Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.
Soultrader
-
Content Count
3710 -
Joined
-
Last visited
-
Days Won
1
Everything posted by Soultrader
-
hahahaha.... I burst out laughing.
-
Im telling you Chris, it was Chuck Norris. Chuck Norris Facts
-
Torero, Im definitely looking into the financial calendar option. The alerts would be a great idea but not sure if this is possible. As for the clocks.... this is also an excellent idea. Not too sure where I would find such a feature. I may actually build it from scratch. I have a question: What country clocks would you need? And also could you tell me the opening time for each clock? Im totally clueless when it comes to forex. I may actually have a coder code this up.. and add alerts or something. Would be an interesting addition.
-
Thanks for the response guys and gals. I'll keep this original style... I agree its very easy on the eyes which I prefer the most. A economic calendar would be a great addition and I will look into this. For the blog, I currently have only one option available that can be integrated into this forum system. I'll give it a test run to see if its appropiate. Keep the suggestions coming.
-
Here's a quick list of the market players. I must of made this years ago when I used to day trade stocks. May need some updating. The Major Players: GSCO (Goldman Sachs) SBSH (Salomon Smith Barney) MSCO (Morgan Stanley) MASH (Mayer Schweitzer) MLCO (Merrill Lynch) HRZG (Herzog) PRUS (Prudential) LEHM (Lehman Brothers) FBCO (First Boston) HMQT (Hambrecht and Quist) NITE (Knight Securities) BEST (Bear Sterns) JPHQ (JP Morgan) UBSW (UBS Securities) BOFA (Bank of America) MONT (Montgomery Securities) HMQT (Hambricht & Quist) RSSF (Robertson Stephens) MASH (Meyers & Schwartz) PIPR (Piper Jaffray) ECN’S ARCA (Archipelago) ISLD (Island) ATTN (Attain) MKXT (MarketXT) BTRD (B-Trades Services) NTRD (NexTrade) BRUT (The Brass Utility) EDI (Redi Book) CINN (Inet) STRK (Strike) INCA (Instinet)
-
It's been quite a journey from a startup forum of 1 member (me, myself, and I) to having over 1100 members in approximately 5-6 months. I would love to hear some feedback and suggestions on how we can improve the site. Of course the first thing on my list is the chat room. Im still waiting for a newer chat room development that can be integregated into our forum system. I am also thinking of doing a complete makeover with the sites style. I do like the clean and simple layout. (I'm a simple guy! ) But I may want to do some customization. Couple of additional features I might want to add depending on member demand: 1. Would anyone like to have a personal blog system? 2. Perhaps a video section similar to youtube layout? 3. Maybe a economic calendar? Any ideas and suggestions are welcome.
-
Very interesting tape action Matdog. Couple of things I want to go over. It seems like the floor traders were looking for support at the test of the lows at 12418 - 12420. However, the locals get stuck on the wrong side trying to go long. This happens at times whenever the speaker mentions "Locals are stuck big time." However, the locals do not necessarily liquidate a losing position even though they are stuck on the wrong side. They see order flow and tend to hold for a few if they sense a reversal. Whats interesting is the big 10+ lot prints around 12410 to 12405 on the sell side. In this case I think the locals are actually selling to cut their losses. The speaker goes on to say "They are getting pounded out here." You can see the massive 10+ lots on the sell side from 12410 to 12405ish. Once that dried, paper came in huge to buy causing massive support. Witnessed by the 101 lot at 12408. All the supply disappeared around this level. You can tell how big traders were trying to find support the markets at 12420. There is a big 101 lot at 12420 on the buy side. From the observation of the tape.... if I was trading off the tape only I think I may have been stuck from 12420 as well. Even the locals got fooled. PS: next time try changing the dimensions on camstudio. The .swf gets cut off a little on both ends. Camstudio has its default dimensions when you make it into a video. You can change it when you are editting it to the actual size.
-
matdog, I dont think you uploaded any video. I dont see a link to it. Thanks
-
Introduce Yourself Here - Don't Be Shy!!
Soultrader replied to trading4life's topic in Beginners Forum
Welcome to Traders Laboratory brettrq. Glad to have you on board. Alot of emini traders here so hopefully you'll be able to learn some of the things we do. -
Ok rock.. now youre making me nervous. What did I do this time?
-
Very whipsaw environment today with decent intraday swings. Markets test the 12405 mark (just shy of 12400) below value to find NICE volume. It went on to lift into value and a last hour push out of value. Lets go over the levels. 12405 was dead low 12425 - 12430: no longer key here 12470: markets broke through it with ease 12515-12520: dead high for the day
-
Ive heard good things about that book. Might have to check it out. As for poker books... I have never read a single poker book. But been playing ever since I was in middle school. Thanks for the recommendation Texxas.
-
Yep. I should of made the more clear.
-
Just wanted to post some interesting levels for the YM today. I'm going to see how these levels play out today. Support: 12425-12430 12400 12350 Resistance: 12470 12520- 12525 12580 12600 Will post the results at these levels after the close. The 3 most important levels I will be watching today are 12470, 12425, 12400.
-
Amen to that. Risk before profits. I trading mentality is very similar to my poker mentality. When you're not sure if you can win the hand, let go. As long Im still holding chips, I can comeback: 1. Preservation of capital is number one 2. Looks are deceiving. Pocket queen's may actually be beat preflop. Even the best looking trading setups will have to pass at times. 3. The worst thing that can happen is to catch something on the flop with a mediocre hand. In other words, making profits with lucky mediocre setups will get me in a bad habit and hurt me in the long run. 4. Who cares if my opponent bluffs and wins a pot. Im not trying to prove him anything. In trading... divorce my ego. Trade to make money and not to be right. 5. "If you can't spot the sucker in the first 30 minutes.... you are the sucker". Have a professional mindset. Dont be the sheep. What would I do if I was a big shot floor trader? What price levels will I look at? etc... Just some rules and guidelines I live by.
-
Thank you Ant as well. Maybe this is somewhat off track but have you done any data mining on how many times the YM or ES makes a low/high in the first 60 minutes of trading? From observation only, this seems to happen very common. It would be interesting to see some stats on it... and to focus on a single pivot at the open for a reversal. (Im really horrible with all these programming stuff)
-
Ant, thank you for the excellent data. Very helpful for MP traders as I also tend to be super aggressive in the first 60 minutes. As a matter of fact, I hardly ever trade past the initial 60 minutes of trading. This is where the most opportunities exist in my opinion. I have a few questions regarding your exit points and range estimation. You mentioned you look to establish a position in the initial 60 minutes of trading. Do you tend to keep these positions throughout the doldrums and into the afternoon session? I am usually in and out of all my positions by 10:45am eastern. In Mind Over Markets, Dalton describes some techniques to measure the range after a potential high or low is established. I didn't accept this into my trading because it did not make much sense to me. Have often have you found this range estimation to work? This range estimation technique interests me because I tend to make multiple trades scaling out for 20-30 pts at a time. If I can apply this techinique into my trading, I may be able to hold on to a partial of my position longer. The only problem is... I have learned about various range estimation techniques but none of them seemed to be valid. It just never made any sense to me how one can predict the range for the day.
-
I definitely agree pipMonster. It's been a real pleasure to have Buk and Texxas on board. A ton of market wisdom and experience is reflected in all their posts. I also believe in the K.I.S.S. method. I also used to be apply fibs into my analysis but I have taken them off completely. I started using what makes sense to me and fibs are a little bit vodoo to me. I still do keep the 50% and 61.8% retracement areas in mind since price trends to bounce of these areas. Trading is simple but it sure aint easy.
-
Thank you for the clear explanation and charts Buk. I am also amazed at the power of the 00 psychological levels even with the futures market. The Dow especially respects these levels almost always. One pattern I like to trade around these 00 levels is a violation by a few ticks. For example, when the Dow violates the 00 by 5-7 ticks and then pushes back above the 00 level I like to establish longs for intraday trades. Regarding your exit points, do you usually scale out of your positions? You mentioned the use of pivots and fibs in your methodology. Do you also use fibs and pivots for exit targets? Do you think if a trader enters a trade based on a certain indicator (whether it is pivots, fibs, indicator signals, etc...) that his exit should also be based on the same indicator?
-
Thank you Buk for your extremely informative post. I do share similar methods of developing a trading plan based on key price levels. I have a question regarding your methods on identifying trend from consolidation. To determine if the current market is in trend or range, do you use a daily chart as your timeframe? What methods do you use to identify trend from range? I personally use Market Profile and higher/lower value placements. Thanks in advance. Soultrader
-
Nice chart Tin. I wasnt around today but just took a peek at that MP chart. Very interesting to see price rejection at 12531. I remember on Thursday we saw a late afternoon rally just to see price rejection around 580 and a push back towards 550 level. With this information today (rejection at 531) we are seeing serious seller domination. Another 100+ range day. Very interesting. I think for day traders, we will be seeing alot more trend days to the downside from now on. Just my humble opinion.
-
Hello Buk, Heard alot about you from Anna-Maria Welcome to Traders Laboratory. Very glad to have you here Buk. Will be looking forward to some interesting Forex discussions. I trade futures strictly but will try my best to keep up with the Forex Traders. Best Regards, James
-
I have to admit... it made me smile. Very good point redlew. How many times have false hope clouded our judgements? It's amazing when I know I am so wrong but yet I continue to search for clues of false hope. The mind definitely plays tricks on me. False hope and myself... we get along pretty well. These days I just talk to myself "Here goes that false hope again..."
-
Just wanted to explain some things I watch for before the trading session starts. Helps me prepare my trades and focus on shorts or longs only. CLICK HERE TO VIEW VIDEO Charts created by Tradestation Presented by Traders Laboratory
-
Nice one Tingull. I sense a market profile expert in the making?