patrader

What follows is my read of some of the subtle differences.On 9/2 the market was moving in a dominant direction but had not completed its volume sequence(bar 1 of sym lateral is pt 2) when the lateral boundary(pt 3) was created on the non-dominant side of the sym lateral.Completion of the volume sequence occurred soon after the open of 9/3. The market on 9/3 was also moving in a dominant direction but this time had a completed volume sequence when the lateral boundary was created on the dominant side of the sym lateral.HTH

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very interesting thursday(9/2) and friday(9/3) both ended with sym laterals but with subtle differences.

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Tams under the pace column on the left should the upper and lower be reversed?

For forex or currency futures like 6E or 6B i have found the Toyko open ok but London and U.S. better.Usually after london closes(11:30 am est) i stop trading the currencies.For the ES usually the first couple of rth hours of trading and last hour are best.Sometimes when the range expands than the middle of the rth day can be good.When there are important reports before rth open at 8:30 am est than a good trade may setup soon after the release.Trading the ES any other time in globex usually has more slippage.If trading CL than i stick to the pit hours.Check out this website for world market hours: World Financial Markets -- Current Open/Closed Status, Opening and Closing Times, and Holiday Schedule, Expressed in Terms of Your Local Time Zone

a little sunday nite fun.

Excellent observations Thales.Trends from the open are rare but usually occur when the market gaps big and never looks back closing at or near its high of the day.This type of day traps countertrend traders repeated all day who don't recognize the type of day early on and just fuels the trend.Days that close the gap early are usually either trading range or trending trading range days where trading both sides of the market can be successful depending the size of the range. When the market waits to close the gap till later in the day you usually get a spike and channel followed later by a retrace of the channel and then a closing of the gap.HTH

If you are serious about daytrading for a living then you must first have enough savings to live comfortably for at least 3 years while you learn this business.Then quit your current job and become a full time in training trader. Learn to trade the futures which don't have the $25,000 pattern day trading requirements.Realize that it will take much longer than you think to become consistently profitable.Give yourself plenty of time to properly learn this business.You must fully commit yourself to this business or you will be eaten alive by those that have put the time and effort in.Every year you will improve and strengthen your trading skills.The learning curve is steep but if you dedicate your life 100% to trading for at least the first couple of years you will see results.If you want to shorten the learning curve skip all the indicator learning and go straight to learning everything you can about pure price action trading.Don't trade real money till you have observed a market full time for at least 6 months, better yet a year or longer.Learn this market's behavior in all different market conditions.Be able to know what kind of market the day is developing within the first few bars of the day and have a plan on how to trade it profitably.Have the skill to recognize quickly after entering, that the market is telling you, that you are on the wrong side of the market and must either reverse or exit immediately.Develop the ability to think clearly when real money is involved.Start with 1 contract and trade it until you are consistently profitable.Don't average down.Then increase your contract size not the number of trades.Take your time and learn to trade correctly.You can't rush it.HTH

Gentlemen,start your engines!

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