1.For Intraday trading, Do the pros establish long/short positions within trading ranges first, and then perform markup/markdown?
Or all they buy is what they buy while marking up only? Do they start markup right from the first lot they buy? In other words, they mark up and accumulate simultaneously?
2.If you see large limit orders at round/whole numbers(price levels like 855/900 etc......as compared to price levels like 853.60/851.35 etc.), how much likely is it that it is coming from the public? Do the pros put large limits at round/whole numbers too? If yes, do they do it for real trading or just faking to the public?
3.There are many groups of professional traders.Some of them execute trades intraday,while others take longer positions like weeks or months. Are the longer term professionals financially more powerful than the intraday professionals? Does the 2 groups compete against each other or they work in harmony? I mean,does the intraday professionals sometimes face losses because of the activities of the longer term professionals or vice versa?
Last edited by rocky9281; August 5th, 2011 at 11:21 AM.
I mainly looked at it for divergence, and I found that Cumulative Delta divergence was no better then divergence from any other indicators, and was worst then some of the better divergence indicators. So, it did not add anything to my trading. I've never been able to determine any reliable systematic patterns just by looking at the bid ask numbers on the gom ladder.
Cool you got a video! The only thing I understand is - panimayesh?. And the answer is no, I dont understand.))) To make your video appear on the forum you have to put it like this - [y t] put the video url here [/y t] - Get rid of the spaces between 'yt'. I had to put it in because it wouldnt show up.
And try to make video quality little better next time.))) What software do you using? I know good settings for Camtasia if you need.
Last edited by pbylina; August 5th, 2011 at 06:27 PM.
If my stop kept getting hit and then reversing to go 15 ticks in the direction I wanted, and I kept seeing, then of course I would increase my stop. Simple common sense and experience. Don't worry. I know some people don't have common sense, but I got some))) And so far I am having no problems with 4 tick stop loss. So I will stick with it.)))
WARNING TO ALL NEWBIES!
Dont think by watching my videos, with no experience, that you will know how to read tape. Because you might think its easy, then try it then say "this is too hard, those guys make it look easy". At first its hard but then you start to get better. So like everyone has been saying. There is no replacement for experience and practice.
I was not gonna trade today due to reasons I mention earlier but I decided to make 1 trade because I could not ignore such a classic and good opportunity. Basically I saw tape stop a couple of time when approaching pivot and it stopped for me is a long time.(couple of second) I seen it stop twice, which is better probabilty then seeing it only once. Then after I place my order you see tape went passed my entry with some flow but it just got absorbed and went in my direction. I keep my mouse over reverse in case I know I am wrong. And when 5~ in profit, I see good flow up in my direction. I know I was right and I put stop to breakeven. For some reason the ending of the video got cut off so you cant see my exit. Its just a couple seconds after the cut off. Basically I got out at with $158. It went to 1.xx80~ . I exited early but I dont care. I am happy with atleast $100 and I wanted to end the week on a good start. I am happy. 3 of 3 days this week were positve. $132 Monday, $575 Tuesday and $158 Friday. Grand total for this week is: $865
Thanks Bloom once again for showing me one color tape. You opened my eyes.))) I hope you are doing well too. P.s. How did you even think of one colored tape?
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Now your goal 2-3 months of training. Then if those 2-3 months would be 80% positive days each month or at least 60-70% positive days then it is a time for real. Good luck and keep on ))) and do not hurry. Now you do not need to hurry. All you need is to rase your skills and money will come. As you already understand there is no psychology "You have an edge and use it or not"
Psychology needed only than you know there is edge and you cant use it. But this not about you.
As yor TR skills will grow, start to learn fundamental analyse and BIG picture. Learn from pros. They dont use only TA. TR is not TA this is fundamental analyse of supply and deamand. I am glad you succesfull as you one of the readers who seriously do what i say ))))
I wish you more winning trades and days
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