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blocp
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Everything posted by blocp
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emini I have been trying to work out a way to trade this method for the past 3 years and have spent most of those 3 years staring at price charts on and off calling trades out to myself with out any planning and thinking yeah I can do this then telling my wife how much cash we will have one day. I have about 5-6 note books full of different periods over the last 3 years where i've been focused for a few months, I would then fund a trading account, lose two or three trades then blow up, revenge trade lose more money and give up for a few months pretending to myself that i'm still doing it and learning by turning the charts on each morning. I will say one thing i did right was that I was lucky that I found Db quite soon into my journey and knew that if i was ever to succeed this is the way to trade so I haven't gone through the indicator phase really, maybe for a month in the beginning. But I have still changed trading vehicle several times like the FTSE, forex, the eurostocks, I then decided that to understand this properly the NQ would be the best choice as thats what is mainly traded on this forum, I also like it as the contract size is relatively small to start with. I have also veered off to VSA paid for a software add-on and paid for gary dayton chart reading master class thinking that having someone explain it vocally might help, but what I saw was basically what I've seen before on this forum, not a total waste of money but money I could have saved. I have only started doing this type of analysis properly and journaling it over the last 2 months, I suppose I thought by paying for the VSA indicator add-ons or garys course that I still wouldn't need to put in the really hard work. Well I have learnt more in the last 2 months since doing the studying and journaling everything I do, plus I have also wrote a trading plan out for the first time with some meaning and structure, there is loads to add to it but it's a start. I looked back over the trading plan for the first time this week and it felt great, a slight feeling of euphoria that things were coming together. I have also had so many aha moments in the last 2 months loads more than in the last 3 years. i'm enjoying being part of the forum, why was I a lurker for so long. if only I had got off my lazy backside earlier. right to the point and reason I started this post: I started looking at the 1 tick right at the beginning of my journey but couldn't read it at all, I then read Db's post again once he posted it in the 90 mins thread the one where he mentions taking the red pill, well I thought I'll have another go, what I did was scale the chart down so you can see all the waves about 15-20 mins in time like 09:30-09:50 this is if price is in a range. I watched this until I started to see waves ranges all the things mentioned in the forum clearly, I paid no attention to the 1 minute chart for the first 3 week in RT it was there next to the tick but I didn't look at it RT, now my brain is tuned to the 1 tick i can look at other TF at the same time, don't try to rush this I haven't 3 years and counting I have just re-read your post I don't know about not using charts that might make your trading easier like the cvb charts just because wyckoff didn't use them as we don't know what modern technology he would use, they after all contain price and volume which is what wyckoffs method is all about. they are as Db first pointed out excellent for getting rid of the low volume overnight trading, and for building ranges. i'm sorry for the long post, I needed a chance to get that of my chest, I hope it helps people stick with it
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Db I know I need to do my back testing but all the numbered notes relating to the arrows are my RT notes that I am making in real time, the notes in red are how I analyse what has happened after the fact, I want to avoid as much curve fitting as possible, what is the point in cheating yourself by believing you can make it trading. also do you or anyone else think that the setups are set in stone using this wyckoff method and once we have all tested our setups they will all match and we will be trading the same way, or could we all end up with different setups that we could all profit from? I am assuming that everyone will have different risk parameters, and will be able to hold trades longer, or might even be happy with less profit.
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hi john are you referring to the above chart? thanks
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thought I would add the 1 minute chart as it's referenced in the last post.
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here are my levels for today
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I didn't know if to put these charts in the journal thread or here. as what I want to focus on is the entry at point 15 this seems the best place for it. I saw this entry in RT and mentioned it in chat, Db commented that would you want to take it as there isn't much upside with minor R at 2664. This might be wrong but I think I would be quite happy to take it as how do I know in advance if price will go through R or not. what made me take the trade(in sim) was the way the waves behaved testing the S at 2656, in the W day trading course there is a wave chart which W talks us through and when he enters it is similar to this entry I feel. On the other hand this might be wrong and I am a lot less experienced than many on the forum so would be grateful for any opinions, this is probably why I am posting as i'm not 100% sure if this is correct thanks bloc
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here is my analysis of the 1 minute chart from yesterday, it seems clutered so I hope t is readable
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here are my levels for today, I keep doing the 10 minute analysis but I am starting to question it's usefulness, but for now |I think I will carry on with it.
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this is the wrong thread sorry
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heres a bit of doodling I have been doing tonight, it might be rubbish if so Db please feel free to remove it, but with all the talk of line charts I thought I would have a play around, I was also inspired by the work Gringo has done on the trading off daily charts thread, and thought maybe i'll start paying more attention to higher time frames not just the 10,000 volume chart.
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gringo, I tend not to look at this analysis too closely, not that I am uninterested but because I have great trouble shifting what I have read from my mind and it might interfere with my decisions during the trading day/week, which might be my loss. but after what we have seen today and having now read over your posts more thoroughly, well done, great analysis.
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here are my charts for today
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here are some charts from my journal for yesterdays session. I found it hard to focus yesterday and I don't know if it was me or being in chat, maybe making me think and question what I was seeing to much and not keep a clear mind. This has nothing to do with anyone in chat it's in my head and if I can't cope with it i'll just have to trade on my own. It's a 50/50 really because I am picking up so much extra valuable info, and it is really great to have people to talk to that have the same interest as me, none of my friends or family understand what i'm doing. But I am worried that I can get easily distracted too, I will see how today goes and hopefully I was just having a bad day, as I had no problem wednesday.
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hi niko, sorry I should have made my post clearer, I was more interested in looking at and showing how I might manage the trade if long, as oppose to where I got into the trade. I am only sim trading at the moment and still trying to create setups to go into my plan, so I don't really know how important it is to show entry's as they might not carry enough emotion, it is perhaps more interesting to show how I would attempt to get the most out of the trade if long. thanks bloc
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I have just noticed that I didn't add the points from the notes onto the chart position, I can't see an edit function on the post, so am re posting it.
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here are my levels for today, pretty much the same a yesterday there seems to be quite a lot of R up above, but this doesn't mean we can't get through it, I try not to have a directional bias as it does me no favors while watching price.
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here are some charts that I have gone over from yesterdays session, I have included 2 tick charts showing how I read the price once the long trade was taken, the notes in black that coincide with the arrows are all noted in RT as I am watching the price.
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here are my charts for today:
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I didn't really know where to place these charts but as this is how i spend the morning after the previous session going over all my notes and adding post session notes (in red) to the charts, and after all they are the main part of my journal this seems as good a place as any, they might not make sense but I hope someone get a bit of use out of them or can correct anything they think I have wrong or even a better way of analyzing something
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here are my levels for today, I keep posting these charts, they might be of interest to someone or they might not, but what it is doing for me is making trading like a full time job with daily tasks to do and bringing some routine to my life.(by the way I hate routine but am coming to the conclusion that it's the only way for me to have a chance of making it)
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here are my charts for today,
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here are my levels for today, i have noticed on the 10 minute chart that the 2723-27 area has been traded around over the last few days so maybe it might have some activity today. saying that price has strugled to get past 2721 so far.
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Db I seem to have made a mistake thinking that the WTF trade was the one I showed in my chart but I can see where it is now, I haven't been looking at volume at all, in fact when I pay attention to it it seems to cause more trouble than good. I only have it on the chart as I like how it makes the price chart stumpier. I have been watching the 1 tick since you posted on the 90 minutes thread about not trading and just watching, it's true after a while it all becomes clearer. edit: I have just read your last comment, thanks for the heads up, I have been watching the 1 tick and making detailed notes on the 60-90 minutes while I watch in RT. After I have 4 weeks worth of recorded days, I am going to go over them thoroughly and see what I can see and what is worth using, I will then go back over and backtest all the days that I have tick data for, which should be 90 and see if I can see the same setups, after this I am going to test it all on sim. I have just started doing it this way after 3 years of watching charts and not really having any structure to my trading and it's only since treating it like a full time job that things are starting to click.
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I don't know if this is a wyckoff set up but it's a setup i've been playing with over the last week and seems to fit in with reversals.
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here is my analysis for today, I am going to have a good look at which levels areas play out best as I seem to have so many choices on what levels to pay attention to during the session.
