ah denied the charts LOL!
Again, this can be plain hindsight. Take note!
ah denied the charts LOL!
Again, this can be plain hindsight. Take note!
Hi Feb,
it's great to see you back on FF. I have been a scalper for some time. I use a 1 Tick chart for trading along with a Five Minute chart for support and resistance areas (based on swing high and swing low). Oh, a couple of items I cover a lot of focus to on my charts would be range and series of highs and higher highs. I've never grasped how to trade as if you do without the charts.
After reading your previous thread, one of the things I found most inspiring was the wisdom you shared. In reality, by the time I was reading the thread, I'd 25 pages of notes! I believe there's never a time when I could say I understand all of it. It seems there's something to be learned.
Once again it is great to see you again. I so appreciate. Best wishes to you.
Coach
Hey feb,
I'm interested in what exactly you look at once you read the tape. Do you utilize TimesSales, DOM, or only a quote board??
Do you use brackets when you watch it and exactly what role plays volume (I read in another post from you which you are trading currency trading) and speed of the tape?
thanks
You're welcome!Originally Posted by ;
Thank you for your good wishes!
Oh yeah brackets all of the time!!
I used to see TS but the DOM is easier on my eyes. Plus I get more data.
The bracket takes preference on the rate of this tape.
Hi Feb,
Apperciate you launching a new thread, I liked reading the first post and love the name.
I have been keeping the system II installments as a bread and butter of my trading style, at the same time I have been trying to add new ways of analyzing the market as my read on the 5min charts is improving I see longer entery opportunities.
I got a question in regards to a chart,
I really like the entery and now I have been carrying postion like that, but what I would like to know is about riding the wave, I would have no problem riding it excapt not knowing how to address that bullish possible reversal that's occured hour afterwards from entery (shade), I wouldn't hold on to the postion when I see such motions contrary to my position, how do you deal with that if you're holding to the position to totally ride the wave? Are you not using tight stops on these type of enteries? No more trailing stops?
Thank you.
I spoted a simillar opportunity earlier, I took the very first entery then exited to the very first sign of weakness, only wanted to get your comment about how I played it. What did I may improve or do wrong/right?
Thank you.
This new thread is simply laying online I trade based on tape scanning. The machine II is just another animal. Some people asked me about how do I test the market and here is pretty much how I do it. That charts are meaning like I have all the ducks lined up to make a 26, that I'm simply throwing it .
When you've got a big ass candle coming against your place , and you also get stopped or you simply bail off, to put it simply, start looking for one more entry. If you spread the load across the day, you will not mind a re-entry.
It's a trade off. In reality the outcome is known by none. You have these days the market is wacked off. Seems like that market came back to the long side and reversed back to the brief side. Simply let it show it's aims to go e and long it is song. In this case, it fool ya! . . .no worries, we are smarter.
Trailing stops is the way I do it. Like I said, it's a trade off. It's also valid if you opt to allow it to go all the way. There's no right or wrong. You can tell that both has it's pluses and minuses. On the long run, what works for me is your stop.
If you use a repair bracket, it may be more relaxed. But that may cost ya some profits on the way. You might manage your trail, providing a pause while your trade develops. I have been thinking that this really is a better choice. I do that on longer time frames and I am applying this in my own inventories.
FYI I only collected some coins today on the stocks. I must say I broke-even. So, markets were rather today across the board.
Hope it helps buddy!
Oh I am sorry I didn't answer to this one!!I spoted a simillar opportunity before, I took the first entery then exited to the first sign of weakness, just wanted to get your opinion on how I played with it. What did I do wrong/right or can enhance?
Thank you.
I don't think there's nothing to enhance. Just that the market is not delivering the merchandise.
I will take the first transaction, for certain. That is a breakout south as long as I get reduced highs, I am great.
Recall that all this relies on scalping. You can apply anything here so you don't get confused, I wish to be clear. I am going to post a few charts and I will enlarge what I do. Then you decide what's applicable and what's not.
Do you always start your brackets at specific levels of sr or would you randomly launch them if you open your DOM window and dont look at the general picture in their opinion?
Thanks to your help
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