Nvesta81

I find this to be a good question that I wanted to ask as well. I have been observing the markets (mostly the YM) and I find it rare to find a skew at all... seems like prices are always near the VWAP and the PVP runs through it, so there is seldom anything to trade at all, unless I am not using the proper tools. (the vwap I use was programmed by a third party for amibroker)

Yeah no doubt, I'm not trading real money on this yet. Just getting screen time and exploring different 'ideas'. I have been keeping an eye on the VWAP and PVP as well, along with market profile concepts, pivot points etc. Also seeing if I can tape read. A lot to absorb as a new trader . The thing about Woodies that I like it is seems to be very simple, but like you said, I will not put all my faith in one single thing... I still haven't figured out how to add the VWAP SD to my chart package, I use Amibroker, so I'll be searching for that later... Good luck trading everybody, interesting sell off we had today.

I'm new to futures and I have been exploring many different setups/techniques to use, one of which is the Woodie CCI setups. I find it very strange that this seems to work without paying attention to the price chart or key levels at all -- today I was following it along with their radio host calling plays and it caught a few good moves in the YM (that's the market I was paying attention to most, I could hear them call plays in other markets). I guess I'm just curious and wondering what some of you more seasoned traders think of this method, do you think it's bogus to ignore the price chart completely? I'm really intrigued by this method. It seemed to work from my perspective but I'm too new to form a valid opinion. Thanks.

Very interesting, love the videos. Thanks! Just a question to make sure I'm clear on something. When the price is below the VWAP and around the PVP, the reason not to take trades assuming it's going to go back up to the VWAP and possibly up to the SD - is it that the area is considered more 'random' than at around the VWAP? Because my first instinct looking at that video as a newbie is "hmmm well if the price seems to gravitate toward the VWAP and possibly upward to the SD, why wouldn't I enter the trade down here instead of waiting for it to touch the VWAP". So I'm assuming it has to do with less probability and that prices could continue to drop if they are at or lower than the PVP, whereas at the VWAP probability is on your side that it will continue to rise?

I paper traded that last one approx same area ,saw the nifty trend-line. I'm still new so I'm not yet trading with real money in futures, but I'm happy to see that other traders are spotting the same patterns that I am, a bit reassuring that I'm on the right track. Nice trade!

Fair enough. I just thought perhaps one chart per week to supplement the #s could be informative, sort of like a trade highlight of the week, a home run or a huge failure - at everyone's discretion of course. If you rather not post your trading plan, that's cool too. For what it's worth I like your idea as it is, I just meant to add a suggestion.

Another thing we could do is post a chart of either a really succesful trade we did and explain our analysis, or a really awful trade we did and try to figure out what we did wrong... That could serve as some good learning material for everyone.

Just wanted to say that I really appreciate you doing these videos, Jperl -that goes to SoulTrader as well for his videos... My gratitude to you both, they are very helpful to new traders like me. I hope some day I can return the favor.

Nice Videos. I'm a newbie, so I will ask my newbie question. Regarding ... What would you consider doing when VWAP is below PVP and price action is above PVP and thus above VWAP as well? On the chart I am looking at now VWAP is slightly below PVP but price action is quite above PVP, is this still considered a short entry? If I must post a pic of the chart I will but I'm hoping you can answer this one fairly easy as you are clearly not a newbie.

I'm going to revive this thread because I would like to see more people post in it! !1. Why did you decide to become a trader? I'm not even sure where I got the idea. Naturally I heard about stocks and had a pretty good idea how the whole thing worked, and I figured, there has to be a way to make a living off this with enough dough... well, sure enough, there is! I think what lured me is the freedom. I really don't see myself working for other people for the rest of my life... not much money in that either unless you are a doctor or some other fancy title that I don't really care to pursue anyway. 2. What steps or hurdles did you overcome to become a trader? The hardest part was being patient enough to build the bankroll, lot of years waiting for this day... I had to adopt the "Warren Buffet way" until I had enough . I still believe in his approach in the long run, day trading is mostly something I want to do on the side, but what will make me rich is definitely the well placed investments, in my opinion anyway... 3. Do you see yourself trading in the next 10 years? Absolutely. Until death most likely. I think the only way I will ever stop trading is if I become a billionaire, at that point it wouldn't be worth it any longer... but I don't think I have to worry about that one anytime soon.

One thing I've learned in my relatively short time trading the markets (I'm 26) is that trying to rush things or being too eager to achieve can really damage your portfolio and your spirit. This is a patient man's game, you have to take what the markets are willing to give you and just feel comfortable advancing at what seems a slow pace, if you can do that, you may even notice that you're moving forward much faster than it actually seems. Things happen so fast in the markets (intra-day) that your life may seem like it is in slow motion in comparison trying to grab every penny you can squeeze from it. But at your age time is really on your side! I consider myself young to be trading and you've got a pretty big head-start, you have all the opportunity in the world to become successful... time is definitely on your side, but just remember to stay cool and collected, in the end the turtle wins the race in this racket. It's good to be ambitious and to put a bit of pressure on yourself, but sometimes it helps not to focus too much on the destination and just enjoy the journey... Good luck. :thumbs up:

As a newbie futures trader I have a few questions I need to ask. I know that tape and pivot levels are important things to look at, and volume etc... but I guess that's what I'm really wondering, is what other 'clues' do you guys keep on your radar to feel comfortable enough to pull the trigger when it's time? I mean I often second guess myself in stocks when I reach a S/R level, because things look like will bounce off and just when you think you confirmed the move it changes.. how can you really 'know'? At the end of the day I think the only real advice one can offer to a newbie is to learn money management above all else.. because there is definitely a gambling element to this, but I would like to hear more from veteran future traders. I'm eager to learn as always... Oh, if you guys could point a newb to some "can't skip" reading material, I would appreciate it!

Thanks for the replies guys. I'm quite satisfied with IB for trading, it's mostly the charting that isn't really up to par it seems. I also would like a time & sales screen, I tried Ensign's trial program, that also gets data feed from IB, so far I'm happy with it, but I think I'll have to pay 35$/month or something in the end - noticed on their site that quotetracker has a free version, I might give that a go and see how it runs.

Hi, I'm new here. I've been lurking this site for a few days, and I must say I'm very pleased to have found it. Totally impressed with the quality of information here, and you all seem very nice compared to the other cess pools I have frequented online. Okay, so to my question(s): Interactive Brokers (IB) is my broker, and I have been viewing the trading videos on this site and realized that my charts are quite weak compared to those shown in the vids. IB seems to be lacking most of the features that are displayed in Trade Station. I am just curious to know if there are any successful e-mini traders here that get by simply with IB and their native charts, or would you recommend I get a third-party program to assist me? I am in Canada so I'm not even sure if the TS service is available to me, their site is a little hard to browse (or maybe I'm blind, ha). Just to clarify I have been day trading stocks for awhile now, I know my way around for the most part, but I'm new to futures, and I really think they would suit my style more than trying to juggle between stocks trying to find the right movement I'm looking for daily. Futures seem to be pretty consistent as far as trading patterns go (SEEMS, this comment will prolly get me shot! lol). Anyway, that's it for now, I'm sure I'll bother you all with more questions in the near future :P. cliffs: -Is IB good enough stand-alone or should I get a third party utility such as TS? -Are there any of you guys that get by with IB alone, no tape reading, and their basic chart setup? Again, great site, looking forward to your responses.