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Plan the Trade

  • #4,801
  • Feb 16, 2018 9:44am Feb 16, 2018 9:44am
Quoting rudy5
on the path to destroying another account. I thought I was ready this time. but trading for me is still like pushing a heavy cart up hill.. grind it out for a few days then let the whole thing slide back down. I keep passing on the winners and taking the losers. -41
show me your chart and where you got in
  • #4,802
  • Feb 16, 2018 9:55am Feb 16, 2018 9:55am
Quoting Divergence
{quote} dave on your chart some of your entries where in wrong place in my opinion {image}
Thank you H. I agree with you. Lately I have been missing a few trades by just a tick or 2. And although I am trading the 2B's and 123's I am looking for something else to help the trade. It could be anything profile, an ema, pivots, fibs, longer term trend lines, etc. I don't use all of these things, but one could. So, I will pass on some of the set ups that you guys may take because they just don't fit my plan. Then I am placing my orders for entry more off the profile than the bars. And that many need a bit of tweaking to get the right spot. Ideally for me the perfect week of trading would be 5 trades. 1 per day taking 10 to 30+ ticks on each. But that is a bit unrealistic as there will be losers of course. I will continue to strive for the consistency that I am looking for. I do feel like I have made great strides since finding you and your method of trading, and I thank you for that.
  • #4,803
  • Feb 16, 2018 9:58am Feb 16, 2018 9:58am
150 tick
Attached Image (click to enlarge)
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  • #4,804
  • Feb 16, 2018 10:11am Feb 16, 2018 10:11am
rudy no need to mark them if your not going to take them. we all fall into the try to find the perfect setup and they really don't exist. what does exist is the high probability of the setup that's what trading is all about. dave using to many filters will filter you out of trades same princible high probability setups. the best thing is go back and look at the charts spot these setups see how many get you in profit build confidence in the setup. These days with the market as it is I am not even using tpo charts just trading the setups on a fast chart it gets me in at a better price and theres plenty of time to put orders on. As markets conditions change we must adapt like a marine
  • #4,805
  • Feb 16, 2018 11:05am Feb 16, 2018 11:05am
Quoting rudy5
on the path to destroying another account. I thought I was ready this time. but trading for me is still like pushing a heavy cart up hill.. grind it out for a few days then let the whole thing slide back down. I keep passing on the winners and taking the losers. -41
rudy - step back, take a deep breath and imagine that you are rudy's advisor (which of course you are), then answer these questions for him :

1. Should rudy switch to sim mode as from today ? Yes or no; no maybe allowed.
2. How many profitable weeks should rudy produce in sim before trading live again ? Not less than 2, better 4 imho.
3. What else does rudy need to address within himself ?

Check out Topstep Trader's funded program rules for passing their Combine : https://help.topsteptrader.com/hc/en...ading-Combine-

We should all be meeting these parameters before trading live : they sound easy, but they are VERY challenging (if one doesn't get you, another one will) ! But if you can stick to them, you WILL be a profitable trader. Having written the above, I'm adding the parameters to my weekly review within my Trading Plan.

Everyone does have a written Trading Plan, right (of course you do, silly question please excuse me...) ?
  • #4,806
  • Edited 11:55am Feb 16, 2018 11:24am | Edited 11:55am
as a trader we are always honing our skills doing research analyzing charts I have discovered a simple way to find some of these setups and also a thing that happens quite a bit I am doing a video and am uploading it give me a few and I will post
  • #4,807
  • Edited 12:37pm Feb 16, 2018 12:12pm | Edited 12:37pm
here it is crap voice was not plugged in
  • #4,808
  • Feb 16, 2018 12:36pm Feb 16, 2018 12:36pm
redoing it
  • #4,809
  • Feb 16, 2018 12:56pm Feb 16, 2018 12:56pm
here it is finally
Inserted Video
  • #4,810
  • Feb 16, 2018 1:06pm Feb 16, 2018 1:06pm
Quoting Divergence
here it is finally https://youtu.be/kW4MXxy1tFs
Great video and very instructive Harold. Thanks.
every Saint has a past. Every Sinner has a Future
  • #4,811
  • Feb 16, 2018 3:04pm Feb 16, 2018 3:04pm
"pin bar followed by thrust bar" .. great setup
Become the casino
  • #4,812
  • Feb 16, 2018 3:47pm Feb 16, 2018 3:47pm
Quoting erasmus66
"pin bar followed by thrust bar" .. great setup
Yes it is
  • #4,813
  • Feb 16, 2018 4:37pm Feb 16, 2018 4:37pm
I'm a huge Wyckoff fan and I like the idea that some of his teaching's are still being used today.
  • #4,814
  • Feb 16, 2018 4:40pm Feb 16, 2018 4:40pm
Did not trade today because of work but here are some of the setups I used,mine are all based on hh,hl , lh and ll.
Attached Image (click to enlarge)
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  • #4,815
  • Feb 16, 2018 4:40pm Feb 16, 2018 4:40pm
Quoting slugar
I'm a huge Wyckoff fan and I like the idea that some of his teaching's are still being used today.
What is his method
  • #4,816
  • Feb 16, 2018 4:58pm Feb 16, 2018 4:58pm
Quoting Divergence
{quote} What is his method
He based all of his trades on test and retest of levels! He used trendlines and channels pretty standard price action, lower highs and higher lows tell a lot about what the big money is thinking, also used volume but not in the traditional way but if you get a volume spike in a down move and it reverses in the next couple of bars then someone that can move the market might be switching positions
  • #4,817
  • Feb 16, 2018 5:10pm Feb 16, 2018 5:10pm
Well in a way that's what I am doing
  • #4,818
  • Feb 16, 2018 5:17pm Feb 16, 2018 5:17pm
Quoting Divergence
Well in a way that's what I am doing
I agree and that's why I enjoy this thread! My biggest obstacle is time, my job requires around 55 hours per week and that's part of the reason I can only post and trade certain days of the week but it's a very good paying job so I'm just learning as I go and hopefully one day trade for a living
  • #4,819
  • Feb 16, 2018 5:26pm Feb 16, 2018 5:26pm
Well for me it's first hr 4 days a week so if you can work your schedule to trade then you will be trading for a living quicker than you think
  • #4,820
  • Feb 16, 2018 5:38pm Feb 16, 2018 5:38pm
Quoting Divergence
Well for me it's first hr 4 days a week so if you can work your schedule to trade then you will be trading for a living quicker than you think
I actually have a lot of freedom at my job so when I feel I'm ready I can trade some at work and Wednesdays when I'm off
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