walterw

I am paying attention to this almost 1 hour coil... will it be a super coil break ? we will see.... cheers Walter.

Like any aproach, if you like it, you feel confortable with it and gives you positive results, go ahead and use it... if not, dont...

Tape reading is not easy, vsa isnt as well... and the "feeling" of tape is not subjective I think... you feel how the tape goes wild with super amount of buy/sell contracts, or you feel how the tape is stuck... there are clear empiric and objective events on tape... I think any aproach has to be dwelt as dificult or easy you want to make it... If you WANT to learn it you will.... be newby or not... cheers Walter.

Hi Vale, what you attached its called DOM (depth of market),wich comes on trading platforms softwares, what you are looking for is Time and Sales... TS is the one you see on Souls videos, you can also have that on regular data service softwares like esignal, qcharts, realtick etc... normally dom softwares unfortunately do not include time and sales... hope helps Walter.

Hi Amory, I am not that familiar with MS... I know they have some limitations in terms of language compared to TS... I recall using a very old version 10 years ago and they could do a salad of indicators from indicators that would only be on the program but not be able to create functions from scratch... from there on I turned to TS where flexibility was tremendous.... actually I am on a forced diet, anti TS adiction and using very simple charts from my DOM... hope you can get that TMF working, its a great indicator in terms of volume and I enjoyed to see divergences on keltner extremes make great setups... should I suggest using this indicator for setup purposes only and combining CCI for specific timing purposes... cheers Walter.

Very interesting quote about Royal Scottish Bank (thats new to me), my question Pyenner is how can I follow them ? how can I know what are they doing (buying/selling).... would apreciatte that information.... cheers Walter.

I dont want to intrude on this thread, thought the idea is to hear docs opinion... but reading your issue on exits Brown it really reminds me of a great crisis I went thru on my trading career some years ago... I know each individual has their own method of thinking and what can be helpfull fore some may not be for others... any way hearing all the bells sometimes can bring some light at the end of the tunnel... My experience with exits is similar to what Tin just mentioned, you can get frustrated for geting out early or frustrated for waiting and loosing what at some point was profit... I came to the conclusion that there is an "average" exit method that will work from 0 to 100 % expectations... so triyng to find an exit method that will always give me a let say 90% of my expectations its totally imposible, because the market is so unpredictible on its output that exits come on the same cathegory of unprediction... So to calm the traders mind and take out the burden and stress of triyng to exit the best posible, I came to the conclusion that a trader must KNOW his average exit... (technically speaking ) and simply trade it... If the outcome could had been better than average, dont feel bad... you had the discipline to stay tunned with your average exit and you are in peace with yourself... Now that sometimes demands a truce with yourself in terms of what are your monetary expectations on an X universe time period, say day, week, 15 days or month... If you program your self to make (lets say) 1000 dollars per month contract... in 30 contracts thats 30 k month... nice mmm ok... so be in peace with that target maaaaybe the market wanted to give you 50 k that month.... but you know, that maybe creates a great anxiety, you are depending emotionally on the market performance and frustration will be in there... on the other side you made 30 k ¡¡¡ whats the deal on been frustrated...?? I would like to conduce a poll here on TL and see how many traders are making 30 k on a monthly steady basis... You see, having certain monetary objectives and asigning to them the 100% of success detaches you of reading the market to rate your success... wich is an evil machine that will turn you nuts... You made your month target.... you had 100% success.... be Happy and enjoy life... Now my other key.... Keep your $ targets LOW... if the target is low, the more great chances you have of making it real... if its to high chances are lower so there is a psicologicall pressure there that tells you I am triyng to do something not realistic... When you combine all this with your trading, taking average exits... it may work like a charm... Takes self programing, takes time, takes will.... it is posible, it makes you free... If the market outperforms your targets, let him outperform, you made your monthly target, feel good with that, enjoy life.... Hope helps.... cheers Walter.

Yes Jerry, I encourage you to start a thread on your techniques ¡¡ it will be very usefull for you and for us... cheers Walter. and remind you to use lots of graphic visual aid...

Correct Blow, thats why you need to learn how your mind process work and try to idntify what you are doing... so you can understand and normalize your mechanism... from my stand point of view it is a great procedure to success...

Yes Fish, I did study the complete system, it is a very instructive material for the new trader and gives you an excellent base to build your own... His multiple time frame aproach helped me to open my mind in terms of "aerial views" of the trend... also from there on I started to play a lot with smaller time frames charts using indicators from larger time frames... for example on "flip" I am using a 55T chart with indicators from 110 T and I also use a 11 T (never posted) for some specific timing purposes... all concepts from Drummond multitimeframe analisis... cheers Walter. Pd : also push and refresh concepts...

yes sir ¡¡ cfrn, your back ¡¡?? didnt hear any more of you... we have new nice material arround here... welcome back. cheers Walter

I do not share that opinion... scalpers have the habilty to adapt to diferent seasons of the market... if they dont have that skill, they can not bear the name scalper.... Scalping is a profession inside the market, thanks to them (us) markets have liquidity, many scalpers make very small profits on a daily basis that result in steady monthly incomes... There is no less technical demand to be a scalper, normally scalpers are more technically oriented than other aproaches... they depend almost 100% on technicals... It takes cold blood an a lot of autorestrictions.... You can scalp on volatility, and you can scalp on slow markets... Something else : scalping is not for everybody, its almost a life style... you have a diet, apropiate sleep, mind control, focus, autoestime... etc etc... GOOD Scalpers will always make money... cheers Walter.

Ok I see... well I asked you because I followed lots of Novak work and actually he used a very similar abc count wich works very nice like the one you showed... thanks for video, keep posting.... cheers Walter.

uuups, you mean good scalpers dont make money.. ? mmmm

nice... are the abc`s inspired on John Novaks work ?

On my siesta, the market was also sleepy... so for this very unresponsive flips would be recomendable to exit entire position on scalper exit.... thats why I like to trade on the morning and hasta la vista ¡¡ ... any way this flips made some nice ticks... cheers Walter.

yes, its amazing sometimes I feel like a little child that still is learning to sum... there are things that take a life time to really grasp what is behind it... and even simple things... nice comentary Irushing. Rob : yes, one setup, get good at it and make your good bucks... cheers Walter.

Dr Janice : it is very encouraging to hear that... I am some times questioning myself why I dont take more profits... but on the other hand I feel good with what I am making, and it is a lot in comparison to any regular income... thanks for your response, cheers Walter.

Hi Dogpile, can you post some charts of what you are explaining ? will be much easier to understand and will have a superior educational value... thanks Walter.

Hi Mail, that is a 55 Tick chart of Russell with a 100 keltner exponential 2.5 atr (white) 5 atr (black)... yes, I look to go long on the upper outerbands flips and short on the lower outerbands flips.... cheers Walter.

June 1st... and today I had two flips so far, one worked like a charm the second one gave me a neutral output... The first one shows how you can take the most of a momentum situation... cheers Walter.

Jakew : nobody can tell whats gona happen, you only have areas with the most odds on your favor, then you have to manage small stops vs large trails... thats what this bussiness is all about... otherwise there is no way to place a trade because the market is completely relative on its output BUT it has clear areas where he normaly shows his cards... cheers Walter.

yes, that is called "refresh action" by Drummond theory and it is the normal pullbacks you can expect on the zig zag motion of market... thats where "flip" trys to make a competitive timing.... now, while you are still outside keltners we can consider it momentum, thought momentum will eventually dry and refreshing will happen all the way back to the mid band on a first instance, crossing the mid bands could suggest the starting of a reversal... or the stall of any trend on a coil... This areas give you a map where you can expect certain outcomes... cheers Walter.

Doc : I have a question here... On my experience so far, having time objectives has helped me a lot, now something that maybe from a RRR or money management point of view may be questioned, for leaving sometimes money on the table, but MY mind gets relaxed when I go for a very small daily or weekly target.... reeeeaaaally easy to get there... I live happy without pressure from myself and the nice thing I get there ¡¡¡ what would be your professional perspective on this issue...? When I had very high goals in terms of weekly yields, I was intimidated by the pressure... now on low expectatives I am been constant on my performance.... expect your feedback.... thanks Walter.

shure Dupaski ¡¡ the previous chart is a russell mini 55 tick chart with a 100 keltner exponential 2.5 atr (white ) and 5 atr (black)... I actually use this chart for my "flip" aproach.... also long coils between the white keltners can get sweet breaks... glad to help, cheers Walter.