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walterw

Market Wizard
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Posts posted by walterw

  1. Posted

    Here is my take on trading support and resistance levels with what I called the "Z3 Cycle Trading with PALS [Price Action Levels]". I only take my entries off of bounces on pre identified key zone levels as it goes along with what I termed "Market Flow" and "Market Timing". With my lazy way of daytrading and swing trading, I let a couple of indicators do the line drawings for me. I only daytrade YM and/or ES along with selected forex pairs for 2-3 hours a day in 1-2 trades, out and done on or before NY martini lunch time. I use MT4 and Ninjatrader charting platorms to monitor only 1m timeframe for each instrument I am trading.

     

    Proper trading of S/R levels seems to be the closest thing one can get to that elusive and mostly sought after "grail". :cool: I have attached an MT4 setup for your viewing. If need be, I can attach an NT chart later on.

     

    ENJOY!

     

    ztrader

     

     

    No Doubt you are a Lazy man jejeje... hay que disfrutar la Vida hermano jajaaj... cheers Walter.

  2. Posted

    I have read about every thread in the TA and MP section, as well as suggested books from those threads. A lot of it I do not relate to cut and dry SR. However, that was before I really had a grasp on SR, so it might do me well to check them out again.

     

    If we have any traders that use strictly SR, and I mean just a horizontal line on the chart, following swings, hesitations, etc, that's really what I'm interested in. A lot of walter's work with SR scalps is just what I'm doing but looking to refine with more precision or better entry techniques. If anyone is familiar, any specific recommended reading is appreciated.

     

    Thanks brownsfan, I'll get a chart up. It's just real basic resistance becomes support and vice versa that I'm looking to refine by figuring out the most reliable types of swings/hesitations, etc, ie: 2 swing highs followed by a hesitation on the same level prior to a break seems to make for a decent level to go long at after a retracement.

     

     

    Hi Kvn, that chart there resembles the chimps flips trades... you can check them here http://www.traderslaboratory.com/forums/f34/the-flip-trade-support-and-resistance-1714.html thats a very solid classic trade where you can take a S&R level switching roles... now the chimp basicly did use his flips on a "momentum" enviroment in order to have a better RRR.... thats my 2 cents in terms of S&R.... cheers Walter.

  4. Posted

    Hi Ztrader,

     

    Thanks for the indicator but it is not the one I am after. If anyone could post the adxvma indicator that allows for 3 inputs like in walter's charts. adxvma(2,1,ema).

     

    thanks,

    Trader

     

    The third input is the type of average used for smoothing... its somwhere on this thread, post it again... cheers Walter.

  6. Posted

    This is one of the promotional videos about the course, now the method its very similar to the ones presented here, but it has some new cool nuances...

     

    [GVIDEO]<embed id="VideoPlayback" style="width:400px;height:326px" allowFullScreen="true" src="http://video.google.com/googleplayer[/GVIDEO]

     

     

     

    cheers Walter.

     

     

    seems the google video didnt work... I post on next...

  7. Posted

    This is one of the promotional videos about the course, now the method its very similar to the ones presented here, but it has some new cool nuances...

     

    [GVIDEO]<embed id="VideoPlayback" style="width:400px;height:326px" allowFullScreen="true" src="http://video.google.com/googleplayer[/GVIDEO]

     

     

     

    cheers Walter.

  8. Posted

    This VMA looks very cool. Thanks guys for bringing it up and sharing it with everyone!

     

    I just have one more question, after all this info ... Where can i get one :) (Edit ... for TradeStation)

     

    Thanks

     

    Travis

     

    Thanks Travis, vma stuff has really made a revolution into my trading as well... you may also want to check my new course ( on my signature ) where I share all my last nuances into my actuall trading, it includes indis and templates for NT... the tradestation version should be somwhere arround this thread, I know Blu-Ray did a lot of coding for TS on vma as well...

     

    let me share with you a video of what I am doing and what you can expect from the course as well... cheers Walter.

  11. Posted

    Nice EJ ¡¡ I will try to do some testings this week into it... and compare it with fxmm performance as well... I was wondering if the fxmeter soft would actually plot some historical data of w/s... seems looking at the picture you posted before... cheers Walter.

  12. Posted

    Here is how Currency Strength Index and/or fxmeter can be used as shown in 3 of my trades during 6/12/08 Asian/Tokyo Session. Though this session is not popular among most forex traders there are opportunities during these hours by applying market timing together with currency strength/weakness tool. My traders IQ and technical knowledge is way down compare to most of you, so I keep my method simple.

     

    At Sydney session, I usually do a quick glance at the Excel file and check for some S/W scores, get charts ready for identified pairs, then take a nap or watch a movie. By the time Tokyo gets going, most pairs have pushed for enough tradeable range and the excel graph starts moving actively to give obvious signal of strength and weakness. USD kept the 7 plus score throughout the first 2-3 hours which resulted in substantial pips profit on the pairs I traded. By employing the strength/weakness scan, selected trades gain speed and momentum in an hour or so, without using any oscillator indicator, as shown on the attached charts.

     

    Caution: This type of BIG trades do not occur at all times during Tokyo or other sessions. However, with proper knowledge of nuances on how to use the tools, you will find opportunities for profit in almost all sessions. I suggest you observe it and demo trade with it. Find how you can effectively employ it with your trading methodology.

     

    ENJOY and trade well.

     

    ztrader

     

    nice stuff EJ ¡¡ did you had does levels of scores previous to the big move ? or at least similar ? cheers Walter.

  14. Posted

    Excellent... this croses work nice ¡¡ just taking those would be good enough to make consistent good profits... basicly the concept is that there is a greater amount of volume on the seller side than the buyers side, thus making the bears the kings... using some simple moving averages to stay inside the whole move or some keltners as well its good enough... 1 min looks nicer, more specific timing... Can you start a thread on this MIke and keep a track of this crosses so we can prove on lets say 3 months from here that this is a good solid strategy to feed a regular family... maintain the mecedes and pay the hyatt suite... trading can be so simple, we humans just make it dificult... cheers Walter.

  18. Posted

    A BIG thanks to Ztrader and 3Monkeys for supplying the info for us.:applaud:

     

    Hey Walter, now that we're up and running I'm looking forward to see where your taking us to on this. :thumbs up:

     

    Cheers

     

    Blu-Ray

     

    Good point Blu-Ray... basicly I am working on my classic trend scalps and divergence scalps (m`s) and inserting them in the context of Inter-Currency analisis... my actual issue right now is that I was trying to do al my timing etc criterias right on topgun... but I still find much superb our vma tools at NT.... so I will probably end up using both softwares simultaneously at this point... one (TG) for trend context using inter-currency analisis and the other (NT) for old classic scalping price action readings... so I will be posting soon on this... cheers Walter.

  20. Posted

    Well this is absolutely cool... good interaction ¡¡ you got my blessing Z ¡¡ jejeje.. as always your inputs have premium quality and I really apreciate a lot what you are sharing here ¡¡

     

    I believe this inter-currency analisis its a gorgeous tool to give solid trend context... whatever its the normal trading strategy a trader has, adding this solid trend context its a good call...

     

    Lets keep interacting on this thread about this type of analisis, by no means its needed only to be the chimps alternative... even I will be testing this new tools shared here...

     

    Thanks a lot, once again we can enjoy TL's high quality interaction, cheers Walter.

  22. Posted

    Very nice Mike ¡¡ I attach one of the posible readings of "trend determination by up/down vol comparisson"...

     

    attachment.php?attachmentid=7033&stc=1&d=1213184631

     

    nice and clean trend definition... maybe the uvol bars you want to make them all green... and add a 4 sma to the index and you got a little system, can enter each time you swing the sma on the direction of the UDVC trend... wouldnt that be cool ? cheers Walter.

  23. Posted

    I agree but he doesn't trade more than 2 contracts and often only 1 on the YM. Also the volume on YM is a fraction of that on ES so if I were going to use multiple contracts I would mostly use ES

     

     

    Paul

     

    Well he probably needs to grow on the volume psicological barrier... trading volume demands certain psicological preparation, but if his method its good enough, he should be able to grow quite fast to a 50 contract level... on ES you can trade much more Paul... its just on your mind the hability to manage larger orders or not... cheers Walter.

  25. Posted

    VIX-TRIN.jpg

     

    I know I wasn't asked, but my 2 cents is I prefer the VIX. TRIN often moves range bound where VIX tends to move more with the market (though inversely). The above actually shows the exact same days and time frames on both VIX and TRIN. You tell me what you see better through. ;)

    I do use the TRIN to look for extremes (2.0 and .6)

     

    $UVOL_$DVOL%20Comparison.jpg

     

    This is another tool I use to look for false breakouts. You can see how the up or down volume reacts to the range breaks.

     

    Nice method to measure market climate... very nice... once again proxy data giving very good insight into whats going on... cheers Walter.

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