jajuanm2

Day trade/scalp for income and swing/position trade for wealth. Not many day traders on the Forbes list of riches people.

Johny, very good info!!!! The problem is that trading can't be taught it can only be experienced. It will take newbies 4-5 years of frustration before they understand and accept the information that you have given them. Not sure why it works that way but it does.

One little dirty secret of trading is that almost everything works in the direction of the trend. So your challenge is the learn to identify the trend and trend change that matches the time frame you trade. For swing trades, find and objective way to spot trend changes on the weekly chart or daily chart. You can start by looking at the reversal bar on the weekly chart last week.

I don't think Think or Swing can compare to Tradestation or NinjaTrader. Think or Swin is a good low cost platform but I see more serious traders using Tradestation or Ninjatrader.

Who do you use for data feed?

Time based charts with volume are a good indication of momentum. You need time in order to calculate momentum. When the average retail investor looks at buying or selling stock they are mostly looking at the number of shares and the price. Range charts works nice also, you just have to fine what you like and master it. Also learn to put price action into context of the higher time frames guys that move the market. A lot of the intraday price action appears to be random until you put it into context of what the big money guys are seeing on the daily and weekly charts. What feels like a crash intraday is just the weekly guys offering all the day down to the next weekly support level.

Good point on the 10,000 hours. 10,000 hours applies to most things that are worth accomplishing in life. The key is you have to have passion and drive to make it through the journey. Anything that is easy and can be done in a short period of time will not have the same financial payoff as something that 90% of people are not able to do.

You will probably go down the path of learning everything that does not work from experience first. Be prepared to be committed for 3-5 years. I use only zero lag indicators called trend lines , support and resistance. However, my first 2 years was trying all indicators. Keep in mind, everything including lagging indicators works in a trend.

Tradestation calls constant volume bar charts "share bars" . It's the same thing.

The volume will start to dry up after the first two hours for all equities index during the summer months. Gets worst in July and August. That could explain your fill issue.

Nice trading ! There was some good movement in NQ today. The range was about 50 points total.

Nice trading! Set a goal fo rputting together a good week, once you reach that then your next goal is a good month, then quarter. Hence, consistency will be the key, you have to focus on ways to execute with precision consistently without thinking about money. Once you do that you can just add contracts.

NQ, like the other markets bounces off of support and resistance levels each day. A couple days a week you get a trend day. The key is to know where the key support and resistance levels are and to manage the trades based on that information. Try to get in near support and reduce size or close the trade near resistance. Once price get above the resistance, you can always add more size or reenter. Are you swing trading or day trading?

I been trading NQ for a while now. I use volume charts, and the speed of the chart will depend on the trader. I like 2500 & 8500 constant volume chart sfor NQ. It's not anything magic with those numbers, they just fits the number of setups I'm looking for each day which is around 3-4. Also I trade for 10-20 points at a time. If you want scalp, then you probably should look at 500 -1k constant volume chart.s In short, I traded Es for about 4 years and YM for about 2 years and I like NQ the best. You just have to add 3 NQ contracts to equal the same dollar amount in 1 TF contract which is another good market. NQ is a very fast market.

VSA works! However, if someone has a hammer in their toolbox it does not mean they understand how to use it to build a house. The person probably can drive a couple of nails and yet not understand how to build a house. It takes a little time to learn how to use volume , but once you get the art down you will be on your way to something special. I use to be afraid that too many people would find out how to use it and that it would stop working for me. In summer months, setting minimum volume levels for different time frames helps to keep you on the side lines until it's time attack. Also you still have to know where the S&R levels are . A lot of times volume is just pushing to a level where the big orders are located. In short, you have to understand market structure and S&R levels to use volume properly. You also can't try to make using volume a mechanical process. There is judgment involved because you have to put things into the context of the market structure. You also have to monitor multiple time frames to understand the structure. Once you do that, just stay out of chat rooms and just let the tape tell you what to do.

Place it a couple of ticks below a level where you know your trade idea is wrong.