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weiwei

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Everything posted by weiwei

  1. weiwei
    darth trader, those are reachable goal on YM. but TS execution plateform, in my opinion, is not scalper friendly. So make sure that you master how TS execute, and be comfortable with it.
  2. weiwei
    Now my conclusion on why support become Resistance and vise versa. Using my pic as an example, to break that R level, it takes a lot of $$$$, commitment , and your job on the line. Once those pro traders able to push higher, they sure will defend their profit when it is challenged again, because they would want to get that bonus at end of each month. weiwei
  3. weiwei
    Now this logic would not be completed without knowing how pro traders dose things. I personally met a few traders working for big companies. they all made very good living earning their pay check and commissions from those companies. Once they made that big $$$$, they live very comfortable life, which takes a lot $$$$ to maintain it. what dose all these mean? that means they must perform, so at end of each month, they can collect that bonus to support their life style. To perform simply means to make money for companies they work for, and they can do what they can to a limit, usually the risk control department come to tell them to stop. And btw, they are not smarter or more displine then individual traders, one of edge they have is that some one else is force the displine for them.(risk control department). and the other is the amount of contract they can trade. After I put all these together, then what I posted was my observation. weiwei
  4. weiwei
    Cooter, as for me, I have no way of telling if Smart money is the one who is capping, all I have is data from tape and I do my best dedution out of it. And I would guess that most people can not know who is capping in this case. It is base on this logic that I made my analysis. The pic dose not tell the whole story, as it leaves out any transaction below 700 cars. so during any 1m interval, there could be a flux of sub-700 cars, and the chart is not showing. again, my logic is that any time there is a transaction that big, some one is serious. on top of that, if there are many of them at a price level, then that some one is dead serious about protecting that price level. so carry this forward, to break out of that R level, a lot of money will have to be involved.
  5. weiwei
    It is just matter of $$$$, and the winner defending their investment. Look at this pic, each arrows is 700+ ES cars on that time interval. With that many sellers to short at 11220 area, it takes a lot of buying powers to over come that area. so what happen when buyers and sellers dual out again at that area. Only one side will win. Either seller able to cap it or buyer able to break out it. The winning side must out power the other side. Simple as that. So if buyer is able to break out of that resistance. which means a lot of $$$$$. they sure will defend it when it gets challenged again, so they do not lose money on their position. Thus Resistance become Support or vise versa. It is the big boys who can muscle the market that matter. They are the one who created S/R. So they are the one who will react to those S/R, if that is where they conduct their business at. http://www.traderslaboratory.com/forums/attachment.php?attachmentid=1409&stc=1&d=1178597719
  6. weiwei
    He scale in 5 at a time for up to 40 cars. most of time it is about 20 to 30 cars. He trades upto5 to 10 swing per day. As far as how many points, he dose not have a set points for exit. he use MMath and order flow to see if he should stay for more or exit. the reason that I know is he showed his P/L from his brokerage account to us to prove his points from time to time. and after 2 years trading with him, you know if he is for real or not. weiwei.
  7. weiwei
    MX, I have seen day-trader made over 10K to 14K on a good day trading YM as a scalper on a consistent base, and I have seen him done it for over 2 years. So it is no luck, he can read market very well. Basically, I disagree with your anology about scalper. Scalper can said the same thing about swing trader must bear the over night price shock. Like 2/27/2007 gap down. depends on one's position size, the draw down could be hugh, 30% -70% is not impossible. How about the limit up or down for several days. The point being that every one has a style that fits him/her. Some is doing better at one style then other, that is all. weiwei.
  8. weiwei
    you got it, BlowFish. But dot do not go through calculation. It gets ploted right away. weiwei
  9. weiwei
    Soul, I read "Way of Turtle", and to me it was an excellent book on Trend-following. It provides very realistic view on why Trend-following is hard to do and need a lot $$$$ to trade it right. It is not as useful for intraday trader. But it did offer his view on different markets that is very useful to me. Can you tell me what is the part that you do not like? weiwei PS: I like it personally, because I have spend mucho $$$$ from turtleXXXXX.com and end up have to toss it away.(look at how many $ sign, you can kinda guess the minimium price that i spend) Because it left out a few very important info until I find out that you need at least 200K to trade it succsessfully. The reason being that the account have to be able to withstand up to 40% draw down, and still have enough money to do position size up when the good signal comes in. Small account just can not do that. I hope this book will put those scammers out of business.
  10. weiwei
    Click on View ==> tool bars, make sure that "Tool & EL shortcut" is checked. Then find that tool bar, Click on "New Time & Sales Window" button. Once the windows is open, you can format it to the way you want it weiwei
  11. weiwei
    Consistent profit over the long run is definally much harder to achieve in my opinion. wanting a spike in your account is very easy. Position yourself before any major eco report. You will have a roller coaster ride. This Fri's Employment report can give you the chance to do that. weiwei
  12. weiwei
    these numbers are base on trail and error. Not base on stats. And on ES, so far 700 and 100 are my cut off line. In other word, I am not intertest in any transaction less then 100 contracts. Rule of 20/80 for this idea. weiwei
  13. weiwei
    Cooter and BlowFish, those are bid/ask from tape. If the transaction is greater then 50 then plot dot. If more then one during this period of time, then keep adding until end of time. On the X, I call them Junior. It is transaction with contract greater then 10 but less then 50. If bid, then it is negetive number, if ask then positive number. X do not get plot right away, it is ploted at end of each bar, after all the addition or subtraction. This will show the who is more active, buyer or seller, at end of each bar. weiwei
  14. weiwei
    I want to show a pic that I took. x for aggregated contracts less then 50, dot for contracts greater then 50 in that 1 minute bar interval. Red for seller, and blue for buyer. From it you can see that red x out nubmered the blue all the way before 10:30 Eco report. You can see that sellers are anticipate a fall before the report, so they are setting up themselve on the short side. Look at 10:31 bar, seller was able to push down 20 YM points in 1 minute without any efforts, as you do not see any red or blue dot or cross. The moral of this pic is to show that no price derived indicator will show the intention of the buyer or seller. For short term trading, able to to read order flow is an edge over indicator. mho. weiwei
  15. weiwei
    Chinese, now live in USA as American. weiwei
  16. weiwei

    300

    weiwei replied to Nick1984's topic in General Discussion

    Nick1984, Actually from what I know, Quin Dynasty(one before Hun) has better military power and structure. But it did not last long after it unified Chinese into one country. At its peak, it has 1 million troops. while Romans has 500K at its peak. (got this from a documentary). But I do think Roman has better war machine.
  17. weiwei

    Any Bond Traders?

    weiwei replied to Soultrader's topic in Futures

    Bond is more trending and when it move it is more gentle then index market. So if you are more of a trend trader, then bond could be a good fit. If you are a counter-trend trader, then you might have tougher time in this market. my 2 cents.
  18. weiwei
    Kelvinfeeder, a few more things. a lot of good traders are also good poker players. I would suggest that you learn about Poker. Learn how about money mangement, when to go aggressive, when to fold. all that is very similar to future trading. And the best thing about this route is that it is much cheaper and less stressful. You can pick the level that fits you when you play poker, while as in future treding you will be against a lot of smart pros, you will play their game. The chance for a novice is almost zero at beginning.
  19. weiwei
    Kelvinfeeder, trading, at end is about knowing who you are and what you have. At beginning you will have to decide what kind of style fits you the best. Then pro and con of each style. Basically, this is proportional. Longer the time frame, bigger the capiatal, more tolerance you need for the price swing. no matter which way you chose, be ready to put in a lot of time. Some one once said, a good trader is compareble to a Jet fighter. Same mind set, training, and able to see things from different angles. I do not know how Jet fighter train, but I do know a lot good traders put in that 60-70 hour work week for years.
  20. weiwei
    This is option expiration week, so I would guess that price will be in a range bound mode.
  21. weiwei
    You would have to save the chart as a pic, then upload that pic.
  22. weiwei
    Sublime, welcome abord, and don't get discourage on what had happen earlier. People here are very helpful and knowlegeble. weiwei.
  23. weiwei
    I trade YM, but look at ES NQ and ER2 for intermarket relationship. use Trader's Pivot and P&F chart for SR Use tick,MaketDalta, average Volume per bar and tape for entry.
  24. weiwei
    At Point B, price run up on increased volume usually gives indication of bullishness, but since it is happening at close, many things can happen before the opening of next day to cut down that. At point C, I can not derive a conclusion base on volume and price alone. Except that there is no follow through on price and volume on that long candle with good volume. But it is easy looking on hingsight. weiwei
  25. weiwei
    So far I do not know any indicators for small trader that can point out who is doing all the buying or selling. If any one know, please point it out, I will be very appreciate to know how. Thanks in advance. But base on Price and Volume, we can still do some analysis. At Point A. bar number 4 was a down bar with good down volume, but has a long wick, meaning that buying is happening in the bar. so support is coming in. bar 5 when down further but with less volume. so the firing power is drying up. Bar 6 is the one that gives good clue that this run down is about to be over. It close at high and with good volume. and it bounce off S1, when one put all these together, it gives good clue that a run up is coming. weiwei
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