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Soultrader

Market Wizard
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Everything posted by Soultrader

  1. Soultrader
    Hello Ant, I was going through my charts last night as well. From the bigger picture the markets does look consolidated. But does the 4 straight days of lower value placement warn you of any warning signals? Or would you consider this as a slight pullback of the overall trend? We are in a very interesting level. If the consecutive lower value placement indicates a pullback it does look like we found support indicated by the high volume on the daily chart (see attachment). This would offer plenty of long opportunities. However, if this lower value placement is a clear warning sign we need to be extra careful. It looks like volume has picked up the last few selling days.
  2. Soultrader
    This is a very simple video showing the various ways to play VAH and VAL pivot points. Very basic pivot point setups. I find these two pivots the most important pivots for my trading and offer plenty of trading opportunities. CLICK HERE TO VIEW VIDEO Charts created by Tradestation Presented by Traders Laboratory
  3. Soultrader
    Sorry guys.... been occupied a little bit the last two trading sessions. I have a friend currently visiting from the US so trying to spend as much time with her before she heads out. I'll be in the chat room all day tomorrow on Nov. 1st, 2006. Anyone interested please feel free to join me. Please post here if you can join the chat session tomorrow. Thanks
  4. Soultrader
    Gav, Mine seems to be working okay. Did you recently upgrade your platform? I had a problem in the past where I encountered a similar problem but once reinstall, it worked fine.
  5. Soultrader
    I'll keep an eye out on any further news. Its one thing I mention to traders migrating over to Tradestation.... their execution is not top notch. I like their software which is the only thing I use with Tradestation. Im not familiar with how NFA judges and makes their decision making on. But Tradestation is a respectable firm and it would be surprising for me to see them in violation of any regulations.
  6. Soultrader
    Thanks for the info Raul. How would it affect Tradestation users?
  7. Soultrader
    Ok guys. See you then.
  8. Soultrader
    Yes that is totally right. I due tend to watch for the of completion of each bar especially the first 3 opening bars. I find that in the opening, the faster the completion the more likely we will have a market with opportunities. For example. I like to see the first opening bar completed in 1 minute. At times it will take 3 minutes which indicates a lack of participation.
  9. Soultrader
    Cool. Thanks Jay, so far its been mostly word of mouth. We also started chat sessions so make sure to check that out if youre interested. James
  10. Soultrader
    Hello Jay, Welcome aboard. There is a wealth of good information on this forum so please feel free to ask any questions you might have. Ill be happy to help you out. Out of curiousity, how did you stumble on this forum? I dont do any advertisement so Im always curious to know. Thanks! Regards, James
  11. Soultrader
    I missed the trading session but was the exchange down? I never paid much attention to this but if the exchange is down, does that mean that Globex is down as well?
  12. Soultrader
    Sorry for missing the chat session today. Something came up and I was out most of the day. I will be in tomorrow on Oct. 31st, 2006 from 9:00am eastern. I might stay for the afternoon tomorrow as well. If anyone is interested please reply here. Thanks.
  13. Soultrader
    Sorry guys... something urgent came up and I wont be able to make it this morning. I totally didnt realize the clock got rewinded by one hour and had planned something from 10am eastern. I'll be there on Tuesday.
  14. Soultrader
    John Carter has a great trading room but geared more towards emini's. Hubert is teaching most of the time and they do not go into Level II at all. If you're looking to trade the eminis the trading room is great. If you're into stocks perhaps look towards some of the channels provided in themarketvushow.com or Linda Raschke's room.
  15. Soultrader
    Hello Ramzes, Welcome aboad! You are basically looking for a demo trading account. There are several brokers that provide a demo account like Cybertrader with delayed quotes. I am not familiar with a real-time demo account but I am sure other traders in this forum can provide you good information regarding this matter. From my understanding most real-time data will cost you fees. I pay approximately $100 for data fees and another $100 for software fees every month. Soultrader
  16. Soultrader
    The ES is one way to hedge it. If you're short the YM and the exchange goes down, just go long the ES. They move identical to each other so by the time the exchange goes back up, you'll most likely be break even. You can avoid a large loss this way. Perhaps you can hedge by taking some positions in some ETF's as well. The QQQQ's or the SMH might be good for a hedge. I've never traded options so I would not know.
  17. Soultrader
    Cant help you there gr8pcman... I personally do not know of any 1on1 mentorship program that will visit your home. There are a ton of online mentorship or trading rooms that you can join. Trading workshops also exits but they are very costly in the range of several thousand dollars.
  18. Soultrader
    Very interesting question Michele. What makes trading so interesting is the way each individual trader interprets the same exact information differently. In reply to your first question: I personally paid more attention to the value high cluster of the 23rd and 24th at around 12170 on the YM. The 23rd was a significant trend to the upside. If you refer to this bracket, this would place the bracket from 12026 (10/23 low) to 12180 (10/24 high). However, this is not the way I interpreted the markets. If you take a look at the action from 10/18 to 10/20 price is trading in a zone from 12000 to 12100. Therefore the lower bracket of the new zone as price broke above on 10/23 became 12100. Therefore the range was 12100 to 12180 for me. I hope I didnt lose you here... Your second question regarding the 27th: True prices did test the POC of 10/25. However, this was not part of my analysis. Price simply tested the S1 pivot in my opinion (a favorite pivot among floor traders and professionals). Looking at the bigger picture, a WARNING signal would be a break below 12100 the established lower range of the new zone. Then down towards 12000. Do not confuse WARNING with an official downtrend. Fridays action to me just looks like price rotated back from the upper range towards the lower range. Although we had an afernoon decline below value we are still accepted in the value area from 10/23 and 10/25. Not too bearish in my opinion. On the daily charts, Fridays action was part of a pullback from the nice trend we are having from July.
  19. Soultrader
    Very interesting comments guys. A trader clearly needs to understand why is he trading and what he wants out of trading. Feb and Ez... your comments contain strong beliefs on how you view trading. As I gain more experience trading, I appreciate whatever amount of dollars the markets can give me more and more. I am definitely not emotional as I used to be when missing a move. My daily goal is 30 YM points and I am 100% satisfied with getting just that. Good thing you mentioned this Raul. I also firmly believe in this. Two things I can always rely on will be S&R levels or pivots and tape. As long as a trader has these two skillset on lock, with the proper money management one can expect longevity in trading. Its interesting how plain simple methods will never get old.
  20. Soultrader
    I try to add videos whenever I get a chance. Live recordings are a little tough especially when Im trying to concentrate 100% on the trade.
  21. Soultrader
    Ok torero. See you on Tuesday.
  22. Soultrader
    ahh.. you use a Mac. That could be the problem. They dont allow downloads which is unfortunate. Otherwise I would just send them to you myself.
  23. Soultrader
    Very true torero. Although I have exit rules of partialling out, I must admit I still exit too fast at times. One dillemma I currently have is based on singles vs homeruns. I have rules of partialling out 3/4 of my position. The problem lies in the last quarter position. After capturing 20 points on the YM, I try to aim for 30-50 points on my last quarter position. The problem is that such moves are the exception and not the norm. Everytime I try to hold onto my last quarter position, the markets will tend to reverse. This loses two opportunities in my opinion: 1. Paper profits disappearing. 2. Can not get in on the reversal since I am trying to ride out a trade. However, when I try to exit my last final positon discretionary at +20-30 points, I often miss the big moves of 70+. Just another classic example of trading emotions in play. Greed plays bigger role than fear for me.
  24. Soultrader
    Very interesting.... on Friday, the ER2 seemed to be leading the YM. I noticed the moves are fast on the ER2. The YM feels like a 100 ton bull being dragged by a few men. I'm going to be paying attention to the ER2 more carefully.. will post any insights observations I may found.
  25. Soultrader
    Very true about the afternoon session being a continuation of the opening session. In the YM I have seen reversal take place in the morning while continuations take place in the afternoon. Higher highs/higher lows & lower highs/lower lows...... one of the best concepts I learned early in my career as well. Thanks for sharing torero.
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