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Showing content with the highest reputation since 07/16/18 in Posts

  1. 2 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
  2. 1 point
    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.
  3. 1 point
    samuel78

    New To The Community

    Hi, all I am Samuel new to the forum and very much in love with the forum Hoping to make some new friends here. Thank you.
  4. 1 point
    mitsubishi

    Knowing the Direction of the Market

    NO ..............................................................
  5. 1 point
    zdo

    ,,,just Sayin...

    Reflexivity So let’s go ‘beyond’ ... Yet if you review his trades, including normal trades and his outlier ‘country killer’ trades, and dig a little bit, rather than developing a knack at ‘narrative trading’ it turns out in each instance he had agents providing inside knowledge previous to the emergence of the situation, and he then spent considerable resources buying influence to manipulate each situation to the trade’s advantage. Rich and famous, he “felt obligated” to write books about it, but (What I’m just sayin’ is) - he is lying in his books. If some permutation of the concepts have not already occurred to someone engaging in narrative trading, the term and concepts of Reflexivity may help one conceptualize narrative trading better and maybe even help to participate more fully in the middle of moves... but they will not help in (instigating) and participating at the beginning... or in pressing and assuring that the outcomes go to extremes ... and the painful truth is many trend traders go broke 'successfully' participating in the middle of moves.
  6. 1 point
    Yeah! That's my pleasure
  7. 1 point
    zdo

    free dumb

    Are you constitutionally illiterate? https://www.rutherford.org/publications_resources/john_whiteheads_commentary/suspending_the_constitution_in_america_today_the_government_does_whatever_it_wants ... btw, the 'statists' started whittling away on the 'constitution'/ concept on day one... centuries ago... no surprise 'it' is in jeopardy now...
  8. 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
  9. 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
  10. 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...
  11. 1 point
    "Moving Averages, Oscillators, Woodie Are the only indicators that i like to use for trading.
  12. 1 point
    Gamera

    Testing Times.

    Actions for the 31st. Volume seemed to be all over the place along with the PA.
  13. 1 point
    Gamera

    Testing Times.

    Actions for the 30th.
  14. 1 point
    Well there you go nameat. Follow that and you will trade "without bearing any loss"
  15. 1 point
    WildPete

    Reading Charts in Real Time

    Hi folks...Another shot at this GBPUSD long (if triggered). God Bless.. WP
  16. 1 point
    Hello forum members I am Rikita Bhave, want to share my trading experience
  17. 1 point
    Today Indian Stock Market moved down on ending session. Tomorrow is the day of big quarterly results. Three companies of Nifty index, Bajaj Finance, Bajaj Finserve and Kotak Mahindra will announce their quarterly results. Mid-cap companies like Aditya Birla Money, ABB India Limited, D.B.Corp Limited, GNA Axles Limited, RBL Bank Limited and Sterlite Technologies Limited will also announce their results.
  18. 1 point
    WildPete

    Reading Charts in Real Time

    Stopped for the full -1R. God Bless.. WP
  19. 1 point
    MaxPastukhov

    Forex Trading Vs Stock Trading

    I invested a lot of time looking for profitable traders before getting into the niche. Something around 2-3 weeks of 12+ hours a day just to find somebody whose words I can believe enough to make any conclusions. I must say that I found profitable and believeable traders in both markets, but stock trading had much more of them. I found just 2 full-time Forex traders whose words I can believe. They don't sell any services or products, they just live from trading of their own accounts. Both of them are tired of trading. As for the stock market, there are a lot of people sharing their results publically. I found enough to make my own conclusions. There are also a lot of people who finally moved from future to stocks. It's just more profitable at the end. While Forex may seem more profitable at the very beginning becauase it's so volatile, the truth is directly opposite. Forex isn't "volatile", stocks are much more volatile by their nature. Forex gives you an illusion of volatility due to insane leverage. Taking into account average daily range of 0.1%-0.5%, you are trading purely noise. Being a software developer, I created an internal statistical analysis system to build price movement distributions. They are so close to white noise distribution you will be surprised. As for stocks, movements have clear signals in them. Yes, there is still a lot of noise when you are day trading, but just look at higher timeframes too see the difference. I would personally prefer stocks, I plan to convert my first product to stock trading simulator in the future. Forex is a good way to learn initial trading experience as long as you trade penny accounts, but I would stay away from it if I decide to get back to trading again.
  20. 1 point
    WildPete

    Reading Charts in Real Time

    No trigger on long GBPUSD, pulling Buy Order. God Bless.. WP
  21. 1 point
    WildPete

    Reading Charts in Real Time

    Another potential Stab at the GBPUSD Long (if triggered). God Bless.. WP
  22. 1 point
    WildPete

    Reading Charts in Real Time

    Adjusting Stop to 1.3202...just below entry.
  23. 1 point
    Jason Solomon

    Which indicators you like and why

    I use Fib tool+moving average combo and RSI most often. But have plenty more to experiment with :P
  24. 1 point
    Hello everyone! I am very new to this forum. I find this forum really interesting because of the community here is really active and they respond to the thread accordingly. I am really excited to share you guys my thoughts, knowledge, and experience in trading. Happy trading everyone!
  25. 1 point
    Prakash

    Best Candlestick Book / PDF??

    Profitable Candlestick Trading (2002) by Stephen W. Bigalow
  26. 1 point
    JohnyIve, Please design and write us "some tips, or links for beginners". Thanks
  27. 1 point
    bakrob99

    Trading With Market Statistics - LINKS

    I have put this thread together because I wanted a place which had all the links for J.Perl's TRADING WITH MARKET STATISTICS threads for easier access. Trading With Market Statistics I. Volume Histogram Trading With Market Statistics.II The Volume Weighted Average Price (VWAP) Trading with Market Statistics III. Basics of VWAP Trading Trading with Market Statistics. IV Standard Deviation Trading with Market Statistics V. Other Entry Points Trading with Market Statistics VI. Scaling In and Risk Tolerance Trading with Market Statistics VII. Breakout Trades at the PVP Trading with Market Statistics VIII. Counter Trend Trades in Symmetric Distributions Trading with Market Statistics IX. Scalping Trading with Market Statistics X. Position Trading Trading with Market Statistics XI. HUP
  28. 1 point
    johnnydaymon

    TTM Wave a B C Indicator Code

    Here you go Derek !, the function and A,B,C Function - mbC.txt TTM Wave A.txt TTM Wave B.txt TTM Wave C.txt
  29. 1 point
    Atti2dTrader

    Reading Charts in Real Time

    NZDUSD reached its profit target. Best, AT
  30. 1 point
    The longer one lives, the more one realises that most people don't know what they're talking about. The longer one trades, the more one realises that most 'traders' don't know what they're talking about.. If you've traded successfully any time between March 2009 to the present day you've done really well. But you've never traded through a bear market. People who believe that 1-2 years is what it takes are kidding themselves and giving false hope to others. People who think like that won't be around to talk out of the back of their head come the next major correction or the next bear market. People who have traded 1-2 years oughta STFU and worry more about how they are gonna survive the next 1-2 years. There's a difference between making money and always being able to make money. Same as there's a difference between those who trade and those who call themselves coaches while they publicly admit to making rookie mistakes.( You know who you are and why you're on my twat list) A difference between those who trade and those who write articles full of generic useless crap advice.It's almost impossible for a real trader to write crap. A difference between those who trade and those who write articles full of generic useless crap to generate customers. The last thing most real traders want is customers. My advice to beginners is forget it. You have to be a certain type of person to succeed. Maybe consider doing it as a sideline, don't do what I did, don't let it consume your whole life unless you're that type. Don't kid yourself that you're the 'type' just 'cos you want to quit the rat race. Or because you have a high IQ or because the neighbour does it and if he can, you can. Or because you paid $6000 for a seminar.. or 100 other reasons. There's only 3 things that count- Sheer bloody minded persistence Time served The ability to become someone else when you're trading. - Hence the bullshit advice about finding a trading style that fits your personality. The only trading style that counts is one that makes money. There's a trading style for- wreckless people impatient people obstinate people people who think they're smarter than the market. people who think there's a short cut I can be impatient and obstinate at times, just not when I'm trading. I back tested my personality to see what worked and what didn't There's a price for everything and the price for trading for an income is pretty steep in terms of time- forget money, any intelligent person can get money, but you can't get the time back. Then there's the reality that nobody in your life, including your family has the slightest interest in what you do. I have a brother who resented me when I was failing and resents me even more now. Most people think the market is a casino full of crooks and people who make money by contributing nothing to society. You can't really blame them can you?. If you succeed nobody is pleased about it except you. Nobody will know what you had to go through or appreciate how difficult it was- except another trader There's a story I'm reminded of about Richie Blackmore that Jon Lord tells. They're coming out of the dressing room to play a show ( Rainbow, not Deep Purple). As they go down the corridor Lord realises he's talking to himself and he turns round to see Blackmore is having a mini breakdown " I can't stand this anymore, I just want to go home" You think I'm talking about a losing trade? I'm not even taliking about the trades. In terms of mental effort there is zero difference between a winning/losing trade. I do this 'cos I'm driven to do this, because there's nothing else I want to do. And that's a form of self imposed prison. Is there anyone in a prison who doesn't want to escape? So why don't I stop and go do something else? Because I'd only go and build another prison somewhere else. Because I'm that type, because I'm not Bob. An ex girlfriend years ago had a friend Julie and her husband Bob. "Bob works in a factory and only earns £250 a week" "Yeah, but they're happy and Bob goes home at 4pm and doesn't work weekends. I got customers, employees and 10 hour days and wondering where the next contract is coming from..." So, I'm in a much better prison now- no employees or customers..... hmmm not so bad after all.
  31. 1 point
    mangolassi

    Forex Broker

    Are you serious with this post? Name one institution that trades with MT4. MT4 is a joke that is used by beginner forex traders for two reasons: 1) it is free, and 2) it is very simple to use. Institutions that are managing large amounts of money use custom platforms that are tailored for their needs, especially if these institutions are banks trading currencies with each other. MT4 doesn't even meet the standards to be called a serious retail trading platform. Comparing MT4 to something like Sierra Chart, Multicharts, Tradestation, etc., is like comparing a plastic tricycle to a Ferrari. I am going to go ahead and call you out on this - if you really think MT4 is the "best platform" you've ever tested, you have only used MT4. Tradestation and Ninjatrader and others like Sierra Chart and Multicharts are used by a large amount of professional traders who trade various markets like futures, stocks, commodities, forex, etc. MT4 is simply used by beginner forex traders. I'm sorry, but MT4 is one of the worst trading platforms out there. You won't find any serious professional trader using MT4... if they are using MT4, they are usually a beginner still new to trading.
  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
    My biggest loss was time. Time spent looking at the wrong things, time spent trading without a plan or without real understanding of what was important, time wasted on indicators, etc. then time unlearning all the nonsense I had picked up. The money comes back with interest, but you can't ever get that time back.
  34. 1 point
    First of all I am not an amateur, having obtained an education in this area... The idea that people "engage" in self destructive behaviors is (as with most things that people post here) is misleading....generally people simple LET events overtake them, OR they are unwilling to accept responsibility for behaviors that produce a negative result, because they are too lazy (pure and simple)..to do the hard work of correcting themselves... The fact is that life in general is a struggle, and those of us who have made it to adulthood figure it out at the appropriate time (late teens, early 20's) and adopt an adult appropriate view of the world. The rest fall along a continuum where they may or may not possess a realistic adult view of the world, AND as a result of that immature world view, they believe (wholeheartedly) that the world "owes them" certain things.....then "when not if" the world doesn't cooperate" its NOT their fault....ITS EVERYONE ELSE..... Although its not politically correct, I believe these folks should get a brisk kick in the ass (or perhaps join the military and have someone else apply a "brisk kick in the ass" to them) until they "get it".... The subject is near and dear to my heart because sites like this one attract adult children like magnets (all asking the same questions over and over)...."why do so many traders (fill in the space) blah blah blah... And for the person who suggests that "all animals" do this....ah no....you see in the animal kingdom, "engaging" in self destructive behavior results in their DESTRUCTION.....there is an Darwinian process that prevents that kind of behavior from continuing along a genetic line.
  35. 1 point
    That's a really great post, Berzerk - thank you for taking the time to write it. I am certain there is something in there that will make a difference to how I see the markets, and handle them. Particularly I like your way of dealing with the risk of whipsaws, and trading with strength. However ... I gave my reasons for quitting: I am realistic, Berzerk. Even if I won 9 trades out of ten, do you think I would be able to generate the kind of income I planned for 9 years ago? I know that I would not reach a success rate of 90% ... and I am under-capitalised now, having blown two major accounts in my second and third years at this. After that I became more focused and committed to finding out what works and what does not. But the markets have continued to evolve, and I have had to accept that I am simply not suited to be a trader. It's not hard to accept that - the evidence is there ... plainly ... and all the thousands of posts I have made, and the hundreds of thousands more that I read, have not changed my bottom line one teeny bit. The losses roll on. I do not regard myself as short of thinking power - it is something else that I lack. But I am smart enough to know that, and to quit. The retirement I hoped for may not arrive - that's life - but I did give it a decent shake - no one can take that from me. My foolishness was in thinking I could trade and make enough money to replace my day job. I am not/no longer seeking a working strategy - I am no longer committed to "being a trader." And I am certainly not interested in words of pity/condolence etc - we are adults and make adult decisions. This is simply a nice way for me to move on, and probably the thread was an attempt to share another point of view with someone who may have also been at a tipping point, and just maybe something they were able to see here could have made a difference. I don't know. Your post has not been in vain though. As I mentioned, I will consider carefully what you wrote, and see if there is something I overlooked in my 9 year journey. Clearly, I have missed it ... but the question is for me: Can I exploit this art so that it is worth my time and energy. Would it be worth it for me to give up other things in exchange for making a little more from trading than I do? Will it ever be more than gambling? I have had to face those answers - and they are not in the affirmative at this point. What I am going to do now is write a couple of novels - this is a passion for me. Maybe you would like to buy an eBook from me? :missy:
  36. 1 point
    WHY?

    Beyond Taylor

    Taylor is basically catching the main move on a daily basis so you would use the daily chart to tape read for the general move you are wanting to catch per the Taylor 3 day cycle methodolgy. The daily chart would be used to confirm the integrity of the 3 day cycle. Lets say the daily chart on a SS day closes weak. You would expect a weak open on the next day and a possible continuation of the slide down. But, the next day is a buy day. So you are looking to go long after the slide down stops providing it happens early in the session. So it may open on the buy day at the low of the previous day (SS day) since it closed at its low on the SS day). Just because the open on the buy day was at the objective doesn't mean you immediatley jump in. Why? The market close weak on the SS day and that weakness might continue on down some on the buy day before any rally starts. It could trade right through your objective point so you want to wait for the intraday move down to stop before taking your long entry. So you would want to tape read intraday looking for the entry point. Remember, Taylor gives the general expected moves in the 3 day cycle. The daily tape confirms the cycle. The intraday tape determines the exact entry. So, to fine tune entries and exits you tape read intraday. So, if it is a buy day and you know the objective is to go long at or through the low of the previous day if made early in the session then you would want to tape read intraday perhaps on a 5 minute chart to fine tune your entry remembering that the daily chart showed a weak close on the previous day SS day. So you go long when you see a reversal after the objective has been reached or surpassed. Just before the reversal the market may stall and become "dull". But you do not want to jump in unless that dullness turns into a reversal because you don't to go long in a downtrend on a dull spot especially, if the dull spot is a pullback. If the dull spot meanders sideways for several bars ESTABLISHING a sideways range then that is generally good and indicative of it breaking out north when it does breakout because some buying is taking place before the reversal. But one would wait for the reversal to actually take place before jumping in. If the dullness is on a fairly good size pullback without much of a sideway move (say just a few bars...3 to 5) then that can be dangerous to go long at that dull spot because most likely it will soon resume the downward trend some more... hence the old saying "never go long in a dull market in a downtrend." I hope I haven't confused the issue on "dull markets". You have to understand what Taylor mean't when he speaks of dull markets.Since he doesn't go into detail about it you have to look at other traders explanations of what these ole sayings mean't to them in that time and place. That is why in an uptrend don't sell (short) a dull spot it is referring to dull spots in pullbacks on uptrends. This will become clearer as I post more. All "dull spots have to be tape read to determine if the probabilities favor taking a position. This is all part and parcel of tape reading entries/exits. You have to tape read any pull backs or sideways movement to determine probabilities of price direction when the breakout does indeed occur.
  37. 1 point
    georg7e

    Wyckoff Resources

    I do not know if this is the right thread to post this in. If it is not, kindly move it to the right one. Attached are .txt files of the data from many of the chapters of the original course and the course available on this forum. All of this had to be manually done, looking at the charts(usually with magnifying glass), reading the text, internet searching holiday dates and trying to determine the accurate D,H,L,C,V. The dates(D), on all bar & volume charts should be accurate. The P&F chart data is based on intraday data which, to the best of my knowledge, is not available, but the charts in the course show the months along the bottom and the end of each daily session with circles around the "x". Some of the P&F files have dates included, but those dates are obviously not from the 1930's, I just used those dates to import the data into my charting software, so that I could plot it. Also, on some of the data I entered false data at the beginning of the files so that some data would plot in the beginning of the chart, so one doesn't have to work right on the left egde of the chart. Chap9_PnF.txt Chap11_BS.txt Chap12_US Steel P&F data.txt Chap13_NYT1929PNF.txt Chap16_Anaconda.txt Chap16_AnaconPnF.txt Chap17_DJU1936.txt Chap17_DJU1936PF.txt Chap17_ElecP&L.txt Chap17_ElecPnF.txt Chap17_NYT1936.txt Chap21_ATT1932PnF.txt NYT 1930-1931.txt Chap16_NYT1934.txt
  38. 1 point
    WHY?

    Beyond Taylor

    He is talking about the opening price as related to the buying or selling objectives. For instance: We know that the BEST and ideal buying day objective is to buy on a low made early in the session and one that penetrates the low of the previous day i.e. the SS day (previous session). That is, it makes a lower low and does so early in the session p 74 par 4; p9 par 6; p10 par5; p11 par4; p12 par 5; p29 par 6,7,8. So what he is saying here is that many times the opening price on this buying day will already be a penetration of the previous days (SS day) low. You can get a hint or indication if this is likely to happen by watching the "close" of the previous session (SSday). Was the close near the low of the day? Are prices in a downtrend or range? If downtrend and close near low then chances are the open on the next day will have already penetrated the low of the SS day or will at least make the low FIRST in the session. Now on days where there are HB's on a BUY day (higher bottoms on buying days p30 pr3&9) then the low on a buying day will NOT penetrate the low of the previous day (SS day) and the low that is made will generally be made late in the session, but not always. The hint for probable HB being made is when prices are ALREADY in a rally (uptrend) on a SS day and the close is high and strong on the SS day. That indicates the rally will continue up early in the session on the next day (Buy day) and when the decline starts it may not go down below (penetrate) the low of the previous day (SS day). HB's are usually profitable. With Taylor you can go long on a buy day low made first. Also, a HB on a buy day (generally made later in the session). And on a BV on a SELL day (the low of the sell day trades under the low of the previous day i.e. the buy day and does so early in the session like within first two hours of the open). On buy day you can short a high made first ideally on a penetration (to the upside) of the previous day (ss day). You may get a failure to penetrate in this case but if the objective is made first (in this case high made first on a buy day) then it is ok to short it. What is the hint that the shorting objective on a buy day might happen first? Simply a strong close on the previous SS day. That is an indication to be looking at a short position right off the bat after the open on the buy day. In summary, when Taylor says "Many times the opening price will be your Buying or Selling Objective on a penetration or failure to penetrate" what he is simply saying is that the objective is made on the open and one has to be johnny on the spot so to speak and take immediate action to take a postion or get out of a position without undue waiting around. For instance, prices are in a trading range. SS day closes low. The open on the next session is BELOW the low of the SSday. This then would be a penetration (to the downside) on the open. You would immediately look to go long. You might wait a few minutes but don't tarry. If no further breakout of the trading range to the downside is forthcoming then one would certainly look at taking a long position quickly because prices will probally soon start trading back up. The opening price MET the buying objective in this case. Basically, the statement you referenced applies to ANY objective (buying or selling) in the Taylor scheme of things. Another example: Taylor recommends going long on a buy day with a low made first and selling that long on the next day (sell day) once the high of the previous day (buy day) has been penetrated. So, suppose one buys the low made first on a buy day. All day long prices trade up..looks like it will close strong...so you hold your postion overnight. Next day price opens ABOVE the high of the previous day (buy day). You immediatley sell your long position because the objective (a penetration of the buy day high) was made ON THE OPENING PRINT. Of course, the final trigger isn't just that the objective has been met but the "tape" indicates entry and exits once the objective has been reached. For instance, in this last example say it opened higher than the previous day session (buy day) and I was long from the buy day I "may not" immediately sell (even though the objective has been reached) IF the tape indicates that prices will trade up more. This is why I have said that taylor has to be used with tape reading skills to be to be able to wring the best out of it. Maybe I have confused more? WHY?
  39. 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.
  40. 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.
  41. 1 point
    When the es emini SP gaps overnight, I've noticed something interesting about the UVOL/DVOL ratio. There is often huge differences between the Up Volume and Down Volume at the market open after an overnight gap in price. Take a look at the es emini SP on Friday 3-18-11 for example. The NYSE 500 opened with Up Volume that was 65 times more than Down Volume! A 65 to 1 ratio of up volume to down volume. On a day when the es doesn't gap overnight, the ratio of one volume to the other is normally around 1 to 3 either way. So a ratio of 65 to 1 compared to a ratio of 2 to 1 is a huge difference. It only took 3 minutes for that ratio to drop to 30 to 1 at 9:33 am. And it was 11 to 1 by 9:48 am. Those are still very big differences of Up Volume to Down Volume. The interesting thing is, that the es emini dropped in price all day. So the huge Up Volume compared to Down Volume did not make the es go up. The ratio of Up Volume to Down volume was dropping all day, and the es emini went down all day. The es didn't bottom until that ratio got back to a fairly normal range of about 2 to 1, at 3:13 pm.
  42. 1 point
    The problem is Tradewinds, when people start out they really are not in the position to make a sensible judgement on whether or not their strategy is effective and viable. You'll get a younger guy maybe being a bit rash or perhaps an older person who's been successful in other pursuits come in thinking they will figure it out. Well that just isn't the way it is generally. Good point about the commitments and responsibilities btw.
  43. 1 point
    Ingot54

    MT4 Indicators

    Here is an excellent Indicator for MACD fans. At first I was under the impression that it is a proprietary indicator, but it is listed in this MT4 Indicators site, which is publicly available: http://www.search4metatrader.com/index.php You will have to register, but they are not asking for anything except your email address. This indicator, which I have attached is available under "M" of course, and you will locate it on page 4 of the "M" directory. By the way - I have found that the best setting for it are: 4 - 21 - 1 - 5 The default settings are 10 - 20 - 1 - 7, but these can be up to 5 candles/bars late in getting you into a move. A bonus of using the MT4 site, is that the top downloads for the month/week/ever are listed on the front page, and I am sure you will find something there - even hard-to-find indies. There are truly thousands of MT4 Indicators listed on this site, which does look like an official MT4 site. Bookmark it for the future. Cheers Macd with EMA BDv8_12_31.mq4
  44. 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.
  45. 1 point
    suriNotes

    KOSPI - Rangebound Trading

    Hi Soultrader, Here is KOSPI 200 Index ABC Chart update... Regards, Suri
  46. 1 point
    Regarding MT4---I am not aware that volume information reported in MT4 is truly accurate or valid. I know for currencies that the volume in MT4 is only the volume reported by each individual broker, thus it is not really an accurate representation of what is really happening. There are many forum posts that talk about this issue of forex and volume... Since this indicator needs an accurate volume picture, I'm not sure that porting this to MT4 is the best idea unless you know that the volume in the MT4 feed is truly accurate... Best, David
  47. 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.
  48. 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
  49. 1 point
    marketguy

    Bid-Ask Tape Indicator

    mrsushi, You are a good guy. And there are lots of truly great and generous people in the trading world. I have met and continue to meet tons of them. As per Hubert and John, they are great salesmen (or at least Hubert is). Nobody is perfect. We all manipulate the facts, at times. Sure, Hubert is looking a little sleazy these days. And some in this forum will call them greedy. But, the bottom line is, are they providing a valuable service? Are people's education in trading really deepening and their results improving. We all start from the simple. We just want some arrows to tell us when to get in and when to get out. In time, after painful losses, we learn (or never learn) that it isn't that simple. We (hopefully) learn that we need to understand how the market works and we need to learn to read that dynamic movement. John and Hubert's motivations and priorities are in question. They seem to add more and more to the mix so that they can make more money. Any of those indicators (tools) they are offering can be used to positive purpose. I use some of them. But, I never use them in the often cut and dried way that those guys teach. I use them as information only. But, adding so much also muddies the waters, and I think that teachers should make it their priority to clear the waters. To help their students get to a deeper place of understanding. It has taken me over two years of indicator search/hell to start to understand that they are best used as training wheels or, at best, guides. The story is truly in the price action and volume. So Hubert, as someone who is primarily a tape reader, knows this. Yet, he is constantly pushing all these training wheels. And offering simplistic techniques that work great sometimes but can never work consistently. Getting back to your actions of posting the free indicators on the TTM site, I commended you on your boldness. I didn't think I knew knew you well enough to point out, what may be considered by some, your stupidity. Because, over all, I admire your action. Of course, they would get rid of the post ASAP. And, your relations with them are now different. And, you may be blackballed. But, you performed a service. And, hopefully, some people there took notice. We're all learning together. And your contribution (even though J and H might not like it) helps the greater community. And, in the end, that's what matters most. Whew. Long-winded response, huh? Take care. Bryan
  50. 1 point
    It really depends on the persons passion for the markets. One year is definitely not the norm. Your friend has done an amazing job in just one year. It took me 2 years of intense studying and trading to get to where I am. I was quite a journey. I would say on average it takes 2-3 years before one can start trading for a living. This is just my opinion, I am sure some may find me a slow learner.
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