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Plan the Trade

  • #11,801
  • Apr 9, 2019 1:57am Apr 9, 2019 1:57am
Quoting Divergence
look at these 2 charts 1 is 1 minute other 512 tick look at 2130 no 123 on 512 tick 1 minute shows 123 {image} {image}
l think we shouldnt compare between 512 tick and 1min chart you mentioned above coz 1 min chart is faster than 512 tick based chart
  • #11,802
  • Apr 9, 2019 7:29am Apr 9, 2019 7:29am
Quoting bapakjason
{quote} You mean demo the ES 5min?
Yes, sticking with the 5 minute ES, but I want to see if I can't come up with a set of mechanical rules that allow me not to trade against my intuition. Look, I get that losses will happen. I have no problem with that at all. My frustration is that the method as I have tried to set it out at times has me taking trades I feel price action does not justify like the second trade yesterday. It also has me stand aside on what I think are clear signs to take a position such as what should have been the first trade Friday. I am going to take a few days to trade in demo to see if anything comes to me as to how I Might a tighten the rules up a bit to more accurately reflect price action.

Still trading NQ live of course (a man's got to eat!).
  • #11,803
  • Apr 9, 2019 8:02am Apr 9, 2019 8:02am
My thoughts on rethinking the rule set of the stoch method on the blog ...

https://ddaytrader.com/2019/04/09/no...erfection-but/
  • #11,804
  • Apr 9, 2019 8:03am Apr 9, 2019 8:03am
Quoting ddaytrader
{quote} Yes, sticking with the 5 minute ES, but I want to see if I can't come up with a set of mechanical rules that allow me not to trade against my intuition. Look, I get that losses will happen. I have no problem with that at all. My frustration is that the method as I have tried to set it out at times has me taking trades I feel price action does not justify like the second trade yesterday. It also has me stand aside on what I think are clear signs to take a position such as what should have been the first trade Friday. I am going to take a...
That all makes perfect sense. Will look forward to it.
  • #11,805
  • Apr 9, 2019 8:51am Apr 9, 2019 8:51am
What caused the Dow to fall out of bed so !!?
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every Saint has a past. Every Sinner has a Future
  • #11,806
  • Edited 9:22am Apr 9, 2019 9:03am | Edited 9:22am
so far nq -12 +10 ym 123 win
  • #11,807
  • Apr 9, 2019 9:06am Apr 9, 2019 9:06am
another 123 win on ym
  • #11,808
  • Apr 9, 2019 9:13am Apr 9, 2019 9:13am
nq 2b pullback +25
  • #11,809
  • Apr 9, 2019 9:14am Apr 9, 2019 9:14am
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Become the casino
  • #11,810
  • Apr 9, 2019 9:32am Apr 9, 2019 9:32am
Traded on sim today due to AC out. Too much distraction I thought, but turned out ok anyway.
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  • #11,811
  • Apr 9, 2019 9:52am Apr 9, 2019 9:52am
A bit more action today.

3 trades for this session (SIM):

T1: long on what I think is a 123s. On the fill the price reacted pretty quickly, and after a minute reached the TP.
Like yesterday, dream trade after the fill. I imagine we all like that kind of price reaction!!.

T2: short on what I think was a pretty nice 123s. For that one, price didn’t play ball, and on the fill went straight to my SL taking out point 3.

T3: short on a 123s. Price reacted reasonably well at the fill, but then stalled quite a bit, and took me out at BE.

Not a perfect day, but not a bad day either.
If I could finish positive every day like today, I would sign straight away, as at the end it is the goal.

Have a good day every one.
Cheers,
J-F
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  • #11,812
  • Apr 9, 2019 9:54am Apr 9, 2019 9:54am
so first session on nq with 20 second charts started off with a loss but what followed next is what counts
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  • #11,813
  • Apr 9, 2019 9:58am Apr 9, 2019 9:58am
Quoting J-f
A bit more action today. 3 trades for this session (SIM): T1: long on what I think is a 123s. On the fill the price reacted pretty quickly, and after a minute reached the TP. Like yesterday, dream trade after the fill. I imagine we all like that kind of price reaction!!. T2: short on what I think was a pretty nice 123s. For that one, price didn’t play ball, and on the fill went straight to my SL taking out point 3. T3: short on a 123s. Price reacted reasonably well at the fill, but then stalled quite a bit, and took me out at BE. Not a perfect day,...
jf your still not grasping the 123 pattern here is the sequence HHHL not a higher high then price takes out HL or LLLH but not a lower low then price takes out LH your second trade was a 2b break and entry would be the 2b bar
  • #11,814
  • Apr 9, 2019 10:00am Apr 9, 2019 10:00am
Quoting erasmus66
{image}
the ym 123 nice
  • #11,815
  • Apr 9, 2019 10:46am Apr 9, 2019 10:46am
Quoting Divergence
look at these 2 charts 1 is 1 minute other 512 tick look at 2130 no 123 on 512 tick 1 minute shows 123 {image} {image}

Funny thing is, a lot of people prefer tick/volume charts over time-based charts because it “smooths” out of the price action. As seen in your example though, you would have missed that 123.
  • #11,816
  • Apr 9, 2019 11:00am Apr 9, 2019 11:00am
Quoting jack411
{quote} Funny thing is, a lot of people prefer tick/volume charts over time-based charts because it “smooths” out of the price action. As seen in your example though, you would have missed that 123.
yes jack it would have but the point i was making is the time chart showed the 123 and tick chart didnt
  • #11,817
  • Apr 9, 2019 11:07am Apr 9, 2019 11:07am
the 512 tick chart and 20 second chart are pretty close to being the same 20 second chart gives maybe 2 tick better entry but there close very interesting though
  • #11,818
  • Apr 9, 2019 11:13am Apr 9, 2019 11:13am
heres the 2 charts
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  • #11,819
  • Apr 9, 2019 12:51pm Apr 9, 2019 12:51pm
Quoting emmanuel7788
P{quote} BTW, I am also learning and practising your 123 and 2b setups. Those Joe Ross stuff really good. My goal 2020 is on radar ... it is back to the futures.
Hi, Emma, since you said you were into this '2b,123' stuff, can I ask if you were doing this in the forex market or the futures market? What is your rules for entry ,SL, tp? Do you use pending limit orders or any price action confirmation, etc?
  • #11,820
  • Apr 9, 2019 1:00pm Apr 9, 2019 1:00pm
Quoting zhangshuo
{quote} Hi, Emma, since you said you were into this '2b,123' stuff, can I ask if you were doing this in the forex market or the futures market? What is your rules for entry ,SL, tp? Do you use pending limit orders or any price action confirmation, etc?
i think you posted on wrong thread emma is on trading made simple
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