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TF day trading

  #1311 (permalink)
Elite Member
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@bluemele

Take Care
ttys R

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  #1312 (permalink)
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bluemele View Post
Considering a couple weeks off finally. Kind of bored with the same old same old...

May not be on here for a bit.... Wish the best for all you guys (gals)...

I hope you can "get away" and enjoy a nice fun vacation where you can clear your mind. I am long overdue for one of those myself, so I am jealous!

Have fun!



Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
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  #1313 (permalink)
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Thanks guys! You da kine! (I do appreciate the kind words and comments)

Per Big Mike, yes you do...

Over and out... See you guys...

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  #1314 (permalink)
Site Administrator
Manta, Ecuador
 
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Congratulations on your journal!



In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

C) Were you initially reluctant to start this trading journal? If yes, why?

D) How do you feel, overall, about your journaling experience?

E) Would you recommend to others that they should also start a trading journal?

Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.

Enjoy your weekend,
Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #1315 (permalink)
Trading Apprentice
Chihuahua, Mexico
 
Futures Experience: Advanced
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Thanks: 25 given, 25 received

Identifying a pivoting market day vs a trending market day

Hello bluemele,

Have you or anyone using the NFT trading method found out how to identify when there is a pivoting market day or when there is a trending market day?

I think this is very important. The NFT method is a pivoting market method. It does not work when you have a trending market, and you can make several gifts to the market. You may have even clear and significant bearish divergence on 1597 macd, but the market still keeps pushing up and up following a higher time frame trend.

Of course, there are pullbacks, and may have entries on those pullbacks to go long, but then the macds do not give clear signals to have a long entry, but they keep giving false signals to go short and the market keeps going up.

This is key, otherwise using the NFT mehtod we can only trade on pivoting markets, but first we need to identify that there is a pivoting market and not a trending market.

We might think that if the market breaks the pre-market high, then there will be a long trending market, or if the market breaks the pre-market low, then there will be a short trending market. However, we all know that there can also be false breakouts, so breaking the high or low of the day is not enough to determine if we will have a trending market or a pivoting market, and in additon those trends will also come to an end, so how to know when those trends are alsoc coming to an end?

I´ll appreciate a lot anybody posting something about it.

Jorge

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  #1316 (permalink)
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jgomez74 View Post
Hello bluemele,

Have you or anyone using the NFT trading method found out how to identify when there is a pivoting market day or when there is a trending market day?

NFT vendor discussion threads:

https://futures.io/vendors-product-reviews/14045-nft-under-investigation-newfuturestrading-com.html

https://futures.io/vendors-product-reviews/8351-anyone-know-service-newfuturestrading-com.html

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #1317 (permalink)
Elite Member
london/england
 
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jgomez74 View Post
Hello bluemele,

Have you or anyone using the NFT trading method found out how to identify when there is a pivoting market day or when there is a trending market day?

I think this is very important. The NFT method is a pivoting market method. It does not work when you have a trending market, and you can make several gifts to the market. You may have even clear and significant bearish divergence on 1597 macd, but the market still keeps pushing up and up following a higher time frame trend.

Of course, there are pullbacks, and may have entries on those pullbacks to go long, but then the macds do not give clear signals to have a long entry, but they keep giving false signals to go short and the market keeps going up.

This is key, otherwise using the NFT mehtod we can only trade on pivoting markets, but first we need to identify that there is a pivoting market and not a trending market.

We might think that if the market breaks the pre-market high, then there will be a long trending market, or if the market breaks the pre-market low, then there will be a short trending market. However, we all know that there can also be false breakouts, so breaking the high or low of the day is not enough to determine if we will have a trending market or a pivoting market, and in additon those trends will also come to an end, so how to know when those trends are alsoc coming to an end?

I´ll appreciate a lot anybody posting something about it.

Jorge

Hey Jorge, ill do my best to make the above questions clear to you as i think bluemele has taken a vacation from trading

What you have to understand with any method, every day is different as such. One day you will get a sideways range bound day the next you will get a mega trending day

This is your job, to NOTICE and feel the market

Yes the indicators give you signals and yes the Fibs acs as pivots, but that’s all

It your job to be able to read the market, you cannot just rely on indicators and fibs or every one would be making money easy, reality is you have to be a experience trader to be able to know what to look for and what the market is trying to do

I don’t believe this is just a pivot trading method, in a trend you get retracements to the 50% and the 89% if this is a pivoting market why are we looking for retracements and follow through on different charts. You are using the Fib levels to MEASURE the moves in the markets on different scales

a AB=CD patters which is the 100% extension from a pull back is a trend continuation trade

Its your job to analysis ALL charts, get a big picture in your head. Decide were price is looking to go with the overall power of direction. Then you use the FIB`s with home plates and the indicators to line up for entries with minimal risk

Like i said one day is never the same as the next

You need to develop the skill to know whether we are looking at a range bound day were you can use pivots or if we’re looking at trending day were you will be looking to trade deep retracements in the direction of the overall trend and have the ability to recognise change quickly

You will never find a method that is as simple as it looks or sound, you need to develop the traders instinct and vision and be able to ignore what you brain is thinking but recognise what the markets is telling you and act on it

Also you will know when a trend is coming to a end and why because is will be a move completion on a larger charts. Its be in able to under stand why price has gone were is has gone and why it has stopped. Once you learn this skill you will under stand why price does what is done 99% of the time. I used to be the same....but now i know and understand why these markets move the way they do

You also need to under stand the correlation between the diffrent charts and how they work and line up. Just because yhe 1597 is not lining up with all the other charts. Does not mean there is not a trade set up or the markets is not doing what it is supposed it is saying it is goign to do. Read and under stand how the picture moves through the diffrent time frames

Every thing is correlated, just because they are not all correlation all time does not mean they are not working. Its understanding WHY........................................

Hope this helps

regards

Ryan


Last edited by greenr; April 22nd, 2012 at 07:02 AM.
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  #1318 (permalink)
Trading Apprentice
Chihuahua, Mexico
 
Futures Experience: Advanced
Platform: Ninja Trader and Sierra Chart
Favorite Futures: TF
 
Posts: 32 since Dec 2011
Thanks: 25 given, 25 received


greenr View Post
Hey Jorge, ill do my best to make the above questions clear to you as i think bluemele has taken a vacation from trading

What you have to understand with any method, every day is different as such. One day you will get a sideways range bound day the next you will get a mega trending day

This is your job, to NOTICE and feel the market

Yes the indicators give you signals and yes the Fibs acs as pivots, but that’s all

It your job to be able to read the market, you cannot just rely on indicators and fibs or every one would be making money easy, reality is you have to be a experience trader to be able to know what to look for and what the market is trying to do

I don’t believe this is just a pivot trading method, in a trend you get retracements to the 50% and the 89% if this is a pivoting market why are we looking for retracements and follow through on different charts. You are using the Fib levels to MEASURE the moves in the markets on different scales

a AB=CD patters which is the 100% extension from a pull back is a trend continuation trade

Its your job to analysis ALL charts, get a big picture in your head. Decide were price is looking to go with the overall power of direction. Then you use the FIB`s with home plates and the indicators to line up for entries with minimal risk

Like i said one day is never the same as the next

You need to develop the skill to know whether we are looking at a range bound day were you can use pivots or if we’re looking at trending day were you will be looking to trade deep retracements in the direction of the overall trend and have the ability to recognise change quickly

You will never find a method that is as simple as it looks or sound, you need to develop the traders instinct and vision and be able to ignore what you brain is thinking but recognise what the markets is telling you and act on it

Also you will know when a trend is coming to a end and why because is will be a move completion on a larger charts. Its be in able to under stand why price has gone were is has gone and why it has stopped. Once you learn this skill you will under stand why price does what is done 99% of the time. I used to be the same....but now i know and understand why these markets move the way they do

You also need to under stand the correlation between the diffrent charts and how they work and line up. Just because yhe 1597 is not lining up with all the other charts. Does not mean there is not a trade set up or the markets is not doing what it is supposed it is saying it is goign to do. Read and under stand how the picture moves through the diffrent time frames

Every thing is correlated, just because they are not all correlation all time does not mean they are not working. Its understanding WHY........................................

Hope this helps

regards

Ryan

Hello Ryan,

First of all, thank you very much for your post answering mine.

I know and understand that everyday is a different day, that sometimes you may have a pivoting market day or sometimes a trending market day. The issue here is how to identify which is which. You tell me that I need to notice that, that I need to get experience on this, but the quesion here is, how?

I know there´s no perfect system or method, but there´s alwas a a way or an indicator that can tell you wether the market is trending (with pullbacks) or moving into pivots, but in this method what can help us with that.

The NFT method taught us to wait for four aligned macds, this is from 144 to 610 to take an entry in counter-trend and to have a fib homeplate. However, when the market is trending you may have 5, 6 or 7 macds aligned telling you the market is about to change direction, but that does not happen. What I meant with the example of the 1597 macd, It was not that the 1597 was the only one alligned to change direction, but that all the other shorter macds are also alligned, but even with weakness in 1597 or even in 4181 telling you the market is about to change direction it results it does not change. I know that when this happens is because the market is following a higher time frame pattern, so the question here is how to identify which time frime is following.

You tell me about the AB=CD pattern or the bull or bear flags. You can do a measurement again let say in the 1597 time frame. The market reaches the 100% extension of a bull flag let say, you have 7 indicators alligned to change direction, but still the market keeps pushing more up. You can reach even the 200% extension of that bull flag and the market keeps moving up, so how to know if the market is trying to complete a pattern at the 1597 or 4181 or 6k or 10k or any timeframe. Even Henry did not know that and that´s why he had problems when he started trading the ES, becuase at that moment there was a sell off of the market.

We know that in any trend there are always pullbacks. But if there is a uptrend, the nft method gives you several signals to go short, because you have completed homeplates and there is correlation in more than 4 macds, but still the market keeps going up. On the other hand, if the market is uptrending, we should try to take a long not a short, but the method does not give you clear signals to take a long, it only gives you clear signals to go short, but that they are false. signals. Or even, you take a short because you see a possible pullback, the market indeed pullbacks, and suddenly the market changes direction again to keep on the uptrend, but not having even weakness at the 144 macd for you to cover that trade.

I think the NFT method is a very good method but for pivoting markets and even when you can have successful trades in a trending market those trades will go against the trend, instead of flowing with the trend.

Could you give me a hint on how to notice or feel if the market is following a trend and which one? What have you done to develop such skill. Is is true that when we are learning to use this method, we mainly focus our attention on the 144 chart, but then I understand that maybe we should focus our attention first in other time frame charts to find out the mood of the market for that day.

And as I said, when there is a trending market we should take trades on the trend of the market not against it and the method teaches us to take only trades agains the market.

thanks again and I hope we can keep giving feedback on this topic.

Jorge

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  #1319 (permalink)
Site Administrator
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Big Mike's Avatar
 
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Please take NFT discussion out of this journal.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #1320 (permalink)
Trading Apprentice
Chihuahua, Mexico
 
Futures Experience: Advanced
Platform: Ninja Trader and Sierra Chart
Favorite Futures: TF
 
Posts: 32 since Dec 2011
Thanks: 25 given, 25 received



Big Mike View Post
Please take NFT discussion out of this journal.

Mike

Ok, I´m sorry and I got it. I´ll post the posts into the "Anybody knows about this system thread"

Regards,

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