TinGull

I think the less active trader would be better served by something that they don't have to pay for. If that sort of tracking is included with NT like it is with TS, then I think it'd do pretty well. One of the biggest benefits to TDNA is seeing graphical representations of your trades during the time you were in it. How much profit was left on the table when your trade was on, how far did you let it go against you while it was on, what time of day, day of week, week of the month, month of the year....all that. It's certainly great stuff and I think it could be of use to people for sure...I just wonder if the less active trader (and one that doesn't leverage themselves in a large way...trades less size) would be better served by using something that's free. I know I'm always trying to keep my expenses down and at the rate I trade I keep track of my trades with the time and max excursion and all that myself 'cause I can. If I were making 20 some odd trades a day....then it's time to call in someone like TDNA.

brown, is it still technically a shooting star even when there's no gap between the candles? Or would that be some island reversal type thing if the gap was there? Im not as well versed on all the names as I probably could be I guess.

Luis, If volume had been lower I probably still would have taken the trade because it's my highest probability setups I've got. What I would've been more likely to do is take a smaller profit on it since the volume wouldn't have been confirming the break BACK into the range.

One of the things you always tell everyone though....no one said the gig wasn't tough Thats one of the biggest things I've learned from you.

Nice inverted hammer on the YM 15min this morning. Speaking of using them in context, this context was perfect and I also took this short. Knowing that the YM has a real tendency to fail a 30 minute range breakout, seeing a short signal on a candlestick at the top of a 30 min range is golden. Here's the chart of an inverted hammer.

Yea, Ihate that about FF. Does it in Safari, too for png's.

Nice work bf!

An addendum to my previous post...Im having some wicked data issues this morning so I don't know that I'll trade much else today.

nosast, that's my trade!!!! HAHAHAHA! I, as well, shorted at 524 as it came back into it's 30min OR and covered at 494 for +30 on it.

Very nice! I wasn't made aware of that, so that's cool to know 'cause that was the most annoying thing for me.

Congrats man! Always nice to have a new toy.

So far this morning I've taken like 15 trades premarket and am currently down a net 483 YM points!! YAY! Just kidding. I actually just woke up so I've got to get ready and take my morning walk. Just wanted to start the thread. Good trading everyone!

TraderDNA is more fabulous the more you trade. For me, I don't take many trades each day, so seeing the printouts of my trade trade shapes and such isn't as needed to me as if I were trading maybe 5+ trades a day. For my platform with TransAct, TDNA doesn't "talk" to the broker. You input a .csv doc that you exprt at the end of each trading day and then upload it to the TDNA servers. From there they match up the times you traded taken from the document to the historical data they acquire and mate the two together to get your charts that you can download. Regarding brownsfan's comments...I wasn't ever made aware that TDNA actually "talked" to your broker. In talking with the creator this wasn't anything he ever mentioned to me. Maybe it was just something that I didn't ask directly enough about, but he always states that you must actually log the trades into the TDNA logger manually. In watching the videos on each platform they currently support, this is the way it's done there too. So, TDNA would be really quite amazing for people who take more trades per day than I do. I just found it tedious to export my trade logs and upload them to their server when I was trading maybe 5-7 times a week. With TransAct they keep only 1 day of trade history whereas like JTrader will keep a rolling 4 days of history. If that was the case with TransAct, I might have kept up with the logging. Overall TDNA could useful, just not seeming so for me.

thats logical. MP gives you a good idea of what's going on in the market intraday or longer term.

MiP is one of the few books that you will read that focuses a lot on the brain and how one needs to have access and utilize both hemispheres of the brain to become a successful trader. I'm on my second read of it now, and unlike my chicken catchatorie, it's better the 2nd time around.

YM's been choppin around a bit for me. Haven't had any trades this afternoon that have been worthy of my finger clicking. Still up my net 17 points.

And this is the fun rangey stuff I love sooooo much :p Still sittin tight and standing aside till there's some direction.

I'm still doin' it!

I'm net 17 points now. Had a short that didn't quite work my way, but what can ya do. Still net positive and hollarin' "Neexxxt!!"

Price has gotten really funky for me late morning. I'm sitting tight with my profits right now. I'm at what is my daily goal and don't feel like risking it in a choppy ass market. And before you get on me about the daily goal.... .... I do keep a target in mind for what I want to achieve each day. If I get to it early on, then I know I've got a great chance to make more money cause I have a nice cookie jar at my disposal. If the money's there for the taking, I say take it!

Quick post of my trades this morning. I've been scalping the first 30 minutes now while waiting for my other trade to setup. Since nothing else has set up, I've just been scalping for 10-12 points. Had 6 trades. The profit I like to take home is around 30 points, and right now I'm sitting at 34 points with 5 winners and 1 loser. This is tiring as hell, though, so I've got to take a little break. I'll post charts later. Im dead tired right now.

I dont recall Nison claiming this as a "new" technology and claiming it as his own. He may very well be an expert on the subject, but I don't know that it matters whether the subject originated in Japan or Germany or Albania.

I've never heard of Greg Morris, and I know Nison is the one who brought candlesticks to the west...so I'd go with Nison.

Anything by Steve Nison. Just search amazon or go to your library. My library has all of Nisons stuff.

Alright, I wanted to discuss a little of how I use candlesticks in my analysis of the markets. I basically wait for the first 30 minutes to form a range, and then my day begins. I've been rethinking this lately, as the morning has provided some nice opportunities the past few days, so I'll include what I see with regards to that as well. 1) This isn't a trade I would take, but you can notice the hammer formation on higher volume than the previous bar. This should signify to you that price was bought up and that the path of least resistance is....up! If you are a more conservative player, then wait for a close above the hammer to get long. I know some (brownsfan) aren't so conservative and get in right when one forms, providing correct context of the hammer. 2) Hammer when you're long is a good thing. 2a) I didn't notate a 2a but if you notice the topping tail on the 3rd red candle at the top closing inside of the 30min range. This was my first trade of the day. Higher volume, lower close, inside the range...all is set for a short. 3) Bottoming tails, tweezers...whatever you wanna call em. Showing some signs of potential demand. The first one would be what John Person might refer to as a "jackhammer". Note the HUGE volume!! On this, you would expect to the next bar take off, as these form V pivots most often. So, when price forms another doji, then another doji...you can tell there's no follow through, so look for a short opportunity coming up. I love lack of follow through. 4) This is also another potential jackhammer. Big volume, big spread with a close near the middle. The next back is on SUBSTANTIALLY lower volume as it probed the 30min range, but couldn't close back inside. Red flag for the bulls, and the green flag for the bears. This was the one setup I missed today. 5) Note the significant volume increase, bald top and bottom, WRB...all this stuff that one would think would signify continuation of the uptrend. Well, that volume coming in there wasn't all buying volume. Remember the context of the day was down, so not all long opps should be taken. The next bar, if this was to be a continuation, should have followed through. It did not, so those who got long in that bar get worried, sell their longs and fuel the downward move a bit. 6) Inverted hammers, topping tails...all means the same thing. SUPPLY! This is also as price is coming back into the 30min range. If there's supply coming into the bottom of any range, it's going to get pushed back out, as it did here. The next candle was tricky, seeing a hammer on increasing volume . But knowing that a hammer to go long should be viewed at the bottom of a leg, you know this one doesn't have the right context to be viable. The next candle doesn't follow through anyways, so you're safe. 7) Supply again at the bottom of the 30min OR. Then, its met with yet more supply on the next candle, giving us a doji with a topping tail. While the next candle provides a little bit of evidence that price could go higher, note the decreasing volume from the bar of entry into the range. Obviously price is not attracting more volume, so the path of least resistance is down. 8) Nice shaven top on this candle, showing price wasn't wanting to go up at all. Increasing volume as price exited the 30min OR shows attraction of participants to lower prices and then...down it goes. That's my 5min candle analysis on the day.