brownsfan019

Forex Price Action Scalping Has anyone read this? Few on ET talking about it and first I've seen it.

Not yet Obsidian, but on the to-do list.

Market Sense and Nonsense: How the Markets Really Work (and How They Don't) New book from Jack Schwager out soon. His books are usually a good read.

Time and sales are now in OEC trader. A long requested feature and I had no idea it was there till I stumbled on it. I wish they would communicate updates better.

Good question and only time will tell IMO. So far everything ok, but not sure if everything has been transferred yet.

Yeah that outage was not fun at all. That was a bad one for sure. What major probs over the last several months are you referring to? I have not had an issue prior to the outage this week. As a matter of fact on ET we were talking about how long it has been since an issue. Guess this was a bad week as Think or Swim / TD Ameritrade was down today. And yes, Schwab now owns Options Xpress which bought OEC.

Lol Tams. You have an actual reason for that? Too funny, some people around this place. Go ahead an EXPLAIN why OEC is not good. I'd love to see you actually explain this w/ facts. Or we can just pretend like I didn't ask this question and you can keep just following me around.

That is a serious, money-making trade JMC. Obviously not going to catch it all, but wow, nice trade. That's part of the risk-reward that your setup seems to provide. You can enter w/ a 10-20 tick stop roughly, and turn that into as much as 200 ticks. Very nice.

There are plenty of futures brokers that's for sure. Make sure you get a demo of any software you are considering. I personally use Open Ecry and we have a little support area right here on TL for them. With OEC you will get free data to just about any market you might want to look at and a free platform, which is very nice IMO. The platform comes with charts and DOM to enter orders. If you need more than the standard OEC charts, you can take that data and plug into other platforms too, so at least save the cost of data. Just make sure you demo a few platforms and whatever you settle on, get to know the order entry methods so there's no questions when real $ is on the line.

Step 1: Talk to a qualified attorney to plan for your demise -- including your trading/investment accounts. Step 2: Follow their advice. Seriously, this is something that you need to pay for top quality advice for - not an internet forum. This is one advantage of day-trading, by 4:15pm EST, my positions are closed. As long as I don't kick the bucket in the middle of a trade, my trading accounts should be sitting in cash and if I do, that's what stops are for. As for the investment accounts, they are considering investments so by the time my accounts are passed on, no big deal.

That is crazy MMS. Should be interesting to see if it sticks and is true. If it's true, some well-known names being accused in that. As a side note, Cleveland finally getting a casino so I may be playing poker more than ever before!

My view is -- very nice trade entry and stop. And stop does not move. I've never found trailing a stop to be a good idea, but that doesn't mean it can't work. I know moving the stop 'feels good' but that feeling usually cost me money so I just stopped doing it. Nice charts though, feel free to post those in this thread! Can't tell what market, timeframe or anything on your chart.

When trading off 5 minute or longer charts, it can get a bit tedious especially if you are staring at one market. A good suggestion was to set an alert on your platform and then either do something else or watch multiple markets. If you watch 4+ markets that are not correlated, then that boring 5 minute chart can get more active. Actual examples would really help as I don't quite get where your stop is initially and then where it goes to. For me, if I enter on a hammer, the stop is tick(s) below the low of the hammer. And that's where it stays. I agree - tick charts or volume based charts will provide more setups for sure. I had mentioned to JMC previously that I put his design on a 800 tick ES chart and did not look bad at all. I admit, I have not been tracking it daily so please make sure you do before jumping in. So the options to get more action during the day could be: 1) Watch more than 1 market 2) Watch 1-2 markets but use 'faster' chart settings - 1 minute, tick or volume charts. You could also use a combo of these as well. Say you really like the CL or ES moves, or for margin purposes you want to focus on 1 market, you could have a 1 minute chart up, a tick chart and/or a volume chart of that market. 15 minute charts would be difficult to 'trade' from IMO. If you get 1-2 setups in a day, I would call that a victory. You are getting 4 bars per HOUR. If the 1 minute is too fast, try the 5 minute out as Josh suggested. That could be a happy medium to speed the charts up a bit and also find good risk-reward setups. If you focus only on risk-reward, the 1 minute will be hard to beat. Look at some of JMC's screenshots - he's risking maybe 20 ticks on the CL and seeing moves of 50 ticks+ on his trades. Risk $200 to make $500 or more is not bad at all IMO.

Maybe I'll ask MMS to change my name. LOL Not sure why OEC seems to good to be true. They are good at what they do and you don't have to take anyone's word for it - - demo it for yourself! Demo is free for 2 weeks I think and I'm sure you can ask for an extension if needed. Get the demo and look for yourself. Don't trust anyone on this forum till your own eyes see it. Here's what I know - if OEC had problems, this forum and ET would light up with complaints. Anytime there's an issue, both forums (esp ET) light up with complaints. There hasn't been any issues for quite awhile. If there were, I have plenty of vultures on this forum just waiting to pounce on OEC and me. You'll note that those vultures have not been around for a long time. For some reason they disappear when things are running smoothly. They are only there to jump all over OEC and me when there's an issue, but never to be heard from when everything is running perfectly. OEC is not TT or CQG or T4 for that matter. The only way you can see if OEC can work for you is to demo it. And even if their platform is not capable of what you need, you can still take that free data and plug into MultiCharts and other platforms! I was paying $500/mo for T4 before moving to OEC and have not looked back. You can see on this forum that was years ago, so that has to say something. If OEC was crap, I would have left a long time ago and just went back to T4. As for best service, I guess it depends what IB you use. I go direct to OEC and never have any problems, but at this point I really don't need much direct customer service. IN THE END demo it for yourself and see what you think. You can use the entire suite from OEC - platform, data and DOM - or you can take that data (save the expense of buying data) and plug into another platform and just use their DOM.

Nice charts JMC. One thing I've noticed when you post charts is that the morning appears to provide some very nice, risk/reward setups. And that does not surprise me seeing that the morning usually provides some great moves.