TinGull

I used to use a 144/89tick chart, a 233t chart, and a 2min chart. Those are scalper time frames, so the points that you're taking are good for those time frames. If you're wanting to take bigger moves, then you want to not play inside the noise and look at 5min at the smallest, and up to a 15min for direction. This is how I play it now, and its sooo much more comfortable than it was before. Using a larger time frame you'll be able to not get shaken out of the market by the noise.

A lot will depend on the timeframe you monitor, as well. What time frames are you watching currently?

haha! Yea...I got long at 461 to 482 for my final trade on the day. Felt nice.

I shorted 1000 cars at the market...that'll do it every time. Now Im a gazzillionaire!!!!! Of course, Im only kidding...

Nice, yea I like the look of it so far.

Yea, I'm starting to watch NQ now...seems intriguing for a guy who likes small PnL like me...

Yes, I definitely look forward to the next installments

Just curious as to if what your favorite candlestick trigger would be....if you could only choose one to trade I vote for the harami!

Same thing here...I notified James already a few hours ago about the issue. There's nothing I can do on my end, unfortunately.

Here's a quick Q...why do you think the NQ doesn't get as much love as the YM? Tick value seems really nice for the risk...really its similar to the YM. Just curious

Soul was upgrading to a new server yesterday, and that's why you were getting those messages. All should be well now, with an upgraded server

I had once developed a pretty sweet system on the ER2 for trading via value area levels depending on where price opened in relation to the POC. I haven't traded it nor looked at it in a while since ER wasn't my cup of tea, but it did do pretty good. At 20 bucks per car per trade on ER, what are you risking? Thats just 2 ticks. For me, I'm no scalper at all...too much stress for me to deal with...so holding out for maybe 2-3 points on the ER is more like what I'd want to see happen. So I guess Im not quite sure what to discuss...but that's what I've done in the past.

Last weeks gap from Thu/Fri has taken 3 days to fill now...slow and molasseses-like this action is!

Welcome aboard James! Nice car, too...love the pics And a GT30....jeeeesh! I sold a few GT30's to the MR2 crowd years back when I had a parts business. Drove an MR2 with a t3/t4 monstrosity...I'll never forget that day.

Got any pics of your gsx? I used to build and had a few MR2's...85, 87 and my precious 91 hardtop. Anyhow...back to the thread

Exactly. There is always going to be a human mind behind any system. Wherever there's a human mind, there's always room for error, and where there's room for error, there's room for a discretionary trader to make money. There will always be a market for the discretionary trader. Greater volatility brings greater profits for the day trader, IMO.

To a degree, I agree with you notouch. I dont think its as simple as saying "smart money/dumb money". I whole-heartedly disagree with you in saying that VSA is worthless on a 5minute chart. There are many professionals who day trade and 5minute charts can show a lot when it comes to volume analysis. As for hingsight...just wait for the stinkin' bar to close I for sure don't want to be the first one on the train, just in case I got on the wrong one. I'd rather wait...see what volume did on that bar, and then if it was high volume, wait for the next bar to see if that volume stopped the upheaval or downward movement...whichever direction its going. For folks that do swing trading...5minute bars will be worthless. For those that hate to hold overnight, 5min bars are very telling. Anything under that and I have a real hard time reading them. 5minute would be the lowest I would go, with a real liking for the 15minute bar.

I dont trade with IB, but I'll def look into the ones you've recommended.

Im looking to learn, really.

Something that has an equivalent value to the YM per tick would be "mini" to me.

Nice, thanks notouch! I appreciate it, I'll chck into those.

Just wondering if there's other mini futs that have any sort of liquidity. MIni ags seem to trade like less than 100 a day, mini gold is...ehhhh....mini EuroFX is garbage... Are there any other minis to trade? The reason I ask is because I love the small dollar tick increment right now for my purposes, but have really only 4 things to choose from (3 really...the ER2 is a bit rich for my blood). Any thoughts? Chris

If you're wanting to sell spreads, you need high volatility to capture premium. If you're buying them, you want the lowest volatility possible so you pay the least amount for those options.

Ah yes, I do garden. I've got a decent sized garden at my community garden spot where I've got enough veggies growing for me and my girlfriend to eat for the rest of summer and fall.

Hey Walter, This happened to me today. SO much stuff all of the sudden became clear like it had never done so before. Instead of thinking backwards and saying...why didn't I know this sooner??? I look forwards and say...I can't wait to use this from now on!! There's absolutely no point in looking backwards. What's happened has happened. It's tough to do at first...I struggle with it every day. But, is there a point in thinking about changing the past? Not one at all, so why waste the energy on it when you can think about the future? The steps Im going through right now to do this are: Waking up every morning telling myself what a wonderful day it is to be a trader. I go downstairs, have breakfast and think...what will happen today? What will I learn to make me better? I go to the garden and tend to my veggies and flowers, and think...I can't wait to get back to the markets and use some of my knowledge. Notice...all this, I'm always looking forward. I try really hard not to think backwards on anything! Like...for instance, in my garden I've got some carrots that aren't coming up like I want them to. For me, I want to look back far enough to think...why is this happening? I figure I must have planted them too deep in the soil. Awesome! Learned something to use for next year. Will I go back to the garden every day until next year thinking...crap, why didnt I plant those carrots closer to the top of the soil? No, I'm gonna try my hardest not to. Im sure the thought will creep into my mind, but then I'll think...."but look at those tomatoes! I did that spot on!" So, realize that you needed some time to learn something, but you've learned it! Thats the important piece to the puzzle. Don't look back, only look forward because you can't change the past, but can certainly make your future paths more enjoyable. We all want to enjoy life, right?