Why Successful Traders Use Fibonacci Retracements

[Why Successful Traders Use Fibonacci Retracements]

especially that they be drawn from swingpoints right to left and not the traditional left to right.

 

Can you go into more detail on this?

 

Sent from my Nexus 4

[Topic Of The Month June, 2009]

I found this post on "What Made You Profitable?" interesting and have nominated it accordingly for "Topic Of The Month June, 2009"

[Better Volume Indicator and Tradestation]

That is a lot more complicated than his more recent versions! The one I have in tradestation the 'meat and potatoes; is about 5 lines. I think it is the most recent, he seems to have simplified the logic greatly. In short comparing is unlikely to be productive

 

Could you post the TS version, I'd like to look at the code and see if I can convert it to NT.

 

thx!

 

Mike

[Broker FDAX / FESX / ES]

Issue I had with AMP was there is no one in the office until just before the US markets open. Is that still the case? DAX position and no one in the office was scary. Otherwise great service.

 

I never had a reason to call them so don't know. I've always dealt with Dan, he always did whatever I asked. The only issues I had were during my account creation phase, just working out some settings and logins and etc.

 

Mike

[High Volume Spike Reversal Indicator Development]

Hi justlurkin/davem1979, thx for this indicator on NT. I picked up the first version you had in the thread, were you able to update it later with normalizing the volume concept? will appreciate a pointer to that. Also, have you or some one else ported the VSA No Demand No Supply indicator for Ninja Trader? thanks again.

 

I am also wondering if there is a newer VSA for ninja... ?

 

Mike

[Broker FDAX / FESX / ES]

Amp and Mirus with Zen Fire both offer FESX, FDAX, ES and all major futures contracts. I think it is important you choose Zen Fire, not Trading Technologies, if you are using tick based data (tick, range, volume -- non-minute charts).

 

I've been with IQfeed, eSignal, IB, and I found the best combination so far is Amp+Zen Fire. I am using NinjaTrader so that did weigh into the decision, there might be better data providers for other platforms. There was a huge difference for me. The second best was IQfeed+IB.

 

Just keep in mind Amp/Zen is futures only, no stocks.

 

Mike

[Volume Splitter]

Hi Tasuki,

 

I'm not familiar with who Hubert and John are but don't want to get off-topic. I understand that $233 is more than Tradestation, but it's also less than 1 stop on the ES with a few contracts and say 8 tick stop. I was just expressing that I think you can't be afraid to spend money to make money. If there is an advantage to having a faster computer, or faster internet connection -- if they made you more money -- then wouldn't you subscribe to them/buy them?

 

Anyway, I've expressed my opinions and I respect yours. Thx!

 

BTW, the nick stands for control-break, as in pressing the control key and break key on the keyboard -- back from the early days of DOS when that combination meant something.

 

Mike

[Volume Splitter]

Hey guys,

 

Great thread. There is a similar one on the Ninja forum as well that got re-started after the "dumb money" videos were posted. It wasn't long ago I found out about EOT and started researching them as well. So far they seem like good guys.

 

But I have to ask... you are spending a lot of time on this, a surprising amount of time in fact... if this indicator is so good, why don't you just buy it? I mean it is pretty cheap I think, one good trade a month and you'll more than pay for it...

 

Still with that being said, I would like the source simply because 1) I want to tinker with it in hopes of improving it, and 2) I also dislike having to lease them vs. being able to buy them out right.

 

However, at the end of the day, there is a lot of work going on here and I would think your time is more valuable -- just buy (lease) them... ?

 

Mike

[Scalper Software Indicators]

I went against my better instincts and bought the indicator (dots) and they

are complete garbage! and he's full of crap himself.

Cant stand these ass holes who sell this stuff knowing they dont make any money!!

Even the automation is garbage. He couldnt even give me a straight answer with even

basic questions.

Save your money.

Hope this helps.

 

I am extremely weary of anything without a trial period these days. I am happy with my current setup but I am a geek afterall so always looking for that new toy to keep it interesting. Better than boredom trading, after all.

 

If they can't even offer up a trial, then chances are it is pure crap -- at least in my line of thinking.

 

Mike

[What Made You Profitable?]

I primarily trade the ES. I try to go with the trend as much as I can, and I am only looking for targets between 2-5 points. For a long time (when I was losing money), I couldn't find the trend. I just couldn't see the benefit of larger charts. After all, I only wanted 8 ticks why the emphasis on such a big chart with 20 point moves? But once I finally started to "see it", everything made sense.

 

I tend to use a 10946 volume chart with some bid/ask volume on it to visualize for me the buying/selling pressure for the entire day. I avoid trading the first 30 minutes and last 30 minutes of the day.

 

Once a trend is found, I trade in that direction only, letting the counter-trend trades go by. I generally use a smaller chart like a 4 range of a 4181 volume chart for my entry.

 

I know some here have said they are indicator-less. I confess I still use a few indicators, one of my favorites being Murrey Math Lines.

 

I am curious how this matches up to other successful traders that are also trading the ES. Everyone has their own method.

 

Mike

[What Made You Profitable?]

I am new to TL not not new to trading. As I get to know TL, I ran across this thread and am glad to see these responses.

 

It lets me know that I am in agreement with my thinking and direction. Not long ago, I stopped trying to find the holy grail and develop an automated strategy that did all the work for me. I had been caught up in that loop (black hole is more accurate probably) for a long, long time (over a year).

 

Now things are really starting to click and the few indicators I still use are just to help me visualize long-term trend. I prefer to not counter trend trade, I just have patience to sit back and wait for my desired action (say, a long failure) to occur, then I pounce.

 

I've also adjusted my risk/reward to make sure it is at least 1:1. It used to be 2:1. Duh, that isn't going to work. :doh: I am trying to raise my average to 1:2 by having a runner.

 

I started a blog (Big Mike's Trading Blog) to help hold myself accountable for my actions. I felt that I needed to document my findings, my trades, etc, so I could later look back and see if I was full of crap or if I made sense. I also am finding that people are helping me become a better trader by seeing how they view my posts and how they would do something differently, it has opened my eyes to new possibilities.

 

Anyway, thanks again TL!

 

Mike