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jfw215
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Everything posted by jfw215
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Hi all, I have read Thales since the beginning of this thread. I feel a bit down right now that after all these years i'm still not consistently trading. I am up slightly this year (first year ever) due to a nice swing trade. I am curious if anyone here have reached consistency using the 123 trading method. Midknight? Cory? Niko? Your sincere comments will be appreciated. Best, J
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Cory you are doing fine man. the market is just choppy today. I thought about going long there too but range is tight and no 123. if u change ur strat and tomorrow it runs 100+pip u will be banging your head again.. i'm on the same boat... needa work on better exit. enjoy your drink man. J
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nice short.. i closed my long on that 123 trigger.. didnt short though.. looking good
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hi thales.. i am a bit surprised you'd advice on getting in early. when u mean anticipate the break of 2 do u mean getting in somwhere in the blue shaded area or before even that
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Hi Cory, You are one committed mofo... good stuff on the posts... i've been doing 123 (15m) also on the eu for almost 9months now... my pnl since live has been about BE for the last 2 months and finally took a up swing (doesn't mean it'll continue lol.. who knows) i gotta say this stuff is damn frustrating and only when i trade with ZERO expectation do i do well. not sure how your BE stops are doing.. i found that its best not to do it until a swing is completed. this is harder said then done due to the psych needs but at this point i am more infuriated with a BE tag out then with a full stop... good luck.. and keep fucking that chicken... J
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keeping that kind of performance up you will soon enough! cheers JW
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Hi Cory, Good long there.. that move caught me off guard.. my short was stopped where you entered the long. btw are you cash now? Cheers JW
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Thales, Thanks for your reply. hope you come back soon
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Hi Thales, I was referred to your thread here by a friend. I finished reading it from start to finish. I want to thank you for your contribution here. Your thoughts on money management and trade entry techniques have been very helpful to me. This has been the best thread I've read anywhere!!! Are you active posting on another thread or on your blog now? JW
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DB, Does it matter if what kind of chart you're drawing channels on? ie. range, tick, minutes, days, etc? I thought the more conventional the chart the better right? ie. daily, hourly, 5m, etc I'm asking bc Wj is using a 20tick range chart. Thanks JW
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Thanks Db. For today, I'm looking at 53, 40, and 30. Longs are more favorable since its an uptrend.
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I didn't get enough sleep last night. Ended up shorting 39.25 in the morning but closed myself out for BE.. What a shame.. No sleep = no preparation = fear = no disicpline = no profit. Anyways, For tomorrow, I'm a bit confused. We have pivots now at 1740, 1730, 1717, 1708. They are all so close together. Depending on AH action, I'll have a better idea what to do tomorrow. DB, I just read your instructions are how to draw demand/supply lines. It makes so much more sense to me now. I included then in both my daily and 10k anchor charts.
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Hi Db, I totally agree, the short would not be as optimal trade as the long in the morning for all the reasons you stated. The trade would totally be a bet that 30 would hold as R, kinda like a coin flip. I considered shorting it after waiting for the double top that occurred later in the day with vol divergence. It looked like no one was willing to take the ask when we broke the prior high established in the morning. I don't wanna get into hindsight trading either. Let's see how tomorrow plays out. BTW, do you find Friday before Columbus Day to be historically a slow day?
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Today NQ did exactly as pre-planned. I tried longing the 12 area but didnt get a fill. Then I skipped the short of the 30 area because the trend was up. Looking back, next time I'll take that trade. For tomorrow, it's pretty much the same, trading range between 1712-1730. However, Monday is Columbus Day so I expect some light volume action. I'll be looking to fade the range and using the midepoint area for scaling exit.
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Ok, we broke out of the 1712 level, I'm looking to short 1730 area and long any retest of the 1712-1708 area tomorrow. This gives me a nice 20 pt trading range to work with. I think this is pretty straight forward. EDIT: There's a midline from prior trading range at 1719 (check dotted line on chart). I may look for long of that area as well. We have to see what happens in the globex session. DB, let me know if I missed something
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Hi DB, I may have been lost in the trees a bit. Thanks for that nice longer picture view.
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DubJ, I like your thinking. I think if we do form a triangle and then breakout to the upside I'll be looking for a pullback long (like today's 82 long). Who scolded u lol... I didn't see anything in the chat. Don't feel bad, I took that long off ES today but didn't close out and ended up making 1 tick (commission + lunch yah!). I thought the low 50's area in ES would hold as support but I guess I was wrong. Also, being unicar doesn't help at all. I'm actually switching over to NQ so I can scale out. If no triangle, I'll be shorting 1712's too (depending on globex). Cheers JW
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Hi DB, Thanks for your input. I highly appreciate your thoughts. You're one of few people that have really helped me to understand market behavior and price action trading. Playing the 1712 to 1685 range is definitely an option I'll keep open. How did I not notice the trading range starring me in the face. If vol is light tomorrow, I will look to fade these pivots with proper setup (5sec vol and tick div). My only concern is NQ may be doing a small triangle and if that happens I would rather not be shorting lower and lower nor buying higher and higher (inside the 1685-1712 range). If we do form an triangle and it breaks out one way or the other, I would not want to fade the current trading range but rather look for a pullback after breakout. Of course, if we don't form a triangle then fading the range it is! I guess this all depends on how globex plays out tonight. For me, one of the most important aspect of trading is planning out all the potential moves so that when the times comes I can act without hesitation. Thanks again for all the time and dedication you've put into this board. Cheers JW
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Ok, here's what I'm looking at for tomorrow. The 10k volume chart had formed a bull flag. If 1712 breaks to the upside I'm looking for a long. However, we are also forming a smaller triangle and I don't want to fade this triangle as the R:R would be low. I would be willing to take the breakout of the triangle to the downside say flipping 1680 to R. Those are my only 2 plays tomorrow.
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thanks Suri. What scenarios are you going to play on GLD?
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Hi, Attached is a daily chart of GLD and Dollar (UUP). As you can see in gold, we just gapped above a huge resistance level on high volume. I am thinking of buying gold if I also see the dollar break below its intermediate support level (the blue line). I am curious to hear what other aspects you guys will look at if you were to look at this trade. Thanks JW
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hi wjrusnak , do you know where I can download the pricehistogram indicator used on your charts? I'm having trouble finding this type of indicator that would work on historical data in NT. If anyone else has suggestions, I'm all ears. Thanks. JW
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Hi wjrusnak Awesome trade! I'm curious do you also have vol loaded on your 1t chart?
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This thread is awesome and really goes well with my trading style. Attached is my NQ anchor for tomorrow. We all know the 75 is our most immediate resistance level. 60 and 50 are the 2 support levels down. I am planning on buying pullback if 75 gets taken out on good volume and short 60 if that gets taken out to the downside. However, we are in a mini downtrend and could also get a reversal at 75 to 80 area so I must becareful and watch out for reversal if I do go long above the 75 area. The 50 area may offer good long opportunity, but I'd better see some strong tick/vol divergence if I am going to take a stab at buying it since it could easily range extend lower. In the AH session, NQ bounced off 60 support and haven't yet reached 75 area. ES was able to reach Friday's high and was rejected. Something tells me that a short around the 75-80 area would probably play out best (based on both ES and NQ) but I can't point out the exact reason why. DB, just curious, do you have a minimum target for your trades? For the NQ trades I described for tomorrow, I have 10 point minimum targets that I want to achieve. I try to keep all my trades with 5x+ RR. Thanks JW