[Jumper]

Ok great, thanks for that. I try to watch DOM and T&S also, as well as tick charts, tonight I seem to be seeing things pretty well off T&S. Anyway, I'm looking forward to more of your posts, and no need to apologize!

[sanchez]

data is finally correct. I took a few trades but kept things tight. From my perspective, things will begin to normalize more by Mon-Tues.
Unemploy # came out today but I guess no body cares about them anymore.
tomorrow we have retail #'s so lets see if that creates some opportunity

[Jumper]

You mentioned about looking for volume @ price and seeing how it reacts there right? What do you use for that? Do you have a histogram in your DOM or some kind of ladder on your chart, like market profile?

[sanchez]

Originally Posted by Jumper »

You mentioned about looking for volume @ price and seeing how it reacts there right? What do you use for that? Do you have a histogram in your DOM or some kind of ladder on your chart, like market profile?

I profile vol on the chart. I use various combination's though. I am interested in the recent swings and also intra day profiles. I find the combo pretty strong

[AmCan1]

Hi guys,

I'm a newbie to TL and found this thread to be interesting. Mainly because (and forgive me if I have misinterpretted) it seems to me that you are a very instinctive trader who trades with a feel for his market vs. a set system with defined rules. There are so many ways to approach trading and most people fail at it. It's refreshing to read about someone who trades by feel -- successfully. It's in contrast to the way I trade. I typically will manually backtest a system with clear rules. Once I have confidence in the system, I find the structured approach makes it easier to remain disciplined and that keeps me on a steady profitable track. Not sure if this comment adds anything valuable to this thread though. I just was thinking about the whole notion of 'feel and instinct' vs 'a structured system.'

[sanchez]

AmCan1,
I do use instinct to some degree (tape reading) but I do have rules and a trading plan> trading plans are different for everyone & mine is no exception. My plan doesn't have a rigid entry and exit technique as you might know it. For eg. I am not waiting for some kind of candle pattern at the 61.8 retrace and taking a trade one tick above the high of the pivot candle.

I won't say I trade by feel because I am looking for pre defined areas of S/R but I make me determination as to where or what price to enter. So if my level for a long, for eg., is 1065.5-1067 I won't just rest a limit order there but instead I will wait until price reaches my area of interest and look inside at PA to determine whether or not to take the trade.

I do have structure but maybe not how it's taught in a book. As a trader there is a certain instict but rules are important. The # 1 rule is ....take your stops like a pro & move on. If a trade isn't working, just get out. W/O this rule the odds are stacked against you.

I hope this makes sense

[sanchez]

going to start with these #'s for now. Tough AM for now as I'm just getting settled with the rollover. 2 trades so far, both shorts...each worked for a +1 pt on 1/2 position and -1 pt on the bal...so BE for now. the most recent trade was a short at 78.75 after the gap filled.

upside 78.25 and 83, 88

downside 73.75-71, 67, 64

[sanchez]

watching 96.5 and 1100 as well