phantom

See posts #170, #175. I also look at prior swing points, especially when I'm trading counter to the major trend. Luv, Phantom

J, I really don't have trades "gone bad" in the strictest sense. When I lose money on a trade its either because I get stopped out at my original risk point, ie the market just did not follow through (this happens, ya know) or I'm testing an idea with real money and it doesn't work out (this happened twice last month). Otherwise, I usually make money. I think it would be much more helpful if you posted a trade you lost money in and I will tell you where I think you went wrong... Luv, Phantom

OT, I am a day trader. I am in and out of the market in the blink of an eye compared to what you do. I am not afforded the time to casually discuss the options of a trade as it is happening. The reason I moved from position trading to day trading in the first place was primarily to reduce risk, and therefore to reduce psychological pressure. My remarks were not to provoke OR prove that my ... is better than your .... I think that what you are doing is marvelous. So don't take my remarks out of context and feel challenged by them. I've got plenty of readers who like my stuff; if you do not, I couldn't care less. But at least be honest with the newbies here. I'm not a trash talker and you "actually" know it. Luv, Phantom

By popular request... This is a trade where the euro made a clear double bottom and then reversed. I exited at the 1.4260 test of the prior high due to the heavy resistance previously seen in last night's trade. Not an extremely large R/R on this trade, but pretty safe bet, nonetheless. BTW, my thread is not meant to be a real time trading exhibition like yours is; it is merely meant to show the possibilities one can achieve when one applies the concepts I teach. We already know that trading is psychologically challenging; that is a given. Luv, Phantom

Here's a screen shot from yesterday's trade in the euro currency. The market broke below the support line and then consolidated right away before continuing downward swiftly. For a 14 tic risk per contract, the reward was around 175 tics per contract with no pyramiding (12.5:1 R/R). THAT'S what I'm talkin' about! Luv, Phantom

I figured you'd respond with something similar to that... Keep trading. I'll be glad to take your money. Phantom

Why is it that most of the men who argue on this site are from Australia???

Yes, optiontimer, I did ask why you posted this thread in the psych dept. Not to dis you, but using your reasoning, just about every thread on the site would land in the psych dept! Luv, Phantom

I've found good success in CL trading 30 tic range bars consolidation breakouts with a 20sma trend filter. (Thus, I don't ever add to a loser). Risk per trade is $320 but very easy to get profitable in this environment. Check it out! Luv, Phantom

YM trading on range charts...hmmm...might have to add this to my arsenal. Good stuff Maelstrom! Luv, Phantom

Differences of opinion are what makes markets. (I stole that one from somewhere). But, as humans, we rarely eliminate subjectivity from our thesis, don't we? Luv, Phantom

RE: signs of impending price surge I trade consolidation breakouts in trending markets. The best breakouts occur after the market has broken out against the trend and then reversed through the consolidation range and broken out in the direction of the trend. (False breakout > reversal). Lots of players get trapped in these situations and must liquidate their positions when the market reverses. This oftentimes leads to price surges/no pause continuation moves. Furthermore, the JY contract is prone to 2-3 day channels that, upon breaking out, lead to amazing moves. The longer the channel, the bigger the follow-through after the breakout. See for yourself if what I am saying is true. Luv, Phantom

Shooly, I've had a lot of success with BB's. I wait for "pinch zones" prior to trading the breakouts of the bands. Then I trade breakouts of closes outside the bands. If your desired market is prone to long channels within the pinch zones, move up in time frame until the pinch zones shorten. An example of a great chart for clarity of pinch zone breakouts: 10 or 15 minute EC charts. Check it out. Luv, Phantom

Shooly (and anyone else who cares), Why not trade 2 cars and take 1 off when you reach 15, 20, whatever ticks while leaving the other contract active with a trailing stop? Luv, Phantom

This thread should be entitled Manual AND Automated Trading. Much less arguing... Luv, Phantom

And Phil's charts are oh so pretty! Phantom

So, if Florida orange crop experiences a severe freeze, the limit move on the next opening was due to the trade imbalance, and not the weather??? Many would argue that fundamentals drive price. Phantom

RE: "Price makes a poor input to predict price and the passage of time does not motivate price." W.D. Gann himself disagreed with your statement, UrmaBlume. He said that "when time is up, the market MUST change!" I think I'll go with Gann on this one. Phantom

Is this a commercial software package that you acquired, and if so, what's it called? Phantom

Hi D/D, I noticed that your indicators for MSFT use settings of 9 and 40. Any particular reason you chose these settings? Thanks, Phantom

Quite the other way around. Closing prices will affect the outcome of the candlestick shape. The hammer is merely a representation of the fact that the closing price of a bar is near its extreme. Its looks like we are actually in complete agreement here... Phantom

I have a theory why the MACD will show divergence during corrective moves in a trend. Using the a-b-c correction as an example, I submit that as the market approaches the "c" point of the correction, which is usually a test of some degree of the "a" point in the correction, the market reacts with a rejection of price that usually does not occur during the formation of the "a" point. One can oftentimes see indication of price rejection (dependent upon the time frame one is looking at, of course) in the form of hammer bars while no such indication of price rejection exists around the "a" point. Since these price rejection bars have closing prices located near the extremes of their bars, the moving average of these bars will start to move in the direction of the trend earlier than the moving average of the bars that formed the "a" test point. This, of course, creates the divergence between the test points and the moving averages. Do or Die, in your days as a floor trader were you able to witness this phenomenon of price rejection during the consolidation phase of a trend move? Phantom

Exactly right. I still monitor 120 minute charts to see S/R and BB extremes, etc., just like I do with the EC market. Luv, Phantom

RE: Do range bars obscure the volatility picture? When I trade time charts, I look for consolidation breakout bars which have a much larger range than the bars inside the consolidation. These bars are considered volatility bars. They tell me that the market is moving with a thrust of activity. When I trade range bar charts, I still look for pinches in the Bollinger band that coincide with consolidation ranges. This tells me that the volatility of the market is subsiding. But since every bar is the same length, I can't look for individual bars that show me a range expansion. So the thrusting of price action is obscured. The trade is based on the overall market volatility, but the actual consolidation breakout isn't necessarily a volatility breakout per se. It could be, but the range bars do in fact obscure this. Sorry for the confusion. Luv, Phantom

Do you have any idea what sort of trading these people are doing, ie ultra short term v. position trading? Phantom