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VedantaTrader

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About VedantaTrader

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  1. VedantaTrader

    Loopland Area East Belfast

    Thats a coincidence. Just noticed this thread...I remember turning on to the streets on Friday morning after waking up in a random house after a pretty heavy night(time of year and all that) out...when my mate and me were outside we called a taxi and looked up and it said Loopland Street...It seemed like a nice area. It was a two bedroom house which had been nicely refurbished lived in by 2 post student girls around 23-25. The areas seemed peaceful and nice in the morning. Never heard of the street until Friday morning, signed in here and I was like WTF...?
  2. VedantaTrader

    Off Topic -amateur Stock Market Investment

    Hi PP, ah really your DoubleAgent, its a small world,haha...been quite hectic last few days I ll respond to this properly tomorrow night. I can't do it justice right now...Just one quick chart with some linear regression channels and volume by price. I would be on the side of a correction in palladium to "at least" 340USD...We are certainly at a point where is there is an equilibrium between accumulators and distribution. I would say that this week will start to balance or break this equilibrium between buyers and sellers...and I m more inclined to say to the downside, how much I don't know, but certainly 340 is a good place to start, failing that perhaps more. The other thing that cannot be ruled out is another spike up, however, if that happens(which I don't think it will, nut who knows) and I see a divergence between volume/price relationship then I think it will be a strong sell signal. For now though I d rather sell with a tight stop than be a buyer. This chart shows that this price level is an area of very high volume. Its an area in palladium where buyers/sellers love to meet and have a good old tug of war with the price. The bottoming area last November you notice also was a very high area of volume. Usually when these battles between the bulls and bears conclude its possible a "biggish" move can occur. Other volume behaviour to me says it is ripe to correct, between 350-360 seems like a good area to be short, perhaps on a four chart, or an hourly chart with some nice trend indicator overlayed.
  3. VedantaTrader

    If Anyone's Interested

    And the correction occurs. I m going to make a post about volume and offer some food for thought hopefully. I m testing in real time intraday as the markets are fractal. To test in real time EOD day takes too long...However, I would hope to apply more to daily charts...Anyway the market did correct from that level based on the volume analysis, that 5 or 6 candle correction to me could easily be a 5 or 6 day correction applying the same method to a daily chart, which could be a healthy profit. Just by going intraday I can find out about it more quickly. Even on that intraday basis it was a move of 120 cents which with a CFD or spreadbet lot would be a nice profit.
  4. VedantaTrader

    If Anyone's Interested

    As an example Agruim stock i think will fall from intraday pretty soon based on volume, but the reason that won't be true is if new volume comes into the market...up to the minute as of now...I m just talking a small intraday correction at least...My confirmational bias is based on my reading of volume...but the unknown is new volume which gives me the balance to be flexible if its wrong. Just thought it was an interesting idea.
  5. VedantaTrader

    If Anyone's Interested

    Hi HAM, you can get LSE also, it just depends on who you use for the data feed. I use Barchart.com for most but use Mytrack for LSE...So I have two incidents of the program on my desktop so I can connect to the two seperate data feeds. I highly recommend you try it, there is a free trial so nothing to lose and much to gain Now that is interesting that you know some programming. I dont and TBH think it looks really difficult. But maybe not. I can do the simple indicators using excel. Your right the indicators don't work in back testing. The human eye will pick out from a chart the times it does work...a confirmational bias...which brings me on to something I was reading today... Confirmational Bias in trading...Interesting article on the subject I think we are all guilty of it in all walks of life. For example I think Arsenal will win the league, what you think Red karma,haha? In trading it plays a huge part. One way around it is to make your decision on a trade, and then go and find all the reasons that could stop it from working.
  6. VedantaTrader

    If Anyone's Interested

    Ah yeah and a good scanner to find whatever you want. If you want to scan the NYSE or the LSE for example to find a stock that has made a doji top, on low volume with an RSI divergence then you can do it.
  7. VedantaTrader

    If Anyone's Interested

    I m going to be biased because I really love it...But it is just so good IMHO, of course Its just so customisable...Has a whole host of studies...Is real time data free with stockcharts? I don't know much about it. I get real time data CBOT, NYSE, LSE, Foreign Exchange, Amex...and delayed data and EOD for any markets I dont subcribe to. Attachment is of the excel worksheets that are built in and update whatever data on them in realtime right down to 1 second/tick data. This means you can create statistical analyse, write indicators, reference other charts from etc etc and just about all the things you can do in excel only it will plot it on your chart...in real time... Other things like loop functions, arrays...and C++ to customise just about anything you want, from backtesting systems if you can do that to writing systems that are fully automated. Also you can create real time alerts based on any parameter you want...It also has a trading window where you can trade from the chart in simulation mode also. Just right click and move the line to the price click and your done...plus a whole host of order types. Also using the worksheets you can reference other charts to do risk and money management. I also like the reference other charts study...and the number of charts you can do. You can create a candle based on any number of volume contracts rather than time, renko, tick charts, point and figure, two types of range charts, time charts, three line break charts. The data feed which is external are of good quality as you are not getting inhouse data but data from the exchange. example on thing I like is this..Point and Figure with 20 pip box size...for the CME AUDUSD...The volume by price indicator is set to 20 pips also...This means you can see the volume contracts at that price increment of 20 pips...you can do this for any number of pips...it is interesting to see how much volume is at a certain price bracket. The pink line is the POC(point of control) which is the highest volume in the time period that the chart is zoomed to. Its good to know where the volume is at, and where it is not at. Plus there are so many different volume studies... It is basically a package with a bit of a learning curve...but well worth it. Thats only some of the things...It is quite a alrge program where anyone can find the tools or create your own to express your own concepts and beliefs about the markets. Try the free trial
  8. VedantaTrader

    If Anyone's Interested

    Good to see you also KR...So that actually seems to be it? They usually are something as old as the hills and very simple. It could quite easily have been the MA's or ATR system... I don't really post too much on the forums, but visit them from time to time...Elitetrader is quite good if you go through the noise. Alot of bickering and egos on there.... Trade2Win is good, but its very quiet these days, but still good posters on there... Forexfactory actually seems quite good also...ForexFactory The best one seems to be Traderslaboratory which I have just signed up for. TradersLab WealthLab seems good for trend following of course it is a seperate expensive piece of software, but some good info on trend following systems
  9. VedantaTrader

    If Anyone's Interested

    Someone on a trading forum said that it was based on 3 higher closes on each timeframe...I didnt verify this as I don't use it. Perhaps three higher closes would often result in a SAR reversal alot of the time anyway?
  10. VedantaTrader

    If Anyone's Interested

    If I understand you right Richyc, it is because the 200dma will be based on 200 hours on an hourly chart, 200 days on a daily chart, and 200 minutes on a 1 minutes chart. 200 Month Dma...well you most likely havent enough data. You would need 200 months of Open, high low close data or just closing price data for each month before the average would show up. Thats 16 years before it will even start to draw on the chart... As an example of what maybe you were trying to achieve This is a daily chart of the S+P future...The orange line is referencing a weekly chart with a 10 week simple moving average...This means that the 10 week moving average is now being drawn on the daily chart. Thats why it looks less "smooth" and more step like. Its actually a very useful tool being able to look at different studies on one chart to give an easier way to analyse a market, it certainly is something that can be used in developing a trend based system. Here is another example with the RSI on daily chart but referencing the RSI from the weekly chart. The thing to remember is that when you overlay an indicator on a chart it will be based in the data within that chart.
  11. VedantaTrader

    If Anyone's Interested

    Hi Guys, have you room for one more on this thread? GEI, as Hotairmails knows has become a bit of mud slinging "trade", and "volumes" are low. It seems that opinion is taken as heresy by many posters on there, which is a shame as there are some very good posters amongst the noise... I have been working on quite a few indicators of late and this seems like a more enviromentally friendly place to host your views and ideas and to offer food for thought. I have always liked Red Karmas relaxed views to trading and open attitude and you guys seem open to learning about new stuff and discussing ideas...Hotairmail seems to be thirsty for knowledge and has a high degree of curiosity and offers some really good posts and good material on things.Although I m still learning about the economic side of things the last 6 months I have been realising I m much better aligned to more technical mechanical based systems with a dollop of discretion thrown in. Of course the fundamentals are more suited to longer term views...my problem has been aligning the time frames between technical based decisions and fundamental based decisions...I think at heart I m more short term, the swings lasting hours, days and sometime weeks...It is hard to reconcile longer term economic fundamentals, although its very useful to be aware of them. Paul Tudor Jones in MArket Wizards said that the best risk/rewards are at turning points...So it is interesting that HAM is searching for ways to pinpoint bottoms and tops. It has been something that for many traders, myself included in that has been the bane of trading. MAny warn against it, more experienced and richer than us...due to the blackswan events and the fact that markets can move much faster and further than we can expect. So I think it will be a good idea to study as many tops and bottoms, consolidation periods as possible and offer the characteristics that go with it... One of the biggest things I have been trying to incorporate is volume. I have come up with a few ways to use this indicator and one of them is to find the turning points short and medium term.
  12. VedantaTrader

    This Wee Tune Of The Day Thread......

    Great Songs...My Bloody Valentine, Ride and Teenage Fanclub, great melodies must listen to Grand prix and Bandwagonesque soon again...and Dj Shadow is fantastic also. Love this song...Love the guitar intro, the organ sound, and the way he comes in with the lyrics, and the way the song ends with the mix of organ, piano, guitars and those stereo effects come wizzing in from all angles like they are passing just over your head...(well it feels like that with the headphones on and last thing at night in a dark room, haha)
  13. VedantaTrader

    This Wee Tune Of The Day Thread......

    Great thread is right. Really liked that TalkTalk song. Cure great band,and BlueManGroup looked really powerful. Sp posted Echo and the Bunnymen so might like this song as will PP... Great Song http://www.youtube.com/watch?v=b5cyUJf6SnY
  14. VedantaTrader

    This Wee Tune Of The Day Thread......

    Love Primal Sream, the best stuff was Screamadelica,Vanishing Point and Xterminator...This song is fantastic live. I love the way the guitar sounds come in on the chorus...Fantastic...great idea for a thread by the way PP. And a well known song from the early nineties done fantastically well with this great style of guitar by the late Eric Roche http://www.youtube.com/watch?v=_zxZcUrfX0o
  15. VedantaTrader

    Monday Morning Stock Market Crash Or Not?

    Lets see how the currency markets do at opening. I expect the AUDUSD to move lower on risk aversion, and also the JPY to strengthen. I m planning to short AUDUSD from these levels. The RBA have been too quick out of the blocks with this rate rise. It has led to alot of speculative money flowing into the AUD, which is benefitting from the funding currency's GBP, Euro and USD, JPY...I think we will see a violent reversal in this pair. However, the currency markets are where to watch for signs.
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