[Dogpile]

<<Are you doing multiple shorting? Shorting intraday rallies ...covering on declines as it moves down?>>

well, I only do a few trades a day...

I play:
1) the FIRST pullback in what I think is a new move
2) a good 'a-b-c' corrective pattern if the original move appears to have residual momentum
3) I fade moves when my oscillators are extended as we enter a 'high-volume' zone.

Those are my basic trades. Across ES, YM, NQ, ER2... a few trades set-up every day. I do miss some and that is frustrating.

Basically, I am just trying to do what everyone else is -- synchronize 2 timeframes. For you, it seems to be the Taylor/3-day type of timeframe with a 'micro-timeframe' -- you call it 'the tape' -- but same thing.

For me this is:

1) A Daily/Taylor type of timeframe with a very short-term timeframe (like you)
or
2) A very short-timeframe with an intermediate timeframe like a 15-min chart
or
3) A breakout from an area of known 'balance' - this is when daily and 15-min charts are both indicating the same thing --- both are 'coiled up' and ready for a directional move.

Some trades I will just play for a few points. Other trades I will scalp off some of it early and get a free ride for a bigger move.

I have opened a second futures account to try to trade some things with 'higher timeframe' hold -- more like trade just small size and look for the next 20-40 pt move on something like RUS.... not there yet though.

[OAC]

OK, I am revealing my trade secret here:
(1) If prices stay above VWAP most of the day = Buy Day
(2) If prices oscillates above and below VWAP most of the day = Sell Day
(3) If prices stay below VWAP most of the day = Sell Short Day

[Dogpile]

<<OK, I am revealing my trade secret here:>>

lol, there are no secrets -- just valid concepts.

here is my secret:

if todays VWAP > yesterdays VWAP, a big correction is a potential buy.

if todays VWAP < yesterdays VWAP, look for hard down - ie, downside range expansion off opening price... also look for 'low made first'

thus,
VWAP > VWAP[1] is most consistent with a 'sell day' (buy on weakness)
VWAP < VWAP[1] might be a 'buy day' if 'low made first'

most important:
be careful if 'range expansion off opening price'
and
be very wary of 'high made first'
and
err on the side of bullishness -- the market most of the time goes up -- or it drops quickly
if its not dropping quickly, odds are its going to go up soon.

[Dogpile]

example of a 'set-up':

this is trying to enter for a move down on a 'high made first' day. The market has corrected UP on a 15-min timeframe with A-B-C type of 'structure'

see chart

[WHY?]

Keep it simple guys Taylor didn't need all that nor did he have the computer. He just sought to capture the main trend each day. He woudn't have known what you guys is a talkin bout.

[WHY?]

Best to cover crgn at .98 Only .02 captured on the decline but decline was too slow.
5000 shares profit 100.00 minus comm/10,000 shares 200.00 minus comm

Best to cover MCZ at 1.15 Only .02 profit but decline is too slow. Best not to hold overnight. 5000 @ .02 150.00 - comm or 10,000 = 200.00 minus comm. Not bad for borrowing a penny stock for a few hours.

[WHY?]

Trading pennies via a la taylor mode
Summary of the penny stock plays today - 5000 shares

CRGN .02 share - 100.00 clear minus comm

GNTA - No play

IMH - .07 share 350.00 clear minus comm

MCZ - .02 share 100.00 minus comm

TOTAL 550.00 minus comm (3 plays) on these risky risky penny stocks!

Great Rate of Return on capitol invested.

Summary if 10,000 shares

CRGN .02 share 200.00 minus comm

GNTA - no play

IMH .07 share 700.00 minus comm

MCZ .02 share 200.00 minus comm

TOTAL 1100.00 on 3 plays in these risky risky risky stocks daytrading them via taylor mode. Great rate of return on capitol.

Much more could have been made in IMH today as it traded as low as .94 but the idea in the pennies is to capture a slice of the range FAST and get out of them. On a buy day they can be held overnight if the close appears it will be in ones favor.

Much money can be extracted from the markets daytrading pennies stress free ...well almost...even though most traders consider them way to risky to trade. I consider them way to risky to invest in but a cinch to daytrade! Done it many, many, many times. Plus they give you a great rate of return on the capitol invested. Oh well... I am probably in the doghouse now with this forum for even mentioning pennies..seems like you automatically get demoted in the minds of traders if they ever hear you mention about trading pennies. I could care less. A dime is dime if I get from a penny or from a 190.00 share stock. Makes no difference to me. Except, that multiple penny stock trades a day allows one to spread capitol out and put what would go into one stock into several thus creating a better probability of making some money. So pennies are hated by the trading world. Again "i don't care". What works, works.

[Dogpile]

if todays VWAP > yesterdays VWAP, a big correction is a potential buy.

-----

this was theme for day... I made a bunch on short-side... tried long-side but it chopped too much and only made a little there... tried short-side again and lost a little bit and missed the big move up. on to tomorrow.