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Vovan348 Day Trading TF with NFT setup
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Vovan348 Day Trading TF with NFT setup

  #251 (permalink)
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Fibs

It seems to me the key on 9/27 was Fib placement. It was difficult. For example, how do you set fibs when there was a big move overnight to new highs/lows? What were the Fib settings for the opening? It looks like they were 668.0 and 681.0. They pointed out the opportunities of the first 3 pivots. Please comment.

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  #252 (permalink)
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+4.4 points

4 trades, but only 2 losers.

Today I could see direction and pivots much better. It was much easier day for me.

I knew that my last trade gonna go much lower. I didn't want to get greedy and took profit from 76%.

Here are my trades and Summary:
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I'll post my video when it's ready. It seems like people don't like watching loosing days. Haha... To me loosing days are days when you can learn more about yourself. At days like today I think a lot of people can make money and no matter what swing they take. To me winning days are good to get confidence in what you are doing and loosing days give you a lot of difficult situations testing your emotions and knowledge! Like yesterday I feel like I didn't have enough knowledge to handle it and the most important I couldn't control my emotions and made a lot of mistakes.



Last edited by vovan348; September 28th, 2011 at 01:20 PM. Reason: Add video
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  #253 (permalink)
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HighRise1202 View Post
It seems to me the key on 9/27 was Fib placement. It was difficult. For example, how do you set fibs when there was a big move overnight to new highs/lows? What were the Fib settings for the opening? It looks like they were 668.0 and 681.0. They pointed out the opportunities of the first 3 pivots. Please comment.

That was tricky for me also. How do find right position for them that's a good question. When I see pivot on the pull back I try different positions and I'm looking for that pivot to match 23% or 38%.

If you watch my video you'll see my fibs. The only problem for me was that I expected price to go deeper to 76% before heading back up.

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  #254 (permalink)
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Good trading today!

A tough day with small stops no doubt. 1 point plus bars makes it difficult for confirmation.

I would have missed trading today so I won't count it, plus the kids kept coming in and all kinds of work started getting on my mind.

Your 1 point stops would have come in handy today. haha..

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  #255 (permalink)
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bluemele View Post
Good trading today!

A tough day with small stops no doubt. 1 point plus bars makes it difficult for confirmation.

I would have missed trading today so I won't count it, plus the kids kept coming in and all kinds of work started getting on my mind.

Your 1 point stops would have come in handy today. haha..

Thanks!!!

I thought it was a really clear day today and everybody will make a lot of points. Then I saw Julia's video and I was really surprised that she didn't do so well. I guess we are all people and can make mistakes no matter how nice it looks like to others!!!

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  #256 (permalink)
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vovan348 View Post
Thanks!!!

I thought it was a really clear day today and everybody will make a lot of points. Then I saw Julia's video and I was really surprised that she didn't do so well. I guess we are all people and can make mistakes no matter how nice it looks like to others!!!

Yup. She was really thinking 'long', Horst was thinking short, I was thinking short, then long (I was right!) but even then with the long bars it really didn't matter.

I am going to watch your video and see why you thought it was short on that last short down. I saw the trendline, but those MACD's seemed LONG to me.

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  #257 (permalink)
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Oh, I really like your new one-screen setup. It looks nice and clean.

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  #258 (permalink)
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bluemele View Post
Oh, I really like your new one-screen setup. It looks nice and clean.

Yeah! I moved my 610 MACD to the bottom and I got rid of 233 and 987. Now it looks really nice.

I figured that we are missing 2584 between 1597 and 4181. If we can trade without it why do we need 987 and 233. I know that 377 and 610 are closer together than the rest of them and I would have to do 144,377,987,2584,6765. But I feel that 610 is really important to me and I danced from 610 higher.

I'm just trying to make it as simple as possible. I think I can get the same result without those two MACDs.

And another thing that can help you holding longer. Use 144-377 for entries and do not look at them for managing your trade. If you know that you are on the move to the next fib level look only on 610-4181 or what ever is larger time frame is for you.

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  #259 (permalink)
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vovan348 View Post
And another thing that can help you holding longer. Use 144-377 for entries and do not look at them for managing your trade. If you know that you are on the move to the next fib level look only on 610-4181 or what ever is larger time frame is for you.

Yes, but doing that I would have lost even more during the never ending up up and up days of the spring. That is the way I learned, but I couldn't figure out how to get my couple points to 'recover' me picking the wrong direction. I agree when the market ranges this works. When the market trends hard and you are on the wrong direction, this is harder. The trick for me is trusting that I have chosen the right direction. If I knew that, that is 99% of the challenge in my opinion.

Per the MACD's, I agree somewhat, but I have found that 987, 1597 and 4181 lining up is safer and that the 610 has more fake-outs to me. But, as far as proper spacing, yes that makes all the sense in the world.

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bluemele View Post
Yes, but doing that I would have lost even more during the never ending up up and up days of the spring. That is the way I learned, but I couldn't figure out how to get my couple points to 'recover' me picking the wrong direction. I agree when the market ranges this works. When the market trends hard and you are on the wrong direction, this is harder. The trick for me is trusting that I have chosen the right direction. If I knew that, that is 99% of the challenge in my opinion.

Per the MACD's, I agree somewhat, but I have found that 987, 1597 and 4181 lining up is safer and that the 610 has more fake-outs to me. But, as far as proper spacing, yes that makes all the sense in the world.

I don't think we are at the same page here.

I didn't mean to look for entries only at 144 and 377. Today was going down all day long. Downtrend started yesterday around 14:30 and till today's close and maybe continue tomorrow. if you look on the bigger time frames it's been longer than that, I just don't wanna go there.

So what I meant that you find direction looking at the bigger picture first like I showed at 6765 earlier. We had nice separation at 6765 when we got to the deep yesterday divergence at 4181 an 1597. That means that that area most likely gonna hold. Then we got first pull back down straight to 38%. We didn't have pull back from 23% that means we are gonna get something at 38% but when we get to 38% you look at MACDs to make sure that we are getting ready for pull back. If you see that we are ready you look at 144 and 377 waiting for a nice pull back to trend line, to the deep what ever works for you. The point is to fine tune your entry by looking at 144 and 377 when you got to the area at the bigger picture. If you see that we are going up and up all day as you said you should get in long from 144, but manage you trade looking at bigger time frames because 144, 233,377 and even 610 can show you short many times on the way to your target and you'll close your position way too early. Here is example from today. I closed my trade at 76% without any management. I didn't want to get greedy and I was afraid of quick push up before going lower. But according to my analysis we should go to the next area which is 50%. Would you look at 144 you would never hold it all the way to the target because 144 and 377 was telling long so many time on the way there.
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If you want just scalp 2-3 points that works very well, but you said so many times that you want to hold longer and get profit from big runs. I think that's the only way you can do it. Remember you told me about Roger that would give away 5 point run and take a loss, but would get 12 points on the next move.

Just think about it!

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