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  • #561
  • Apr 22, 2020 12:00pm Apr 22, 2020 12:00pm
Enjoying your thread RMG. I like the fact that you wish to keep things simple. I focus on the S&P Emini, so not much to contribute here.

However, there are great order flow tools available that will help you. I approach the market in a similar way to 133usd. Its all about volume of orders. Volume moves price. Seeing the volume of orders stacked at key levels and the volume of orders moving price may help.
  • #562
  • Apr 22, 2020 12:18pm Apr 22, 2020 12:18pm
Quoting corinthia
Enjoying your thread RMG. I like the fact that you wish to keep things simple. I focus on the S&P Emini, so not much to contribute here. However, there are great order flow tools available that will help you. I approach the market in a similar way to 133usd. Its all about volume of orders. Volume moves price. Seeing the volume of orders stacked at key levels and the volume of orders moving price may help.
Welcome Corintha,
You can still contribute doesn't matter ES or NQ.
I do understand that volume moves price. I couldn't convince myself with order flow tools. May you can explain I might pick up something from style. Feel free to comment.
on a postive roll...
  • #563
  • Apr 22, 2020 3:22pm Apr 22, 2020 3:22pm
I'm not gonna lie, orderflow trading isn't the easiest thing at all. I'm still getting the hang of it. If you want to learn for free, google "free jigsaw orderflow lessons" and they have several videos. Being able to see which side is absorbing is very helpful. Prior to using orderflow, finding support or resistance is a total educated guess/bet.
I can be across the room and my volume alerts are hitting and I immediately know the market is just starting to move against me or in my favor. These are little "hints" and it's just another pattern to add.

I switch over to Demo in the afternoon sometimes...when I saw the breakout, it was 170 contracts in 1 order that pushed it, but I could see not a whole lot of buying to support it, and an iceberg at the pullback held it up I think. Well as it rose up, I'm selling into it the whole way, because there was very few large orders hitting the ask, it was there but fairly sparse I guess. And then what you saw next was the selloff!

But dang, I did have sticker shock with the price of Jigsaw. Then again, look at the price of a CBOT exchange membership 25k.
Expensive is subjective is all I'm saying.

There is a reason why prop firms use it though, along with really intense training.
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  • #564
  • Apr 23, 2020 12:26am Apr 23, 2020 12:26am
Low to high day,
It could be beginning of 3rd wave of retracement on daily. Or forming a trading range we will see.
on a postive roll...
  • #565
  • Apr 23, 2020 2:24am Apr 23, 2020 2:24am
Rejection from Y High, sliding south heading towards low.
on a postive roll...
  • #566
  • Edited 5:01am Apr 23, 2020 4:38am | Edited 5:01am
Quoting Rmg
Low to high day, It could be beginning of 3rd wave of retracement on daily. Or forming a trading range we will see.
Considering the wave structure on DOW daily, makes me very nervous if not depressed.
I still hope for V shape recovery, otherwise Failed C, or C of an ABC rather than 3rd of 5, when the possible 5th fibs indication of the whole 5 wave down move proposes a total disaster scenario.
I hope I understood the reference to the 3rd wave on daily, that to mean 3rd out of 5.
Do not wish to clutter your journal, so will post chart on the other thread.
Make sure losses are small and profits are bigger!
  • #567
  • Apr 23, 2020 4:44am Apr 23, 2020 4:44am
Quoting 2be
{quote} Considering the wave structure on DOW daily, makes me very nervous if not depressed. I hope for Failed C, or C of an ABC rather than 3rd of 5, when the possible 5th fibs indication of the whole 5 wave down move proposes a total disaster scenario. I hope I understood the reference to the 3rd wave on daily, that to mean 3rd out of 5. Do not wish to clutter your journal, so will post chart on the other thread.
Feel free to share your views 2 be, My trading is already cluttered big time so don't worry.
As of waves i am naive , i would say we are at the crossroads now on daily.
on a postive roll...
  • #568
  • Edited 6:37am Apr 23, 2020 4:50am | Edited 6:37am
Quoting Rmg
{quote} Feel free to share your views 2 be, My trading is already cluttered big time so don't worry. As of waves i am naive , i would say we are at the crossroads now on daily.
Thanks for that.
out of respect for Rmg and his journal I have edited this post, while I am able to do so.
I thinks it is not fair to inflict concepts that are not part of a given trader's considerations and barging in might only assist more confusion.
The only contest a trader has to win is between profits and loses.
My very best wishes to Rmg.
Make sure losses are small and profits are bigger!
  • #569
  • Apr 23, 2020 5:06am Apr 23, 2020 5:06am
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on a postive roll...
  • #570
  • Apr 23, 2020 5:37am Apr 23, 2020 5:37am
Loudspeaker formation at the top end a rising Wedge. Very volatile times, the wedge lower TL likely to be retested, I think I posted it somewhere.
Make sure losses are small and profits are bigger!
  • #571
  • Apr 23, 2020 5:53am Apr 23, 2020 5:53am
I don't use fibs or waves as my trading basics comes from Adam grimes or Linda. But i see 3 to 5 legged retracement on 1 minute tf all the time.
This is not to discourage, just read what he has to say about it, if it works for by all means go for it.
https://adamhgrimes.com/fibonacci-conclusions-22/
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on a postive roll...
  • #572
  • Apr 23, 2020 5:58am Apr 23, 2020 5:58am
Quoting 2be
Loudspeaker formation at the top end a rising Wedge. Very volatile times, the wedge lower TL likely to be retested, I think I posted it somewhere.
I guess the same, very volatile and no good time to fund my futures account. lol!!
on a postive roll...
  • #573
  • Apr 23, 2020 6:06am Apr 23, 2020 6:06am
News release later on.
A lot of money is gained or lost in times like that.
Strong hands are needed, wise hands are needed more.
Make sure losses are small and profits are bigger!
  • #574
  • Apr 23, 2020 6:41am Apr 23, 2020 6:41am
I don't use fibs or waves as my trading basics comes from Adam grimes or Linda. But i see 3 to 5 legged retracement on 1 minute tf all the time.
This is not to discourage, just read what he has to say about it, if it works for by all means go for it.
https://adamhgrimes.com/fibonacci-conclusions-22/

Absolutely, do and repeat what brings profits, and let nobody destruct you from it be it by post, lecture or a book.
Make sure losses are small and profits are bigger!
  • #575
  • Apr 23, 2020 8:25am Apr 23, 2020 8:25am
DO & Low have been held so far bullish signs ... may take out prior high.
on a postive roll...
  • #576
  • Apr 23, 2020 8:42am Apr 23, 2020 8:42am
Live cfd and sim futures same time. I gotta keep my skills brushed up.
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on a postive roll...
  • #577
  • Apr 23, 2020 9:52am Apr 23, 2020 9:52am
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on a postive roll...
  • #578
  • Apr 23, 2020 10:15am Apr 23, 2020 10:15am
Quoting Rmg
{image}
Hey I like those arrows, what are they?
Thanks RMG for allowing us to post along with you. This thread is feeling like a great community

I clocked out at 930am. Shorted initial spike 5 mins after open, scaled out and into a long, exited longs and re-entered longs.
Daily profit target hit, which means I'm not concerned about the extra 100 to 200 points extra I "coulda" earned

All the funky wave theory stuff is at least good to know about, as people do follow it which alone will shape the market.
Unknowingly I'm sure I trade some of those wave patterns, but I don't know the formal names or theories haha
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  • #579
  • Apr 23, 2020 10:33am Apr 23, 2020 10:33am
Quoting 133usd
{quote} Hey I like those arrows, what are they? Thanks RMG for allowing us to post along with you. This thread is feeling like a great community I clocked out at 930am. Shorted initial spike 5 mins after open, scaled out and into a long, exited longs and re-entered longs. Daily profit target hit, which means I'm not concerned about the extra 100 to 200 points extra I "coulda" earned All the funky wave theory stuff is at least good to know about, as people do follow it which alone will shape the market. Unknowingly...
Those arrows are trades taken history not signal as it looks like.
You may want to catch the move as much as possible without opening a new position.
I like the way this thread is evolving, I was talking to myself for very long time.
on a postive roll...
  • #580
  • Apr 23, 2020 11:38am Apr 23, 2020 11:38am
Quoting Rmg
{quote} Those arrows are trades taken history not signal as it looks like. You may want to catch the move as much as possible without opening a new position. I like the way this thread is evolving, I was talking to myself for very long time.

Oh that's good trading history in that case, nice!!!!
Heh heh, talking to yourself is great, so long as nobody else hears it

Yes I should be catching more of each move, even if it's just a few extra points, that's 1 of my weaknesses yes. A big lesson for all traders is to be confident, but know where your weakness is and constantly improve those areas. I was just talking to a friend about that an hour ago.
My list of flaws is pretty long....posting here and in offline notebook journal helps immensely !!!
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