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PrymeTyme
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Everything posted by PrymeTyme
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LOL Iam a Born Austrian Does that count aswell .....
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Most Documentaries can be found here: Finance Documentaries: All Documentaries enjoy
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Rouge Trader Quicksilver I really wanna see a movie about Jesse Livermore!!! Upcoming movie: The Wolf of Wall Street
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Introduce Yourself Here - Don't Be Shy!!
PrymeTyme replied to trading4life's topic in Beginners Forum
Hi and welcome to the Lab Keen to hear some storys from the institutional world Cheers -
DbPhoenix Tons of Material , not only usefull for Wyckoffians but also to any trader out there, the willingness to help others and devote and effort he puts into answering every question is second to none ! iama Fanboy
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Just to Complete this stuff.. i added ,how i Journal my sessions/trades.. like ,Homework( PreTrade analysis) Scenarios Execution / Management Comments Review.. etc.. this was a very short session today .. as my 9to5 got in my way .. but it should guve u guys some insight on how i approach journaling .. cheers JournalIntraday.rar
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Hi bobc Sure it does! As it wouldnt be in the eye of the instituions to drive price Therfore the need to push the herd from a cliff to get the ball rolling So in a form retailers are usefull and a play a part in the mechanics @neg I like that u added TFs to this discussion, as they do play a big part in this Who will puke first? The small or big TF traders ? Where does price attract bigger TFs and therfore trade against smaller TFs ? And how will that play out? I would have some more to say but iam not at my pc atm , and typing on a smartphone Sucks ass Catch ya guys tomorrow Cya
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and therfore... isnt price allways in search for liquidity ? hence advertizing itself all the time ? *sorry forgot to ad this to my previous post ... cheers
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nice , i will follow this thread ..
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HI Isnt value an individual perception , of each and everyones own parameters ? wich take into account entry , take profit and stopp loss .. even a stopp loss then turns into value ? for both partys (its fair to sell the stock @ xx as iam wrong) while the other side thinks, now thats a fair price as my indicators turned green ? cheers
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Hello tupapa i dont trade gold ATM .. just paper trading and tracking like i would if i trade gold (same for stocks ) i would have entered on the test of the hinge-midpoint .. and added on the tests, as for exits .. well for that you would need to know my trading plan.. wich in this case is different as i have two seperate plans one for intraday and one for swing/position trading i dont use TPs on position trading , i will diversify each position to keep the balance on a smooth and steady upwards stride.. and to cover losses.. attached are my trading plans... the first one i ever wrote(TradePlan) and the two actual and updated ones(Intraday/Swing).. they change regulary as for example i dont use PnFs anymore and some other stuff.. i rewrite them regulary ,add or delete stuff ,, they change as my progress changes .. cheers TradingPlans.rar
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gold ... update . plays out nicely
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LoL Nothing has changed , the underlying market mechanics are still the same. All this just reminds me of this NASA Spent Millions to Develop a Pen that Would Write in Space, whereas the Soviet Cosmonauts Used a Pencil This tale with its message of simplicity and thrift--not to mention a failure of common sense Does fit in this disussion well.
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HI for the trade to enter scenario 3 ? then yes it does, but if u r in the trade from scenario 2 , then no , you can stay in the trade and watch how price acts at the midpoint wich formed.. at around 30.50 and even consider to take a long at this midpoint.. as this is a new opportunity arised before the scenarios where drawn out .. several days ago price has the right to correct .. and thus far it looks like a retracement rather then a reversal .. even thou its climatic.. if we bounce off the midpoint.. we are still strong... and it is an opportunity to go long.. also consider we are trading somewhat shy the resistance level of the range.. yes we are back in the range .. but not that far... (zone) we can also gauge the recent strenght on M15 , where we have a range that formed and use this midpoint .. somewhat 30,77 .. where we trading atm, .. if that level holds or we tarde back above it.. we are still strong.. adn can be used as an opportunity to join the bulls.. cheers
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a follow up on MSFT, scenario 2 is in play.. and where about to see if scenario 3 will occure.. the fact that the market never really got close to the midpoint.. just shows that the market is strong or strenghtening.. on H4 we can examine possible entrys and how to judge the market while in a trade lets say we eneterd at point A we put our SL at the previous reaction low price does advance and hits resistance again , reacts from the resistance but dont just panic yet, we cans ee thart the reaction is rather weak with decreasing in vol. and rather small spreads,(selling pressure) we form a higher low (point B) the SL has never been in danger, if we get in at point B with SL at the low from point A, we rallie again.. and yet fail again to breach resistance, this time we see a sharper reaction to the downside with wide spread and an increase in vol, wich is even one of the highest vol. since days ,somewhat climactic, but look what happens.. we fail to break the low of point A , sure we dip below the low of B, but we close bove point B and the following bars pretty much do the same (cluster closes).. we fail to make new lows even under such pressure! no follow thru,.. someone buys here! and gives yet another opportunity at C to get in, conc: the stops never where in danger, and the action that took place .. showed a lack of selling pressure while buying pressure was strong.. just look at the chart,the bigger upbars, the stronger rallies and the weaker reactions.. and even if selling pressure is increasing someone sits there holding the bag thats how a strong market looks like... cheers
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Homework time gotta be prepared
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well the trend i still up ..! what you call a down trend is more a correction . and/or the beginning of a trading range.. sure it could develope into a fullblown downtrend .. but for this we have to take out several levels to the downside.. in intraday trading , bigger trend or pictures it does not matter that much .. but again put as many odds into your favour as possible ..
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losing is part of the game/process , nothing frustrating here .. and if u where frustrated u may miss one of the long opportunitys ,, wich probably more then cover your loss .. besides that ..but that is each an there owns plan.. shorting in an uptrend and with recent sign of strenght or buying (shakeout) in the background should be treated with higher risk and if the market doesent respond in the favour of your position.. then get out .. (as seen on the bars wich just plummed along) ie. no good reaction to the downside.. cheers
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Follow up on Gold looks like scenario 1 is inplay .. and added another point .. wich lets me judge to hold or fold
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well msft is still weaker then the SP500, ( recent price compared to april/may highs) but a retracement after a breakout seems legit to me , to buy so the answer is yes , some possible scenarios for long positions within msft 1.) if we enter here we can watch how price acts at midpoint A if we dont break it .. i consider this weak and get out 2.) if we enter here we casn watch how price acts @ B if we retrace from point B i still can watch how price acts at point A and decide to close or hold also plenty of room between A and B to judge the behaviour before we even come to point A 3.) here we can watch how price acts at C and if we retrace how it acts on B same here i still would hold on and watch the reaction on B 4.) we can watch how price acts at resistance D and on a retracement to C whereas each and everypoint would have its own gameplan ,, set within the hourly chart to gauge and judge the strenght or weakness .. to hold or not to hold or even reverse..
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MSFT doesent looks to shabby , we where just retesting a resistance level (midpoint of a box on the left) and the level held , in the blue box we see that the up stride seems to accelerate , aswell as we can gauge the recent strenght .. as we traded above the actual midpoint aswell . could be possible that this box acts as a springboard , second pic.. just to show u that infact we are resting above a prev midpoint .. wich has been rejected before(2011) ,we now trade above it.. but has been tested several times. and almost always price traded back above the midpoint.. wich adds to strenght
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hy again this is only hindsight .. but i guess a good play would have been this way u enter a short on the rejectet price (midpoint) again vol. is your friend here.. as the rally to mid point the vol .. was flat.. but on the rejection it was increasing.. so a short of the break of the upthrust.. with a mental SL on the high of the bar.. (to judge) and a hard SL on the prev. high.. then exiting on the break of teh (acc.) .. as u obviously foolow the stock where u have a position.. in,.. u will notice the buying.. as stated on prev post.. .. re entry(long)? well somewhat on the retest bar.. of the exit... probably..
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AAPL The Red X shows the only sign of weakness on this chart . as it failed to make a new high on high vol. but then on the hig volume down gap , we dont break the recent low . ie. someone bought into weakness and the orange rectangle (springboard) does have evidence of absorbtion.. as its on resistance level and especialy the two last bars before the breakout .. make a HL/HH/HC .. wich is typical for absorbtion lets zoom in on the high vol bar .. well this looks like a selling climax , followed by a automatic reaction and a secondary test wich confirms the SC , also note the declining vol on the retest.. , and the high vol breakout .. confirms someone bought here
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ready for some homework
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Hi Gringo i actually wanted to draw out scenarios wich may could happen If I am allready in a long position ,indictated by the Green Square and how i would watch reactions and decide what to do with the open position (trade management) .. i plan out scenarios ahead of time for entering and if all lights are green to enter , then before i pull the trigger i layout a possible scenario plan .. like the one above.. to sort out any emotional actions wich could arise due to the lack of preparement ... u know what i mean ? catch as many What If Scenarios as possible and knowing in foresight how to act upon it i may come up this week with a play from start to finish .. to describe my process cheers