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COMMON SENSE


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COMMON SENSE

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  #901 (permalink)
 sandptrader 
Valdosta, GA. U.S.A
 
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mfbreakout View Post
" There are only 2 refrence points for me 83.20 area and 81.40 area. Price staying below 83.20 area i expect CL to rotate down."

Out flat 81.35 and looking for longs.

You followed through like you said yesterday Down to your 81.40 Area.
I also had the same Analysis that we would move Down, and had Entered below that VWAP.
i edited in my original post about what the reason was for closing the Trade.
Fear......so i performed the Mickey Mouse Stop out.
One of the things you mention, which is truth.

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  #902 (permalink)
 mfbreakout 
BOSTON, MA
 
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sandptrader View Post
You followed through like you said yesterday Down to your 81.40 Area.
I also had the same Analysis that we would move Down, and had Entered below that VWAP.
i edited in my original post about what the reason was for closing the Trade.
Fear......so i performed the Mickey Mouse Stop out.
One of the things you mention, which is truth.


Fear is a good thing if analyzed within context. For example, i will not short at 81.90 etc. even if my analysis shows CL MAY go to 81.40- WHY? becuase my stop loss above 83.20 does not justify the risk. Short around 82.70 area still involves 60 ticks stop loss.
So fear of 60 ticks stop loss from 82.70 Vs fear of 130 ticks stop loss from short around 81.90. We alll have fears and it's good to have one. I take biggest stop loss range and then decide if i want to take the trade.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #903 (permalink)
 mfbreakout 
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Short TF. I prefer to trade indices ONLY when market internals are up at NY open. I have been testing somethings and decided to take it for a test drive.

NOTE: Please ignore spelling mistakes on the chart. It should read " distance'.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #904 (permalink)
 mfbreakout 
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Delicious dish.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #905 (permalink)
 mfbreakout 
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Come on Zakk- we are waiting for your stop loss , trading etc post. Otherwise you will be added to ----- scratchers list (lol). That list is already mile long, we don't need more on that list.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #906 (permalink)
 sandptrader 
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Waiting for News out at 8:30 EST...as Market looks stalled...i have Bracket at 81.60 and 81.20 on this Chart.
Basically i see what you do for the upside to 82.00-82.20
Downside to 81.00-80.70.
But i feel i need to wait till news is out and Bracket is broken.

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  #907 (permalink)
 sandptrader 
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mfbreakout View Post
Delicious dish.

Over the week end i am going to set up my Charts like yours on my TOS platform from your post #888
i can use that also like you do to help when i Trade TF, NQ.
i will have to learn a bit more of what each chart is telling me, but it will be a start...i am not familar with the top row of charts in that screen shot.

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  #908 (permalink)
 mfbreakout 
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mfbreakout View Post
Delicious dish.

Out some 80.78



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #909 (permalink)
 mfbreakout 
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mfbreakout View Post
Out some 80.78

I have more faith in OR than anything else when it comes to CL. Everything revolves around it when NY session gets going. I will be careful with longs till buyers show up.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #910 (permalink)
 sandptrader 
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Complete Reversal....like you said Rotation ....the Market broke out above 81.60 up to the 81.80 Area , and did a Complete Reversal all the way back down to 81.......your Right you have to be Ready for anything.

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  #911 (permalink)
 mfbreakout 
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sandptrader View Post
Complete Reversal....like you said Rotation ....the Market broke out above 81.60 up to the 81.80 Area , and did a Complete Reversal all the way back down to 81.......your Right you have to be Ready for anything.

Yes. " .the Market broke out above 81.60 up to the 81.80 Area". There is no such thing as market broke when it's ONLY 20 ticks. How about 50 ticks and never looking back. That's much easier to see and trade.



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  #912 (permalink)
 mfbreakout 
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Does anyone has any doubts based off market internals this morning which way a trader has higher probability of success in TF?



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Does anyone has any doubts based off market internals this morning which way a trader has higher probability of success in TF?

short 1146 area. Cover some 1137. Added to short as TF came up around 1142 area. In the end we may end up with an UGLY rotation with ATR/OR but i am only interested in shorts as long as internals are -ve.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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sandptrader View Post
Over the week end i am going to set up my Charts like yours on my TOS platform from your post #888
i can use that also like you do to help when i Trade TF, NQ.
i will have to learn a bit more of what each chart is telling me, but it will be a start...i am not familar with the top row of charts in that screen shot.


ShadowTrader | Swing Trading, Day Trading, Pairs Trading, FX Trading, Futures and Market Profile

The site will explain how to set up internals and use them for TOS. I can not find area within site as to where it shows about internals. Send them an e-mail or ask TOS help desk.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #915 (permalink)
 mfbreakout 
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Hi Sandptrader,

I don't recognize GA if i go by this ad. Have not been back to GA since my college.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
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Hi Sandptrader,

I don't recognize GA if i go by this ad. Have not been back to GA since my college.

Never seen that many on anyone........and have never seen this pair of individuals .....but i think there are folks that like to use their body as a canvas to express their self it seems.
LoL.....

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  #917 (permalink)
 mfbreakout 
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While TF and CL can not seem to get out of their own way- KC is getting roasted.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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mfbreakout View Post
short 1146 area. Cover some 1137. Added to short as TF came up around 1142 area. In the end we may end up with an UGLY rotation with ATR/OR but i am only interested in shorts as long as internals are -ve.

Shorts turned out to be 5 points trades. 30 minutes ATR got taken out. Long 1146 and if 1154 area gets taken out, TF can run. Out some 1151.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Shorts turned out to be 5 points trades. 30 minutes ATR got taken out. Long 1146 and if 1154 area gets taken out, TF can run. Out some 1151.

Out some more 1157.60. No reason to take off except that i am quite loaded.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 ness1g 
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my take on TF

TF update

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 mfbreakout 
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mfbreakout View Post
Out some more 1157.60. No reason to take off except that i am quite loaded.

1130 to 1158- 28 handles. twice daily ATR. Out flat 1154.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 alejo 
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as you say we need to hold the winners

yesterday long +30 between 1137.6 and1142

and close a moment ago at 1152.90 and 1153
for



$36k

and es

15 car from 1967 to 1992.25
$18k




thanks

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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 mfbreakout 
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Advatage of trading multiple instruements is that one takes a trade per set up, place stop loss and then look at end of the day if not stopped out as to what happened. One can not trade multiple instruements while looking at P&L, DOM etc. I actively watch CL but that's due to old habit plus damn thing moves intra day so much that it's tough to completely put it on an auto pilot.

Currently holding shorts in CL, ZS, KC and NG. In CL 3 shorts and 1 long.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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For Alejo,

CONGRATULATION.




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Why the hell anyone will watch jumping prices- I am guilty of that also? In 5 years i have not found any benefit from doing it. I definetly see lot of harm in doinng so.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Why would anyone go long TF around 1148 on a pullback from 1158? I do not know other traders reasons but A up pullback combined with + internals, VIX collapsing etc. and BOOM.

NOTE: Stopped out on NG short. Looking for longs.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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As i get ready for Euro session and turned on my computer- every thing up and up.

" Yen Plunges as Japan Stocks Jump on Bank of Japan Stimulus; Gold Retreats"

Withoust catalyst there is no change and without change there is no opportunity.-- Jim Dalton

" The yen plunged to a six-year low while shares in Tokyo jumped the most in a year as the Bank of Japan unexpectedly increased its target for monetary stimulus. U.S. equity-index futures surged, gold fell below $1,200 an ounce and oil extended losses".

I hope no one went short last night in ES, TF etc just based on charts, resistance and similalry no one is day dreaming that this rip up during Asian session was all laid out in the technical patterns , charts etc. Key word in above statement is " Unexpectedly".



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 mfbreakout 
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Firsst action this morning is to cover some Gold short from 1220 area.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #929 (permalink)
 mfbreakout 
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mfbreakout View Post
Firsst action this morning is to cover some Gold short from 1220 area.

Damn- Euro session opens and drop GC 16 points from my cover around 1186. I am glad i did not cover entire short position.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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" Currently holding shorts in CL, ZS, KC, GC and NG.".

1) Out flat GC 1171 area.

2) Got stopped out of NG yesterday. Took long and it's looking good.

3) ZS- neither here or there. Still short.

4) CL- finally got paid some.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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" NOTE: Stopped out on NG short. Looking for longs"

What i find interesting they all trade the same way- more or less if one is willing to give enough room via stop loss.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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For my friend Runner. Out some.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Ttrying to pick bottom is never a good idea. Out of CC long after 3 days. Neither here or there. I should focus on bounces so that i can short rather than being a bottom picker.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
Valdosta, GA. U.S.A
 
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Good morning mfbreakout....are you watching ZS today?
Looking weak.

Flat....heading to town....i just take some of that leg down.

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 mfbreakout 
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sandptrader View Post
Good morning mfbreakout....are you watching ZS today?
Looking weak.

I am short since yesterday around 1042. Curently shorts in CL, KC, ZS and just took a short in NG for reversion to the mean pull back.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Ttrying to pick bottom is never a good idea. Out of CC long after 3 days. Neither here or there. I should focus on bounces so that i can short rather than being a bottom picker.

It's good to have 6th sense. After i got out of long in CC - it has dropped 33 points. When i took long 2 days ago, i knew it's not right because long was against the trend . Got lucky and pulled the plug before next leg down.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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I have not taken any trades in TF. NQ. No need to pick tops till market internals gives somee clues. Plenty of other instruements to trade.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
Valdosta, GA. U.S.A
 
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Aside from CL, TF, GC, ZS,CC, KC,PL,PA.....are you following anymore for possible Trades ?
I was thinking of expanding my watch list.

Closed my ZS Trade....I Edited my first post....have to leave out for Appointments...have a Great Day,,,,see you guys Monday. @mfbreakout...Thanks for the Link on setting up the TOS Internals workspace.

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 mfbreakout 
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sandptrader View Post
Aside from CL, TF, GC, ZS,CC, KC,PL,PA.....are you following anymore for possible Trades ?
I was thinking of expanding my watch list.

Closed my ZS Trade....I Edited my first post....have to leave out for Appointments...have a Great Day,,,,see you guys Monday. @mfbreakout...Thanks for the Link on setting up the TOS Internals workspace.

I am trying my hand at Euro futures. So far only 1 trade in 6 months. By the time i am done with above mentioned list, i have no time or energy left. So for the time being no forex and just instruements from that list.



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 Zakk 
Sacramento CA
 
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Went short at 80.24 at the top of the OR . Having a wide stop loss kept me in the trade.

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 mfbreakout 
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Zakk View Post
Went short at 80.24 at the top of the OR . Having a wide stop loss kept me in the trade.

Thanks Zakk,

if you do not mind share with us what does wide stop loss means? When did you started using it, reasons etc. Nice trade. I have seen a trade like this 1000's of times over last 5 years and it's a money maker on first test.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Every day requires discipline but a day like today really demands that traders kep their emotions in check. It also requires small position size. I have taken ONLY 2 trades since NY open. Rest of the trades were from yesterday.

1) I was holding short in CL from yesterday. Covered around 79.61.

2) Long NG from yesterday. Got out and short before NY open for reversion to mean set up.

3) Short in GC was from couple of days ago. Covered around 1171. Reshorted 1168 area after NY open and out 1163 off ORL.

( same set up as Zakk took in CL. Basically short off ORH on failed A up set up).

4) Short TF 1171 area. My mind was made up that with strong internals , i will get out around ORL. Regardless how +ve internals are, i can not go long at highs. Got lucky with short and done with TF. No need to Mikey Mouse within 4 points range when one can not lean against internals. Short against ORH on failed A up is the only set up i will trade.

5) CC, GC , ZS taught and confirmed that when something is in a down turn- you may not have ideal entry but you will still be successful if you trade with the trend. I was foolishly scared to short CC and went long. CC dropped another 54 points and counting. That's the reason i reshorted GC.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 alejo 
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Zakk View Post
Went short at 80.24 at the top of the OR . Having a wide stop loss kept me in the trade.

more traders following mfbreakout stop loss theory!

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #944 (permalink)
 mfbreakout 
BOSTON, MA
 
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I use considerable chunk of weekend time going over resources like following video and host of others. The resources availabe to retail traders are just amazing. We get to see every kind of market view etc. I have gotten great ideas from hedgeye which worked nicely and the others which did not work. I made money from ideas which worked and ideas which did not work. How is that possible?

It's possible because as day and short time frame swing traders ( 2-3 days maxium for me) we trade PRICE ACTION. By price action, i do not mean that we count candles all day etc. I look at market internals. My equation is simple. SOLID GREEN= Longs only, SOLID RED= shorts only, NEUTRAL= Scalp and get the hell out as soon as possible.

Hedgeye and others similar like them were right on money as TF was getting sold at will. They had a premise with lot of excellent research, data behind it. As NY session will open and internals were SOLID RED= I shorted at will and held the trades. During this period we saw bulls camp just kept talking about pullback as nothing to worry about, it's only down 3% etc. Once TF got down to 15% they got in fetal position as Keith of hedgeye like to say.

Since TF reversal, Hedgeye and like just can not seem to come to terms of this massive up move. The research, data they were relying on is still intact from macro point of view as Keith talks about in this video. I do not care becuase everyday i open up my platform and NY session opens up i see SOLID GREEN across the board. Since, SOLID GREEN= Longs only, that's what i tried to trade mostly.

Since market is made up off hundreds of variables, the BOUNTY is up for grabs for traders who are not just stuck with one side of the equation, point of view etc. When TF was at lows and if internals were SOLID RED, i would have continued to short at so called lows. Since they were not, it meant lows are in and we keep trading from the long side as long as it's SOLID GREEN. This does not mean we just close our eyes at buy at highs and sell at lows. Equation for that is also simple.

SOLID RED= Short into bounces. Trade with the trend and not worry so much about stop loss.

SOLID GREEN= Buy into pullbacks. Trade with the trend and not worry so much stop loss. If a trader is trading with the trend and price has moved so called against him by 4 points, as an example, this does not mean trade is wrong. All it means trader timing was off etc. Look at TF chart during 15% sell off and then reversal over last week- what's the value of worrying about position going against you temporarily as long as trade was with the trend?




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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I do not know how the hell following got into my mail but it is quite tempting (lol). Every minute a new sucker is born.

" Asking Price:
$14,999
Gross Revenue:
$75,000
Cash Flow:
$70,000
Inventory:
Not Disclosed

FF&E:
Not Disclosed

Real Estate:
Not Disclosed

Share this business:

Business Description
Offering a easy to learn system that generates profits with no decision making. It's an automated system. You don't need any experience in the stock market. I will train you on everything.
It averages 24.09% per month over a 5 year period.

Right now, for a limited time, we're offering a profit payment system. What this means is you have the option of paying half during training and the remaining amount can be paid off from the profits you generate from this system. WE ARE THAT CONFIDENT IN THE SYSTEMS!

Complete with three profitable trading systems. (Trade All or Trade Some)"



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #946 (permalink)
 sandptrader 
Valdosta, GA. U.S.A
 
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mfbreakout View Post
I do not know how the hell following got into my mail but it is quite tempting (lol). Every minute a new sucker is born.

" Asking Price:
$14,999
Gross Revenue:
$75,000
Cash Flow:
$70,000
Inventory:
Not Disclosed

FF&E:
Not Disclosed

Real Estate:
Not Disclosed

Share this business:

Business Description
Offering a easy to learn system that generates profits with no decision making. It's an automated system. You don't need any experience in the stock market. I will train you on everything.
It averages 24.09% per month over a 5 year period.

Right now, for a limited time, we're offering a profit payment system. What this means is you have the option of paying half during training and the remaining amount can be paid off from the profits you generate from this system. WE ARE THAT CONFIDENT IN THE SYSTEMS!

Complete with three profitable trading systems. (Trade All or Trade Some)"

Sounds Great...But you have $15000 up front, and no way of knowing if it is Legit...or i am Speculating based on what you posted.
Is there a way to further check out these guys...or see some Real track record of their System...it is Interesting.
But in my Opinion you do not need anyone's help mfbreakout......but i am like you, and would be interested to
know more about their System.
Message me if you do not want to post where this came from....if you did not mind letting me know.
I can help check it out a bit more.
LoL....i could use this in my IRA Account....

 
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  #947 (permalink)
 sandptrader 
Valdosta, GA. U.S.A
 
Experience: Advanced
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Thanks: 1,881 given, 472 received


mfbreakout View Post
I use considerable chunk of weekend time going over resources like following video and host of others. The resources availabe to retail traders are just amazing. We get to see every kind of market view etc. I have gotten great ideas from hedgeye which worked nicely and the others which did not work. I made money from ideas which worked and ideas which did not work. How is that possible?

It's possible because as day and short time frame swing traders ( 2-3 days maxium for me) we trade PRICE ACTION. By price action, i do not mean that we count candles all day etc. I look at market internals. My equation is simple. SOLID GREEN= Longs only, SOLID RED= shorts only, NEUTRAL= Scalp and get the hell out as soon as possible.

Hedgeye and others similar like them were right on money as TF was getting sold at will. They had a premise with lot of excellent research, data behind it. As NY session will open and internals were SOLID RED= I shorted at will and held the trades. During this period we saw bulls camp just kept talking about pullback as nothing to worry about, it's only down 3% etc. Once TF got down to 15% they got in fetal position as Keith of hedgeye like to say.

Since TF reversal, Hedgeye and like just can not seem to come to terms of this massive up move. The research, data they were relying on is still intact from macro point of view as Keith talks about in this video. I do not care becuase everyday i open up my platform and NY session opens up i see SOLID GREEN across the board. Since, SOLID GREEN= Longs only, that's what i tried to trade mostly.

Since market is made up off hundreds of variables, the BOUNTY is up for grabs for traders who are not just stuck with one side of the equation, point of view etc. When TF was at lows and if internals were SOLID RED, i would have continued to short at so called lows. Since they were not, it meant lows are in and we keep trading from the long side as long as it's SOLID GREEN. This does not mean we just close our eyes at buy at highs and sell at lows. Equation for that is also simple.

SOLID RED= Short into bounces. Trade with the trend and not worry so much about stop loss.

SOLID GREEN= Buy into pullbacks. Trade with the trend and not worry so much stop loss. If a trader is trading with the trend and price has moved so called against him by 4 points, as an example, this does not mean trade is wrong. All it means trader timing was off etc. Look at TF chart during 15% sell off and then reversal over last week- what's the value of worrying about position going against you temporarily as long as trade was with the trend?


Thanks for your Insight, ...and with that i want to ask you if you have tried to Replicate on TOS what the Stockmapper shows as far as Mostly Green/Mostly Red Screen shot....which is delayed....it would be Real time in TOS.
Or is this worthwhile to set up....thinking it may help some.
I will continue to work on setting up the Market Internals screen/workspace.
Thanks for Hedgeye...i save their website on my Desktop to keep up with them.
I am also adding ORH & ORL to my Charts...just having to Decide which of the Indicators i want to use that plots this data.
Are you using RTH....if so i am assuming the U.S. Session ?...there are choices on the Indicator, as well as starting time.
How long of time has to pass after Opening before i can say the ORH & ORL have been Identified ?...this is also a Parameter i can set in the Indicator.
Sorry for all the questions, but i would like to be looking at the same things as you as much as possible, and this is
my starting point.

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  #948 (permalink)
 mfbreakout 
BOSTON, MA
 
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sandptrader View Post
Sounds Great...But you have $15000 up front, and no way of knowing if it is Legit...or i am Speculating based on what you posted.
Is there a way to further check out these guys...or see some Real track record of their System...it is Interesting.
But in my Opinion you do not need anyone's help mfbreakout......but i am like you, and would be interested to
know more about their System.
Message me if you do not want to post where this came from....if you did not mind letting me know.
I can help check it out a bit more.
LoL....i could use this in my IRA Account....

LOL- " But in my Opinion you do not need anyone's help mfbreakout." Thanks for your concern. I posted this to be FUNNY not to get feedback whether it's legit.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
BOSTON, MA
 
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Hi Sandptrader,

TOS has the same thing called market watch. I posted stockmapper for traders who do not have TOS platform. Having REAL TIME data is of little value in this case. The beauty of index like TF, ES etc. is that they just sit within a tight range for some time before making a REAL move. There is no reason to rush. It takes 5-10 minutes to see if market internals are REAL GREEN, REAL RED. Initially they are just neutral. Traders jump on the trade without real confirmation and get worried as price moves back and forth with 2-4 points. I have no interest in trading till things line up properly.

RTH. For CL OR is 8.30 to 9.15 am It's 45 minutes. For ES, NQ, TF etc it's 9.30 am to 9.50 am. Thus OR is 20 minutes. Indicators for TOS https://www.thinscripter.com and for Ninja, fat tails had them for free in elite section.

ACD Method Intro



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
BOSTON, MA
 
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Index are easiest instruements to trade provided one looks at big picture.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
Valdosta, GA. U.S.A
 
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mfbreakout View Post
LOL- " But in my Opinion you do not need anyone's help mfbreakout." Thanks for your concern. I posted this to be FUNNY not to get feedback whether it's legit.

..........i was 99.9 % Sure you would not fall for that one...Now i am 100% Positive.
I just automatically started Analyzing their add for that System , as it Sure sounded like a Scam...
Your Right it is Hilarious ...at what people will do to try and Convince you to give up your money.

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 sandptrader 
Valdosta, GA. U.S.A
 
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mfbreakout View Post
Hi Sandptrader,

TOS has the same thing called market watch. I posted stockmapper for traders who do not have TOS platform. Having REAL TIME data is of little value in this case. The beauty of index like TF, ES etc. is that they just sit within a tight range for some time before making a REAL move. There is no reason to rush. It takes 5-10 minutes to see if market internals are REAL GREEN, REAL RED. Initially they are just neutral. Traders jump on the trade without real confirmation and get worried as price moves back and forth with 2-4 points. I have no interest in trading till things line up properly.

I will use this data for setting up the Indicator for OR for each Instrument.

RTH. For CL OR is 8.30 to 9.15 am It's 45 minutes. For ES, NQ, TF etc it's 9.30 am to 9.50 am. Thus OR is 20 minutes. Indicators for TOS https://www.thinscripter.com and for Ninja, fat tails had them for free in elite section.

ACD Method Intro

I will use this data for setting up the Indicator for OR for each Instrument.
I will take note of all you have said in this post....many things in here you said to watch for.
I Appreciate all you are sharing.

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  #953 (permalink)
 mfbreakout 
BOSTON, MA
 
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sandptrader View Post
I will use this data for setting up the Indicator for OR for each Instrument.
I will take note of all you have said in this post....many things in here you said to watch for.
I Appreciate all you are sharing.


Just make sure you trade with your core trading method and ONLY incorporte something else either from here or anywhere else if it enhances your current method. Never ever say to yourself that you will learn new trading method to expand trading set ups. Every successful trader i know off has 2-4 key set ups and they just trade them whenever they line up.

I have tried reading other traders methods and regardless how hard i try to understand they never make any sense to me. I have picked up things here and there from other traders and if something aligns with my current method, i incorporate into my method, otherwise " NEXT". In summary anything will work if a trader just get down with 2-4 set ups and ONLY trade them every time. If i could get following set up couple of times a week - i can break the bank just on this ONE set up.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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My prayer for Monday morning trading session for Crude ?I will be jumping up and down with excitement if Crude moves from closing price of 80.70 on friday to 82.70 area price during Globex session. I will short it. It's easier to short bounces within a bearish trend. If CL price just lingers around $80 area by the time NY session opens- it will be disappointing. Why? becuase i will have to wait GOD knows how long for CL to go up higher to get smacked down.

It's not advisable to short a DULL market.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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mapq
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"The more indicators you have, the more confused you will be.
Hear the roar of the candles, and see how it can all be very different."
Happy weekend to all.

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 mfbreakout 
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"The more indicators you have, the more confused you will be.
Hear the roar of the candles, and see how it can all be very different."
Happy weekend to all.

Look forward to your posts either via your own journal or as always you are welcome to post here " Roar of the candles".

Good trading.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 Samm 
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for Ninja, fat tails had them for free in elite section.

ACD Method Intro

Hi @mfbreakout

Congratulations on successfully trading ACD method. In fact creating your own unique trading style from it. I have some questions and need your help, if you don't mind.

(1) I tried to find that indicator by @Fat Tails in elite section but was not able to find it. Could you please tell me what is the name of indicator?

(2) I tried to learn ACD method basics from the link you provided but could not understand a single word from it. It might be because there is no easy explanation with examples of charts. Would it be possible for you to explain system with the help of charts please? Like A up, A down, C up, C down, Failed A etc and whole system at large.

I am afraid that I am asking too much? If this the case than pardon me and please provide may be just one or two chart examples and I will get my basics from there.

I appreciate for all your efforts. Thank you very much.

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 mfbreakout 
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Hi @mfbreakout

Congratulations on successfully trading ACD method. In fact creating your own unique trading style from it. I have some questions and need your help, if you don't mind.

(1) I tried to find that indicator by @Fat Tails in elite section but was not able to find it. Could you please tell me what is the name of indicator?

(2) I tried to learn ACD method basics from the link you provided but could not understand a single word from it. It might be because there is no easy explanation with examples of charts. Would it be possible for you to explain system with the help of charts please? Like A up, A down, C up, C down, Failed A etc and whole system at large.

I am afraid that I am asking too much? If this the case than pardon me and please provide may be just one or two chart examples and I will get my basics from there.

I appreciate for all your efforts. Thank you very much.


1)

Above link has a post from Silver99 in which he has posted ACD indicators Fat Tails developed for him. Fat Tails also has other indicators which i believe is called Noise Bands. As far as explaining ACD method- the link is the easiest one. Read it again but more importantly Mark Fisher book. Attached pdf file from my previous journal should help some. The pdf includes some posts from 2 other excellent traders who used to post at my previous journal. PM fellow trader Zakk for further questions since he is the only trader i am aware of who is using ACD trading method.

NOTE: My trading style has changed quite since that pdf file was created. Main change is wide stop loss but core of trading is still the same.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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I do not day trade stocks and have no desire to do so ( I do swing trade stocks). Someone told me about Lex Van Dam. Following is from his educational site. Anyone with GS pedigree offering education should have some value vs all BS we have all over trading universe in the name of education.

"Meet Lex van Dam.

Born in the Netherlands, Lex van Dam is one of the UK’s most respected hedge fund managers, as well as a leading financial educator. He began his professional career in 1992, trading stocks for Goldman Sachs where he worked for ten years, latterly as head of the equities proprietary trading desk. After that he ran money at GLG, which at the time, was Europe’s largest hedge fund. From 2007 onwards he has been a hedge fund manager at Hampstead Capital LLP.

‘Trading is what I do for living. Financial education is my way of giving back to society.’

Lex van Dam Financial Education - Default index



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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1)

Above link has a post from Silver99 in which he has posted ACD indicators Fat Tails developed for him. Fat Tails also has other indicators which i believe is called Noise Bands. As far as explaining ACD method- the link is the easiest one. Read it again but more importantly Mark Fisher book. Attached pdf file from my previous journal should help some. The pdf includes some posts from 2 other excellent traders who used to post at my previous journal. PM fellow trader Zakk for further questions since he is the only trader i am aware of who is using ACD trading method.

NOTE: My trading style has changed quite since that pdf file was created. Main change is wide stop loss but core of trading is still the same.

Thanks a lot and much much appreciated. This is the information I was looking for.

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 mfbreakout 
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Aussie $ which starts trading 6 pm eastern time can be a good trading instruement. I have ben testing it for some time now. When there are macro head winds then it makes sense to trade. Otherwise i do not find them suitable for my way of trading. It's been getting sold for 5 weeks now. Big gap down right at open.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Susie Wolf has been preparing for this all her life. If you feel pressure while trading as position goes against you for 10 minutes by so many ticks or whatever, think about pressure Susie has to endure with entire world watching.






My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Long ZS.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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KC- stopped out after 3 days.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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My prayer for Monday morning trading session for Crude ?I will be jumping up and down with excitement if Crude moves from closing price of 80.70 on friday to 82.70 area price during Globex session. I will short it. It's easier to short bounces within a bearish trend. If CL price just lingers around $80 area by the time NY session opens- it will be disappointing. Why? becuase i will have to wait GOD knows how long for CL to go up higher to get smacked down.

It's not advisable to short a DULL market.


It's only a wish to define risk. I do not have " CL will do this or should do this" in my vocubulary. 100-150 ticks moves are quite predictable- any thing out side this band is just a GIFT and i have no idea when , where and why those moves come.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
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CL ..Broke below ORL...Shorted below 80.70 for some Ticks, and FLAT as seems to be Staled...Watching
No time to post Chart.


Correction ...Continuation Down...

Charts showing a Nice Trade down...we Broke below ORL with Divergence set up, and headed Down until Divergence formed again.

I should have held on to the Trade until there were Signs/Evidence of a turn.
I am Not saying CL will not continue Down...just pointing out what i should have done.

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 sandptrader 
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Looks Weak...Shorted

Flat...watching

Scalps in both ZS and CL this morning....Great Entries...but Exits are way to soon....working on it...i am aware this is my weakness.

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 mfbreakout 
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CL ..Broke below ORL...Shorted below 80.70 for some Ticks, and FLAT as seems to be Staled...Watching
No time to post Chart.


Correction ...Continuation Down...

Charts showing a Nice Trade down...we Broke below ORL with Divergence set up, and headed Down until Divergence formed again.

I should have held on to the Trade until there were Signs/Evidence of a turn.
I am Not saying CL will not continue Down...just pointing out what i should have done.

Nice trade. Don't worry about posting charts/ trades in real time. Post once you have time. This is not a trade calling journal. All we trying to do is that if someone is trying to go long in an area and you took a short in that area, maybe it will help someone to see why long did or did not made sense there.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Since sandptrader took short, i may as well. Out 79.80 area. Looking for shorts.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
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6A...Example of OR levels....and Trades that could have been taken.
@mfbreakout....Shorted below ORL in Asian Session for Big Cash.......Great Trade.
Price returned to ORL for a Divergence set up for re-entry Short.

Hope you do not mind....thought this would be Relevant to your Method...although i did miss the Trade...i am trying to follow and document, as i intend to add this Strategy to my Trading.
I do have to learn to hold Longer on most of my Trades...which is what you mention to try and do.

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 mfbreakout 
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NG massive move over last 4 days. For TF- nothing much to do except some scalps since she is stuck within OR. As usual when something is in a 4 points range- there is analysis all over the internet. ES is doing this, TF will do that and on and on. I am staying away. Tried short around ORH and covered for a scalp ( anything upto 3 points is a scalp for me). A friend of mine took short in ES on friday into close around 2012 with a stop loss at 2019. If he was making directional bet it would have been OK. Directional bet traders are not trading with Mikey Mouse stop loss and expecting 30 points gains. He finally got pissed off and closed position around 1115. I would rather wait for market internals and then make a bet vs day dreaming.



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 mfbreakout 
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Since sandptrader took short, i may as well. Out 79.80 area. Looking for shorts.


Massive buying came in. Looking for longs. Shorts are over for me in 80 to 81 area. After A down confirmation and within macro bearish trend when price comes back upto ORH ( 80.90 area), there is a short on failed C up set up but i passed on the set up.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Lets do some deep analysis. A 5 year old will look at this and give a simple answer but we have grown ups slicing and dicing this all day long.



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 mfbreakout 
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Massive buying came in. Looking for longs. Shorts are over for me in 80 to 81 area. After A down confirmation and within macro bearish trend when price comes back upto ORH ( 80.90 area), there is a short on failed C up set up but i passed on the set up.


Damn 90 ticks pullback on failed C up and counting. I need to have my head examined for not taking Failed C up set up. Be careful with longs off double/triple bottoms- this has potential to get UGLY. Please give a flush down. It will be lot easier to see if longs makes sense. Otherwise it's a roll of the dice to try longs.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Damn 90 ticks pullback on failed C up and counting. I need to have my head examined for not taking Failed C up set up. Be careful with longs off double/triple bottoms- this has potential to get UGLY. Please give a flush down. It will be lot easier to see if longs makes sense. Otherwise it's a roll of the dice.

Won't get fooled again.




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
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I left out for Appointment at Lunch...just arrive back to see what happened....shoot...

I went Flat after the first trade i made this morning when CL broke below ORL....also had some distractions here at the house while trying to focus on trade set ups, and finally just observed till i left for Appointment.
By January i will be in a Professional Setting/Environment ...as this will be my Full time Income.
This way i can Hopefully Focus on the Chart set ups without distractions.

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 mfbreakout 
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I left out for Appointment at Lunch...just arrive back to see what happened....shoot...

Basically traders who try to pick bottoms based off double bottoms etc. got busted.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Long ZS.


I was in a rush and ignored ACD rules and had to come back to basics.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Holding shorts into Globex session.

1) TF short 1168 area.

2) CL short 79.95 area. Will add to short into bounces.

3) NG short 3.30 area

4) Aussie $ from .8713 area.

5) OJ (Orange juice) from 134.50 area.

6) Short PL from 1259 area since last week.

Was short in GC from 1129 area but no go. Basically Scratch.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Q) What is your primary trading chart? 1 minute , 5 minute etc..

A) This is one area where i wasted lot of time. I traded mostly off 1 and 5 minutes chart. I finally realized for me whether it's a 5 minute chart or 15 minutes etc is immaterial. For every trading instruement i want an instruement to travel certain distance before i take a trade. Distance traveled is based off ATR. For example, for Crude over last 5 weeks 96% of my trades have been from the short side. Let's assume at the start of NY session price of CL is at 80. Globex low is 79.50. For me to short CL, she has to run up a minimum of 100 ticks to short. I am not looking at 5 minutes or 1 minutes candles. I am looking at area where i need to take a trade. Since, one has to look at something, i mostly look at 5 minutes charts just for visual purposes. Till price gets to an area where i have interest, anything in between has no value for me.



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 mfbreakout 
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Where will Crude gets flushed down to? Looks like 75.84 is low for euro session.



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 Rocktrader2 
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mfbreakout View Post
Basically traders who try to pick bottoms based off double bottoms etc. got busted.

LoL this pic also help to get busted.

I am new trader & join here to learn and share my view. just see your post interesting. How is going on your trading?

 
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 mfbreakout 
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Trade #1. Got stopped out 76.50 area and long on Flush down. Out 76.98 area. Gave 10 minutes to see if 77.50 area gets tested but no go. Nothing magical about 77.50, i am just using low of 75.84 and adding some ticks to it to expand the range. Higher bounce makes it easier to short. CL back to 130 ticks rotation range



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 mfbreakout 
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ATR set up says that short may have a chance. Trade #2.



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 mfbreakout 
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I was talking with someone who asked me how can he transfer his results from SIM trading into LIVE trading? he told me he is quite relaxed during SIM trading. The reason he is relaxed because he is using

1) Wide stop loss to stay from noise.
2) he does not mind position going against him as long he is trading with the trend.

I asked why he can not do the same during LIVE trading? His answer " He can not afford wide stop loss". I told him to either quit trading or practice in SIM ONLY what he can replicate during LIVE trading. there is no point oing one thing in SIM and something else during LIVE trading. The problem is he is not relaxed even in SIM mode with Mikey Mouse trades. I think he is close to getting it.



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 mfbreakout 
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NG short not looking good. One can not be just focused on one trade. Waiting for a flush up to add to short. So called pain has a tendency to clear my mind more than gains.



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 sandptrader 
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Thought this may be Relevant to where we are with 6A...Looks set up for another SHORT.

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 mfbreakout 
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Holding shorts into Globex session.

1) TF short 1168 area.

2) CL short 79.95 area. Will add to short into bounces.

3) NG short 3.30 area

4) Aussie $ from .8713 area.

5) OJ (Orange juice) from 134.50 area.

6) Short PL from 1259 area since last week.

Was short in GC from 1129 area but no go. Basically Scratch.


#1, #2, #4 ( added to short) , #5 neither here or there and #6 working. If a trader has aspirations to trade/manage a portfolio of positions, one can not MESS around.



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 sandptrader 
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I Believe #5 is Ready to Drop out....the Only Factor to be aware of is if we get a Cold snap down here in Florida.
That will cause a Scare and OJ could Rally to the upside on Freeze concerns.
But Technically on the Daily if we Break below 132.50 level...it should head toward 115.
I just keep the Freeze Concern in mind.,,,,you Never know about this time of the year on that Concern.

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 sandptrader 
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Reference Points ...i am going to say ORL 76.87...ORH at 77.67 ..which is London High....watching.

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 sandptrader 
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Just wanted to post my Entry Yesterday before Open....i Scalped this...what i Ignorant/Impatient Individual i am......
I am Mentally Not able to take Advantage of what the Bigger Picture is Showing me.
I have to try and take Advantage of this.....working on this Mentally.
That is why i am sitting in here on mfbreakout's journal, as He is doing Very Good at holding . or Capitalizing on the Larger moves.

I have No problem Analyzing , and Taking some of the move of a Good set up....But i do take Profits way to early a lot of times.

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 mfbreakout 
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sandptrader View Post
Just wanted to post my Entry Yesterday before Open....i Scalped this...what i Ignorant/Impatient Individual i am......
I am Mentally Not able to take Advantage of what the Bigger Picture is Showing me.
I have to try and take Advantage of this.....working on this Mentally.
That is why i am sitting in here on mfbreakout's journal, as He is doing Very Good at holding . or Capitalizing on the Larger moves.

I have No problem Analyzing , and Taking some of the move of a Good set up....But i do take Profits way to early a lot of times.


It will come in steps as you get ATR feel for different instruements. Also, each instruement has different time slots when they move vs other time frame. For example, 8.30 to 9.30 am time frame vs 11.30 to 12.30 time frame and so on.



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 mfbreakout 
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I know Zakk was on this ONE. If not NO SOUP for him today.



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 sandptrader 
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Price level at .8686 Needs to be broken through...other wise we will call it Support and move Higher back to yesterday's ORL.

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 Drd13 
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Good Morning,

What are the lines at 79.09 and 76.19 on your oil chart?

Thanks

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 mfbreakout 
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Price level at .8686 Needs to be broken through...other wise we will call it Support and move Higher back to yesterday's ORL.

Support for what? I mean each so called support needs to have a target and time frame. Will like to hear how you use it.

I do not believe in precise support levels. Time frame and support/resisatnce for me is based off daily ATR , daily/weekly/hourly ATR and trend etc.

Thx



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 mfbreakout 
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Drd13 View Post
Good Morning,

What are the lines at 79.09 and 76.19 on your oil chart?

Thanks

David,

For these kind of questions, PM relevant trader. Contextual questions which other traders can benefit from, post them here. But what is the indicator, what is the price etc. it's best to use PM feature.

Thx



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 sandptrader 
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mfbreakout View Post
Support for what? I mean each so called support needs to have a target and time frame. Will like to hear how you use it.

I do not believe in precise support levels. Time frame and support/resisatnce for me is based off daily ATR , daily/weekly/hourly ATR and trend etc.

Thx

Your Right.....i will just Post what i am looking at with 2 Charts.....i know Everyone does Not look at same things.

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 mfbreakout 
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sandptrader View Post
Your Right.....i will just Post what i am looking at with 2 Charts.....i know Everyone does Not look at same things.

Nice. One way i try to put some value in an area for support/resistance, for example for CL if price moves 100 ticks from that area. What will be criteria for 6A support. I have only traded it once so far, so trying to get better feel.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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What happened to CL yesterday and has been happening for weeks has implications for other assets, for example on equity market. That was the reason for my short in TF around 1168 yesterday which i held overnight. Covered some during Euro session and added to short around 1169 area again this morning. Also liquation in ZS etc is just not a function of technical analysis. Money needs to be moved around, hedges needs to be taken off, new one need to be put on, margin calls etc. It's a JUNGLE out there.



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