Soultrader

Hey wsam29, Welcome to Traders Laboratory. I always love the trader war stories. I have plenty of battle scars myself. Good to hear you trade the YM also... would love to hear your input on it. Happy Trading. Soultrader

Thank you for sharing this with us Ant. I am quite surprised with the numbers. Very reliable indeed. I have also started trading the ER2. At first I was hesitant but its actually not bad at all. The ER2 data for 2006: High/Low in first 30 mins: 142 out of 251 days or 56.57% High/Low In first 60 mins: 193 out of 251 days or 76.89% This is insane... very very powerful piece of information. Time to build more setups

Wsam29, Thats how I would define a token print also. The 1-2 prints that gets rejected quickly.

What is a TICK? A TICK is the number of NYSE upticking stocks vs downticking stocks. If 1000 stocks are upticking and 600 stocks are downticking you will get a TICK reading of + 400. The TICK is a useful market internal tool to gauge market sentiment, design trading strategies, to prevent one from chasing, etc... Traders use the TICK in various ways: some choose to fade TICK extremes, others use it to confirm market direction, and others incorporate the TICK into their trading setups. In this article, I want to go over some of the TICK strategies and methods I personally use in my trading. TICK HOOK Let's begin with a TICK hook. The difference between a candlestick TICK chart and a line on close TICK chart is the visual TICK hook. A TICK hook is shaped like a "V" or an inverted V similar to a "N". At times they may look like a "W" or a "M". A line on close TICK chart shows this visually. Take a look below: The yellow arrows point out some examples of TICK hooks. I use TICK hooks to enter as well as to exit. An entry would be made when the TICK's make a "V" or "W" hook. An exit would be at a "N" or "M" hook. TICK hooks also help a trader from chasing the market and timing a pullback. Instead of entering when the TICK's are at the upper range, wait for a retrace on the TICK and enter on a hook. TICK FADES A TICK fade is a common strategy used by many traders. The key here is to understand which TICK hook to fade. If TICK's remain above the zero line, you do not want ot be fading a TICK hook at the upper range. A TICK spending the majority of its time above zero indicates bullish internals. A TICK strategy in such an environment is to fade the lower TICK hook's. Below is an example of a TICK fade. First thing you need to do is to wait for the TICK's to create a range. Once the TICK has placed its low and high, simply draw a horizontal line at both extremes. This the TICK range. Notice the two red horizontal lines on the chart above. Whenever the TICK's reach either side of the range, you fade the TICK. TICK fades are a little tricky at first to master. You need to create several rules in order to apply it to your trading strategies. For example, TICK fades on both sides work in a rangebound market. In a uptrending market you do not want to be fading a TICK hook at the upper range. Vice versa in a downtrending market. Play around with it and you will eventually start adding your own filters to TICK fades. A second example is a TICK fade at an extreme reading. Traders will often fade extreme TICK readings of +1000, -1000, +1200, and -1200. I personally like to fade the extreme negative readings of -1000 and -1200. The markets will often bounce for a quick scalp. What about the positive extreme readings? I often find price to pullback and lift further after an extreme positive TICK reading. Take a look at the chart below. The bottom chart shows a 1 minute candlestick TICK chart. The yellow arrows represents the TICK extreme readings of +1000 and more. On the price chart above, the yellow arrows indicate the same time the TICK's reached the extreme +1000 readings. Notice how price advanced and a TICK fade would of not worked. One strategy I use is to wait for a pullback after a extreme positive TICK reading and enter on a TICK hook. TICK fades and TICK hooks are in no way exact science. Understanding market internals and market direction is important in increasing your probabilties of a winning trade using the TICK's. Observation and experience is key. New TICK Low's and High's In a trending environment I like to watch for a new TICK high/low to exit a position or to play a counter trend setup. In an uptrending market, a new TICK low can offer warning signals for a possible trend reversal. First thing is to bracket the TICK's after it has established its high and low range. Any violation below the lower range is a new TICK low. Take a look at the chart below. The ER2 was in a steady uptrend all throughout the morning and lunch hours. A new TICK low hit indicated by the yellow arrow on both panels. The ER2 then went to decline for approx 4 points. Also notice the break in the trendline. If I am in a long position, a new TICK low is usually an exit signal even if price has not yet reached my target. The way I see it is that there is a shift in market sentiment and a clear warning signal for longs. For a counter trend setup, in an uptrending market I would wait for a new TICK low and then short on a retracement in price or the TICK's. I consider this a conservative counter trend setup. Bullish and Bearish TICK's What are bullish TICK's? A bullish TICK occurs when the TICK's spend the majority of their time above zero. If the TICK's spend most of their time above zero in the morning session there is a good chance price will continue its uptrend. Take a look at the chart below. Notice on January 19th, the TICK's spent the majority of the time above zero in the morning session. Also notice the uptrend in price. There is a good chance price will continue its trend which was the case in this example as price continued its uptrend in the afernoon session. When Bullish Tick's occur, you want to stay away from any shorts because you are fighting the trend. This is a great example when you should not be fading a positive TICK reading of +1000 or more. What is a Bearish TICK? A bearish TICK is the exact opposite of a bullish TICK. TICK's spend more time below the zero line. However, a bearish TICK is not as obvious as a Bullish TICK. This is because TICK's tend to trade above and below the zero line even during a downtrend. It is extremely rare to see TICK's trading below the zero line the entire time. Take a look at the chart below. In this chart notice how the TICK's spend more time trading below zero in the morning session. This indicates bearishness and price declined. In the morning session, if TICK's make a "N" or "M" hook at the zero line and fail to break above zero, this indicates tremendous bearishness. Final Thoughts These are just some examples of TICK's in action. The best thing for any trader to do before applying it into your trading strategy is to observe, learn, and practice first. After you get used to trading with the TICK's, be creative and start developing more complex strategies using TICK hooks, TICK fades, etc... I combine TICK hooks at pivots. I also have an opening setup that I use combining TICK's and tape. I hope this article gives a brief idea for those new to TICK's or for those who have yet to apply the TICK's into their trading. Happy trading Soultrader

I recently started the ER2. I must say I like it very much. Its definitely good to expand once you are comfortable with one market. This way you can squeeze out more opportunities. I traded YM strictly but with the ER2 now, I can simply switch when the YM is dull... which has been the case this month.

hmm looks like the bape logo

Hello Bocatrader, Welcome to Traders Laboratory and thank you for the very descriptive introduction Some funny comments about TS and OJ's glove. I wish they would have the Traders Exp in Tokyo sometime.. would love to check it out at least once. Im glad you find the site useful. GREAT members here. I'll see you around the forums. Regards, James

Hello Dr Who, Definitely going to look into the page load time. Since we are in Japan.... Hikari!!! FASTTT. Also to disable email notification go to My Account > Edit Options > Default Thread Subscription Mode. Set it to unsubscribe.

Thanks Buk. Ill keep making some adjustments this week to lighten the server load. I will also look into upgrading my server. Will need to spend some time researching it and shopping around.

Hey Bukk and Robert, Are you still experiencing delay in the site? I disabled some unnecessary features and repaired the MySQL database. The site runs fine from my computer. Yesterday I was installing a blog system which caused the site to shut down temporarily and remain slow. Please let me know if the delay is still there... I may need to upgrade my server. Thanks

Never been to China Matdog. All you need is a computer and high speed internet connection to trade. Heck, if I had a yawt Ill trade from there.

Just a simple video with a basic trendline and TICK's. A good signal to exit longs or even to initiate a short position. A purely countertrend trade setup. CLICK HERE TO VIEW VIDEO Charts created by Tradestation Presented by Traders Laboratory

Thank you pivotprofiler. Yea I should of mentioned that I dont use traditional pivot point formulas.. been using my own for a while now that I tend to forget. Very interesting to see pivot magic with currencies as well. I understand alot of currency traders rely on pivots but am amazed at how some of the pivot point strategies are very similar to the ones I use in the futures market.

Thank you very much Robert. They are very nice. Excellent work! They are going up and live on the forums.

Hi Bocatrader, I am also a TS user. You'll really start loving it once you figure out all the functionality. I cant switch to any other platform. Plenty of good indicators for free in the custom indicator forum so make sure you check them out as well.

Blog system is officially up

Thanks Robert. I have Adobe Photoshop also but have no idea how to use it. I would love to get some of your icons here on the forums

Thank you Robert. Matching sounds like the best idea. I do appreciate.... Im not coder or web designer myself so I tend to receive alot of help organizing the site from my members Once again, thanks!

Welcome Don. Great to have you on board. I really love the quality and the attitude on this board Ill see you around the forums. Soultrader

I will try to get a blog sytem up this week. There is currently only one option available that can be integrated into this forum system. Its nothing fancy but will allow users to keep personal blogs private or public with some customization.

Hi Pivot, I had a chance to discuss the idea of news alert and forex clocks on my site. I would need to get some serious coders to put this on. Plus the cost of it can run a little steep. I do like the idea of it so I may eventually add it in the future. With the video section, I am looking around for a better way to post videos. The current option is for members to attach it in a .swf file using our attachment feature. Im currently testing out a youtube looking script for the site. If it can be integrated I may apply it.. if not I will have to take it off. Thanks for the feedbacks

Hello Robert, did you make those icons? I like them alot. Is it possible to make one blue instead? I may want to do black and blue for new and old postings. Thanks

I never really considered it... isnt the Big Dow not as liquid yet? I may have to look into that.

I doubt it sudha78. Real time data that I know of costs exchange fees.

Hi PivotProfiler, The first column is all transactions and the second one is 10 lots or more. Hope that clears it up.