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Plan the Trade / Trade the plan 74 replies

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Plan the Trade

Quoting onejester
+ 24 4 x trades. Not much fun today.
Just looking at the chart now. which trades did you get?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
Quoting Rmg
pinbar hourly close below 7000.
It did push on down some during the next 15min . . . .
Quoting capstone
{quote} Just looking at the chart now. which trades did you get?
Not by the rules buddy, which is why I didn't post... But here you go anyway:

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'in less than half an hour he made over 100 ticks'
Lots of volume but little movement. Interesting. Based on the 1 hour chart, we are at a balance point of around 20 points today. I wonder what today will bring and if it will break this balance. Good luck everyone!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
interesting day i recorded todays session give me a few minutes to upload
got 18 so far:

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Become the casino
Quoting Divergence
interesting day i recorded todays session give me a few minutes to upload
if you livestream, people can actually see you live and interact in the chat. it's actually very helpful, at least for me to see what people are seeing. in your case, it would help us to see what you see in the moment. Plus it uploads automatically later. just suggestion.
Working towards CME membership
Quoting capstone
Lots of volume but little movement. Interesting. Based on the 1 hour chart, we are at a balance point of around 20 points today. I wonder what today will bring and if it will break this balance. Good luck everyone!
NYSE open for an hour still looking like plenty of ticks available. : )
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Inserted Video
Quoting hilmy83
{quote} if you livestream, people can actually see you live and interact in the chat. it's actually very helpful, at least for me to see what people are seeing. in your case, it would help us to see what you see in the moment. Plus it uploads automatically later. just suggestion.
Good suggestion. I would personally love the have the live interaction to get in Harold's head and see what he sees :-
Staying in my lane...
I wouldn't interact while doing business
Ended at +2 ... I had a meeting and started late ... waited fo good signals and missed a few and caught 2 with a BE and +1.

I have decided to give myself a bit of help with regard to the context aka longer time trend and put a 30 second 21sma and a 5 minute 21sma on the chart.
I am exploring Angus's suggestion of trading hooks but very very selectively and only later in the session, the first hour is too jumpy ... are still checking it out ... I only want a breakout with lots of volume so wait for the beginning of a strong trend and a nice pullback and the bounce ... a limit order is still my first choice to enter but if it is missed then I may take the bounce with a stop order AFTER a candle that shows momentum in the direction of the trend. I keep the trade settings the same because I only want to be in if there is momentum. I had one bounce trade that was taken out at +1.
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Never give up !!!
Quoting Divergence
https://youtu.be/TvEj8ed1Ypc
Nice to watch you in action today. I still think your edge is NOT in the 123/2B setup. It stems from your immense control not to overtrade, patience to let price come to you, ability to gauge volatility/volume/price action and your strict discipline to ensure candle size is not too big to accommodate tight stops to allow math to work for you towards your daily income philosophy. There is also a element of luck via hit and run with whatever you can get from the market (which I strongly believe, is an important ingredient in any strategy). You are quite the inspiration for us to succeed :-)

I am convinced just one market, one setup, one hour to generate income is more than sufficient as evident in your performance. Quite the enlightenment so thanks for sharing.
Staying in my lane...
Nicely put DA MATH
holy shit!

got out just in time from the last long. had a rule to always close before 3:10. this just solidify that rule

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Working towards CME membership
Quoting hilmy83
holy shit! got out just in time from the last long. had a rule to always close before 3:10. this just solidify that rule {image}

More earnings reports. Apple, etc.
Quoting hilmy83
holy shit! got out just in time from the last long. had a rule to always close before 3:10. this just solidify that rule {image}
Trading daily close is like playing with fire dude... with margin increase, exchange shutdown etc the risk is just too much even if you have significant capital. it freaks me out even in demo :-

Edit: I think I have taken a long enough pause from trading live.... and now I am noticing "fear of missing out" kicking in watching her moves. Research needs to come to an end and get back into trading live next week.
Staying in my lane...
Quoting magnumfreak
{quote} More earnings reports. Apple, etc.
Dude... 300 tick drop lol
Staying in my lane...
The last 4 days has seen a steady decrease in daily volume. The 10 day ATR has also made a turn to the downside. It is possible that it could pick back up but I kind of doubt it. The other two corrections we saw this year did the same although not as robust of moves and the trailing off of the daily volume signaled the end of the big volatility.

What does this mean? Most likely we are returning to a more normal pattern. The two legs down we experienced in October have completed nearly to the tick. Earnings season is drawing to an end. "normal" volume is around 400k so we are still above that but I don't think we will be for long. We were at 583k today. The last 3 days have been under the 10 day moving average for volume which currently sits at 805k.

I could be wrong. Just some observations and thoughts.

Trade with caution as the ride can get bumpy as she settles in for the winter.
Quoting magnumfreak
The last 4 days has seen a steady decrease in daily volume. The 10 day ATR has also made a turn to the downside. It is possible that it could pick back up but I kind of doubt it. The other two corrections we saw this year did the same although not as robust of moves and the trailing off of the daily volume signaled the end of the big volatility. What does this mean? Most likely we are returning to a more normal pattern. The two legs down we experienced in October have completed nearly to the tick. Earnings season is drawing to an end. "normal" volume...
Nice Analysis Magnum. I am used to trading strength/weakness via scheduled events which is making me curious what else makes her move 300+ ticks. Do we know of anyone trading these earnings related spikes? Are such straight up or down spikes in one direction normal ? Unlike in spot FX (where we have more up and down cleanup events), such unidirectional spikes could be a printing machine with tight stops :-
Staying in my lane...
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