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Short term TF trading


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Short term TF trading

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  #731 (permalink)
London England
 
Experience: Beginner
Platform: Metatrader
Trading: Spot $
 
Posts: 90 since Apr 2012
Thanks: 1,075 given, 134 received


indextrader7 View Post
Pretty good day today. Happy with it given the conditions today. I have switched platforms over to multi charts, and tomorrow will be our first day trading live with it. Problems with NT today put a nail in that coffin. So far, I think I may like multicharts better than ninja. I like discretionary entry with partially automated exits, and it's a breeze with MC.

first trade was a beaut. 2nd one was the wrong side to be on, but managed well. 3rd trade I was too quick to move stop to breakeven and ended up missing the exact move I was looking for.


Hey man thanks as always for sharing the above and congrats on a great trading day. Just wondering I can see clearly why you took the last 2 trades but the first I can understand the logic but looking at the action the selling actually looked more aggressive than the buying with long tails absorbing all the strength. Looking at the structure you had a big aggressive move down then price was making higher lows so strength coming back in but had got quickly rejected before it could get above the previous major swing high. Can I ask what made you confident long was the trade to go with? To me looking at it and being honest with myself I think I would have looked at that as a more complex pullback continuation of the downtrend. I know you have excellent trade management so your entry was good anyway and I'm sure if it showed you that it was an incorrect trade you would have been out with a minimal loss. What I find interesting looking at this chart is it does seem to me that the hardest trades to place sometimes are the best that is what I am finding with my trading at the moment.

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  #732 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012



Here's how I see it:

Yes, the push down from A to B, certainly strong bearish move. As we pull back to C, we're looking to get short and follow that strength to the downside.

The problem is that as we attempt to push lower heading down to D, buyers step in and we aren't even able to get down to the lows of the previous swing low B. Not only that, but buyers now push price up strongly to E. We've now printed a higher low and a higher high.

As we swing down to F, momentum slows, and offers a textbook entry.

I hope that makes sense.

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  #733 (permalink)
London England
 
Experience: Beginner
Platform: Metatrader
Trading: Spot $
 
Posts: 90 since Apr 2012
Thanks: 1,075 given, 134 received



indextrader7 View Post


Here's how I see it:

Yes, the push down from A to B, certainly strong bearish move. As we pull back to C, we're looking to get short and follow that strength to the downside.

The problem is that as we attempt to push lower heading down to D, buyers step in and we aren't even able to get down to the lows of the previous swing low B. Not only that, but buyers now push price up strongly to E. We've now printed a higher low and a higher high.

As we swing down to F, momentum slows, and offers a textbook entry.

I hope that makes sense.

It makes perfect sense thank you for taking the time to do such a detailed analysis. I would definitely have been looking at the fact that it was failing to make new lows which I suppose should have overridden any other nuances (like the selling tails) and given me the sign that strength was coming back into the market.

Thanks again.

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  #734 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

To me, today was frustrating. CL was much slower than usual due to the circumstances with the hurricane.

I love trading. I love the challenges, the tough decisions, the emotions, the game.

Still made money though (21 ticks). Which is a good thing.


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  #735 (permalink)
london/england
 
Experience: Advanced
Platform: Sierra charts, NinjaTrader, VK Trader
Broker: CQG, AMP, VK, Kinetick
Trading: CL/6E/TF/ES
 
Posts: 952 since Sep 2011
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indextrader7 View Post
To me, today was frustrating. CL was much slower than usual due to the circumstances with the hurricane.

I love trading. I love the challenges, the tough decisions, the emotions, the game.

Still made money though (21 ticks). Which is a good thing.


Hey, how did you find mulit charts today?

Ninja Trader is wearing me thin too latley

" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
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  #736 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


greenr View Post
Hey, how did you find mulit charts today?

Ninja Trader is wearing me thin too latley

LOVE IT. I'm (almost) happy all this happened. Else I would not have tried anything else and known the difference.

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  #737 (permalink)
Legendary Market Wizard
Georgia, US
 
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indextrader7 View Post
LOVE IT. I'm (almost) happy all this happened. Else I would not have tried anything else and known the difference.

When you get tired of MC, try Sierra.

Congrats on your recent success by the way!

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  #738 (permalink)
London England
 
Experience: Beginner
Platform: Metatrader
Trading: Spot $
 
Posts: 90 since Apr 2012
Thanks: 1,075 given, 134 received


indextrader7 View Post
To me, today was frustrating. CL was much slower than usual due to the circumstances with the hurricane.

I love trading. I love the challenges, the tough decisions, the emotions, the game.

Still made money though (21 ticks). Which is a good thing.


Great stuff my man thanks for this, I love how your biggest trade of the day was when you reversed your position bias completely changed took the loss and got in the opposite side. Masterful trading.

What are you using as your short and long term charts these days?

I know you've studied Beggs as well have you read any Al Brooks?

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  #739 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


cmmichaels View Post
Great stuff my man thanks for this, I love how your biggest trade of the day was when you reversed your position bias completely changed took the loss and got in the opposite side. Masterful trading.

What are you using as your short and long term charts these days?

I know you've studied Beggs as well have you read any Al Brooks?

Long term mainly stays on 3min, but I'll glance at a 30min a few times a day. mid term is the 250tick, and I look at the 2range for lower timeframe.

I've never read anything from Brooks, but I know a lot of people like it.

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  #740 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012



josh View Post
When you get tired of MC, try Sierra.

Congrats on your recent success by the way!

Thank you Josh. Really.

Tell me more about Sierra, why is it so much better for you?

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