Jump to content

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.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

AbeSmith

8/7/07 Trading Log / Idea Sharing

Recommended Posts

YM staying balanced up to Fed???

 

Seems like it, Peak Volume Price is snug on VWAP and the price is hovering slightly above and below the VWAP.

 

 

I'm starting to sound like Jerry, but the guy is a genius so. :cool:

Share this post


Link to post
Share on other sites
Trade 1: +12. First trade using the VBC 5000.

 

Abe,

Glad to see you are watching and paper trading on the VBC. I assume you are still on paper. You better be. ;)

 

So, what are your immediate reactions to the VBC? Just curious to hear what you think of a chart the provides opportunities if you pay attention. I haven't looked at a 5000 on the YM, so not sure how that looks in real-time.

Share this post


Link to post
Share on other sites

The one thing you will need to play with Abe is that volume setting. I pulled up a 5000 YM and that is way too slow for me. ;)

 

That means nothing to you, point is to play with some other settings as low as 500. It's not going to hurt anything to have a few different VBC's up if you are going to look at them. 5000 appears to be the 'slow' version. I would also look at 2500, 1000, 750 and 500. Obviously the smaller the #, the quicker the chart will respond.

 

Also, since you are looking at different VBC's, I've also read that some use Fibonacci numbers. I guess I just like round numbers as I didn't see a big difference in a fib number and a round number.

Share this post


Link to post
Share on other sites
Abe,

Glad to see you are watching and paper trading on the VBC. I assume you are still on paper. You better be. ;)

 

So, what are your immediate reactions to the VBC? Just curious to hear what you think of a chart the provides opportunities if you pay attention. I haven't looked at a 5000 on the YM, so not sure how that looks in real-time.

 

Yes Brownsfan. Still paper trading. I plan to paper trade until I'm consistently profitable. Not sure how to define that though.

 

I'm not sure what to think about VBC. It is new to me. But right now it makes more sense to me than the 5 minute chart.

 

The one thing you will need to play with Abe is that volume setting. I pulled up a 5000 YM and that is way too slow for me. ;)

 

That means nothing to you, point is to play with some other settings as low as 500. It's not going to hurt anything to have a few different VBC's up if you are going to look at them. 5000 appears to be the 'slow' version. I would also look at 2500, 1000, 750 and 500. Obviously the smaller the #, the quicker the chart will respond.

 

Also, since you are looking at different VBC's, I've also read that some use Fibonacci numbers. I guess I just like round numbers as I didn't see a big difference in a fib number and a round number.

 

Thanks Brownsfan. I will look into the the different volume settings. I'm not sure how to use the Fibonacci numbers. It seems interesting. I understand it is based on a pattern found in nature, and the pattern can also be found in the market. I wonder how often the pattern occurs in the market, and in what market conditions it occurs most often.

Share this post


Link to post
Share on other sites

I'm not an expert on Volume Spread Analysis but has anyone else noticed the huge down volume appear at 12:09 PM EST, could this be evident of price rejection at these levels before the fed?

Share this post


Link to post
Share on other sites

Thanks Brownsfan. I will look into the the different volume settings. I'm not sure how to use the Fibonacci numbers. It seems interesting. I understand it is based on a pattern found in nature, and the pattern can also be found in the market. I wonder how often the pattern occurs in the market, and in what market conditions it occurs most often.

 

When I mentioned the fib #'s I was just referring to setting your VBC level @ one of the fib #'s. I don't use actual fib analysis at all, but on elitetrader they have discussed setting the VBC level to an actual fib #. To me, not a big deal or difference.

Share this post


Link to post
Share on other sites

Brownsfan, I noticed that you have been trying to get Abe to use the

VBC lately. If I remember correctly, Abe has an account with IB . IB only update volume when the price changes. which is different from other data vendors. How will that affect his charts ?

Share this post


Link to post
Share on other sites
Brownsfan, I noticed that you have been trying to get Abe to use the

VBC lately. If I remember correctly, Abe has an account with IB . IB only update volume when the price changes. which is different from other data vendors. How will that affect his charts ?

 

If you compare VBC's @ IB to VBC's @ Tradestation they all print the same.

Share this post


Link to post
Share on other sites
Brownsfan, I noticed that you have been trying to get Abe to use the

VBC lately. If I remember correctly, Abe has an account with IB . IB only update volume when the price changes. which is different from other data vendors. How will that affect his charts ?

 

Good question OAC and it seems MrPaul knows the answer b/c I am not sure to be honest. Never used IB.

Share this post


Link to post
Share on other sites
Nice day Abe!

 

So, what worked well today? I'd love for you to say the VBC, but wondering what worked today.

 

Thanks Brownsfan. I'm not sure what exactly worked today. A combination of things I would say. 1. The VBC. I looked at 5000 and 1000 VBC, and I would say it is very helpful for catching momentum setups. 2. Logging my trades in detailed charts is also very helpful. I get to review the trades at the end of the day, and perhaps every month or week. Also, with the TL setup I receive helpful feedback from other traders. I find this to be very helpful.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • How's about other crypto exchanges? Are all they banned in your country or only Binance?
    • Be careful who you blame.   I can tell you one thing for sure.   Effective traders don’t blame others when things start to go wrong.   You can hang onto your tendency to play the victim, or the martyr… but if you want to achieve in trading, you have to be prepared to take responsibility.   People assign reasons to outcomes, whether based on internal or external factors.   When traders face losses, it's common for them to blame bad luck, poor advice, or other external factors, rather than reflecting on their own personal attributes like arrogance, fear, or greed.   This is a challenging lesson to grasp in your trading journey, but one that holds immense value.   This is called attribution theory. Taking responsibility for your actions is the key to improving your trading skills. Pause and ask yourself - What role did I play in my financial decisions?   After all, you were the one who listened to that source, and decided to act on that trade based on the rumour. Attributing results solely to external circumstances is what is known as having an ‘external locus of control’.   It's a concept coined by psychologist Julian Rotter in 1954. A trader with an external locus of control might say, "I made a profit because the markets are currently favourable."   Instead, strive to develop an "internal locus of control" and take ownership of your actions.   Assume that all trading results are within your realm of responsibility and actively seek ways to improve your own behaviour.   This is the fastest route to enhancing your trading abilities. A trader with an internal locus of control might proudly state, "My equity curve is rising because I am a disciplined trader who faithfully follows my trading plan." Author: Louise Bedford Source: https://www.tradinggame.com.au/
    • SELF IMPROVEMENT.   The whole self-help industry began when Dale Carnegie published How to Win Friends and Influence People in 1936. Then came other classics like Think And Grow Rich by Napoleon Hill, Awaken the Giant Within by Tony Robbins toward the end of the century.   Today, teaching people how to improve themselves is a business. A pure ruthless business where some people sell utter bullshit.   There are broke Instagrammers and YouTubers with literally no solid background teaching men how to be attractive to women, how to begin a start-up, how to become successful — most of these guys speaking nothing more than hollow motivational words and cliche stuff. They waste your time. Some of these people who present themselves as hugely successful also give talks and write books.   There are so many books on financial advice, self-improvement, love, etc and some people actually try to read them. They are a waste of time, mostly.   When you start reading a dozen books on finance you realize that they all say the same stuff.   You are not going to live forever in the learning phase. Don't procrastinate by reading bull-shit or the same good knowledge in 10 books. What we ought to do is choose wisely.   Yes. A good book can change your life, given you do what it asks you to do.   All the books I have named up to now are worthy of reading. Tim Ferriss, Simon Sinek, Robert Greene — these guys are worthy of reading. These guys teach what others don't. Their books are unique and actually, come from relevant and successful people.   When Richard Branson writes a book about entrepreneurship, go read it. Every line in that book is said by one of the greatest entrepreneurs of our time.   When a Chinese millionaire( he claims to be) Youtuber who releases a video titled “Why reading books keeps you broke” and a year later another one “My recommendation of books for grand success” you should be wise to tell him to jump from Victoria Falls.   These self-improvement gurus sell you delusions.   They say they have those little tricks that only they know that if you use, everything in your life will be perfect. Those little tricks. We are just “making of a to-do-list before sleeping” away from becoming the next Bill Gates.   There are no little tricks.   There is no success-mantra.   Self-improvement is a trap for 99% of the people. You can't do that unless you are very, very strong.   If you are looking for easy ways, you will only keep wasting your time forgetting that your time on this planet is limited, as alive humans that is.   Also, I feel that people who claim to read like a book a day or promote it are idiots. You retain nothing. When you do read a good book, you read slow, sometimes a whole paragraph, again and again, dwelling on it, trying to internalize its knowledge. You try to understand. You think. It takes time.   It's better to read a good book 10 times than 1000 stupid ones.   So be choosy. Read from the guys who actually know something, not some wannabe ‘influencers’.   Edit: Think And Grow Rich was written as a result of a project assigned to Napoleon Hill by Andrew Carnegie(the 2nd richest man in recent history). He was asked to study the most successful people on the planet and document which characteristics made them great. He did extensive work in studying hundreds of the most successful people of that time. The result was that little book.   Nowadays some people just study Instagram algorithms and think of themselves as a Dale Carnegie or Anthony Robbins. By Nupur Nishant, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.