walterw

I want to add here a little word on momentum and how I am actually looking at it.... At this time I had decided to put all my concentration on "flip" trades wich are giving me some nice satisfactions... so in terms of my M counter trades I am taking a little vacation... I like to trade only ONE setup, go to the market with only ONE thing on my mind, so I can keep things as clear as posible and really focus on my ONLY setup... Now Momentum considerations are playing a great roll on "flip" trades... the original idea of flip didnt take that into acct, as things evolved I really found it very beneficial to look only for flips that could have momentum potential... My momentum readings are originally inspired on John Novak Nexgen work thru his "trend bands" that happen to be a very simple keltner exponential channell... When we are inside the channell we are in non-momentum conditions (weaknes, cycle, congestion ) When we get outside the the channell we are in momentum conditions ( strength, trending ) On the graphic below I try to organize the keltner "momentum map" as inside non-momentum and outside centrifugal action momentum conditions... Cant get more simple than that... Now the true potential of this is when you get a momentum build up outside keltner and you hold your trade until you get back inside keltner.... cheers Walter.

direct access ecn... no "deal desk"

I am looking at EFX site and yes, they do have an edge... thanks for the information. cheers Walter.

they look like a VWAP for the day with some kind of atr applied on bands, could that be it ?

Would EFX be similar to hotspotfx ?

Today is may 31 and "flips" today showed a posible momentum alternative... thought its not really the ideal flip... when we have a strong break of our level in consideration, some times the pullback will not come back to test the level making it a "far flip" due to momentum conditions... so to consider taking a "far flip" you need a very strong break where it gets dificult to come all the way back to the level and make a clean tested flip.... I atach two examples today (far flips).... the third one was a regular flip but timing wasnt happy on a zlr type.... thought the second entry made a better job... cheers Walter.

Alex : there is one great edge a good forex trader may have over futures trader... and that is volume.... a good futures trader may trade up to 100 or 200 contracts on ES maybe... on ER up to 30 or 50 contracts... wich on a monthly basis they may work some good thousands of dollars profit... now a good forex trader can grow into millons of dollars if he wishes... the market has a tremendous liquidity and there are no maximums regulations.... so if you get good at futures you can aim thousands, but if you get good at forex you can aim millons... cheers Walter.

Hi mail : you want to check this thread : http://www.traderslaboratory.com/forums/f34/cci-50-momentum-determination-1668.html it has some trend, momentum and timing considerations for a very simple not perfect trend trade.... also "flip" trades go with the trend determined by the keltner midband (bars above or below).... hope helps... cheers Walter.

Ok... can someone make a list of decent "non-bucket shop" forex brokers ? I would like to know then wich are the true serious forex dealers for the retail trader.... thanks Walter.

How about the first one that makes 1 millon (extra) next year, pays a tour to Tokio to fellow premium members... we can stay at Hyatt and get to know Soul`s wonderfull country ¡¡ that would be nice ¡¡¡ I think we can eventually do it... cheers Walter.

Absolutely Don ¡¡ thats why I am only taking into acct the 1rst pivots that are formed on the outerband level, because in order to have a flip we need to break that level and if the level was formed on the outerband then we will have to break somehow the outerbands, wich means a posible momentum scenario... It also makes much more easier the overall analisis aproach.... there is no Mambo triyng to find wich pivot you will select to find flips as it happened on the first flips from this thread.... CCI as you mention is doing a superb job to "organize" timing... I agree that the pullback to the flip S&R level should ideally bring cci to the other side of cero, making timing much easier and reliable... I see Don looking at your chart that you got the entire "momentum flip" concept... nice chart indeed ¡¡ cheers Walter.

yes... they do that... thought that doesnt make them a bad forex dealer.... if you compare to so many dealers that dont take your trade and offer you a second price... oanda never does that... any way I think every one knows what work best for him... I still would recomend it for forex scalping, their spread its very competitive and my previous experience was nice and smooth with them.... cheers Walter

Oanda gives a maximum of 50:1 leverage, I think thats a serious leverage, they have a 1.2 pips spread (real) on eur/usd pair , and there are no IB brokers for them... at news euro/usd spreas can open up to 10 pips... during max 1 minute... think thats the only complaint I would have.... They are quite big forex dealer and it is a member of the National Futures Association (NFA ID #0325821). I believe Notouch, to keep this forum serious and profesiional should you inform yourself before making such non-fundamented statments... OR if you have material to backup your information, please post it.... cheers Walter.

Wave : you want to check oanda.com they have a spread/execution policy that its worth looking... I actually dont trade forex, but have acct with them and so far I believe they got one of the best spreads... no second pricing... etc... also no minimums and flexicontracts... hope helps cheers Walter.

another "flip" on this evening.... cant believe I am trading at this time of the day... cheers Walter.

Hi Brown , I see how clearly you manage your exits with WRB`s, my question and intrigue is what entry criteria do you have to Open a position... would like to learn if its not compromising (no obligation to share)... cheers Walter.

Today may 30 was an interesting day on "flip".... and some new nuances are coming in wich I think are worth consideration... As always the first pivot that forms the flip its in the outerband level (for potencial momentum moves).... On the first chart there was a little mini flip... I dont trade does.. prefer to see cci on 0 for a zlr type timing or better below 0 for 0 line cross timing... On the second flip timing from -100 would had been very nice... thought its agresive but has better RRR.... Now, a word about runner clossing... I came to the conclusion that the best runner exit is with the +-50 levels confirmed cross ... cross down -50 for closing longs, cross up +50 for closing shorts... On the second chart today again taking the trade from -100 would make it more agressive but with better RRR and notice the runner , it worked for 240 dollars per contract... I must confess I got out on the previous 0 line cross with 100 dollars less... but a good observation of this type of situation helps to curb the analisis toward the +-50 lines for next time... cheers Walter.

Today at the very beggining of the day I observed (did not trade) this nice clean coil break... What called my attention was that it started forming after only 10 minutes of session, and had 12 minutes long with an almost perfect morfology... wich for that time of the day we could consider it "long coil"... The confirmed break of the white keltner would have made a very nice entry... and for exits should be considered a re-entry to the keltner... cheers Walter.

Yes Wave I did have one similar coded by myself some years ago, basicly you are plotting the level of the most significant pivot... by the swing criteria, something similar was done by Wayne Harris from kwikpop.... and then extended into channels... At this point I like to identify pivots manually in relationship to the keltner outerbands.... because I am combining flip with a momentum aproach based on keltner.... I will like to see some of your charts using this indicator for flips... cheers Walter.

I perfectly understand what you mean notouch.... overall trend context... could you share some charts (maybe on a diferent thread, this is doc`s thread) of your long term trend determination bias... it would be nice to learn that... cheers Walter.

And late on the session another decent "flip" cheers Walter.

Nice nice doc.... Having a plan absolutely... should we add that the plan has to be simple ? because having a so complex plan its similar to the mambo of not having one... cheers Walter.

So notouch you are a "permabul" on this moment ?

Hi Doc, and welcome ¡¡¡ hope you enjoy your time here at TL.... I think that what the doc says about thinking its sinonimous to "fantastic predictions"... obviously we have to think before we trade, BUT.... with true technical FACTS and not our predictions without any clear technical clue... would that be it doc ? cheers Walter...

"Dont ask the market what he can`t give you, and be prepared to take what he is willing to share with you" (Mr. Toledo Buenos Aires, Argentina ) one of my great mentors... in spanish : "No le pidas al mercado lo que no te puede dar, y estate preparado para tomar lo que el esta dispuesto para darte"