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Plan the Trade

  • #14,141
  • Aug 24, 2021 7:31am Aug 24, 2021 7:31am
In fact, prime example of the bullshit going on today. 12 stop, solid green line was my entry. Filled me at the dotted line!, took a stop of -8. I mean, what chance you got? You'd think it was forex...

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'in less than half an hour he made over 100 ticks'
  • #14,142
  • Aug 24, 2021 8:05am Aug 24, 2021 8:05am
Quoting onejester
In fact, prime example of the bullshit going on today. 12 stop, solid green line was my entry. Filled me at the dotted line!, took a stop of -8. I mean, what chance you got? You'd think it was forex... {image}
tough one
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #14,143
  • Aug 24, 2021 8:51am Aug 24, 2021 8:51am
Ras, are you hanging tough with the 40 sec chart?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #14,144
  • Aug 24, 2021 1:17pm Aug 24, 2021 1:17pm
Quoting capstone
Ras, are you hanging tough with the 40 sec chart?
hi Tony here's something that seems to work well .. price breaks swing and then forms a 2b, whick breaks and comes back to the swing, e.g. here's my trade today:

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Become the casino
  • #14,145
  • Aug 25, 2021 4:41am Aug 25, 2021 4:41am
Quoting erasmus66
{quote} hi Tony here's something that seems to work well .. price breaks swing and then forms a 2b, whick breaks and comes back to the swing, e.g. here's my trade today: {image}
Ras, It looks like there a couple of other opportunities before the one you took. Did you let those go intentionally? Are you only looking for 2b's after swing breaks now?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #14,146
  • Aug 25, 2021 6:36am Aug 25, 2021 6:36am
What's the maximum contract size of Harold's strategy? I guess 5 contracts? (NQ and YM's liquidity is much lower than ES). Anyway, you won't be able to become a millionaire trading like this due to high trading cost (slippage and spread). Practice many many years and even the best expectation is not fancy enough..... Worth spending time on this? Better operate a small business. IMHO, day trading, especially scalping, is a loser's game.
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https://www.elitetrader.com/et/threa...enalty.337633/
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #14,147
  • Aug 25, 2021 6:59am Aug 25, 2021 6:59am
On the other hand, Davit's pivot factory strategy can facilitate bigger trading size. That's the only advantage I can see from his strategy. Of course, in the end they will blow their accounts but people can at least dream they can become a millionaire some day.....
Drawing out funds regularly could protect traders from ruining? I don't know.......
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #14,148
  • Aug 25, 2021 7:03am Aug 25, 2021 7:03am
Quoting heispark
On the other hand, Davit's pivot factory strategy can facilitate bigger trading size. That's the only advantage I can see from his strategy. Of course, in the end they will blow their accounts but people can at least dream they can become a millionaire some day..... Drawing out funds regularly could protect traders from ruining? I don't know.......
Good thing I'm not trying to be a millionaire then.

You can put up to 10 contracts on NQ with no slippage. My round turn cost is 2/3 of a tick.

Also, isn't supply and demand trading as old as the sun? This is not new stuff, people have been doing it for generations. I struggle with it because I overthink it and then complicate it. I know my issue, just need to get out of my own head.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #14,149
  • Aug 25, 2021 7:20am Aug 25, 2021 7:20am
Quoting capstone
{quote} Good thing I'm not trying to be a millionaire then. You can put up to 10 contracts on NQ with no slippage. My round turn cost is 2/3 of a tick. Also, isn't supply and demand trading as old as the sun? This is not new stuff, people have been doing it for generations. I struggle with it because I overthink it and then complicate it. I know my issue, just need to get out of my own head.
When you watch Harold's Youtube videos, he often experienced slippage even with 3 contracts. Market order is always vulnerable to slippage (sometimes positive).
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #14,150
  • Aug 25, 2021 7:38am Aug 25, 2021 7:38am
Quoting heispark
{quote} When you watch Harold's Youtube videos, he often experienced slippage even with 3 contracts. Market order is always vulnerable to slippage (sometimes positive).
That is true. He and I are both with a different order router now, and so far, it has been spot on. Obviously, when the market is flying very fast, there is slippage, which will be true no matter what type or style of trading you are doing. Any slippage that is experienced in those moments, is not wiping out profit. If the style required a 1 point win, like PATs trading does, then I could see the issue of slippage and cost, but this style doesn't scalp like that.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #14,151
  • Aug 25, 2021 7:57am Aug 25, 2021 7:57am
Quoting heispark
What's the maximum contract size of Harold's strategy? I guess 5 contracts? (NQ and YM's liquidity is much lower than ES).
Incorrect. Both the NQ and YM can handle significantly larger size before slippage ruins an edge. Furthermore, there is no slippage in limit or chase-limit orders that many people prefer using.

That said, i do personally prefer and trade the ES.


Quoting heispark
Anyway, you won't be able to become a millionaire trading like this due to high trading cost (slippage and spread). Practice many many years and even the best expectation is not fancy enough
Also incorrect. More importantly, this is your yardstick, not every trader has this objective. From my understanding Harold is supplementing retirement income with his trading, and that objective is met week-in, week-out.


Quoting heispark
Better operate a small business. IMHO,
Maybe, but definitely if you don't have an edge and the required mentality to execute that edge over and over and over and over and over and over. That said this is a trading forum.

Quoting heispark
day trading, especially scalping, is a loser's game
Incorrect, however, i will concede that if the above is a belief you hold, then 100% there is no chance for you in scalping, daytrading, and most likely trading as a whole. Be careful with your beliefs.
  • #14,152
  • Aug 25, 2021 8:40am Aug 25, 2021 8:40am
I'll toss in that with ES you can watch 100's of contracts filled without slippage.
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  • #14,153
  • Aug 25, 2021 1:23pm Aug 25, 2021 1:23pm
im trading 6 contracts at the moment and it seems the only time i get slipped is when i get a +2 instead a +3 on my BE trades otherwise with the order routing as tony says its spot on. Now can you make a living day trading the answer is i dont know about you but i have for may years
  • #14,154
  • Aug 26, 2021 4:44am Aug 26, 2021 4:44am
Quoting Divergence
im trading 6 contracts at the moment and it seems the only time i get slipped is when i get a +2 instead a +3 on my BE trades otherwise with the order routing as tony says its spot on. Now can you make a living day trading the answer is i dont know about you but i have for may years
Hey Harold, could you do a livestreaming? just to see your strategy in action and chat lil bit, no pressure sir

SDTAG
  • #14,155
  • Aug 26, 2021 6:39am Aug 26, 2021 6:39am
quick one

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  • #14,156
  • Aug 27, 2021 7:23am Aug 27, 2021 7:23am
Hey Ras, did you go short at 9:45 or long at 9:48?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #14,157
  • Aug 27, 2021 7:54am Aug 27, 2021 7:54am
Quoting capstone
Hey Ras, did you go short at 9:45 or long at 9:48?
missed the session Tony .. yes saw same as you as well as 2b break pb at start:

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Become the casino
  • #14,158
  • Aug 28, 2021 6:02am Aug 28, 2021 6:02am
Quoting capstone
Ras, are you hanging tough with the 40 sec chart?
I know you addressed erasmus and I wanted to share that I am not good at the sub-minute charts. Maybe the price action is too jerky or gappy for me.

I have been working more with cableguy's approach found early in the thread. Mostly the price action using 1 hour charts and 5 minute charts (he used 2 and 3 minute and 1 hour).

I do not use the EW stuff, but price action and fibs seems to me to have some real promise.

I wish he were still with us. Like Divergence, I think cableguy had some good knowledge to share.

Good trading to all in this great thread.
  • #14,159
  • Aug 30, 2021 11:04am Aug 30, 2021 11:04am
I only saw one potential entry at 9:41:20, based on Harold's strategy. It was a long at 15499.50. Anyone take it?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #14,160
  • Aug 31, 2021 6:47am Aug 31, 2021 6:47am
interesting .. one lot filled at tp and the other at +20:

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Become the casino
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