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TF day trading
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TF day trading

  #651 (permalink)
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houston
 
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Trading at the edge


bluemele View Post
Well, the strategy on 3 contracts is different then 1 for sure. I think 1 is sometimes easier and 3 is sometimes easier and it depends on the day I guess.

I think trading 1 contract is hard because like you said, I like to exit at the S/R point to lock in some profit, but maybe that is too much 'hunger' and 'fear'. The key for me is to define and understand a long term vision and make sure I get in on that trend.

I think my days of taking pivots are numbered. I think I will be a pullback trader as it just makes so much more sense with a cleaner picture. Rarely does it just run away after it hits an area, so waiting for that pullback would be no worse then jumping in on the pivot trade 'on the edge' as Henry would call it.

Before you decide on "at the edge" versus pullbacks, please consider just going with the first four MACDs. (There are many good runs after pivots that have no pullback. Just look at TF 9:25 Central Time yesterday.) Consider waiting for the 610 to reverse. It often does so after the pullback or multiple pullbacks. Then you're in pretty good shape either way. Of course sometimes the 610 reverses as the edge is being tapped, now that is heaven.

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  #652 (permalink)
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HighRise1202 View Post
Before you decide on "at the edge" versus pullbacks, please consider just going with the first four MACDs. (There are many good runs after pivots that have no pullback. Just look at TF 9:25 Central Time yesterday.) Consider waiting for the 610 to reverse. It often does so after the pullback or multiple pullbacks. Then you're in pretty good shape either way. Of course sometimes the 610 reverses as the edge is being tapped, now that is heaven.

My question is does it worth to take a risk taking trade on that pivot if you could be done by that time taking trades from the pull backs? To me pull backs seem safer with less risk.
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Looking at today's charts wouldn't you consider first three signals looking at 4 MACDs? So as you can see you would take three losses, but if wait far pull back you would be safe.
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I'm not saying that everybody should trade pull backs. And I'm not saying that you are wrong. I just think that everybody should decide what works better for them. As I understand Blue trying to change his strategy because getting on the edge doesn't work for him so well and he wants to try something different.

Just let him try and decide himself what works for him better!!!

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  #653 (permalink)
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I agree and it is a measure of measuring the value of the area along with the price action etc..

I think the interesting thing is to see if pullbacks are easily identifiable etc. because you can make lots of gifts on those guys also.

Vovan, what would you say your rules are for pullbacks? Has to hit a 23/38 first?

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  #654 (permalink)
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bluemele View Post
I agree and it is a measure of measuring the value of the area along with the price action etc..

I think the interesting thing is to see if pullbacks are easily identifiable etc. because you can make lots of gifts on those guys also.

Vovan, what would you say your rules are for pullbacks? Has to hit a 23/38 first?

I don't have straight rules about 23/38. I just want to see that price fail making new low/high and weak macd on the pull back. On the picture you can see two setups I really love. You can see nice pull backs with beautiful bull flags on MACD. Sure I'm looking on other MACDs.

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If we talk about retracement you can get you fibs from different pivot and if you look at the first setup it didn't hit 23% from the bigger pivot but it was 23% from the closer one. And second setup was 23% at one set of fibs and 38% on another one. Sometimes it's not that clear and if I missed entry from the small pull back I'll look at the next one. If MACDs telling me that we still moving in that direction I'll get in.

I hope this helps.

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  #655 (permalink)
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+3.7 points today

Very happy with my entry and exit. I probably scaled a bit too soon, but it was glaring down. The 1 gift was surprise to me and 1 tick made the difference.

I started trading at 3:40 because I had a meeting.

video

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  #656 (permalink)
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That was a great job!!!

What are the bug's numbers?

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  #657 (permalink)
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Thanks.

https://futures.io/trading-journals/11527-bugs-t-ading-journal-s-22.html#post130871

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  #658 (permalink)
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Awesome


vovan348 View Post
I don't have straight rules about 23/38. I just want to see that price fail making new low/high and weak macd on the pull back. On the picture you can see two setups I really love. You can see nice pull backs with beautiful bull flags on MACD. Sure I'm looking on other MACDs.

Attachment 41972

If we talk about retracement you can get you fibs from different pivot and if you look at the first setup it didn't hit 23% from the bigger pivot but it was 23% from the closer one. And second setup was 23% at one set of fibs and 38% on another one. Sometimes it's not that clear and if I missed entry from the small pull back I'll look at the next one. If MACDs telling me that we still moving in that direction I'll get in.

I hope this helps.

Great share! Where did you learn that?

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  #659 (permalink)
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HighRise1202 View Post
Great share! Where did you learn that?

Well originally I found it here Using a 123 Reversal Pattern for an Intraday Trading Entry Signal and I tried to combine it with E-mini Academy strategy. Because EA don't get in reversal trades and I wanted to get more profit from the whole run than getting just a part of it. You can see it in my first videos.

Then I was looking at NFT setups and some other stuff. With all that information I kinda forgot about it. Then I've heard in one of the Horst's videos "I should've waited for a pull back" then Blue said "I have to learn to get in on the pull back" and something clicked in my head "That the setup I've been using originally!". You can look at it like get in on right shoulder or right side of the head.

This helps me with to stay out of the market when it's not ready for revers. Before I would get at 76% then it moves to 89% takes me out and I get in again, it goes to double top/bottom I get in again, brakes through I get fibs from the next pivot and 76,89,100 again. By the end I have bunch of trades and tons of losses.

When you combine that setup with fibs and MACDs it works pretty well

I hope I answer the question!

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  #660 (permalink)
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Hey, Blue!

Have you thought that if you closed all 3 contracts at 76% retracemenet around 9:51 you could be done with 5+ points per contract?

I mean if you feel more comfortable with scaling early and let run only one that fine. As long as it works for you.

That was just a thought!

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