Comments on: “The UMT is probably the single most powerful trading system I have ever used.” http://www.umttrading.com/2007/08/13/the-umt-is-probably-the-single-most-powerful-trading-system-i-have-ever-used/ Watch Live Forex, Future and Stock Trading Results Using the UMT Mon, 07 Jun 2010 19:40:14 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Abhijit http://www.umttrading.com/2007/08/13/the-umt-is-probably-the-single-most-powerful-trading-system-i-have-ever-used/comment-page-1/#comment-161 Abhijit Tue, 14 Aug 2007 13:32:10 +0000 http://netpicks.wordpress.com/2007/08/13/the-umt-is-probably-the-single-most-powerful-trading-system-i-have-ever-used/#comment-161 Hello, Thank you for addressing the "chop" issue I had previously raised, and that too, so quickly. I would appreciate if you could please address another request. For a lot of us, trading during the European hours is the most feasible but the DAX may not be the best instrument simply due to its' high point value, but the mini S&P is, although relative to the US session it is low on volume and therefore one may reduce the trade size. Would it be possible to show a mini S&P chart for the first hour or so of the European market and how it worked with the methodology - a lower time frame of 89 ticks or 55 ticks would be ideal. Thanks. NetPicks Reply: You typically would not want to trade off tick charts in the European session (overnight hours US) unless you used very small ones since it might move around a lot at times but the volume is so much lower you'd need to use a much lower setting since the ticks will simply be fewer. The issue is some overnights are very very slow, others have excellent movement -- though normally that is an hour or two before the US session starts. I'd probably focus my attention on markets that are actively trading the timeframe you are in the markets -- you can probably look at other European indices (FTSE, etc...) along with the Dax - though those will depend on the datafeed/charting platform as not all carry all the indices. There are definitely good trades at times with the US futures in the overnight/Globex session but it also can be slow going at times so might not be the first place I would commit my time. Thanks. Hello,
Thank you for addressing the “chop” issue I had previously raised, and that too, so quickly.
I would appreciate if you could please address another request. For a lot of us, trading during the European hours is the most feasible but the DAX may not be the best instrument simply due to its’ high point value, but the mini S&P is, although relative to the US session it is low on volume and therefore one may reduce the trade size. Would it be possible to show a mini S&P chart for the first hour or so of the European market and how it worked with the methodology – a lower time frame of 89 ticks or 55 ticks would be ideal.
Thanks.

NetPicks Reply: You typically would not want to trade off tick charts in the European session (overnight hours US) unless you used very small ones since it might move around a lot at times but the volume is so much lower you’d need to use a much lower setting since the ticks will simply be fewer. The issue is some overnights are very very slow, others have excellent movement — though normally that is an hour or two before the US session starts. I’d probably focus my attention on markets that are actively trading the timeframe you are in the markets — you can probably look at other European indices (FTSE, etc…) along with the Dax – though those will depend on the datafeed/charting platform as not all carry all the indices. There are definitely good trades at times with the US futures in the overnight/Globex session but it also can be slow going at times so might not be the first place I would commit my time. Thanks.

]]>