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TF thread (Russell 2000) ... anything goes
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TF thread (Russell 2000) ... anything goes

  #611 (permalink)
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Down parascope

Down parascope

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  #612 (permalink)
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That last 5 minute bar had a 5 tick range...talk about boring and slow...haha

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  #613 (permalink)
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I'm looking 767.7 as support at the moment and if we stay above it looking next for around 770.8 area.

If we get below it all I see is garbage...that is to say no clearly defined S/R areas...those lines below on that chart I posted earlier are questionable at this point.

Above all that....775.5 then 781.2

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  #614 (permalink)
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This is the daily...hit the cloud today and stopped...

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Another trade today on the 30m (I didn't see it until now on the Ichimoku becuse I didn't look at that screen all day but did take a trade off a Kase chart )
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  #615 (permalink)
"simplify."
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crappy, choppy day

thanks for the charts. once i have 4 minutes, i'll learn how to post my own.

took $360 out of the market (mainly YM tho). i learned yesterday, by getting my ass burned, that TF is just too damn volatile for me; dow much more predicable, almost "telegraphing" it's moves, which helps. one of my 2 losers today was for $80 on......the tf. huh.


i know many, many of you love that tf, but to me it's maddening. ES is traded almost exclusively by pros, CL is too expensive for me right now, and when i get stopped out at -7 ticks on the tf, only to watch my anticipated move appear before my eyes...

i signed up for this forum for access to professional information/mentors, which i've certainly gotten. any advice out there? is there an instrument i can trade that's *somewhat* volatile, yet *somewhat* predictable, with low intraday margins?

--nate
husker nation

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  #616 (permalink)
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nate99 View Post
thanks for the charts. once i have 4 minutes, i'll learn how to post my own.

took $360 out of the market (mainly YM tho). i learned yesterday, by getting my ass burned, that TF is just too damn volatile for me; dow much more predicable, almost "telegraphing" it's moves, which helps. one of my 2 losers today was for $80 on......the tf. huh.


i know many, many of you love that tf, but to me it's maddening. ES is traded almost exclusively by pros, CL is too expensive for me right now, and when i get stopped out at -7 ticks on the tf, only to watch my anticipated move appear before my eyes...

i signed up for this forum for access to professional information/mentors, which i've certainly gotten. any advice out there? is there an instrument i can trade that's *somewhat* volatile, yet *somewhat* predictable, with low intraday margins?

--nate
husker nation

You could try the NQ if you haven't already.
Yeah, the TF is not for everyone...you just have to find the one your most comfortable with, for me it is the TF for others the ES or the YM are the ones they like. I do trade ES once in a while if I see something good to jump on but other than that I stay away becuase of all the never ending chop.

All that being said I would submit to you that you try something other than all those averages and bands and stuff like that, it's probably distracting you more than anything else. Also bear in mind that a moving average is just an average not necessarily a S/R spot. If you don't want to do that's ok but put most of your focus on PA at significant levels...if nothing else watch the areas around the high and low of the previous days.

If you look at the charts I post other than Ichimoku you don't see a whole bunch of indicators and I make money so that should tell you something.
Yeah occasionally I'll play around with various things and sometimes some averages but when it comes to making a trade decision it's always PA that makes the call.


Edit: By the way if losing 7 ticks is a problem The TF is probably not for you for sure....I'm pretty good with it and use about a 10 tick stop but maybe up to 30 depending on the situatiion. I don't really want to explain how I deal with stops because it would only confuse you but for sure 7 ticks is to tight.


Last edited by kbit; June 27th, 2012 at 08:40 PM.
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  #617 (permalink)
"simplify."
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@kbit:

i simply couldn't agree with you more on pt. 1--the es, forget it. unless you're a true, seasoned gunslinger, it ain't gonna happen. like in cool hand luke, you gotta know when you're beat.

pt 2: levels.

it's funny you mention this. just the other day i was on futures.io (formerly BMT), and read regarding this issue; that floor traders themselves never, ever trade with an actual chart. they get their levels in the morning, then make money. i've known for some time that it's all about levels, but which ones? hell, fib, retracement, this, that: what method is mathematically accurate? profit-accurate? not that i haven't done my research: is fib even true? the "golden ratio" and all that....facts? evidence?

pt 3: indicators.

also funny that you mention this. throughout my on-again, off again affair with the trade, i've learned that price action is where it's at. all that multi-colored crap on the screen (just using the ole laptop here), i can't stand it. additionally, and self-admittedly, i want to be among the best. the best study levels and action.

pt. 4: the tf.

absolutely. but i just cringe to think about losing 10 ticks...starting out, i'll be trading one contract only until i can earn two, three, etc., on my own, the deal i made with the wife. fair to me: never throw good money after bad.

thanks kbit--i sincerely appreciate any, and all advice. i am anxious to learn from a true pro. and to me, if you're making money and not under the enslavement of a superior, you have achieved mastery and freedom.

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  #618 (permalink)
"simplify."
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one more thing

"The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor."


--j. livermore

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  #619 (permalink)
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As far as levels go...like I said if nothing else look around the highs and lows of the previous days....there is a reason price turns where it does.

I'm guessing you know how to figure out S/R areas in general but if you don't do some research.

That's what all the bullcrap boils down to...find the best S/R areas and look for PA and get in and look to get to the next area.

Also learn how to deal with getting a trade around the levels...for example watching price go through a level and then waiting for a pullback/retracement and confirming PA to get in....

I don't want to write a book or lecture you on what you may already know but you get the idea.


Last edited by kbit; June 27th, 2012 at 09:27 PM.
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  #620 (permalink)
"simplify."
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@kbit:

how did you learn all this yourself?

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