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roztom
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Everything posted by roztom
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Very nice dance with the market...
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L 1409. 50 off IBH targeting 11.50 , 13.50 Edit: took first scale T2 now 1413.00 possibly 12.75 stop B/E... Ticked 13.00 took 12.50... that is all I know.. flat..
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I thought we'd get a bit lower 1408.75 IBH & single & MicroLVN 1408.75.. which is why I targeded 1409.75... I think this is an Envelope kind of day - not something I really do but currently I might be done for day unless something jumps out... If you are a envelope kind of trader this might be an ideal day to play that.. I already took a swing... but this is aligning with my envelope...3-4pt swings possible ...but that is not typically what I do but this seems like an ideal day for it...
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Took Short 1412.75 tatged 1410.75..ticked it...no fill :crap: dumped trasde second target was 1409.75 ish yest IBH... GRRR.. Flat ... :helloooo: Edit.. I botched this trade took pennies when I should still be short first target would have gotten filled if more patient... for +2.00 Edit2: It ticked my second target 1409.75 would have not gotten filled there... Either way I did mess this trade up... very annoying.. I guess there is some value in the thinking: Here's why I took short: 1. Yesterdays close shoed selling in front of FOMC... (NO Testes) 2. CHVN 1413.25 3. 15m bars from GBX had Flag projecting 1413.00 area... 4. Might get more Initial selling FOMC 5. Clueless...
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Looks like the first trade of the day is gone : long..off the 1408 area .. Probably going to stay range bound, IMHO in front of FOMC 1p cst... I am going to be looking for tests of VPOC above and GBX low...should be ok for short rotations but ACH... 3 - 4 pts swings... ACH.. I am going to try to trade off extremes = outside in... Of course clueless.. I am also going to lighten my typical package to 2/3 and go for short target scales... This might be a envelope kind of day.. Just my 2cts -
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I see form & structure in the bars as well as they tell me when a move is imminent... I initiate positions off what I read in the bars... OHLC help me see it...
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TO me they are the same thing... the bars show me more than the candles... I can't ever remeber a candle giving me any advantage over a bar..to the contrary a bar just says more "to me." I use candles on Daily chart only the rest shorter time frames are all bars, whether tick, range, even renko is a bar... I do not use volume bars since I have volume on the profile for interday..
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I like seeing OHLC in whatever I'm looking at... If you get a little squat bar that has open & close in same spot and in the middle it is a stalemate. If it opens on top goes down & closes on top then that is a mini hook means there were buywers on the dip... that kind of thing... When I watch candles I don't seem to get the same info... Might just be me...
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I do not use candles - herasy !! I llearned on bars and eventhogh I studies candles and used them for a number of years I really don't see anything more in them then what I see with a bar.. in fact I like to see where a bar closes and I can't see that on a candle... I'm probably the only guy left who still looks at bars... :doh:
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Scratched out my long ...if I had better location...wuda shuda cuda... it's ok...got head faked when the 12.25 number was THE number, imho...
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Light Fast long @ 14.50 very tight leash... 12.25 level I posted earlier ..Added and scaling to improve price...
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I've got to look into that.. When I try to watch the strip I get dizzy... too much eye-strain... as far as the DOM...all I read is when price gets real active and jumps around... I don't watch it I just see it out of the corner of my eye... I really depend on reading price charts and Delta... unfotunately when I believe it is time to pull the trigger, most of the time I enter a bit late since it takes time for a bar or 2 to print and also for Delta to but a bar in..all of it slows me down but I can't necessarily watch price, time, delta and DOM or Strip... I am going to have to see htough if I can get a better edge in not waiting for lagging stuff since it increases my risk and cuts down my potential profit... I have so much to learn... :doh:
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DO any of you read the DOM or Tape Strip and does that give you any edge or do you get the same results from reading Price/Bars and/or Delta?
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Well, I had a long fire off at 1:10ish cst against 14.75 but that's not my kind of trade location for reasons I already posted... In addition..I have nothing but htin air up here and not too many reference points to target... 1419.50 ish, 1423.00 ish and 1424.75... One of the things that I note is that the average big move these days is 20pts so we are basically in the ballpark...but I am clueless since we all know we don't know...
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Well, actually, now that you brought that up...... :rofl: I'm sure my rants piss everybody off... I even get annoyed when I read my own stuff...:crap:
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Any of you ever wonder why we're pretty much the only guys here, posting stuff or even just lurking?
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Taxes!!! That will put you in a foul mood... BTW, I'm taking mine to the PO after the close to send registered mail...dem bums..
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Suprised they can't get any more rotation out of this... I had a mini buy signal against the 14.75 area but they haven't even gottwen to the closest stops yet, just under 14.75 so there is nothing to do... no room and loads of stops just down below... At least to my way of seeing it... you got to get some longs out by taking some close stops and also have enough room for some rotation so you can get a scale out and then go for further extension but this has no room.. IMHO..
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One of the former largest grain floor traders in the World (dabbles as a screen trader now) who is a friend of mine used to say, "Got a Hunch, Bet a Bunch." I always thought, "Gee you're a gambler... not me"... :doh:
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That 12.50 still looks like good support but we might not rotate that far.. stops under 1414.75 -1414.00 area... based on me eyeing the 15m bars.. first test & rotation will be the best imho... of course subject to alignment.
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This is really a screamer today... maybe we will get some rotation over lunch after a test of current hod.. BTW..I can't imagine why someone would short here eventhough it is where one could short.. IMHO for a rotation..problem on a rotation is everyone (?) including me is waiting to be a buyer and one never knows where buyes might come for it...
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If I Hear "price Action" or "setup" ONE More Time...
roztom replied to joshdance's topic in General Trading
I'm not sure what price action is? Like UP & Down? If it goes up, I go long, if it goes down, I go short... -
I haven't sorted that out...I tend to give more creadence to RTH... I wish I knew statistically how valid GBX touches are compared to RTH... I still think there are enough traders who only look at RTH for those levels... and GBX are less...
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We have a interday lvn currebntly @ 12.50 & depending on structure stops could be in the 10.75 area as of right now... but given some time possibly the paper will move up and the risk side will go down for a continuation/rotation long...