forrestang

Has anyone here ever found ONE setup that demonstrates a positive expectancy? Something NOT discretionary, with SPECIFIC rules for setup, entry and exit?

I would generally agree with this. Basically while as Head mentioned you can look INSIDE various bars and find the setups on a smaller tf, you can also find the exact same setup on ANY chart as it's all relative. So if one's thing is looking for Quick rejection on heavy vol followed by a low volume test, it exists on EVERY chart.

I think 1minute charts are fine. I actually have a post in here somewhere about using the 1minute instead of the 5 sec. It appears on the 1minute the same as a 5sec.

Do you see the difference between these two scenarios?

I recently purchased a book on Kindle for PC. One of the worst experiences I've had with a book. I hate Kindle and it's format with a passion!!! :crap: My pessimistic closes for 1st Quart: INDU =>11460 SPX => 1230 COMPX = 2600

Sorry for your loss........

Thales, Bad link? ...........................

If this is how you "started" off trading, you are on the right track. I would suggest you keep this at the core of your logic. W/o starting to add to many other things. Just observe what's happening at these levels you see. Many threads here with S/R as the main influence of the thoguht process. I would recommend some of the threads in the Wyckoff forum, or the acclaimed 'Real Time" Thread. ------EDIT---- Also IMO, just focus on your S/R leveels you either pick based on various highs and lows, or various trading ranges you see. Leave the calculated levels like floor pivots etc alone.

Just to get things started, here is the site I mentioned above: Cross International - a Christian relief & development ministry to the poorest of the poor.

Howdy, Something I've always fantasized about doing was being able to give regularly to various charities that do work I agree with or appreciate. Recently, as in a few months ago, I started giving regularly to an organization named "Cross International." They help orphans in various countries, right now they are mainly participating in Mozambique and other places in that region. At least thats what it's been since I've begun donating. I'm sure I help out as much as I can, and I can do more. Also it's not like I have boatloads of cash laying around like I hope one day and I would be able to be more active. So maybe I should look to donate my time if possible as well. I would also like to find more charities that contribute in various ways in the states as well. So I figured anyone else that enjoys helping others when they can have other charities they like to help out? Wether it be ways to be involved locally or abroad, post up if you don't mind talking about it. I'm relatively new at this, so I've always been worried about scammers etc, or charities that may not be providing the help they claim to provide. So any insight on ways to weed out the fraudulent charities as well may be helpful to talk about here. I'd like to keep this post open ended with regards to helping others, so post up any experiences or insights you have.

Thales, Since you brought up a book, what are your thoughts on this book? It is called "Trading From Your Gut," written by Curtis Faith. The basic idea behind the book is the different ways your 'right' brain interprets and makes trading decisions differently than your 'left' brain does. In that the 'left' brain is the more analytic side, needing the exact reasoning and details for doing something. The 'right' is more the intuitive side, that is more adept to making quick decisions based on the wealth of knowledge your brain has collected over time. Most of the book is background, and the logic behind of it. Little of it has to do with actual trading. He does give some exercises how to train your brain to access that stored information we all have to make better trading decisions. Anyways, I thought it was a good read, and something that is easily read in a day. This may be the reason why some people trade or make decisions w/o being able to tell another person exactly why they did certain trades. Even before somewhere in this thread I asked you has this thread made you a better trader, and you mentioned that it has helped you crystallize the things you do by having to try and explain WHY you did certain things. Curtis Faith - Trading from your Gut.pdf

Stalking an EU short at the moment. Given the trend is still UP, if I get a trade I like it will be short term initially. If I don't get it, I will see what develops at the range low. -----UPDATE(1:18)---------------------------------------------------------------------------------------------- The short is blown, it rolled w/out me. And I'd be BE at this point on it anyway. But that 3383 level we spoke of yesterday may come into play at the range lows combined with some other confluences. So we'll continue to watch.

Well. Price did come down to a nice area, and I was stalking the long, but I never got any pa that I wanted to see to get in. So far price has moved up within 4 tics of that range top of 3383 we were watching. It was some nice momentum on that move up... unfortunately I wasn't in it.

------UPDATE(2:28CST)------------------------------------------------------------------------------- I'm out of the trade now. I closed the first 2/3s at the points shown. I"m ok with those exits as I wasn't too far off from top tic of this initial move. That final 1/3 was kinda a sacrifice as I was playing for possible resumption off of support. At this point I expect some move down, but I don't have a solid entry yet. There was a short at the highs, but it was tricky. I may re-enter in a bit, but we'll just have to wait and see. ------UPDATE(2:34CST)------------------------------------------------------------------------------- Stalking a possible long at the moment. Would like to see move towards 3284s maybe to make me feel better about the long. Shorts are a possibility also... but right now the trend is obviously up.

LOL Thales. Here is a trade that will relate to that high you posted on the above charts. Lets see what happens when my long gets up there. Heres a long I just got into literally a few minutes ago, posting as price is currently BELOW my entry. So far pb to prior swing area, may be good support? Looking for the nice move up, but will watch pa, particularly IF it gets up to yesterdays highs and how it acts up there. Will update, just getting it out there. -----UPDATE-------------------------------------------------------------------------------------------------------------------------------------------- Got some decent movement initially. So my stop is BE. As if it comes all the way down to my BE, price pretty much will have traveled this current little range and I dont want to be in. Here is a pic of the current Dline and Slines I'm watching for the initial management. -----UPDATE-------------------------------------------------------------------------------------------------------------------------------------------- Closed 1/3 at that TL break at the highs, the rest resting at BE. I'm anticipating possible ranged trading now, although I am trading to catch the break, so for me it's more about HOW price acts while it is up here. So I am watching PA, why I was aggressive on taking something at the highs, in case we start ranging and that pierce of the highs was just an upthrust to start us ranging. -----UPDATE(1:50CST)----------------------------------------------------------------------------------------------------------------------------------- Just to note, the ultimate goal would be to get up to about 1.3383, but that is a waaaays off. So we'll continue to watch. -----UPDATE(1:52CST)----------------------------------------------------------------------------------------------------------------------------------- Hehe, one other note, I will be closely monitoring that 1.3334 level, as that was a major swing high from a ways back. If we get there that will be about an automatic scale. -----UPDATE(2:07CST)----------------------------------------------------------------------------------------------------------------------------------- Here we go. I closed out another 1/3 on this Dline break I'm showing on my chart. I'm holding the final 1/3 with a stop as shown by the red line. As you can see on the chart on the lower right, I have a range here. And if price breaks this point of the red line, we may explore the other side of the range, and at that point I don't want to be involved in this long anymore.

Thank you sir!! Well, I've more or less managed to re-orient my sleep schedule, so I trade London, mainly look to catch moves from 1-4am CST. Then trade US session, mainly focused on everything prior to lunch. I'm catching sleep when I can anytime in between that pretty much. Whilst trading London, I'm usually chatting with a few buddies, we reference charts from this thread quite often. ---edit---- Oh btw.... yes, of the currencies I watch during London, I really only watch E/U, unless someone sends me a chart of something else.

And I'm out of total position. Closed out that last 1/8 for about 75 pips or so. I had a hard sell stop I forgot about that triggered. Probably not the best exit manner. And I also should have managed that position better, I am horrible at scaling. But we did get a reaction near that point we were watching.

So I'm still in, and i closed 1/2 of the 1/4 position I had on at that resistance area high shown on the charts... and price stalled. I'm holding a small portion with a stop shown on chart.... with anticipation for possible BO. If we breakdown and explore the other side of the range, I'll be out. ------------UPDATE-------------------------------------------------------------------------------------- Just updating as I'm watching here. But I'm showing how pa is developing. I'm using these TLs and OB lines to gauge momentum etc. I don't have much size left in this trade, but this just shows how I'm kinda looking to gauge this pa at these highs right now. I think the point highlighted is a deciding point as to whether we BO higher or fall back in the range. It's highly subjective but I'm showing the projections here.

Posting this here as at the moment I am liking the trade less and less. Close to getting stopped out as well as price appears to want to go the direction opposite I'm looking. This ledge we're creating at the lows has me concerned... initially I was jazzed about the db at support. Not so much anymore. U can see entry and stop. Tgt still pending. ------UPDATE-------------------------------------------------------------------------------------------------------- The trade suprisingly looks better. I'm BE now and was getting worried but we've developed some momentum to the upside. I'm looking to get to the highs or beyond depending on how pa develops. I'm pretty much willing to give my BE stop some room to work for now. -----UPDATE #2--------------------------------------------------------------------------------------------------- At this point we've broken the channel I've cosntructed pretty hard. So momentum is strong... or this could be the exhaustive move up as we've reached the upper edge of my minor range. At this point I've closed 3/4 of my position for about 45 pips. Watching the last 1/4 as pa continues to develop. My hard take profit is up around 3153s at the moment for that last 1/4... so I'll continue to watch and update.

Yeah, I was reading some of my earlier posts on NQ and the analysis of how to trade the ranges the day before.... and it was something a trading savant would have posted.... where that guy is I don't know?

I've been re-reading the thread to for the past few days. Some good things in here for sure. It's a lot to sift through though. U could try to save the thread to your computer. I don't know if you can do it one at a time, but you can do it page by page at least.

Rather unispiring movement in the initial London Session, nothing set up for me, time to take a nap before ES open. We'll see what tomorrow's London brings.

Stalking E/U. We're at possible Support now. So either we spring the bottom of the range and I look to get long, or if we break clear out to the downside, I will look to sell a pb.

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