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The Italian Job
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The Italian Job

  #21 (permalink)
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Tip


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  #22 (permalink)
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No trades today, in Italy we are celebrating the Republic Day and I will probably be out for this long weekend. I will start posting again on Monday.

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  #23 (permalink)
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redratsal View Post
No trades today, in Italy we are celebrating the Republic Day and I will probably be out for this long weekend. I will start posting again on Monday.

Enjoy your mini



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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  #24 (permalink)
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Family is still sleeping I just wanted to post a trade I did early morning


I will enjoy my long weekend and post back on monday

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  #25 (permalink)
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Well done! I have the same VWAP indicator and I added the SD2s lines but in a light color, to not interfere in my trading decisions. I saw it bounce two times and I thought, if @redratsal were trading it he would have made money haha. Have a nice weekend!!!

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  #26 (permalink)
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Dazed and confused 2...

@redratsal,

I am confused that you risk 500 ticks for a trade (not really risking it all I guess) and then limit trades to buy-down/sell-up to increase the likelyhood of profit.

But, like today, you have a 15 tick target and what happens if it shoots down 80 ticks quickly (which I have seen it do)? Do you reverse like you mentioned, and if so, what if you reverse right where it turns again, and again and again, and then consolidates etc..

I guess I am trying to understand your money management a bit better and how that has worked out for you. I have spent many months trying different concepts and curious on your thoughts.

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  #27 (permalink)
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bluemele View Post
@redratsal,

I am confused that you risk 500 ticks for a trade (not really risking it all I guess) and then limit trades to buy-down/sell-up to increase the likelyhood of profit.

But, like today, you have a 15 tick target and what happens if it shoots down 80 ticks quickly (which I have seen it do)? Do you reverse like you mentioned, and if so, what if you reverse right where it turns again, and again and again, and then consolidates etc..

I guess I am trying to understand your money management a bit better and how that has worked out for you. I have spent many months trying different concepts and curious on your thoughts.

Your questions are legitimate; my method is based on past results which are more than acceptable from what I need. I am not risking 500 ticks on every trade, Price Action is determing the exit point. As you will discover with my daily results this method is giving a very high percentage of winning trades (yesterday I did just one trade because I was on Holiday; I wanted to honor my daily posting on the thread). The problem having a high daily success of trades is not accepting a loss and if the market turns strongly against you and you keep scaling in it can lead to very bad consequences for your bank account, hence the stop limit management. The real problem with this method is not how to make money but rather how to keep it


I do reverse if the market is strongly against me, I look forward to show an example, the best for me is to avoid the trade, with all the instruments I have available. Assuming that the market is much less in a trend than in a range day that is where I am digging my trades. The method is based on countertrends, you can apply it to breakouts as well, but this is another thread

With only 5 trades it is difficult to understand a method that is why I will post for the next 60 days and have a brainstorming with the forum.


Last edited by redratsal; June 4th, 2011 at 01:54 PM.
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  #28 (permalink)
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Cumulative Delta

Yesterday I did not trade, I was on Holiday but I noticed a short exhaustion on 6E. In the chart below you will notice that there is a strong decrease of Volume Delta Value which is not bringing the price down as expected but rather bringing it up. I assume the longs are closing their positions but there are no shorts interested and new longs are coming in bringing the price to HHs . That is a typical situation where I don't want to be in for a countertrend setup, if it's the case, I get out asap and try to limit my loss.

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Last edited by redratsal; June 4th, 2011 at 07:14 AM.
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  #29 (permalink)
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Just wanted to thank all the members who viewed and thanked this thread, this is a trailer of the 2003 remake movie, the original was made in 1969


Last edited by redratsal; June 5th, 2011 at 04:15 PM.
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  #30 (permalink)
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Vwap


Volume-Weighted Average Price (VWAP) is exactly what it sounds like: the average price weighted by volume. VWAP equals the dollar value of all trading periods divided by the total trading volume for the current day. Calculation starts when trading opens and ends when trading closes. Because it is good for the current trading day only, intraday periods and data are used in the calculation.

The VWAP is calculated using the following formula:
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where:
PVWAP = Volume Weighted Average Price
Pj = price of trade j
Qj = quantity of trade j
j = each individual trade that takes place over the defined period of time, excluding cross trades and basket cross trades.


Vwap is used to identify liquidity points. As a volume-weighted price measure, VWAP reflects price levels weighted by volume. This can help institutions with large orders. The idea is not to disrupt the market when entering large buy or sell orders. VWAP helps these institutions determine the liquid and illiquid price points for a specific security over a very short time period.

VWAP can also be used to measure trading efficiency. After buying or selling a security, institutions or individuals can compare their price to VWAP values. A buy order executed below the VWAP value would be considered a good fill because the security was bought at a below average price. Conversely, a sell order executed above the VWAP would be deemed a good fill because it was sold at an above average price.

Some intraday examples:

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