walterw

Tomorrow I will be doing some flips and abc`s on ym... so I wanted to share some setups we had today and how this would be followed tomorrow.. I will be using a 22 t chart with the classic keltners and cci, will look like this : probably a video will be the best way to explain a little how this works... continue on next post... cheers Walter.

Thanks Richard ¡¡ wonderfull language ¡¡ cheers Walter.

Ronin do you follow NQ leading moves ? that osc +45 wich one is ? thanks Walter.

first glimpse is left brained... second thought see it the other way, now she is cute.. turned on the chimp... cheers Walter.

2008 will be it, for now I will take some rest... happy holidays ¡¡ cheers Walter.

Happy Holidays for all my fellow traders, and my best wishes for 2008 as a great trading year ¡¡ The best wishes from the chimp.... cheers Walter.

old system works

For your consolation Joshua I am 35 tick up today jejeje.... cheers Walter.

Hi, I am not being able to enter chat room.. get an error here. cheers Walter. sql error

in YM at least, 22t its much smaller than 1 min... you will see what happens inside a 1 min bar, so very dificult to replace that Cattus, again you can trade from a 1 min chart but will be a diferent thing... cheers Walter.

Metatrader works on 1 min minimum, so for this scalping method on futures will not work, doesnt mean you cant trade it from a 1 min chart, but it will be diferent... check this page, has a classic vma indi and template for metatrader http://www.traderslaboratory.com/forums/24/walter-s-forex-trend-trades-2364-28.html actually I exit +4 or +5 ticks fixed on ym, that certainly changes as market conditions suggests, for example yesterday I had to reduce to +2 +3 and some other times I may take a +8... technical exits, cci cross back 0, a nice one, please check the flip thread http://www.traderslaboratory.com/forums/f34/the-flip-trade-support-and-resistance-1714.html has a lot on exits as well... hope helps, cheers Walter.

I use tick charts for scalping, its like tape reading on a chart, you get to see whats happening... minute charts are more for longer trades, they give a very nice longer view of whats going on, so having both its very recomendable as they have difernt functions... cheers Walter.

Mr. pgd... if you go thru the videos you will notice very clear guidelines for exits, basicly using cci and fixed exits as well, for stops its also quoted the chimps universal stop system... the metatrader indis are on the vma open research thread, there are various versions, you may want to check... cheers Walter.

This is what I mean :

I wasnt following anymore today the market when this gorgeous doji did his job... today was very nice the amount of good setups we had like this... funny, if you taked the es signals into ym at the same time, ym was VERY profitable today.... nice work here Brown ¡¡ cheers Walter.

Higher high and lower lows only happen in trending momentum conditions, on cycle conditions aplying that concept a profitable cycle trade/scalp will eventually become a stop... that so far my experience... cheers Walter.

I personaly, (and this may be related to my character) prefer to trade the cycle trades for a fixed exit...its probably the best environment to make profits, and it happens permanently compared to momentum... when the momentum appears its more of an alert state into not aplying cycle scalps and get shaved on a brutal move against me... but basicly all my scalping happens on the cycle condition... ironically the state of the market where most people complaint about and get so confused... About the psicology of taking profits and not hoping for super moves, I believe its a way of being much more realistic and cash $$$ every other day... cant beat that sensation, it feedsback confidence to keep trading ¡¡ cheers Walter.

Ok... so my first question : is the bacbone of your aproach the candles patterns ? or is it the relationship of price and S&R levels or other ? What starts your setup argument ? cheers Walter.

yes some examples... actaually on tick charts at smaller timeframes this readings get more amplified... just a very simplified concept... if price action is contained by keltners, we are in cycle... cheers Walter.

In that case momentum discernment may come handy to switch exit methodolgies... one simple method I use to discern mometum and change this "sensitivnes" on the exit management is to see how prices drive far from the keltners... on that case I asume momentum is showing its paws, when market strugles to go far outside from keltners we can asume a cycle condition (wich actually is the norm in the market) and scalping fixed exit strategies may give better results in this case... key for that kind of exits is to ensure a good minimal RRR of 1:1.5 at least... cheers Walter.

Absolutely ¡¡ exits will empower the entire aproach... not easy as it is a very hard topic... I must confess I am a scalper because I found on scalping a way to exit trades in a very simplified manner... Any way, candles are a very simplified and organized way of seeing price action... cheers Walter.

jejeje "hammer hunting"... you do that copyright right away Brown ¡¡ good phrase... yes, the context I show there may be a little cloghted eventually, the nice thing is how this patterns work so well responding to this context analisis... now so far I am looking a lot of charts here and the "flip" or S&R changing roles wich is also teached by Nison probably is a much more easier and robust context... only there is not so much amount of setups on a trading day... the groups of spining tops failing really is a very robust one as well... its that pause preparing to continue... Brown since this studies on ES I am also looking at ES with more interest, more cars, very nice performance... I will post some scalping waco things I see as well but on my chimp thing thread... let the interaction continue... One question : had you seen some way to relate 15 min context into the 5 min setups ? thanks Walter.

And for last this failed group of spining tops that did not had a follow thru, when we brake their lows pum, down we go... in a nice bearish trend context from higher timeframes dictated by the macd... it also was a midband reject for continuation well like you say Brown... some food for thought... so far on this ideas I find more confidence in taking the swings h/l for timing, as it may become noisy this formations... Hope I dont bore anyone here... cheers Walter.

Now a pattern I observed today... actually I dont know if it could be considered a valid candle pattern, but the pattern actually is there... It is a group of spining tops that happen at the midband area creating a congestion action wich happens to be normal to see congestions on the midband areas... swing of the extreme of this group tells us the congestion is over and the mid band rejection is in course... this is an interesting pattern as well... cheers Walter.

I enjoyed today following this 5 min candles on the ES.... Now I thought that adding a little bit of context would actually make the trades a little more confident... this are "ideas" I want to share here... For example adding some ketners 9/1 atr simple and a macd 12/26 could give some interesting context of trend and exhaustions as well... Basicly this is the way Keltners can be used : here is some examples of how this very nice candle patterns happen on some very intersting keltners contexts : The macd could give some trend bias actually corresponding to higher time frames as it has a quite high input... those are some ideas... please tell me what you think... cheers Walter.