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Plan the Trade

  • #1,201
  • Jul 21, 2017 3:18pm Jul 21, 2017 3:18pm
Quoting erasmus66
thanks for this harold .. will go through this weekend
Thanks Ras - I think you & H are on same playing field. Great looking results mate.

Harold - neat observations. Homework required here too over next few days.
  • #1,202
  • Jul 22, 2017 6:41am Jul 22, 2017 6:41am
Quoting binnie
{quote} Thanks Ras - I think you & H are on same playing field. Great looking results mate. Harold - neat observations. Homework required here too over next few days.
what time is us open for you down under binnie?
Become the casino
  • #1,203
  • Jul 22, 2017 6:29pm Jul 22, 2017 6:29pm
Quoting erasmus66
{quote} what time is us open for you down under binnie?
Hi Ras - out all day yesterday so missed your question. US Open is 1.30am here. I work during the day so just not up to being awake that early in the morning. I have been looking for other futures that give tradeable volumes and I have been using the 6J and applying H's pullback method - if the TPO & Volume Profile can help to filter my bad ones - then I would really like to try it out. I have just received a link for a free trial of a Ninjatrader 7 software but a little confused which package I really need. One is TPO and Volume Profile Chart - Range Select and the other is TPO and Volume Profile Chart . Still reading through to see which one does what. I am in my 60's so learning new things IT is damn hard LOL
You are doing really well - would be interested if you could set up the 6J on your Sierra and post the levels for all of last week . I can mark your levels on my Ninja Chart and seer what I am looking for. Cheers buddy.
Keep posting - I look forward to seeing what you and H are doing.
  • #1,204
  • Jul 23, 2017 4:04am Jul 23, 2017 4:04am
Quoting binnie
{quote} Hi Ras - out all day yesterday so missed your question. US Open is 1.30am here. I work during the day so just not up to being awake that early in the morning. I have been looking for other futures that give tradeable volumes and I have been using the 6J and applying H's pullback method - if the TPO & Volume Profile can help to filter my bad ones - then I would really like to try it out. I have just received a link for a free trial of a Ninjatrader 7 software but a little confused which package I really need. One is TPO and Volume Profile...
I have also been following along and enjoying learning from all. I have been building account in forex with UJ but after checking i now see i can do the same thing with 6J futures. Later i could add NQ, as i have been demo'ing with it.
Thanks for posting guys. -Jason
  • #1,205
  • Jul 23, 2017 3:04pm Jul 23, 2017 3:04pm
Quoting binnie
{quote} Hi Ras - out all day yesterday so missed your question. US Open is 1.30am here. I work during the day so just not up to being awake that early in the morning. I have been looking for other futures that give tradeable volumes and I have been using the 6J and applying H's pullback method - if the TPO & Volume Profile can help to filter my bad ones - then I would really like to try it out. I have just received a link for a free trial of a Ninjatrader 7 software but a little confused which package I really need. One is TPO and Volume Profile...
what instrument is 6j?
Become the casino
  • #1,206
  • Jul 23, 2017 3:24pm Jul 23, 2017 3:24pm
Quoting erasmus66
{quote} what instrument is 6j?
It is the Yen Future (emini )
  • #1,207
  • Jul 24, 2017 4:51am Jul 24, 2017 4:51am
Quoting Divergence
been doing some reading and found an interesting fact. when price goes in 1 direction in overnight session when market opens a large amount of the times price will go the other way kinda giving up a bias like everything else its not 100% of the time but when it works you can score a nice payday. so I looked back on chart and saw this thing over and over again. there are days when it goes up and down in overnight that is a not bias day creating a balanced overnight session. I also am using 1000 tick volume bars and moving stop to logical place usually...
Thanks H. That fact is worth some research. And good to see you about.
every Saint has a past. Every Sinner has a Future
  • #1,208
  • Jul 24, 2017 9:00am Jul 24, 2017 9:00am
I've been experimenting (as opposed to 'tweaking'!) for the past week or so, mainly regarding times to trade and adjusting stoploss requirements and also trying to adopt an approach regarding targets to match the PA at the time.

I will post some charts again once i have something worth sharing...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #1,209
  • Jul 24, 2017 9:09am Jul 24, 2017 9:09am
all I got so far is a long from 2150 for +20
  • #1,210
  • Jul 24, 2017 9:09am Jul 24, 2017 9:09am
Quoting turnip15
{quote} Thanks H. That fact is worth some research. And good to see you about.
This is basic gap fill. I know of at least a couple of traders who base their complete trading strategy on this. Asian trading overnight (or even European time) with thin volume, moves the price a fair way away from normal market hours close... it acts as a magnet when the US market opens again, to 'close' the gap...

I always put a 'gap close' line on my chart if it looks obvious and volumes are thin. I think i posted a couple of weeks ago, that i had noted how frequently, 'gap close' is also the VPOC of prior day.

*Edit* here it is;

https://www.forexfactory.com/showthr...2#post10038972
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #1,211
  • Jul 24, 2017 9:18am Jul 24, 2017 9:18am
long again 2150 stop to be
  • #1,212
  • Jul 24, 2017 9:18am Jul 24, 2017 9:18am
locking in 8
  • #1,213
  • Jul 24, 2017 9:19am Jul 24, 2017 9:19am
Quoting Divergence
all I got so far is a long from 2150 for +20
nothing for me so far .. very slow
Become the casino
  • #1,214
  • Jul 24, 2017 9:19am Jul 24, 2017 9:19am
+8
  • #1,215
  • Jul 24, 2017 9:20am Jul 24, 2017 9:20am
it is very slow that's why I took in to get some
  • #1,216
  • Jul 24, 2017 9:22am Jul 24, 2017 9:22am
Quoting Divergence
long again 2150 stop to be

I just switched volumes to 1000 to have a look and that is exactly where i would have looked to go long as a pullback. I've switched back to 233 ticks recently, but mainly because i've been trading the slower volumes later on. It certainly looks different between such varying ticks...

I admit, today it is a lot slower currently. I will be interested to see if it virtually comes to a standstill during lunch hour!
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #1,217
  • Jul 24, 2017 9:22am Jul 24, 2017 9:22am
could be slow tomorrow also fomc on wednesdsy
  • #1,218
  • Jul 24, 2017 9:24am Jul 24, 2017 9:24am
Quoting The Cableguy
{quote} I just switched volumes to 1000 to have a look and that is exactly where i would have looked to go long as a pullback. I've switched back to 233 ticks recently, but mainly because i've been trading the slower volumes later on. I admit, today it is a lot slower currently. I will be interested to see if it virtually comes to a standstill during lunch hour!
I also use 1000 volume bars and have a 500 but mainly using 1000 is slows it down and gives a better picture
  • #1,219
  • Jul 24, 2017 9:32am Jul 24, 2017 9:32am
On 233 earlier there was a leg down to the V high line @21:25, but here's the thing, it didn't line up with a pullback area, so i left it, shame because it bounced a clean 16+ ticks off of it, so a +10 should have been a minimum... but there lies my current problem, i think i am losing a little confidence in taking reactions off of these lines and when it is slow, there is not usually a big enough move to trade a 123 anymore etc, hence my concentrating on PA later.

I'm looking for deep pullbacks and choppy PA and i seem to be finding it aplenty during lunch.

I traded it on Thursday and only ended up a handful of ticks after the hour, but that doesn't tell the whole story...

I missed entry twice by a tick or two, by being a bit too tight with my entry (i usually go off of candle body on the pin bar of prior move). Then on a 3rd trade, it pushed on past my entry by a few ticks and despite initially going in my favour PA got bought back up (i was short) quite quickly... i closed myself out manually for BE, only to almost instantly see it become a nice winner.

I actually replayed the hour on demo and placed the entries in the right places and ran the last trade (OK, so with the benefit of hindsight), which resulted in +44, but my stoploss is now automatic at 7 risk. The point of the replay, was just to have the experience. In truth i expect somwhere between my real time trades and the replay is easily achievable, so maybe +20/25 odd during lunch with a max risk of 7. I have also gone back to putting stoploss a tick above/below last pullback, thus it is often only 5 tick risk.

It just suits me at the moment, but as i say, i'm experimenting!
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #1,220
  • Jul 24, 2017 9:36am Jul 24, 2017 9:36am
the risk to reward is always an on going dilemma I have moved my stop to 20 for now on the 1000 volume bar and start moving it uo candle by candle it hasn't effected my performance for now
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