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Showing content with the highest reputation since 07/31/08 in Posts

  1. 7 points
    bootstrap

    I Look Back Now and Wonder

    I wasn't sure where to put this, so the powers that be can move it if they see fit. I put it here for anyone who is just starting out and wondering what it really takes to become part of that elite club of profitable traders. I lurk on several trading forums. I join a few and make a few posts. One thing that I rarely see is the painful path one took to becoming successful. So for all you beginners here is what becoming successful took. For my fellow brethren that are already in the club have a good laugh. The markets had always lured me as a kid. I would read the paper and make predictions. Sometimes they were right; sometimes not. Then one day I got that famous commodity-trading flyer, sent my money off and took the plunge. My first stab at trading was commodities and I started with $5k in 1991. I was using the strategy as outlined by the guru. The account was gone within a few months. Well that didn’t work. I thought, people do this everyday and make money why not me. So off to the library. I read every book the Memphis library had on trading and investing. I paper traded the strategies I found while I built my bankroll back up. I learned exits, set-ups, position, expectancy, market psychology, and portfolio management. I soon realized that I was reading the same thing over and over no matter which book I checked out. Time to build my strategy. I am ready to do this. I bought a new computer, Metastock Pro 6.0, and opened an account with $30k. Its 1995, and this is my shot. By 1997 I was toast again. The family life went to hell in a hand basket, and I thought I could trade through the difficult times. The result was an account with a balance of $2500. Back to the drawing board. Took care of the personal stuff. Lived like a monk raising capital. Worked nights and watched the market during the day. Took a second job on the weekends to raise more money. Then one day out of the blue, the little red and green candles started to make sense. I saw patterns develop over and over in the same spots. I placed a trade and made a profit. But I had done this before. I removed the MACD from my charts. Placed another trade and made a profit. Maybe I am on to something. Removed the channel indicator that I stumbled across. I could still see the action and new what the MACD was doing and where the action was in the channel without them even being on the chart. I even stopped drawing trend lines. It was just me and the screen. I planned every trade. I knew exactly when, where, and why I entered and exited. I was patient. I became a predator. Lurking and waiting. I took every shot the market gave me. If it started to go wrong, I got out quick and waited. If the market did not give me an opening, oh well. There is always tomorrow. By the fall of 1999, I was consistently profitable and have been ever since. For those that are waiting for the sales pitch, there isn’t one. For those that are waiting for me to expose some great secret, well there isn’t one of those either. What I will give you are a few simple pointers that I learned the hard way. And the sad part is, most will stilll learn these the hardway. 1)Take everything you read with a grain of salt. That includes this post. 2)Never pay for a system. It is just not that easy. 3)If something comes up in your life that is distracting, stop trading. 4)Plan every aspect of your trade down to the smallest detail, and plan for every possible outcome. 5)Develop your own strategy. Don’t let someone tell you that you can’t trade a simple moving average if you truly believe you can. 6)Test the strategy in the market that you will be trading. If you like the results, trade it in another totally unrelated market and see if it still holds up. 7)Paper trading is ok, but there is nothing that truly tests the strategy like hard earned cash. 8)You will have to make sacrifices in order to make it. I still do. In the middle of my learning period I was working 18 hours a day during the week and 12 on the weekend. 9)You are responsible for everything when it comes to trading. That includes stop running, bad fills, limit moves, your PC crashing. I mean everything. See #4 10)And last but probably most important, don’t be afraid of failure. Just do like Edison and go, “Well that didn’t work”. Good trading to you all.
  2. 3 points
    LindsayBev

    Best Candlestick Book / PDF??

    Donald, here is the pdf version of the book, if you are interested. While a bit "salesman-like" in its approach (all of what he claims cannot possibly be true or it would be the Holy Grail), it was packed full with pictures, commentary and helpful information. Enjoy. Profitable_Candlestick_Trading-HERE.pdf
  3. 3 points
    rangerdoc

    Wyckoff Resources

    I'm not one to make a habit of bumping old threads, but based on earlier discussion, this is clearly the best place to post a link to the original Wyckoff course: The Richard D Wyckoff Method of Trading and Investing in Stocks: A Course of Instruction in Stock Market Science and Technique. Wyckoff - Course.pdf
  4. 2 points
    bootstrap

    Why Screen Time Is Important

    Here is something that should get pretty lively.. Since everyone keeps telling you that screen time is important, there has to be something to it. But nobody is telling you what you should be looking for. What is it going to teach you? There has to be something that those who do this for a living see that you don’t. Well there is. And just like the magician that exposed the secrets to magic tricks on national TV, I am going to tell you what we see. But before I do remember one thing. Take everything you read in a forum or book, or hear from a guru or in a seminar with a grain of salt. Question everything. Only when you prove it to yourself, does it become the rule. What I am about to share can be found on thousands of sites and in countless books. If you have done any research at all, you have come across Dr. Elder’s triple screen, or some permutation of it. You understand the principles behind using multiple frames of reference. What has most likely not been explained to you is why it works or how to apply it correctly. In most cases you are only given a single example. Single example you say? Yes, when most first stumble across using multiple time frames, they follow the rules of: Use the upper time frame to identify the trend, the middle time frame for the set-up, and the lowest time frame to enter. If by chance you are not familiar with the triple screen just goggle “triple screen +elder”. Trading instruments exhibt three different types of market action in any given frame of reference. You use multiple frames of reference (i.e. Time or ticks) to identify the current market environment. These markets are: Trending, Trading, and Volatile. Why screen time is so important is that all instruments do not exhibit the characteristics of Trending in the upper time frame, Trading in the middle, and Volatile in the lower at all times. They can be in any one of the following combinations at any given time: Trending/Trading/Volatile Trending/Volatile/Trading Trading/Volatile/Trending Trading/Trending/Volatile Volatile/Trending/Trading Volatile/Trading/Trending Or any one of 84 possible market combinations if you consider Volatile/Volatile/Volatile. Like the major pairs in Forex, the combinations I listed are what I consider the major market combinations. The elusive secret that you are looking for, and what screen time teaches you, is to identify which market combination you are in and then how to trade what you see. Or better yet, when to stay on the sidelines. Each combination requires a different strategy, and some may not be tradeable at all. If you are trading across a broad range of instruments, you only need to master one. The fewer instruments you trade, the more market combinations you may have to learn. But you have to learn them one at a time and only add the next one once the first is mastered. But you ask what about Trending/Trending/Trading? Or how about Volatile/Volatile/Volatile? Or if I use Weekly/Daily/Hourly I get Trending/Trading/Volatile but if I use Daily/Hourly/Min I get Trading/Volatile/Trending. One step at a time grasshopper. One step at a time. As I mentioned there are 84 possible combinations. Multiply this across thousands of instruments and countless frames of reference, and I hope you get the picture. You do not have to learn them all. You only have to learn the few that fit you, your chosen instrument and frames of reference. Find the market combinations that are most prevalent and learn to trade only those. This is why it takes screen time to learn to do this, and why each trader is different. It is also why three traders in the same instrument will be doing something different. Trader A will scalp, trader B will be a buyer, and trader C will be seller, and they all make money. They are using different frames of reference and therefore see a different market
  5. 2 points
    DbPhoenix

    Trading The Wyckoff Way

    Put simply, support is the price at which those who have enough money to make a difference are willing to show their support by retarding, halting, and reversing the decline by buying. Resistance is the price at which those who have enough money to make a difference attempt to retard, halt, and reverse a rise by selling. Whether one calls this money professional or big or smart or institutional or crooked or manipulative or (fill in the blank) is irrelevant. If repeated attempts to sell below this support level are met by buying which is sufficient to turn price back, these little reversals will eventually form a line, or zone. Ditto with resistance. A swing high or low represents a point at which traders are no longer able to find trades. Whether that point represents important support or resistance will be seen the next time traders push price in that direction. But everyone knows this point, even if they aren't following a chart. It exists independently of the trader and his lines and charts and indicators and displays. It is the point beyond which price could not go. Hence its importance, both to those who want to see price move higher and those who don't. The first two posts to this thread address these matters, as do others here and there. However, finding S&R in real charts in real time takes more than just a couple of posts. But one must understand the nature of support -- and resistance -- itself before he begins to look for it. Otherwise, he will find what he thinks are S&R in some very peculiar places. Before coming to any conclusions about what “works” or “doesn’t work”, and thus does or does not provide an edge, one ought to keep in mind that a given event -- such as price seemingly finding support or resistance at a trendline (or moving average, candlestick, Pivot Point, Fib level or whatever) -- may be only incidental to what is truly providing that support or resistance. A fundamental misunderstanding of how "indicators" are calculated and what they're supposed to do can lead to all sorts of off-task behavior. We think we see the indicators indicating something, or not, and believe we have made an important discovery. We then devote our efforts to improving the hit rate and the probability of whatever it is we think the indicator is indicating when our efforts ought to be focused on determining whether or not the indicator is actually indicating what we think it's indicating. In most if not all cases, it isn't. Consider the virgin being tossed into the volcano: sometimes it results in a great crop, sometimes it doesn't. Maybe tossing her in earlier or later will change the probability of a healthy crop. Maybe two virgins are better than one. Maybe six. Maybe tall virgins are more effective than short ones. And surely age is important. But does the robustness of the crop really have anything to do with tossing the virgin into the volcano in the first place? The money under the pillow is not evidence of the existence of the tooth fairy, and spring will arrive regardless of whether the virgin is tossed into the volcano or not. (Db)
  6. 1 point
    Johnjohnson

    Forex Trading

    Hello Guys!! Actually, I am new in Forex Trading and I want to learn more about it. Somebody recommend me VOLUMEFX to learn more about Forex Trading and trade with them. Is anybody from you is trading with VolumeFX? If yes, can you please share your views about them, so that I can choose the best one!
  7. 1 point
    TamirZoltovski

    Which is good for investment?

    While there are several investment options to choose from, an investor still requires a substantial amount of capital to build a diversified portfolio. This capital need can be a special challenge for young investors, as they may have minimal savings to invest. Thus, Tamir Zoltovski (Co-founder of Moneta International UAB) says ETFs (exchange-traded funds) make it probable to have a diversified portfolio with comparatively low investment thresholds.
  8. 1 point
    Stan1

    Which is good for investment?

    Well I don't know. Good is only defined by you. What might be good for me might be disastrous for you. What are your goals? How much do you have? These are some of the questions you need to answer. Do you have a trading plan? I might post mine here to help. Most of all, you need to be sure of your own decisions. Asking for what trades are good is a sure way to lose your money. I could tell you what to trade then trade against you and basically just rob you. Learn your own system to trade. Do you have good resources?
  9. 1 point
    Investing in Forex is not a game, it is something serious and study, experience, patience and a lot of discipline. It can be a very profitable business if you are careful and never get greedy.
  10. 1 point
    alexa-moore

    Forex signals

    The forex market is like boxing, if you train well and are good you can earn a lot of money and have free time. But if you go there without training you will be very bad, places to invest there are many, and while they are regulated you will not have fraud problems, however even if you have the best broker in the world if you do not know how to analyze markets, you will hardly avoid losing your money.
  11. 1 point
    mitsubishi

    ,,,just Sayin...

    If you want somethin done, guess you have to do it yourself- Bono is a virtue signalling, hypocrite boring traitor ignorant cunt.... and a fuckin RACIST https://www.youtube.com/watch?time_continue=396&v=TjIORAjYWng
  12. 1 point
    zdo

    Gauge upcoming high volatility

    Have you looked at tweaking https://www.incrediblecharts.com/indicators/chaikin_volatility.php Basics = On charts: - statistically speaking, nothing has been found in markets that comes closer to following linear cycles than 'volatility' - statistically speaking, sideways ‘congestions’ are followed by ‘volatility’ - statistically speaking, narrowing ranges are followed by expanding ranges “statistically speaking” means these indications give no "gauge" / information about the size of next move or the risks involved... only that ‘activity’ typically follows ‘inactivity’ ie-with options, nothing (outside of astro) is reliably predictive of the variance of the next move... ie with buying options, you have to figure out a way to play all the major waves in order to be there for the outliers ie- hope you’re writing ‘insurance policies’ into screaming volatilty instead of buying them in dead volatility... who makes money ? the insurer or the bozo who buys policies left and right... took taleb years to figure that out and he’s a pretty smart cookie... sorry - off topic now.... and congestion time is due to end ... hth
  13. 1 point
    zdo

    Which indicators you like and why

    Noobies, PAn said "Indicators are absolutely worthless" To be more accurate, PAn should have posted "Indicators are absolutely worthless to me." Indicators are like any other measure or representation - worthless if you don’t know how to use them. When I first started trading I studied indicators in depth then moved on... it was not until many years later when I got into automation that indicators and learning how and WHEN to use them became not “absolutely worthless” but extremely valuable. ... PAn, somewhere a noob is in a Price Action thread trying to integrate new material. Someone like you pops up and says “Price action trading is absolutely worthless. Indicators are all I need” . Helpful? No. To really be accurate PAn should have posted nothing at all in this thread...
  14. 1 point
    Gamera

    Testing Times.

    Actions for the 31st. Volume seemed to be all over the place along with the PA.
  15. 1 point
    Well there you go nameat. Follow that and you will trade "without bearing any loss"
  16. 1 point
    WildPete

    Reading Charts in Real Time

    Hi folks...Another shot at this GBPUSD long (if triggered). God Bless.. WP
  17. 1 point
    Hi traders, how are you? I am just joined here. The community looks beautiful, easy and good structure.
  18. 1 point
    Donald

    Never Lose Again!! TheRumpledOne

    I don't know, but you just joined 2 hours ago. Kind of hard to believe you after that.
  19. 1 point
    The answer to this question is relative. I mean, it depends upon you. It depends how quickly you understand the market and the company in which you invest. If you study the life of successful traders, it is analyzed that it took them years.
  20. 1 point
    CrazyCzarina

    Forex Trading Vs Stock Trading

    Your success depends upon the trading strategy being adopted by you. It is not only important but absolutely necessary that your trading strategy must have inbuilt strengths to make you a successful trader.
  21. 1 point
    Oh you have! Glad you liked it, and good luck to us then. I have learned a lot from them so far. Be patient and keep learning!
  22. 1 point
    Jason Solomon

    Help me choose a forex market

    Thanks Donals, I'm grateful for any aspects on what to trade.
  23. 1 point
    zdo

    ,,,just Sayin...

    ... https://www.youtube.com/watch?v=oBmp8OOJ8sE Everything to the right on your chart is free information
  24. 1 point
    mitsubishi

    ,,,just Sayin...

    https://www.indy100.com/article/mum-daughter-beautiful-sexism-make-up-boys-girls-8327241 Seven years ago, Claire O'Reilly gave birth to her first daughter. Having raised two boys already, she thought herself an expert parent. But raising her daughter taught her an important lesson. From the start, Claire found that people treated her daughter differently to her two boys. You’re kidding! You mean there’s a difference between males and females? We can’t have that these days can we? She explained: The midwives who delivered my sons pronounced them strong, sturdy lads. But Annie — at a massive 9lb 10oz, far heavier than either of her brothers — was first called ‘beautiful’ by the midwife when she was less than a minute old. If only millions of little girls started behaving like chimpazees as well ,things could finally feel a lot more normal around here. This made Claire realise that raising a young woman to be self-confident and independent comes with a whole host of unique challenges. That’s nothing compared to the unique challenge you neo liberal fascists face in convincing the rest of us to go along with your insanity Btw will you get a sponsorship fee for mentioning ‘Lego’? Because of this, Claire has vowed never to call her daughter beautiful. Imagine if you were described as beautiful occasionally….why it would make you suicidal wouldn’t it? It would make you want to disfigure yourself so that fat ugly lesbian SJW snowflake nazis and the useful idiots behind them could feel better about themselves. Instead, she opts to shower her in compliments about her ability at sport, her kindness to animals or her dedication in practising the piano. While Claire's parenting ethos may sound extreme, the facts appear to back up her belief that girls face disproportionate pressure to look attractive from a young age. In 2016, a study by Girlguiding UK revealed that a third of seven-to-ten year olds believe that they are judged on their appearance and a quarter feel the need to be perfect. Well, based on that, let’s re-engineer humanity Girlguiding... hahahahaha. I bet 100% of them feel the need to continue life as a female. So while never complimenting girls on their looks may seem a step too far, perhaps we could all do with distributing praise more evenly. You think it ‘may seem a step too far’? But what would make you want to concede that? Coukd it be that deep down you know 2+2 will never be 5, no matter how much your masters demand it? I would have thought transgendering infants was a step too far. I would have thought removing children from da parents who object to having their children butchered under da global social engineering programme were steps that were da steps too far. I woukd have thought believing one word in this fruitcake article is true may seem like a step too far. I woud have thought describing yourself as a journalist was a step too far. I would have thought calling your 'newspaper' The 'Independent' was a step too far. Just sayin’
  25. 1 point
    A TRUE LIFE STORY OF A VETERAN TRADER We were in a midst of a popular monthly traders’ forum when an elderly man on a wheelchair was helped into the hall. The moderator asked us to stand up for the man, whom he called “a soldier on the battlefield of the financial markets.” As the forum was about to be concluded, someone suggested that we allow the professional on a wheelchair to give a short speech. A mic was given to him. He held the mic and said: “My fellow traders. Thank you for standing up for me, and thank you for giving me a privilege to talk in this forum. I started trading 12 years ago. And I am still trading. I will trade for as long as I breathe. I am one of the most popular Forex traders in this country. Sadly, the one who coached me for Forex trading stopped trading in 2008, because of subprime crises and market crashes. He lacked risk control skills. I pressed on, to become a regular columnist in a popular newspaper, writing about Forex trading on daily basis. I also provided trading signals for people, as well as trading my personal accounts. I have 2 powerful manual strategies that I use. I developed the strategies based on my many years of experience. Trainees who apply my strategies have been sharing wonderful testimonies since. A few years ago, I fell ill. Diagnosis revealed that I had cancer of the bone marrow. I required surgery in a foreign hospital. I gathered all the funds I could gather, and well-wishers and friends also contributed what they could. I was transported to a foreign country (I was already paralyzed). Luckily, the surgery was successful. I can say, partially successful, for the paralysis was partially corrected. I can now speak and use my hands. I can also stand up, but I cannot walk. While I was on a hospital bed and my legs were tied. I was trading profitably on mobile devices. I was even providing trading signals and mentorship to people online. Then, a client couldn’t believe I was providing services to clients on a hospital bed until we connected on Skype, doing video calls. I was seen trading on a bed, while I was strapped to the bed. Several months ago, I came back to my country, and I have continued trading, training and providing signals since then. [He burst into tears]. Traders. Let me tell you this. Online trading remains the best tool for financial freedom. Please do anything possible to become a winning trader. Look at my condition now. I am advanced in age. I can only stand up, but I cannot walk. I need crutches and a wheelchair to move about. Imagine. If I was someone who did 9.00 A.M – 5.00 P.M. work, what would be my lot now? My employers would have laid me off. If I was fortunate enough to get anything from them, it could have been exhausted by now. I would have become a beggar by now. Or what makes me special when compared to other handicapped persons who have now become beggars? Clearly, online trading makes the difference! Imagine. If I go to Mr. Henry to beg for $30, I would finish spending it. If I go to Mr. Johnson to beg for $20, I would finish spending it. If Mr. Johnson was kind enough to give me $20 three times. He would eventually stop giving me more money because he got his own responsibilities. He might not pick my calls again; or he would instruct his folks to tell me he is not at home, when I visit him next (to beg for money). This is a lesson you must learn. Please learn from my story. I trade on a wheelchair, and I make money from signals provision, coaching and trading. I can sustain myself, my wife, my 3 kids and my aged mother.” He dropped the mic. And the forum ended. I conclude this articles with the 3 quotes below: “You must be disciplined in following the plan of your trade religiously. Once you have closed your position, you should record everything about the trade. Write down where you wanted to enter the trade, what you expected out of the trade, and what you actually did get out of the trade. Make sure to include notes that will help you learn from the trade, reasoning what actually took place once you entered the trade. Explain why the trade was a winner or a loser. If you keep detailed records, you can learn from past trades and increase your chances of recognizing your strengths and weaknesses. Build on your strengths and stay away from trades you have demonstrated weakness in.” – Andy Jordan (Source: Tradingeducators.com) “Humans are an error based machine, we make mistakes and perfection is never really on our radar despite our best efforts. The realisation that mistakes are at the core of good trading is hard for many to accept as they are locked into the belief that you cannot make money if you get trades wrong. Fortunately there is no nexus between making money and being right. Many, many years ago i discovered that the fewer fucks I gave the more I made. To revert to a past life choice of mine – you could never be a fighter if your expectation was that you would never be hit.” – Chris Tate “Avoid illiquid markets. Be sure to check volume. How much is it on average and is it steady day after day. And perhaps the greatest lesson of all should you happen to leap before you look--never, ever trade on hope or stay in a trade based on hope. If you are wrong, get out. If you don't have the discipline to do that, you shouldn't be trading.” – Joe Ross
  26. 1 point
    zak.gibb

    Forex Trading on Smartphone / Iphone

    I've been using my iPhone 7 since the release of this phone. So I was trading for about a year now, and I never had a problem using my broker's mobile platform.
  27. 1 point
    mitsubishi

    ,,,just Sayin...

    Hailing the city’s infamous equal pay policies which set off long-running bin strikes as a success on Thursday, Ms Daniel said that women are now paid six per cent more than men at the council. Rather than apologise for this “gender pay gap”, councillors boasted that this showed “the way forward” for other local authorities. The staggering hypocrisy of the neo liberals' useful idiot semi moron delta minus shitheads. It's not worth your time to debate fkcheads like these. It's far more productive insulting the the crap out of them instead. Why do they mentally ill need to advertise themselves to the rest of us?... I really don't get it. http://www.breitbart.com/london/2018/03/10/council-pronoun-trans-identities/ Remember, it's not the fascist neo liberal ideology that is the problem. That can easily be deconstructed. The problem is that way too many of your fellow citizens are born to be nothing more than useful idiots. Stupidity is THE growth industry. Everything else is being built around it..
  28. 1 point
  29. 1 point
  30. 1 point
    Every stock market investor wants to make a good profit from stock market but the journey to stock market most often starts with No Rules.
  31. 1 point
    mitsubishi

    Joke of The Day!

    :rofl: This week I will mainly be sitting in front of the tv, encased up to the neck in plaster.teaching my budgie to type bile and venom on TL (how's he doing?) sucking 3 meals a day through a straw. Zdo, You may not know this but in this 'cusp' of quantum computing, inserting my name on someone else's accident report can, in a multiple universe situation, cause the fabric of time and space to bend in such a way as to cause it to actually happen to at least one version of me on the other side of the black hole that sits at the edge of our galaxy. It's unfortunate that this glitch, on this particular occasion, happened to the only version of me that I'im personally.... What the hell is that echo?....personally aware of, which means I personally:confused:... damn echo in here... will be forced to sue you for loss of trading time .... where did all those budgies come from? :doh: However, if it transpires that dozens of mitsubishis have suffered the same fate we (I) will have to (unfortunately) bankrupt you.in a class action ...
  32. 1 point
    Patuca

    Beyond Taylor

    Capt bob i will do this just to show that i can trade bigger trends using taylor (since all here view me as a stupid scalper) AND to show that taylor trading does work. I trade all kinds of environments..ways..tactics..strategies...etc.. I do not just scalp two ticks to 4 points in the ES and NQ at a time but i do admit i like the fast action scalping 10 or 20 lots...i get bored as a chicken in a hog pen on day to day swing trading....like mr taylors (may he rest in peace) Give me a few days to get primed up and in the mood....and to determine which instruments i will trade. May be more than one..Probally will. I use to use Taylors methodolgy exclusively with stocks but gave up my stock scan program and stock data so i am not sure how well it will work with futures. I have no stock data feed nowdays. If anybody uses TC2000 for stock data could you send me a daily ascii file (export)on say 15 stocks of my choosing. I can instruct exactly how to export the data file for my purposes from tc2000 in the form i need it. Quite easy and quick to do. It really is just a small file. Just need it everyday at end of market close. I will give a list of the stocks. Takes about 5 minutes each day to export it to a file and email it to me. Who can do this? i have a certain engagement that must needs be fullfilled sept 12 thru 18th (kentucky)... But say around the 19th i will plan on doing the first mr taylor (may he rest in peace) trade. Remember now, i will be using rather large stops so do not get alarmed. I will post the basic strategy and plan for the next day before hand after the close each day. Since i use tape reading for the final entry decision (as mr taylor did ...may he rest in peace) i will post my entry as i make it. Is that agreeable to you? I also, recalculate the days under certain market conditions (my secret) so you may see that a day changes from a buy to sell day IF certain conditions take place in the market. That is, the day may start out on the open as a buy day but change to a sell day under certain conditions which I will not divulge at this point in my earthly existence. However, if there is a change in the day i will post that change and the new tactic based upon that change BEFORE i take a position. Then i will tape read and make my entry base on the new day and will post the price of my entry...stop loss...etc. Are those conditions acceptable? I may make or lose money but will most likely make money:haha: I will not divulge my taylor secrets so i hope no one wastes my time or theirs trying to wheezle it out of me....but any other general Taylor questions i will try and answer as i have time and if i am able. Just to show mr taylors method can work adapted for todays markets... I am a taylor purist except for certain adaptations.......which i will not divulge..but which can be discovered and implemented by anyone.....perhaps... Ole windbag Why? knows Taylor really well. I personally know mr. windbag...(i call him that because of his incessant yada yada yada)...but he does know all of Taylors secrets...you might could go to honduras and wheezle them out of him..just don't offer any money or he may really get good and pissed and start on his ole ...there is more to life than money sonny...speech..which will embarrass you and may take a couple of hours of your time for his lecture..leaving you filling like a naughty child who put his hand in the cookie jar.... Patuca
  33. 1 point
    I'd strongly suggest to anyone who is serious about trading to think very carefully about whether using a mobile phone app for trading is a good idea. The interface, speed, reliabilty and security issues make it something I personally wouldn't do. If you have a position and you absolutely must leave, either make sure you have a way of getting through to your broker's execution desk quickly or close the position out before you leave.
  34. 1 point
    WHY?

    Beyond Taylor

    I think you may be confusing some issues here. Taylor believed the market to be manipulated over a 3 day period. During that 3 day period there would be opportunities for two type of actions. 1) Going long and selling that long position 2) Shorting and cover that short position. For instance, you can take advantage of action number 1 above on three occasions: Low made first on a buy day. In this case you sell the long on the next day or same day if you are daytrading. The next occasion for going long and selling that long was on a Day 2 of the cycle i.e. a SELL if early in the session a low is made below the low of the previous day (which would be a buy day) then you go LONG and sell that long on any good rally back to or through the low of the previous day (low of that buy day). You must complete this action the same day and not hold overnight. The third opportunity for action number 1 is on a BUY day say it doesn't trade down very well at all but near the end of the day it has held a higher low than that of the previous day (ss day) then you can take a long position. This is called buying a higher bottom on BUY day. Taylor says it is usually profitable. But generally you would hold this position until a decline starts which could be the next day or even the followoing SS day. In summary, I have just described to you 3 times which Taylor espoused taking and a long position and selling it over the course of the 3 day cycle. You can't just simply fit the actions into phases and call it a shorting phase or a long phase. Why is this? Well I have just explained that there are two long opportunies presented on the buy day and one long opportunity presented on the Sell day. You take every which one actually works out in the market. Now look at shorting opportunities. Taylor says you can short a high made first early in the session on a buy day and cover it the same day. You can short also on a SS day on a high made first and cover the same day or the next day. Look at my post #216 again. It was a buy day. It closed high on the previous day. That means that odds favored a decline in the next trading session (buy day 4-2). Therefore, I was looking to employ action # 2 above FIRST on this buy day. That is, I was looking to short on a decline made first then reverse and go long on action number one, occasion number 1, mentioned above. That is, I was anticipating the market being to be taken down first on the buy day 4-2 (why? well because it closed high on the previous day). Then I was anticipating a market reversal thus giving me an opportunity to cover my short and to take a long opportunity per occasion #1 under action number #1. Maybe I haven't confused the issue even more for you. In summary you can't just divide it up into a shorting phase and a long phase. You can go long or short on the very same BUY day. There are no shorting phases and buying phases. There are only shorting opportunties and buying opportunities and they are multiple and they occur over the three day cycle.There are no mini campaigns. There are only shorting and long opportunities over a 3 day period. Hope this explanation helps.
  35. 1 point
    WHY?

    Beyond Taylor

    Well guys I may disappear for a few weeks. I gotta do some other things and all this posting takes time and I ain't very bright so I have to peck the keyboard. I'll check back in occasionally and maybe add a post here and there. Just study the charts and posts and you will see how I trade Taylor and scalp at the same time. Why let time waste? Do both, if you think you might like scalping. Anyway, hope something was said that helps someone. Trading can be kept simple but it is hard work. I try to keep it simple for me and uncluttered but use these techiques that allow me to scalp, and trade the Taylor moves, at the same time. Here is forecast for tomm. It is a SS day in my Taylor count. I see it trading up first. It may or may not penetrate the high of 3-29 of 1404 but who knows. If it trades up early and gets close to 1404 I read the tape using techniques I gleaned from Arms, Taylor, Gann, Williams, Brooks, Droke and a few others. That would take too long to explain but in short I let the tape dictate to me my entry point. My pre-market Taylor analysis gives me a view on what may happen and helps me determine the day of the cycle. But the tape tells the real and final story so I fine tune my entries to it as I make my Taylor entries and exits. Anyway, the Taylor strategy calls for shorting any penetration of 1404 once the tape indicates it to be good to do so. My forecast give three possible highs with the highest being 1407.16. IF the price action takes place early in the session. If it doesn't make it early (like during night session or first couple hours after day session) then short when the decline begins but that will take some tape reading skills to determine that. If it makes or penetrates the high in the night session and looks like it may continue on up then I would wait and see how it goes and maybe even wait for the day session before shorting. However, if I think the high was made in the night session I will not hestitate to short in the night session. Whatever, happens if you take a short position on a SS day always be flat by the end of the day. That is Taylors rules. If there is no decline then pass on any Taylor trade for that day unless you have a mechanism that lets you recalculate the days on a the fly and work on the new info. My scalping techiques .....well most can be found in Brooks 3 volume set. One can then make minor modifications/adjustments. Anyone interested in scalping 1 to 3 points multiple times per day ....well I would strongly suggest they study Brooks well. Read his books several times. Don't buy his first book. Very hard to understand. Go to Amazon and order his new three volume set. You can also get them on PDF from Wiley Books, I believe. Mark them up. Study them for months. Next trade his concepts on a sim for 3 to 6months every day until you can get convinced. Then go live. He claims all you need to make money in the markets are in his 3 volume set. That is a bold statement. But, he is correct. However, it does take time and practice to get good at it (Brooks methodolgy). Don't think you will read the 3 vol in 3 weeks and start make money trading. You will have to study his techniques over and over and trade on a sim over and over until they become second nature. Please don't forget to use the 89 SMA and the 20 EMA if you scalp. The first is a concept I give you to help in scalping. Please use it. Don't just trust your eyeballs. Watch the relationship between the 2 MA's, their relationship to price and the distance they are from each other and from price. They tell a story about the trend and you generally want to be scalping the trend. They will give you some confidence if you feel a bit disoriented one day while scalping. If you scalp counter trend then you better be nimble as jack on your feet and don't take much. Grab what it gives you and move on. Scalping WITH trend produces much more high probability, and safe scalps. To Learn Classical Tape Reading then read and study: 1) Tom Williams (The Undeclared Secrets that Drive the Stock Market on.. the net as a pdf or buy his book Master the Market..you don't need the VSA software. Just learn the concepts) 2) Gann (the Truth of the Stock Market Tape..can be gotton at libraries) 3) Tape Reading for the 21st Century by Cliff Drokes..buy directly from his website as Amazon will charge you an arm and a leg. Cliff has it for under 20.00) 4) Brooks books for a view on what I would call classical tape reading bar by bar (thats not pub by pub for you UK people) using candlesticks. Of course, his books also to learn great scalping techiques. He also has a website ..brookspriceaction I believe it is. 5) Rollo Tape and other books by same author 6) Of course, the Livermore Remin. book is a great read and worth reading multiple times 8) ARMS Equivolume for some concepts on Volume. I think there is a ARMS website with some free downloads. One download is called Armsbookwcontents.pdf. I don't remember the site. If you can't find it with google send me a private message and I will help. 8) Finally don't forget Taylor. His book can be found at Traders press but I also like the pdf version (can be bought at Traders press and much cleaner than the free scanned version floating around on the net) and use the free PDF-Viewer program (google download and install) to mark it up and make notes on my digital copy. My hard copy is falling apart after so many years of reading and marking. All of the above are worth studing to learn the art of tape reading from a chart as opposed to tape reading on the DOM or time and sales..etc. These concepts propounded in these books will help you tremendously in developing a skill for tape reading from a chart which will in turn help you pick correct entries for Taylor trading. If you pick wrong entries for Taylor trading you will be forced to go through big drawdowns. If you get the day of the cycle wrong you won't make as much money as you could have made but Taylor will still work for you. I just can't stand big drawdowns. I do not like the pain. I grovel over a substancial loss.. paper or real. I hate losses.. paper or real. I know I have to accept them but STILL I do not like them and try my hardest to have as few as I can but when necessary I will quickly take a small loss knowing I can always get back in. And small losses don't eat at me. I have had my share of big losses in my journey and they eat at me for days and weeks on end. Tape reading from charts is a skill that takes time to develop. Give yourself 2 to 3 years to practice it well. But, you need the basic concepts planted in your brain. The books I just mentioned will give you those concepts. You have to plant them in your own brain. Nobody else can, or will, do that for you. Once they are planted there, and you have practiced them long enough, they will become second nature..like riding a bicyle. You will not have to think about every concept. Your brain will drive the car and do that for you. But that will take a few years to develop IF you work hard at it. But, the payoff is worth the effort. One more thing. Pick one or two things to trade and learn those instruments well. Do not jump around from market to market. Pick one or two as you plant the conepts in your brain and practice them. Why? Your brain will automatically learn the style of movements in those markets and will begin to correlate the concepts you are learning and apply them in that particular market. If at first, while learning the concepts, you jump from market to market it will take you much longer to learn how to apply them. After a few years you will be able to apply them in most any market. Spend alot of screen time just watching your one or two markets with nothing but 5 minute chart and the two moving averages, with volume. Please overcome any "I don't need volume to trade mindset"..Alot of that is out there on forums but please just think about it. Volume represents money..big money. Why would you want to ignore that element in your trading? Don't try to trade at first. Just get the screen time in. Hours and hours. Days and days. You are training your brain to pick out the patterns of that particular market. Then, when you begin to apply the concepts you have been studying you won't have to be conciously trying to decide if this move will continue or not. Your brain will let you know the probabilities. Get alot of just screen time in. If you work a regular job just record the sessions and watch them on weekends over and over...not even trying to apply watch you are learning. That will come later. You are just training your brain to pick out and read the movements of one or two instruments. Later you will apply what you are learning on a sim and then after that live Look guys if I can do it most anyone can. I didn't finish college. I read alot but but am not that smart. Really. Just your average bloke as you people in the UK might say. Trade well, see you around.
  36. 1 point
    smmatrix

    Best Automated Trading Platform

    There's no future with those automated trading systems. They are made by marketers to grab your money, not by traders. Trading is hard work. Trading is an art which must be mastered over time. In all my trading years, I have seen many automated systems. They all crash and burn at some point, however, there were two systems that showed promise... They had huge drawdowns which exceeded 45%. That's a deal killer for me as my maximum allowed DD is 15%. It's best to learn how to trade "manually" first, as a profitable trader for several years, before you consider automation. Just sayin' My two centavos.
  37. 1 point
    jaaks

    Why Do More Than 90% of Traders Lose?

    Traders lose primarily because the primitive part of the brain is wired to avoid loss and the primitive brain makes all the decisions. Once we incur a loss trading, we try to recoup the loss. This usually means riding the loss down to greater losses until the pain gets too great. Then we bail at a huge loss, with a lot of emotional pain. This loss is burned in our memory and subconsciously we we start trying to get the money we lost back. Let's be clear. This is occurring subconsciously. You are not aware it is happening. That is why you repeat the same behaviors, and lose over and over again even thought your higher brain know it is wrong. By the way, the higher brain will think of sort of excuses to justify the primitive brains actions. None of which are true. How do you counter this strong, unconscious force? First you need a plan. The first part of the the plan is cash management. You need goals based on the type of trading you are doing. You need strict loss stops above all, how much money you are willing to lose for the type of trading your are doing and if you hit it, you are DONE! The same go for profits. Once you reach you profit goal, never, never lose it. You can keep riding the the profit train in the market let's you but if it reverses and returns to your min profit level, you are OUT! Once you have experience in the market, you can alter the latter part by taking partial profits and increasing your position size for really obscene profits but never, never violate your daily loss rule. Never. Keep a log and study it. You will find the best ratio of win to lost based on your trading style. Why is the stop amount so important other than the obvious? Because starting out, you are likely going have more losing trades than winners. But you can still make money: Say you set a stop at $100 and it cost $2.00per buy and sell and the slippage is $.01/share and you profit goal is 4 times your loss amt. This means you could lose 3 times for every win. A 75% loss rate in trades. After 3 losses, you will have lost $312 + the slippage. That amount is based on the number of shares. Let's say it is 300 shares. so the slippage is $3. So your total loss is $315. The next trade in profitable, so you gain $396. You have profit of $81. If you do this every day, your profit is $405/wk. Couldn't live on this amount in America, but by increasing the amount, you can get to the point you could. But the best way is getting a win / loss ratio greater than one. Then you really make money. The only way to do this is accumulating trading time. If you could get to 3 wins for every loss, then your gain per day is 873 or $4365/wk. You could live on that! Note: this would be a very good winning ratio and depends on the stocks you trade and the type of trader you are. The fist part of your plan is cash management. The next is a plan of when to buy, when to sell, when to take profit, when to increase your position size. Is there one better than another? Yes, depending on the type of trader you are and the market. Also different plans are needed in different market phases. But every plan fails if you don't relentlessly stick to it. Never vary, never vary, never vary. You can alter your plan when you are not trading, but while you are trading, sick to it. Is there a fool proof trading method? No. If there was, that method would soon get all the profit in the market and everyone would use it, resulting in it's failure as the rules would now have changed. Anyway, if you had a system, would you let anyone know about it? Not likely! At best, you could come up with something that work for the market conditions at that moment but would fail when the conditions change. "The market is always the same, the market is aways changing." There are plenty of adaptive black box systems that supposedly are using fuzzy logic and neural programming. From what I know, their ratio is 35% winners, 65% losers. And they make money hand over fist because they have strict rules and they never vary from them.
  38. 1 point
    Hey, So I am not being discouraging by saying this. But, if you are dealing with such small intervals and tp and sl 3 pips, it is going to be very wise to break down price further. I am getting ready to set up a tick depository and plot the results vs a milisecond time graph and monitor the rates of change between ticks, I think the most important thing before you start your research is to determine what market conditions are conducive to this type of trading style, because we know that there is no one system that can trade all markets. So it is important to make sure you find a time and place where your system will succeed. In my own opinion and from my scalping system I am building, I think range-bound markets are the most conducive for scalping type trading. A range is characterized by a failure of higher highs and lower lows, and looking for price swings almost like a sin wave. of course it doesn't always look like that but with what your looking to do, i think it would be wise to take a range bound indicator and then try and predict short term price moves by using a combination of time series analysis and using rates of changes of different intervals to look for price movement in different directions. because with your current setup the only recommendation i can make is to make sure you use oanda as a broker to keep your spreads as small as possible.
  39. 1 point
    GlassOnion

    38 Steps to Becoming a Trader

    Shuanna... Are you from the Planet Vulcan, where they don't have emotions? Lol...
  40. 1 point
    Mysticforex

    Joke of The Day!

    How many Psychiatrists does it take to change a light bulb?................... One. But the light bulb has to really want to change.
  41. 1 point
    Ingot54

    Joke of The Day!

    Young John had just completed high school in the bush, and was off to the city to college. He had a faithful cattle dog, 'Bluey', and insisted on taking the dog with him. Of course, the attractions of city life were quite new to John, and during his out-of-college time, he spent-up rather big on enjoying it all. Eventually, the money ran a bit low, and John was a bit short. He decided to ring his father for a little advance. "Hello ... Dad? You will not believe what is happening here - Bluey is learning to play the piano." "Go on, son. You're kidding me!" "No, Dad, honestly - you should hear him. But the dog teacher had to be paid, and I am a bit short" "No worries, John. The cheque's in the mail." Well time went by, and John again got a bit short of money, and he decided to ring dad again for some money. "Hi Dad. Bluey is so advanced that he is now playing the piano and dancing at the same time. He is a big hit down here. But the extra lessons are not cheap." "Don't worry son, the cheque's in the mail. It's a good thing you got going there with Bluey." John was happy until the day came for him to go home. He knew he had to face the family with a dog that could neither dance nor play the piano. The day he got off the train, Dad was waiting there to meet him. "Where's Bluey?" said Dad, "I was hoping to watch a performance." "Well Dad, Bluey became so advanced, that he began to talk. We used to have long conversations about the things we've seen and done. One night he told me about you and that little red-haired sheila down at the pub, and he told me what you and her ..." "Crikey, John," interrupted Dad, "I hope you shot him!" "Yes, Dad, I did. I sure did. "
  42. 1 point
    Mysticforex

    38 Steps to Becoming a Trader

    Hi winchie, You don't mention what type of trader you are, or plan to become. There are many good books out there. For technical analysis, I keep a copy of "Technical Analysis of Stock Trends" by Edwards and Magee on my desk. It's not a read thru kind of book, but a great reference book. Although the word "Stock" is in the tittle, TA is TA, and can be applied to anything you can put on a chart. From there you can look for something more subject specific, VSA, Candlesticks, etc. For Motivation and Psychology, I like, "Market Wizards", "Trading in The Zone", and Millionaire Traders". Surely others will chime in with their thoughts.
  43. 1 point
    cuttshot

    Trading for a Living

    davey, It is very important that you focus on building your account before even considering taking any money out. Trading full time on a $10,000 account just wont cut it. You can start with a small account but you need to leave the profits alone. Pulling money out right away will just lead to you spinning your wheels. How much money you pull out and when you do it depends on your lifestyle. Keep in mind there are fees when you pull the money out so you don't really want to be doing this too often. I have found it best to start with a budget for yourself. This way once you have built your account size up to make a living off you can pull the minimum amount out monthly/quarterly to cover expenses. The budget will also help you guage when it's possible to trade full time for a living. You should make sure you can make money for an extended period of time before you consider going at this for a living. Making money for 2 months in a row will not guarantee future success. You could run into weeks or even months where you don't make any money. Hopefully you are using a system that doesn't let this happen very often but it is possible. You have to make sure you are able to ride these times out. traderwill gave you some great advice. Having a successful system in place is very important. I would also recommend getting that budget in place so you know what you need to make in oder to cover expenses. From there you will be able to schedule your withdrawals.
  44. 1 point
    suriNotes

    KOSPI - Rangebound Trading

    Hi Soultrader, Here is KOSPI 200 Index ABC Chart update... Regards, Suri
  45. 1 point
    Soultrader

    IB Range Indicator for CQG

    A simple study for CQG plotting the 60 minute (initial balance) high/low. This works only on a day session chart. Once imported and applied to a chart, right click on the two lines > modify > and change the line to dash. Screenshot is attached. Enjoy! IB Range.pac
  46. 1 point
    Kiwi

    Woodies CCI technique.

    Lets get real. The CCI does provide the basis for working trading if its used properly. First: what is required? People trade with the trend or countertrend. Lets say that trading with the trend is easier (longer moves, and more forgiving because if you get your exit timing wrong the retracement frequently won't reach your stop before the move continues, although obviously a trend will finish or do a larger timescale retracement at some time). When you trade with the trend you either hang on trailing stops or you exit at targets that (for most people and strategies) should be at least twice as big as your planned losses. So, can Woodies' use of the CCI help with this? Yes. Its a trend following indicator (its just the current price minus a CCI length simple moving average divided by a normalizing factor (so that reaching 200 is similar to reaching the 2sd bollinger band ... similar)). If you wait until its above zero for a while then the chance is you have an up trend. If you wait for a pullback to zero or a little below you have a pullback of sufficient magnitude to feed liquidity into continuation. So you buy. Then you have to exit. How? When it hits the 2sd bollinger (200cci) or when it pulls back from that perhaps? etc etc So basically Woodie has taken standard reasons for entering and exiting a trade and framed them around a 14sma and 6sma based indicator. They can work. Do most people succeed with them? No. Do most people succeed with any trading method? No. Is it the best method? No. Most would do far better understanding trend, support and resistance, and price action (and where it and volume action are relevant) than messing with the cci. But is it that wcci doesn't work? No. So what has to change? Study price based methods and yourself. In simplicity and understanding lies the holy grail.
  47. 1 point
    Sledge

    Edge VS Mentality

    Do you know why their is a 95% fail rate in this business? I do. And the reasons are simple: 1. New traders are lured by this idea that "this is an easy way to riches." The Market Makers have brilliant Marketing departments and they do a stellar job- believe me I have a B.S. in Marketing and over a decade in the field- I know good marketing. They shoot fish in a barrel. They tout short term trades. They WANT you to scalp for two reasons. One is the more trades you take, the more commissions they make. Secondly, Marketers are trained with psychology- they know what makes you tick- they know people and how they work. They know that even if the long term trend is bull, human nature to a "get rich quick" minded person will take tiny profits out of fear. 2. After they have baited you into doing something as silly as opening an account with $250 being as green as an Irish countryside- letting you overleverage the crap out of yourself- they part you of your $250 and hundreds of others. Knowing psychology again, they know that most people with be revengelful- they will fund the account with another $250 and take another crack at it- this time, they have you even MORE by the short and twisty's because you are pissed and want to get your first $250 back. They take you to the cleaners again! The cycle repeats over and over with millions of "get rich quick" greenhorns. 3. If after you have blown two accounts, and still want some more- you then set out on your search for the "Holy Grail." You start picking from the list of the 1000 indicators that your broker who just cleaned your clock TWICE gives you. "Must be a gift from the trading gods" you say- "all the answers are right here" you think- so you apply them, try them and eventually get parted from even more money. 4. If you are now beaten down for the third time- you can either A. Keep fighting the good fight and demo trade until you finally get it right or B. Give up on the markets all together. 5. If you choose A, you will study and learn what the markets are really all about, you will search not for "The Grail" but for the reasons the markets do what they do. You will search to find out how to read a chart instead of trying to take trades when one line crosses another or some Indicator tells you it is time to pull the trigger. You will take the hard road and work long hours to get to an edge. You will make money with your edge, and sometimes you will want to tweak the edge or realize that you can have multiple "edges" to draw money from the market. You will look at the market from a completely different perspective than you did when you started. You know that the market is not "out to get you." The market is there to do what it does- and either you are in harmony with the movements- or you are a dead man walking. The lesson: This is a hard road, this takes time, this takes patience to learn, this takes dicipline, it takes blood, sweat and tears. During your learning phase you will either crumble and give up, or you will have the heart to plow on ahead. 95%of people fail in this business because they don't have the balls to do what it takes to succeed. They don't have the gumption to fight through the learning stage to make it. PERIOD! Aaron
  48. 1 point
    james_gsx

    Candlesticks and Volume

    Glad to see this finally come up. I've been very interested in combining other types of analysis along with candlesticks such as volume and MP. Heres one quick trend play that you could do using WRBs. As we know, typically a WRB is followed by an easy short to scalp, but if you use volume with the WRB then you could probably get some nice setups. 1 - As you can see we start off with a WRB, and lets say you want to go for a quick short at the exit OR wait for a candle to go short. For textbook style play let's just say we went short at the close of the spinning top that immediatelly followed. This is an ideal setup because the volume of the spinning top is nearly identical to that of the WRB. This will make it easier for some of the newbies. 2 - Two candles later we have a test of the WRB open or low. You can exit here for a quick profit or you could see that volume has been declining. We have smaller bodies and taller wicks, but the lack of volume would tell me theres no interest in demand as it is quickly shoved back down. So we could move our stop just above these wicks to protect our profits. Then we get a rise in volume, and a candle that breaks through those lows this would be our confirmation of a new trend. 3 - Now we get a hammer and volume as been slightly rising. Since there is a nearby support level we may be tempted to exit this trade and take the hammer. If we did that, we still have a nice profit and obviously the hammer would have failed. No big deal, thats life. OR we could have waited until something more meaningful to a trend appeared like a MA crossover, oscillator, or a hammer with STRONG volume. For the sake of hindsight and textbook style play let's say we waited. A few candles later we get a hammer with STRONG volume (similar or more to the WRB). That obvsiously screms that buyers are present. We happily exit the trade and go the other way for our hammer setup, and walk away with a new sum in our bank account. Now to be fair this isn't a setup where you see a spinning top after a WRB and assume you can nail near 20pt ES trade. BUT if you started with a simple 2pt play and closesly followed volume you could have turned that into a nice trade. For the sake of argument and realism, here are a few losers in the same day. Heres another play we could have used. 1 - Clearly defined hammer after a WRB and volume is very similar. 2 -Next we get a follow through WRB with strong volume. Typically I think we would have taken the hammer and a quick profit with the WRB and been happy. Or we could let volume tell us that buyers are still heavily present in the market and hold onto the trade from here. 3 - Our trade continues to move higher and we eventually test the long term MA. Knowing this is a counter trend play I think most would be disciplined to take their profits here. Just in case this doesn't happen the high volume inverted hammer would tell us the bears quickly counter attacked with equal force keeping price down. So you could take your profits at the close of this inverted hammer and still had a healthy trade. Or else you would have waited for the spinning top with low volume to tell you the move was over. So overall I'm starting to see a pattern of nice candlestick patterns following WRB with EQUAL OR MORE volume. How a trade could possibly setup. 1 - Reveral candle after WRB witih equal or more volume. If I'm not alread scalping for a quick reversal of the WRB then enter on the close of the reversal candle. 2 - Wait for a signal such as an oscillator, moving average, or another candle (with strong volume like the WRB) to exit my trade. I think this would be a trade that would have to materialize, I don't think you could just see it happen in real time and take it. But I do think it would go along with what you said earlier about taking a typical setup, and using volume expand on it and capturing a bigger move. I think this is a good start though. Once I feel more comfortable with my knowledge of MP I would love to start a thread combing candlesticks, volume, and market profile into one setup. I believe if we could blend a lot of these great analysis together we could have an extremely efficient trading plan and one that we could use to expand our careers. I also don't think volume is something that would complicate our plan, just compliment it
  49. 1 point
    Anonymous

    [VSA] Volume Spread Analysis Part I

    Welcome. There is more than one definition for No Demand. In the book the base definition is given as a narrow spread bar closing up with volume less than the previous two bars. The Trade guider definition, also in the book, is a narrow spread bar closing up on volume less than the previous two bars AND closing on the middle or low of its range. Joel Pozen would define a No Demand as simply any bar closing up with volume less than the previous two bars. Or a bar closing equal, on volume less than the previous two bars with the previous bar higher than the bar two bars ago. Still others would include any buying bar (a bar with a higher high, but not a lower low than the previous bar) that has a narrower range and with volume less than the previous two bars is No Demand. If it closes either up from or equal to the previous bar. The underlying element is volume less than the previous two bars on equal or up closes. Note if the close is down and the we have a buying bar with the close on the low, the we have a hidden Upthrust in the form of No Demand. Sorry, I don't think I have really answered your question. I guess the reason is, the question you should be asking yourself is "How am I comfortable defining No Demand within the context of market behavior and amidst the various possible elements set forth?". I have added this beautiful pic from Monday. Note the two No Demands on the right of the Dotted line. The first one obviously closes on its high and has a smaller range than the previous bar. Plus it has volume less than the previous two bars and is a buying bar. The second one has a greater range than the previous bar and closes near its low. It has volume less than the previous two bars. It is a buying bar (positional relationship), but the low closes signals no real buying going on. This is a Hidden UpThrust in the form of No Demand. TG software would NOT pick up either of these.
  50. 1 point
    sheptrader

    [VSA] Volume Spread Analysis Part I

    Hi Gordon G, remember weakness apppears on up bars not down bars, you have marked all down bars with volume less than previous two not up bars. so simply put,. down trend looking to go short look for weakness in up bars up trend looking to go long look for strength in down bars regards sheptrader
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