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Again, it's not about original or repeat viewers. Are they coming back to learn more or for the drama ? Just a thought. Again, nothing to do with your strategy...just wanted to comment on your idea about the numbers saying it all. I will not further this anymore since I think I made my point clear. Onward with your thread.

Kind of like how traffic ONLY slows down when the accident is on your side of the road. Those numbers only indicate interest. They don't take into account if the interest is negative or positive (ie Value). Just a comment...not meant to be "bashing" the content.

Audio, video, and course materials for all lectures can be found HERE 1. Finance and Insurance as Powerful Forces in Our Economy and Society 2. The Universal Principle of Risk Management: Pooling and the Hedging of Risks 3. Technology and Invention in Finance 4. Portfolio Diversification and Supporting Financial Institutions (CAPM Model) 5. Insurance: The Archetypal Risk Management Institution 6. Efficient Markets vs. Excess Volatility 7. Behavioral Finance: The Role of Psychology 8. Human Foibles, Fraud, Manipulation, and Regulation 9. Guest Lecture by David Swensen 10. Debt Markets: Term Structure 11. Stocks 12. Real Estate Finance and Its Vulnerability to Crisis 13. Banking: Successes and Failures 14. Guest Lecture by Andrew Redleaf 15. Guest Lecture by Carl Icahn 16. The Evolution and Perfection of Monetary Policy 17. Investment Banking and Secondary Markets 18. Professional Money Managers and Their Influence 19. Brokerage, ECNs, etc. 20. Guest Lecture by Stephen Schwarzman 21. Forwards and Futures 22. Stock Index, Oil and Other Futures Markets 23. Options Markets 24. Making It Work for Real People: The Democratization of Finance 25. Learning from and Responding to Financial Crisis, Part I (Guest Lecture by Lawrence Summers) 26. Learning from and Responding to Financial Crisis, Part II (Guest Lecture by Lawrence Summers)

NEW FILE HERE 11/29/2008 (7:25pm CT) Option to choose input type (LAST, OHLC, etc) added in the indicator settings.

Exactly, if you use tick or volume charts it will be differrent between contracts because the amount of activity is different. If one is stuck on tick charts, I would suggest trying several of the larger fib numbers to see which one looks best (89-1597 most likely). As I said in another thread, using fib numbers for picking a single time frame has no mystical power. The advantage lies when watching multiple time frames...fibs do a good job (imo) of separating themselves more naturally to the market flow. Of course it also depends on your strategy. I personally have moved almost completely to range bar charts. They allow me to view the fractal nature of the market more easily since they don't get distorted by momentum/volume. Of course I trade without bar volume and don't find it necessary in a highly traded efficient market. My question with momentum/volume versus fractal price areas and cycles...is it the chicken or the egg? Of course my views tend to be in the minority.

***Old dll above was deleted*** New download link found in the indicator section located HERE. Should be faster and slightly more accurate.

1) Download vwap.dll from HERE. 2) Save it to /SierraChart/ 3) Right click on chart and choose "Study" or press F6. 4) Click "Add Custom Study..." 5) Double click on "Dynamic VWAP" 6) Select "VWAP with SD" or "VWAP without SD" and press "Add" If you only want one or two SD's you can remove them under Subgraph by choosing Draw Style "Do Not Draw". If you wish for it to develop throughout the day, just keep scrolling right to add white space until the first bar on the left is the first bar of the day.

"It's not where you start, it's where you finish." ....or something like that. Going back to the original poster... Maybe you could post a couple of snap shots to give us an idea at what your style is like. I have found that picking a few spread out fib numbers for time frames work well for getting an idea of the forces at work (same idea with SMAs on one time frame). It's not that the fib numbers are magical, but they do a decent job at naturally seperating themselves. One way is to also use ticks (like 55 or 89) for reading the pure PA, and then a 3m, 5m, or 15m for the middle time frame. Market Profile is also very useful for determining bias in the larger time frame for day trading. But again, it's hard for anyone to make any real suggestions without first knowing a little bit more about your strategy and personality.

Let's not kid ourselves...we all know the answer is always the Golden Ratio!! Hence the mystical 5/3/3 slow stochastic on any time frame for confirmation via movement in relation to price . For any of you who have never really studied any of this, it's really quite interesting how it all fits together and is related. Wikipedia such items as golden ratio, fibonacci numbers, brownian motion, stochastic process, etc.

What do you mean by "help page". Have you ever been to the following site? http://www.babypips.com/school/the_skinny_on_forex.html 209 / 1.53689 = $135.99 (since $ isn't the base currency)

Nice post...and this is exactly why a stop (which by my rules can't be moved back) is automatically placed when entering the market. If I quickly get taken out by some "fluke"...oh well. My risk was strictly defined and at that point I can continue to watch the market without emotional bias. Because as day traders we all know there will be another one right around the corner.

I would try Infinity or OEC for a demo. However, like BennyHey said, to continue the demo with the same username most want some kind of deposit.

Sticking EXACTLY to that situation... Situation A because they have the same positive expectency but B has a greater drawdown. One is taking on more risk for the same amount of profit. Now adding on to the situation, unless the strategy is extremely mechanical (very little discretion), ones that try to catch runs are a lot more difficult in the psychology department. A happy medium would be a high probability point where once price crosses a stop is moved up to that point. You lose a little bit because you have to move the target back a little to allow price to cross over and room for it not to come back if it is truly going to run. Don't want to get off topic...so I will leave it at that.

I would not necessarily disagree. However, if nothing changes then there would be no reason whatsoever to take a trade based off the 4H when you can just use the 1H. Because since you don't reenter until a new candle is created ("shipped already sailed"), you would only get one entry on the 4H (with the same Risk/Reward) when you could get multiple entries on the 1H. If nothing changes, the only reason one would want to view the 4H is to maybe stay with the larger trend. So the answer is literally yes, but realistically there is no reason to look at anything higher unless for finding bias to filter out some trades. I could be wrong, but I believe that the question about higher time frames was about staying in the trade longer than just a scalp. For this to be done, both the risk and reward would have to be increased so the amount of entries would have to be decreased since an ultimate stop is determined by the next line down. Hopefully I am making sense. Again, I am not necessarily disagreeing...I am just trying to clarify.

Yes, price is the same formation wise but has a larger average range per bar on a higher time frame. So for a 4H candle system would an individual only take trades at 00's (versus 25, 50, and 75) and just wait longer to take half off (e.g. 20 pips versus 5 pips)? If not then there would be no reason to move to a larger time frame right? My guess is that that's what the question was leaning towards.

opentick.com They also have continuous contracts so no need for separate charts/files. edit: I just noticed that they aren't accepting new users at this time while they update their "network infrastructure". However, I would keep an eye on them for when they open up the doors again. Depending how far back you want, you could use MT4 with a broker that allows futures and just export the 1m data. I think they only go back a few months though. If you don't mind paying a little there are several routes.

I gotcha. So reversals have nothing to do with the lines (00, 25, 50, 75). They are just trades taken when you have three like colored H1 candles in a row and you get an opposite one. Thanks for the clarification.

Thank you for clearing some of that up. I just want to verify that the 0.6400 would have been the only entry and at the most the 0.6425 and 0.6450 areas would have been potential stop areas if you still had some of the position on. It would be helpful if you could explain a little more about the difference between the two and how they are determined in your strategy.

I just want to clarify... 0.6400 was the entry at which time one takes profit a few pips later (not to get greedy since it's scalping as you said before). 0.6425 and 0.6450 were not entries because the ship had sailed. Why the second screen shot with price above 0.6450 if one was already out a few pips above 0.6400 and no entry was taken at 0.6425 on the same H1 bar? Also, by your rules you should wait for at least three red H1 bars before taking a reversal so one wouldn't have even taken an entry at 0.6400 right? Please correct me if anything above is incorrect. How do you gauge when to take profit? What is the average amount? How do you gauge your stop? What is the average amount? In my opinion, in order to be taken seriously with their strategy, one must answer these questions. Entries are only one peice of the puzzle. I'm looking forward to your responses (in all seriousness).

Thanks for the clarification...great information and I don't disagree . However, when most day traders talk about trend versus consolidation days (at least the ones I know), they are really talking about which side of the market will be more favorable to their trades. Is there a bias for continuation and letting profits run or is the market consolidating and one should look for trades with smaller targets in both directions? Knowing when the probability is higher for a day with "Trend Like Properties" can be beneficial for an individual who wants to keep it simple with the information outside the intraday realm. From what I have experienced, for many day traders the difference between an actual trend day and one with trend like properties is just semantics.

It all depends on the time frame and the concept of fractals within the market. One can "trend" back and forth around a POC during consolidation. Each of those legs can be as much of a trend as the breakout of that consolidation. If the market opens near the high and closes near the low with very little consolidation in the middle how can it not be called a "Trend Day"? Maybe I am missing something.

It's an old post (five months) and VERY basic, but this might help some....LINK. For example today we opened up inside the VA used on Thursday (950.50 973.50 986.00) which was also a virgin. Upon no interest overnight OR right on open, we "trend" down to the next VA's (900.25 908.75 924.25 and 912.24 921.25 924.75. At which point we start our exploration inside.

Haha, I wasn't talking about the "setups" themselves. I was talking about the visual aspect of the charts being crisp and clean...especially that second chart you posted. I'm just trying to give you a compliment!

Please correct me if I am wrong, but if you are adding back in doesn't that change the picture some? Couldn't that be looked at as not so much of a scale out as it is an exit and then reentry on a smaller time frame while having another position short (no scaling) on the larger time frame? Just another way to view it. I just want to keep everyone on the same page. The reason I bring this up is because of Head2k's response (which I just checked and noticed you answered...but I will post this anyways ). Btw, I love how your example images are so clean.

It's usually the biggest pawn that wins, so this time around I think (even though they are close) Obama will win. I would find it quite amusing to see the Democrats reaction to McCain winning though. However, McCain wining would ruin my risk/reward theory of the Republicans giving up the next four years on purpose to take back eight years the next time around. :rofl: