CL was a wild one today. I was trying to follow along with Kam the leader in the l2st room and I couldn't keep up. He was entering on the high volume nodes and putting his stop at -2. He is a pretty good scalper, very quick and good at reading the footprint chart.
My main focus is on ES right now and there I got 3 pts. ES is still experimental so for now I'm not worried about P&L, just working out some ideas and doing some tests. I'm working on getting out of scalping and going for the bigger setups that have potential for a nice move. I'll still use a scalping technique to time the entry, but it means I'll pass on some of the smaller scalping setups. I need some more practice before I will have an idea of how it works.
-150 euros on dax. There wasn't a lot of activity, very little professional activity at least in the beginning so I stayed out and worked on studying and preparing for ES.
I've talked about indicators & trade ideas a lot and I haven't gotten much feedback. I'm curious if anyone sees any value in the indicators I'm using. Don't be afraid, if you think they're worthless I'd like to know. Or if you think they're useful. I'd also like to know what you want to see more of.
In the meantime I'll be posting a little less because I plan to focus on ES and I'm trying out different ideas so I'm not really following the P/L right now.
I see lots of value in the tools you're using and how you're using them. Some of us are just quiet but I've benefited tremendously from your posts. You're the best. Are you still looking at the value line and the accumulation/distribution indicators?
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I actually took value line off my chart. While I do see that when price divergences price will often come back, it doesn't happen every time. But the main reason is because the way it's calculated. I just can't accept the premise of the indicator. So it was an interesting experiment and I learned some things from it.
I love easylanguage because I can literally take an idea and code it up in minutes. At the same time that can cause me to spend a lot of time on my crazy ideas.
For accumulation / distribution, I do find it helpful and I usually look at it after the close each day. Here are the past few weeks. This doesn't have much of an impact for small day trades, other than potentially helping to trade with the trend. But do you think it would be useful for small swing trades (1-5 days)?
What's the premise of the value line indicator? Based on the screenshots I think the A/D tool looks useful for swing trades. Maybe combining the A/D with value (MP or value line? lol) would provide a good 1-2 punch.
I'm sorry if I haven't commented. I'm not sure how you use these indicators so I don't comment. Perhaps you've explained already your setups but I either missed it or don't remember, and you seem to have changed your plan around a bit over time so I haven't kept track.
I thought about doing one on cycles but I thought there wasn't enough interest. I bet most here even think I'm nuts.
Then I thought I don't have enough time to make a bunch of slides etc. But I think if I did one I'd just write out a little agenda and then do it all with charts. Maybe a market replay at 20x for a "live" example. Just brainstorming. If there is interest I'll do it.