Susana

Beautiful well thought out post, thank you for that. Susana

This place is called Puretick.com and it's 100% major scam, they cannot trade or teach. The head trader, Alex, is also mentally ill, he treats his customers at times with disrespect. Avoid like the plague.

I don't have a preference, my only preference is to follow my trade plan. Short or Long makes no difference to me as long as I begin the day with no bias outside of what was plotted on the charts.

When you do your morning research, how do you determine what stocks are "In Play" for that particular morning/day ? Do you search for unusual volume and high advancement in relation to futures ? Do you search for the biggest movers as far as advancers or decliners? How does it work ? I could use some ideas and if you could please post the tools/websites you use to determine this I would appreciate it. Susana

Thank you for all your commentaries and suggestions. I want to take this opportunity to wish you all a great new year full of life and happiness. May God bless your families and your trading. With much love, Susana

It's not about being close minded, I've studied the markets and have traded for many years and have grown a very skeptical mindset when it comes to suggestions. Something along the lines of "not good" until proven otherwise. Still, that did not stop me from creating this thread and requesting for assistance. The decision to stick to reversal patterns was based on the fact that they turned my trading around and in the end, that is what matters the most, what makes money for me. I've learnt to be a very patient trader. I studied extensively market correlation to bonds, other indices, indicator divergences, market internals and found zero edge. Electronic market these days are too efficient. In the end, as the person who taught me once said, it's all about the math and the long term expectancy of your setups. Risk small looking for ample reward and in my humble opinion the best case scenarios for that are confirmed reversal formations that form around potential key areas of support or resistance. Just looking to improve not debate. Trading is very personal and a huge portion of success lies in your psychology and ability to mentally withstand the market traps, in the end what works for me, might not work for you and vice versa.

Very well, next time I have failing set up, I will post it.

For what is worth I have found the following to be useless. - Market Internals - Indicators or its respective divergence - Other e-mini correlation

Pappo, Yes, that's a great tip. Only take those reversal patterns that form around confluential areas, definitely a solid tip, unfortunately I already knew but your input is appreciated. Susana

Thank you for the PDF file, will read it.

I'm a pure price action trader, no indicators, no volume except for what I get from using constant volume based bars and a little market profile examination. Volume to me is something that sometimes makes sense, but only if we are at key areas, and other times it only makes sense after the fact. It actually affected my performance, so I simply dropped it and just use price because well, I do better just with price. I'm sure many like you, can use it to their advantage, unfortunately I never managed to find consistent gold in volume. I take this opportunity to thank you for your posts, fantastic work, you deserve all the accolades, I truly mean that.

I understand so what's interesting about this particular situation to you guys, that volume increased dramatically and that we went from an imbalance state to a potential balanced one? Because aside from that, I can't see much. Perhaps that's all there is and for some reason I'm thinking you guys are suggesting there is something else.

I understand about exhaustive volume, but without subsequent price action, volume it's unreadable at this point.

Trying to catch a bottom in a bear market is one of the hardest calls in trading. Until Oil can go back into convincing last resistance to become support I'm staying out of the long side, much safer to just short last support, chances are it will then be resistance. Regarding volume, for every buyer there is a seller.

Looks like a falling knife with zero buying interest.

Yes, with a risk reward ratio of that nature you can't go wrong, over the course of time the equity curve will surely grow. The reversals I just learned from studying thousands of intraday charts, once you study enough, they tend to stick to you. I don't add to trades, when I do that, my position is unprotected. Hence, why I only initiate from extremes.

Hi jonbig04, Yes the stop of the reversal formations would be a new high or low of the day. I don't play the failures as this would constitute buying high or shorting low. Great to see someone out there that trades similar!

Interesting suggestion, will look into the pit noise. Regarding, the stop placement, I don't touch the stop until the trade has somewhat developed into something productive. I've found that one too many times the quick relocation of the stop leads to unnecessary stops. As far as high risk, I respectfully disagree, my risk never goes above 1% on any given trade. Hopefully, you meant, low accuracy Thanks again for your time.

Yes, volume divergence helps a bit when spotting the reversals, sometimes the usage of oscillator divergence but many times I find the setups lacking these characteristics and working just fine. Tough call. Thank you for your reply.

Hello fellow traders, I'm a SPY/Q ES/NQ swing trader. However, I do use intraday to get my surgical entry. I guess you could call me a reversal trader as I'm only interested in low risk high rewards types of plays. Naturally, my accuracy is low, price I have to pay for looking for a minimum of 5-10X risk reward ratio. For the longest time I studied reversal patterns, I will list some of the ones I play: - Head and Shoulders, Inverse Head and Shoulders - Double Tops, M formations - Double Bottoms, W formations - Trader Vic's 2Bs I just don't trade them anywhere. For instance, I like to short high and buy low, this increases the chances of obtaining the high reward I'm after. To supplement this I use Market Profile Value Low and Value High areas, Globex High / Low and Previous Day Highs and Lows. For instance: A confirmed W formation at Value Low A confirmed M formation at Globex high You get the picture. I do well with this system, mostly because I have the correct discipline to let the winners run and I always know where my stop should be placed because the reversal formations are all well documented. After studying the markets for many years I concluded that entering in the middle is a mistake, at least for longer term plays, because your stop is very much unprotected. When you initiate your trade on the edge you are somehow protected by support or resistance and the confirmed reversal formation. This is the only way I have ever managed to consistently make money out of the markets, slowly, but surely. My trading size is a multiple of 2. If I'm trading SPY I use 200 shares, if I'm trading NQ I use 2 contracts. My first target is the next key area of Resistance if I'm taking longs or next key area of support if I'm taking shorts. My last target is an opposite play, in which I close and reverse with a brand new multiple of 2 size. I think that about sums it up. Now, that I have presented what my trading system consists of I would like to ask more experienced traders to help me improve it as any accuracy improvement would be tremendously welcome. Thank you for your time and cooperation.

Shoot, I completely forgot I had commented the same thing in the past. My apologies, feel like a dork.

Don't you guys feel that if enough horizontals are drawn one of them will surely serve a purpose but then again many of them will mislead?

All these snake oil services should be closed down for fraud. Look in the charts, there is no shortcut to trading. S

Ya I knew about that place but he is a little slow with the posting. Friend just gave them to me: Value High 970.00 Value Low 962.00 Point of Control 966.00 For ES 11/04 S

Hello MP Traders, Is there a thread somewhere where the MP values for the next trading day are posted after the close ? I trade the ES. Thank you S