bh_trade

And one on the Russell leading up, very constructive over next several months. Blasted to new multi-month highs today even as S&P and financials were lagging miserably.

Interesting point Waveslider. I too have noticed the sustained 2 day relative strength of the small caps. During the large down moves of last year and earlier this year the Russell always underperformed the large caps. In fact, I can't think of a single 200 point Dow selloff where the Russell outperformed the Dow. Well, until yesterday, and again today that is. Pull up a 2 min chart of ER2 and look at the action for 5/20/2008. Note the huge spike down volume bar that marked the low of the day (13:20 cdt). It was the highest volume 2 minute bar on my 30 day chart- not a day session open/close, no discernable news, or anything that would typically yield high volume. But the fact remains that the smart money clearly was buying that extreme volume spike lower. So your point about the volume increasing late in the day today and near the lows does not necessarily carry the bearish implications that many are suggesting and hoping.

jpjtrading.com

Not sure anybody "envies" your great call Ronin. We are all waiting for an ounce of proof that your fantastic calls are real. Until then you are just a hindsight paper trader who is a legend in his own mind.

To reiterate what JJ wrote: Sheptrader, very nicely annotated charts, very easy to follow your rationale, especially the numbered steps in your decision. Thank you for posting these.

"2:13pm - Filled LONG 1360.50 ( DAMM Good Filled ! ) Target Filled at 1378 GAIN + 17.5 Pts = $ 875" Taking technical trade setup 2 minutes before a Fed rate decision? I want some of what you are smoking.

Through remarkable faith huh - lol You forgot to list your website and price for your holy grail Mr. vendor.

"The R-dog and me taking over the world!! We are on fire!!! 1 tick stops, 20 pts objectives is where its at!!!" Throw on a 80%+ win rate and even I could make money with those stats. Please teach me . . . please

Blu-Ray, thanks in advance. I look a look at the huge block of Metastock code and was considering converting it to easy language myself, but the only thing I could come up with is condition1, condition2, etc, so I passed. Regardless, converting that code into easy language is not as easy task. Many thanks to you for all of your generous contributions to this forum.

I just noticed the unread posts link is now active again - thank you very much Soultrader for putting that back in.

I was at my desk all day today and did not have any problems with TS. Their DOM can get messy from time to time, but often it is my own internet service that is the problem. But I only trade 2-3x per day and I have my entry orders parked well before price gets there so I can't really comment from an aggressive scalping point of view. I have used TS for charting since 1998 so I like their charts and easy language is the only programming language I am remotely familiar with. It sounds like there are better options out there these days, but it is familiar and it works for me.

Thanks to both Blu-Ray and Waveslider for responding. Blu-Ray, I was looking to access the first hour highs and lows on a lower timeframe chart, so your solution was the one I was looking for - thanks again.

Good trade Waveslider, top of channel was also developing value area low and a tick in front of the double bottom from earlier in day.

Blu-Ray: I know you have coded up some indicators in the past and posted them freely on this forum and for that I thank you for your generosity. I do have a simple EL question for you. How would one store the opening 60 min high and low as a variable to be used for other calculations? Thanks in advance.

Waveslider: curious what would make you state what you did below. Also, would you be willing to share the underlying logic of your systems or do you keep those proprietary?

I Think what Tasuki was referring to was accessing volume bar charts that go back longer than 30 days, can't do that in anything newer than TS2000i because TS became it's own data vendor over the last several years. In the somewhat good ole 2000i days they were just a charting platform and 3rd party data provided the tick data via something called the global server. Now TS has chosen to only keep 30 days of tick/volume data in it's server database so can't do volume charts further than 30 days back.

I hope the someone selling it goes by the name of Clyde Lee because it sure looks like his indicator from a few years ago.

Come on, you're better than that, act like it.

I have found that the internals (adv/dec, up/dn volume) generally speaking lag the futures, not lead. However, up/dn volume can be useful. I have found that on the rare strong trend days (like last Wednesday) volume will trend in one direction with barely a hiccup even when/if price pulls back. But on most "normal" days I have found little added value when looking at market internals, almost finding them a potential deterrent to profitable trade setups.

E-mail Don and ask for price. I have run the indicators in both TS 8.2 and 8.3 without a problem

"One note - when you watch the contract and esp in simulation, assume in order for you to exit a position that price must trade THROUGH your price level and hit the next level to get filled. Example - if you are trying to exit a winner at 1500, price will need to touch 1500.25 in order for you to safely assume you get your exit price. NEVER assume that if price touched your level that you are out. Unless it's an MIT order of course. " Second that! Due to immense liquidity and somewhat large tick size, fully expect to have price trade through your order prior to a fill.

[ Could you please answer a few more questions. 1. What percentage of the trades are winners for him? 2. What kind of stops are utilized? 3. What kind of guy is he? Is he he someone you enjoy spending your day with? 4. Is he a good teacher? 5. Is the room worth the money and do you see yourself in it for the long haul? 6. How well are you picking up his methods (this early on) Are you making consistent money with his methods? 1. I have not tracked his winning %, and I know he doesn't either because during his free trial several people asked that question. If I had to guess, I would say the trades he takes are at least 60% winners, maybe a little better than that. 2. Typically 1-2 points 3. Decent guy, former floor trader and voice sounds like it. 4. I think so, but there are several veterans of his style in the room that assist in answering questions also. 5. Again, I think so or I wouldn't have signed up for 2nd month. In it for long haul? After 3 paid months the room is free for life so unless something drastic happens in the next month I plan on paying my 3rd installment and becoming a lifetime member. 6. I am working hard to take each setup without bias or hesitation and to then manage them with discipline (which again I struggle with), but much easier said than done. For example, last week, I took a long setup that relatively quickly went $10 in my favor. JP of course was scaling out the entire way up and had most of his profits locked in. I had a technical level I *thought* the market would get to but it missed by $1 and I closed out the trade for a modest $2 profit after riding it back down to under break-even. JP would never have let that happen, he probably had a few pieces left that he scratched on the way back down to his entry price, but the majority of his profits were locked in. The importance of discipline without bias cannot be overstated. I know that is the true holy grail of trading, but I have never completely gotten there.

I am in my 2nd month in JP's room. Without a doubt the man is an exceptional trader. I'm not sure I would use the word amazing, but he is very good. Perhaps the most impressive thing about JP is his discipline, he trades the same way each time, which is something I clearly struggle with. You will learn several market profile setups, and several that have nothing to do with market profile. Since there are over 200 members in the room on any given day, you will often see many traders posting many different trades, and oddly enough, there are many times when some members are short while others are long, even when both sides trade legit market profile setups. In a nutshell, JP is giving me a different way of looking at the markets. Will I trade every setup? No. When in a trade will I manage it the same way as JP? No. Would I be better off if I was able to answer yes to both of those questions? Yes. But the fact remains that I can only take the setups that fit my personality and manage them according to my own style. I suspect most other room members would agree.

I was unsuccesful in my attempts to screen capture and post, but again am looking for clarification of your statement below. On the potentially bullish 60 minute ER2 pattern, we have been consolidating below the 1-3 trendline for several days now. Are you suggesting the consolidation below the line suggests the pattern ultimately works?

Waveslider: I meant to post this last night, but got preoccupied. About the potential bullish ER2 pattern: the ES showed a similar potential the other day but the recent weakness has kept prices below the trigger line for 2 days now. My experience has been that when that happens, the pattern becomes unreliable, ie higher than normal chance of failure. ER2 is also hanging out below the trigger line, although not as drastically as ES. Curious to hear your thoughts.