walterw

Thanks Tin and Soul for inputs... Tin on your chart, the red line that comes from previos sessions, what would that be ? understanding a little more single prints now I see that red line was a level that contained B as a resistance, would that be the case ? thanks Walter.

Not exactly Notouch... if 100 traders would do what you do still they will not hurt your bussiness (markets are too big)... even most probably they will help you (more liquidity on your side).... Posting is a way of teaching... and when you teach you are the first to learn more, it is a process that helps you put out what you have inside and its dificult for yourself to understand, when you start sharing, it starts to get more clear to you what before was unclear... On the other hand when interaction starts, you see that your followers start to show you things you would never see, and grow thanks to their inputs... Collaboration its a great way to grow... and yes you have to be some how generous... but obviously you will be the most benefited... Some years ago a man/God said : "it is more blessed to give than to receive"... cheers Walter.

Is it possible to ask you a critic of my "flip" trade... I would be delighted to hear your opinion on it... http://www.traderslaboratory.com/forums/f34/flip-trade-support-resistance-changing-roles-1714.html would really apreciate that.... cheers Walter.

for mp experts its ok... for mp curious like me, he is talking in chinese... cheers Walter.

Ok I got it... thanks for that Irushing... by the way do you do scalping or more day trading yourself ?

Hi Irushing ... interesting that last term "FREE" trades... what would that exactly mean ? thanks Walter.

Great doc... great human bean, hope you do ok on personal issues... thanks for great input... cheers Walter.

Ok Brown ¡¡ welcome to the scalpers school ¡¡ thats what scalping its all about... not getting greedy on the exits but making eventualy some more trades... on the same aproach having a decent RRR... Brown, you want to take a look at "flips" exits", you will notice two types of exits being dwelt with... one is the scalper exit, wich would be this 1-2 scenario you present here... and the other is the runner exit that cooter is mentioning if you can scale your position... thus with this runner you can cover better the next potential stops... Obviously if you can get good at reading momentum... you can discretionally close your entire position on the scalper exit when market is slow and you are taking trades that are not pretended to make super moves... Let me tell you Brown... you can perfectly do a daily target there that will make you ... Certainly this aproach its not suited for all traders... but good sincere considerations here... cheers Walter.

Nothing wrong with you cooter, I think bramble crossed the line with the doctor as with James...

I think any poster here deserves respect independently of how you find the content usefull or not... It is evident that for both of you her inputs are irrelevant, well ok, thats fine, for many other people yes it is... I think we are priviledged to have her here, would hate to see her go for people that have such bad manners like bramble... So making comentaries of that nature its totally out of place...

Bramble : very unrespectfull post... showing a great piece of ignorance from your part... We traders DO need data providers, brokers , software, mentors and psicologist... and of course many of our providers not necesary are traders...

do you save your charts as bmp ? if that is the case you can change extension opening on paint and saving as png... this will reduce file size... also for graphic edition snagit does a very nice job... cheers Walter.

I think that Dogpile got the clear idea... now Jake there is something interesting here and we call it "momentum"... when he declares himself at the momentum areas... you want to leave a runner working... this will normally exceed your daily expectations, wich you can use it as a cushion on future stops... now calling a day in this case is a smart thing to do specially when you know that for a scalper the next 2 hours may have such a diferent climate that you have more chances of getting stoped than making any profits... Fixed profits for a trade itself would keep you of taking this momentum situations... maybe you can take a fixed profit for the first 1/3 of position as many do here... the rest if you see momentum should you hold until you get a technical exit signal.... cheers Walter.

Hi Dog, can you add charts on your posts ? will make them much easier to understand and will have more educational value.... thanks Walter.

Excellent job Ztrade ¡¡¡ you see how you got in before the momentum explosion.... certainly good stuff ¡¡ keep posting, it is a good excercise, it willl help you a lot.... thanks for sharing... cheers Walter.

I see you did some smoothing... should you consider having an input apart for the smoothing factor... in order to find divergences you need to program pivot recognition...unfortunately I am not good on that... cheers Walter.

So far today has been a happy flip day... always when we have momentum being built, specially on the first hour... flips get a nice performance... You may notice that entries are at 100 levels, call that agressive, the normal entry would be at 0... cheers Walter.

I hope we dont drive her nuts ¡¡¡ jejejej maybe after the TL experience she goes for therapy ¡¡ jejej... Dr. Janice this forum is unique on its kind... dont panic ¡¡¡ cheers Walter.

Thats great Don ¡¡ I feel very proud to see that... keep that great work ¡¡ cheers Walter.

Hello everyone, want to make a little comment here on some scalping money management that has a great impact on the technical trading as on the traders psichology... First of all let me make clear that this considerations are ONLY for scalpers.. it will clearly not apply for a daytrader by no means... As you all know I am a scalper myself... I love scalping ¡¡¡ I enjoy making little money everyday, its a life style... and when you master a method its so exciting to sit down on your trading room an say, I know what I am technically looking for, I know how much money I want... I have understanding of what this is all about... I trade, get to my target and STOP trading live, from there on I do research... So from this point of view, a scalper MUST have a daily target... so lets say for example this : trading ER a daily target of 60 dollars per contract its a very tangible and worth seeking target... some of you may say its too little, well not necesary... if you trade up to 30 contracts it can give you a steady monthly income of 36k... wich I dont regret.... 60 dollars its equivalent to 6 net ticks after comisions, depending what comissions your broker is charging you, you will need 1 or two ticks more to cover costs... If you look at ER range, 6 ticks is a stupid amount of money to make.... BUT sometimes its not that way... if you got stopped lets say two times on -5 ticks each... now you have to work 160 dollars to your target... So you see, making 60 dollars per day contract some days may be a joke others will make you swet some... I call this easy or hard days... Now, if your method has a good RRR embeded on its apraoch should you do fine... On the other hand, having such low expectations for the day makes you much more selective on your trading... you will only take the best setups that most probably with one or two trades will make your day... As day makes target and other day so does, week makes it month too, trader gets confident on his system and he is not greedy to take more than his daily target... here comes self-restriction not to trade.... In this types of ocations the trader is tempted to make more... going behind that temptation is something that will hurt the most valuable asset he can have : NO GREED... greed destroys... it does in all aspects of life, so in trading... Most downward equities at some point where ok, you got so enthusiastic about that you thought you could trade everything that came in front of you... well no, it wasnt the case... Scalping bussiness is more a conservation than creation of capital bussinness, and selfrestriccion does the job... You want more than 36k month...? no problem, trade more contracts or consider trading ES or forex (hi liquidity)... but keep your daily target very low... As any system , recomendation or experience, some things work for some traders as for others dont... The Scalper Daily Target is a lifestyle.... cheers Walter.

Tin : your delta bars speak for themself.... still using some of 5pillars method ? nice chart there... cheers Walter.

Today its been 1 month since I started this flip thread... I have the sensation that the aproach has become stabilized on what it is and pretended to be... There may be some nuances more or less but basicly the entire idea I believe is there... I would like for the sake of this month aniversary to hear some of your feedbacks... what you think, had you been able to try it on some other instrument and time frame... etc... I would appreciate that... maybe I will post it for some more days... but I am about to move to a derivation of "flip" I have been studyng an still didnt post anything about it, ( I will soon start new thread), so maybe this thread would not be updated so periodically... On todays flip we had a nice example of support becoming resistance... with the timing of cci for entries as for exits... hope it has been a nice journey thru "flip" cheers Walter.

June 4 and today flips where there but with very little momentum as the market was on a complete cycle climate.... first one got me stoped...I did not use runners today... exited all together on scalper exit... cheers Walter.

Well, no big deal today on a 3 hour coil.... it just did not happen... 1rst break was a stop and 2nd one worked for a little move... I think that when break happened we where already too late on the session.... cheers Walter.

Almost 2 hours coil.... mmmm... will this be a super coil break ? maybe yes, maybe not... but the contraction expansion concept could have potential here... cheers Walter.