bakrob99

Soultrader - What strategy have you determined might be effective using Market Profile and US 30 Year Bonds?

FYI ... Those are John Carter's Gap Fill rules. They are subject to modification/change over time as the key stocks may change.

I am trying to read it ... I have read half of it ... but it keeps putting me to sleep ...

It's the standard TS Indicator with the Alert Criteria changed: Here is the text: {RB MONEYFLOW} inputs: Length( 14), AlertLength( 14), OverSold( 22), OverBought( 78), OverSColor( Cyan), OverBColor( Red) ; variables: MoneyFlowVal( 0 ) ; MoneyFlowVal = MoneyFlow( Length ) ; Plot1( MoneyFlowVal, "MoneyFlow" ) ; Plot2( OverBought, "OverBot" ) ; Plot3( OverSold, "OverSld" ) ; Plot4((Overbought+Oversold)/2,"Median"); { Color criteria } if MoneyFlowVal > OverBought then SetPlotColor( 1, OverBColor ) else if MoneyFlowVal < OverSold then SetPlotColor( 1, OverSColor ) ; { Alert criteria } if MoneyFlowVal > OverBought then Alert( "MoneyFlow RED !!!" ) else if MoneyFlowVal < OverSold then Alert( "MoneyFlowW BLUE !!!" ) ;

Tuesday May 22 ... morning and afternoon - good heads up using MoneyFlow and Extreme Ticks - the choppier the day the better. Be patient on your entries ... you usually have 6 - 10 minutes to decide.

It's pretty simple - I've "watched" him trade for one year ... and I've seen brokerage statements which support my statement,

The implication is that he is doing this for the Trading Room revenue - which I do not believe is the case. The guy has traded for over 20 years and loves trading as an activity. Period. He will always be a trader. What has one (revenue source) got to do with the other? He makes a considerable amount from both activities.

That is NOT correct. And I can prove it. (But even if he did - so what?) Send me an email and I will show you why this statement is so stupid and based on what ... jealousy?

Monday May 21 - 2 Trades before lunch

one more trade later in the day ...

I have modified the standard TS Easylanguage - mostly to generate alerts differently - I apply my own voice for custom Sound Alerts and changed the logic to : ADX if ADXValue CROSSES OVER 20 then Alert( "ADX greater than 20" ) else if ADXValue CROSSES UNDER 20 then Alert( "ADX less than 20" ) ; MONEYFLOW { Alert criteria } if MoneyFlowVal > OverBought then Alert( "MoneyFlow RED !!!" ) else if MoneyFlowVal < OverSold then Alert( "MoneyFlowW BLUE !!!" ) ; The logic is standard but the settings I adjust ... Moneyflow 25 and 80 See chart attached Robert

Thanks for the encouragement WalterW... I'd be happy to create a new post and show some of my setups... and track their success. Moneyflow is a valuable indicator in my trading - Even if I don't take its signal as a trigger for an entry - it prevents me from jumping in at the wrong moment... and wait for a better price. I am new here and just learning how this site works ... so bear with me a bit. Robert

On Choppy days - there's nothing better than the Moneyflow on a 2Minute YM chart Have a look at today (May 17) For shorts - I combine Money Red entries with Tick Extremes usually above 1200 for a short. Wait for a retrace to the level that the Money last fired at - then press the ATM button !!! For LONG entries off MoneyFlow I am going to get another trigger signal... Crossover of price above the EMA34 is a good one.

You have got to be able to have +20 and +30 days if you are going to try to make +10 every day. No one ... Nobody ... Nada ... makes their goal Every Single Day ... 3 Stops and you're out for the day. ... If you get up +10 or +20 then keep trading until you get stopped -then quit.

I agree. BUT the catch is it requires consistency - every day +10 ... not easy You will have to do better on some days to make up for the inevitable loss days.

I think you miss my point. Let's say you randomly enter long or short ... based on nothing - just flip a coin. Can you come up with a strategy to make money under that condition? I think you will have an easier time doing so if you have a chance to scale out and move your stop up to let the other half of your position run. I met a trader who was complaining about losing money and was looking for a better entry technique (aren't we all). He took a mentorship with Linda Radsche - who demonstrated that she was able to make money based on random entries (long or short) by using proper money management. She demonstrated that it NOT ABOUT THE ENTRIES ... IT'S ABOUT THE EXITS.

I understand that you are trying to keep the risk to a small % - but explain to me please what is the difference from the trades perspective if you place 2 contracts with a 5K account or 2 contracts with a 25K account. The market doesn't know. I have found it easier to make $$$ by scaling out of positions which allows you to let the 2nd contract run ... the only way to make up for your inevitable stop losses. Scalping makes your broker richer and you broker.

Yesterday - May 14 07 there was a good entry around 14:45 at Friday's POC - LONG anywhere around 13345 (YM) and hold to the close for 45 points. Take the bounce off the POC AFTER the market has shown strength and bounced off the Daily Pivot (YM) at 13333. This was key for me - I didn't want to blindly Fade the Daily Pivot - so waited to see if it would hold and bought the retrace at Friday's POC. This type of setup/support happens a lot.

I don't need to see a chart - an explanation would do nicely. Is there some fundamental or technical reason for the prediction or is it a hunch. If its a hunch ... that's fine too. But let's track the success over the next 30 or 40 hunches to see if they are randomly correct.

Darthtrader ESignal has a tick by tick replay function so you can replay the day later on ... TS does not. I have traded TS using 1 contract and market orders and found it quite difficult to consistently make money. Main reason - you really need to be able to scale out - so my advice would be to find 1 (just one) setup that works for you and trade it using a simulator for a while - then when you start trading for real use at least 2 contracts and scale out of the first at a point that your entry hits it 75% of the time before it hits your stop loss... then let the other contract run.

Would have worked pretty well.

So Cooter Can you honestly say that you make 20 pts x All the contracts Traded Every Day on the YM (or equivalent 2pts ES)... Every Day ? If so ... what keeps you from increasing size as your account grows?

Your 10 pt. stop loss is a little tight ... if you are trading the YM 10 points means you have to be quite accurate in your trading entry... whereas 15 points will keep you in more potentially winning trades. My system uses 15 points hard stop and is currently running at 88% win/loss ratio. That means it hits its 1st target 88% of the time before it hits 15 points against. I have found 15 points to be more profitable than 10 but mostly because I only get stopped 1 in 9 trades. Also - trading on TS ... you can use limit orders to enter to ensure the right price and avoid "chasing" ... exit on tick extremes or pivot levels with a market order ... BY the way - if you add a contract every time your account grows by the minimum amount to add a contract ... and keep doing that - you will make well over $1.0 million within 6 months ASSUMING you acheive 20 points per day (the actual amount is much higher) Good luck.

WeiWei I dont see that chart as an example of Resistance becoming support ... I see it as a zone of resistance ...

Re: Nickm001 mod When I use this - it only works for Regular Session and not my custom defined sessions... Am I doing something wrong here? I'd like it to post the x-minute range for any custom szession I have defined starting from the (csutom) session's 1st bar...