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TF day trading

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  #1181 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
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greenr View Post
Can completely appreciate that, i understand from watching yours and Horst vids that you the method is find a trend use using fib retracements and extension with pure price action ect

could you go into more detail about the MACDBB indicator and how you using it, it looks like a MCAD indicator showing over sold/over bought, are you playing attention to the expansion of the DOTS (BANDS)? The Direction of the MACADBB and if its above or below the ZERO line ect?

are you watching for divergence and convergence patters?

Many thanks BLUEMELE

You know, this is a good question. It would be probably good practice, but not sure I have time at the moment.

This is what I look for (without pic's to back it up):

Area (Fib Retracement/Extension/Price Action S&R)
MACDBB
Bar Setup or more Price Action

MACDBB

I look for an exhaustion move which to me is when the dots are spread out AND at a point of S&R off the bands. It is hard to explain without pic's, but what you do is wait for a big move and go for the fade back.

The MACDBB is just the 12/26 MA's, with a standard deviation BB telling you what the volitility has been or is... I like BB Squeezes as well as continuations off the BBand for the MACD.

When I get time I will post some shots if you are still interested, but you can see them in the vids also. I sometimes highlight them, but my videos are so long it probably isn't worth watching them to find those.... haha...

On my next vids I will highlight more of what I look for as it is really good for me while I trade anyways.

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  #1182 (permalink)
 greenr 
london/england
 
Experience: Advanced
Platform: Sierra charts, NinjaTrader, VK Trader
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bluemele View Post
You know, this is a good question. It would be probably good practice, but not sure I have time at the moment.

This is what I look for (without pic's to back it up):

Area (Fib Retracement/Extension/Price Action S&R)
MACDBB
Bar Setup or more Price Action

MACDBB

I look for an exhaustion move which to me is when the dots are spread out AND at a point of S&R off the bands. It is hard to explain without pic's, but what you do is wait for a big move and go for the fade back.

The MACDBB is just the 12/26 MA's, with a standard deviation BB telling you what the volitility has been or is... I like BB Squeezes as well as continuations off the BBand for the MACD.

When I get time I will post some shots if you are still interested, but you can see them in the vids also. I sometimes highlight them, but my videos are so long it probably isn't worth watching them to find those.... haha...

On my next vids I will highlight more of what I look for as it is really good for me while I trade anyways.

Got you

yes that would be great of you could post some screen shots ect if you get time, always willing to learn new angles

Another question is why you are just focusing on TF? Obviously itís always best to try stay focused on one instrument but just curious why you chose TF?

When do you think you will be back on a live account too?

I never use to look at or believe in using FIB levels ect, but with what i have speculated lately is they can be a very powerful tool if you know how to use them correctly, do you think that because FIB levels exits. There is a self for fulfilling prophecy that they will work with the majority of the herd using them

Are you looking at Floor levels and daily pivots as well

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  #1183 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
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greenr View Post
Got you

yes that would be great of you could post some screen shots ect if you get time, always willing to learn new angles

Another question is why you are just focusing on TF? Obviously it’s always best to try stay focused on one instrument but just curious why you chose TF?

When do you think you will be back on a live account too?

I never use to look at or believe in using FIB levels ect, but with what i have speculated lately is they can be a very powerful tool if you know how to use them correctly, do you think that because FIB levels exits. There is a self for fulfilling prophecy that they will work with the majority of the herd using them

Are you looking at Floor levels and daily pivots as well

Thanks.

Today I didn't really explain much in my video so please ignore.

Fib's are great, but a matter of when to use them etc.. Seems like 76 on the TF works pretty well.

I like TF as it trends well or better than ES, good volume etc.. 6E would probably be equiv but it usually doesn't move as much. CL is great, but can be challenging.

Oh, don't look @ PP or any of that. My stops are just too small....

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  #1184 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
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I did not do as planned today and still having hurdles when it comes to changing the way I am trading. Had I traded my old style I would have done well today, but growing I believe...

My focus is to change my style of trading to the following:

1. Go only in the direction of where the larger move will go.

2. Hold your TP and Stops.

3. Go with the trend and go for continuations.

Now, it is difficult due to pullbacks and small stops, so I am doing my best to continue learning and growing and imperfecting.

Video


Here is a video of someone who managed and did a lot better than I did today. Julia is a good person and trader:

Julia Trades TF Jan 17 2012 tyD - YouTube

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  #1185 (permalink)
 greenr 
london/england
 
Experience: Advanced
Platform: Sierra charts, NinjaTrader, VK Trader
Broker: CQG, AMP, VK, Kinetick
Trading: CL/6E/TF/ES
 
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bluemele View Post
I did not do as planned today and still having hurdles when it comes to changing the way I am trading. Had I traded my old style I would have done well today, but growing I believe...

My focus is to change my style of trading to the following:

1. Go only in the direction of where the larger move will go.

2. Hold your TP and Stops.

3. Go with the trend and go for continuations.

Now, it is difficult due to pullbacks and small stops, so I am doing my best to continue learning and growing and imperfecting.

Video


Here is a video of someone who managed and did a lot better than I did today. Julia is a good person and trader:

Julia Trades TF Jan 17 2012 tyD - YouTube

I see what your trying to do, but you seem to over trade allot lol if you donít mind me saying. Is this part of you tactics? use a very small stop and try catch a big move...?

Why are you focusing more on price action than the MACDBB`s indications?

Do you not believe that it is an alignment of time frames, indicators and price action before execution

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  #1186 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
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greenr View Post
I see what your trying to do, but you seem to over trade allot lol if you donít mind me saying. Is this part of you tactics? use a very small stop and try catch a big move...?

Why are you focusing more on price action than the MACDBB`s indications?

Do you not believe that it is an alignment of time frames, indicators and price action before execution

Good questions that I don't have an answer for...

I do overtrade and something I go through in stages. Yesterday was an extreme day and not something to gauge off of...

Took too many trades today again.. I seem to go through phases...all 3 should match up, but I take imperfect entries all too often...

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  #1187 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
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Picked the proper direction AGAIN!

Didn't keep my stop in place and didn't hold my profit target. Need to do more EFT's and 'let go'.

Took a last minute trade as it looked sweet, but thought there would be a bigger drop.


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  #1188 (permalink)
 toulouse-lautrec 
Europe
 
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bluemele View Post
Picked the proper direction AGAIN!

Didn't keep my stop in place and didn't hold my profit target. Need to do more EFT's and 'let go'.

Took a last minute trade as it looked sweet, but thought there would be a bigger drop.

i looked briefly at the first half of your video.
just two quick observations:
- when you opened your second trade (the first one was very short lived) you moved the stop to -3 ticks once price started to move in your favor. you eventually got stopped out.
For me, a stop order is always an emergency measure - i don't want price to hit it under normal circumstances. My recommendation would be either to be more agressive (2 cars maybe, setting one off at the first logical S/R point) or moving the stop to BE / + x ticks .... but getting stopped out with -3 ticks does not make sense to me in this situation ( i hope you don't take this personally)
In fact if you look at your longer time frames they were still not really ripe for an upmove at those points where you placed your first trades.
- secondly, you are closing your trades to early (sorry i didn't listen much to your audio comments i'm sure you were explaining it) but it seemed as you were basing your decision on the shorter time frame indications. The macdbb on the longer time frames were still strong in favor to the upside.

i hope this doesn't sound too harsh, in no way i am trying to sound like mr. smart master trader.... and i have not been a student of Henry's so i'm probbaly missing quite a few things about the method.. and again i only looked at half of the video and used fast forward quite a bit (shame on me)
actually i find the TF awfully hard to trade at times as it can be quite jumpy.

hats off to your discipline of getting up early for trading! i know i could not do it.

Looking forward to your next video

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  #1189 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
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toulouse-lautrec View Post
i looked briefly at the first half of your video.
just two quick observations:
- when you opened your second trade (the first one was very short lived) you moved the stop to -3 ticks once price started to move in your favor. you eventually got stopped out.
For me, a stop order is always an emergency measure - i don't want price to hit it under normal circumstances. My recommendation would be either to be more agressive (2 cars maybe, setting one off at the first logical S/R point) or moving the stop to BE / + x ticks .... but getting stopped out with -3 ticks does not make sense to me in this situation ( i hope you don't take this personally)
In fact if you look at your longer time frames they were still not really ripe for an upmove at those points where you placed your first trades.
- secondly, you are closing your trades to early (sorry i didn't listen much to your audio comments i'm sure you were explaining it) but it seemed as you were basing your decision on the shorter time frame indications. The macdbb on the longer time frames were still strong in favor to the upside.

i hope this doesn't sound too harsh, in no way i am trying to sound like mr. smart master trader.... and i have not been a student of Henry's so i'm probbaly missing quite a few things about the method.. and again i only looked at half of the video and used fast forward quite a bit (shame on me)
actually i find the TF awfully hard to trade at times as it can be quite jumpy.

hats off to your discipline of getting up early for trading! i know i could not do it.

Looking forward to your next video

You said exactly what I said to myself after I was done.

I am moving my stops again, and you are right on.

As far as multiple contracts, not right now. That is how I learned, but it doesn't work for me at this point and until I see the value I will continue down this path.

I did close my trades too early.

If you review my trading for the last 2 years using this system:

1. Moving my stops to BE too soon.

2. Exiting trades before they had a chance to really work.

I am working on it, conscious of it and promise myself that I will overcome it.

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  #1190 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
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Wow, what a slow moving day! I could not get in-sync!

I did good staying out of the market until I was getting ready to wrap it up and voila, I clicked.....

then I clicked...

then I clicked...

then I scalped....

then I scalped....

Too slow, didn't take the trades at the pivots that I marked, but was waiting for perfect picture! Never had it until the last trade of the day and by then I was exhausted and tired of watching it crawl along.... I hope we get some velocity soon or I might have to switch to CL.

I am looking for it to go up a bit, but I thought it was coming down to a confluence area first.

Video


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