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nycdweller

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Posts posted by nycdweller

  2. Posted

    It is simple, Huddy took the money and ran. He is not the first or last sleazy trading vendor that does a disappearing act with other people's money. I've seen this happen too many times over the years. This is the reason I personally do not trust most trading vendors and view them as being worse than a used cars salesman.

  3. Posted

    DbPhoenix, do you require a specific number of bars to form to determine a swing high or low? I ask this question because when looking at a chart some swing highs and lows are larger than others, some are obvious and others are like mini swings. Thank you.

  4. Posted

    Hi Jessechan,

     

    Can you please provide a little information about Vadym Graifer's "Techniques of Tape Reading" book? Is it useful for daytrading and in what way? Thanks.

     

    How about adding the following:

     

    a. Vadym Graifer: Techniques of Tape Reading

     

    b. Suri Duddella: Trade Chart Patterns Like the Pros

     

    c. Pascal Willain:Value in Time: Better Trading through Effective Volume (I just ordered this book, to the best of knowledge, the author tries to unmask the selling/buying patterns of the big boys using his proprietary Effective Volume)

  5. Posted

    Almost all of the information I've seen about using volume while daytrading is on interval charts (second or minute charts). I recently discovered that I can add volume to my tick charts. Is there a difference in the way volume is presented with interval charts verses tick charts? Is volume on a tick chart just as accurate as it would be on an interval chart? Thanks.

  6. Posted

    Thnickster, what kind of realible signals do you use for trend change and small moves? Thank you.

     

     

    I've tried volume as an indicator and find it unreliable..for me anyway. I have much

    more reliable signals for trend change and small moves. Quite long ago I realized that much of the ER2, ES, and EUR moves could be utilized by taking small hits with many contracts..especially ER2 as it reverses quickly. In my opinion..say..if you trade 3 contracts and only take 2 pts..that is 6 minus cost in and out..around $4.80 in some places. So you get around $72 minus $14.40..around 58 bucks per hit. You can do this all day. Mixed with some really strong longer ones..you've got a nice day. I often hit over 90% with my signals.

  7. Posted

    Bootstrap,

     

    What do you mean by Support = 3- SMA (Highs) - ATR(5)

    Resistance = 3-SMA (Lows) + ATR(5)? Can you please post a chart with your indicators? I tend to understand stuff related to trading better when I see a chart. Thank you.

     

    believe it or not this is really close to the first profitable strategy that i traded. it was the one i was using when the marriage went to hell in a hand basket, and my mind just was not in it.

     

    at the time here is what i was using.

     

    i used a 21-EMA instead of a 20.

    then i plotted a short-term support/resistance channel.

     

    Support = 3- SMA (Highs) - ATR(5)

    Resistance = 3-SMA (Lows) + ATR(5)

     

    wait for a period that trades inside the channel.

     

    Resistance line below 21-EMA, sell Support

    Support line above 21-EMA, buy Resistance

     

    you guys can figure out/play with the rest of it.

  9. Posted

    Firewalker, what exactly do you look for when watching volume? Thank you.

     

    Your chart has no timeframe on it, but am I right to conclude that you've drawn the hinge from the day before, leaving out the overnight and this is a 2 or 3-min chart?

     

    If you don't mind me saying, the volume on the breakout doesn't seem spectacular imo... in fact it's hardly higher than two bars before.

     

    There was a nice hinge on the ES earlier this week, and this one led to a meaningful move in the opposite direction (see attached charts one is a 5-min, the other a 1-min chart).

     

    Your hinge is a continuation pattern, and although I can't say I have done enough study on this to make it conclusive, it does look as like those are more common. Any thoughts about that?

  10. Posted

    Hi Namstrader,

     

    I hope I'm not asking for too much. Is it possible that you can post a chart illustrating your points? Thanks for the commentary.

     

    Mario

    Db,

     

    I want to thank you for suggesting the 5 second chart. I laughed at first and then I began to follow the 5 sec chart several weeks ago. I watch it regularly and I am amazed how the 50-61.8% fibonacci level is hit as pullbacks and then resumption of the directional trend occurs. Then I will also watch for the longer wave that makes up the smaller waves (primary trend wave), and when for instance the smaller wave's 50-61.8% fibonacci level is broken, for a possible contract being sold or an exit signal, I have observed often that price pulls back to the longer primary trend wave's 50-61.8% fib level and here is again a possible re-enter setup.

     

    My thoughts are that information at any lower time frame is not noise, but can be useful if interpreted correctly after many observations. I then also use several moving averages with the 5 second chart and feel a little more informed than confused. With your suggestion of the 5 second chart and being open minded, I discovered another view of the market that fits me and not others.

     

    Also your suggestion of the 5 second chart led me to become more aware of the 50-61.8% fibonacci level at this micro-level, and consequently I now watch them on the longer term charts with greater attention.

     

    I guess my comments are to impress upon others to be open minded and formless in our thinking and perhaps a silly path (prior assumptions) taken, can be quite fruitful, in a build-out that started from plain old curiosity.

     

    Thanks again Db

  11. Posted

    Hi DbPhoenix,

     

    In one of the threads someone stated that you use a method of trading with a 5 second chart and watching the volume to determine when the market might turn. Where can I find your illustration of this concept? i tried the search feature but it didn't return anything. Thanks for your help.

     

    Mario aka NYC Dweller

  12. Posted

    Where can I find Dbphoenix's illustration of the 5 second chart? Thank you.

     

    Good post, very much in keeping with the essence of Wyckoff Methodology and consistent with many of the other posts in the Wyckoff forum.

    Infact Dbphoenix has illustrated this quite beautifully on 5sec charts.

  13. Posted

    Hi Steve,

     

    Thanks for responding to my questions. Does your method of trading work effectively on the days when the market is choppy or congesting? I notice in some of your messages you comment about the value areas. Is it necessary to incorporate Market Profile into the method or can the 80 and 200 EMA's work alone? Thanks.

     

    Mario aka NYC Dweller

  14. Posted

    Hi Steve46,

     

    In regards to drawing trendlines do you ever redraw a line to reflect the changes going on with the price action? What criteria do you use to determine when it is time to redraw a trendline? My other question applies to time frames. Is it possible to daytrade using 1 chart and if it is possible, what time frame would you use? Thank you.

     

    NYC Dweller

  18. Posted

    Hello everyone,

     

    What method of trade management do you use once you have entered into a trade? When do you decide to move your stop to break even? When entering a trade do you prefer to exit after you have reached a specific profit target or do you prefer to use a moving stop and capture as much profit as possible. Thanks.

     

    Happy a Happy New Year!!!

  19. Posted

    Hi Walter,

     

    You deserve some good rest. You have done plenty for 2007. Thanks for your contributions. I greatly appreciate it. Happy Holidays to you and your family.

     

     

    2008 will be it, for now I will take some rest... happy holidays ¡¡ cheers Walter.

  22. Posted

    Brownsfan019, what's a WRB? Where can I learn more info? Thanks.

     

    Looking at your chart here PP, looks great!! Putting the VSA items aside since I don't use them (as you do at least), it basically looks like candle patterns at the extremes on the first WRB of the day for trade setups. Again, not exactly as you are using them but for sake of discussion here I see a Support/Resistance area designated by WRB. If so, we see a few possible trade setups here:

     

    attachment.php?attachmentid=4548&stc=1&d=1197946548

     

    A few possible trades looking at creating S/R zones on WRB.

     

     

     

    Now the next question I have is, what about the other WRB's that appear on the same chart?

     

    attachment.php?attachmentid=4547&stc=1&d=1197946548

     

    By using Mark's definition of a WRB, I believe there's at least the ones I highlighted. So, during the day on this 5 minute chart how do you handle these other obvious WRB's? Or is there a reason they are not used?

     

    I'm trying to see how/when a WRB is to be used for trading reference and when to ignore them, if you do at all.

  24. Posted

    Dte, I'm interested in knowing who your friend's broker is and what market was being traded? I didn't hear about any exchange outages on Friday so I'm really surprised something like this could happen. If it was neglect on the part of your broker, take your money elsewhere.

     

    Mcichocki, can you please talk a little about how to hedge in the event of an outage? Thanks.

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