HAKUNA

First and foremost he has to learn to respect others, he marched in here declaring, Nobody is making any money via trading All who use computers are most likely under 30 and engaged in junior school BS. How is that helpful. An experienced matured guy would not display such behavior. Ask yourself this: why is he so eager to embrace negative reviews of a methodology which he has not taken any trouble to understand whereas any positive posts or comments here are BS. How does understanding Taylor make me a genius, where is the logic in that? I have already stated that Richbois and WHY? have provided great insights on the Taylor thread here i.e I have learnt a lot from their input. Now he talks about simple chart reading and point and figure charting, If he took the slightest effort to consult Wyckoff he would realise that Wyckoff is nothing but that.

As monad pointed out, you are assuming a lot, why is that anybody who knows how to use a computer is under 30 and that all in here are engaged in junior high school BS. You have used a load of indicators, I know every price based indicator inside out. Have you made any attempt to understand price/vol dynamics as per Wyckoff who afterall never had a computer and did not use any maths indicators. Secondly you have read reviews on Taylor's book on Amazon.com , why is it that those comments appear credible to you whereas any comments here appear as BS. Taylor's book is a difficult read , hence most give up, why? because it is hard work. and devoid of any indicators. There are concepts ie. how markets are manipulated which have to be assimilated just as in Wyckoff, to understand why and how price behaves as it does. Go through Taylor's site in here, understand what Richbois and WHY? have to say on the subject, learn, study, put in effort and then watch how the market unfolds each day as per the rules. I have done just that for the past 7-8 months. BTW have been in this business for over 15yrs and am definitely not under 30, infact am trying to encourage my graduated sons to learn this business at least on part time basis now and in future there is always the option to engage fulltime if they ever felt they had enough working for others. You do not require a Ph.D to operate a simple charting pack like sierra from Infinity brokerage on a computer and study price/vol behavior nor you have to be under 30:)) I sympathise with your loss, but what was the need to get into program trading via Tradestation. Keep it Simple

Agreed, When you wear yellow tinted glasses you see the world as yellow when one is a failure in life , the mind projects that scenario on to external world , way of venting frustration and anger as to why the world did not provide the right solution and at the right time:(

Look forward to Daxmini

Look forward to that, presume it will be on this thread, are you trading index futures intraday or stock futures.

elovemer, Yes it was globex high, presume you do not take into account the globex session and focus only on the day session. Wonder if you took that short, well today will be a Buy day for you and as you say a decline would in be in order prior to buying.

The market sold off after it hit a high of around 888 , however there was also a high made prior to that at 884 in the first hour of trading, the prices could have dropped from there and in hindsight that would have been the pivot high. But there was a retracement to 881 before prices rose again and hit 888 which then became a pivot high. again this is in hindsight. at 884 in the first hour a short would be valid as there is no way of knowing if the market is going to make another high.

YES I think I read in one of the Market Wizard books. comments of a top trader that it was not his doing but waiting that made him money. Guess that boils down to PATIENCE a virtue which indeed has to be developed and nurtured. Sometimes these Sell days or middle day as you call them are difficult to trade and can get frustrating, best to walk away and then wait for the ideal plays.

elovemer, Say the market opens low, you go long , then you short later, but the price action does not favour your short, do you then get out or wait to be stopped out. Prices can well keep going south or after a shallow retracement go higher and end up making a high. Ofcourse this can only be determined in hindsight.

Yes both the days 17th and 22nd were Sell days for PowerBuy Play, Powersell setups would be on Buy Days Today is a Buy Violation Long play as market opened below Friday Buy Day Low of 842

Great post Frank, It was also an INSIDE DAY. With a weak close envisage a weak market at least in the Globex session to start with.

Could not find your condensed version, perhaps you could point it out or paste it again, would be of interest as I have plodded through Taylor over 20 times and more now. Frank's take on the subject is always of interest, so was his initial detailed version on Taylor with PowerBuy and PowerSell concepts.

Thanks WHY? o.k , the above scenario is buying after BV on a sell day.- only longs allowed on a Sell Day as you have explained before. 1. Lets say today 2/17 is a BUY day. That makes 2/16 a SS day which closed on the Low. All of the premarket action today 2/17 was under 2/16 low (attached 5min and 15min both for Buy Day scenario), would it be o.k to go short on the open as shown, as it would be a HIGH made FIRST on a BUY day which can be shorted Then to cover and go long as both short and long are allowed on a BUY day. 2. OTOH if it was SS day, after a weak close on 2/16 (sell day), would it then be o.k to short the HIGH made FIRST on a SS day, the only trade for the day as only shorts are taken on a SS day.

WHY?/Richbois On a BUY day, a short can be taken on HIGH made FIRST. and unlike a sale day, we do not have to wait for a sell objective. This is especially pertinent if a HIGH was made LAST on SS day, however what if a LOW was made LAST on SS day.?

WHY? yes your posts are coming in as duplicates, perhaps you can PM Soultrader (James) , he should be able to tell you how to delete them. BTW did you get a chance to look at p.72 of Taylors book regarding my query "On page 72 in the "Pertinent Points" Chapter the following is stated: "There seems to be about two swings a week, one Upward and one Downward. In the Bull movement, the one downward will be longer and is the swing that causes the failures to penetrate the Selling Objectives and the cause of Buying Day Low Violations." Should'nt it be Bear movement instead of Bull movement?

WHY? have a couple of questions: 1. firstly, On page 72 in the "Pertinent Points" Chapter the following is stated: "There seems to be about two swings a week, one Upward and one Downward. In the Bull movement, the one downward will be longer and is the swing that causes the failures to penetrate the Selling Objectives and the cause of Buying Day Low Violations." Should'nt it be Bear movement instead of Bull movement? 2. secondly, yesterday we had the classic BV and on a sell day a long can be initiated as you explained in previous posts, keeping the low of previous day as the target. yesterday however, we also had another low late in the day, would a long trade at this time be in keeping with taylor? and in the light of this late price action, how would you see it unfolding today which would be a SHORT SALE DAY? for as per Taylor's rules we should be primarily looking to sell on early opening rallies after a higher bottom taking it past the Buy Day highs, ofcourse depending on what tape is showing at the time

WHY? On page 72 in the "Pertinent Points" Chapter the following is stated: "There seems to be about two swings a week, one Upward and one Downward. In the Bull movement, the one downward will be longer and is the swing that causes the failures to penetrate the Selling Objectives and the cause of Buying Day Low Violations." Should'nt it be Bear movement instead of Bull movement?

Bruno, On VSA Eiger and others are merely trying to get across the main concepts and principles via static charts, realtime is always going to be tough even if you look at any other method ie. candlesticks, woodie cci, taylor, wyckoff, rsi divergence, elliot, gann etc. attached is a similar analysis via wyckoff as taught at http://www.ltg-trading.com, you can clearly see that this is the only way to illustrate the principles , what is pointed out is what to look for, they don't tell you enter here, exit there etc. it is upto us to learn how to read price/vol in realtime and exploit the moves. If you have concluded that there is no value at all in VSA, best to leave it, why read about it when you could be making progress learning some other way of trading. It will only lead to unnecessary arguments. However if there is anything specific that you do not understand on VSA, put up the question and then if somebody is awkward you have a valid reason to contend. Have gone through that experience myself recently;)

Today was a SS day as per Richbois Book, and it played out to perfection. However if you had considered as a Buy Day, then equally Taylor's rules would have worked as explained in posts by WHY?

Thanks Eiger, Yes I have heard Tom mention the War analogy in respect of trading off 1min charts. Personally don't have problems with stops etc. It is just that there is so much stuff on trading of tick charts or 5sec or 10sec charts which apparently will show up the exact turn and thus afford a close stop (low risk), so easy for anybody new to this business to get enticed to, however it is clear that one is prepared to accept higher level of risk but at least have the confidence via the analysis you just outlined, then it is worth pursuing this route.

From your posts(btw which explain VSA in a very clear way), would I be right in saying that the VSA signals are more relevant if read on larger timeframes, so for strictly intraday trading, reading from 15min charts after having gauged the trend, s/r levels etc from 60min would suffice. Then for entry one can look at 5min or 3min. This is I presume what you do in your trading. If so really speaking messing around with tick or 1min chart is not strictly required,ie. to pinpoint the exact turn affording a very close stop loss, ofcourse depending on how much risk a trader is willing to take. as on 3min or 5min the bars would be that much wider in range and hence stop losses further away from entry.

If you are referring to price/vol (not to DOM or time/sales), you bet Taylor had a solid grasp. Lots of threads are devoted to reading this against support/resistance etc which is fine, however in realtime it does pose problems ie. which is the genuine s/r, which one is going to hold, is price forming its own intraday s/r etc but with Taylor's method at least you are armed with some sort of plan, various scenarios which are likely to unfold, what to look for, where to look and at what price level etc and then follow the rules to capture a reasonable chunk of the main trend. that's it , no need to sit there and sweat it out whole day. Certainly won't have to engage in esoteric/cosmic discussions on "those who have this belief and those who have that belief or thou shall or thou shall not etc ";)

Think only those days on which markets are open are to be counted IMO

great explanation richbois and WHY? had a similar problem with taylor initially myself as well ,took a while , lots of effort, to get my head around it. Best to start your own book and proceed from there, If somebody is really bent on tweaking or rephasing perhaps it can be done after a few inside bars, the breakout bar may be considered as day 1, violation of high of that day, day 2 and so on. However if the rules for each day are employed suppose it really does not matter as WhY? explained.

yes besides you, richbois certainly has a good handle on Taylor,and would endorse your take on his subscription service. Hasten to add I am not affiliated with his company but having put in the hard work to understand Taylor, realise that richbois knows what he is talking about.