Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.
Trader Nick
-
Content Count
28 -
Joined
-
Last visited
-
I just wanted to double check (my OCD was kicking in where I had to ask), where the RET was indicated and the proceeding green dot/red dot that followed, that meant was the order was actually filled? RET is where the order was triggered, but the corresponding dot that followed is where the actual order was filled? Thanks! A reminder that this is not my chart, only the added annotations. I don't know what triggers would have been used. The hollow circle is a tentative trade. Once the blue line is broken, the attention turns to short ops. Therefore, the first RET up is a potential short. However, the short never would have been triggered had I been trading it. Since the next RET is a higher high and therefore not a RET in a downmove at all, the attention turns yet again toward the long side. The arrows are not mine. As I said in the earlier post, I would not have tried the first one due to the fact that price had not yet made a higher high, so, technically, it's ranging, the probability of which is high given the hour. If I were to take a long at all, it would be the next green arrow, after which the higher high is made. The trade here might be triggered before price actually makes the higher high, but since the trough of the RET matched the trough of the previous RET, and both of these are higher than the trough of the first RET made after breaking the line, the probability of a BO is increased, and getting in before the BO actually occurs is always a plus. Not that it amounts to much either way, but you have to take them as they come. Price could just as easily have rocketed up to 80, considering where it is.
-
Db - Thanks a ton for starting this new thread as well as the other. I'm glad I can be here at this thread's inception. Looking forward to following along. :helloooo:
-
I'm working my way through Wyckoff after lurking through the threads for sometime. I now can see how it would have been much more valuable to have gone through the book before exposing myself to the threads which just left me confused. After the book, might someone recommend the thread that should be followed up with to help incorporate the concepts and see how it's all done by the TL traders here on the forums. My understanding was the Trading in Foresight thread unless that has changed.. I'm just so grateful that such a resource here exists (the forum and community), and that I was able to stumble across it before I went further and further down the wrong path. I have to laugh when I see pop ups when doing research and seeing adds for some hotshot millionaire penny stock trader Timothy Sykes pedaling his BS products. Thanks again for all the contribution here on the forums. Nick
-
Oh, I see what you mean now...I never realized the changes here on the forums took such an impact on the participants. That's a shame... Is there anything we can do? I'm willing to contribute with help and assistance. This forum has been the best education (not to mention free!) then any of the thousands of dollars in books and course I bought...
-
I've been a lurker here for sometime but haven't visited in a while.. Is thales still updating this section? This thread has been talked about around other parts of the forum and made me wanna come to see if any updates have been made..
-
Hi There - Apologies ahead of time.... I'm sure this has been asked in this thread somewhere, just haven't been able to locate the post. Just curious of the importance of understanding figure charts. Also, the importance of the ability to actually plot out each figure to help us better understand vertical charts more. I could easily spend a few weeks on this area alone and just want to see if it was even an area with considering putting alot of time into. Thanks to everybody who puts the time and effort in here to stay consistent! :helloooo:
-
taking a lot from all this.. Too busy being a lurker here, but will eventually post some charts up of my analysis of everything i've been learning.. Thanks again to everybody who've allowed me to pester them and ask them questions..
-
Hey All – Decided to take this path and slowly been making my way through the forums here. I hope it’s ok to ask a random question about trading platforms. I thought where better yet to ask it then here. I know we’re looking to start off focusing on trading the NQ. I’ve been working my way through the software such as the ones mentioned Ninja Trader and Forex Pros. The data provided I understand is purely for simulated trading – this may be where the retarded question comes into play – so this means all the data being displayed either through NT or Forex Pros is actually real market data, what’s going on that particular day? I use to use freestockcharts.com but the RT trading was delayed by 20mins ( I think, this was awhile ago though, so I might not be accurate). So the data is free, it’s when we start actually trading (I know, a long way off) is when we have to get ourselves a broker and/or a live data feed where it would connect to NT or the likes, but in the meantime we can use this for monitoring and paper trading? Thanks a lot, Nick
-
@ 20814md, thanks for the information @ Gringo, as well thank you for the information and the posts of the next steps. A question about Futures I know Db mentioned in the previous posts as futures not being a good instrument to follow written here: I was tempted to drown myself with the whole Wyckoff Course as long as with Db's book, but felt going through these recommended threads are a better alternative to start off with. I will ask him about that Live Chat. Thanks again! Nick
-
Well after making my way through the recommended reading in the Wyckoff Lite section Db recommended, I can come to say most of the stuff out there other then a raw study of price is just pure not relevant to being successful. No, I'll still probably just a lost as I started (ok, I did pick up a few things here and there), other then the fact I have a tremendous amount of studying and rereading ahead of me. Seeing how other really seemed to grasp this already. I'm sure glad this information along with the support system there (at least for now! ). I see Db recommends starting with a tick chart to understand (1) assessing the continuing imbalances between supply and demand (or between buying and selling pressure, buying and selling power, buying and selling interest: whatever term you choose is immaterial), (2) judging the market by its own action (that is, its behavior, which is to say the behavior of those who are moving the price), (3) using the inherent wave structure to help you determine that strength and weakness. From here we relax into it and asses the market accordingly. So the main focus on the three stickies. This might sound like a noob of a question (which undeniably I am :helloooo:), what would be a good market to watch to get a good idea of all this.. Also, anyone can recommend a decent (relatively free) charting software with real-time/delayed software? Thanks a bunch! Nick
-
@ Nikorivera - Thank you for your response and your advice. I will definitely make the brutal path through Wyckoff (being dramatic here...haha) @ DbPhoneix - The funny thing is I originally came on here a few years ago looking similar advice on where to start... After many detours, looks like you're still giving the same advice that I unfortunately was too naive to take... Well touche Db!.. Looks like I'll finally be taking the advice I should have taken back then. :rofl:
-
I also am in transition to trading using PA. My attempts have been an adventure. I have yet to make my way around to the full 500 page Wyckoff Course that's offered here as a link on this site. I suppose I might be doing myself a huge disservice. I'm making my way though YTC trading ebook, seems like a great read so far. Before I spent a considerable amount of time studying Al Brooks.. It just left me more and more confused :crap: We'll see where things end up
-
Thank you for taking the time to put so much time into your response and it makes so much sense. Glad to see your back and will have to come back to TL and follow your posts now seeing you're back. I did have Wyckoff's books and never did seem to make my way through them. I see that I might be doing my self a disservice. Looking forward to going though them.
-
Hi DB - I bought your book awhile ago and then you seemed to disappear for awhile. Forgive if this has been asked, but after reading your book I came across Price Action by Al Brooks and was wondering what you thought about some of this work.. This might be an unrelated question to ask in this post.. My apologies. Nick
-
Been reading Visual Investor by Murphy along with DBPhoneix's ebook. To solid books.