walterw

Brown : I have 11 years of my own experience to say that... lol

I understand Soul that you would at least expect to see a closing gap...

Now on very diferent climate, we had a coil break type flip outside the coil, the first one was a stop and the second one worked nice...

Brown : you must take into acct that the first hour of trading is diferent to the rest of the session... if you are scalper your first hour its like a session itself... IF IF the market shows a momentum day in front ( very unusual ) then you may consider leaving some runners.... but for the seasoned scalper, his session is normally the first hour and goodby, lets play golf, take a dip on the pool, make love... if he keeps trading ( happens to me ) normally as he is on a diferent allien context he will give back his first hour gains... there is no point in staying on such diferent market context if you made good money on your normal habitat.... cheers Walter.

Here we have todays first 50 minutes Flips... in timing cci 0 line cross has performed the best... As you can notice I am posting the entries, in terms of exit I will soon share some ideas... cheers Walter. PD :both charts are 55Tick

I think she is cute... jejeje

good point Italian ¡¡¡ asuming your responsabilty its a great step too success¡¡ and promotes objective thinking in terms of real world trading... when you start justificating you automatically become subjective... and being subjective in this bussiness its letal... nice thread here.... cheers Walter.

Yes Mr. Marcus, here at TL we admire succesfull people... obviously success is not related with the amount of monitors... feel free to share your technical insights, you dont need to show it all... would love to see the same picture of your station with monitors on, so to have an idea of what you look at... as to my experience one monitor was enough to be succesfull on trading, my second machine is just for gral web browsing... but obviously it calls atention such a nice voluptuos station, though its some traders dream... mine its to lower it to a notebook (maybe a vaio)... and travel on Tablet Hotels: Unique Hotels for Global Nomads chain arround the world trading from a nice king suite the first hour of session and then enjoy the place... cheers Walter.

Blu ray : I am forcing myself not to have contact with easylanguage, I came to the conclusion that I was adicted to it... now I am trying to proove myself that its not the software and the sofisticated algorithms that can give you an edge, but a good simple trading idea... and consistency in it... Glad to hear you are enjoying the flip... cheers Walter.

Ok as we wait today for the feds number we have more flips on the move... The first chart is the 55 Tick chart where we monitor for flip formations... you will notice how clearly we broke resistance to then become support , giving us some flip trades... I am experimenting some other timing alternatives to make timing easier.... 1rst experiment : instead of waiting 0 line cross, we can take +-100 recross for timing... for this we can also see with more detail the exact same information on a 22T chart... (can help more precise timing ) its the same cci from 55T... 2nd experiment : we had a zlr type timing for the last flip, so we can take the zlr at the 22T crossing the +50 line making more easy the entry... I am using cci 14 from 55T chart, the exact same cci will be a cci 35 on a 22T chart... this breakdown is to help more precise indicator reading... dont forget I am a left brained guy.... cheers Walter.

thank you for your kind words Thierry and welcome aboard... should I remind you this method its still on beta, It looks like it has some future... The overall flip argument its crystal clear... but there are some topics like timing, stops and exits still to be clarified... we keep working on it and feel free to interact ¡¡¡ cheers Walter.

Good topic Nick... my experience on Russell has been based on 110 Tick as I was for many years a John Novak follower... Fibonacci Day trading software - NEXGEN Software Systems (all his free stuff obviously)... so my central timeframe is 110 Tick... from there on I like to breakdown information as I am more of a scalper... to 1/2 55 Tick 1/5 22 Tick... but always mantain the 110 T spirit, obviously tick charts have the advantage of taking into acct price action, time based are nice for big volume picture on 5 min but for timing reasons I would always recomend tick charts... cheers Walter.

Hello ¡ Todays first 45 min of session delivered this nice cool flip... kind of coil break type... with pullback outside coil... but it did flip ¡¡ cheers Walter.

Hi Marcus, very nice station, I am curious why do you need to monitor 572 charts ? whats the aproach... do you trade stocks ? would like to hear about your aproach... cheers Walter.

Today I decided to take some cofee and follow the session to its end and see if more flips will come in.... well a very nice came in, made me stop first but on the second atempt worked out perfectly well...

So as the lunch Coil breaks (very common pattern ) we have a nice flip giving a very good competitive entry before the rally... in this case the flip is inside the coil, in some other ocassion the flip happens outside the coil... we must understand that there are two types of coil breaks pullbacks, inside and outside the coil (see example).... cheers Walter.

I have a nuance to add here : when a level was previously tested twice or more, we can have a more solid flip in front.... cheers Walter.

Ok, here we have todays first hour flips... cheers Walter. pd: I took of cci 6 ( more clean chart) and added +-50 lines to cci for posible timing usage...

Bright Bright Minds ¡¡¡ thanks for the explanations, they all make sense.. cheers Walter.

Hello dear fellow traders, I am working on other thread around the "flip" trade, its a neat idea for scalping that I am experimenting and it looks like it has some posible bright future... My question here, and I would love to hear some bright minds here at TL thinking is : Why or wich is the reason (what happens inside the market) to make a previous resistance level now become a support... It happens over and over again, on any time frame, its incredible when you start paying atention to this fenomena, how it works... There has to be a clear reason in terms of market internal behaviour that I would love to hear your interpretations... Take your time, maybe when you take an inmersion bath on your hot tub as Aristotle did you can meditate on this fenomena and we can all say Eureka ¡¡ Expect your disertations, cheers Walter.

Hillarious ¡¡¡

For the greedy lunch traders here we have the lunch coil been broken with a nice flip... the most tested level is the one in this case we take into acct... cheers Walter.

Kevin, here I attach an excel explanation... tell me if you understand it... cheers Walter. The Flip Trade Formation.xls

yes Kevin, 5 ticks could be the average stop on this time frame of 55 Ticks... taking a stop on a swing of the oposite failed pivot... so you would be looking as per your aproach for 15 to 20 ticks... well on russell you need momentum conditions for that kind of movement... if you have momentum, wich I use to read it on a 110 Tick chart with a keltner band 50 exp 3.5 atr, ( see example) being outside the outerbands (momentum conditions ) this 15 to 20 ticks target would perfectly apply.... if dont have this momentum condition (inside keltner), you will sit and wait for a move that is very unprobable.... so here we should have a diferent plan to take just a small scalp return.... we know statistically that the market will not travel 15 to 20 ticks on my favor.... so maybe taking 6 to 8 ticks will be a good exit... wich would represent a 1.5 RRR.... but you have there a nice overall performance of the flip technique.... So exits should be treated diferent depending on momentum conditioins... any way your idea of taking a fixed target from a mathematical RRR point of view is valid, I think the RRR target should be adapted depending on the momentum conditions.... say x1.5 or x3 or x4 etc... I atach 110 Tick climate detector chart... with keltner 50 exp 3.5 atr.... cheers Walter.

Here are todays first 50 minutes of flip trades.... already made $100 for the day... (with this technique yet on virtual money) cheers Walter. PD: I took off the 34 ema, less noise on chart.