Small disciplines repeated with consistency lead to great achievements.
- #102
- Aug 13, 2019 11:06am Aug 13, 2019 11:06am
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
- #103
- Aug 13, 2019 11:10am Aug 13, 2019 11:10am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
{quote} Nice job. Always glad to see your posts.
Thank you, and as always, I enjoy your informative posts. I hope you noticed my version of a WRB indicator
Trading Levels with WRBs
- #104
- Aug 14, 2019 11:02am Aug 14, 2019 11:02am
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Slow day for me, not great with these narrow channel trends. Took my setups and earned a little money, but unfortunately both setups happened to be counter trend, so not a lot of money. But traded the plan and will live to fight another day.
Also trading some micro-scalping w/ small size on a new strategy on the MNQ. 37 trades for +231 ticks (57.75 points). 33 wins / 4 losses. 89% win rate but very low reward/risk.
Also trading some micro-scalping w/ small size on a new strategy on the MNQ. 37 trades for +231 ticks (57.75 points). 33 wins / 4 losses. 89% win rate but very low reward/risk.
Small disciplines repeated with consistency lead to great achievements.
- #105
- Aug 14, 2019 12:08pm Aug 14, 2019 12:08pm
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
"Being right and sitting tight. That's where the money is." Jesse Livermore
Journal entry:
Two[SIM] trades: 1 win 1 loss.
Felt good this morning. Made a conscious effort to block out all the "noise". I never want to let the opinions of others get in the way of my trading. Although not all intervals are created equal, each interval does have it own Supply/Demand story.
Trade One:
Entered Short on a Two Bar Reversal (2BR). See Trade Two with the chart for analysis. As soon as I entered, my bracketed stop loss was hit. -75.00.
Trade Two: +138.75. (NET: +63.75)
The first thing you did right was to re-enter the trade because nothing had changed. Stops should be placed at a point that tells you you're wrong, the bracket stop is just a stop so that there is always a stop in the market when you're in it.
After the first WRB pt, the Market did not produce any Dark (Open>Close) WRBs to use as partial pts for some length of time. I do not like time-based exits, because they're like telling the Market what you want and by when you want it. I want to surrender to the Market. In order to do that, one must first become comfortable being in the Market. Being right, and sitting tight. That's where the money is.
Price has moved DOWN even farther than shown...
Journal entry:
Two[SIM] trades: 1 win 1 loss.
Felt good this morning. Made a conscious effort to block out all the "noise". I never want to let the opinions of others get in the way of my trading. Although not all intervals are created equal, each interval does have it own Supply/Demand story.
Trade One:
Entered Short on a Two Bar Reversal (2BR). See Trade Two with the chart for analysis. As soon as I entered, my bracketed stop loss was hit. -75.00.
Trade Two: +138.75. (NET: +63.75)
The first thing you did right was to re-enter the trade because nothing had changed. Stops should be placed at a point that tells you you're wrong, the bracket stop is just a stop so that there is always a stop in the market when you're in it.
After the first WRB pt, the Market did not produce any Dark (Open>Close) WRBs to use as partial pts for some length of time. I do not like time-based exits, because they're like telling the Market what you want and by when you want it. I want to surrender to the Market. In order to do that, one must first become comfortable being in the Market. Being right, and sitting tight. That's where the money is.
Price has moved DOWN even farther than shown...
Without VSA, you're playing checkers while the Smart Money plays chess.
- #106
- Aug 14, 2019 2:27pm Aug 14, 2019 2:27pm
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
Late day trade.
Total: 2 wins 1 loss.
Trade Three:
Total: 2 wins 1 loss.
Trade Three:
Without VSA, you're playing checkers while the Smart Money plays chess.
- #107
- Aug 14, 2019 3:09pm Aug 14, 2019 3:09pm
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
US500 - Nice rejection off H1 supply 2940, closing in on H4 demand at 2813. H1 slightly lower.
Weekly starting to look bearish.
Oops, CFD not exactly futures.
Weekly starting to look bearish.
Oops, CFD not exactly futures.
- #108
- Aug 14, 2019 3:26pm Aug 14, 2019 3:26pm
- Joined Oct 2011 | Status: Trader | 1,418 Posts
US500 - Nice rejection off H1 supply 2940, closing in on H4 demand at 2813. H1 slightly lower. Weekly starting to look bearish. Oops, CFD not exactly futures.
welcome
Small disciplines repeated with consistency lead to great achievements.
- #109
- Aug 14, 2019 3:35pm Aug 14, 2019 3:35pm
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Came back for some more this afternoon on this NQ scalping method, basically just capturing market gyrations, micro pullbacks in micro trends, pullbacks to micro broken s/r, and fading significant s/r.
81 trades in total today, 82% win rate. 345 gross ticks (2 position management) / lot of lost to commissions given the relative unfavorable MNQ commission structure (compared to the NQ). Poor reward:risk (0.5).
Going to continue to do some analysis (fortunately this method creates a lot of data as each 1m bar is a potential trade) and see if there's a win rate / R:R combo that provides similar profitability with a more favorable R:R. Part of the poor R:R was using much too large of a stop to gather MAE data.
81 trades in total today, 82% win rate. 345 gross ticks (2 position management) / lot of lost to commissions given the relative unfavorable MNQ commission structure (compared to the NQ). Poor reward:risk (0.5).
Going to continue to do some analysis (fortunately this method creates a lot of data as each 1m bar is a potential trade) and see if there's a win rate / R:R combo that provides similar profitability with a more favorable R:R. Part of the poor R:R was using much too large of a stop to gather MAE data.
Small disciplines repeated with consistency lead to great achievements.
- #110
- Aug 14, 2019 3:35pm Aug 14, 2019 3:35pm
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
US500 - Nice rejection off H1 supply 2940, closing in on H4 demand at 2813. H1 slightly lower. Weekly starting to look bearish. Oops, CFD not exactly futures.
Sometimes the CFD creates a Zone and the futures contract doesn't. I place a Zone in the corresponding area on the futures chart.
Without VSA, you're playing checkers while the Smart Money plays chess.
- #112
- Aug 15, 2019 10:00am Aug 15, 2019 10:00am
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
Journal Entry:
1 [SIM]trade: 1 win.
Trade 1:
I was feeling good this morning. I was excited to instill the new partial profit technique. I will now do what I should have been doing: using a "reverse pyramid" method of scaling out. Accordingly, if 5 contracts are entered, the first WRB pt results in two contracts being sold. Stop immediately moved to BE. Each subsequent WRBpt is at 1 contract. Thus the pattern looks like: 2-1-1-1.
My new understanding of the EvR interval has opened my eyes. I was mindful the BIG THREE as I watched this trade set-up.
THE BIG THREE:
1. Cause and Effect
2. Effort versus Result
3. Supply versus Demand
1 [SIM]trade: 1 win.
Trade 1:
I was feeling good this morning. I was excited to instill the new partial profit technique. I will now do what I should have been doing: using a "reverse pyramid" method of scaling out. Accordingly, if 5 contracts are entered, the first WRB pt results in two contracts being sold. Stop immediately moved to BE. Each subsequent WRBpt is at 1 contract. Thus the pattern looks like: 2-1-1-1.
My new understanding of the EvR interval has opened my eyes. I was mindful the BIG THREE as I watched this trade set-up.
THE BIG THREE:
1. Cause and Effect
2. Effort versus Result
3. Supply versus Demand
Without VSA, you're playing checkers while the Smart Money plays chess.
- #113
- Aug 15, 2019 10:57am Aug 15, 2019 10:57am
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
- #114
- Aug 15, 2019 12:16pm Aug 15, 2019 12:16pm
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
Journal Entry:
Two [SIM]Trades: 2 wins.
Trade 1:
Once again, I felt good taking this trade. Prior to taking this trade, I did an experimental trade which was a huge loss. I'm not discussing it because it would not have been taking for real. Or, more exactly and ironically, it would have been taken in SIM when I was done for the day.
Price was in ta Supply/Demand Zone so I was looking for ways to get Long. Truly understanding the concept of Effort versus Result is essential to trading Price and Volume. Notice the volume on the interval prior to the interval marked EvR. Then notice the range. Now look at the volume on the EvR interval. Volume is about 2/3 the volume of the previous candle. But notice the range-the range is rough 1/3 the size of the previous candle. In other words, this interval is getting 1/3 the result while putting in 2/3 the effort of the previous candle. Thus, something (DEMAND) must be compressing the range.
Confirmation is key. The entry signal is a wide spread DOWN bar that closes off its low with the next interval UP and closing greater than or equal to the body (Open-Close) midpoint of the prior candle.
The BAD:
Was a bit premature (where have I heard that before
) here, and took a WRB partial exit on a candle that was not a WRB. I think I was trying to "get money back" from the experiment and this is not something I want to do.
The GOOD:
Although my initial WRB pt 1 was not a WRB, I did use it as a WRB trail. I feel like that was the proper thing to do.
The Better:
As the trade developed, I felt comfortable being in the market. Rather than letting the Market take me out at my trail, I exited the trade when I saw a Dark (Open>Close) WRB that closed lower than the Open of the most recent White (Open<Close) WRB. ALL THE TRADE MANAGEMENT RULES ARE NOW IN PLACE.
Two [SIM]Trades: 2 wins.
Trade 1:
Once again, I felt good taking this trade. Prior to taking this trade, I did an experimental trade which was a huge loss. I'm not discussing it because it would not have been taking for real. Or, more exactly and ironically, it would have been taken in SIM when I was done for the day.
Price was in ta Supply/Demand Zone so I was looking for ways to get Long. Truly understanding the concept of Effort versus Result is essential to trading Price and Volume. Notice the volume on the interval prior to the interval marked EvR. Then notice the range. Now look at the volume on the EvR interval. Volume is about 2/3 the volume of the previous candle. But notice the range-the range is rough 1/3 the size of the previous candle. In other words, this interval is getting 1/3 the result while putting in 2/3 the effort of the previous candle. Thus, something (DEMAND) must be compressing the range.
Confirmation is key. The entry signal is a wide spread DOWN bar that closes off its low with the next interval UP and closing greater than or equal to the body (Open-Close) midpoint of the prior candle.
The BAD:
Was a bit premature (where have I heard that before
) here, and took a WRB partial exit on a candle that was not a WRB. I think I was trying to "get money back" from the experiment and this is not something I want to do.The GOOD:
Although my initial WRB pt 1 was not a WRB, I did use it as a WRB trail. I feel like that was the proper thing to do.
The Better:
As the trade developed, I felt comfortable being in the market. Rather than letting the Market take me out at my trail, I exited the trade when I saw a Dark (Open>Close) WRB that closed lower than the Open of the most recent White (Open<Close) WRB. ALL THE TRADE MANAGEMENT RULES ARE NOW IN PLACE.
Without VSA, you're playing checkers while the Smart Money plays chess.
- #115
- Aug 16, 2019 10:07am Aug 16, 2019 10:07am
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
- #117
- Aug 16, 2019 10:00pm Aug 16, 2019 10:00pm
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
- #119
- Aug 17, 2019 6:59pm Aug 17, 2019 6:59pm
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.