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bakrob99
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Everything posted by bakrob99
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Super Accurate Intraday Indicators
bakrob99 replied to kingkongtracts's topic in Day Trading and Scalping
Con artists (also known as boiler room salesmen, or investment advisors .. take your pick) used this tactic to mail out recommendations. They would start with a mail list and split it in half. Then they would recommend BUY something to one half .... well you know the drill. Finally they'd call and after 6 or 8 winners in a row collect some cash and that would be it. Here's the lesson. IF IT AIN'T REAL .... IT AIN'T REAL. GET IT? -
NQ missed gap fill by 2 ticks ... GOOG halted. Interesting. ES needs lower prices IMO .. looking for 1449 and then we'll see. Best short I could manage in NQ was 2749 which is working nicely ... UPDATE: trade up 20 pts up and I am out ...
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This GOOGLE earnings miss points to a MUCH lower NQ down to 2664. Not necessarily today. I don't mean its going straight there ... but there NQ is showing signs of needing to go lower to find more buying interest.
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Wjen I use the TS Simulator I use limit or stop market orders. If Limit, I wait until the price has printed below the price I want then enter on the matrix by clicking on my desired price which is 1 tick from the print. That way I know I am using the correct testing information plus I am not thrown off by market orders which may fill at prices other than the one I want.
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Super Accurate Intraday Indicators
bakrob99 replied to kingkongtracts's topic in Day Trading and Scalping
1. You open multiple accounts. 2. You go LONG in one, SHORT in the other. 3. You're a winner. Not too tough -
To the Tina Turner tune ... What's luck got to do with it... go to do with it ... Only thing I need is patience and execution when I see one of my 5 setups. Then it's more patience. Then take a profit or get stopped. It's simple. Not lucky. But... thanks anyway.
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Yuup, but you can always get back in ! This does have the potential to go all the way back down to 1436 area in my books.... but I am not going to trade until the FOMC minutes come out. Now going to walk the dog.
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OK I give up... I'm happy enough to exit at the VWAP which was my target anyway. Thanks for the heads up - I was just goofin around .. that's all ! R
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Doesn't scare me .
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Hopefully they will love the 52's soon.
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Well, I'm short at 1457 so maybe I bought yours?
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Good call.. especially is you bought and held the bounce off yesterdays gap fill and VPOC test... which I did .. but holding overnight is not part of the plan.
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If you like hearing.. oh wait.. I see another key2 coming in, here's a key 1 ... Give me a break.
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I have 1480 as a possible short term top before a significant pull back and then I noticed that Mr. Neg's composite profile shows a Volume Node at 1479. So I'll be watching that area for signs of sellers and consider trying to hold a short from there. I don't see complete confluence in NQ however. NQ's potential resistance is higher than I expect NQ to be at when 1479 - 1480 is hit on ES - so NQ would have to be pulling back a little before it's expected resistance area. In the meantime, I'll take my 2-3 point ES trades and watch to see how rollover volume works itself thru the open interest.
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Here is an interesting article on why the FOMC will do MORE not less. If they do, then it might not be the disappointment you expect. FOMC will do more, not less.... | Tradingfloor.com
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Do you mean per day, week, month, year. Trading futures is all about making income for me, not return. I'd have to calculate return on what?? Margin, Risk$? Leveraged amount? Let's say the ES is at 1400 and its point value is $50. Therefore each contract is worth $70,000. So trading one contract if you made $35000 in a year - a good and possible target in my opinion - it would amount to 50% of the leverage amount. But on the basis of margin at $5000 per contract it would be 700%. What is the point of asking these questions. Will it give you something to shoot for in your mind? I suspect that you may be wondering how much is possible to see whether it is an activity which is something you wish to pursue. In my experience - pursuing this activity for strictly financial reasons is not an effective way to go about it and is going to lead to poor results.
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That's not true for weekly or daily setups, which was my point - as the setup he was showing was based on daily bars. The daily bar can be shown, the setup explained and the result can be viewed over the next few days or weeks. And the TL observers can see that it was done not by looking in the rear view mirror.
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I believe that new traders add and complicate trading the markets because they are not used to operating in a field filed with uncertainty - and they crave confirmation. The inevitable result is hesitation which leads to either missed trades or worse, getting in the trade at a worse price and higher risk. Then the answer seems to be to increase the stop size and accept larger losses as a part of doing business rather than deal the with uncertainty and enter the trade with a smaller risk and increased uncertainty. Simplifying ones approach takes screen time, and for me years or it.
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Fair enough, and I think that the Pristine method could be a useful start for new traders - but cherry picking examples form the past reduces the credibility factor.
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If you want to have more credibility in this community, why don't you post a chart and analysis with a setup that is in real time, based on daily bars. Your common sense method should easily show a setup where you can say .. if price goes to X, it is a buy or sell and the expectation is for Y to happen.
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EDT 10:50 Market looks lower to me, no buyers jumping in here UPDATE 10:54 Of course, the sellers aren't exactly jumping in either
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How I tell whether to buy a breakout through the highs or fade the move. The first chart shows the market pushing the highs of the overnight session (dashed dark red line) and the question is... GO WITH (buy) or FADE (short) this move. One other possibility is DO NOTHING. 3 choices. Next chart shows large BUYERS Lifting the Offer and buying the breakout using a stop market entry (Cyan volume). This is a sign for me that large buyers are getting long here. Now my interest picks up. Next chart shows a shallow pullback. This is an opportunity to get long with as stop below the prior swing low about 6 ticks below. Next chart shows even more buyers aggressively buying here. This is confirmation that the move is correct and you should stay in for higher prices. Next chart confirms the move further. Take profit or hold? Final part of this move is evident from the entire chart showing the large move up to within 1 tick of a prior high. Take this trade and what does it provide Risk 6 ticks... Potential 39 ticks. 6:5 to 1
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Mr Neg, Care to put up one of those fancy composite charts to help the rest of us figure out where the market might be headed?
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Market has already priced in BB easing. Anything less than QE3 and we sell off. Especially after this bogus overnight rally.
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For me, I trail my stop loss below bars which close higher than a prior bar;s high AFTER my entry (for longs). This may not be Breakeven, and most times it's not but a decent entry of a pullback can be managed this way successfully (on a short timeframe - example: 10K volume bar on ES). Breakout entries ... designed to go with momentum - I find youmust leave your stop alone until the breakout has moved significantly in your favour (ES minimum 8 ticks) So it's mostly reducing risk while leaving some risk on rather than going to BreakEven right away.