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.

subq

2/27 the Big Picture

Recommended Posts

thought I would post a screen shot showing how I like to use MP

 

what you should see is that our first area of resistance was 1369-72 which we finally broke through on 2/25, the expected next stop would be 1387 and that is what we needed to get over today to move up to the 1396 area, if we break that, 1416 here we come, otherwise, a nasty drop back down to 1358

 

note I am not using value areas, IB, etc etc...shape/development and POC is what I am concerned about

 

http://www.charthub.com/images/2008/02/27/es_mp_rths

 

es_mp_rths.png

Share this post


Link to post
Share on other sites

Thanks subq -

 

So are you using the POC as an area that you expect to revisit on following days and assessing the implications of a revisit or a failure to revisit? Sorry, might be a dumb question ...

Share this post


Link to post
Share on other sites

no dumb questions

 

POC = Value

 

which is why I don't really find a reason to look at value areas, IB, etc etc...

 

naked POCs are very strong magnets

 

think about it in the sense that a POC is where lots and lots of business took place, so it makes sense that business needs to take place there again

Share this post


Link to post
Share on other sites

I'm not into MP per se, but I do trade support and resistance and pay close attention to the "midpoints" of the ranges as defined by volume. All this predates MP by many, many years, though (Wyckoff, to be exact). As such, I do find the extremeties to be worth noting as the trips back to the midpoint (what MP calls the "POC") are more reliable with regard to entry points and management than are the trips away from the midpoint to support or resistance.

 

For example, the midpoint in the NQ has been 1780 for weeks now. Trading the support and resistance extremes from this back to 1780+/- has been not only simple but easy. This will all end when we break out of this hinge, but, in the meantime, it's been a pleasure.

 

Db

Share this post


Link to post
Share on other sites
I'm not into MP per se, but I do trade support and resistance and pay close attention to the "midpoints" of the ranges as defined by volume. All this predates MP by many, many years, though (Wyckoff, to be exact). As such, I do find the extremeties to be worth noting as the trips back to the midpoint (what MP calls the "POC") are more reliable with regard to entry points and management than are the trips away from the midpoint to support or resistance.

 

For example, the midpoint in the NQ has been 1780 for weeks now. Trading the support and resistance extremes from this back to 1780+/- has been not only simple but easy. This will all end when we break out of this hinge, but, in the meantime, it's been a pleasure.

 

Db

 

Db,

 

I am just starting to tinker with MP in addition to using VSA and Wyckoff and it apppears quite good. I need to look at more trades and gather a few more stats.

 

Previously, I had just used pivot points and the previous day's high or low. I had a little bit of previous exp. with MP having studied it for a bit last summer. I believe the reason why both are complimentary are they are both based on volume which is a method of trading based on sound logic.

 

I just want to give another note of thanks to Soul Trader as I watched his videos using the two and. For example, today the ER2 opened below VAL and it showed clear weakness as defined by VSA and Wyckoff as it approached the area and rejected the VAL twice on a 3 min chart. Get short. Then it penetrated the PDL on volume and started to pullback on lower volume. Get short again.

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

    • Agreed since some of the new traders usually lose money in start and some loses more while chasing their lost money and eventually ends up blaming to their brokers part.
    • The crypto market are also in phase of maturing like the forex and other trading assets so we can do much more accurate analysis than before since early days it was purely a luck if the investments in crypto bears results because most of the coins or tokens never come to fruition. Some early birds were also able to make profits on these tokens or coins. e,g., like turtle coin starts with 1 satoshi and go up to 7 sathoshis, quite good rewards. another token lmgx now hovering at 10 started from 1, 
    • 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/    
×
×
  • Create New...

Important Information

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