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MrPaul
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Everything posted by MrPaul
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It may be in prop firms or other structures like that. But in many banks/funds/institutions it's formal work dress -
I thought I would start a thread on the ADVANTAGES of retail/private trading. Feel free to add... The ability to customize the workspace in fine detail (colors/space/smells etc.) No one watching over your shoulder, no one to report to. Ability to practice relaxation techniques that may seem intrusive or distracting in an office setting. The choice of complete silence, talk, or even music. The flexibilty to leave your desk at any moment, for any reason, without notice. Your choice of attire is limited only by your imagination. No dress code. Your trading machine is not dictated by office politics (as customized as you want it, with the platform you are most comfortable with, and the indicators you utilize the most) You don't have to feel pressured to trade, or be in the market constantly (the 9:30-4:00 grind)
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Interesting stat Dogpile.. Did you compile the info or find it somewhere?
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In "Trading Rules That Work" Jason Jankovsky explains his point on time frame control... "Different time frames are competing, and the intention of one time frame is not always the intention of another. Your best trades occur when your own time frame is the same as the time frame currently in control of the market at that point. When that changes, your trade is over.".... pg 27 I agree with this observation. If you do as well, how do you take advantage and to what degree? I utilize 3 screens which display 3,5,10,15,30 and 60 minute charts to gain a wide perspective on a certain product. How is your "workspace" organized?
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That is the only way I enter and exit a position. Brownsfan was spot on when he mention how you are trading with the momentum when using a buy/sell stop.
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Walter, I find the ES has much less of a range than the ER2. But as far as solid moves, I would say Yes, Yes, Yes!.... I find myslef trading the ES more and more these days due to the fact that once the moves starts it generally has some steady momentum. The ER2 is much more whippy and thin on smaller timeframes.
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Welcome to the site
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If they say it will go to 900, It won't. At least not until they think it won't. I would not be going long into this stock right now.
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Why does it look attractive to you? What support do you see at $300? Do YOU see a head and shoulders?
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JJ, I do not believe that is a test. It is just a point in which demand overcame supply. Although I am not thoroughly educated in VSA nomenclature I believe a test is more typically seen after an area of accumulation. P.S Also keep in my that when you do see a test it can be on high volume in a non cash market.
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Yes but not all the arrows, in my analysis I consider the first 2 arrows to the left to be premature short covering or just enough demand to attract more supply. The middle arrow to be the beginnings of more accumulation demand, but still at that stage just an oversold condition bounce. The last two arrows with the high volume I would consider longer term short covering mid-term accumulation. I should stress here that I look at patterns MUCH more than individual bars. Really the only time Im looking at individual bars closely is for an entry based on a much larger price and volume formation.
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You got it. In my experience it's the amount of relative volume. And also how many times higher relative volume appears during a move down with price bars showing signs of strength. The more times accumulation "hidden buying" takes place during the down move the more supply is absorbed and the farther prices can go. Here's a chart to look at: 3min ES from yesterday
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I think it is important when looking at charts like this to remember all the fresh supply at the top of the range has to become demand at some point but not necessarily accumulation demand. Therefore, instead of framing it as "hidden buying" framing it as simply "short covering" could help give a more precise picture. What happens next is what is important and what will help indicate the next possible trade. One thing has the highest probability of happening in my opinion. That is...The market to fall (breaking the recent bar(s) low) NOW... Does the market fall on light volume test the recent lows? bullish Does the market fall on heavier volume with spreads wider and closing at or near the lows? bearish etc. etc.
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Welcome to the site Marvin!
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Opening 17 points down on the fut's probably helps that last portion huh? :o (as of 8:25 cst)
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Yeah that's true, perhaps I should watch what I say in jest. But it just had me laughing the whole way through...
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P.S I think this one is even funnier...
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This is really really funny, this guy is really convinced he knows what he's doing. In my opinion this individual is either drunken, on psychoactives, mentally challenged. Perhaps all of the above...but it's pretty funny
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Imo... It's still a reflection of supply and demand no matter what the cause. Additionally, short squeezes near the end of the session won't be able to affect the background strength/weakness seen throughout out the day. For me the first 15min of the next day is paramount to the last 15min of the day prior for the very reasons we're discussing.
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agree 100%
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Abe, A friendly tip. Start looking for things that would signal to you that this trade will NOT work out. When you look at things from that perspective you can judge more clearly. If you start looking for reasons that it shouldn't/isnt work(ing) out and you don't find any, you have a better indication of strength than just being outright optimistic. Good luck!
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James, Notice how the market was gapped UP through resistance. Any moves to the downside here that show lack of professional interest (Low volume, Narrow Range down days) would be an indication of higher prices to come. I wouldn't call this a "spinning bottom", more of a pullback. Hope that helps!
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Wow 2nd Place is tragic. Very Sad...
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How is that book ranj? I heard from another trader that it did the Wyckoff method justice and was an interesting read.
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It was http://www.tradingmentor.net Not sure what is going on with it now though