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Koyaanisqatsi Hototo--wldman out of balance
Started:May 14th, 2012 (07:40 PM) by wldman Views / Replies:49,797 / 695
Last Reply:November 1st, 2016 (03:53 PM) Attachments:53

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Koyaanisqatsi Hototo--wldman out of balance

Old October 13th, 2016, 10:31 AM   #681 (permalink)
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wldman View Post
a divergence "call" is subjective, that is to say discretionary. What qualifies and what else should be or needs to be present to make a case for trade?

Easy enough to mark time looking for divergence, but often beautiful divergences result in ugly trades. So what does divergence need to bring along to make her a good date?

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I'm enjoying your journal @wldman, Good to see you back in action. Your post got me thinking and she needs some relative volume to start to make her a good date...if she is the only one at the bar then no one 'll buy her drinks!

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Old October 13th, 2016, 10:59 AM   #682 (permalink)
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Interesting journal. I also look for divergence opportunities to trade although I use a different indicator to identify them. Definitely following along.

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Old October 13th, 2016, 11:33 AM   #683 (permalink)
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Thank you...


@JohnS and @Comeback King

I like to post real questions that I have regardless of my own experience or result because when you listen you tend to learn more than when you talk... But I talk a lot too.

That oscillator is a volume metric. I use it to see where the volume at price flips bid to offer or offer to bid. There are a few ways folks are using that type of information. The trick, or a point that needs clarification is knowing the persistency of the volume price relationship. In a calm or sideways market I think that can be done looking to the current range. When the market swings like a barn door, I think you look for something that indicates a break from the range...that would likely be price as PA is king or it would be volatility or momentum.

So that is what I'm trying to work through right now, method wise.

This looks like a good cover followed by a counter trend swing. But if I just "rule" volume divergence without any other clarification it is just a little better than 50/50.

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Old October 18th, 2016, 02:40 PM   #684 (permalink)
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Someone asked...

about communicating with their wife about the trading process and how things were going. The idea was to hold support within the relationship, I believe. The question referenced relative shock over a $200 loss...which indicates a long long road to regular consistent profitability. Reality is a dream crusher in this business, so no need for wldman to overstate that. I have used this daily checklist in various forms for over twenty years. Yes it does relate directly to my specific worldview, which I acknowledge is not universal. I offer it here as a guide to folks that might find value in being honest with people...that journey always starts on Me Street.

1. God did not give you a spirit of timidity, but a spirit of power, of love and of self-discipline. Pray that you will have wisdom to learn, strength to persevere, self-discipline to remain true to yourself and the courage to be honest and humble.

2. What are today's dedicated trading hours during which no other activity divides focus?

3. What are the specific personal and financial goals for the trading day?

4. How will you stay focused and concentrate throughout the trading day?

5. Will you kill losers when they are little?

6. Will you maintain profits until you reach target and let them run from there?

7. When you trade by your rules with courage and discipline to stay on method what will happen to your daily result?

8. Did you adhere to all of the rules today and remain peaceful, positive, productive and goal attaining through every phase of preparation, winning and losing trades?

Today's Financial Goal ______ Today's deserved Result _____

This month's productivity goal _______ The result of my consistent effort thus far ______

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Old October 18th, 2016, 03:27 PM   #685 (permalink)
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Frustrated...

Futures Edge on FIO

Are you a NinjaTrader user?

 
that there is no easy way to show my charts based on the current screen layout. Reluctant to reorganize screens to facilitate that.

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Old October 18th, 2016, 03:47 PM   #686 (permalink)
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So...

I had really good luck today. It happens that the great luck coincided with a conversation elsewhere in which we were talking about 7 data points and the use of indicators, especially ones that display in the second panel. My layout does not facilitate a real good demonstration, but I wanted to make and reinforce a point with anyone that may have been there. The relationship between those seven items changes in various ways for various reasons. Here the relationship is volume/price that seems to create valid evidence long. It is really difficult to snap and annotate all three charts in the view especially across the day...BUT here is the thing PRICE is KING. Sometimes relationships can be observed and situations duplicated. This is a generalization. Often guys get way off the path looking for the secret mystic, the exact mix and precise settings that capture all the winners and promulgate out all the losers. That is chasing the wind. It does not and can not exist. There are though relationships between data points that do provide anecdotal evidence that in the proper experiential context can be applied with great success. This starts and relies almost entirely on price. Do not let the tail wag the dog, you will lose a shit ton of money. This is the biggest error in screen based directional speculation. Price is in the room and he says up or down...ignore that till I have all your money.

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Old October 18th, 2016, 03:48 PM   #687 (permalink)
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then..

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Old October 18th, 2016, 03:50 PM   #688 (permalink)
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with...

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Old October 18th, 2016, 03:53 PM   #689 (permalink)
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One time frame up..

Of course if there are questions, I'm willing.

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Old October 18th, 2016, 03:59 PM   #690 (permalink)
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If I could easily..


snap the charts, I would. The trades dont fit in the same viewable window. But this AM I said short 38 stop 40...I did not hold those till the 9:25-9:26 buy shown above because I was busy with necessary but stupid shit. But dang it that was making the most of good luck.

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