MrPaul

ok nm then lol

Good charting! How is your MP calculated? It responds well on your chart. On this site where I typically obtain my values they are different Daily Notes for Day Traders | Pivot Points for Index Futures and more

lol I wondered what you meant when you mentioned in chat the you had some bread cookin'. I thought it was a metaphorical thing. Baking is a good one, the more non cognitive the better I say, let's the mind reorganize.

I totally agree! You have to have something as a hobby as a way to recharge. If I go and do some right brain activities I come back to trading more relaxed.

Bought the book on Soul's reccomendation, and from skimming through it... A+ book! This one will get read many times over:)

ahh yeah? I hear that telechart and snapsheets just released a backtesting software. You may wanna check that out:)

Hi, What kind of strategies? and on what time frame?

100% agree:cool:

A good friend of mine, one of the most intelligent individuals I know helped me with some issues I recently had with my trading. He had me try what he called a "Thought Progression Exercise". You just apply it to anything you wish to really contemplate with the end result being an idea of what you can do to achieve something you wish to have. It only seems to work if you actually intellectualize on the questions and not just read them haphazardly. I figured a post on the subject might help somebody out. Here is an example using "consistency" as it pertains to trading. What is consistency? More winners than losers? More losers than winners with winners being much larger than losers? For how long? A week? A month? A year? Ten years? Under all market conditions? What exactly is consistency? Is consistency successful trading? Under all market conditions? What does trading success mean to you? Is your view short or long term? How is it measured? Against another job? Another trader? A standard of living? Will this ever change? What goals can you form from the answers to these questions? How are you going to achieve these goals? When will you start?

After reading "The Wisdom of Carl Jung" I was impressed by many quotes to say the least. A few had a subtle and fantastic parallel to trading. "It's enough to drive one despair that in practical psychology there are no universally valid recipes and rules. There are only individual cases with the most heterogeneous needs and demands-so heterogeneous that we can virtually never know in advance what course a given case will take, for which reason it is better for he doctor to abandon all preconceived opinions. This does not mean that he should throw them overboard, but in any given case he should use them merely as hypotheses for a possible explanation" "The greatest mistake an analyst can make is to assume the patient has a psychology similar to his own" "Unfortunately far too many of us talk about a man only as it would be desirable for him to be, never about the man he really is. But the doctor always has to deal with the real man, who remains obstinately himself until all sides of his reality are recognized. True education can only start from naked reality, not from a delusive ideal"

I would say I make 1-3 RT trades a day. If my first one is a biggie (+3 ER2 points per contract), I just take that and close down my platform for the day.

Welcome to the forums!

asop, reversals on what time frame?

Trading Gaps By John Carter CBOT - Section 5:

btw the above post was a joke if no one gets it:p

In geometrical optics, a focus, also called an image point, is the point where light rays originating from a point on the object converge [1]. Although the focus is conceptually a point, physically the focus has a spatial extent, called the blur circle. This non-ideal focusing may be caused by aberrations of the imaging optics. In the absence of significant aberrations, the smallest possible blur circle is the Airy disc, which is caused by diffraction from the optical system's aperture. Aberrations tend to get worse as the aperture diameter increases, while the Airy circle is smallest for large apertures. But if you meant focusing then.... "Focusing" has been referred to as "a procedure for attending to, and being aware of, the body's 'knowing' of the various situations we live in." This way of describing Focusing can be misleading. It's perhaps more accurate to say that Focusing is what you are doing, any time you pay attention to the feel or quality of what you mean and enter into the murky, unclear "edge" of "all that", opening it up by the use of different kinds of questions or suggestions and describing what you find in words, images or actions. Because we are interacting with a universe which is more intricate than our concepts, we have an implicit knowing "in the areas in which we interact", which is more than our concepts. Focusing is not a technique, but a naturally occurring human process. When we are focusing, we are intending to establish an interaction between our rational understanding and our somatically rooted “knowingâ€Â. See it's simple:cool:

Hi welcome to the outcome of this thread :p :p

I'm rolled:p

I'll be there

one.....billion trades....(dr evil gesture) haha:p I would have to agree with torero, If you haven't blown out after 1000 trades you have a fighting chance.

cool blog, I like his style...

Wish i could help you out, but I don't trade forex. Torero might know, you could PM him. I only trade equities and index futures:)

Hi rolange, This strategy as I know of it is used on index futures. The 7pm EST strategy I believe is for Forex. In my experience slippage is not bad and I have never had a bad fill. Hope I was able to answer your questons:cool:

I found this to be an excellent post by Dr. Brett! source: TraderFeed: What You Can Learn From The Opening Minutes Of Trading Is today likely to be a trending day or a range bound day? Are we likely to see volatile price action or slow meandering? Are we likely to test recent highs or lows? All of these are important questions for short-term traders as they begin their days. Because most stocks show a significant, positive correlation with the movement of the stock indices, handicapping the odds of the index moving in a particular way can provide a useful edge. Here are a few items on my radar during the opening minutes of trading. Hopefully I'll be able to illustrate some of them during tomorrow's Morning With the Doc session: 1) Trading volume in the first few five-minute segments of the session - Volume correlates very highly with volatility, and volume tells us if large, institutional participants are in the market. Low volume compared with recent norms tells us that we have a market dominated primarily by locals and we can expect lower volatility and range bound trade. The volatile, trending moves tend to occur when we sustain above average volume. 2) The distribution of the NYSE TICK ($TICK) and the Dow TICK ($TIKI) - Recall that the TICK measures are constant updates on the number of stocks trading at their offer price minus those trading at their bids. These provide us with the shortest-term sentiment information possible. As with volume, I am looking at how the TICK measures are distributed relative to recent norms. If we see both TICK measures skewed in a positive direction relative to recent sessions, the odds of sustained upward movement are greatly increased. Similarly, a sustained negative skew to the TICK measures tends to occur during downward trending days. It's where we see little skew and/or a mixed skew between the two measures that we tend to get range bound action. 3) The behavior of global markets - I keep my eye not only on European stocks, but also on gold, oil, bonds, and the dollar. If these markets are moving significantly and breaking out to new levels, we're more likely to see a repricing of equities. Quiet global macro markets provide little incentive for large traders to reprice equities, and that's when we see range bound drifting markets. 4) Recent trading ranges and support/resistance - Think in Market Profile terms. We want to identify the market's value range, and we want to identify how the market trades as we test the upper and lower boundaries of that range. The first range that is important to me is the pre-opening Globex range. I also want to look at the range from 7:30 AM CT to the open if we've had an economic report prior to the open. Ditto the 7:30 AM - 9:00 AM CT range if we get numbers early in the trading session. We also want to be aware of the previous day's range and how the market trades as we test prior days' highs and lows. If we cannot generate increased volume and participation as the market tests range extremes, we're much more likely to fall back into that range. 5) Distribution of volume, especially of trades by large traders - This is the data I gather from the Market Delta program. I'm looking at the proportion of volume in my instrument (usually the ES futures) that is occurring at the bid price vs. the offer. I also place volume filters on the data so that I only observe the distribution of large trades at the bid vs. offer. This tells me if large locals and large institutions are primarily buyers or sellers. I always want to be trading in the direction of the whales. Always. So there you have it. Every single trade I place is an idea derived from some combination of the above information. No, I don't look at chart patterns, oscillator readings, Fib levels, or wave patterns. If you utilize such methods and have found success, perhaps some of the above pieces of information will help your batting average. If those methods are not making you money, perhaps you'll want to weight the above factors more highly. The idea is to see *how* the market is trading and *who* is participating in the market. Within the opening minutes of trading, you can hold your finger to the market air and figure out which way the wind is blowing. That, in itself, can confer a meaningful edge.

Reaver, I haven't used any software offered on their site. All I know is it's a great place to get pivot levels on the fly!