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ES entries/targets & risk/rewards

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  #1 (permalink)
Greensboro NC
 
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Deleted my original first post bc it was not reflecting what I wanted to learn from my journal.

Reason for this journal is to learn from others and their experiences, so all feedback or comments are always appreciated. I do not read directions I learn from hands on, I watch,observe, and improve my own methods this way, and thru trail and error eventually succeed.I'm at a point in my trading where I need input to evolve further. Listed below are the questions I want to learn answers to thru the help of others. But before commenting please ensure you have the experience to comment, there is a difference is saying and knowing I hope no one takes offense to this.

1) there are many confluences that line up, you that have traded know this. Currently I am trading a method that I feel is the safest, small time frame with targets, reason for targets is you define area to get out, where if you trade discretionary, in my experience I give up some when market goes against me wether its at my target or at my stop without hard set targets, you know you'll give yourself a reason to let it ride for a few more moves.
1a-is one form of tracking the market better than another? because I have yet to see a crystal ball indi. Up is up down is down-comments appreciated on this topic

2)using small time frame now but watch larger time frames so if the market speeds up I can run with it on a more traceable time frame

3)I believe in reading the markets emotion, and IMO this is the key to being successful today and tom. How one does this I am curious to learn your style, yes I have my way which is more chart based technical, and when trading I dont let myself trade off a bigger picture 4 times as large as my main chart because things change a small chart eventually makes up the large one

4)rate of failure being so high one has to wonder will I be able to do this under this type of failure rate into the future, I understand drawdowns, and this is why I am now so focused on R2R, Imo its the key to surviving in this industry. Now this is area I need to work on to follow the age old saying cut your losers short, let your runners run, that is so much easier said than done, hence my target strategy now

Now a little bout me, full time for 3.5 years, traded live most of time. Started with APPL,CAT,DE,and a few others learned about the HFT''s etc moved over to ES, tried a few other futures but my main reason for ES, its a volume monster so for my long term trading I will stay here with the Emini's. I have experienced many platforms flaws and failures which cost me dearly, can't express this enough to a new trader(reliability,performance and service)

In closing I want thank @Big Mike for the platform and welcome any suggestions

Happy Trading to us all
R

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  #3 (permalink)
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Rad4633 View Post
Ok recent threads have got me thinking about general questions and I would like the masses to chime in your thoughts. This will hopefully answer my questions on alot of stuff that I wonder about because honestly we dont know what the masses are doing or at least I dont

A recent thread by @dario1 on luck in trading, today in my last trade, was this luck ES went in my direction or was it that I knew there would be support on retrace, so were my odds 50/50 or better in my favor? My target was originally higher but I moved it down to NY open just bc I felt I needed too. I think this is how @Jedi has been expressing his way of trading. Im not much of a typer so this is my first post to my first thread. I have many other questions and examples I will add after the prior trading day is done which is RTH and ES only for me.

@Big Mike I searched for a thread like this and couldnt find one so if one exist please point me to it. This thread is to outline IMO all the confluences that I see (which can be confusing) and what different styles see in these areas and express why I would trade here and where my target would be, risk to reward etc. And then it is my hopes others can add to what idk which in the end I can evolve to a higher level than where Im at now, you say "do it a Journal" so here is mine

My question is, did you think this was a good level of support? What were your reasons for your entries? I just get the feeling that you are unsure if your trades were the right thing to do, but you may have seen someone else enter a trade at these entries.

I went long at the same level you did on your first trade, and it was based on a DB from a 60m chart and I waited to see if buyers were going to be responsive here and when I felt that buyers were coming in I got in myself. I waited 3 hours to close my 2nd target and I tightened that.

Back to your trades, I can see entering a long off the first SD after we made a HH which too me is a bullish move and even your 2nd trade we made another HH again another bullish move.

Based on your question and how you asked you really had no idea what you were doing or why you enter where you did. My suggestion is to read and other price action threads and other journals here in the forum. Ask questions in threads if you don't understand something. There is a wealth of knowledge here in the forum, but [B]most[B]importantly you have to do the work yourself. It takes dedication and hard work to make it in this business and if you feel your not cutout for this then don't risk your money. I hope this is helpful and I apologize if it is not.

Ryan

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  #4 (permalink)
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itrade2win View Post
My question is, did you think this was a good level of support? What were your reasons for your entries? I just get the feeling that you are unsure if your trades were the right thing to do, but you may have seen someone else enter a trade at these entries.

I went long at the same level you did on your first trade, and it was based on a DB from a 60m chart and I waited to see if buyers were going to be responsive here and when I felt that buyers were coming in I got in myself. I waited 3 hours to close my 2nd target and I tightened that.

Back to your trades, I can see entering a long off the first SD after we made a HH which too me is a bullish move and even your 2nd trade we made another HH again another bullish move.

Based on your question and how you asked you really had no idea what you were doing or why you enter where you did. My suggestion is to read and other price action threads and other journals here in the forum. Ask questions in threads if you don't understand something. There is a wealth of knowledge here in the forum, but [B]most[B]importantly you have to do the work yourself. It takes dedication and hard work to make it in this business and if you feel your not cutout for this then don't risk your money. I hope this is helpful and I apologize if it is not.

Ryan


Thank you for your reply, I lack in my wording in post at times plus I like to ask things so I might get responses from others this helps me understand a different angle than one I might have seen.

Since @bizman70 and others have been in the chatbox as of late, I often am in trades around the same time as those some before some after(Im not using VPOC or va's as of now and have just added back in IB range just bc I see it used alot now), and I do make wrong calls more than I like(average 68-78%+ Ninja positive trades actually lower number % makes more $ bc of longer hold times. The reason i did the 2nd to last trade was we had just made a HH off yest low,then retrace back to a strong support level it isnt the -1st deviation i just added vwap back w IB's last night and use those for ref(Love my @Fat Tails Indi's, thank you H), it was off of my anapivots and the retrace of 61.8, the reason for my exit was another pivot and we were at a short time frame TL, so get paid and wait,my last entry was to early bc we had just retraced off a pivot and vwap and middle of RTH OR I should have waited till it retraced to a pivot then entered, my target was higher bc wrking on only taking 1riskto3reward trades but had to pull it down bc my gut said to I moved it to a pivot also a 20sma on my bollinger chart which gets hit 90% or more of the time, also it was NY open. i use bollingers on my big time frame which is = to 60 min its a hybrid. As of late Ive gone away from reading price action candles, although it is nice to see prior candle and last candle formed even on one end ensuring a reversal is taking place or see darva's etc But I have moved away from that and watch support/res areas and trade to next targets.

Just in me replyin to you, i have to say thx bc it makes one go over their trade when questioned. I never trade off another sorry @Jedi bro just cant do it,lmao.. Ok this is my first thread so I want everyone to show love and help me out, slam me beat me up this is what Im looking for bc I need it> and were not even going to talk about how much i paid the markets to get to this point. So Im calling all my futures.io (formerly BMT) mentors help me, wasnt planning on doing this but how will ya know I started this unless I do this @ThatManFromTexas @Silvester17 @cory @wldman @vvhg @Privatebanker @Silver Dragon @Gabriyele , one and only @tigertrader @creekboy @Big Mike @Fat Tails @Tiberius @kbit more to come PB beat me to this post he s already posted

My goal is to learn more about getting perfect (better)entries and why the majority hold on to certain targets and learn to trade to them I know the targets just some times I exit early. And last to get better RvsR trade setups so this means what i showed in today chart, being close on my stop to my entries which I am not used to, Is this how close you are to your entries?

@itrade2win curious about your IB indi I noticed you had it on a 750tick chart but I would suppose you still let it calculate off first hour, thats what im doing now in testing, thoughts?

thanks again for your reply

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  #5 (permalink)
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Rad4633 View Post
Ok recent threads have got me thinking about general questions and I would like the masses to chime in your thoughts. This will hopefully answer my questions on alot of stuff that I wonder about because honestly we dont know what the masses are doing or at least I dont

A recent thread by dario1 on luck in trading, today in my last trade, was this luck ES went in my direction or was it that I knew there would be support on retrace, so were my odds 50/50 or better in my favor? My target was originally higher but I moved it down to NY open just bc I felt I needed too. I think this is how Jedi has been expressing his way of trading. Im not much of a typer so this is my first post to my first thread. I have many other questions and examples I will add after the prior trading day is done which is RTH and ES only for me.

@Big Mike I searched for a thread like this and couldnt find one so if one exist please point me to it. This thread is to outline IMO all the confluences that I see (which can be confusing) and what different styles see in these areas and express why I would trade here and where my target would be, risk to reward etc. And then it is my hopes others can add to what idk which in the end I can evolve to a higher level than where Im at now, you say "do it a Journal" so here is mine

The first reference for the day was we opened right at 8/24's VAL which lined up with VWAP this AM. The other reference was 8/24's low. Those were the two most profitable opportunities on the day. You had a good entry from the 1st standard deviation level this afternoon. This was also the DVAL for the day and the IB low. I took your chart and marked areas that are good entries aside from the initial short entry at the open. The goal is to trade at the extremes of the day. I circled in yellow the entries with the cyan circles being good exits. Note how price reacted to the flattened VWAP levels. Excellent rotational trade opportunities.


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  #6 (permalink)
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Private Banker View Post
The first reference for the day was we opened right at 8/24's VAL which lined up with VWAP this AM. The other reference was 8/24's low. Those were the two most profitable opportunities on the day. You had a good entry from the 1st standard deviation level this afternoon. This was also the DVAL for the day and the IB low. I took your chart and marked areas that are good entries aside from the initial short entry at the open. The goal is to trade at the extremes of the day. I circled in yellow the entries with the cyan circles being good exits. Note how price reacted to the flattened VWAP levels. Excellent rotational trade opportunities.


thank you for taking the time PB, you rock.

yes this is what i was searching for by having this thread, to help me see thru other more experience eyes. I wasnt at pc long today around when i did trades, like I missed pullback after my trade bc i was away.

I will review more tom from your notes

When you can please glance it from from time to time as your opinion is always greatly appreciated

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Rad4633 View Post
thank you for taking the time PB, you rock.

yes this is what i was searching for by having this thread, to help me see thru other more experience eyes. I wasnt at pc long today around when i did trades, like I missed pullback after my trade bc i was away.

I will review more tom from your notes

When you can please glance it from from time to time as your opinion is always greatly appreciated

You're welcome! The idea is to not have static targets in a rotational market such as ES. Put them at potential levels of support or resistance in the event the market turns against you. Also, it may be wise to put your target a tick in front of the actual level in the event only a small number of orders get filled at the referenced level. I'll be sure to check back from time to time.

Cheers,
PB

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Rad4633 View Post
Thank you for your reply, I lack in my wording in post at times plus I like to ask things so I might get responses from others this helps me understand a different angle than one I might have seen.

Just in me replyin to you, i have to say thx bc it makes one go over their trade when questioned. I never trade off another sorry @Jedi bro just cant do it,lmao.. Ok this is my first thread so I want everyone to show love and help me out, slam me beat me up this is what Im looking for bc I need it> and were not even going to talk about how much i paid the markets to get to this point. So Im calling all my futures.io (formerly BMT) mentors help me, wasnt planning on doing this but how will ya know I started this unless I do this @ThatManFromTexas @Silvester17 @cory @wldman @vvhg @Privatebanker @Silver Dragon @Gabriyele , one and only @tigertrader @creekboy @Big Mike @Fat Tails @Tiberius @kbit more to come PB beat me to this post he s already posted

My goal is to learn more about getting perfect (better)entries and why the majority hold on to certain targets and learn to trade to them I know the targets just some times I exit early. And last to get better RvsR trade setups so this means what i showed in today chart, being close on my stop to my entries which I am not used to, Is this how close you are to your entries?

@itrade2win curious about your IB indi I noticed you had it on a 750tick chart but I would suppose you still let it calculate off first hour, thats what im doing now in testing, thoughts?

thanks again for your reply

I would strongly suggest to stop looking at what others are doing in the chat box. I pay very little attention to what is being said in there. Its more entertaining than anything else. You need to develop your own method of trading. That is the only way to make it. I'm not saying don't take ideas from others methods, but don't try to emulate what they do or enter because they entered a trade.

Yes, my IB is set for the RTH hours, but keep in mind that I use it and any indicator as a filter only. not as a reason to enter a trade because price bounced off of the VWAP or whatever. Market context and PA are the primary reasons to enter a trade and indicators secondly. If its the other way around I can't see it being profitable that way.

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itrade2win View Post
I would strongly suggest to stop looking at what others are doing in the chat box. I pay very little attention to what is being said in there. Its more entertaining than anything else. You need to develop your own method of trading. That is the only way to make it. I'm not saying don't take ideas from others methods, but don't try to emulate what they do or enter because they entered a trade.

Yes, my IB is set for the RTH hours, but keep in mind that I use it and any indicator as a filter only. not as a reason to enter a trade because price bounced off of the VWAP or whatever. Market context and PA are the primary reasons to enter a trade and indicators secondly. If its the other way around I can't see it being profitable that way.

The Chatbox is my breakroom from trading, I believe we all need a break from time to time IMO.

If im going to do this thread Ive got to learn to convey my thoughts better. My style of trading will become more clear the more I post

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Busy today with other things so Im in and out

Did trade last nite went to bed got stopped out, came back traded to target-reason for stop out Vwap flatten and price pulled back to it also my entry was late on first trade but when I got up came back to pc to check on it I re entered long, reason for poor entry was bc of indi I was playing with since deleted it off, back to my PA entries at key levels

Reason for trade knew price wanted 20sma on 12hybrid, also on 8 hybrid pattern forming W, target was also at Rmid

R2R-this had good risk to reward what i am striving for but stop out could have been avoided by correct entry, note I wasnt sitting at pc so when I came back and saw it jumped in, . Perfect entries are best then if it goes against you at least loss is small or small profit

my fibs are my targets if I had wanted to trade to the levels ES went to

Good luck guys Im outta here prob not back till next week

All thoughts greatly appreciated

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  #11 (permalink)
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Came in to check on market, saw this trade as soon as opened pc up

My r2r was good original target was 1410.50 but I exited at 08.50 bc I m leaving as soon as I finish this

reason for trade making HL's small time frame and my earlier targets still in play, news must been involved in push down idk will look later tonight

TGIF

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Private Banker View Post
The first reference for the day was we opened right at 8/24's VAL which lined up with VWAP this AM. The other reference was 8/24's low. Those were the two most profitable opportunities on the day. You had a good entry from the 1st standard deviation level this afternoon. This was also the DVAL for the day and the IB low. I took your chart and marked areas that are good entries aside from the initial short entry at the open. The goal is to trade at the extremes of the day. I circled in yellow the entries with the cyan circles being good exits. Note how price reacted to the flattened VWAP levels. Excellent rotational trade opportunities.


PB I have reviewed your recommendations and have a few questions about your setup and the way you would look at the upcoming trade still using our example,

1) I have drew a red arrow to the VAL on the 24th and I see low on the 24th and understand the trade to that level as target, if you have time can you post a chart showing your vwap bc mine isnt there(also do you use rth data only on your charts for calculating this?)

2) trading VA, when market is in Value(vwap would be flattening at this time too,correct? then trade to each side until it comes out, I used to follow shadowtrader TOS and the way he traded it. His rule was once in value 85% chance going to other side, so is this how you recommend until PA comes out of that range?

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Rad4633 View Post

If im going to do this thread Ive got to learn to convey my thoughts better. My style of trading will become more clear the more I post

Absolutely
--but there's a long road ahead of you so don't be discourage
good luck
D

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phl pa. usa
 
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rad - here is how i saw fridays market -

note A&D - bounced off the zero line at the same time the ES HIT its ALGO move base -also note the range had doubled - i tried to show what i am looking for -

there is 1 thing i always no for sure - a

"you can pay in many ways as a trader but the greatest pay comes when you pay attention"






:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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Rad4633 View Post
PB I have reviewed your recommendations and have a few questions about your setup and the way you would look at the upcoming trade still using our example,

1) I have drew a red arrow to the VAL on the 24th and I see low on the 24th and understand the trade to that level as target, if you have time can you post a chart showing your vwap bc mine isnt there(also do you use rth data only on your charts for calculating this?)

2) trading VA, when market is in Value(vwap would be flattening at this time too,correct? then trade to each side until it comes out, I used to follow shadowtrader TOS and the way he traded it. His rule was once in value 85% chance going to other side, so is this how you recommend until PA comes out of that range?

Not sure what session template you have there but I do prefer to look at the RTH value and poc levels. As I mentioned the other day, the market opened right at the VAL from 8/24 and sold off from there. Market tested it again during the last hour of trading and was still a point of resistance. The day was really just an auction out of range where price rotated/balanced within the lower distribution of 8/24. Note that the value and poc levels I have here are with a 3 tick rounding/smoothing and are set to overlay on a 1 tick TPO which is why you may see those levels not aligning perfectly with the TPO levels. It also appears that you are looking at volume value and poc levels which will sometimes be different than TPO value and poc levels.

With regards to price trading within value, that is a long explanation but generally, in a trending market, price will be out of value/leading value signifying an imbalanced market. A trending day with VWAP will show price remaining on one side of VWAP and either respect VWAP or the first standard deviation level. When price is rotating in and out of value it's simply a rotational market. VWAP should be relatively flat on rotational days.

As for the 80% rule, it also should apply to the VWAP standard deviation bands and IB levels.

Hope that helps and makes sense.

Cheers,
PB

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3 trades this am
1) 1tick loss
2)3tick loss
3) I knew where it was going then 4.75 profit

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Things that I ll list in my journal, My exact entries, Ninja has a option to show this, no bs here, Because if Im wrong you'll see it and also I can take constructive critism for a bad move and why i shouldnt have taken it, becuase IMO if no one knows only you lose $$$, but if everyone sees its your reputation which I regard extremely high.

I'll try to list why I take trades, I'm not much of a typer that's why its taken me this long to start a journal, but I am eager to learn more from others and define my mistakes in public which will better me down the road.

I'll also list the emotionally side of it, especially on bad trades and what affected me, just like today my first two trades I shouldnt have been in the market dealing with life issues so my mind wasnt focused enough. my issues were more important than the money on the line, next time I wont trade at this time

For now thats all folks
R

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  #18 (permalink)
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Sorry when I started this I was playing around and not taking thread, serious, so some or most lol, might have gauged me the wrong way, sorry for the confusion

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This trade here is the reason only trading a certain part of the day makes one reconsider trading all day. Text book perfect wasnt it for a system like @creekboy. But on a different note it was nice to have taken the day off after early am trades to have lunch with a old friend

Im trying to find the balance between trading and outside life

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  #20 (permalink)
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With this setup I can pretty much sit down and trade at anytime, was out this am came in did 2 quick scalps.

ok Im done for now might come back trade little more afternoon

1)trade 1pt profit
2)trade 2ticks profit

Traded heavier bc of scalping R2R on first trade was 1 to 1, 2nd was 2ticks to 3 ticks

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  #21 (permalink)
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volatility coming back in will step up time frames to account for noise as needed

trades today
1) +1.75
2) -2.50
3)-1.75
4)+2
5)+.50
6)+4.25

note: I do add more contracts if one directional move fails so it doesn't take as much to make up loss, also trades 2/3 price moved so fast on small time frame noise got me before I could adjust, hindsight you cant see speed

early am targets where 1416,1418, and 1424.75 these are if market has enough movement to get to these points, on retrace I use prior levels for support

Vwap, pivots etc are just here for reference, price action rules!!!!!!!!!! imo

done again for day since I set daily target rest of day is stress free, might come back and take a trade depends

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  #22 (permalink)
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@tigertrader is this a trend? Ok I know what your going say why didnt I trade it, ummmmm no good answer............. I gotta apply some tiger wisdom to improve huh....nothing beats experience

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  #23 (permalink)
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Rad4633 View Post
@tigertrader is this a trend? Ok I know what your going say why didnt I trade it, ummmmm no good answer............. I gotta apply some tiger wisdom to improve huh....nothing beats experience


$TICK has been positive entire RTH session - never has traded negative on the day


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tigertrader View Post
$TICK has been positive entire RTH session - never has traded negative on the day


thank you sir, adding $ticky back in now

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  #25 (permalink)
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Open up pc at 10:58 saw entry did 2 trades while taking care of other stuff, I knew market would be consolidating today so not to interested in playing ping-pong

trades
1) .50pts
2)1 pt

done for day 10:58-12:30 not to bad for the time invested

Goal for next week be active in markets more, still trying for good R2R (risk to reward) throwing around idea of trading for 6 pts a day min

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phl pa. usa
 
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good deal - slow and steady will win the race -that 6 points will come -great job and stay focused






Rad4633 View Post
Open up pc at 10:58 saw entry did 2 trades while taking care of other stuff, I knew market would be consolidating today so not to interested in playing ping-pong

trades
1) .50pts
2)1 pt

done for day 10:58-12:30 not to bad for the time invested

Goal for next week be active in markets more, still trying for good R2R (risk to reward) throwing around idea of trading for 6 pts a day min


:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #27 (permalink)
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I try not to predict just trade what I see, but lets see how this trade would turn out, been watching it since 38 range @ open target 31.50 overnight

reason for not taking trade usually dont trade Sundays open unless Gap

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  #28 (permalink)
Australia, NSW
 
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Just wondering if anyone has tried trading the ES on a range chart ?

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  #29 (permalink)
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cowjuice View Post
Just wondering if anyone has tried trading the ES on a range chart ?

Doesnt matter which bar type you use, areas of support/res is the same. You can look in downloads here on futures.io (formerly BMT) for BetterRenko bars they are similar to the Rjays Renko Hybrid that I am using, but I also use Tick,Min and Vol bars. I switch around to keep from getting bored

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  #30 (permalink)
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Not sitting behind desk much. I'll probably bounce in and out during day for a little while longer. Today I came in for lunch took first trade thinking market was going up make new highs, took loss, Then flipped left again. Im doing my end of day reviewing today moves

1)trade -1
2)trade +2

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  #31 (permalink)
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Rad4633 View Post
Not sure if journal is helping me,so ?????

If you want my feedback...

Your journal reads more like a spreadsheet consisting of net profit. You should instead focus more on why you entered where you did, why you exited where you did, how you felt during the trade. These are the things that will help you learn.

I also highly encourage you to review the last two weeks of journal entries at the end of every week. The idea is to measure yourself and look to make sure you are not going in circles, but instead are making forward progress.

I suggest leaving all the statistics and such to a week-end summary, or just in your platform, etc, but to use the journal instead to talk about the "why". This will let you see patterns, your strengths, and weaknesses, and improve them. A screenshot is needed for this to provide the context of what you were seeing at the time.

Mike

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  #32 (permalink)
phl pa. usa
 
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how was you week overall ?

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #33 (permalink)
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creekboy View Post
how was you week overall ?

Thanks for asking....Week was good. I m trying to decide what to do with journal, how it might help me etc. I'll keep you posted. Tell F16 I said hello

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  #34 (permalink)
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Big Mike View Post
If you want my feedback...

Your journal reads more like a spreadsheet consisting of net profit. You should instead focus more on why you entered where you did, why you exited where you did, how you felt during the trade. These are the things that will help you learn.

I also highly encourage you to review the last two weeks of journal entries at the end of every week. The idea is to measure yourself and look to make sure you are not going in circles, but instead are making forward progress.

I suggest leaving all the statistics and such to a week-end summary, or just in your platform, etc, but to use the journal instead to talk about the "why". This will let you see patterns, your strengths, and weaknesses, and improve them. A screenshot is needed for this to provide the context of what you were seeing at the time.

Mike

Hi Mike,

I appreciate your response to my thread. I have not responded till now bc I am unsure what my journal needs to have in it for me.

As far as why I take a trade, where its going etc, how I felt and so on. My chart is very clear, so this scalping setup is very easy for me to read in hindsight. I have evolved past being emotional yes I do take profits sooner as of late ie. trade posted I always have a final target and I trade in that direction but I trade to a safer target in recent times. Reason being Im no longer sitting here hrs on hrs my own choice(I still trade fulltime). I will eventually will come back to trading all day or night lol sometime soon but for now Life is Good(catching back up on time I lost learning about trading).

I agree with 2nd and 3rd paragraphs of your reply, but honestly I dont want to have to photo shop out my size etc everytime when posting a live trade in a trade in progress chart.

For me the journal was a way for me to have a visual record of my trades and interact with others. With this setup its sorta cut and dry so no one can really respond now I guess, If I do it like tiger's Spoo thread I could explain why its going to a certain target etc...so hummm next move?

Thoughts?and thx again for reply

1)trade +1.5 pts
remembered roll over update Ninja charts later today, wish this was automatic with Ninja

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  #35 (permalink)
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Why are you worried about posting size?

If you are trading micro's or 1-lot, you are being smart, and no one is going to make fun of you.

If you are trading big size, then yes people might question that (as would I) since you shouldn't be trading size until you are a consistently profitable trader. If you are afraid to show this, then it is because you can't come to grips with knowing you are trading bigger than you should be.

I've heard all the excuses before on not maintaining a journal or shots showing entries/exits, etc. Look, in the end, it is my opinion that struggling traders that are unwilling to do this are simply unwilling to do the work necessary to improve themselves. Trading is not for everyone, although few people would admit it to themselves - but their actions tell the full story.

So I encourage you to post everything and bear all, it is the best way to learn. You are anonymous on the forum and it's a friendly place, nothing to be afraid of...

Mike

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  #36 (permalink)
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Big Mike View Post
Why are you worried about posting size?

If you are trading micro's or 1-lot, you are being smart, and no one is going to make fun of you.

If you are trading big size, then yes people might question that (as would I) since you shouldn't be trading size until you are a consistently profitable trader. If you are afraid to show this, then it is because you can't come to grips with knowing you are trading bigger than you should be.

I've heard all the excuses before on not maintaining a journal or shots showing entries/exits, etc. Look, in the end, it is my opinion that struggling traders that are unwilling to do this are simply unwilling to do the work necessary to improve themselves. Trading is not for everyone, although few people would admit it to themselves - but their actions tell the full story.

So I encourage you to post everything and bear all, it is the best way to learn. You are anonymous on the forum and it's a friendly place, nothing to be afraid of...

Mike

Mike,

Before I start I need to say I have liked you from your responses in futures.io (formerly BMT) and the way you run your site...I needed to convey this because sometimes in a friendly discussion one side might take text in the wrong way. Its friendly from my side Im just going to express my views on the way I see things. Also in doing this it would help one to understand where another one is at meaning what level etc. Bc in kidding around when i started this journal the replies I got where not what I wanted so I revised and started over

No one is going to make fun of you- I used to trade IM with a few guys my age and older who worked at well know locations, each has 15years or more experience full time, all different styles one let price run to areas of confluences then trade on pullback/retrace for 2 pts or more,another would trade from a pt for hopefully 6 pts, so I have been beat on why did I take the trade etc and why, etc etc, so Im at a point as most get to I have np showing you why and taking criticism.

Showing size- Ur right way back when I started(yrs back) I was not trading correct contract size per account size. I was trading 20-30 ES contracts , liked TF and did farely well with but ES is where Im at bc of where I wanta be with my size at a later date. I see very few showing size and if memory serves me right Ive never seen you show it either But I have seen you reply to your dream retirement locations and homes in that region. So from this one could speculate size. I hope I made a point here

Traders unwilling to work

this was one of my first responses of the few Ive made on futures.io (formerly BMT), in your reply to me from ones actions, what do you mean? Maybe this is something Im not conveying bc of my personality in this journal or even when I ask a question of members or even you a few times. Maybe I just ask a question and see how people respond you can then read it from there, I might not know much but I do manage. I have been lucky to have met some great people and excellent traders here on futures.io (formerly BMT) who I cant thank enough. If you look at my thanks given and received it says alot. Just bc Im not one of the outspoken and detailed in my methodological doesnt mean I dont understand it> Now since I m getting started with my peck and find fingers I throw IMO how I see things. Just bc one says they can trade and can explain all the reasons behind ones trade doesnt mean their a successful trader. The only way to know who is who is have a record board, size is irrelevant, style is irrelevant all that matters is profit loss. I have had alot of charts which all do, I still want to improve my charts which all do. We know why, when one has losses their setup needs tweaking and so on, anyone that tweaks is ok as long as they still trade well.I used to trade off bollingers loved the damn things but any indicator is a past shot of price, I m not saying anything new just feeling the need to clear the air sort of speaking. I trade with Price and areas to do business first(targets i call them) areas of confluences that line up, the more that line up duh stronger area is. I understand market rotation etc meaning I have other charts i use and haven't shown in my journal. But point is confluences that the majority trade to is where I want to be, duh nothing new again. My confluences areas are generated from pivots,vwap,custom pivots I use of my own research,vah,val,prior support/res, fibs,and TL. I used to make this stuff way more complicated than it is. MP and others line up with my confluences as well, I ve read ur comment before its amazing how many line up together.Hopefully this clears up where my targets are, and to trade to my target I use a chart that shows me market direction.

Now on to the good stuff,I am wrong on trades it happens there is no crystal ball to deterime where its going I sorta agree to disagree on the 50% rule, anytime I take a trade I say is it 50% or better then trade size accordingly .I 'll tell you what i would like to see a poll on is what percent of winning trades a trader has and what there R2R is. Ie. 1R to 4R with a 85% winning ration now this guy I'd watch. I dont think alot people actually get this, well ones that have traded for long long time do

In closing I will never show size unless you do if we all did this then futures.io (formerly BMT) would have a competition on, bc IMO we all go into trading after having success in other arenas of business.So we re all competitive by nature this is the reason I feel having losing trades kills alot of people spirits and they start the non ending quest of the perfect chart.

Blah blah blah I have spent more time replying to you Mike than this whole journal to date. @ThatManFromTexas has had trophy wives he said Well I missing my trophy Gf's responding to u This is the part Ive been loving recently extra time for my daughter and recreation. I came up with this little tweaked setup on a return flight from Vegas 2 mths ago I wanted something like @creekboy had, he said he had a system you could sit down and enter whenever he wanted. So I use a small time frame in out enjoy life, I know you seen the spreadsheet trade for 2 pts a day

Hope this sheds a little more light, as always advice is always appreciated.
Rad

Mike I still dont get the whole journal deal noting why for myself a trade went the way it did ie. if i go to use the bathroom in the middle of the night and stump my toe I remember where this happened at and I dont do it again. Do most traders stump their toe over and over the same problem

Hope the dogs are well esp the new one,ttys

Also a newer trader please note what others have said here on futures.io (formerly BMT) and what I said about losses have them move on, and never ending quest for the perfect chart. Dont waste your time as I did but find one that you like and tweak it, manage R2R and trade to trade well not for the money

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  #37 (permalink)
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Today when I opened up my pc I had to add in 12-12 contract as soon as it switched the time was 8:40est and by 8:41 a smart money buying program had kicked in-noted in blue circle, never buy at the top but I knew a chain of events would follow which I had targets to, so I traded accordingly to how I saw the buyers/sellers coming in. Also note its easy to look hindsight @ a chart and say oh i see why a person did that, but this hasnt happened live yet so a call was made to change direction ahead of chart forming because of market sentiment.anyhow rectangle box was big target and 40 was first lower I just traded as I saw it.

NOTE-THERE IS ALOT OF INFO IM NOT EXPLAINING BC IVE GOT TO RUN

was done for day at 10:17 start of day 8:40 plus +5pts Im off personal issue at school to deal with

Happy Trading Everyone

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  #38 (permalink)
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2 Pts a day is my main goal as of lately and one can build their account but as my thread states you must manage Risk to Reward etc It takes understanding the market conditions and its rotation to achieve consistent profits, draw downs always must be considered. Please research and understand Risk to reward 1R to 1R/1Rto2R/1R to 3R/ and last what Im going for 1Rto4R-no Im not there yet but working on it soon when Market gets some volatility), always trade contract size per account capitol (this is key... this isnt a video game if you trade heavy and die,your DEAD!) and always achieve a higher trade % of winners. Until one can do these things successfully, you will FAIL. Sorry to be blunt.

When I went into trading as with any small business you have upfront capitol invested and as the business matures it starts it payback, so for me I paid the upfront cost to start my business. Looking back I recommend sim or demo mode and then work yourself into real money and learn to control the emotionally side of this game and if your lucky you'll only blow 1 account

Best Wishes Moving forward

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  #39 (permalink)
phl pa. usa
 
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Great Job - keep it coming

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #40 (permalink)
Legendary Market Wizard
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2 Pts a day

It is not this simple. To think you can put on a 1 lot in week 1, and perform the same in week 9 trading a 20 lot is utterly ridiculous and what you showed no doubt came from some vendor site trying to sell you something and convince you of how easy it is. Mathematically it's that simple, but discretionary trading is not so much about mathematics as it is your own head. It's the dream we all have: turn $5K on Jan 1 into $42K by March 30. If you believe it is this easy, then you have very little understanding of proper risk control, and I encourage you to focus on how not to lose rather than how much you can make, at this point.

After reading this, I would like to rephrase the last sentence: with proper risk control, it is impossible to increase your account by 800% in 13 weeks. In other words, you will be risking way too much in order to shoot for that level of profit. You will blow up if you try, and it is not a question of if, but how soon. In week 9, trading a 20 lot with a 1 handle stop risks almost 5% of your account in one trade. You are betting 3-5% of your total account every time you trade that the market will go 8 ticks in your favor before it goes against you 3. What do you think the odds are there?

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  #41 (permalink)
phl pa. usa
 
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the greatest risk each one of needs to control is fear -once you step past the fear ,all the rest is easy -let him test his plan - he may teach all of us something ,go for it Rad

:when you cheat -you only cheat yourself
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It is not this simple. To think you can put on a 1 lot in week 1, and perform the same in week 9 trading a 20 lot is utterly ridiculous and what you showed no doubt came from some vendor site trying to sell you something and convince you of how easy it is. Mathematically it's that simple, but discretionary trading is not so much about mathematics as it is your own head. It's the dream we all have: turn $5K on Jan 1 into $42K by March 30. If you believe it is this easy, then you have very little understanding of proper risk control, and I encourage you to focus on how not to lose rather than how much you can make, at this point.

After reading this, I would like to rephrase the last sentence: with proper risk control, it is impossible to increase your account by 800% in 13 weeks. In other words, you will be risking way too much in order to shoot for that level of profit. You will blow up if you try, and it is not a question of if, but how soon. In week 9, trading a 20 lot with a 1 handle stop risks almost 5% of your account in one trade. You are betting 3-5% of your total account every time you trade that the market will go 8 ticks in your favor before it goes against you 3. What do you think the odds are there?

Thx Josh for your reply,

In your first paragraph, I agree but my point is you dont have to sit trade all day make 2 pts quit, Be done Im having lunch replying back to you now, loving the time I have. Up until recently, i traded like I was addict and alot of traders are this way I found balance , Im not greedy you know how you trade if you think that way. I do trade to trade well, manage my risk, i look for areas that the market might pullback,retrace analyze my risk if I do decide to trade to those areas but I just cover in a safe zone I call it now. Heck what is wrong with being safe than sorry. I love the Mark Fisher video about walking into a bar to pick up women you only have $30 in your pocket, dont blow it all on the first one, if she bites you got pd, if not cut it short, have $ to move on for the big score....... Well put IMO

I have only bought 2 indicators every,Harry bars and Rjays bars and I like Timetrade but he has disappeared and his has a glitch, I saw where @monpere and others are wrking on this. I dont know where I grabbed the 2 pts a day from, wasnt a vendor I never go to any of those sites. I have never paid to be in a chatroom, I have never been to trading conferences only every read one book on trading geez everyone already knows that stuff anyways

What i have come to realize with trading you have to develop a body English for it, with any psychical sport ones muscle memory takes over no thought involved, a person just reacts. Human emotion is what I paid the market to teach me many many times > I use this analogy anyone can go to a shooting range and hit a target 85% of the time but first time in a one on one with another gun in your face you better react correctly.

Help me out Josh, Ive read alot of your comments, yes i do say thanks but help me when i post something like the 2pts, I dont want to have to respond to most of futures.io (formerly BMT) on what I thought was a given among exp traders , we know this isnt possible. ie 2 pts a day making you rich drawdown not figured etc etc. A new trader might believe this, but I guess I look that way huh. Suggestions.................. My whole point with 2 pts a day, if you trade well life can be very very good. FYI I used to trade for more take more losses used bigger time frames etc etc but I found Balance... depending on the market when it catches some wind and we get some more volatility back I m ready to ride !!!! Remember Japan nuclear issue and others US downgraded this one hurt me badly... But traders have to learn move on evolve and honestly I dont know where its going. IMO only .5 or traders are doing it 1% do ok 3.5 make a living and 95% lose

ttys R

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Rad, didn't mean to imply you were buying a product, and I really did not intend to address you directly though I see I actually did write it that way. It's just that many people will see that chart and think that it's as easy as adding more contracts, and it's not. That chart only says how much you can make, not how much you can lose, which should be of far greater concern for traders. I would hate for a new trader to see that and think "oh boy, this should be easy, just add size!"

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  #44 (permalink)
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josh View Post
Rad, didn't mean to imply you were buying a product, and I really did not intend to address you directly though I see I actually did write it that way. It's just that many people will see that chart and think that it's as easy as adding more contracts, and it's not. That chart only says how much you can make, not how much you can lose, which should be of far greater concern for traders. I would hate for a new trader to see that and think "oh boy, this should be easy, just add size!"

Ok I see your point Ty I will revise that thread

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  #45 (permalink)
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recap on trades, I had just added in 12-12 rollover at 8:41est and saw buying program kick in from 8:40am to 8:41am but my vwap bands hadnt had time to form bc of recent rollover. but i knew with alot of news coming out one of two things, ES was going somewhere today and I wanted to be on the side of smart money, buying in at the top is very risky bc one has to be aware of retrace if smart money going long or if smart money covering then the short side. I knew from the feel ES was going to retrace I have 2 levels that retrace goes to and continues its move when we passed 1 level, one more and I was ready to ride down to a safe 40, below 40 was 30.50 range, even called this in chatbox but when we came to my next level i knew it was reversing going long, so i flipped and rode up but now the next area is one of those tricky 50-50.Then Es climbed where I knew res would be around 48 I was green for day, closed trade. My original top target was 52.50ish all these big targets I knew were good, but can be complicated till it defines itself, also small charts one has to read noise and filter, one has to read market sentiment and have a feel for it(some days we just dont, on days where Im sick Im no longer trading with a sinus infection etc because if you slip any and read wrong, u lose.

Traded from 8:40 to 10:17

Emotions-need assistance on how to convey so I dont sound lk a @ss, bc honestly I had none I trade what I see if it goes wrong have a stop and react accordingly to the market ps this is what my gf said to say bc she thought my original comment I was sounding lk a arrogant @ss she just read my journal for first time. But really Im past all the emotions....just do it like Nike Lost 10k recently in 1 day, didnt like it but really didnt get upset. I could tell a story of my worst trade every, that same night went out and partied like no tom, its going happen, that trade was a accidental weekend trade(this is one of my toe stumps I ll never forget) Hey Big Mike maybe this is why you told me to list emotions bc if one isnt trading live then they wouldnt remember bc it wasnt real money so they need to list to remember????am I correct?...Life moves either up or down and I want UP b happy enjoy life, learning to trade was like a bad marriage for me I couldnt wait for the sunny days

About smart money we all see it but knowing where its going to stop on initial thrust one has to learn the feel, then you have to trade accordingly, and IMO there are different size smart money buying programs meaning sometimes one kicks in to take the market one direction then u see the fight and whichever is strongest wins. And dont even get me started about PPT and my thoughts here

@Big Mike H-Bday this is for you

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  #46 (permalink)
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I also have another chart setup that goes along with the one Ive been posting, main chart has a 1r to 4r ATM 5pts stop 20pt target. This was my main setup until market slowed down few mths back so i switched to this one. I use volume or tick bars with it, along with my other charts that i kept to show bigger areas of confluences. Reason I m sharing this is bc I dont want someone to think I trade all the time for 2 ticks, 1 pt etc.

I have gave it some thought last night about this journal, what I wanted for this journal was a record keeper for me but others could see exact entries exits not arrows or someone saying I did this or that. You could see it no faking Ninja markers. But I was wrong I suppose, so what went from in my head as being a easy tracking journal for me, along with me interacting with others. To this, Im at a point where I m not changing my setups maybe tweak them, I m not wanting or needing to learn about different styles of trading. Ive got my knowledge but am open to new ideas and concepts but trading is easy.up/down/sideways

Manage these key things
Risk to Reward
size per capital
learn a way for you to see confluences and trade to them
cut losers short, letting winners run is very hard human emotion and the fear of not knowing makes one close early
Trade with no emotion,just react

Control these things and your road will become alot smoother

on Bmt alot is hush hush, size, who is really doing it etc etc...Well in closing my goal is to trade very heavy and its up to me,,,, NO ONE except you will every get you there.

Best Wishes to everyone moving forward
I am unsure if I will come back to this journal

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1)trade today used big chart but should have stayed with little one and surfed

+2.5 pts reason for close leaving now, and no tellings what will happen at the end of today, on this day you never know really what to expect, best to only trade am

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51.75 target from early am big chart, but today I wasnt going to leave live trade running without me here, too unpredictable

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target hit 51.75 @ 4:06

Lod was at 50.50 @4:12

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New traders- who are wanting to figure out their style of trading, you will be watching videos, youtube stuff, seminars on futures.io (formerly BMT) etc invest in apple tv. trust me best $99 you'll spend being able to kick back and watch on your big screen rather than your pc.

@Private Banker you mentioned this a while back I got one tied into my Crestron system, Life is Good thx PB

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well done -looks like your back in the saddle -

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #52 (permalink)
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Rad4633 View Post
target hit 51.75 @ 4:06

Lod was at 50.50 @4:12

Great trade! Just some thoughts for you to consider on your trading.

It appears you went short first thing this morning off the 2nd standard deviation level. That's the right idea but I would warn on jumping in right away. You don't want to be a part of the 100% price discovery or simply put, you don't want to attempt to pick tops and bottoms. Even though the market moved well into a potential resistance move higher, I didn't see there being any potential resistance until roughly the 1463 area which was the value high from 9/14.

I've again, circled areas that would have been excellent entry and exit and/or scale out areas. You absolutely had the right idea for responsive selling as did I but you want to make sure the market is exhausted before getting in typically unless there's a clear level of resistance/support.

So, first entry was from the 1st standard deviation level (circled in orange) which should get to the corresponding lower 1st standard deviation level. Then VWAP was the next as value shifted lower and lastly, the lower 1st standard deviation as value shifted even lower. Note, when you see the market held at a 1st standard deviation level like that, it is potentially signaling a good trending situation and the idea would be is to hold on until you hit a big picture target and use the 1st standard deviation level as your trail stop point of reference. If price were to break above the 1st standard deviation level before your target, its possible that the market has either bottomed or topped out relative to the direction of the move.




Here's the overnight session and RTH session TPOs. Note the spike in the overnight session just before the RTH open. This is also known as a selling tail and can often signal a reversal into the RTH session.




Here's just the RTH session TPOs. You can see yesterday was an open out of balance with responsive buying. Today was another open out of balance to the upside which was the obvious destination for the market to test after yesterday's failure to find initiative sellers to take the market lower. Today had responsive sellers at the open which pushed the market back into balance and stopped right at yesterday's POC. Perfect afternoon spike.




Anyway, great job!

Cheers,
PB

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Thanks @Private Banker

I havent been posting many of my charts this would have helped one see things clearer, so now I see how it looked to the majority only posting 2hybrid. I was looking at my main larger time frame chart I use when I go for points it has a 1risk to 4 reward target. But with a bigger time frame you cant dial it in as close, yes I could use the small one but I didnt. So the trade was taken because of the move that started on 9/20 @34.50 I knew we were over extended from my larger time frame as there was tell tell I see right before top occurs after a move of this amount, So i entered off of that, the 2 hybrid Vwap is used for Val/Vah and vwap but it has to coincide with other confluences i use, the white line I drew in before price every got to it, if price didnt start its retrace here I was wrong but we were at a point a retracement was inevitable IMO, with no volitity like we ve been having. My target for retracement had two levels which it will always retrace to if first isnt broken strong trend in the same direction will continue, but if 1 st level is broken retrace to my second target will always happen which was at 51.50. Also I had confluence at this level too off of a custom pivot I came up with. So 51.50 was solid target, but my 1st level was at the area I closed, today I wasnt going to take a chance and leave a live trade while I left to go get my daughter from school, bc at this level price could have went back up. And today being options I played it safe bc it was 50%-50% to me in this area. Off my big chart this trade had a 1R to 3 R so i was ready to get paid and after I left I always track with a mobile to see where it is going before I left my drive I knew it was golden. I will review your info over the weekend. My confluences levels that I use I can predict the market fairly well.

You stated in a prior comment to not have set targets but have static I do have these as well that I use to predict market rotation with the ES. I am definitely going to review your charts bc I dont use TPO and in my prior testing they do line up with my confluences too. I ll send you a pm soon. Many Many thx for your reply and the way you replied to me too. Thanks Again R

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Thanks for posting. Good info.

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Thanks for posting. Good info.

Please use the Thanks button.

Mike

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Rad4633 View Post
You stated in a prior comment to not have set targets but have static I do have these as well that I use to predict market rotation with the ES.

Let me clarify this for you. For scaling out of a position, I generally keep them relatively static but they tend to end up on or near key levels. So for example, if I were to get short and want to scale out in 1/3 increments, I would have my first scale at a point or so (ES) as long as its in front of a key level. If there's nothing close to my first scale area and the day's volatility (vol) is wide (wide spread VWAP bands + Value Area), I would increase my scale out targets to be in line with the day's range and risk parameters. I know a static scale works just as well but I tend to deviate from that to capture a higher percentage of the given range. The thought is to match what the vol is while still having attainable targets. Your stop should also be larger on these types of days based on the increased vol. Same goes for narrow vol days. Smaller stops mirrored with smaller scale out targets. Just use the VWAP standard deviation levels and value/poc as a gauge. Make sense?

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Private Banker View Post
Let me clarify this for you. For scaling out of a position, I generally keep them relatively static but they tend to end up on or near key levels. So for example, if I were to get short and want to scale out in 1/3 increments, I would have my first scale at a point or so (ES) as long as its in front of a key level. If there's nothing close to my first scale area and the day's volatility (vol) is wide (wide spread VWAP bands + Value Area), I would increase my scale out targets to be in line with the day's range and risk parameters. I know a static scale works just as well but I tend to deviate from that to capture a higher percentage of the given range. The thought is to match what the vol is while still having attainable targets. Your stop should also be larger on these types of days based on the increased vol. Same goes for narrow vol days. Smaller stops mirrored with smaller scale out targets. Just use the VWAP standard deviation levels and value/poc as a gauge. Make sense?

Perfect sense...ty PB enjoy your weekend whichever location ur at I m planning a trip to our mountains soon(Blue Ridge-leaf color changing week) amazing how beautiful mother natures are...Sunsets your way are so soothing.anyhow I better watch or I'll turn this into a nature thread.ty again

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Anyone wanting a slick indicator to help show risk to reward you should try this one thx @monpere its very handy

click on link below for download-its only for Ninja
TradeRuler
Search - Big Mike's Trading Forum

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This comment was made by @tigertrader to another journal I hope its ok to post in mine

THE WORDS OF WISDOM by the one and only Big G Ty

If I'm long and I think the market is going higher, I am looking to add to my position. If I'm short and I think the market is going lower, I am looking to add to my position. Its pretty automatic for me and really doesn't require much conscious thought. The reason that it has become so instinctual is that I know my game. I have a pretty good understanding of current price action and how it relates to the overall context of the market and this allows me to have a gauge on the duration and distance of the trade. Scaling out of a profitable trade, obviously provides the trader with more flexibility and expands his choices. Do I look to add on every trade I make? Of course not. I look to add when conditions have become favorable to support pressing and adding. Nevertheless, it does not mean that it will work. The difference between unsuccessful traders, net-profitable traders, and big money making traders is smaller than you think. It usually boils down to a small but perceptible edge, and while it can be related to poor money management, inadequate knowledge of the market, or a bad methodology, it is usually an internal factor - a lack of: discipline, emotional control, patience, and especially an improper attitude about losing and risk.

Trend days, (in equities) occur only 14% of the time while range days occur 86% of the time. The trick is to be able to identify trend days as early in the trading session as possible and adjust your strategy accordingly. The other 86% of time (majority) you can trade a tight mean reversion strategy.

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you dont have to be right all the time to still finish right

sat down @ pc @ 10:30 traded till 3pm done

Note traded off my larger time frame chart used this one as reference

Had high and low targets just traded to them 1 st trade knew i was wrong flipped 2nd was busy did not close out to the good +2 rode back down reacted then had short bias is why I stayed in trade as long as I did, then reacted no emotion just analyze probability of each direction.

This is prime example why one cant over leverage account

after commissions still made 3.25 pts for day

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Hod 54.50

Main reason for journal was to interact with others and compare confluences, I will admit playing around in the beginning but didnt expect the criticism I received in the beginning pages, saying things like trading isnt for everyone, I didnt know where or why i took trades etc... probably, so I guess. Im ending this journal this time.

FYI-didnt want anyone to think I ended bc my success rate changed, bc this is what ya would think.

New traders follow what others have said and I said in my journal and I hope your path becomes easier

Happy Trading to all

@Jedi I agree dont show any charts,do your thing brother...trade on, remember my numbers from chat today

also for shit and giggles

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info for looking back

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targets-confluences on R2 and Y-Vwap off upper chart...y-high confluence w ON high-R1 and 50%

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volume watch/Gradient fibs

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ON range tight>pattern in formation due to PA>looking for retest> move upward target

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pre post earlier-post now

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  #67 (permalink)
Greensboro NC
 
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Pre-ON inside prior Rth VA. looking for range day with breakout-news day-

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  #68 (permalink)
Greensboro NC
 
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Post charts- @aligator (showing you what I did) @COTtrader I saw same as your am Spoo chart showed( possible breakout higher) i went long @43 after retest of Globex low-Vwap-PP my target was 1648 which was top of prior Rth VAH. we got to 47 then floated around I knew we might have a range day from my Pre charts, then pop on FOMC which it did. I was thinking higher made it take me out by breaking LL which it was fast i flipped short was looking for J-K period to take us to 35 it took us to 35.75 but then flew back up I flipped again Globex low and said Id had enough because I wasnt seeing the market the way i wanted went to lunch...Came back to see we rotated between 60-20% of current range to then breakout lower @Est 2:40ish one retest of Val/Y-Low then failed to lower S3 pivot

Thoughts comments?

Hindsight I should have closed when i had profits/slight green day just didnt play out in my direction

Quote to remember " But after FOMC, best trades are in the opposite direction of the expected big swing after its over. by Fib Master

Edit after review, I missed my target @ 48 we got to 47.50(which 2 ticks is close enough) but i wasn't watching my ninja i was watching Sierra which plots lines from Tpo chart to vwap chart . Edit need to watch charts in Larger size-I use ninja for execution of trades Sierra is data only(mostly Tpo)

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  #69 (permalink)
Greensboro NC
 
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Tpo chart for 6/19 data

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  #70 (permalink)
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Pre 6/20 we dropped 40ish points in 24hrs off Fomc. ON has found prior support. Housing and Philly Fed Manuf # @ 10amEST, so I expect a rebound back up,unless bad then down Im playing this as range day till "if" breakout occur in one direction meaning establish HH or LL

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  #71 (permalink)
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Post-ON had found prior support then on ES normal 2nd push of session traded lower target,, then retest upper Val/prior res then traded to retest lower support then after 2ish thats all she wrote-breakout lower.. tested 2 lower Tpo before finding support

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  #72 (permalink)
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recap 6/21 didnt trade any 1 scalp @lunch was away from pc

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  #73 (permalink)
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6/24 @Private Banker....Ive stumped myself, how do i get this Tpo chart to backfill correctly to use it. i have rithmic feed, I can go back to expired contract and get back data but I dont see how you could use it(price differnce). Suggestions and as always thx Ben

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  #74 (permalink)
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6/24 @Private Banker....Ive stumped myself, how do i get this Tpo chart to backfill correctly to use it. i have rithmic feed, I can go back to expired contract and get back data but I dont see how you could use it(price differnce). Suggestions and as always thx Ben


Looks like you have a small amount of days loaded on your chart. Try and increase that to at least 120 days. Once loaded, spread the chart out a little so you can see the TPO structures better.

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  #75 (permalink)
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Private Banker View Post
Looks like you have a small amount of days loaded on your chart. Try and increase that to at least 120 days. Once loaded, spread the chart out a little so you can see the TPO structures better.

no I have 180 days plus Ive gone into settings and you have the option to change date for lookback I went back to Feb even doing this chart wont go back past 5/1. I compacted chart so you could see the first start date. Ill research im thinking it has something to do with Rithmic,

Im assuming when you change your days lookback or date look back period even on current contract your Tpo will display back to the date you requested, correct?

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  #76 (permalink)
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Rad4633 View Post
no I have 180 days plus Ive gone into settings and you have the option to change date for lookback I went back to Feb even doing this chart wont go back past 5/1. I compacted chart so you could see the first start date. Ill research im thinking it has something to do with Rithmic,

Im assuming when you change your days lookback or date look back period even on current contract your Tpo will display back to the date you requested, correct?

With IQ Feed, they provide a continuous back-adjusted contract that I use to avoid any issues. The TPOs should be set at 1 day, with multiple periods fixed by time, 30 minute periods.

Could be a data issue though.

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  #77 (permalink)
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Private Banker View Post
With IQ Feed, they provide a continuous back-adjusted contract that I use to avoid any issues. The TPOs should be set at 1 day, with multiple periods fixed by time, 30 minute periods.

Could be a data issue though.

...thanks for your help, now I know its Rithmic so I can address

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  #78 (permalink)
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@aligator

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  #79 (permalink)
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Rad4633 View Post

@Rad4633,

Thanks a bunch. I replced the file locations with a new picture file llocation then drop it on a chart, and nothing happens.

All I realy want to do is put a picture in the chart background and don't care about the trend or distortion of the picture.

Thanks.

btw, thanks for guiding me to your thread. I did not recall you had started a thread.

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  #80 (permalink)
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@aligator

this Gradient Mountain made me miss the big push in ES or it saved my floundering around either way TGIF

I did have a sim short in play, hummm will see(ES) let go for weekend we ll see

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  #81 (permalink)
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answer-127.2 up

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  #82 (permalink)
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Thanks again. I knew a cave man can do it

The mother of all pattern indicators.


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  #83 (permalink)
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+6.75 pts posting to keep me honest

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