The "up-to-the-minute Market Data" thread

reply to post by Hx3_1963


Im confused..

What am I reading right there?

Is that just revised 1q GDP?

Not 2q?

reply to post by GreenBicMan


That was the finals for q1

whatever the report tomorrow (which is expected to be negative yet again) remember that finals for q2 '08 were almost 3% UP

Interesting observation here...

The 1 min chart is looking like a bullish wedge formation where we would break upwards while 233 t is showing down..

What does that mean for someone like us?

Perhaps play the short term gain and then sell when the 233 t has reached its upper limit wave

This of course, is in no way what anyone should do, I am just saying this is two ways where you can use different time periods of charts to your advantage (if I'm even right that is lol)

www.sierrachart.com...


www.sierrachart.com...



[edit on 30-7-2009 by GreenBicMan]

One more thing as well caught my eye on the 233 t chart..

Reverse head and shoulders (highlighted)

If this indeed does end up being the case I would say expect the same sort of day as yesterday where we find a way to tank on close.



www.sierrachart.com...


This move though would at least have to change my mind though if we ended up holding that double red as support..

That would be a great test in the future if the bear flag held up.. I know I have said it a few times, but history remembers itself as far as s/r go.

It would also constitute that technical analysis can be 2 things at once and not always clear at all.. which we already knew.. but this would be a good study to fall back on

I've been lurking on this thread for a while & just wanted to send my thanks to the contributors...GBM, Retinoid, [& others].. for all the insights and info you have shared.

Anyway, complete noob question here. Where do you suggest I start with a little (educational) trading? I have a basic knowledge of finance, economics, etc (though my primary education is Comp Sci/programming and IT/IS). What do you suggest I read or do to prepare myself to play around with a little bit of cash?

Thanks...let the noob flaming begin

reply to post by Discordia23


everyone starts somewhere..

how much do you know about markets?

what would you trade?

when would you trade?

what is your strategy?

These are all major questions and one isn't bigger than the other.

Originally posted by GreenBicMan
reply to post by Discordia23

 

everyone starts somewhere..

how much do you know about markets?

what would you trade?

when would you trade?

what is your strategy?

These are all major questions and one isn't bigger than the other.

Haha... well I don't know much...very basic understanding of markets and economics... I guess I'm looking for more of a first stepping stone, (ie how did you start out? how did you accumulate your understanding and knowledge of markets?)

If you have Cash...keep it...don't even think about losing it in this...*CARP*

IMHO...Doji says...(GMB is A "Mirror")



USA GDP=V-sucks...

Value as you always will...

Look to Asia...as it advances...so will ours decline..inverse Doji...

Take that GBM...

While I am thinking about it

Bulkowski - Encyclopedia of chart patterns (A MUST IMO)

Gives statitics on all sorts of formations like I post as well as their % probabilities + probailities of what it will do if it reverses and breaks the pattern as well..

Here is how you use it.

Scan the book once to familiarize.

Go to stockcharts.com or finance.yahoo.com and scour all charts and look for some patterns.. you will not be able to just "read it" as you will fall asleep lol

Then use it as reference..

You didnt hear it from me but you can easily find it as an E-book for free in torrent sites.. if you cant find it anymore I can email (along to anyone else that wants it)

I have some other books, but it sounds like you have a decent background and reading about it IMO sucks because nothing is better than losing in real time in a SIM (because you will lose)



_________________________________________________________



In addition, get some real time charting software like I use if equities/commodities/futures is what you will be leaning towards.

If it is options - I hear optionsXpress is good and RR could give you better info relating to that subject.

_____________________________________________________________

Software like mine lets you real time SIM and go back 2.5 years.. you will need to purchase more history from a 3rd party that will intergrate into your charting package if need be (easy to find, but $$) - also this software isnt free as well and you will have to pay for that along with a real time data feed such as Open ECry or TRANSACT or BARCHARTS.com

__________________________________________________________

Besides that money management, patience, and math is the name of the game from there, I am sure some of us have varying opinions on small things here.. but that is totally IMO of course..

____________________________________________________________

If I am still online when if you reply I will add to this based on your previous answers/

reply to post by Hx3_1963


Dont forget the hang seng was at 30,000 as well - they lead us in market advances that is true, but good luck ponying up the margin requirement to play with the big boys over there..

There is money to be made in this market my friend and you wouldnt want the whipsaws of eastern markets anyways.. play what you know for now

Or just keep all your money like he said and forget about it - remember its $ you must be willing to lose (all of it) so he is correct in those terms

Dang..that was a lot of Bull...

So what...

finance.yahoo.com...

Shanghai Composite 3,376.14 1:52AM ET Up 54.58 (1.64%)
Hang Seng 20,592.72 1:53AM ET Up 358.64 (1.77%)
Nikkei 225 10,348.43 1:48AM ET Up 183.22 (1.80%)

They can't smell blood in the water???

Originally posted by GreenBicMan
While I am thinking about it

Bulkowski - Encyclopedia of chart patterns (A MUST IMO)

[edit on 7/31/2009 by Hx3_1963]

Next... :X

[edit on 7/31/2009 by Hx3_1963]

reply to post by Discordia23


Doing this everyday for 10 hours a day for a quarter of my life I guess..

Its all I really know.. and its not like I am right all the time/ even if I am it is hard to deal with the ups and downs (whipsaws) plus the mental game and patience you must learn to deal with something like this.

Will you be daytrading?

Will you be just buy hold till a later date?

You need to clarify these things some more and come up with a little gameplan before too much can really be said

Thanks for the replies guys, I am snagging the Chart Patterns torrent as we speak. Keep doing what you do, I have learned more from your posts/charts than from all the bull# I've been taking in college.

reply to post by Discordia23


There is no class on how to trade a market. In fact me and RR were just talking about this privately.

Go to the floor or HF's... 50% will be just amazingly smart ivy leaguers that are mathematical anomalies combined with market geniuses and 50% will be people with street smarts.

One isn't better than the other, although the people with programming knowledge like yourself are now in the drivers seat.. take advantage of that.

OK...

Here is my "Harvard Ed"

Shanghai Composite 3,375.98 2:07AM ET Up 54.42 (1.64%)


*I* suggest a *Retrenchment*....


Notice: Volume...As Mr Stater noticed...

Mr.Fib...Indeed...

[edit on 7/31/2009 by Hx3_1963]

reply to post by GreenBicMan


The closest thing to a trading "class" was an economics class where our proff. had us all use a practice trading account from the second day of class till the end of term. After handing in the results of our few weeks of trading we had to write a summary of our strategy and technique. The only real lesson learned was listening to the various ways everyone invested, and no one invested in precisely the same way .... which I suppose was the purpose of the the whole experiment..

And perhaps it was a truth because in the actual market everyone has different ideas and strategies and theories and mathematical answers to all their trading questions.. but no one seems to follow a "standard". If you don't have the natural intuition, I suppose the next best thing is to mimic another person who has proven themselves.

reply to post by Rockpuck


VARIABLE ANNUITIES with a high for life

Said it before and ill say it again, should be the only way 99% of people invest

You are right about the various strategies and all that etc... thats what you CAN NOT beat in the market is all the randomness.. very hard to beat..

As he said, myself as well, you need to define what you will be DOING EXACTLY DOWN TO THE LAST DETAIL.. anything else will get you busted

reply to post by redhatty


I don't think it really matters what GDP will be, if it's negative, it's better than expected, if it's positive we see a rally either way.

Some of the European GDP numbers coming out are absolutely dismal.. Ireland released yesterday at -8%, Lithuania post -22% ..



Newly accepting benefits accelerated, but over all unemployment declined (meaning more are rolling off benefits)

My State has officially been declared "Severely Economically Distressed" Only Michigan and California are keeping us company with that glorious title.

On a bright side, I have a job interview tomorrow with a bank, so hopefully I will be back trading with you guys in a few weeks.. Hopefully is the key word. I'm just lucky I had enough invested and stashed away to keep my alive the past 7 months.

reply to post by Hx3_1963


That isnt very fair as you posted an intraday chart along with a 5 day chart Hx

Also, that volume looks a little weird to me in that graph.. let me look at that