keymoo

Very interesting again. The key to the kingdom is with no shadow of a doubt, price action, volume and tape and how they react to pivot points, fibonacci levels and value area boundaries. Nice nice, I will be observing these levels over the coming weeks. Watching your videos makes me feel so stupid as my trading has been terrible this week. I am the one supplying the good traders with profits. Let's hope that changes and I can switch over.

notuch, maybe you could pay someone to code it up for you? I know that TinGull had one done for Investor/RT. Great video Soul, thanks. Keeping things simple makes trading a lot easier, less for the brain to process.

I was expecting a decline also, but as a newbie I still got caught long on gold. The markets teach you a lot when you trade with real money. The experiences of the past week have been burned into my psyche. Thanks for the videos, helping me a LOT.

Forex Forum, Forex Calendar, Forex News @ Forex Factory has a good list of reports that will move the currency. If you don't want to trade the news release then make sure you're flat before the reports marked in red on that page.

Hi, I have modified SoulTrader's pivots to include labels on the trend lines. However, when the chart moves across the screen a new label is drawn. How do I stop that? Code below: inputs: DailyHigh( 0), DailyLow( 0), DailyClose( 0), WeeklyHigh( 0), WeeklyLow(0), WeeklyClose( 0), MonthlyHigh( 0), MonthlyLow( 0), MonthlyClose( 0), PlotDailyMidPts( true), PlotWeeklyMidPts( false), PlotMonthlyMidPts( false), DailyR3color( Yellow), DailyR2color( Yellow), DailyR1color( Yellow), DailyPPcolor( Yellow), DailyS1color( Yellow), DailyS2color( Yellow), DailyS3color( Yellow), WeeklyR3color( Cyan), WeeklyR2color( Cyan), WeeklyR1color( Cyan), WeeklyPPcolor( Cyan), WeeklyS1color( Cyan), WeeklyS2color( Cyan), WeeklyS3color( Cyan), MonthlyR3color( Magenta), MonthlyR2color( Magenta), MonthlyR1color( Magenta), MonthlyPPcolor( Magenta), MonthlyS1color( Magenta), MonthlyS2color( Magenta), MonthlyS3color( Magenta), DailyMidPtcolor( Yellow), WeeklyMidPtcolor( Cyan), MonthlyMidPtcolor( Magenta), DailyResSupStyle( 1), // 1 = solid, 2 = dashed, 3 = dotted, 4 = Dashed2, 5 = dashed3 ResSupStyle( 2), PivotPointStyle (1), MidPtStyle( 3); variables: S1( 0 ), S2( 0 ), S3( 0 ), R1( 0 ), R2( 0 ), R3( 0 ), PP( 0 ), Rng( 0 ), TL_S1( 0 ), TL_S2( 0 ), TL_S3( 0 ), TL_R1( 0 ), TL_R2( 0 ), TL_R3( 0 ), TL_PP( 0 ), TL_M1( 0 ), TL_M2( 0 ), TL_M3( 0 ), TL_M4( 0 ), TL_M5( 0 ), TL_M6( 0 ), StartDate( 0 ), StartTime( 0 ), Text_S1( 0 ), Text_S2( 0 ), Text_S3( 0 ), Text_R1( 0 ), Text_R2( 0 ), Text_R3( 0 ), Text_PP( 0 ); if CurrentBar = 1 then begin StartDate = Date; StartTime = Time; end; if LastBarOnChart then begin // Daily Pivot Points Rng = DailyHigh - DailyLow; PP = (DailyHigh + DailyLow + DailyClose) / 3 ; R1 = (2*PP) - DailyLow ; R2 = PP + Rng ; R3 = R1 + Rng; S1 = (2*PP) - DailyHigh ; S2 = PP - Rng ; S3 = S1 - Rng ; TL_R3 = TL_New(StartDate, StartTime, R3, Date, Time, R3); TL_SetColor(TL_R3, DailyR3color); TL_SetStyle(TL_R3, DailyResSupStyle); TL_SetExtRight(TL_R3, True); Text_R3 = Text_New(Date, Time, TL_GetValue(TL_R3, Date, Time), "R3 " + NumToStr(TL_GetValue(TL_R3, Date, Time),2)); Text_SetColor(Text_R3, DailyR1color); Text_R3 = Text_SetLocation(Text_R3, Date, Time, TL_GetValue(TL_R3, Date, Time)); TL_R2 = TL_New(StartDate, StartTime, R2, Date, Time, R2); TL_SetColor(TL_R2, DailyR2color); TL_SetStyle(TL_R2, DailyResSupStyle); TL_SetExtRight(TL_R2, True); Text_R2 = Text_New(Date, Time, TL_GetValue(TL_R2, Date, Time), "R2 " + NumToStr(TL_GetValue(TL_R2, Date, Time),2)); Text_SetColor(Text_R2, DailyR1color); Text_R2 = Text_SetLocation(Text_R2, Date, Time, TL_GetValue(TL_R2, Date, Time)); TL_R1 = TL_New(StartDate, StartTime, R1, Date, Time, R1); TL_SetColor(TL_R1, DailyR1color); TL_SetStyle(TL_R1, DailyResSupStyle); TL_SetExtRight(TL_R1, True); Text_R1 = Text_New(Date, Time, TL_GetValue(TL_R1, Date, Time), "R1 " + NumToStr(TL_GetValue(TL_R1, Date, Time),2)); Text_SetColor(Text_R1, DailyR1color); Text_R1 = Text_SetLocation(Text_R1, Date, Time, TL_GetValue(TL_R1, Date, Time)); TL_PP = TL_New(StartDate, StartTime, PP, Date, Time, PP); TL_SetColor(TL_PP, DailyPPcolor); TL_SetStyle(TL_PP, PivotPointStyle); TL_SetSize(TL_PP, 1); TL_SetExtRight(TL_PP, True); Text_PP = Text_New(Date, Time, TL_GetValue(TL_PP, Date, Time), "D PP " + NumToStr(TL_GetValue(TL_PP, Date, Time),2)); Text_SetColor(Text_PP, DailyPPcolor); Text_PP = Text_SetLocation(Text_PP, Date, Time, TL_GetValue(TL_PP, Date, Time)); TL_S1 = TL_New(StartDate, StartTime, S1, Date, Time, S1); TL_SetColor(TL_S1, DailyS1color); TL_SetStyle(TL_S1, DailyResSupStyle); TL_SetExtRight(TL_S1, True); Text_S1 = Text_New(Date, Time, TL_GetValue(TL_S1, Date, Time), "S1 " + NumToStr(TL_GetValue(TL_S1, Date, Time),2)); Text_SetColor(Text_S1, DailyS1color); Text_S1 = Text_SetLocation(Text_S1, Date, Time, TL_GetValue(TL_S1, Date, Time)); TL_S2 = TL_New(StartDate, StartTime, S2, Date, Time, S2); TL_SetColor(TL_S2, DailyS2color); TL_SetStyle(TL_S2, DailyResSupStyle); TL_SetExtRight(TL_S2, True); Text_S2 = Text_New(Date, Time, TL_GetValue(TL_S2, Date, Time), "S2 " + NumToStr(TL_GetValue(TL_S2, Date, Time),2)); Text_SetColor(Text_S2, DailyS1color); Text_S2 = Text_SetLocation(Text_S2, Date, Time, TL_GetValue(TL_S2, Date, Time)); TL_S3 = TL_New(StartDate, StartTime, S3, Date, Time, S3); TL_SetColor(TL_S3, DailyS3color); TL_SetStyle(TL_S3, DailyResSupStyle); TL_SetExtRight(TL_S3, True); Text_S3 = Text_New(Date, Time, TL_GetValue(TL_S3, Date, Time), "S3 " + NumToStr(TL_GetValue(TL_S3, Date, Time),2)); Text_SetColor(Text_S3, DailyS1color); Text_S3 = Text_SetLocation(Text_S3, Date, Time, TL_GetValue(TL_S3, Date, Time)); if PlotDailyMidPts then begin TL_M1 = TL_New(StartDate, StartTime, (R2+R3)/2, Date, Time, (R2+R3)/2); TL_SetColor(TL_M1, DailyMidPtcolor); TL_SetStyle(TL_M1, MidPtStyle); TL_SetExtRight(TL_M1, True); TL_M2 = TL_New(StartDate, StartTime, (R1+R2)/2, Date, Time, (R1+R2)/2); TL_SetColor(TL_M2, DailyMidPtcolor); TL_SetStyle(TL_M2, MidptStyle); TL_SetExtRight(TL_M2, True); TL_M3 = TL_New(StartDate, StartTime, (PP+R1)/2, Date, Time, (PP+R1)/2); TL_SetColor(TL_M3, DailyMidPtcolor); TL_SetStyle(TL_M3, MidPtStyle); TL_SetExtRight(TL_M3, True); TL_M4 = TL_New(StartDate, StartTime, (S1+PP)/2, Date, Time, (S1+PP)/2); TL_SetColor(TL_M4, DailyMidPtcolor); TL_SetStyle(TL_M4, MidPtStyle); TL_SetExtRight(TL_M4, True); TL_M5 = TL_New(StartDate, StartTime, (S2+S1)/2, Date, Time, (S2+S1)/2); TL_SetColor(TL_M5, DailyMidPtcolor); TL_SetStyle(TL_M5, MidPtStyle); TL_SetExtRight(TL_M5, True); TL_M6 = TL_New(StartDate, StartTime, (S3+S2)/2, Date, Time, (S3+S2)/2); TL_SetColor(TL_M6, DailyMidPtcolor); TL_SetStyle(TL_M6, MidPtStyle); TL_SetExtRight(TL_M6, True); end; // Weekly Pivot Points Rng = WeeklyHigh - WeeklyLow; PP = (WeeklyHigh + WeeklyLow + WeeklyClose) / 3 ; R1 = (2*PP) - WeeklyLow ; R2 = PP + Rng ; R3 = R1 + Rng; S1 = (2*PP) - WeeklyHigh ; S2 = PP - Rng ; S3 = S1 - Rng ; TL_R3 = TL_New(StartDate, StartTime, R3, Date, Time, R3); TL_SetColor(TL_R3, WeeklyR3color); TL_SetStyle(TL_R3, ResSupStyle); TL_SetExtRight(TL_R3, True); Text_R3 = Text_New(Date, Time, TL_GetValue(TL_R3, Date, Time), "R3 " + NumToStr(TL_GetValue(TL_R3, Date, Time),2)); Text_SetColor(Text_R3, WeeklyR3color); Text_R3 = Text_SetLocation(Text_R3, Date, Time, TL_GetValue(TL_R3, Date, Time)); TL_R2 = TL_New(StartDate, StartTime, R2, Date, Time, R2); TL_SetColor(TL_R2, WeeklyR2color); TL_SetStyle(TL_R2, ResSupStyle); TL_SetExtRight(TL_R2, True); Text_R2 = Text_New(Date, Time, TL_GetValue(TL_R2, Date, Time), "R2 " + NumToStr(TL_GetValue(TL_R2, Date, Time),2)); Text_SetColor(Text_R2, WeeklyR2color); Text_R2 = Text_SetLocation(Text_R2, Date, Time, TL_GetValue(TL_R2, Date, Time)); TL_R1 = TL_New(StartDate, StartTime, R1, Date, Time, R1); TL_SetColor(TL_R1, WeeklyR1color); TL_SetStyle(TL_R1, ResSupStyle); TL_SetExtRight(TL_R1, True); Text_R1 = Text_New(Date, Time, TL_GetValue(TL_R1, Date, Time), "R1 " + NumToStr(TL_GetValue(TL_R1, Date, Time),2)); Text_SetColor(Text_R1, WeeklyR1color); Text_R1 = Text_SetLocation(Text_R1, Date, Time, TL_GetValue(TL_R1, Date, Time)); TL_PP = TL_New(StartDate, StartTime, PP, Date, Time, PP); TL_SetColor(TL_PP, WeeklyPPcolor); TL_SetStyle(TL_PP, PivotPointStyle); TL_SetExtRight(TL_PP, True); Text_PP = Text_New(Date, Time, TL_GetValue(TL_PP, Date, Time), "W PP " + NumToStr(TL_GetValue(TL_PP, Date, Time),2)); Text_SetColor(Text_PP, WeeklyPPcolor); Text_PP = Text_SetLocation(Text_PP, Date, Time, TL_GetValue(TL_PP, Date, Time)); TL_S1 = TL_New(StartDate, StartTime, S1, Date, Time, S1); TL_SetColor(TL_S1, WeeklyS1color); TL_SetStyle(TL_S1, ResSupStyle); TL_SetExtRight(TL_S1, True); Text_S1 = Text_New(Date, Time, TL_GetValue(TL_S1, Date, Time), "S1 " + NumToStr(TL_GetValue(TL_S1, Date, Time),2)); Text_SetColor(Text_S1, WeeklyS1color); Text_S1 = Text_SetLocation(Text_S1, Date, Time, TL_GetValue(TL_S1, Date, Time)); TL_S2 = TL_New(StartDate, StartTime, S2, Date, Time, S2); TL_SetColor(TL_S2, WeeklyS2color); TL_SetStyle(TL_S2, ResSupStyle); TL_SetExtRight(TL_S2, True); Text_S2 = Text_New(Date, Time, TL_GetValue(TL_S2, Date, Time), "S2 " + NumToStr(TL_GetValue(TL_S2, Date, Time),2)); Text_SetColor(Text_S2, WeeklyS2color); Text_S2 = Text_SetLocation(Text_S2, Date, Time, TL_GetValue(TL_S2, Date, Time)); TL_S3 = TL_New(StartDate, StartTime, S3, Date, Time, S3); TL_SetColor(TL_S3, WeeklyS3color); TL_SetStyle(TL_S3, ResSupStyle); TL_SetExtRight(TL_S3, True); Text_S3 = Text_New(Date, Time, TL_GetValue(TL_S3, Date, Time), "S3 " + NumToStr(TL_GetValue(TL_S3, Date, Time),2)); Text_SetColor(Text_S3, WeeklyS3color); Text_S3 = Text_SetLocation(Text_S3, Date, Time, TL_GetValue(TL_S3, Date, Time)); if PlotWeeklyMidPts then begin TL_M1 = TL_New(StartDate, StartTime, (R2+R3)/2, Date, Time, (R2+R3)/2); TL_SetColor(TL_M1, WeeklyMidPtcolor); TL_SetStyle(TL_M1, MidPtStyle); TL_SetExtRight(TL_M1, True); TL_M2 = TL_New(StartDate, StartTime, (R1+R2)/2, Date, Time, (R1+R2)/2); TL_SetColor(TL_M2, WeeklyMidPtcolor); TL_SetStyle(TL_M2, MidptStyle); TL_SetExtRight(TL_M2, True); TL_M3 = TL_New(StartDate, StartTime, (PP+R1)/2, Date, Time, (PP+R1)/2); TL_SetColor(TL_M3, WeeklyMidPtcolor); TL_SetStyle(TL_M3, MidPtStyle); TL_SetExtRight(TL_M3, True); TL_M4 = TL_New(StartDate, StartTime, (S1+PP)/2, Date, Time, (S1+PP)/2); TL_SetColor(TL_M4, WeeklyMidPtcolor); TL_SetStyle(TL_M4, MidPtStyle); TL_SetExtRight(TL_M4, True); TL_M5 = TL_New(StartDate, StartTime, (S2+S1)/2, Date, Time, (S2+S1)/2); TL_SetColor(TL_M5, WeeklyMidPtcolor); TL_SetStyle(TL_M5, MidPtStyle); TL_SetExtRight(TL_M5, True); TL_M6 = TL_New(StartDate, StartTime, (S3+S2)/2, Date, Time, (S3+S2)/2); TL_SetColor(TL_M6, WeeklyMidPtcolor); TL_SetStyle(TL_M6, MidPtStyle); TL_SetExtRight(TL_M6, True); end; // Monthly Pivot Points Rng = MonthlyHigh - MonthlyLow; PP = (MonthlyHigh + MonthlyLow + MonthlyClose) / 3 ; R1 = (2*PP) - MonthlyLow ; R2 = PP + Rng ; R3 = R1 + Rng; S1 = (2*PP) - MonthlyHigh ; S2 = PP - Rng ; S3 = S1 - Rng ; TL_R3 = TL_New(StartDate, StartTime, R3, Date, Time, R3); TL_SetColor(TL_R3, MonthlyR3color); TL_SetStyle(TL_R3, ResSupStyle); TL_SetExtRight(TL_R3, True); Text_R3 = Text_New(Date, Time, TL_GetValue(TL_R3, Date, Time), "R3 " + NumToStr(TL_GetValue(TL_R3, Date, Time),2)); Text_SetColor(Text_R3, MonthlyR3color); Text_R3 = Text_SetLocation(Text_R3, Date, Time, TL_GetValue(TL_R3, Date, Time)); TL_R2 = TL_New(StartDate, StartTime, R2, Date, Time, R2); TL_SetColor(TL_R2, MonthlyR2color); TL_SetStyle(TL_R2, ResSupStyle); TL_SetExtRight(TL_R2, True); Text_R2 = Text_New(Date, Time, TL_GetValue(TL_R2, Date, Time), "R2 " + NumToStr(TL_GetValue(TL_R2, Date, Time),2)); Text_SetColor(Text_R2, MonthlyR2color); Text_R2 = Text_SetLocation(Text_R2, Date, Time, TL_GetValue(TL_R2, Date, Time)); TL_R1 = TL_New(StartDate, StartTime, R1, Date, Time, R1); TL_SetColor(TL_R1, MonthlyR1color); TL_SetStyle(TL_R1, ResSupStyle); TL_SetExtRight(TL_R1, True); Text_R1 = Text_New(Date, Time, TL_GetValue(TL_R1, Date, Time), "R1 " + NumToStr(TL_GetValue(TL_R1, Date, Time),2)); Text_SetColor(Text_R1, MonthlyR1color); Text_R1 = Text_SetLocation(Text_R1, Date, Time, TL_GetValue(TL_R1, Date, Time)); TL_PP = TL_New(StartDate, StartTime, PP, Date, Time, PP); TL_SetColor(TL_PP, MonthlyPPcolor); TL_SetStyle(TL_PP, PivotPointStyle); TL_SetExtRight(TL_PP, True); Text_PP = Text_New(Date, Time, TL_GetValue(TL_PP, Date, Time), "M PP " + NumToStr(TL_GetValue(TL_PP, Date, Time),2)); Text_SetColor(Text_PP, MonthlyPPcolor); Text_PP = Text_SetLocation(Text_PP, Date, Time, TL_GetValue(TL_PP, Date, Time)); TL_S1 = TL_New(StartDate, StartTime, S1, Date, Time, S1); TL_SetColor(TL_S1, MonthlyS1color); TL_SetStyle(TL_S1, ResSupStyle); TL_SetExtRight(TL_S1, True); Text_S1 = Text_New(Date, Time, TL_GetValue(TL_S1, Date, Time), "S1 " + NumToStr(TL_GetValue(TL_S1, Date, Time),2)); Text_SetColor(Text_S1, MonthlyS1color); Text_S1 = Text_SetLocation(Text_S1, Date, Time, TL_GetValue(TL_S1, Date, Time)); TL_S2 = TL_New(StartDate, StartTime, S2, Date, Time, S2); TL_SetColor(TL_S2, MonthlyS2color); TL_SetStyle(TL_S2, ResSupStyle); TL_SetExtRight(TL_S2, True); Text_S2 = Text_New(Date, Time, TL_GetValue(TL_S2, Date, Time), "S2 " + NumToStr(TL_GetValue(TL_S2, Date, Time),2)); Text_SetColor(Text_S2, MonthlyS2color); Text_S2 = Text_SetLocation(Text_S2, Date, Time, TL_GetValue(TL_S2, Date, Time)); TL_S3 = TL_New(StartDate, StartTime, S3, Date, Time, S3); TL_SetColor(TL_S3, MonthlyS3color); TL_SetStyle(TL_S3, ResSupStyle); TL_SetExtRight(TL_S3, True); Text_S3 = Text_New(Date, Time, TL_GetValue(TL_S3, Date, Time), "S3 " + NumToStr(TL_GetValue(TL_S3, Date, Time),2)); Text_SetColor(Text_S3, MonthlyS3color); Text_S3 = Text_SetLocation(Text_S3, Date, Time, TL_GetValue(TL_S3, Date, Time)); if PlotMonthlyMidPts then begin TL_M1 = TL_New(StartDate, StartTime, (R2+R3)/2, Date, Time, (R2+R3)/2); TL_SetColor(TL_M1, MonthlyMidPtcolor); TL_SetStyle(TL_M1, MidPtStyle); TL_SetExtRight(TL_M1, True); TL_M2 = TL_New(StartDate, StartTime, (R1+R2)/2, Date, Time, (R1+R2)/2); TL_SetColor(TL_M2, MonthlyMidPtcolor); TL_SetStyle(TL_M2, MidptStyle); TL_SetExtRight(TL_M2, True); TL_M3 = TL_New(StartDate, StartTime, (PP+R1)/2, Date, Time, (PP+R1)/2); TL_SetColor(TL_M3, MonthlyMidPtcolor); TL_SetStyle(TL_M3, MidPtStyle); TL_SetExtRight(TL_M3, True); TL_M4 = TL_New(StartDate, StartTime, (S1+PP)/2, Date, Time, (S1+PP)/2); TL_SetColor(TL_M4, MonthlyMidPtcolor); TL_SetStyle(TL_M4, MidPtStyle); TL_SetExtRight(TL_M4, True); TL_M5 = TL_New(StartDate, StartTime, (S2+S1)/2, Date, Time, (S2+S1)/2); TL_SetColor(TL_M5, MonthlyMidPtcolor); TL_SetStyle(TL_M5, MidPtStyle); TL_SetExtRight(TL_M5, True); TL_M6 = TL_New(StartDate, StartTime, (S3+S2)/2, Date, Time, (S3+S2)/2); TL_SetColor(TL_M6, MonthlyMidPtcolor); TL_SetStyle(TL_M6, MidPtStyle); TL_SetExtRight(TL_M6, True); end; end; Screenshot below of how the text is "dragged" across the screen. Any ideas on what I should do? Thanks, keymoo

Soul is the ShowMe available? I'm just getting started in EasyLanguage so don't feel confident enough code my own just yet - it will come though. Great video, I went short on the ER2 at the same time, as I find that the first approach of a pivot level has a high chance of bouncing the pivot line - this indicator would be a nice confirmation of that strategy.

I moved from eSignal to TradeStation and the charting on TradeStation is much better IMO. Could you explain a bit more why you think the currency futures in particular are better on eSignal? I personally did not find that the case.

Isn't the problem really one of liquidity? There has to be someone on the other side of my trade, right? Sometimes with the autoclick my fills are within 1-3 ticks of the opening price of the candle, sometimes it can be much larger depending on liquidity at the time. My fill times also vary between 1-3 seconds after the release depending on network, release time, the report, and other factors. I wouldn't say the service is worthless because I do get filled quite nicely most of the time. If you personally don't use stop-limits very often, what do you use?

notouch, so how do you set up your stop limits? Do you specify how much slippage you want to take? I've never used them and am curious to learn more. The way I understand it is, let's say the market is moving up fast. You set a buy-stop order at say 800.00 on the ER2, for example. The moment the buy-stop is triggered, the order turns into a buy-limit order at a pre-determined amount. So, if I want no more than 5 ticks slippage I would set the buy limit order to 800.50. Is that how it works?

Safwan has his software connected to Bloomberg, yes. I don't want to invest the time in coding my own software when I can lease it from someone else that provides a high quality service, that's all. I would be very interested to learn how I could use stop-limit orders to straddle news events - could you explain that. We could do it offline, or converse here, either way is fine with me. A few other people have suggested to me to straddle with stop limit orders, but I have heard some nasty horror stories of people getting whipsawed using straddle techniques. Please explain, thanks.

I use Safwan's, I think it's superb value as it is an institutional level feed which is quicker than any retail-level feed. I can often be in the trade within 1 second of the release, you wouldn't get that with a retail feed. One trade pays for a few months membership, I think it's amazing value - the software itself is superb. Felix's and Dustin's feeds are no good.

Soul, see my blog Forex News Trading Journal I have been trading forex and now much prefer currency futures as the forex bucket shops are unregulated and they have stop hunting software designed to take you out of trades. Most bucket shops take the other side of your trade so it is in their interest for you to fail, not so with futures. The two best instruments are the euro @EC and the british pound @BP. @EC has much more liquidity than the @BP but the @BP is still tradeable if you stay under 10-20 contracts, expect slippage if you go higher than that. Hope it helps, my blog shows you my entries and slippage I get, I have screenshots of TS charts and ToS. The best times to trade are from 0700 - 1500 GMT.

Interesting notouch. How do you set up your stop-limits? I've never used that order-type before. I am currently researching the Bernie testimonies for a pattern and will add this to my setups once my research is done.

Outside: Inside:

Well, I'm going to buck the trend here and say I was disappointed with this book. As I read through I kept waiting and waiting for the author to talk about tape reading, but he never did! The book starts off with an autobiography of how he started and leads on to various tech analysis setups which can be found in any good trading book and he talks about volume which is great. However, there were NO techniques on reading the tape (time and sales). None. There was not even one single screenshot in the whole book of Time and Sales. If I wanted a general tech analysis book or a book on price and volume, I would have sought that out, I wanted a book on tape reading, and this book does not deliver even 1% of the topic of tape reading. A big disappointment. I am still wondering why the book was called Techniques of Tape Reading, I am amazed.

Ant this is awesome. The Date field seems to be messed up, could you repost the files with the Date column formatted right? I can't work out the dates. Or if there's an algorithm I need to apply to the date, let me know then I can import it into my db. Thanks

What's the proper spelling?

I'd like to know also. Give Ben a call or email him, he'll tell you, he's a very nice guy to chat to.

Guys, thanks for your thoughts. I think what I have learned from this is that I need to test things before implementing them no matter how good they sound in a book. Anyway, I thought I'd show you the other side of the coin and the necessity to be consistent. I took a very similar trade on the ES today where I was fading VAH, and a mid-pivot. I only fade mid-pivots when the distance between pivots is large, which today they were. Anyway, my sell limit got filled at the top of a trading range, and then the market sat there for over an hour doing nothing. I should have got out according to the time-stop within 20-30 mins, but I decided this time to leave the trade to run its course. Of course, this time I got stopped out by buying the high of the day. Great. So, the moral is, test, test, test.

I really like office 2007, but you're right vista sucks as a trading platform.

Very eloquently put PivotProfiler. That is precisely the reason I got out of the trade. However, I should slap my own wrists because I have not tested the time-stop theory for myself in backtesting (too much system backtesting to do), but I do like the theory of it. However the risk in this case in getting out was that price moves in the direction I was positioned in once I have gotten out. The risk in this case is opportunity risk, and in this business we need winning trades to make money, right? I would be interested in what you have in your own trading plan with regards to time-stops. Would you share? Perhaps have a chat over skype or something? Thanks! keymoo

Thanks for the comments guys, some great thought there. I guess I just need to test it. I don't mind taking a bit of heat, no problem if it happens right away. But waiting 30-40 mins with price sitting there doing nothing is not exactly a great momentum trade. If price had gone up I would have been saying to myself, great trade you got out with 1 tick profit instead of stop loss getting hit. Thanks for the comments.

This is where I get mine from http://disktrading.is99.com/disktrading/

Yes I use that for execution and its awesome and use eSignal for charting.

Hi guys, I had a frustrating experience today (Feb 12th 2007) on the ES. Price dropped through yesterday's low and I set up an offer to sell 1 tick below yesterday's low on a pullback. The market condition of the day was a sell off followed by some downward-biased chop. See chart attached time is EST. My sell order was filled at 1436.75 and my target set at 6 ticks 1435.25 with my stop placed at 1438.25. For the next half an hour we chopped around so I wanted to get out as my prediction had not come true. In the book Phantom of the pits (http://www.futuresmag.com/cms/futures/website/phantom/a+little+history), the phantom recommends that you get out of losing trades ASAP. Put a time limit on them and if your position direction is not confirmed then get out. This is what I did for a 1 tick profit to cover commissions. Now, the most frustrating part is that as soon as I exited my position price moved in my direction and hit my target within 4 minutes. I just needed to vent my frustration. Should I have left my position as it was and just set it and forget it? Should I try and cut losses short by exiting positoins that don't move my way within 15/30/whatever minutes? Should I always let my stop get hit or exit before? I would appreciate some guidance. Thanks! keymoo