JayRemy

thanks ant that pdf answered my question exactly i'm working my way down these videos tingull - infact they have been a great education not only for delta but learning about the to and fro that happens between buyer and seller. I'm also reading mind over markets at the moment and the two compliment each other nicely. thanks again guys, jay. )

Hi Guys, Wanted a bit of input on this! I'm trading the YM with 233 tick chart. TinGull suggested I try out the delta indicator for tradestation written by Ant. (thanks go out to tingull and ant) The default thresholds 150, 300, 450 (i think these were the defaults) were designed with the ES 5 / 15 minute in mind. I've used it for a couple of days now and really think this could improve my game But I have no idea what thresholds to put in place! Has anyone else used this indicator on the YM before, if so what kind of thresholds do you put in place? Infact, if you have or are using this, has it picked up your game? Interesting to hear if anybody has success with it! Cheers , Jay.

yah - i totally agree. i'm a noob and put 5k in an account and started trading 3 contracts - then lost 1k pretty quickly, so dropped to 2. The point is all i could think about was - i have to trade as many contracts as i possibly can, so i can make more money really quickly and trade more contracts - there becoming the richest man on the planet ! But alas, here lies the very first rule of trading that i discovered. Its not about the money. Its not about the money. Now, i dont care if i put a trade on, simulate it or just watch it - the only thing i care about is learning the system, understanding the inner workings of the market, becoming its friend - gennerally getting to know the market, tape, mp etc oh and read read read read all the many great books out there. Basically, I think, when your a noob its all about education, building experience cheaply and study study study study. :rolleyes:

apologies for not making it today james but thanks for saving the script. prolly wont be in chat till next week. (really busy at work at the mo ) cheers jay.

Thanks Soul, that helps me also, nice tip on the 00. I'm going to have to keep on eye on that !

good video, thanks james. bracketing ticks seems to work pretty well, but what kind of situation would you play this method? are there any signals in the early morning /pre market that would make you look at fading the ticks? ta, jay

i'll be very interested in this, best time for me would be late lunch but i will try to make anytime you decide. cheers, jay.

Thanks guys, it was worth posting this thread, for the reason that it is a goal of mine to be able to do this as a career. However, I dont want to rush into anything and blow my account, spending the next 6 months trying to fund another account. So, it's goals I need. I like the idea very much of making 6-12 months stash of cash equivalent to my current salary. This will give me time to experience the markets with also having a "light at the end of the tunnel". - Thank you TinGull. Ah yes, consistency. It's very true from a couple wins one might get a sense of heroism, thinking himself invinsible and start overtrading. - I've lost so much money at poker like this, your account just yo-yo's. Although, I think I am very aware of this and am able to control my emotion. Only time and experience is the true indicator of this and with the light at the end of the tunnel i would rather make the mistakes while i have a job! - thank you Torero

yah - i enjoyed this with you raul. look how many pips were on offer!!! i'm definately going to trail my stop next time .

Hi Guys, How do I know if I can make trading my full time job? Thats essentially my question! Ok, a friend told me about trading a couple months ago (just after world cup), I know this is no time at all to have built any kind of experience but here goes. He told me about trading the YM open using an ADX indicator (basically wait till adx reached 40 and drops 5 then enter reversal trade). From, there I lost half my account. I wised up and started researching myself - i found this site and studied everything I could about the ym, pivots, fading, ticks everything - I'm on route through a stack of books very kindly recommended by people from this forum. I have the theory pretty well worked out, if i dont have any information about something i'm damn sure i can find it out from books i have already read, internet resources etc. I understand the pshycology of the business too, from playing poker for several years I am very familiar with "going on tilt", chasing losses etc. in fact I keep a trade diary which has no monetary value in it - only points. I am a programmer by trade and believe i am very methodical and analytical by nature. Being in the software industry - my head has been in books ever since i was able to read, although i havent read fiction since school! I'm not neccessarily asking you if I should take the plunge but more so, how does ANYONE know when to go fulltime. After reading this back to myself - it sounds like a rant but hey! It would be good to hear if any of you guys have comments. Oh, finally - I'm in profit ! - surely thats a good sign! (Edit - Posting this thread gave me a gold star under my name - it's a sign ) Cheers Guys

yah - i'm riding the euro right now - looks to be a winner - just a matter of time i've been watching the tape for this instrument - i'm amazed how slow it is compared to watching the ym tape - i assume this is normal? regards, Jay.

thanks raul, i'm gonna check out the swissy right now, cheers jay.

ill be there if i can - im in the uk so morning session is our afternoon - but i usually manage to get away from work for a bit here and there :p

that is very funny :rolleyes:

Hi guys, I'm a bit behind everybody on the forex trade, just read the transscript from the chat session and checked out previous charts - absolutley blown away with one, looks like a way to print money Apart from what I've read on this site my understanding of forex is pretty much nothing. I dont have the money to trade this on cash, but i've been looking at currency futures. Am i right in saying, CME Globlex symbol BPZ6, British Pound is one that I could be looking at for this trade. I've got the actual trade pretty much spot on in my head, i know exactly what to do. Just wanna make sure I'm trading the right market ! Also, are there any considerations we have to account for at the start / end of week? Thanks guys, Jay.

Hi Soul, Great vid as usual from 10:47 in the chart where the price goes above VAL then back under - this is a head and shoulders pattern right? so the trade will always be short?

looks like some good resources - definetly be looking at this. thanks, Jay.

very funny bet he got alot of stick

Techniques of Tape Reading by Irwin Trader's Edge Amazon.co.uk: Techniques of Tape Reading (Irwin Trader's Edge): Books: Vadym Graifer,Chris Schumacher

Hi Guys, Researching pivot points right now! when calculating we use the high price, low price and closing price of the previous day right? note: i'm using the soultrader pivot tool for tradestation. ta jay.

thanks guys, i've got tradestation now. I can see the difference with time and sales - how IB snapshots it. The data seems to come in a little quicker from tradestation which is interesting. I've spoken to guy at tradestation, apparently i can transfer my funds direct from IB to TS which is pretty cool. Thanks again guys I already feel more confident with the tradestation software. Ta Jay. ps. i've ordered a tape reading book which you recommend, so that will give me some good reading.

so, are you saying I can sign up with ts for 99$ to receive market data and use the software but still make trades through ib? - this would be ideal for the time being. i've been looking over ts software and the ability to write custom studies directly into program looks pretty cool .

hmm. thats a bit rubbish then. if i see a 50 or something come in it doesnt necessarily mean that - it could be made up of several small guys i always thought IB was generally the main broker out there. i dont really want to change brokers, but i guess if i want to learn this properly i have to find an accurate source. what broker do you use?

i got it from here: Replay and Scripting for Sierra

ok, i found it in Sierra Chart. Sierra allows you to add it as a study as a graph. However, I found a pretty cool third-party tool which lets me view it as you do in the videos - listing format as they come in. now i've just gotta make sense out of it all!