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roztom
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Everything posted by roztom
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Structure seems friendly to the upside.. this is shown in the upper distribution/balance. I am still holding for CLVN 1306-1307 area and added back on this last rotation... will scale out towards CHVN 1304... nice day very shallow rotation so far buyers still interested - so far......Tom
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97.50 IBH and 98.50 current developing intrday LVN & CLVN @ 98.75 are areas of interest..for this balance area up here... I am watching them to hold for a potential upside rotation. Is this an appropriate post for this thread? If this is not the spirit of the thread.. I will be glad to refrain from these kinds of posts. Best, tom
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I certainly do not want to pollute the thread..which is why I asked. Tx Tom
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That's what my 96.00 long was a scalp for 2.75 pts but I still have long from way down and trailing stops Will watch for CHVN @ 1304 and CLVN @ 1307.50... I only have 1 bullet left... but... no complaints... scaled out along the way.. did the small scalp on rotation and holding 1 ...Had a loser this morning on the short side was targeting yestertday rth low and chvn 85.50... Let me know if I shouldn't post any of this since I'm not sure it has any value and I'm sure when someone new shows up you should take it with a large grain of salt... and The Negotiator is the Thread Moderator - his call... Tom
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Yes I am watching for an add there but...weak response so far just tested it again, key right now or more work to downside.. Tom I added 96.00 since I believe there is some fuel above yest HOD& we held VWAP & Yest VPOC... Helmet on... This is not a trade recommendation... just FYI.. I do not know if I should post any of that... no real reason to.. I guess..let me know.. Tom Add: I am targeting the CLVN @ 98.75 for this add.. Filled@ 11:23 cst @ 98.75..still holding 1 targeting 1300 area... Tom
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Under 92.00 my last contract is the "Hail Mary Pass".. Also if the structure looks right I will add back..but I would like to see if we take out E period low and how we behave at the DVAL... 50% retracement... if we get there.. We just tested yest VPOC & VWAP..so interesting spot @ 10:42 cst. Tom
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OPen Test Drive.. I suspect that since this is a Teaching thread that I should watch my terminology in the strict definition sense... Whether it is Initiating or Responsive Buying is not of concern to me since OTF is active on the buy side and the buying was strong and IB wide... I "suspect that yest HOD might be taken out which may lead to the 1304 -1307 level if we break out of this balance area... However we could also fail from here or yesterdays high... We are still churning in the current upper balance area so I am thinking going up but must wait and see... Held the 96.00 ish area with a 95.50 low so far. Still holding one contract...long.. Thanks for clarifying my terms... I am forgetful.. I have forgotten the specific definitions and have morphed them into my own shorthand..Tom
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The Profile is initiative strong Open Reversal Drive + RE... I was refering to the rotation @ the CLVN 98.75 as Respnsive up there... the day type Is initiating Normal Variation... so far.. I will get back to trading and look forward to reading your posts... you are very knowledgable in MP.. Thanks Tom
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I only use targets when the structure suggests where it "might" go.. 98.75 CLVN is a key number... I have been left at the station many times by a tic or 2 so I look at where the selling will come in and try to put my order ahead of it... 2 tics is a general rule of thumb..if it misses than I just bail at a scale point and then wait to see if it was real rejection or just responsive... So far responsive..so far.. Still holding last one... The luckk comment comes into play seince when ever I get filled at my price at a limit where we tic current HOD.. @ 98.50 with 98.25 limit... I still call luck... within my trade plan. Semantic really.. I don't believe in luck intrading..though the market can throw a bone every so often and also take a piece too.. Tom
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There was good buying in the 96.00 area, will be interesting to see how it does if it rotates.. Just holding last lot for possible 1304 area... got scale at 98.25 I typically put order in 2 tics ahead of node...just luck today... Need that luck... Tom
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HI: I got fooled this morning. Sold early took small loss, reversed and scaled at yest IBL, NVPOC and holding for next scalle CLVN 98.75.. looking for 1304 - 1307 ish - maybe Tom...
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It certainly looks like the Buyers have left the building, at least for now... Tom
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How to Set Protective Stops Using the Wave Principle
roztom replied to MadMarketScientist's topic in Tech Analysis
I spent a lot of time studying EW and at one time used Adv GET software by Tom Joseph to try to implement it in real world trading. At least for me the wave counts were only obvious after the fact.. since there can be waves inside of waves...ex 5 minor waves inside a wave 1 or wave 3, etc... IT only made sense in hindsight... In reality, retracements are just Swing H/L's..you don't need a wave count to see that... One good thing I did get out of it was having a better understanding of impulse waves, especially wave three's... In addition the fibinnocci retracement and extension projections were useful though I don't use them today. Outside of that I couldn't use it for interday tradding..It was just another lagging indicator for me. I'm sure others find it a valuable tool. For me it was a good concept piece. Regards, Tom -
Like Many who have posted on this thread previously I am eternally struggling with Exit Strategies.. for ES. I basically trade the same entry but have 3 exits signals for scaling out: 1. Fixed target. 2. A Tight trailing stop that ratchets 1.25 points behind the market. 3. ATR Stop. My trade unit is a 3 lot. I hoping there might be traders here who have found better ways of managing exits/open trades... This is a long-term ongoing conundrum for me... #1. Fixed Short range target for a high probability win.. Almost 1/1 RR. #2. After 1st Lot exited stop brought even on #2 and trailed tic for tic. #3. Stop B/E same as #2 but trailed behind ATR. Anyone have a succesful process or any other tools that successfully attack this issue? I'd appreciate hearing from you. Thanks, Tom
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Thanks for the invite. I'll check it out... Since I don't know my way around the site, if you know of any area that has a focus on trailing stops/open trade management as well as initial stop management, I would appreciate being directed there. In the ES I tend to leave 1.5 - 2 pts on the table at the end of a swing and this can be a substantial percentage of an average swing based on my timeframe..so I am interested in seeing if there is any "fairy dust" out there so I can capture a bit more.. Thanks again for your time and welcome. Tom
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Greetings Fellow Trade Stalkers... Started in 1980... Futures..have traded almost everything... Now specifically Daytrade ES.. Trade Full Time.. Use MP/Volume Analysis + Some Indicators. Use High and Low Volume Nodes for Targets. Biggest Challange - Initial Stop Placement and Trailing stops. I tend to trade with the intra day trend taking positions on continuations... I can thread my entries pretty well... my risk is in the area of 1.25 - 1.5 pts..per contract. I scale one at 1.5pts and then manage the rest.. Since I am descretionary, within a rule based process I have not been able to program what I do..so I am not able to research the variables of different stop/profit methodology. I hope to learn what other daytraders are using and if there is a common solution that has risen to the surface.. Tom