notouch

Yes there is check out the esignal central website. It's called BidAskVolume.efs or something. Produced by a member of the eSignal development team.

Just checked my Nilson book. It was a shooting star because it occurred at the top of an uptrend. An inverted hammer is the same candle but occurs at the bottom of a downtrend. It's all nit-picking in my opinion. It was a reversal candlestick, that's what matters. I find 1500V is usually a bit slow for me but as you say it's all question of preference.

I call that reversal candle an inverted hammer. Some people just call it a hammer (saying if it's the other way up it should be called an umbrella). Others call it a shooting star. Doesn't really matter what you call it. Later in the day was a good time for range trading with 500V bars. What made you settle on 1500V candles?

About professionals gapping it up, I don't think that explains many YM gaps. There's a big difference between a gap in stocks, which is created by market makers marking a stock up and a gap in futures, which doesn't have market makers. A YM gap isn't really a gap at all because it trades almost 24 hours. It's usually caused by an increase in stock indices in Europe or some economic release out of the US. It usually happens on light volume and if you look at time and sales it usually seems to be small traders causing the gap.

I agree, there's no point getting hung up on the names of candles. Different people give different names to different candles. The important thing is to be able to recognise a reversal. A engulfing pattern on a 1000V chart may look the same as a hammer on a 2000V chart. The important thing is not the minute details of each individual candle but whether there's volume coming in to support a reversal. If you see a reversal candle (or more) followed by a new trend quickly forming then the chances are you're witnessing a high volume reversal.

A lot of people are asking about the settings for volume candles. They can be adjusted to take into account the day's volume. For example we went through that long low volume period where I found 233V charts ideal but on the big 500 point crash day candles just started whizzing past so you could really feel the volume coming through but it was impossible to keep up so I changed to 1000V and then 5000V on that day. Now I'm back down to 1000V or 500V. In response to ST, you'd want to see a lot of candlesticks in the direction of the trend and fewer candlesticks during pullbacks as this would show more volume flowing in the direction of the trend. This is all for YM. For ES 10,000V candles or so would be equivalent.

Well the real spread is the spread in ticks which is usually 1 for ES but sometimes as high as 10 for SP.

Any reversal candles (hammers, dojis, engulfing candles etc) are good indicators with constant volume bars. How quick you move depends on your settings. For scalps you'd use 233V but for a longer term perspective you can use 5000V. I prefer 1000V right now.

Here's one I made earlier... This is from a while back. I think it was FOMC which caused the volume.

Just look very closely at the times the candlesticks formed. Historical charts have this information but you'll need to study them closely. A low volume period would be for example a 1000V candlestick that closed 5 minutes after it opened. A high volume period would be where 5 candlesticks formed in one minute.

It should be if spreads are wide, your limit orders don't get filled and your market orders are slipped.

Check out my thread "Positive thinking v wishful thinking" I posted a while back. Positive thinking is great but you can't control the market with your mind.

They're usually called constant volume bars (or candlesticks). They're useful because you can see price and volume as the candlesticks develop without having to look at price and volume separately. High volume would be coming in if a lot of candlesticks formed in a short space of time. For example if you were using 1000V candles then if 5 candles formed in 30 seconds near a support level then this shows big volume (5000 contracts) coming in at that level. It's easier to see in real time than on historical charts.

If you're asking whether there's a no-brainer way to make money then the answer is no. If you buy USD/JPY then you'll receive interest every night. That's the "carry trade". The risk of course is that USD/JPY falls and you close your position for a loss.

ST, from my limited knowledge I think the key thing is that you're looking for supply to come in at key support levels (if you're buying) and resistance levels (if you're selling). 12190 was a key resistance level (S3 Pivot) and you could have got 50 points from that last trade. On a day like yesterday though you should have been looking for sell signals.

Your stops were too narrow for a day like yesterday. Also your trade location was probably all wrong. Were you just jumping into the market because it "felt right"? That's how the professionals take your money.

I can't pretend I was that amazed by the amazing video.

I mentioned the morning doji star just because it was mentioned by Gavin Holmes (I think) during the seminar. I'm personally sceptical about focusing on bar closes. A 1 minute bar with a low close followed by a 1 minute bar with a high close would just be a single bar with a high close on a 2 minute chart. The rule is "strength appears on down bars" so in that situation the 1 minute chart is showing strength but the 2 minute chart isn't. I think you'd have to look at the market you want to trade and choose the best time frame to fit your trading style and then just stick with it. Looking at several different time frames may just lead to indecision. Wookey, I'd definitely be interested in seeing more of your charts.

He got me interested in what this amazing video is all about which throws light on time and sales. It's no surprise that big traders manipulate time and sales for their advantage but it'll be interesting to see exactly how.

Morning doji stars are something to look for. In a down trend this would be a long down candlestick followed by a doji which would signify a reversal. This would be confirmed by an up candlestick. Presumably other reversal candlesticks like hammers work just as well. The issue which most interests me is what timeframe is ideal? I know "all timeframes" is the usual response but which timeframes are ideal? Looking at today's action the 1 minute charts would lead to false "signals" but the 5 minute charts would get you in very late. One solution may be to use the 1 minute for entries but only stay in the trade if confirmed by the 5 minute.

I meant nothing to do with VSA which is an analysis technique in its own right.

mp trader, one of those pics is of MarketDelta - a very useful tool but nothing to do with VSA.

Two ES contracts would be $25 a tick. What benefits do you think there are to trading one big contract instead of two small ones? I can't see any.

Am I the only one having this problem? Sometimes I click TL! Chat and I get two options (forex and emini) but usually when I click it does nothing so I can't get into the chat room.

Why not just trade 2 ES contracts?