Soultrader

Hey Nick, Have you looked into time based reversals. For example on the YM how often do we see reversals around 10:00am EST to 10:30am EST. Check for volume drying up and you can expect a reversal around these times. For the afernoon, the markets will usually continue in the initial morning direction or turn around. This tends to occur after 1:30pm EST to 3:00pm EST. You can build some type of reversal strategy in this period. If volume is your main source I suggest paying careful attention to decreasing volume especially on lower lows.

I became an avid student of NLP to help me overcome some of the challenges in my life. I have to say that when practiced correctly and with determination, NLP can help you grow as a person. But before anyone dwells into NLP, you must understand what weaknesses or area you want to improve. If you are still new to NLP, I recommend grabbing the intro book "NLP: The New Technology of Achievement". Perhaps even Anthony Robbin's books can be of interested for those interested in NLP. Also for a period of 1 month, you can get trained in Zurich or NY to get a NLP practitioners license. Google "NLP" and you will get plenty of resources on this subject.

Hi ulad, Check Alex Benjamin's site out at: The TradingClinic

Very interest waveslider. Dalton also referred to these areas as balance areas. Basically, if the distance between two dotted lines become shorter price is balancing out. Hence, if you are long/short you would want to look for an exit. In a healthy trend, the distance between the dotted lines should not get shorter. Just something that might be helpful

Recently, I had an opportunity to talk with the head trader for a big investment bank. I thought I would share some insights. The style of this trading team is 100% discretionary. The head trader's core methodology was market profile, which was very surprising for a Japanese trader trading equities. One of the things he mentioned was that it was impossible to predict stock prices. Price may decline or lift on no news. So why does price move? Fair value in the sense of value area. Simply put, buyers and sellers do not agree on price and will rotate price until it has found balance. Thus, market profile traders call higher/lower value placements a TREND. Now, what I found particulary interesting was his style of trading. He barely used charts or even a market profile chart. He could visualize a MP chart just by glancing at a bar/candlestick chart. He was also more interested in analyzing different sectors. What stayed strong and what stayed weak? Also, the % loss/gain for stocks. He would track approx 700 stocks. His main interest was knowing how much % stocks in certain sectors were up/down compared to stocks in other sectors. From my understanding, he was measuring relative strength/weakness. He was also a hardcore contrarion. For example, he mentioned how the public thought insurance companies would go bust with the incidents of 9-11 and Hurrican Catrina. Insurance stocks did plumment on news. However, these insurance companies must charge a higher rate after the incidents. Hence, leading to profitability. Therefore one of the things he watches for is to buy insurance stocks after an overreaction on bad news. He also mixes alot of intermarket analysis which I had trouble following. He would watch markets in Chile to determine which stocks would get affected in Japan, etc... Overall I found his methodology quite fascinating and advanced. It reminded me of mixture of Dalton, Livermore, and Murphy. One of the things I am interested in learning more about is intermarket analysis. Does any of you use it in your trading? Any resources that I can look into?

Quick video on simple levels, internals to watch for on reversal setups. Classic textbook stuff such as low volume tests, gap fills, LOD, and higher lows on TICK. CLICK HERE TO VIEW VIDEO Charts created by Tradestation

I agree. Alot more runaway and breakaway gaps at the moment.

Go for it weiwei Should be fun.

Nihabaashii had a great post on market/seasonal cycles somewhere. You might want to go through his posts.

I will shoot him a email to see if he's interested. Thanks.

Watch the current 3 day range on the YM. Currently trading at decent support area around 13550 ish. Also near the 50% retracement from 5/18.

Hey brownsfan, I sent you the email. Let me know if you did not receive it yet.

Im a mixture of 1 and 3 except I dont increase size. Depending on the area of S&R, I may have a stop double the size so it will reverse my position.

Okay gotcha. I'll see if I can fix this myself. If not, please give me a week when we relaunch the site. We will be upgrading the system as well so should be fixed. Thanks

hehe.. im not there at the moment. I should find out by the end of the month where Im going to be at. Its either prop trading, day trading on my own, or hedge fund.

I prefer Jazz or any lounge music. I love instrumentals.

I had some experience prop trading for a bank. But this is alot different from prop trading firms. From my experience, everything was automated. I was on a trial basis for a period of time but the head of trading had told me that I was the first discretionary trader they had seen. I never saw my boss (head trader) actually execute an order. All I saw was sound alerts like every 10 minutes and automated execution. The main strategy seemed to be arbitrage trying to take a tick here and there. Btw.. this bank I was at did 10% of the total volume on the Nikkei. So imagine all the sound alerts going on everywhere. My first day there was quite an experience. It was my first time seeing the Nikkei futures. One of the things that stunned me was that the Nikkei was tanking early in the morning. However, I saw a trader continously buying on the way down. From my day trading mentality.... I could not understand what he was doing. It seemed like he was simply fighting the market. The Nikkei dropped about 10 ticks... and he bought all the way down. By the close, the markets rallied over 20 ticks from the lows to make new intraday highs. Its really a whole new different way these guys trade.

Very weird. I tested it on 3 seperate accounts and none of them seem to have any problem. Brownsfan, does the error message appear once you input the new password and email? Or does it apear as soon as you click edit email? We are also making some core changes to the system files at the moment to get ready for the web redesign. It may be the problem as well. Can you do me a favor and try again? If you still get the message, I will talk to my coder to see what the problem is. Thanks

Yea.. I personally preferred campfire too. I tried to go high tech but it was obvious ppl preferred campfire due to the ease of use. Also, tradingrooms forced my computer to act slow which was the main reason I could not drop by as often. Im also doing a little prop trading at the moment and do not trade the US markets. But when I do get a chance, I will stop by whenever I can.

Can you pm me your email. The one I have on record seems to be invalid? Thanks

Please join us at the new chat room: https://traderslab.campfirenow.com/d1a44 Premium members should of received an email regarding member status to the chat room. Thanks!

I just emailed the guys so I'll get it re-opened once I hear back from them. Thanks

Gotcha. I'll consider reopening campfire.

Hey guys, Heres a question. Would you prefer campfire? It was alot more active when we stuck with campfire.

A few more quotes that I just received in the mail: A good trader has to have three things: a chronic inability to accept things at face value, to feel continuously unsettled, and to have humility. - Michael Steinhardt Your emotions are often a reverse indicator of what you ought to be doing. - John F. Hindelong (Dillon, Reed) The greatest good you can do for another is not just to share your riches, but to reveal to him his own. - Benjamin Disraeli, British prime minister, 1804-1881 Successful innovation is not a feat of intellect, but of will. - Joseph A. Schumpeter (Austrian-American economist, Theory of Economic Development, 1883-1950) The world has changed! You can' be an 800-pound gorilla; you need to be an economic gazelle. You've got to be able to change directions quickly. - Mark Breier (The 10-Second Internet Manager)