[erierambler]

Originally Posted by sanchez »

How does the chat work? Is it specific to this thread ? Sounds cool

Just click on link that says chat on top of page and it opens in another window. You can familiar yourself with it now. Type in message at bottom of the new page and hit arrow . It is not specific to this thread.

erie

[sanchez]

Originally Posted by erierambler »

Just click on link that says chat on top of page and it opens in another window. You can familiar yourself with it now. Type in message at bottom of the new page and hit arrow . It is not specific to this thread.

erie

OK...looks like there is an option to create a room. Might be something to think about as I do not use indicators/oscillators & not sure how active the room is. We'll see how it goes.

[Simple]

Sanchez,

I see that your favorite markets are futures and currencies. You also use heavy or light volume to trigger PA trade activity.

What source do you use for Currency volume and how effective do you believe it to be? I ask because I saw a post on FF today where someone claimed that (Alpari) volume triggered their action on XAUUSD but someone else posted a gold futures chart that showed normal volume during the period alpari showed 2-3x normal daily volume.

[Jumper]

on what sort of time-frame do you trade? and by price action you mean what? "price action" is different with every trader I have met. Do you mean a 1 minute chart with just your candles/bars on it and volume?

Interested to read your posts too, so keep going

[sanchez]

Originally Posted by Simple »

Sanchez,

I see that your favorite markets are futures and currencies. You also use heavy or light volume to trigger PA trade activity.

What source do you use for Currency volume and how effective do you believe it to be? I ask because I saw a post on FF today where someone claimed that (Alpari) volume triggered their action on XAUUSD but someone else posted a gold futures chart that showed normal volume during the period alpari showed 2-3x normal daily volume.

sorry for the delay but rollover data is not equalized and I can't trade like this. Just trying to sort things out.

I trade the currencies on the CME not forex so the volume data is stable and reliable, imo. I'm not familiar with vol data that comes though forex brokers so I really have no idea. That is the main reason I trade the currencies and not the forex. I believe esgnal now has composite vol data from approx. 32 sources but it is only tick data and not true volume

[sanchez]

Originally Posted by Jumper »

on what sort of time-frame do you trade? and by price action you mean what? "price action" is different with every trader I have met. Do you mean a 1 minute chart with just your candles/bars on it and volume?

Interested to read your posts too, so keep going

Jumper,
I usually take my entries off small TF charts....1 min for example but it is really what I see on the DOM as price approaches my areas of interest. The S/R areas overall, are what is important though. If I see price approaching at 100 mph, I'm not going to stand in it's way. I will look for what I think is exhaustion & equalization of buyers and sellers. Sometimes it means getting a 2-3 tick better fill or passing on the trade altogether. If I know I am taking a Counter Trend trade, then the entry is very important. If it's a pullback in a trend then I can be a bit more liberal.

The key is to have all the ducks in a row so the only thing I need to focus on is the entry. I know where my stop is going to be, I know if it's a trend or CT trade so PT's are already in sight. I know where S/R levels are etc. IMO, there is nothing worse for a trader then to have to be making too many decisions once in a trade. I figure it out first, to the best of my ability & then take my losses and gains. Once I am in a trade, I have an expectancy for that setup & if it doesn't develop the way I think it should for that setup then I get more aggr. with my stops and squeeze out the risk....there is always another trade imo.

I agree that PA can be interpreted differently with each trader so let me try to explain a bit. I look at PA on a daily chart right down to "100 tick" charts. It's the volume associated at price levels that get my curiosity & that is when I begin to micro manage PA for an entry. So, by definition, PA changes for me between time frames but to me PA is very specific as to the TF chart I am looking at. I guess you can say it's about context.

I will try to explain as I go along. Hope this helps.

just got an email from my platform techs...lets see if I can get this data straightened out

[Jumper]

Yeah that helps alot, thanks.

What do you look for/see on the DOM? Are you just quick in and out of positions, quick scalps? or longer than that?

[sanchez]

Originally Posted by Jumper »

Yeah that helps alot, thanks.

What do you look for/see on the DOM? Are you just quick in and out of positions, quick scalps? or longer than that?

The DOM is hard to explain in a few sentences but here's my deal, if you will...

I look for s/r levels based on vol @ price. I use these levels to make trade decisions when price gets to those areas. If we are in a tight range I will scalp...scale out and keep stops tight. If we are in range expansion....I will be a bit more patient and look at the bigger picture.

I let PA dictate how I should manage my trades. I'm not always right and I don't expect or want to always be right...that's too much pressure lol. Anyway, I don't stare at the DOM ot time and sales all day...just when price reaches areas of interest to me. Then I look for balance or imbalance, as I perceive it. The only decision at that moment in time is whether to enter or not.

Hope this makes sense

sorry for the delayed response but I'm still dealing with rollover BS