brownsfan019

I'm curious to see if you have clearly defined entries and exits Walter, b/c as you just illustrated, the 'real world' is not always as pretty as our visions. Exactly how and where to enter will be a pivotal part of this trading development. How many times have we all been correct in our trade setup, yet get stopped out only to watch it do what we thought it would?

erich - Interesting, I haven't heard of a firm requesting info unless there was a serious red flag. The 2 questions I have are - 1) what is your age and 2) what did you put as your net worth? My guess is that those 2 don't quite add up to them. You have a choice now of admitting you fibbed and see what they do or time to try a new broker. I suggest Open ECry.

Someone else will have to help there, but keep in mind that the majority of traders here trade futures or forex. At least, that's what I've seen. You may need to ask the question at some other forums, esp those built around stocks.

Try this thread - http://www.traderslaboratory.com/forums/f30/historical-intraday-futures-data-2367.html#post18085

I would say that going from a futures contract to an ETF is a big difference, even though the movements may be similar. I don't think it's as easy going from the fast paced world of futures (and the leverage) to an ETF.

Walter, I have to ask - based on your comments here and in the new trend thread, is this the 'one'? The one system you have/plan to trade live? I ask b/c you've obviously contributed some interesting ideas here, but this is the first time that I can sense you mean business on the trend thread. I'd love to hear what's going on behind the scenes for you with this 'epiphany'. It's always enjoyable to see a trader move to the next level and gain that needed confidence. Good trading!

I've used this site before - http://disktrading.is99.com/disktrading/

Dog - good post. I think many daytraders love to make money when the market drops and love to try to call the top. And I think the reason is easy - we all know that usually, a dropping market will make money much quicker than a rising one. So, if you are right on your trade, you can make money rather quickly on a good short. The catch of course being that if you get too short happy, as you've brought up here, it can bite you in the butt. I'm with Tor in terms of simply trying to trade with the bulls or bears each day and not looking for trades on one side. It is my hope that if Open ECry gets connected with TraderDNA, that I can then say with statistical certainty whether I am more of a short or long trader. I would say this though - I think the shorts I take (over time) are more profitable than the long trades. That could be a reason for the short bias for traders as well. But to avoid the long trades would be a recipe for disaster.

And for those w/o this VT platform, is this easily represented in other charting packages?

Walter, What timeframe(s) are you using here and what market(s)? I'm curious if you've applied this setup to stocks, futures, etc. as well? I usually hang back on many of your threads with a watchful eye, but a moving average system intrigues me as I like them!

I didn't even notice that was a 5 SECOND chart. :\

Don - my question for you is can you explain your trade here? I'm still going through walter's thread, but I am assuming you went short there with the MA's pointing up.

No prob! I went ahead and created 2 png's of your zip file so those that are too lazy to unzip it can see your charts! Screenshots from Don4's Zip file for your convenience:

Don, If you turn your screenshots into PNG files, they should not need to be zipped up to save space, FYI. BMP are large files by nature, so that is probably why you had to zip up a single file.

I may just use those ones James!! Thanks for opening those up.

Couldn't have said it better BF.

James, If you can ignore the daily or weekly feel and still daytrade, I say more power to you. I find that if I see a long or just feel bullish looking at the daily or weekly, I have a much harder time taking shorts intra-day.

I'm not sure why, but I get this 'forex bug' if you will and occasionally want to look at some charts. I'm not looking to open an account or anything right now, but does anyone have any recommended charting platforms for fx? Real-time is not necessary right now, so I'm open to suggestions. Thanks guys.

Interesting thread here Walter! I watched the video and the definition of the trend is clear. I assume the next steps are to define when/how/where to enter and when/how/where to exit? How has this looked in real-time for you? I haven't done much in forex, but it is of interest to me occasionally.

Dog, In context of an active day-trading setup, I agree 100%. This was part of the discussion I was having with BlowFish in another thread. I agree with you completely b/c you hit the nail on the head - you could get a bearish 'feel' from the daily, pass on all long trades, and depending on how you trade, those could be very profitable trades. Obviously as a swing trader, the daily/weekly, etc. are incredibly important. But as a day trader (one who does not hold positions overnight), I think the daily, weekly, etc. are useless. And the main reason is that throughout the day, there's plenty of opportunities to go short or long and to eliminate those b/c of a bias you have off the daily does not work for me.

It's been a few months since this thread saw some life, but thought I'd give it a friendly bump since we've had a number of new members and discussions going on since then. As I mentioned in another thread today, I've given some serious consideration today to adding the Euro back into my trading mix. In a nutshell, I honed in on the ES for most of this year and while that has worked well, you sometimes revisit your past 'flames' and see how she's doing... The Euro is a very nice futures contract that can add a way to diversify your day-trading dollars. I'm a big believer that if you are going to trade in multiple markets in an active day-trading biz, that finding markets that are not highly correlated is essential. In other words, markets that do not resemble the ES, YM, NQ and/or ER2 if that's what you are currently trading. We mind as well through the Stoxx and Dax in there as well since those charts resemble the ES during US trading times. When this thread was initially brought up and I was in the TL chat room a few days (not sure if that's being used currently or not), the Euro got some interest from the Pivot guys and the Market Profile guys as well. I think that's b/c it has decent volume (see screenshot) and decent moves. One thing that you will see if you watch the EC (also referred to as 6E on some charting platforms) is that it can get into some nice, intraday trends. Depending on how you trade, that can yield some impressive results. For example, today (8/31) I had one trade that dropped and netted out approx 42 points. That's nice. After that, it was some small gains, small wins, but after a +42, it would be hard to have a down day. I also mentioned in another thread to MrPaul that the EC could be a possible substitution for the ER2 traders that are losing trading access with the ER2 move to ICE. @ $12.50/tick, it's actually worth more! An EC/6E daily chart for your viewing pleasure...

The issue at hand for me was to consider INCREASING the time frames in order to trade multiply markets, or focus on 1-2 markets with lower time frames where I can pick off those trades, like you mentioned earlier. And it's hard to say what is best b/c there's so much that goes into that decision. It's easy to sit here now and say, I'll trade off the 15 or 30 min charts and take 1-3 trades per day and have it easy. But the other side of that coin is that creates an INCREDIBLY BORING day. I've mentioned that part of trading before and it's important for me. In the end, it's about making money, no doubt; however, if you can have fun at it as well, why not?! This week was toying with a few different settings and I keep coming back to a 5000 VBC on the ES. With that, I can easily trade it during the day with enough trades to keep my ADD in check. But not so many that I make the broker incredibly rich and my gains get wiped out. In addition to the 5000 VBC on the ES, I have also been looking at adding the Euro and/or Crude Oil into the mix as well. It's really about how much I can manage easily and not miss opportunities simply b/c of the chart setup I have chosen. And if I add in any other market(s), they have to be independent of the US indexes. If I add something else, it must not mimic the ES chart as that's just a waste of space in my opinion. Right now, the Euro looks nice and a good way to diversify my day-trading dollars.

Abe, Good to hear... here's how you 'pay it forward' - when you are on this site or other trading sites and see you a fresh newbie claiming they know all after glancing at some books at Barnes & Noble, your job is to try to help that person, as we have tried to do here.

James, I'll try to dive into these charts over the weekend. I would have last night, but had a poker game to get to. The analysis looks sharp though, good detailed work!

BF - I get what you are saying, it just never has worked for me. I guess I prefer to focus on one timeframe/chart setup vs. looking at a bunch of different ones and end up getting conflicting signals. As for Drummond... no thanks! A trader friend of mine studied it awhile back and not even sure if he still uses it. Seemed like an incredible amount of work for something you may not even use. Again, probably works for some, but I was immediately turned off.