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Bannor
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Everything posted by Bannor
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I actually use both MarketProfile and MPValues to confirm them against each other. Also note, you gotta update the MarketProfile Indicator every day with start and end time in the indicator itself, for some reason those values do not persist.
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http://www.ninjatrader-support2.com/vb/showthread.php?p=27457#post27457 Post number 51
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I actually use 2 different indicators at the same time on NT. The one you are referring to here is named MarketProfile. I also use another indicator titled MPValues. MPValues draws pricelines and creates price markers for the most recent period on the vertical axis. I like using these 2 indicators - MarketProfile for the developing VA's and shape of the histograms, and MPValues for definitive VA edges and POC's. You can find both in the NinjaTrader support forum, and both are 100% free. Bannor
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Hey Guys Sorry, but I have to weigh in here. Tickiman, welcome back to your opportunity to rip TTZ! Its been a while, interesting to see you are still out there and still bitter. For the life of me, I do not understand why the moderators do not kick and ban people like you. We have been over this - your negative comments with no backing material again portray you for who you are: a bitter, lower iq person that has nothing better to do than bash something you obviously do not understand. Or, wait, is it more? Is it personal? Could it be you have a personal grudge against Greg? Hmmmm I wonder . . . Well regardless, I always welcome the opportunity to fully explain the value of a service like TTZ - so here we go. Here is the first most important point - no system is going to be the holy grail. No system is foolproof. And, most importantly, no system will trade for you. You MUST put in the work and effort to understand and learn all the concepts necessary to be able to consistently trade futures. These concepts include but are not limited to Entry/Exit Strategies, Money Management, Market Profile / Market Structure, and Trading Psychology. Tickiman - have you ever even heard of these concepts? Do you fully understand all of them? Can you even spell them (lol)? Well it should be no surprise that I did not understand how all these concepts could fit together in symphony, when I joined TTZ a little less than a year ago. However, I was determined to NOT be a sim-trader, a perennial loser, or a bitter person that needs to blame others for my failure (like you). A friend of mine here recommended TTZ as the best way to learn and understand not only each of the concepts individually, but how they work together to create a positive, consistent cashflow. Make no mistake - that is my goal. I am 100% sure that is not Tickimans goal, folks. I am now positive and consistent with my cashflow. With that said, here is the next most important question. Why do I still lose occasionally? There are only 2 reasons for this. 1 is that the market probability said it was time for my loss. 2 is that I made an entry mistake. Notice, I did not blame anyone or anything else. When Greg makes a bad call in his chat room, why is that a bad thing for me? Unless I am shadow trading, I could care less what Greg does. It's the concepts his course has taught me that are invaluable, and what I do with those concepts is my responsibility. This is what the gamblers like Tickiman will never accept - the concept of responsibility. So, dude, get over your inability to trade futures. Get over your grudge with TTZ. Recognize that if you cannot learn from a course like TTZ, you need to move on and do something productive with your life, and stop pretending you are a trader. You aren't. Oh, and thank you for allowing me to use your ineptitude as a golf tee to drive yet another positive comment regarding TTZ down the fairway! Bannor
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Hello All, sorry its been a while since I posted to the thread, I have been busy soaking up the TTZ method. So yes, I became a member. Why? Because unlike so many people here and elsewhere who are simulating to save their few thousand dollars in "investment capital", I am doing futures for a living, with a substantial bankroll, and I do not have the time or the patience to listen to the typical bs of "its too expensive", or "its all information you can get for free from the web". I got to a point where I said to myself 1 - AM I going to do this? 2 - CAN I do this / figure this out on my own? 3 - WHAT is the best resource to help me to achieve this? The truth is, if you have really attempted to trade futures, you have already lost far more than the "signup fee" of 3K ish. If you have not lost this yet, then you in all likelihood land in the category stated above ie Simulating a few thousand in capital playing at trading futures for a living. But for those of you that do have the capital, and do want to make trading futures work as a consistent income, then here is why I went with the TTZ. Honesty - every day the moderators trade in real time - time-stamped calling entries and exits, using the method. No other room I have found has the moderators trading in real time, period. They make gains, they take losses, but they are not hiding. Anything. Further, two nights a week Greg (the lead moderator) reviews how he did in a members only room to 100+ people. He talks very openly about exactly why he made entries and exits. Oh, and as to the "is he trading for real" question, it only takes a few minutes of hearing him do real trades to hear the exuberance in his voice, the emotion, to know its the real deal. 2 - Value - Again, if you are a lifelong simtrader, as so many naysayers here are, you wont get this, but for all of us hardcore futures traders, we KNOW 3K is a great deal for a lifetime of support with a complete system. I made back my tuition in days. Enough said. 3 - Education - I must say what the TTZ has taught me is how to put it all together - Money Management, MP, Entry Patterns, Exit Strategies, and most importantly resetting what the goal is. Are we here to hit homeruns? Or are we here to consistently hit singles, and position ourselves for making consistent ticks? Do I make those consistent ticks overtrading, or waiting for my precise high-probability setups? Bottom line - if you are trading in the day timeframe, looking to trade 4-6 trades a day (ie not scalping), and you are serious about making futures trading your living, then the TTZ is an excellent choice for education and community. On the other hand, if you are playing at this, or if you are using a faster (ie scalping) or slower trading time frame, then you would obviously be better served with a different approach. I am in the TTZ room in Paltalk, my ID is Bannor45 - so if you slide in there and you want to talk, feel free to IM me in the room. Otherwise, I wish all of you luck in finding your path to success in this extremely difficult career we have chosen of trading futures. Bannor PS - I expect to get flamed from this message, but just remember what I said - if you cannot afford to pay for the TTZ room, then you are not truly here for the same reason I am ie a consistent day job making 100K+ a year. Oh and no, I am not paid by the moderators or anyone else to state this, I just believe in my choice, and believe in the positive karma of helping folks out there in my position to see the light and make futures trading for a living work for them.
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Tickiman: Do you have a room? Do you have an educational service? Do you have a method for trading the e-minis? Do you have anything else to offer besides "Greg is the devil incarnate"? Like - perhaps - TTZ doesnt work, methods dont work, training is not consistent, Greg is not honest about his trades, etc? See here is the deal. Your plan to smear TTZ is actually working against you here. I have done some homework and here is what I have discovered. TTZ offers a set of educational materials to teach its members its methods. TTZ gives its members trading ideas via Yahoo every day - first thing in the morning then throughout the day. TTZ (Greg and Gator) calls out their official trades every day - including the ones gone wrong TTZ reviews all of their trades taken - winners and losers - 2 nights a week, to teach their members "why". This is the most honest approach I have seen online. And in fact, I would encourage all of you to review and consider. Remember, the goal is not for any one person to call out trades for us to take. The goal is to LEARN how to trade futures. The more you rant regarding your personal conflict with Greg, the more you draw people like me to TTZ to see what it is you are angry about. Just fyi, I get it, because they are successfully helping people identify and build a profitable trading style, and you are obviously jealous. You are offering nothing but a negative attitude, with no constructive criticism. In fact, Tickiman, just exactly what is your goal here? Is it to discredit the TTZ methodology, or is it to personally smear Greg? Bad business deal? Dislike Canadians? What is it? Really, I dont care what it is - just please stop with the "high-school" smear of TTZ. Thanks.
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Hello All Has anyone else noticed how every single one of Tickiman's responses has been completely fact-less? How what he says seems to be nothing but personal issues with the dude in TTZ? I have nothing for or against TTZ, but I have huge issues with immature flamers, which this person apparently is. There is a reason why I enjoy TL so much - specifically because this is not a community of immature flamers - but instead we are a group of mature, thoughtful, professional traders. Well - most of us. I can only hope that a moderator person will step in here, and help eliminate the kinds of responses Tickiman posts in our world.
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Ok Thats cool - and I agree that "pop psychology" information is just as bad as not paying attention to the emotional aspect of trading at all . . .
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I think we can agree that maintaining a stable emotional response/reaction to market events is critical to making effective decisions in the moments of trading. How many of us have looked back at our trading decisions during the course of the day, and asked ourselves "why did I make that decision?" knowing full well what we should have done etc. For lack of a better word, lets agree that "emotions" are why we made the incorrect decision. The heat of the moment, greed, fear, use the terms you want, but I know of ZERO traders who successfully use emotional responses. In fact, most traders I know that have blown up his/her account and moved on, specifically did so because they never harnessed their emotional responses. SO then, if we can agree to that, then we may also agree that there has to be a way to harness this response. Call it emotional IQ, call it Trading In the Zone, call it whatever you want, but I for one refuse to believe my emotional responses are a black box of unchangeable response. Instead, I believe I can work with my beliefs, focus on my skills, and control my emotions effectively. To suggest that emotional control/understanding concepts like "Emotional IQ" are garbage is like driving a broken car down the highway, stating "I dont know why the brakes are making that noise, so I am going to pretend they arent, and keep driving". The rest of us must just try to stay out of your way for when you inevitably crash into a barrier. Trading is not a game, is not gambling, and if you allow your emotions to rule your approach, you will be destroyed by the market. Anything I can do to be more successful with it is my goal, and I would strongly suggest that be the goal of every single person out there trying to be a professional at this.
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And here is another scoop. If you don't have enough capital to trade, then you shouldn't try. If you do try to trade with small capital, then its just a matter of time before you end up giving it to the Market. I don't work for Harvey, and I would bet the other person posting here doesn't either. All I am saying is, Harvey offers some good ideas and good basic advice. 149 is what you should be making in 10 minutes of trading. So is it worth ten minutes? Sure. As much as any other system. But if you really want to increase your odds of winning at trading then 1) Get some Capital, and 2) Read, study and understand the psychological aspects.
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I also purchased the course, about 6 months ago. My expectations were set to what $149 can buy - and I was pleasantly surprised. A few good handbooks on basics and his methodology, plus access to more of his trading videos. But come on folks - its 150 bucks. Why so many sour grapes over such a small dollar amount? In a price to value evaluation, the money I spent on my "marketeer" Investools education far surpassed this, with far less bang for the buck. Plus - if you are whining about this price point, then please stop pretending to be a "trader". Finally - what I have found that personally really works in my trading education is not the hunt for the elusive system, but psychological material. Most traders, including myself, have winning systems or edges, but are challenged in overcoming their emotional issues. Make no mistake - Emotional Mastery Is Key. Harveys course does not mention any of this, so I strongly suggest everyone goes out and buys "Trading in the Zone" by Mark Douglas. After I started mastering myself emotionally, anyones approach to edge (including Harveys) looks like what the typical golf cup looks to Tiger - 3 feet in diameter. B
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Walter deserves a free lunch! But even though he does, he doesnt need it when trading futures, apparently based on his analytical threads here. Regarding the art of Texas Hold Em - what IS Texas Holdem is scanning equities looking for the right profile, playing them during earnings, volume spikes, etc. The ES is by far the least gambled instrument in the market, in my opinion. It has predictability, and it has excellent return ratios. Setting reasonable stops, then using a handful of standard indicators nets at least a dozen points a day. No gambling, just daytrading at its best . . . I would like to understand why you think ES is like Texas Hold Em?
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Hi Walter! I just "discovered" ES after months of scanning stocks, looking for RR ratios that were profitable, and trying to find price structures that were relatively predictable. What was I thinking! So I do not know much about comparing ES to others, but I do know you are right on track regarding scalping these indices! Particularly if one pays attention to money management and stops (mental or actual), it really is pretty straight forward to win at least a few ticks a trade, a few times a day, per contract. B
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I also purchased his course, and it seems to me he is just into simple analysis of price/volume action, with some sound simple advice on daytrading in general. And btw, I can get 1000 lot fills pretty easy, so thats not magic! Of course, its a lot of capital, but who's counting . . . B
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I think it is more helpful to track the market in realtime, and predict the short term (think 15-minute bars) general market direction, then to know what will happen tomorrow. After all, either I am holding swing trades, which means I must have the intestinal fortitude to hold through my prediction to the target or get out at my exit - or I am looking to daytrade a setup. Knowing how tomorrow is gonna be ahead of time might not be so useful. However, I have found a method of predicting current day short term direction. Its not my idea, its the idea of a web-talk-show guy named the Shadow Trader, using the breadth concept. Basically, tracking upvolume (volume on buying behaviour) versus downvolume (volume on selling behaviour), comparing these two line to each other in realtime, monitoring the direction and/or gap. Combining this with TRIN and TICK works very well for me in gauging the markets shortterm (intra day) direction.
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Trading Alone or With Others in Trading Room?
Bannor replied to nycdweller's topic in E-mini Futures
Favorite Music to listen to while hammering away? I enjoy an eclectic mix of 80's Grunge, Chorale Classical, and Techno/Trance myself . . Also, I agree it can be a lonely sport, this trading business. The problem with so many chat rooms is that there are sooo many blowhards and other communication evil-doers that its difficult to actually enjoy most of those rooms. I did notice there is a chat room here, and I am going to start hanging out there if anyone wants to join me during the trading day. Good trading today, people! B -
Brownsfan, I am focused on equity instruments (stocks), daytrading and swingtrading these with candlestick/price pattern/Volume analysis strategy selection and entry/exit. Torero - yes I have also heard of Multicharts - but I am a pretty active trader, so I can get TS for free! Such a deal lol. Thanks for the assurance that its charts are powerful.
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Hello All! I just wanted to introduce myself to the world of TL and say - fantastic articles and threads here on trading discipline! Obviously, there are a number of veteran traders here - thank you for giving all of us your insights on being successful at this as a profession. For my first question, does anyone out there have an opinion and/or advice regarding TradeStation? I started with Investtools, moved from there to Think or Swim, discovered Options not my interest, moved to TD Ameritrade (terrible tools for daytrading), and I am thinking TS may be my best move. Any opinions? Thanks again, and I look forward to interacting with many of you here in the forums. B