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Identifying Trend DAys (early)
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Identifying Trend DAys (early)

  #1 (permalink)
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Identifying Trend DAys (early)

Hi there,

So my trading plan exclusively focuses on trading trend days (not just bc today was trend day), and I have extensively scoured google looking for information on what is reliable indicators for a trend day. I have read virtually every article on identifying trend days (Corey Rosenbloom has some great articles, wish Mike would do a webinar with him), usually occurs when there is a gap (and it holds), and news doesn't make expectations, $Tick usually goes to -1000 (I think).

I am interested in trading trend days from just after the opening range, to near the close, but since the primary risk is in a major reversal, price ripping above the EMA's (and getting stopped out for a large amount). My current objective is to simply trade the parabolic ones, not the rotational ones.

Issues I'd like to address are 1) who on this board are the "experts" on trading trend days 3) What is a good system to trade trend days (ACD?) 2) What are the reliable ways to identify them (relatively early on).

Also if you could share your experiences if you had attempted to trade trend days.

I would like to have the opinions of the Big Mike Forum greats such as @tigertrader , @Fat Tails , @mfbreakout


I am very determined to be successful at trading trend days (and I will, maybe not tommorrow, or the next day.........).

Thank You.


Last edited by budfox; March 16th, 2014 at 04:36 PM.
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  #3 (permalink)
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budfox View Post
Hi there,

So my trading plan exclusively focuses on trading trend days (not just bc today was trend day), and I have extensively scoured google looking for information on what is reliable indicators for a trend day. I have read virtually every article on identifying trend days (Corey Rosenbloom has some great articles, wish Mike would do a webinar with him), usually occurs when there is a gap (and it holds), and news doesn't make expectations, $Tick usually goes to -1000 (I think).

I am interested in trading trend days from just after the opening range, to near the close, but since the primary risk is in a major reversal, price ripping above the EMA's (and getting stopped out for a large amount). My current objective is to simply trade the parabolic ones, not the rotational ones.

Issues I'd like to address are 1) who on this board are the "experts" on trading trend days 3) What is a good system to trade trend days (ACD?) 2) What are the reliable ways to identify them (relatively early on).

Also if you could share your experiences if you had attempted to trade trend days.

I would like to have the opinions of the Big Mike Forum greats such as tigertrader , fattails , mfbreakout


I am very determined to be successful at trading trend days (and I will, maybe not tommorrow, or the next day.........).

Thank You.

The best system to trade is the one that fits your personality. Select a system that you can commit to. If you’re like most you’ll start with a system and adapt it to your trading personality.

Reliable ways to tell the trend, depending on what time frame you trade, look at higher time, tick, or range. Learn patterns, how price moves, S&R, and you'll be able to better speculate on the direction. Remember you are trading against people, not price, not indicator, or whatever.

Trends are fractal; there are typically more range days than trend days. Learn to identity trend exhaustion. Sometimes you'll anticipate an S&R level and it will stop and pause and keep blowing through the levels. Don't ignore the obvious. Today was a big trend day, but there are little trend days too. I can point you to a trend exhaustion video if you want, message me if you’re interested.

Happy trading!

"Small disciplines repeated with consistency every day lead to great achievements gained slowly over time."
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  #4 (permalink)
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teamtc247 View Post
The best system to trade is the one that fits your personality. Select a system that you can commit to. If you’re like most you’ll start with a system and adapt it to your trading personality.

Reliable ways to tell the trend, depending on what time frame you trade, look at higher time, tick, or range. Learn patterns, how price moves, S&R, and you'll be able to better speculate on the direction. Remember you are trading against people, not price, not indicator, or whatever.

Trends are fractal; there are typically more range days than trend days. Learn to identity trend exhaustion. Sometimes you'll anticipate an S&R level and it will stop and pause and keep blowing through the levels. Don't ignore the obvious. Today was a big trend day, but there are little trend days too. I can point you to a trend exhaustion video if you want, message me if you’re interested.

Happy trading!

Ok let me rephrase the question: "How do YOU identify trend days?" Market Profile?

Thanks for the reply.

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  #5 (permalink)
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budfox View Post
Ok let me rephrase the question: "How do YOU identify trend days?" Market Profile?

Thanks for the reply.

I look at higher time frames. I look at trend exhaustion. I typically trade a few different types of patterns. Sometimes a trade might start out as an equal move projection or what have you and then it might stop and pause and continue to breakout like yesterday. I'm a discretionary trader, after seeing the market for sometime I've been able to pick up on certain things, somethings you'll like and other you won't. It sounds like to me if you want to be a trend trader you should probably work on reversals or breakouts(ACD method) which I believe is the ACD you are referring too.

Simple answer would be, being able to identify trend exhaustion which will help you identify trending days in my opinion, because you'll be able to anticipate a change of the trend and go in that direction.

"Small disciplines repeated with consistency every day lead to great achievements gained slowly over time."
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budfox View Post
Corey Rosenbloom has some great articles, wish Mike would do a webinar with him

Multiple webinars with Corey are already in the webinars section. You should search.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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I chuckle ...

every time @BigMike

Hey if you get around to it you should start a blog style forum, you could even have a chat room. Traders from all over the world could meet to exchange ideas and collaborate.

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wldman View Post
every time @BigMike

Hey if you get around to it you should start a blog style forum, you could even have a chat room. Traders from all over the world could meet to exchange ideas and collaborate.

Sounds like way too much work, I'll pass.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #9 (permalink)
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Hey man...

@Big Mike

I do have a latent fear that one day you say, "screw this" and the platform slowly declines without you. I hope that does not happen but I can not imagine how much work and how frustrating it is at times. My bet is you will meet a beautiful woman and find everything else you dream about in your new home. I hope for that for you. If futures.io (formerly BMT) takes a secondary role, I'll just be happy for the time I had and all I found there. Be well man. Trade well and live well. Dan


Last edited by wldman; March 14th, 2014 at 02:12 PM.
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Risks


The main risk with trading trend days is if it actually turns out to be a trap, and your stop is under one of the MAs, then you could lose a few points really fast.


I am currently researching where to enter on trend days: 10ema on the 1min vs 20 ema on 1min , Corey says enter on the 20ema on the 5min, but that doesnt work if the trend up is parabolic.

Would like more input from those who are similiarly focused on trading trend days.

Hey keep in mind I have a very primitive platform, so I dont have access to @tick and all that fancy tools you guys use.

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