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TF day trading

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  #511 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
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Ok, still green.

Things that I did good today:

1. Took few trades (2).

2. Waited, didn't get in right away!

3. Read the up/down a bit better, focused on areas.

4. Waited for double confirmation on short trade.

5. I was focused on the long term.

Things that I did poorly today:

1. Exited way too soon as I saw too much congestion and support. I figured it wasn't the best area, so I needed a better area. This cost me about 800.00 at least!

I am happy with today's trading though. My impatience seems to be slipping away.

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  #512 (permalink)
ronbary
Israel
 
 
Posts: 11 since Jan 2011
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Hi Blue ,


i 'm trading also with your method and add some market flow analysis from my experiance
together we might improve the plan to this system
so some points for tought after i read what Horst wrote to you


he wrote to you :

" If you don't see a 2.5 point plus potential.....wait for it. You have Keltners on your chart for a reason. One end to the other....remember? Revisit your macdbb bulges/separations, and ingrain each of the time frames point potential by their timeframe/separations worth. eg. bulge on the 377 is worth how many points? 610? 1597? "


i think he giving very good hints how to use this system and trade for the points and not for couple of
ticks .

1. How you can see if potential trade can go for 2.5 points or more ( using the 1597 , 987 charts ? ) what to look for ? can you explain what you look for ?

2. how you have to use the Keltner channel potential , if price hit the lower band or upper band then if you take reversal trade the potential move can be the other side of the keltner channel ? can see that rule correct ?

3. what he means by "bulge on the 377 " what is bulge ? and do you have a statistic amount of the pattern on each timeframe like if you have bulge on 1597 how many points it might move ? can you explian ?


i'm just trying to share what i was thinking , this is a process until you have all things come together

Trade well

Regards


Ron

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  #513 (permalink)
 bluemele 
Honolulu, Hawaii
 
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I broke up today in 2 separate days. The first session I was down 1.3 points on the first trades.

I decided to step out, speed up the market to a point later and start again as I was running out of time this morning.

I traded longer than I wanted to, but so goes life. I feel my confidence is back and I am happy with my trading at the moment getting ever so better. On my last trade, I still chickened out and didn't exit at my target.

I saw the 1597 at support and upper rail so I thought it could bounce, so I figured I would take my points. It barely retraced, so it was fear again that took me out of a few more good trends.

The market opened a bit squirrelly in my opinion, so I had a hard time finding a good entry.

Trades:

1-3: Got eaten up a bit on a 38% and 50% retracement. Not an AREA!!! It looked good in MACD's though and I thought I could get 2 points.

4-6: Got eaten up some on the 76% retracement. Got a nice trade finally and got in and took 3 points.

Happy with my trading, but first few trades were a bit 'rushed' and I could have waited for my better areas.

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  #514 (permalink)
 bluemele 
Honolulu, Hawaii
 
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ronbary View Post
i 'm trading also with your method and add some market flow analysis from my experiance
together we might improve the plan to this system
so some points for tought after i read what Horst wrote to you


he wrote to you :

" If you don't see a 2.5 point plus potential.....wait for it. You have Keltners on your chart for a reason. One end to the other....remember? Revisit your macdbb bulges/separations, and ingrain each of the time frames point potential by their timeframe/separations worth. eg. bulge on the 377 is worth how many points? 610? 1597? "


i think he giving very good hints how to use this system and trade for the points and not for couple of
ticks .

1. How you can see if potential trade can go for 2.5 points or more ( using the 1597 , 987 charts ? ) what to look for ? can you explain what you look for ?

2. how you have to use the Keltner channel potential , if price hit the lower band or upper band then if you take reversal trade the potential move can be the other side of the keltner channel ? can see that rule correct ?

3. what he means by "bulge on the 377 " what is bulge ? and do you have a statistic amount of the pattern on each timeframe like if you have bulge on 1597 how many points it might move ? can you explian ?


i'm just trying to share what i was thinking , this is a process until you have all things come together

Ron,

Good points. Firstly, this isn't only MY method because someone else showed it to me, so I can't claim credit for it. I think Henry from New Futures deserves most of the credit, but so do his students etc..

1.
A. You need an area.
B. You need the MACD's to look juicy (large separation coming from top) or an over-extended move.
C. You need bar setup and/or other areas, confluence, etc..

The longer the timeframe w/ the separation and the more MACD's that look over-extended = the longer run. However, you will find sometimes that it will not equate perfectly and then you 'lose confidence. Like in February when the market just went on a tear tear tear, then you will find yourself losing a lot unless you adjust.

2. Keltner channel is good in that typically if other areas match up it is great for finding confluence. However, the challenge is that you will find sometimes it means very little and really just a range to monitor.

3. Bulge, it is way above, or way below the upper/lower band respectively. It is like a slingshot and will send it back to the other side quite quickly. Just a pattern to be aware of and if you do Historicals, you will see this. Especially when mutiple timeframes line up!

Minimums to look for with good bulges
144 = 1 pt. or less/more
233 = 1.5 pt or less/more
377 = 2.0 pt or less/more
610 = 3.0 pt or less/more
987 = 4.0 pt or less/more
1597 = 5.0 pt or less/more
4181 = 10.0 pt. or less/more

These are contingent upon market conditions as well as not always valid of course and just estimates. I think what is more important is understanding what has happened to price and why the 12/26 have moves so far apart and what it means when it is continuing to consolidate while price has not changed etc...

I would be interested to see what you have been doing.


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  #515 (permalink)
ronbary
Israel
 
 
Posts: 11 since Jan 2011
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Hi Blue ,

thanks for your reply

Sure i want to show you what i'm doing

what is your Email ?

can you contact me using email : [email protected] , or skype

my skypeid : technicator from Israel

Ron

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  #516 (permalink)
 DCFX 
USA
 
 
Posts: 7 since Jul 2010

Thats an interesting correlation- between macdbb bulges and number of points... thanks for posting that!

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  #517 (permalink)
 bluemele 
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DCFX View Post
Thats an interesting correlation- between macdbb bulges and number of points... thanks for posting that!

In my opinion, that is the true value of this system more so than others. Everyone else just seems to guess.

Of course, Fib's are a big identifier of location and distance.

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  #518 (permalink)
 DCFX 
USA
 
 
Posts: 7 since Jul 2010

blue- in Horst's journal, he said that he uses an 8-monitor setup... do you use the same? If not, what's the standard screen setup for this method?

great job with your journal, by the way!

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  #519 (permalink)
 bluemele 
Honolulu, Hawaii
 
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DCFX View Post
blue- in Horst's journal, he said that he uses an 8-monitor setup... do you use the same? If not, what's the standard screen setup for this method?

great job with your journal, by the way!

Thanks!

2 screens for me.

Horst watches like 4-5 different markets. I have tried that, but it is too hard for me at the moment as I need to focus on 1 for now.

2 screens is plenty for me!

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  #520 (permalink)
 bluemele 
Honolulu, Hawaii
 
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Posts: 2,547 since Jun 2010
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Ok, reached my daily stop limit for the day in 6 trades.

I took 3, then took a break, and another 3. I am OK with this for now as I wasn't pushing my 3 trades and have calmed down some.

I was having a tough time today seeing the action, but the main thing today is that I could have chosen to stop, but I didn't. Cost me another 7 ticks.

Trades:

1-3: Had some decent setups and was only looking for 2 points. Got chopped up some and I thought I had some decent areas.

4-6: Had some bigger areas on the long term charts, but those can be a point of area where I will get stopped out which is what happened.

I said to myself, the market is going up today, but the key thing I struggled with was going against the 4181 separation and then the 1597?

Gosh, pretty much a terrible day, but not bad if this is as bad as it gets!

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