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Game Plan


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Game Plan

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  #101 (permalink)
san diego california
 
 
Posts: 16 since Jul 2015
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when you look at the tape , do you consider who is in control at that point ?

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  #102 (permalink)
newport coast, california
 
 
Posts: 48 since Aug 2015
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traderkcrq View Post
when you look at the tape , do you consider who is in control at that point ?

Absolutely. There is an old adage of the mean reversion. So the 50% of the tape is my bias level. Another good tape example. More buyers just walked in @1950.50 if on Monday 1950.50 is not able to hold the price. Then the price should retest 1945.00, 1943.00 since that is where earlier buyers came from. And the lower levels would be @ 1937.75 and 1932.50

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  #103 (permalink)
san diego california
 
 
Posts: 16 since Jul 2015
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so let me ask you this , what do you think will improve your entry
i trade volume profile with the tape and some market internals
maybe adding indication such as market internal can help you refine your entry

BTW how you guys taking the hot days in Newport its very hot here in SD

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  #104 (permalink)
newport coast, california
 
 
Posts: 48 since Aug 2015
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traderkcrq View Post
so let me ask you this , what do you think will improve your entry
i trade volume profile with the tape and some market internals
maybe adding indication such as market internal can help you refine your entry

BTW how you guys taking the hot days in Newport its very hot here in SD


Was thinking today to have a 30min trigger entry or maybe even a 20min tape. Will have to dance with that idea over the weekend. The net volume indicator does read the contracts very nicely. Maybe on the smaller time frame would pin point better trigger.

It's a tropical thunder over here we have had a 100 degree weather this whole week! Very nice. Good solid arthritis weather.

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  #105 (permalink)
san diego california
 
 
Posts: 16 since Jul 2015
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i think you should refine your entries
a VERY good resource will be Jigsaw trading they got hours of free education about reading the tape
i think this will help you refine your entry

as i see it you can utilize the orderflow with your system

Free Tape Reading and Order Flow Training Materials

hope this help

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  #106 (permalink)
newport coast, california
 
 
Posts: 48 since Aug 2015
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traderkcrq View Post
i think you should refine your entries
a VERY good resource will be Jigsaw trading they got hours of free education about reading the tape
i think this will help you refine your entry

as i see it you can utilize the orderflow with your system

Free Tape Reading and Order Flow Training Materials

hope this help

Thank you. I will place it on my to do list

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  #107 (permalink)
Site Moderator
Portland, Oregon
 
Experience: Intermediate
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Trading: GBU-39
 
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Posts: 6,169 since Sep 2013
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blackberry View Post
Absolutely. There is an old adage of the mean reversion. So the 50% of the tape is my bias level. Another good tape example. More buyers just walked in @1950.50 if on Monday 1950.50 is not able to hold the price. Then the price should retest 1945.00, 1943.00 since that is where earlier buyers came from. And the lower levels would be @ 1937.75 and 1932.50

Why do you take pictures of your screen and not a screenshot?

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  #108 (permalink)
newport coast, california
 
 
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tturner86 View Post
Why do you take pictures of your screen and not a screenshot?

I don't know how to screen shot, and so I take pictures. Why does it matter?

Point taken. It becomes a lot easier for a reader to see the chart. Thank you. Will place it on my to do list.

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  #109 (permalink)
Site Moderator
Portland, Oregon
 
Experience: Intermediate
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blackberry View Post
I don't know how to screen shot, and so I take pictures. Why does it matter?

Point taken. It becomes a lot easier for a reader to see the chart. Thank you. Will place it on my to do list.

Push the prt sc button on your keyboard, open up MS Paint or any image software and click paste.

Angle, glare, and other factors make it hard to determine what you are trying to show in your images.

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  #110 (permalink)
Market Wizard
Quebec
 
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blackberry View Post
I don't know how to screen shot, and so I take pictures. Why does it matter?

Point taken. It becomes a lot easier for a reader to see the chart. Thank you. Will place it on my to do list.

Lightshot ? screenshot tool for Mac & Win

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  #111 (permalink)
Murrells Inlet SC
 
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blackberry View Post
I don't know how to screen shot, and so I take pictures. Why does it matter?

Point taken. It becomes a lot easier for a reader to see the chart. Thank you. Will place it on my to do list.

Snaggit is the bomb- cost $20 I think- easy annotations and clear shots, resizing, etc. If you take 5 minutes to set it up properly it makes adding pictures to posts a breeze and makes a well organized library( I have mine set to auto label and time stamp my pics by symbol- all I do is choose the symbol profile when I take a snip and hit finish profile- takes 10 seconds to take screenshot and post to futures.io (formerly BMT))

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  #112 (permalink)
Kansas City, MO U.S.
 
 
Posts: 211 since Mar 2015
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blackberry View Post
Who r you to judge me? Your opinion is duly noted. But I guess your $60K per month is giving you a god syndrome. I'm very happy that your trading journey brought you to that place. But that does not give you any right what so ever to cut down everyone that goes against your learning curve. What is this place then? A traders meet up organized by a fellow trader called a big Mike? Or the church of big Mike?? Your trading system is yours and yours alone. And I'm not interested in how you clear $60K per month. Otherwise I'd be the first in line asking questions. And you ought to be wise enough to recognize when to stop giving people your opinion. You telling me what to do with my money is out of place. Remember, you wrote earlier how you are loosing money when you have to waste your time on a tiny stupid thread such as this. Then pretty please bugger off to your own thread and preach to those that want to hear the trading god big Mike speak! Your conduct of a gentleman that created a very nice trading forum is unbecoming of who you are as an individual. I have a right to choose my pain in learning how to trade. Who are you to take that away from me?

He's right though. Just by this response, you lack the psychology necessary to be successful in the way you're going about this. Using that much leverage with that little money is just going to be margin call after margin call until you get tired of adding money. Yeah, it's possible you get lucky and have an outsized winner. But because of how little you're working with you still won't be able to add size, or hold the trade as long as you should, because you'll always be nervous at how small your account is. This is what everyone has been telling you through this whole thread. You're fighting a beast that is pretty much impossible. I have some decent experience trading futures with live fills and tracking my progess, and I'm no pro, but even if I were a pro I don't think I would be playing with such a small account size. I would be looking for mentorship and keeping records to show to anyone who may be willing to stake me. I would probably be trading something else with my cash, small caps or micro forex, and stick to that instead of immediately jump into a ring where I'm going to get my ass kicked. If you can't understand this, why post about it and keep voicing opposition? The market is always right. It's like you just want attention and a rush. Trading is supposed to be boring. So boring you have to sit there with a cup of coffee and a book just to stay awake. Not heart-pounding-from-chest "OH MY GOD I'M EXPOSED! CLOSE IT! CLOSE IT!" It's not just about knowing when to buy or sell, it's about being at peace enough that you don't question yourself and stick to your plan and trade what you see.

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  #113 (permalink)
Murrells Inlet SC
 
Experience: Advanced
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Trading: ES, CL, ETFs
 
Inletcap's Avatar
 
Posts: 9,158 since Dec 2012
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DrewDown View Post
He's right though. Just by this response, you lack the psychology necessary to be successful in the way you're going about this. Using that much leverage with that little money is just going to be margin call after margin call until you get tired of adding money. Yeah, it's possible you get lucky and have an outsized winner. But because of how little you're working with you still won't be able to add size, or hold the trade as long as you should, because you'll always be nervous at how small your account is. This is what everyone has been telling you through this whole thread. You're fighting a beast that is pretty much impossible. I have some decent experience trading futures with live fills and tracking my progess, and I'm no pro, but even if I were a pro I don't think I would be playing with such a small account size. I would be looking for mentorship and keeping records to show to anyone who may be willing to stake me. I would probably be trading something else with my cash, small caps or micro forex, and stick to that instead of immediately jump into a ring where I'm going to get my ass kicked. If you can't understand this, why post about it and keep voicing opposition? The market is always right. It's like you just want attention and a rush. Trading is supposed to be boring. So boring you have to sit there with a cup of coffee and a book just to stay awake. Not heart-pounding-from-chest "OH MY GOD I'M EXPOSED! CLOSE IT! CLOSE IT!" It's not just about knowing when to buy or sell, it's about being at peace enough that you don't question yourself and stick to your plan and trade what you see.

Great words @DrewDown... You are correct- trading is supposed to be boring. I personally suck on trend days (especially the slow grind up ones) because I want to be doing something. My best days occur when I'm busy with other things and am just glancing at a chart every so often to see that progress is being made- It certainly wasn't like that when I first started though.. Hell, I'd buy near the bottom tick and sell just because I couldn't believe my entry was so good I felt something was going to go wrong I love how we have all had our own personal journey yet anyone who is honest admits we all ended up doing/feeling the same things.

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