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Plan the Trade

  • #11,401
  • Mar 20, 2019 9:16am Mar 20, 2019 9:16am
not everyone is trading price as levels I trade patterns in hope there buyers/sellers there agree with me. so whether I sell 7257.25 or and other number is irrelevant to me
  • #11,402
  • Edited 9:38am Mar 20, 2019 9:27am | Edited 9:38am
There has to be some early indication during the first 90 seconds that could be used to plan for rangebound trading. The volume (500K in an hour so far) is just not there. My hour is getting done here and making a measly 34 ticks is just pathetic :-(

Edit: Done with this lousy but favorable day. had to drop to 5 seconds to keep up with my impatience lol
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Staying in my lane...
  • #11,403
  • Mar 20, 2019 9:55am Mar 20, 2019 9:55am
I have not made a trade today. Had a few sets ups on the 512 tick chart but fast market slow trader so no-no for me.

The five minute chart shows a bull-bias range, which is often a bear flag. I'm glad to keep out until something more clear develops.

Here is what the five minute chart looks like almost 90 minutes into the day:

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Lots of tails, lots of overlapping price action ... yes, scalp longs at the lows and scalp shorts at the highs ... much easier said than done when the NQ moves as fast at the extremes as it has today, imo.
  • #11,404
  • Mar 20, 2019 10:01am Mar 20, 2019 10:01am
Quoting ddaytrader
I have not made a trade today. Had a few sets ups on the 512 tick chart but fast market slow trader so no-no for me. The five minute chart shows a bull-bias range, which is often a bear flag. I'm glad to keep out until something more clear develops. Here is what the five minute chart looks like almost 90 minutes into the day: {image} Lots of tails, lots of overlapping price action ... yes, scalp longs at the lows and scalp shorts at the highs ... much easier said than done when the NQ moves as fast at the extremes as it has today, imo.
Days like this I feel like dropping a 10contract at 5T TP and be done for the day lol

EDIT: +64T
Staying in my lane...
  • #11,405
  • Mar 20, 2019 10:02am Mar 20, 2019 10:02am
Quoting ddaytrader
I have not made a trade today. Had a few sets ups on the 512 tick chart but fast market slow trader so no-no for me. The five minute chart shows a bull-bias range, which is often a bear flag. I'm glad to keep out until something more clear develops. Here is what the five minute chart looks like almost 90 minutes into the day: {image} Lots of tails, lots of overlapping price action ... yes, scalp longs at the lows and scalp shorts at the highs ... much easier said than done when the NQ moves as fast at the extremes as it has today, imo.
I was taking a look at 5min with your 21ema, but was focused more on 512 tick. NQ moves enough for set ups each session in the 1st hour for certain . . . .
  • #11,406
  • Mar 20, 2019 10:05am Mar 20, 2019 10:05am
Quoting VEEFX
{quote} Days like this I feel like dropping a 10contract at 5T TP and be done for the day lol EDIT: +64T
Tempting. Lol
  • #11,407
  • Mar 20, 2019 10:07am Mar 20, 2019 10:07am
Quoting bapakjason
{quote} I was taking a look at 5min with your 21ema, but was focused more on 512 tick. NQ moves enough for set ups each session in the 1st hour for certain . . . .
Here's an idea I was playing around last night. Could not code easily though but visually, it looks okay
EMA(1, HLAvg) so midpoint of each candle (median)
Use ZZ indicator which publishes the HH/HL/LL/LH to indicate trend
Use the midpoint of each ZZ leg as another layer of median

Edit: Stop Loss = high/lows or ema(xx)

Scalp the F away for 5-10 ticks at crossover from one side to another and be done for the day in few trades.
Staying in my lane...
  • #11,408
  • Mar 20, 2019 10:35am Mar 20, 2019 10:35am
Quoting bapakjason
{quote} I was taking a look at 5min with your 21ema, but was focused more on 512 tick. NQ moves enough for set ups each session in the 1st hour for certain . . . .
You almost have to pick one or the other and not watch both ... unless there is a clear one way trend day going on - then that a 512 tick is gold - you do not cover the shorts - you sell another lot every time it pulls back. I had the 512 up expecting a range day today and thinking I'd do some scalping, but it was just too fast for me today ... I use stop entry orders and today I should have switched to market order mode.

Quoting VEEFX
{quote} Days like this I feel like dropping a 10contract at 5T TP and be done for the day lol EDIT: +64T
That would imply that you know what is going to happen next. The next thing you know the NQ moves 20 points against you in less than 5 to 10 minutes (happens frequently) minutes and you're down $4000 on a trade you were hoping to make $250 on.
  • #11,409
  • Mar 20, 2019 10:49am Mar 20, 2019 10:49am
pardon me my friends

but im very confused now

i discoverd forex a month ago
so ive been reading trade made simple thread
few time ago im informed eelfranz is now rip
so i went to the last pages of dat thread
n i seed a member divergence talked forex was not good futures is better
so i have just one month learning here n u tell me forex is scam

is this future thing worth or is it scam too n stock will better next n then nothing good is?
banging alphadudes wife
  • #11,410
  • Mar 20, 2019 10:53am Mar 20, 2019 10:53am
Quoting Cantinflas
pardon me my friends but im very confused now i discoverd forex a month ago so ive been reading trade made simple thread few time ago im informed eelfranz is now rip so i went to the last pages of dat thread n i seed a member divergence talked forex was not good futures is better so i have just one month learning here n u tell me forex is scam is this future thing worth or is it scam too n stock will better next n then nothing good is?
I just love your tagline

You will learn more here if you begin at the beginning of this thread. Google 'market structure' set up a demo account and experiment. It is the only way.
'in less than half an hour he made over 100 ticks'
  • #11,411
  • Mar 20, 2019 10:56am Mar 20, 2019 10:56am
Price only moves because of executed transactions on the bid/ask.

Therefore, price is a consequence of what happens on the book.

Can price alone entice a buyer/seller? Sure, but that transaction will have to occur on the book.

Everyone is entitled to trade as they see fit, and indeed Harold has demonstrated simplicity can be very powerful, however if you really want to fully understand price movement then you will need to learn how to read orderflow. Anything price related (bars, swings, patterns, etc) are all a consequence of orderflow. Is it required, no, but it is the baseline data that dictates everything else, especially Price.

Regarding time, imho, it's not a variable, only a metric.
  • #11,412
  • Mar 20, 2019 11:18am Mar 20, 2019 11:18am
while waiting on trades..you browse youtube. sometimes they recommend weird things..but this..god ddaaaamnnn

Inserted Video
  • #11,413
  • Mar 20, 2019 11:37am Mar 20, 2019 11:37am
Quoting ddaytrader
{quote} You almost have to pick one or the other and not watch both ... unless there is a clear one way trend day going on - then that a 512 tick is gold - you do not cover the shorts - you sell another lot every time it pulls back. I had the 512 up expecting a range day today and thinking I'd do some scalping, but it was just too fast for me today ... I use stop entry orders and today I should have switched to market order mode. {quote} That would imply that you know what is going to happen next. The next thing you know the NQ moves 20 points against...
Such moves can happen anywhere and anytime but I hear you. no one knows what will happen next regardless of which level price is. All I know is... I am better at anticipating algorithmic-induced moves than reading the order book.... like these
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Staying in my lane...
  • #11,414
  • Mar 20, 2019 11:37am Mar 20, 2019 11:37am
now it's moving...hell yea..time to rob the bastards
  • #11,415
  • Mar 20, 2019 11:44am Mar 20, 2019 11:44am
Quoting hilmy83
now it's moving...hell yea..time to rob the bastards
It's just a normal enticement during lunch times. perfect for reversion plays imo

Plus - fed meeting at 11 pacific so I am staying on the sidelines until that happens.
Staying in my lane...
  • #11,416
  • Mar 20, 2019 11:47am Mar 20, 2019 11:47am
Quoting hilmy83
while waiting on trades..you browse youtube. sometimes they recommend weird things..but this..god ddaaaamnnn https://www.youtube.com/watch?v=cVaIPF7xnQg
Hilmy, its been a while. When do you want another ass whooping on fifa?
  • #11,417
  • Mar 20, 2019 11:52am Mar 20, 2019 11:52am
Quoting Gmatrader
{quote} Hilmy, its been a while. When do you want another ass whooping on fifa?
i don't remember being beaten

you want some? wait till i'm done trading..and i show you what's up. when's your bedtime?
  • #11,418
  • Mar 20, 2019 12:08pm Mar 20, 2019 12:08pm
Quoting hilmy83
while waiting on trades..you browse youtube. sometimes they recommend weird things..but this..god ddaaaamnnn https://www.youtube.com/watch?v=cVaIPF7xnQg
I think its safe to say that was a nice peace of ass...lol...And they call me a PIG.."Why?"
Insanityoing same ting over expecting different results..Einstein
  • #11,420
  • Mar 20, 2019 12:25pm Mar 20, 2019 12:25pm
Quoting Nik-Nyc
Price only moves because of executed transactions on the bid/ask. Therefore, price is a consequence of what happens on the book. Can price alone entice a buyer/seller? Sure, but that transaction will have to occur on the book. Everyone is entitled to trade as they see fit, and indeed Harold has demonstrated simplicity can be very powerful, however if you really want to fully understand price movement then you will need to learn how to read orderflow. Anything price related (bars, swings, patterns, etc) are all a consequence of orderflow. Is it required,...
I'm a dinosaur compared to you guys - a plodder.
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every Saint has a past. Every Sinner has a Future
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