends and I played. If it were me, the broken club would be in the lake with the ballsspitrader1 said:no matter how tought the shafts are, somone such as myself after 3 balls dissapear into the lake can still manage to, in a manner that gives significant gratification, snap it around the closest willow.
A point of the opening low- impressiveEuler said:MP POC @5300 entry @ 5310 on 5min chart now trailing stop sitting at 5325. As I write it is moving higher so t/s will move accordingly.
Maybe risk was high, but on 5/15 min chart the indication was a move up and given it had taken off the POC it was worth the risk. Trailing stop now taken out @ 40.professor_frink said:A point of the opening low- impressive
I don't think this rally we are having this morning can last(surefire buy signal for everyone else).
On the sidelines at the moment.
Well done sir!Euler said:Maybe risk was high, but on 5/15 min chart the indication was a move up and given it had taken off the POC it was worth the risk. Trailing stop now taken out @ 40.
PS .. I'm using chart incl SYCOM data to trade this
I did have a stop-loss just below the 5300 level just in case it wanted to kick back . I was also slow and wanted to get in a little earlier but trigger finger froze.professor_frink said:Well done sir!
I think the risk was very high....when I posted. An entry at 5000-5010 like you and I would have been more inclined to take it, but I wasn't really on the ball this morning, and missed an entry at that level
Think I might come back for a look after lunch
At what time in the morning do you have that number? Having that by 11am today would have turned out to be quite usefulEuler said:Out of interest ... calculating the POC with this am price gives POC now @ 5327. Want to watch how price now reacts around that level. Part of the learning the A-B-C's for me!!
The figures are calculated on the 30min bar high-low. So it would have been available 11.01am. And, today it tested that value on the nose ... and went to hit 60.professor_frink said:At what time in the morning do you have that number? Having that by 11am today would have turned out to be quite useful
SweetEuler said:The figures are calculated on the 30min bar high-low. So it would have been available 11.01am. And, today it tested that value on the nose ... and went to hit 60.
I was advised that the intraday POC should not be relied upon until it has "matured" .. ie use it in the after lunch session. But I'm not sure ... hence the reason for looking to see how it behaves and if it behaves this way reliably.
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