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  • #9,441
  • Jan 11, 2016 9:21am Jan 11, 2016 9:21am
10 points ES today. This puts the account at a level to increase my size to 2 contracts tomorrow. I think rather than a daily update I will just update how this is going at the end of each week for now.

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This is a five minute chart that I programmed up to match a template based upon the work of Rhagee Horner I saw in a free video of hers posted on FF last week and a member of FF named sonicdeejay (if the mods need to delete reference to commercial FF members I'll repost the chart later with no mention - I am NOT now nor have I ever been nor will I ever be a commercial). The basis of this trade was basically an opening range bear break after a test of last Thursday's 28.50 low as resistance. I covered at the gap fill back to Friday's closing levels.
  • #9,442
  • Jan 11, 2016 9:24am Jan 11, 2016 9:24am
Quoting ddaytrader
10 points ES today. This puts the account at a level to increase my size to 2 contracts tomorrow. I think rather than a daily update I will just update how this is going at the end of each week for now. {image} This is a five minute chart that I programmed up to match a template based upon the work of Rhagee Horner I saw in a free video of hers posted on FF last week and a member of FF named sonicdeejay (if the mods need to delete reference to commercial FF members I'll repost the chart later with no mention - I am NOT now nor have I ever been nor...
phenominal DD
  • #9,443
  • Jan 11, 2016 9:29am Jan 11, 2016 9:29am
Quoting Divergence
about 4 yrs ago when I was trading forex I was using a support turning into a resistance method to enter trades also incorporating in 123 and 2b patterns as also s and r trades also
A very important principle, in my opinion - if you see my ES trade today, the opening range broke to the bear side after the top of the opening range founr resistance at what had been support.

Quoting Divergence
DD has been a tremendous help here causing me to remember the trading in the zone mentality. when I was trading forex using the above I was zoned in and now am trying to be as zoned in as I was in forex
This is key to trading successfully, in my opinion, regardless of system or method. This is because trading in the zone allows you to trade your method flawlessly (or at least as flawlessly as we inherently imperfect, i.e. flawed creatures are able.

Great thread you have here, D.

I see erasmus66 is back with us! Happy New Year Erasmus!
  • #9,444
  • Jan 11, 2016 9:34am Jan 11, 2016 9:34am
In concur DD that's why I am trading s and r via 123 and 2b and h and L of day setups
  • #9,445
  • Jan 11, 2016 9:44am Jan 11, 2016 9:44am
Another price action concept that is really an extension of S/R is that of a trading range (market is either trending or ranging). For example, the ES had a bear trend last week. It looks to have put in at least a temporary trend reversal at last night's Globex low, from which it first rallied to 13.75 before a minor pullback to a higher low (the higher low confirms the trend reversal implying that at least one more leg up would occur). This leg then ran to 28.50 and then 29 on a test of that prior support as resistance. The ES is basically in a trading range between that 13.75 +/- and 28.50 +/- as viewed on the hourly chart. A bear break would lead me to look for a test of the 2.25 higher low or even the 1893.50 Globex low. A bull breakout above the range and I would expect at least two or three bull days before the bear trend reasserts itself. If we do see two or three green (positive close) days, then what the market does on the fourth day will be the tell - in my opinion of course. I am leaning short term toward a bull break of the range and a 2-3 day rally before the market makes any larger decisions.

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  • #9,446
  • Jan 11, 2016 9:46am Jan 11, 2016 9:46am
Hi DD, Happy New Year to you and everyone else .. apologies for not posting in a while .. have been backtesting(i find it the best way to learn the principles discussed). Currently catching up on thread and looks to be some great insight here as usual .. well done guys top work
Become the casino
  • #9,447
  • Jan 11, 2016 9:50am Jan 11, 2016 9:50am
YM short from 31 on the pb
  • #9,448
  • Jan 11, 2016 9:57am Jan 11, 2016 9:57am
Thanks DD for joining us and helping trigger the mindset of trading in the zone I am doing just that
  • #9,449
  • Jan 11, 2016 9:59am Jan 11, 2016 9:59am
S and r trade on crude low was 25 2 closes below and the pb wham
  • #9,450
  • Jan 11, 2016 10:03am Jan 11, 2016 10:03am
Quoting Divergence
S and r trade on crude low was 25 2 closes below and the pb wham
yes v.nice Harold:

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Become the casino
  • #9,451
  • Jan 11, 2016 11:10am Jan 11, 2016 11:10am
Desiderius Erasmus Roterodamus (so sorry, 'ras, living in NL one is aware of your part namesake's history... but I was wondering where you'd gone, so welcome back !)...

@dd +10pts on the ES is outstanding : I recognise a bit of "essential Sonic" in you chart (is he still around ?).

To trade flawlessly and consistently is indeed the goal !
  • #9,452
  • Jan 11, 2016 11:13am Jan 11, 2016 11:13am
heres todays recap talk about trading in the zone. I like to lock in 15 on first trade so that next trade is a freebie. well got 15 next trade was a loser. but then goy in a ym and again locked in 15 but it never stopped me out and went to +30 then got 2 more ym trades for 30 each. Its makes trading easier when trading from the plus side. so trading 2 contracts on ym today netted me 90 ticks or 900 and the 1 crude trade with 2 locks net me 30 ticks for 600 so if I am not in a zone lately I don't know what a zone looks like
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  • #9,453
  • Jan 11, 2016 11:20am Jan 11, 2016 11:20am
Well, everybody, H & dd keep hitting it out of the park, so we have to Get in the Zone and Up our Game, right !?
  • #9,454
  • Jan 11, 2016 11:24am Jan 11, 2016 11:24am
plan a trade trade a plan is the jist of it that's the zone trading
  • #9,455
  • Jan 11, 2016 11:32am Jan 11, 2016 11:32am
Quoting jtrade
@dd +10pts on the ES is outstanding : I recognise a bit of "essential Sonic" in you chart (is he still around ?). To trade flawlessly and consistently is indeed the goal !
The ema band is RHorner/Sonicdeejay inspired. The color candles are my interpretation of an RHorner suggestion that she uses in Metastock (I do not have Metastock so I am doing a bit of "guesswork" as to what her indicator is in fact ... indicating lol. This morning's trade really was pure price qaction (support turned resistance + opening range break). The indicators are me being nostalgic more than anything else.

I see sonicdeejay posted a few times to his old thread this morning. His thread is essentially dead. I post occasionally, but it is not the same as it was four or five years ago. We had a good solid crew there back then, but most of those dear to me have been gone from FF for at least a year or more.

I like the crew D has attracted here. I also like the fact that the trolls seem noticeably absent. So we get to actually enjoy one another's company and have interesting and productive shares of knowledge/experience.
  • #9,456
  • Jan 11, 2016 11:36am Jan 11, 2016 11:36am
Quoting erasmus66
.. apologies for not posting in a while .. have been backtesting(i find it the best way to learn the principles discussed).
If everyone who dreamed of day trading would back test as part of their preparations, there's be a lot more successful day traders than there are. Great work ethic, Erasmus!
  • #9,457
  • Jan 11, 2016 11:44am Jan 11, 2016 11:44am
Quoting ddaytrader
{quote} If everyone who dreamed of day trading would back test as part of their preparations, there's be a lot more successful day traders than there are. Great work ethic, Erasmus!
totally agree for its out of backtesting that strategies are born
  • #9,458
  • Jan 11, 2016 11:46am Jan 11, 2016 11:46am
thanks guys great to be back .. i'm all at sea with ym chart - any idaes where i'm going wrong:

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Become the casino
  • #9,459
  • Jan 11, 2016 11:52am Jan 11, 2016 11:52am
Quoting erasmus66
thanks guys great to be back .. i'm all at sea with ym chart - any idaes where i'm going wrong:
I used to use MACD quite a bit about 10 years ago (I cannot believe how long ago that was!) and a trader from another forum now defunct taught me a set up he called "the MACD Kiss" Rather than explain it, I circled those points on the chart where the MACD w/price action set up two short trades - both MACD kisses. This is, in my opinion, a variation of a set up that Linda Raschke uses that she calls "The Anti"

Here is the chart you posted Erasmus. The red circles show the MACD signaling short entries.

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  • #9,460
  • Jan 11, 2016 11:57am Jan 11, 2016 11:57am
Quoting Divergence
{quote} totally agree for its out of backtesting that strategies are born
I always felt that strategies are born out of our observations of price action, and that back testing was tool to check whether what we were seeing (during the ocurse of our observations) was in fact worth believing. It is all very "scientific method" if you ask me. Yes, tradingis an art. But that part of trading which is an art is mostly "the art of self-discipline and self-control," and the science is the observation, making hypotheses (e.g. I notice that when the market makes a higher low or a lower high it tends to reverse in that direction) and then (back)testing and (forward)testing our hypotheses. Out our test, trading plans are born.

That's how I look at things and I have found that view to be very helpful to me.
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