I received the package today. Thanks. the material is awesome. I had a few questions for you regarding the applicability of DG in what I do.
I am basically a day-trader of the emini SP and the bond future. I am seeking to add to my arsenal a tool which will help me calculate various support/resistance levels and more importantly, offer me an insight into how likely they will hold.
I understand that in order to obtain the Tradestation software, I would need to sign-up to the lessons. In your opinion and with my objectives at your disposal, which lesson package would be "appropriate" for me? I like to keep things simple and I do not need a cannon to shoot a fly as they say.
Applicability....What Package is right for me?
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Trader Question
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Applicability....What Package is right for me?
Last edited by Trader Question on Tue Oct 21, 2008 11:09 am, edited 1 time in total.
Re: Applicability
DG does well on the S&P or emini for day traders. We have very accurate tools that project support and resistance into the near-term future and so you are always moving forward into this, and projecting how the market reacts to these levels, and taking action as you see this occur, a procedure that keeps you on the edge of the turning market and ahead of the lagging indicators. We use the relative position of higher time period support/resistance to guide us as to the strength or resistance of these levels. You might consider reading the chapter from the Bloomberg book
(available as a free download on the DG site) as an overview; don't be put off by the long-term yearly timeframe approach taken in that chapter as the principles are identical when applied to lower timeframes, including intraday.
As to software I think that if you are an experienced trader that you would want the Professional package or more. I would suggest starting with that and seeing what else might be appropriate to your individual trading style.
There are promising new softwares in the Specialty Suite package but they are new and have not had a lot of years of user-experience validating them, and in any case I would say that you might put off considering them until you have learned more about the methodology. The Alert package also promises great power, but should be a future move on your part assuming that you are deriving value from the methods.
(available as a free download on the DG site) as an overview; don't be put off by the long-term yearly timeframe approach taken in that chapter as the principles are identical when applied to lower timeframes, including intraday.
As to software I think that if you are an experienced trader that you would want the Professional package or more. I would suggest starting with that and seeing what else might be appropriate to your individual trading style.
There are promising new softwares in the Specialty Suite package but they are new and have not had a lot of years of user-experience validating them, and in any case I would say that you might put off considering them until you have learned more about the methodology. The Alert package also promises great power, but should be a future move on your part assuming that you are deriving value from the methods.