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enochbenjamin
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Posts posted by enochbenjamin
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win or lose
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I am going to join this thread to try and keep myself honest. Win or lose I vow to post.
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everybody has a different take on discipline. to me its simple
- take your trade everytime you see the setup
- take your loss as soon as your wrong
- take your trade everytime you see the setup
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too funny! just made my day!
:rofl:
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If your preparing to trade bonds you might want to practice watching paint dry. That's what the past month has been like.
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I've often thought of converting our now vacant office space of 6000 sq.ft into a Day Trading Business centre where all traders would have thier own booth with 4 monitors along with various LCD's around the offices broadcasting business news and also having an espresso bar, lounge, gymnasium etc.. Kind of like a business clubAm I nuts or is this a good idea?\
Dan
what city are you talking about?
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Is this journal done? I hope not.
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Thanks! I've got it. Looks good.
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Does anyone know if there is vwap for ninjatrader?
thx in advance.
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I am pretty confident that Jpearl stated several times thru out this thread that time was irrelevant with market statistics.
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Jerry this is by far the best thread I have ever come across. You are really a rare breed - answering questions for years without asking for anything in return. You are the real deal and thanks so much for posting your ideas.
I came across this thread after having a horrible week (this past week) after CME changed the tick reporting for financial futures. I read the entire thread Wednesday night, watched the market all day Thursday and traded it live on Friday with outstanding results.
I already have market bias based upon rising/falling POC's (MP) and extensively use HUP's (virgin POC's, Pivots) as areas to trade, but your methodology provides more information and thus confidence to enter the trade.
I will be re-reading over the weekend but just felt it necessary to say thanks!
All the best to you.
e.b.
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Ladder DOM
in Forex
Looking for ECN with DOM - try MB Trading.
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If you have the time observe the 21 EMA after a big move. For example after a violent market move after a news event the first retrace to the the 21 EMA often offers a perfect entry in the direction of the move. Very low risk (4ticks).
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one reason is 34 is a mystical fib number (21 + 13)
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No good books. Trail and error seems to be the best way to learn em. Try a demo account at Cannon Futures.
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Why wouldn't you trade grain anymore? Based on your post, your loss had nothing to do with the market you have traded, but everything with being over leveraged. If over leveraging is your problem, trading a different market is not going solve that. You will lose money fast in any market if you are over leveraged.The post was oversimplified. There are numerous reasons why I don't trade the grains anymore, the biggest being liquidity. I have found that Treasuries allow me to do my thing without being concerned about slippage and run stopping. If I only trade treasuries it eliminates the possibility of me blaming anybody or anything for my losses. I can be more accountable to myself by staying away from the wild grains.
That being said and back to the topic of this thread; Corn, Soybeans, Soybean Meal/Oil, and Wheat are the markets in which I made and lost the most money in a single day.
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You wanna loose money fast? Try trading wheat while over leveraged. I lost $3600 in about 10 seconds. But that didn't hurt as much as being up 9 grand and finishing the day with 2 grand. Needless to say, i don't trade ANY grains these days.
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2. Opening Price in relation to the value area: Here is a rank of market balance vs market imbalance. If price opens above/below value and the previous days range, this creates a complete market imbalance. This offers a high risk but high reward trading opportunity. If price opens above/below value but within the previous days range this indicates a market imbalance but not as significant as the earlier example. This creates a medium risk and medium reward trading opportunity. If price opens within value and within the previous days range, this indicates a complete market balance. Unless price extends above/below value, this creates a low risk but low reward trading opportunity.
Please let me know if the attached chart visually represents what is being said above.
This is a chart of todays action on ZNM9.
Thx in advance.
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You might want to try currencies during the Asian session, but stick with pairs that include JPY. AUD, NZD.
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Can you expand on some of these set-ups?
thanks in advance.
enoch b.
the /zb is one of the easiest things to trade. There are of course a few things to look out for and those things you will catch the more you trade it.Here's a few setups that occur most of the time.
Equal Distance Trade
12 tick reversal (happens once a new low is broken most of the time)
6 tick reversal
50% retracements
Things to look out for.
Those 1000 lot orders on the dom, while most get pulled, some are real and they'll take everyone out and this happens at least once a day...
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If you are into Fibonacci numbers then use 21 instead of 20.
What Made You Profitable?
in Trading Psychology
Posted
Profitability came once I understood that deliverable commodities have built in selling pressure. Now I only short.