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My Yellow Brick Road -by bd92154


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My Yellow Brick Road -by bd92154

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  #761 (permalink)
San Diego
 
Experience: Intermediate
Platform: NinjaTrader/Think or Swim
Broker: TDA/Interactive Brokers/ Data Feed TDA & IBK ( Dropped Kinetick)
Trading: Stocks NASDAQ
 
bd92154's Avatar
 
Posts: 1,056 since May 2011
Thanks: 1,541 given, 445 received

Will be back trading tomorrow. Will finish prep work tonight.

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Can you help answer these questions
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  #762 (permalink)
San Diego
 
Experience: Intermediate
Platform: NinjaTrader/Think or Swim
Broker: TDA/Interactive Brokers/ Data Feed TDA & IBK ( Dropped Kinetick)
Trading: Stocks NASDAQ
 
bd92154's Avatar
 
Posts: 1,056 since May 2011
Thanks: 1,541 given, 445 received

Knew I forgot something yesterday... To post my DAILY Journal.
Not much to look at.... More head scratching than anything else.


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  #763 (permalink)
San Diego
 
Experience: Intermediate
Platform: NinjaTrader/Think or Swim
Broker: TDA/Interactive Brokers/ Data Feed TDA & IBK ( Dropped Kinetick)
Trading: Stocks NASDAQ
 
bd92154's Avatar
 
Posts: 1,056 since May 2011
Thanks: 1,541 given, 445 received


https://investiquant.com/cms/wp-content/uploads/0QXgiSAlUCjoYU6K3pvC/UnderstandingGaps-updated2.18.16.pdf

Still scratching head.... In search of GAP trading I found this on the WEB... Still working and don't know value as yet... Saw it referenced by another trader on Amazon... After digging found it in PDF format free

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  #764 (permalink)
Tampa, FL/USA
 
Experience: Intermediate
Platform: TradingView
Trading: NQ, ES
 
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Posts: 260 since Aug 2016
Thanks: 184 given, 363 received

Interesting read, thanks for posting the link.

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The following user says Thank You to Comeback King for this post:
 
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  #765 (permalink)
San Diego
 
Experience: Intermediate
Platform: NinjaTrader/Think or Swim
Broker: TDA/Interactive Brokers/ Data Feed TDA & IBK ( Dropped Kinetick)
Trading: Stocks NASDAQ
 
bd92154's Avatar
 
Posts: 1,056 since May 2011
Thanks: 1,541 given, 445 received



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  #766 (permalink)
Tampa, FL/USA
 
Experience: Intermediate
Platform: TradingView
Trading: NQ, ES
 
Comeback King's Avatar
 
Posts: 260 since Aug 2016
Thanks: 184 given, 363 received

A couple of comments. From #2 on your trading plan, exit if not profitable in 90 seconds...that might be asking too much given the volatility we have on the ES. I could see that maybe being viable if you're tick scalping or something beyond that, I think you could expect to take a little heat off your entry.

I think it also might be helpful to identify an entry and exit scenario, rather than go by gut feel. You've got a lot going on with your charts as far as levels and indicators and such, but you could probably pick a set of criteria and go from there. If price breaks the PP and condition X is present, then I will enter a trade sort of thing. Then you can develop a risk overlay and do some back testing. Or maybe enter a trade when the IB high or low is broken, you would buy or sell the breakout if X is present, or enter on the pullback to that area if X is present, or fade the break if X is present.

I don't think that any one of those things also has an edge by itself or even in combination with some other set of circumstances, but if you have a good risk overlay you might be able to create a profitable model from which to start.

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  #767 (permalink)
San Diego
 
Experience: Intermediate
Platform: NinjaTrader/Think or Swim
Broker: TDA/Interactive Brokers/ Data Feed TDA & IBK ( Dropped Kinetick)
Trading: Stocks NASDAQ
 
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Posts: 1,056 since May 2011
Thanks: 1,541 given, 445 received


Reason for EXIT: Forgot to include that I just pulled in TARGET to one tick to exit trade.

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  #768 (permalink)
San Diego
 
Experience: Intermediate
Platform: NinjaTrader/Think or Swim
Broker: TDA/Interactive Brokers/ Data Feed TDA & IBK ( Dropped Kinetick)
Trading: Stocks NASDAQ
 
bd92154's Avatar
 
Posts: 1,056 since May 2011
Thanks: 1,541 given, 445 received

NTD not just because FOMC ... Just no true edge for me.


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  #769 (permalink)
Toronto Canada
 
 
Posts: 50 since Jan 2017
Thanks: 4 given, 103 received

I have found it's very hard to count waves with bars under 5 min. The concept behind a "wave" is that the price action is conveying information, but the period is so short that that information you need to make a decision hasn't necessarily shown up in the chart pattern. The reason I say this is that anytime I see a lot of bars with the same price tops and bottoms then the peaks and troughs have less value not more as it doesn't take much extra volume to create a high or low tick.

If it's working for you then great, I was just wondering.....

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  #770 (permalink)
San Diego
 
Experience: Intermediate
Platform: NinjaTrader/Think or Swim
Broker: TDA/Interactive Brokers/ Data Feed TDA & IBK ( Dropped Kinetick)
Trading: Stocks NASDAQ
 
bd92154's Avatar
 
Posts: 1,056 since May 2011
Thanks: 1,541 given, 445 received



Northernlimit View Post
I have found it's very hard to count waves with bars under 5 min. The concept behind a "wave" is that the price action is conveying information, but the period is so short that that information you need to make a decision hasn't necessarily shown up in the chart pattern. The reason I say this is that anytime I see a lot of bars with the same price tops and bottoms then the peaks and troughs have less value not more as it doesn't take much extra volume to create a high or low tick.

If it's working for you then great, I was just wondering.....

Thanks for the comment, and you are right.

The wave time period off my trading chart is automatic indicator from TOP DOG TRADING... It is dynamic and wave count numbers change based on Dr. Barry Burns rules. I only post just my trade chart as it would be a bit much to post all my charts as I look at multiple charts throughout the day to base trading decisions on.

Here's a look at my heads up display. I primarily go off Stochastics for my trades. I prefer to have 15/6/ and 2 min charts in agreement, but won't always wait for that to happen. If you want a better more detailed picture right click on picture select save as from the pop up menu and save to your computer. You can then open the JPG file with any photo editor to see more detail. My trade chart is that small chart near the lower right hand corner.

Thanks and hope this clears up peoples questions about charts.


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