Soultrader

The TICK Delta shows the number of contracts at the bid vs ask. The greater of the two comes on top. So if you have more contracts at the ask this will appear with a green bar on top of the red. Watch them at key S&R levels. Become familiar with through observation because there is alot more you can use it for.

A few great trading quotes that was recently emailed to me. "When I'm wrong, I move on. Being stubborn as a trader is a sign of both immaturity and inexperience - two of which are the enemy of good performance. No matter what your skill level may be, you are going to be wrong lots of times. But, as the Wall Street maxim goes - good traders know how to make money, but great traders know how to take a loss." - Soros Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money." - Bruce Kovner "We must remember that when markets go parabolic (and they do indeed go parabolic from time to time) it is important to remember one of our oldest trading aphorisms: that the final 10% of the time frame of a bull market can, and often will, encompass 50-75% of the price movement. We may be in that environment now." - Dennis Gartman I would like to start a contest for good trading quotes. Post your favorite trading quotes and nominated threads will then get voted. Winner and runner up will win Amazon gift certificates. 3 quotes per member maximum. If there is a duplicate, the first person who posted it will be voted for.Deadline is end of the month. Enjoy!

Exit Method: Fixed Targets & Tape PRO'S: Exit at first warnings. Easy to spot sellers. CON'S: Tendency to exit too earlier. Will not sit through pullbacks majority of the time. COMMENT: One really needs to understand the tape of the contract he trades. The ability to see the action behind each price level is important.

The mini Nikkei traded at the OSE is alot more liquid compared to the Simex. The Simex is handy though to look at market action premarket before the Osaka Exchange opens and during the lunch hours when the OSE halts.

What happened that day was interesting. Both the buyers and sellers stepped off the bid/ask. Usually the bid/ask is 1000+ cars thick. Approx 2 minutes before the numbers this thickness decreased to less than 20-30 cars at the bid/ask. The moment numbers came out, buyers just withdraw their bids dropping prices over approx 32 ticks. I am not sure how many lots traded at each price on the decline but i am assuming it wasnt alot until it hit below 111. After that it was a full on rally that continued on the rest of the day and the following. The bonds are currently trading above a key resistance at the moment and I am looking for longs today.

Sure, I can make one. I only use one strategy based on MP so far but works effectively. I find it important to analyze the bigger timeframes with the bonds even with intraday trading. Never countertrend. If bonds open above value, go with the flow. If below, go with the flow.

Yea, Monday was pretty dull especially after the first 60 minutes. I took 25pts for the day but that was off 5 trades. So pretty much scalping entirely. The YM has been choppy lately. Alot better to swing trade it imo.

This book was recommended by a fellow trader MrPaul. It is not a trading book but something every trader should pick up and read. The book focuses on two types of mindsets: the fixed mindest and the growth mindset. Have you hit a wall in your trading? Do you feel like you know everything about the market and unwilling to change or enhance your skills? Maybe you are currently stuck in the fixed mindset in trading. Carol Dweck presents various examples of fixed vs growth mindsets from relationship, students, teachers, althetes, coaches, etc... I found this book very valuable and highly recommend for anyone. I personally found alot of similarity in teacings from NLP such as self evaluation, feedback, appreciate of effort, internal voices, etc... Overall a good read for a good price.

Once a area of resistance is taken out, the shorts who sold are in pain. As prices come back to their entry point they will most likely cover to limit their losses. Also, the shorts who planned to sell at resistance but did not are no longer thinking of shorting. Instead, they are likely to switch from a short to long mindset. This throws in another group of buy orders at that price level. Combine that with traders who love to buy pullbacks and you have buy orders from different traders across the board. This will cause resistance to become support. Once you got the late shorts covering at a loss and momentum traders joining in, price is going to rally until the late comers appear. My 2cents

The current market condition has really made me a scalper. I am liking the bond markets alot better at the moment compared to the indexes. notouch: Great stuff there you got on the YM. I still remember the day you went long.

lol omg. Today sucked with the indexes and even with the bonds. Anyone feeling like the indexes are not the ideal place for day traders at the moment? I had to scalp all morning for 7-10 ticks a trade.

Thank you

Hi swisstrader, Do you mind if you share that .eld file? Thanks

The green means contracts at the ask and the red means contracts at the bid. So in a fast market, you may see alot of market orders at the bid indicating panic selling. After a decline, look for contracts at the ask which would indicate short covering. White prints are transactions that take place in between the bid and ask. It may sound off since the YM trades at 1 pt intervals. But let's say the bid is @ 17000 and the ask is @ 17002. A trader sends a market order to buy but is filled at 17001. This 17001 print would show in white. I believe the + and - signals are just indicating whether the current print was a uptick vs downtick from the previous print. Hope this helps.

Heres a list of all the SSF's from OneChicago: OneChicago - SSF Listing

Its the TA version. Its real basic TA stuff. Thomas N. Bulkowski's "Encyclopedia of Chart Patterns" might be a better pick. With fundamental related books, I did enjoy all of Benjamin Graham's book.

I was thinking CEO for a seperate business from trading. Im going to incorporate this website so I am trying to decide what I should put.

Thanks for pointing that out. I fixed all 3 links.

Is it appropiate to put two titles in one card? Such as CEO and Derivatives Trader? It'll be one for trading and one for a business.

Definitely check Kyoto for the tourist stuff. You'll get to see alot of Japanese shrines and temples. Osaka is also a fun city to go to have some fun. Theres also a couple bay area spots right around the city of Tokyo which may be worth visiting. (Odaiba, Yokohama)

morning session: 9:30am to around 11:00am The markets usually die out during the lunch hours and then it picks up again around 2:00pm to 4:00pm.

I base it on the overall market health and then recognizing intraday market patterns. Also know which cycle the markets are in.

Heres a portion of my workspace. I have another screen and system on the far right which is missing from the pic.

They should have a MP package with TPO's. I've used it in the past.

Quick video explaining the use of fib retracements in real-time trading. CLICK HERE TO VIEW VIDEO Charts created by Tradestation