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all momentum trades, he determines the short term trend and is waiting for p/b's we dont always get a deep p/b and some times you have to jump in on a small p/b that ranges for a second.. I'd take most of these trades except the long at the bottom.
candle sticks and price action... but that is some big size kudos to him
-P
"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
Can you help answer these questions from other members on NexusFi?
Imho... it is not possible to understand others' trading system with just a couple of trades as example... that too... when the other person is not willing to tell you anything... There is a LOT of room for interpretation here... and it is better to let go than speculate about what that other person is doing...
Are these "spy" photos taken when your friend's head was turned? lol
The blue lines with center white MA look like bollinger bands(?). Along with those I'd theorize the yellow MA are also used as dynamic s/r lines.
First pic, first entry:
Yellow MA acting as resistance. Price action shows two positive "legs" already. (Al Brooks likes to count in two legs of PA movement). So a higher probable reason to go short to attempt to make a double bottom after a two-legged move. Also noticing on the left, a single up bar amidst two legs of down(red) bars. Exiting close to edge of lower bollinger band coinciding with a typical 1pt scalp target.
second entry:
one tick break of top of previous high, after pattern of double bottom, even though imperfect, probably still counts. lower oscillator breaking through mid-orange band, presumably some weighted volume average. That and looking for pa to continue long hoping for continuation to the upper band target area on the theory that price breaking through a bollinger midline would eventually reach the other band side. Also goes for two legs long, which continued after the three dojis after the first leg. room to move to upper bband, so it looks like he waited for 2pt target after second leg of three green up bars.
third entry:
maybe counting a first leg after pullback to middle bollinger white line, and entered close to the prior three dojis acting as resistance. So basically going for another second leg within the upper bband area after breaking through the mid-whiteline. Not too sure, so after second red bar showing weaker positive action, decided to exit early for half point.
second pic, first entry:
kind of late, but hard to tell with so many consecutive up-green bars. So maybe he was going for pa to eventually touch the upper blue bband line.
second entry:
yellow MA acting as support, so banking on a second leg movement back to the blue bbline.
third entry:
tough reasoning. my guess is maybe going for a second leg long, after the first small long leg which bounced off the yellow MA line, particularly after the first strong long green move, if that makes sense. He may have been betting on residual long momentum sentiment so scalped for that last third leg back to the upper blue bband line.
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I could be way off and it could be orderflow or whatever, but just having fun theorizing in a pa way. I'd never really cared to learn the collections of 2 or 3 bar candlestick patterns other than basic sense of single strong vs. weak bars. I'd noticed your friend has some good early entries and was not waiting for breaks of highs or lows of bars in many instances. If he's truly trading 70 car live, wow, some nice and confident minimal indicator/pa trading there imo.
Is it just me or is this very sketchy... You have a friend that won't share and you're being a friend by secretly taking a photo and posting this to a public forum?
I'm with you Pa Dax
No idea what he wants to tell us with this picture. He says he wants to learn candlestick-pattern, but I cannot see any candlestick pattern on this pictures, watching this pictures I would say "pure randomwalk" the only reason for this entries could be price-action.
Since you seem to not know much about this type of stuff, perhaps he is just sim trading.
The reason I say this, is the picture you show shows a 17 tick stop.
If that is allowed to play out, that is a $14,000 loss in one trade.
This is possible but not likely a live market trade unless the trader is either very successful or using market $$.
Perhaps you should get a picture of his chart showing the live account or sim account.
If he were trading and successful with it, why would he allow you are any one else to see it?
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
@Cloudy: These were provided by him. I was not physically present there otherwise, there would not be any need for me to post this here...
@DavidHP: There is no 17 tick stop. It's strictly a 5 tick stop, the only exception being first picture, second trade taking 8 tick profit with an 8 tick stop.
These are all strictly 1 point scalps which now he trades with 100 contracts LIVE, NOT SIM. This is confirmed.
