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COMMON SENSE
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COMMON SENSE

  #591 (permalink)
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How bigger time frame traders take away all the goodies in ONE day. They seem to show up when macro trend underway gets out of line and they are happy to put CL back within 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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  #592 (permalink)
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ONLY shorts in TF all day. On every bounce. TF have been weakest of major idicies and shorts have pretty good odds of having an upper hand on most days.

Testing a new set up in TF. Set up is to hold shorts into Globex when close is so weak. Cover most 1096 area and stop loss on rest 1102.



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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  #593 (permalink)
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Great work


This is a phenomenal thread thanks again for everything you do for the community MFB.

Can I ask if you don't mind, what do you use to define your trend? Would it be 2 yellow and one pink EMA or something different?

I'm just curious as you've mentioned how it can pull back 120 ticks but the trend is still down etc, maybe its just HH and HL on a longer term.


Last edited by cmmichaels; October 1st, 2014 at 07:43 AM.
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  #594 (permalink)
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Trend

May not be my place to answer.......But MFB will just simply look at a longer time frame ( daily and weekly) to get the overall trend of a market.

This is kinda of test for myself.

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Bsinks View Post
May not be my place to answer.......But MFB will just simply look at a longer time frame ( daily and weekly) to get the overall trend of a market.

This is kinda of test for myself.

Thanks for the reply I thought it may be that... I know its not some special sauce just curious.

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  #596 (permalink)
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cmmichaels View Post
This is a phenomenal thread thanks again for everything you do for the community MFB.

Can I ask if you don't mind, what do you use to define your trend? Would it be 2 yellow and one pink EMA or something different?

I'm just curious as you've mentioned how it can pull back 120 ticks but the trend is still down etc, maybe its just HH and HL on a longer term.

It's helpful to first look at big picture with weekly and daily chart. No lines on it. Just chart. I was using 21 EMA for some time on smaller time frame like 5 and 15 minutes to get some sense on a shorter time frame, Now, i am testing 2 EMA's .Both 30 EMA's. One shows high of 30 ema and the other shows low of 30 EMA. Damon Pavlatos did a webinar at futures.io (formerly BMT) couple of weeks ago. He uses them, so i am testing them.

However, any tool like MA, MACD etc comes after the context. Context first everything latter to just feel good or feel in control. Attached 2 charts, shows that a trader should be able to trade and know just by looking at them as to what is the trend. One does not need any tools to trade this chart. Tools just help with execution little bit better. Problem is that when a trader looks at weekly, daily chart for trend and then uses tools on a smaller time frame for execution- there is a conflict. ONLY way i know to tackle this is to keep Average True Range of an instruement in mind. If ATR for PL is 20 points and it's already down 20 points on the day, i am not shorting it. I have to wait for a bounce. How about longs? There are none. I have moved away from trading both sides intra day. For example, in this example of Platnium, if i try long, it will be for a SCALP. Since, i am trading 4-6 instruements every day, i do not have much time left for scalps. When i was just trading CL all day for 4 years, i used to do that. That was not good. I wish i was trading at least 2-3 instruements right from the start. There were more opportunities in PL over last 3 months than any other instruement but people talk about trading ES for 2 full points all day with lines on the chart that make it look like that they are solving a solution for WORLD PEACE.



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.
Attached Thumbnails
COMMON SENSE-2014-10-01_0646__weekly.png   COMMON SENSE-2014-10-01_0654_daily.png  

Last edited by mfbreakout; October 1st, 2014 at 08:23 AM.
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  #597 (permalink)
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CC- weekly bar has not closed yet but i am being cautious.



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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  #598 (permalink)
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Secret Sauce and it's free. Enjoy, Relax and let the trade work out.




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.
 
  #599 (permalink)
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Everyone can see why CL stopped around 91 area. My trading set ups do not call for longs and hold during Globex.
What's the next thing a trader can do? For me, ONLY question is where can i short? I am short 91.70, 91 area. I am not couting that CL will just stop at 91. I am trading probabilities and ranges. If massive short squueze or buying shows up before DOE report, i will step aside and wait for DOE report. If price moves up without conviction, will add to shorts.

We have DOE report today. CL will trade in a tight rnage till then. After 10.30, we will know if 90.80 area is low for this week and what will be high.



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.

Last edited by mfbreakout; October 1st, 2014 at 10:25 AM.
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  #600 (permalink)
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GOLD.



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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