brownsfan019

Yeah I don't care for many indicators either, I was just clicking around quote.com and saw those. The 200 SMA was from stockcharts site and I was clicking there to provide a link about bearish candles. Kinda all fell together. But there was serious, serious confluence there no matter what a trader may have been looking at. In hindsight, the more the merrier but you can also get bogged down w/ too much stuff on the chart as well.

I think part of it for me at least is knowing that when the market drops, it drops much quicker than it typically rises. When we are in a true down move, that thing can move b/c there are many that simply only go long. Some can ONLY go long (mutual funds). So when those stop levels are hit, there can be a tremendous domino effect. There is a big danger however in getting overly optimistic about taking shorts. Need to take what's in front of you w/ no bias whether that trade is long or short, unless of course your methodology calls for that bias. Usually we see longs grind it out and take time to get to profit areas (unless drive by news), meanwhile a shorting wave can take seconds or minutes depending on the move you are riding.

James - I'll say one thing - if looking at reversals, that's what candlesticks are built for. Could help compliment what you are doing to see what candlestick formation (if any) appears.

FW - welcome to the thread. I like your analysis there and think that some basic candlestick analysis would actually just reinforce the trade you are looking at. While it may not be your prior method, there was a few things working with you from a candlestick perspective. Here's how I see it: In the chart below, we see a bigger view of the YM and some support/resistance areas: Zooming in closer to recent price action and we see a few peculiar things happening here: Throw some Bollinger Bands on it and bam - a picture perfect sell for anyone that follows BB's - went to the SMA, bounced and hit upper BB again: And here we see some indicators I threw on also showing confirmation of the candle pattern as well: And the kiss off the 200 SMA: ====================== The official candlestick sell occurred at the EOD 3 days ago (orange arrow above). That is referred to as a shooting star (or inverted hammer as I like to say b/c it looks like an upside down hammer). Point is that VISUALLY that candle sell says that bulls tried to push it up and were unable to. In this particular example we then see from a technical standpoint: 1) Nice candlestick reversal signal 2) Double top 3) Many, many other 'confluences' of indicators going on here I am a pure technical trader when it comes to day trading and short term positions. This was a beautiful setup that just had so much in it's favor, in particular that 200 SMA which I did not see till just now while I was on the stockcharts.com site. As you can see from the snapshot, you do not get many chances to use the 200 SMA in your trading on a daily basis. So while the candlestick analysis was the main item to look for when considering a trade here, I personally would be looking at a few other items to confirm this trade. In your example, the candlestick sell could have just reinforced what you already were looking at and perhaps may have been able to get you in the trade sooner as well.

I'll mention it in the next write up MrEd. No prob!

If you could explain your fascination with me and OEC, that'd be great. Otherwise, no need to constantly be looking for a reason to get my attention. Now head back to pikerville.

Why would I run OEC purely for a RSS feed? Do you actually think before posting FS? What is your hard on with me and OEC? Let's get this in the clear now b/c I am tired of you showing up in every OEC thread I create (and this one was NOT an OEC thread to begin with) and you bring up OEC. What's your deal? Why are you fascinated with me, my FREE demo accounts and OEC? We get it - you can't qualify for any free demo accounts. Which means, you trade MAYBE a $5k or $10k account and you are overly bitter that OEC does not listen to your requests. You are bitter that guys like me can get things done, can get free demo accounts by sending one little email and get much better commission pricing then you could ever dream of. So, can we leave it at that or do I need to constantly remind you of what a little piker you really are? Seriously, this is getting very, very old. For some reason, you crave my attention and that of OEC.

NEXT ROUND UPDATE (ROUND 115) I am going to just relax a bit next round and help out any guys here that want to learn how to play the game better. So, next round I will create a crew and all from TL are welcome to join. The only stipulation is that you listen to the ideas myself and any of the other experienced players say to do. As of now, it looks like we have SEVEN players from TL that could fill a crew. Just 3 more and we have a full crew of 10! ===================== THIS WOULD BE A GREAT ROUND FOR ANYONE TO JOIN THAT HAS BEEN THINKING ABOUT IT. CLICK HERE TO SIGNUP NOW AND JUST START PLAYING WITH THE SOFTWARE TILL THE NEXT ROUND.

I know that. Thanks. Back to subject on hand - I'm referring to making a separate RSS feed that will run on a separate computer from my trading terminal. As I've mentioned previously, computers are not scarce around here so this might be an option for me.

It can definitely hang, but in my experience, you just have to wait a few seconds for it to catch up.

In this thread, I got to thinking that one could replicate the service being offered by a few of the news services by simply creating a RSS feeder for this purpose. I'll be the first to admit that I really don't pay much attention to news, but a minimal RSS feed could be a nice little thing to have up each day, esp. to catch headlines like the one yesterday afternoon that helped give the market a reason to move. Has anyone created a RSS feeder for this purpose? If so, what websites do you use for this? Even if you haven't done the RSS part, feel free to list any pertinent websites that could be included in someone's RSS feeder.

Question for the tech guys out there - would it be possible to replicate this service (text based portion) by just using a RSS feeder or something along those lines? I don't pay attention to the random news during the day like others, but I've recently thought about creating a RSS feeder and using that for a similar idea like what Tor posted here. My best guess FS is that some traders want/need to see any and all news and this software condenses it all into one piece. I tested this particular one out well over a year ago and the audio part drove me nuts b/c there was dead silence a lot of the time. I guess if you just used it around big news releases and could use it to your advantage, it might work in that situation. But for daily use, all day, I would get bored with it.

If need be, the regulars may want to consider something else - perhaps PalTalk like used in other chats.

I apologize to the OP if my short but succinct previous answer did not provide an adequate reply that he was looking for. Suffice to say this - as a candlestick trader, there were PLENTY of reversal signals staring you in the face (if you know what to look for). So while you are looking for waves and whatever else, a simple candlestick analysis that would take about 5 seconds accomplished the same thing for me. ==================== With that being said (I know, it was a smart ass reply) trading is one of the most time consuming and labor intensive things you can possibly do in your spare time. While there were candlestick reversal signals that met my criteria for a trade, it was not and is not about playing find a shape (which many new to candles do). Hopefully this gives a little more info for you to work on.

The market dropped b/c the charts were screaming a drop was coming.

DB - as my post said, what would be a great compliment to what you've done here is provide real examples from real trades. You've laid the groundwork with all the theories and book ideas, now letting us see how this works in a real-time environment is the next logical step IMO. That's it. That's all I was saying. The groundwork is laid, now show the reader how and when to apply this in real-time to the markets. That would be the next logical step in the education process, would it not? And like I said - it would provide some substance that many forums simply do not - the art of actually trading.

Does the instrument being traded matter? I mean, do the ideas carry over to the ES, YM, etc? If so, I don't see why it would matter who else is actually trading along with you as the important part here is to see actual trades being done. IMO that is where most threads fall short - failure to provide actual, real-time trades. We've both seen those magical, after-the-fact journals over at ET and it would be a nice change to see a forum area here show real trades with real traders being done. As a new person to your concepts, that would be vital to me - seeing the book stuff reproduced in real-time with real trades. I'm an admirer of your work DB and I would like to learn more, but I know for guys like me, the proof is in the pudding. And here, the pudding is providing REAL-TIME analysis and trades, not after-the-fact charts. Thanks for sharing and entertaining my ideas.

gecko - FYI - walter has been MIA for awhile now, so not sure he will respond. Maybe someone else will. Just a heads up.

I'm sorry DB, help me out - where exactly does it say here what you are doing tomorrow in terms of actual trades? I'm really interested to follow your new area and per our discussion here, I came to the thread you referenced but my simple mind did not find where you laid out the actual trading plan for tomorrow. Something simple for us simple minds would be great... example: I will short if XYZ happens. I will go long if ABC happens. Just to eliminate any confusion, that's all.

I see. What would be interesting would be track some real trades as a number of us have done throughout the CC. As for the CC, it was just like what you've done here - very active in the beginning (when I really put time into it) and then it died down. I have no desire to constantly be the one updating threads or creating new ones. Hopefully your new area will gather a loyal following to keep you busy DB.

I have but one question to DB or anyone using these ideas presented here - is anyone (DB included) using these Wyckoff related ideas to day trade in real-time? Some of the charts and ideas presented look great, but I'm curious how hard or easy this is to decipher in real-time, when it really matters. I guess it's easy to see a trend day after the fact and easy to say ignore certain tests or whatever you want to call it, but I have to wonder how this operates in real-time conditions.

TS, here's the guys on TL that are playing on the game (that I know of): brownsfan019 (me) MisterM8 xtradergruntx nick1984 there could be others, but these are the ones signed up under my link. I've received a few different guides to playing the game that I attached to this post. This site also has some great info: http://www.officersclubcg.com/cgextras.html Guide for simple, easy NW.txt Guide for 60M net worth.txt

Friendly bump since our forum membership jumped recently. CLICK HERE to start playing a fun little online war game. A few of us on TL have been playing for a while now and it's something to pass the time in between trades. It's free to play and if you sign up, I can help get you started. It would be cool to have a crew of all TL members at some point. Join now!

If your goal is +5 per trade, take +5.