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Simply buying or selling possible levels based on short term price markers doesn't necessarily constitute a "low risk" point of entry. It has to be in context with what the market has done and its behaviour around the price in question.

 

It does in my method of trading , works for me so don't judge it if you don't have a clue what your talking about. It worked like a champ so your argument doest hold.

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It does in my method of trading , works for me so don't judge it if you don't have a clue what your talking about. It worked like a champ so your argument doest hold.

 

Excuse me? I'm not judging anyone. One you need to explain things when you post, otherwise you are spamming my thread. Two, differences of opinion and debate are what drive thought and process enhancement. If you want to discuss things, post. If you don't, then don't post.

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Simply buying or selling possible levels based on short term price markers doesn't necessarily constitute a "low risk" point of entry. It has to be in context with what the market has done and its behaviour around the price in question.

 

There you go , the levels posted worked and the trend reversed, Did you learned anything ?

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There you go , the levels posted worked and the trend reversed, Did you learned anything ?

 

Ronin, in this thread I started it as a place to discuss things about trading. If you state things without backing them up you can actually do a lot of harm to individuals who have little experience. In fact, without explaining any reason why you traded where you did, what you actually posted looked like averaging. Not very clever. I'm not saying that you were as this may have been part of a well considered plan. I'm not even saying the trade wasn't a good one. I am saying you must explain things more. Perhaps you might benefit from discussing the markets in various ways too. There are lots of highly experienced traders with a wealth of knowledge on methods different from yours. As they say, "there's more than one way to skin a cat".

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There you go , the levels posted worked and the trend reversed, Did you learned anything ?

 

 

Even the most stubborn-headed trader must admit that a sample size of 1 is too small to base a conclusion on.

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Long from 1366.25 and added at 1367.50

 

Seriously, I'm not saying you can't post in this way. I'm saying you can't post in this way in this thread. You are more than welcome to start an additional thread in the forum.

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My Median Line based on ES 30M chart is trending higher and the target shifts with it. Now looking for 1378.00 But the 30M RTH volume was quite a bit lower than 10day average suggesting to me that we are in a day trading market and rotational in nature. Not sure whether we can develop enough steam to reach 1378.00 We'll see.

 

attachment.php?attachmentid=29989&stc=1&d=1342710674

2012-07-19_1107_ES_30M_ML_TARGET_TRENDING_HIGHER.png.287ecaf6672f9935d6d53f4ea57ae36b.png

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Ronin, in this thread I started it as a place to discuss things about trading. If you state things without backing them up you can actually do a lot of harm to individuals who have little experience. In fact, without explaining any reason why you traded where you did, what you actually posted looked like averaging. Not very clever. I'm not saying that you were as this may have been part of a well considered plan. I'm not even saying the trade wasn't a good one. I am saying you must explain things more. Perhaps you might benefit from discussing the markets in various ways too. There are lots of highly experienced traders with a wealth of knowledge on methods different from yours. As they say, "there's more than one way to skin a cat".

 

Understood , the levels were posted and the description was also posted and the reason for the trade was a reversal, simple. You are trying to get more reasons for the trade when there is none, other than already explained , so what is your problem? Have you ever seen a reversal before? If this is only a swing trades thread , then I apologize, but I have seen others post scalp trades, so why the scrutiny ?

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There were plenty of reasons to buy near Settlement today IMO. But those reasons for me, did not materialize until the impulsive wave up at 10:20 and the creation of a strong (very strong) Buy Zone which was a reasonable low risk high reward probability at 10:40-45 EDT.

 

Both the 5M and 30M chart shows evidence of buyers there.

 

The trick (IMO) in trading is to get in at the right time in advance of a favourable move so it's easier to hold for a decent profit. It's all about timing.

 

 

attachment.php?attachmentid=29990&stc=1&d=1342710967

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Understood , the levels were posted and the description was also posted and the reason for the trade was a reversal, simple. You are trying to get more reasons for the trade when there is none, other than already explained , so what is your problem? Have you ever seen a reversal before? If this is only a swing trades thread , then I apologize, but I have seen others post scalp trades, so why the scrutiny ?

 

We have had threads in the past where people post something like "bought x stop y target z" before. That's fine. If people want to do that then that's up to them. But as an exercise in helping other traders and each other in terms of how we view the market and the types of trade we take, I don't believe it is especially useful.

 

In any case, if you bought it simply as a reversal, I'm not sure I follow your logic entirely. If however, you had said something along the lines of you bought in anticipation of a possible reversal in the area of yesterday's closing range low, close, vpoc given and that we seem to have moved into vertical exploration you were looking for a good opportunity to go long, so when price was temporarily lower post figures release and you'd spotted price action supporting your assessment, then that may have been more convincing.

 

I'm not saying those were your reasons at all. I'd love to hear what your reasons were as I'm sure others would too.

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There were plenty of reasons to buy near Settlement today IMO. But those reasons for me, did not materialize until the impulsive wave up at 10:20 and the creation of a strong (very strong) Buy Zone which was a reasonable low risk high reward probability at 10:40-45 EDT.

 

Both the 5M and 30M chart shows evidence of buyers there.

 

The trick (IMO) in trading is to get in at the right time in advance of a favourable move so it's easier to hold for a decent profit. It's all about timing.

 

I definitely agree about timing. A 'good' price is only good momentarily in time whether you are looking in terms of days or minutes or seconds. So it's imperitive to get your timing close as well as your entry price.

 

Anyway Rob, could you repost your colour coding key for your chart please? Ty.

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We have had threads in the past where people post something like "bought x stop y target z" before. That's fine. If people want to do that then that's up to them. But as an exercise in helping other traders and each other in terms of how we view the market and the types of trade we take, I don't believe it is especially useful.

 

In any case, if you bought it simply as a reversal, I'm not sure I follow your logic entirely. If however, you had said something along the lines of you bought in anticipation of a possible reversal in the area of yesterday's closing range low, close, vpoc given and that we seem to have moved into vertical exploration you were looking for a good opportunity to go long, so when price was temporarily lower post figures release and you'd spotted price action supporting your assessment, then that may have been more convincing.

 

I'm not saying those were your reasons at all. I'd love to hear what your reasons were as I'm sure others would too.

 

I think you are looking for confirmation of a trade and you are looking at too many indicators at the same time that is why you odviously missed this reversal and will missed many more in the future. I keep it simple and only risk ONE POINT per each trade.

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...Anyway Rob, could you repost your colour coding key for your chart please? Ty.

 

I set the volume for each color gradient based upon average volume traded in the market I am looking at. The ES has the highest settings.

 

Basically, when the indicator takes the difference in Upticks vs Downticks and compares that volume to the qty set and shades it as follows:

 

For Upticks > Downticks

Dark green Smallest Difference in buying over selling

Lighter green Next incremental difference in b/s

Lightest green Next increment

Cyan Highest increment

 

For Downticks > Upticks

Dark Red Smallest difference in Selling over buying

Lighter red " "

Brightest red " "

Magenta " "

 

Orange is VPOC of the bar/interval on Total Volume charts not showing delta

* marks VPOC of bar interval on Delta only charts

 

3 or more Large bright volume clusters in a row signify to me that there were large traders making the decision at that price and a retrace to it is likely to find another group of orders waiting to be filled. Exceptions exist of course.

 

Areas with mixed single or double red green colors show choppy rangebound zones.

 

I try to stay on the same side as the Volume Breakdown when considering what the TREND IS for the timeframe being traded.

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I think you are looking for confirmation of a trade and you are looking at too many indicators at the same time that is why you odviously missed this reversal and will missed many more in the future. I keep it simple and only risk ONE POINT per each trade.

 

How is any of what I said "waiting for confirmation"? All of the information was readily available before the market got to that location.

 

Who said I missed the trade btw?

 

Edit: sorry, "looking for confirmation"

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I think you are looking for confirmation of a trade and you are looking at too many indicators at the same time that is why you odviously missed this reversal and will missed many more in the future. I keep it simple and only risk ONE POINT per each trade.

 

1367.25 is both the Globex Open and the Prev Day Close : Long 1366.25 and 1367.25 target is 1368.75

 

Where does the 1pt risk start from? The average of the entries at 66.75? 1pt stop is quite tight for most traders. It's interesting to see different styles at work I guess...

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Where does the 1pt risk start from? The average of the entries at 66.75? 1pt stop is quite tight for most traders. It's interesting to see different styles at work I guess...

 

Right, whatever. When you learn to make precision entries then you can start to have more tight stop loss. But if you keep critizising others and don't learn from them then you will never achive that level of efficiency.

 

Don't over analyse the trade, keep it simple and seek presicion for less risk. Hope you learned something today.See you at the Bank, lol :)

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Right, whatever. When you learn to make precision entries then you can start to have more tight stop loss. But if you keep critizising others and don't learn from them then you will never achive that level of efficiency.

 

Don't over analyse the trade, keep it simple and seek presicion for less risk. Hope you learned something today.See you at the Bank, lol :)

 

How am I criticising you or anyone else Ronin? I was merely pointing out that for many, one point is a very tight stop. I know some people do trade like this and if it works for you then that's honestly great.

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How am I criticising you or anyone else Ronin? I was merely pointing out that for many, one point is a very tight stop. I know some people do trade like this and if it works for you then that's honestly great.

 

Cool, no hard feelings, keep the good work.

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5Waves.

 

I draw them on my 10K Volume Bar chart. Helps to keep me in the trade and focused.

 

attachment.php?attachmentid=29991&stc=1&d=1342715259

 

Target just got hit, and cooincide with Upper Median Line parallel that I've had on this chart for several days.

 

attachment.php?attachmentid=29992&stc=1&d=1342715375

2012-07-19_1225_ES_10K_5Waves_Morning.thumb.png.8343c583c0a420492e988d96147c0c71.png

2012-07-19_1228_ES_10K_Dtarget(s).thumb.png.cc6fe7f76321ae698ebdaaf7eca0bcb8.png

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5Waves.

 

I draw them on my 10K Volume Bar chart. Helps to keep me in the trade and focused.

 

attachment.php?attachmentid=29991&stc=1&d=1342715259

 

Target just got hit, and cooincide with Upper Median Line parallel that I've had on this chart for several days.

 

attachment.php?attachmentid=29992&stc=1&d=1342715375

 

Thanks for the visual, helps to stick to following the charts and not all the noise out there.

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I also bought 67 flat this morning. I don't know if any of this is in Ronin's thought process, but for me the context was clear and the thought process went something like this:

 

1) Market is clearly in bullish mode (see the last two days).

2) In the more immediate context, overnight the market spent 100% of its activity above yesterday's close, and most of it above the high (bullish)

3) News coming out at 10am is a great opportunity to take it lower, to fill buyers.

4) 68.50 is not a bad location (see overnight and yesterday afternoon), but yesterday's close is 67.25, and the market could not sell below 66.00 yesterday into the close.

 

So, I know I want to buy, and I have a location (66 to 67.50). The bad news hits, and is a nice confirmation that I want to buy.

 

Nice volume as expected on the news. Buyers trying here... but of course, the market must shake a few more out, and so it goes to 66.50, supported well by substantial volume (25K in 1 minute).

 

The market tests 2 ticks lower on much lower volume, to 66.00, and the rest is history. The wave up was nice confirmation, but I was already flat at that point. I did not get a full position on at the bottom so scaling was not a good option.

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