Applying Joe Ross Trading Methods

[Patuca 13]

Handle,

With those scalps how can you go two days without any setups? doesn't mr joseph have more than one setup? you mean you sat there all day for two complete days looking for one setup? if so, you best make haste and load the boat when you do find a setup.

[handle 10]

Handle,

With those scalps how can you go two days without any setups? doesn't mr joseph have more than one setup? you mean you sat there all day for two complete days looking for one setup? if so, you best make haste and load the boat when you do find a setup.

 

Patuca,

 

I am just posting my trading log. I did sit there for 2 days without a setup. And I do try to load the boat when I see a setup.

 

I am open to suggestions, and if I missed a setup that I should have taken, then I would like to know that too. I am constantly trying to become a better trader.

 

Thank you.

 

Tony

[Patuca 13]

Patuca,

 

I am just posting my trading log. I did sit there for 2 days without a setup. And I do try to load the boat when I see a setup.

 

I am open to suggestions, and if I missed a setup that I should have taken, then I would like to know that too. I am constantly trying to become a better trader.

 

Thank you.

 

Tony

Tony

Could you post the same chart but 5 min and in candlesticks .....lblack for bearish sticks and hollow white for bullish? Thanks.

 

I net scalped 4.5 points out of ES today and 6.25 out of the NQ and i missed much of the best scalping opportunities as i was traveling and it isn't a good idea to trade and drive at the same time. So, i had to trade when i wasn't driving and missed the best swing (two legs or more) scalps which would have given even many more points. I made 8 trades 6 winners two losers...i could not imagine no scalps for two days. I suppose you are looking for just ONE particular setup? Or is it more than one? I look for several. However,..so far you have 4 winners and no losers so i can't argue with that...just saying it would bore me in a terrible way to not take even one scalp over a two day period.

 

Patuca

[Patuca 13]

Trading is a business rampant with failure. HOWEVER, EVERY FAILURE BRINGS A TRADER CLOSER TO SUCCESS. If he can learn from it.

[sergso 10]

Trading is a business rampant with failure. HOWEVER, EVERY FAILURE BRINGS A TRADER CLOSER TO SUCCESS. If he can learn from it.

 

or closer to total ruin even if he learns from it unless he learns faster than he fails.

[Patuca 13]

or closer to total ruin even if he learns from it unless he learns faster than he fails.

obvious. Agree. ...time ....money...learning..failure...success..shades of gann..the symmetry of success...

[Patuca 13]

How do you control your failures? Or can you even do such a thing? Maybe not.. but there is a measure of control on the damage your failures can inflict on you. So..how do you control the damage that can be done through your failures while you learn success?

[handle 10]

Tony

Could you post the same chart but 5 min and in candlesticks .....lblack for bearish sticks and hollow white for bullish? Thanks.

 

I net scalped 4.5 points out of ES today and 6.25 out of the NQ and i missed much of the best scalping opportunities as i was traveling and it isn't a good idea to trade and drive at the same time. So, i had to trade when i wasn't driving and missed the best swing (two legs or more) scalps which would have given even many more points. I made 8 trades 6 winners two losers...i could not imagine no scalps for two days. I suppose you are looking for just ONE particular setup? Or is it more than one? I look for several. However,..so far you have 4 winners and no losers so i can't argue with that...just saying it would bore me in a terrible way to not take even one scalp over a two day period.

 

Patuca

 

Patuca,

 

I use a bar chart for trading Joe Ross's methods. He taught me with this type of chart so that is what I use.

 

Those are great trading results. Do you post your trading log somewhere on this site? I would like to see your trading. I don't really have a good strategy for the ES. I am following FT71 and eminitrader. They both use a Market Profile approach. Both seem to have similar success as you in the ES.

 

Thank you for your comments.

Tony

[WHY? 16]

Hello hello hello hello

[Patuca 13]

Hello hello hello hello

hello mr windbag..where you been?

[Patuca 13]

Patuca,

 

I use a bar chart for trading Joe Ross's methods. He taught me with this type of chart so that is what I use.

 

Those are great trading results. Do you post your trading log somewhere on this site? I would like to see your trading. I don't really have a good strategy for the ES. I am following FT71 and eminitrader. They both use a Market Profile approach. Both seem to have similar success as you in the ES.

 

Thank you for your comments.

Tony

I don't log..journal..or any of that stuff...just never have like doing it...however, if i am in the mood i will make live annotations on my trading chart. Here is one for today in the ES with more notes than i would usually put on it but for explanations sake i add more. This is ONE technique i use for scalping. I look for possible trend reversals and try to get at least 1 leg of profits but more if possible. Try to keep reward to risk at least 1:1 perferably 2:1. I manage trade by initial stop loss and actual stop loss. That is i am willing to exit if my actual stop loss gives me at least a 1:1 and a positive traders equation. That way mathematically i know i am ahead of the game. In other words, say my initial SL was 2 points and my initial profit target at least 3 pts. . If my actual risk ends up being only 1 pt then i am will to exit at a 1 point profit if price action after entry is lazy..slow...terrible. In slow markets i take what it will give me not what i necessarily want. But i do strive to keep my R:R ratio good and my traders equation positive.

 

Some notes about chart:

 

Horizontal brown heavy lines are support and resistance off 15 minute chart and of course high and low of previous day. Green line is an 20 ema. Blue line is same 20 ema but where the 20 ema would be on a 15 minute chart. Pink looking line is same 20 ema but where it would be on a 30 min chart and purple line is where it would be on a 1 hour chart. This just saves me from flipping back and forth between charts to see where price is in relation to each time period in terms of a 20 ema.

 

The gray line is a sma 89 basically it indicates the general trend of the day and normally it is best to get in shorting mode when price is below both the green line and the gray line. Generally you like to see the green line below the gray and price below both. When like this i focus on short side mostly. Not to say i wouldn't take an occasional long scalp but i wouldn't follow it too far.

 

For trades on the long side you want price on top..then green line..then gray line. That is, one focuses on long techniques. Again..that is not to say you can't short but you just know you can't follow it too far unless things change.

 

Todays trade was a short taken in the "long mode" therefore, i didn't want to follow it too far. It took about 13 bars to get to the exit and had one pullback that almost stopped me out. Nevertheless, i was able to scalp 2 pts and keep a decent R:R ratio and a positive traders equation. When shorting in a long mode just grab what market gives you or yo can easily end up giving it back.

 

Red..pinkish square is initial stop loss. Blue is entry. Brown square is exit.

 

The pink looking channel and wedge lines are self explanatory.

 

Maybe this will be interesting to someone ...if not just throw it in your delete pile :rofl: :rofl:

[bobcollett 10]

Hi WHY?

I missed you (my partners not happy with this :rofl::rofl:)

And your'e on the wrong thread.

And perhaps you were rolling over in your grave from the TTT comments.

Anyway,welcome back.And may all your goats turn into beautiful baby lambs.

kind regards

bobc

[handle 10]

No setups today. No trades.

 

Trade Results: 4 Trades. 4 Wins / 0 Losses. Ratio: 100%. Ticks: +40

[steve46 12]

Steve,

 

Thank you for your reply. I can attest that having a mentor is very important especially if someone is struggling. I paid a few thousand dollars for a private session. Paying for someone's time runs on the more expensive side, but will save you money in the long run.

 

Thanx Handle

 

Its good of you to disclose your (ballpark) budget for education...I am often asked about this....and I tell folks that paying for a skilled trader's time is expensive, but worth it IF you can find the right person...yes there's always the risk, but that's the nature of this business....no risk...no reward.

[handle 10]

No setups today. No trades.

 

Trade Results: 4 Trades. 4 Wins / 0 Losses. Ratio: 100%. Ticks: +40

[handle 10]

Trade:

Contract: CL

Entry Signal: Short

Entry Price: 106.52 (red triangle) No Fill

Exit Price: No fill

Entry Time: 9:40 CST

Ticks: 0

 

The market ran right through my entry. I was not filled. Pulled the order. Obviously the right move but without me.

 

 

Trade Results: 4 Trades. 4 Wins / 0 Losses. Ratio: 100%. Ticks: +40

[handle 10]

Trade:

Contract: CL

Entry Signal: Long

Entry Price: 107.00 (green triangle)

Exit Price: 107.10 (red triangle) Target

Entry Time: 9:34 CST

Ticks: +10

 

 

Trade Results: 5 Trades. 5 Wins / 0 Losses. Ratio: 100%. Ticks: +50

[bobcollett 10]

Trade:

Contract: CL

Entry Signal: Long

Entry Price: 107.00 (green triangle)

Exit Price: 107.10 (red triangle) Target

Entry Time: 9:34 CST

Ticks: +10

 

 

Trade Results: 5 Trades. 5 Wins / 0 Losses. Ratio: 100%. Ticks: +50

 

Hi handle

TRIPLE RUBBISH

regards

bobc

[handle 10]

Hi handle

TRIPLE RUBBISH

regards

bobc

 

Hi Bob,

 

I am not sure why you keep posting "RUBBISH" on this thread. Please explain yourself and be constructive.

 

Thank you.

 

Tony

[bobcollett 10]

Hi handle

I dont believe Joe Ross taught you to trade with the method you display.

Joe lived in South Aftica , a while back, and I had dealings with a forcasting sevice he offered.

My golf game on Saturday is cancelled . Maybe I will tell the correct version

I noticed WHY ? on the thread .

He is an excellent writer, so I was hoping he would tell the true story.

regards

bobc

[handle 10]

Hi handle

I dont believe Joe Ross taught you to trade with the method you display.

Joe lived in South Aftica , a while back, and I had dealings with a forcasting sevice he offered.

My golf game on Saturday is cancelled . Maybe I will tell the correct version

I noticed WHY ? on the thread .

He is an excellent writer, so I was hoping he would tell the true story.

regards

bobc

 

Hi bobc,

 

I am sorry to hear about your golf game being cancelled. However, I did meet Joe Ross in Texas in 2011 and he spent 3 days teaching me how to trade his methods. What you see here is my trading log of the trades I take with real money.

 

He teaches 5 setups and I only use 3 of them.

 

I am not sure of his forecasting service. He did not mention that during our time together.

 

Did you or WHY ever learn Joe's setups? Did you ever take any private training with him?

 

Anyway, maybe you can get a tee time on Sunday...

 

Thank you.

 

handle

[Patuca 13]

Hi Bob,

 

I am not sure why you keep posting "RUBBISH" on this thread. Please explain yourself and be constructive.

 

Thank you.

 

Tony

perhaps capt bob has has three losing trades in a row and hence is on a triple whammy bad mood...you may need to cut him some slack?...just a thought....you have 5 winners in a row..just many days waiting for them....i prefer to have that many or more in one day......capt maybe a golfing fanatic and could still be pissed about missing the game to see mr joseph...please understand...

[handle 10]

No setups today. No trades.

 

Trade Results: 5 Trades. 5 Wins / 0 Losses. Ratio: 100%. Ticks: +50

[Patuca 13]

No setups today. No trades.

 

Trade Results: 5 Trades. 5 Wins / 0 Losses. Ratio: 100%. Ticks: +50

you must have the patience of Job. I don't think i could stand that...so many days and no trades..i made 6 today..5 winners and 1 loser..all positive traders equation...all at least 1:1 rr and one that was 10:1 rr. It is hard for me to see how mr ross's setup did not appear at all today in the type of PA we had today. Did you happen to miss some?

[bobcollett 10]

Hi Handle,

I did a bit of a search .

There is lots of info on Joe Ross Methods on TL, so I not going to repeat it.

When you went on your course, did you learn the AMBUSH method.?

kind regards

bobc