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Plan the Trade

  • #7,661
  • Sep 20, 2018 8:40am Sep 20, 2018 8:40am
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Become the casino
  • #7,662
  • Sep 20, 2018 8:41am Sep 20, 2018 8:41am
yep, nice quick long from that pt
  • #7,663
  • Sep 20, 2018 8:52am Sep 20, 2018 8:52am
Recording today's seaaion
  • #7,664
  • Sep 20, 2018 9:18am Sep 20, 2018 9:18am
10:02 to now a tight range for nq in nyse session . . . .
  • #7,665
  • Sep 20, 2018 10:07am Sep 20, 2018 10:07am
i did a recording and when it was done i had no sounds freaking daughter disconnected prongs from computer lol
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  • #7,666
  • Sep 20, 2018 10:09am Sep 20, 2018 10:09am
Quoting erasmus66
{image}
you also had the 123 half of bar nice one ras
  • #7,667
  • Sep 20, 2018 11:17am Sep 20, 2018 11:17am
Nq - 30sec - 9/20 - Orderflow Supply & Demand Candles highlighted.

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  • #7,668
  • Sep 20, 2018 11:22am Sep 20, 2018 11:22am
Quoting Nik-Nyc
Nq - 30sec - 9/20 - Orderflow Supply & Demand Candles highlighted. {image}
If you notice the 2 winning trades I had you also had 1 demand bar for my long using half the bar and 1 demand candle where I took 123 break pullback
  • #7,669
  • Sep 20, 2018 11:25am Sep 20, 2018 11:25am
Quoting Divergence
{quote} If you notice the 2 winning trades I had you also had 1 demand bar for my long using half the bar and 1 demand candle where I took 123 break pullback
I did notice that
  • #7,670
  • Sep 20, 2018 11:40am Sep 20, 2018 11:40am
Hey Nik...I'm trying to figure out how to integrate the two studies on the charts....it's bending my brain! ;-) Anxious to see how you apply these two studies together.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #7,671
  • Sep 20, 2018 12:11pm Sep 20, 2018 12:11pm
Ended at 0 ... interesting session ... I tried a new trade management twist (new for me anyway, I have observed Mr D doing it sometimes but is the first time I am trying it). It makes it easier for me to just leave the trade open based on an observation that 90% of the time the price tends to bounce to a greater or lesser degree at a good S/D level, then after the bounce either go for profit or take out the SL. So after the bounce I move the SL to just behind it thus making the risk of the trade less. The only way the full SL can be taken out is if there is no bounce whatsoever at the S/D level, which rarely happen. It does have its drawbacks now and then but mostly works well and looks good in my backtests also. The main benefit is the mental impact of the lower risk. Will see how it goes in live mode with real emotions :-)
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Never give up !!!
  • #7,672
  • Sep 20, 2018 1:31pm Sep 20, 2018 1:31pm
Quoting capstone
Hey Nik...I'm trying to figure out how to integrate the two studies on the charts....it's bending my brain! ;-) Anxious to see how you apply these two studies together.
The study collection for the Orderflow Supply and Demand bars is attached below.

In order the use it:
1. Download
2. Unzip
3. Move the unzipped file into you data folder
4. Open a new 30 sec NQ chart (preferably in a separate chartbook)
5. Click the ANALYSIS menu in sierra chart and choose the file "Pullback OFA SD"

Please note:
1. Depending on your default candle colors you may have to adjust the alert colors within the study to something with better contrast
2. The Time Range Highlight Study will highlight 930am-12:00pm EST, double check you sierra default time and adjust accordingly
3. Sierra service package 5 is required (i believe) . . . all brokers allow a free demo

All feedback and observations are welcome and appreciated. Enjoy.

Attached File(s)
File Type: zip Pullback OFA SDz.zip   < 1 KB | 456 downloads
  • #7,673
  • Sep 20, 2018 1:37pm Sep 20, 2018 1:37pm
Quoting Nik-Nyc
{quote} The study collection for the Orderflow Supply and Demand bars is attached below. In order the use it: 1. Download 2. Unzip 3. Move the unzipped file into you data folder 4. Open a new 30 sec NQ chart (preferably in a separate chartbook) 5. Click the ANALYSIS menu in sierra chart and choose the file "Pullback OFA SD" Please note: 1. Depending on your default candle colors you may have to adjust the alert colors within the study to something with better contrast 2. The Time Range Highlight Study will highlight 930am-12:00pm EST, double check...
Good lad!
So many in the Commercial section want to make me rich! :o
  • #7,674
  • Sep 20, 2018 1:55pm Sep 20, 2018 1:55pm
got it loaded, thanks, will be interesting to watch these candles that you have defined
  • #7,675
  • Sep 20, 2018 1:58pm Sep 20, 2018 1:58pm
I think amps package 5 is same as my package 3 the reason I say that I get free MP while you have to pay 25 a month to get it with amp via package 5 am I right?
  • #7,676
  • Sep 20, 2018 2:10pm Sep 20, 2018 2:10pm
What i love about trading, is the fact that there is no mechanical method that works and makes consistent returns. What there is, is discretion within a set of rules or ideas.

It's a case of building the picture;

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The pullback to prior Demand (blue rectangle), 123, trigger and pullback. What i'm finding with reasonable regularity, is by drawing a channel line off of points 1&3 and extend it... if a later pullback touches this line and also coincides with a prior S/D level on a smaller scale, you're good to go.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #7,677
  • Sep 20, 2018 2:11pm Sep 20, 2018 2:11pm
thx nik ! I'll check it out.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #7,678
  • Sep 20, 2018 2:17pm Sep 20, 2018 2:17pm
Quoting The Cableguy
What i love about trading, is the fact that there is no mechanical method that works and makes consistent returns. What there is, is discretion within a set of rules or ideas. It's a case of building the picture; {image} The pullback to prior Demand (blue rectangle), 123, trigger and pullback. What i'm finding with reasonable regularity, is by drawing a channel line off of points 1&3 and extend it... if a later pullback touches this line and also coincides with a prior S/D level on a smaller scale, you're good to go.
I think it is mechanical even using trendline as visual guide your still following trend pullback entries
  • #7,679
  • Sep 20, 2018 2:26pm Sep 20, 2018 2:26pm
Similar set of discretions;

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GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #7,680
  • Sep 20, 2018 2:34pm Sep 20, 2018 2:34pm
Quoting The Cableguy
Similar set of discretions; {image}
It's still a 123 break pullback no discretion there classic setup
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