I don't follow... Can you give an example of a trade setup? For instance, I've watched a few of Jack Broz's webinars and he discusses when you see a wall, put an order a few ticks above/below it initially and then watch to see if the wall holds. Do you front run the wall, get in line w/ the wall, go behind the wall or wait and see before acting?
meant to say: Most of my trades start with few ticks of profit in mind, then I just follow the price action. Not sure how Francois Mitterrand got into the sentence. Must be in paste memory somehow. I would not recommend puting the limit order on the other side of the wall. Very often, when the wall is penetrated there could be a small pullback, and you would immediately get into red. It might bounce back, but I do not like when trades goes against me immediately after it is opened.
So how do you play the wall then? You don't want to front run it b/c it could break the wall or it could be fake (and cause loss) and you don't suggest putting a limit order a few ticks from it... Trying to put the pieces together of how to use the wall to trade from. Maybe an actual trade example would help.
If the price is few ticks away from the wall, the odds are in your favor that it will touch it, thus you are already in the green, if you enter into position. That is one of the safer trades to make. You just need to be very quick if the price bounce off it.
Mr Hershey.At least in the old days they used to shoe the Geese before driving them to market. I'm prepared,so I'm looking forward to the squawking of the Geese who get their reward. Not so much that from the innocent ones,however.
Redduke, I have a simple question but one that needs to be answered. It is now two years later.....Redduke has your experiment with ACV over the past two years been successful (i.e., are you profitable) or has this been a waste of time? On a side note: I noticed that VSTscalper is "out of business"
Yes, it has been successful. This concept can be approached in 2 different way for trading. There are actually more, but it is a different topic. One: Use it for ultra short term trades to get few ticks right before the price will touch the wall. Two: Use it as a filter for trades. Let's say you use some system, and it gives you a long signal. Check what is present on ACV/Wall before entering the trade. I stressed it many time on multiple threads the importance not only of price action, but the combination of price action, dom and t&s. It is a lot of work to monitor these and will require development of some kind of visual aids (call them indicators) to help in analyzing this info faster. The last time I have heard from VSTscalper was in August 2008. Not sure what happened. Regards, redduke
I'l post two snagits to put all the pieces together. The first one shows short trade and the second shows a long trade. For convenience of learning the trades are linked and each carves the turn to get the full opportunity. This involves about 7 leading indicators of the price that is being traded.
A couple of warm up comments. In another thread a person says he can teach a person to trades in a matter of minutes. Then he throws in a BUT..... He also takes the trouble to explain why he hates a lot of people who help others. Certainly the series of posts I shall make clearly show how the modern tools of market analysis make it possible for anyone to have the holy grail (A thing that continually extracts the total offer). Obviously I would like to meet redduke very much and share some time on the "machine". We share similar interests and we both have our computers "tooled up" for trading to continually take the markets offer. What is at hand is a 4 point trade followed by a 2 point trade. The first trade lasts 4 bars and the second trade lasts 3 bars. The crew I work with started the AM with a "long diagonal" on a trade that was short and called a R2R which is what follows an FTT that eneded a prior BBT and its subtrend to get to that FTT. In other words, the day opened with a short trade of several bars and many points pagged per contract. The two charts just repeat the opening trades: a short followed by a long where just 4 then 2 points were involved instead of many more points that started today. The mind is involved in trading and it is NOT involved in the manner of the first two ET posts made by the person first referenced above. His mind has been destroyed for trading permanently. Lets say, you as a reader, are capable of reading what I am posting. Please just take it in and print the illustrations and consider developing your mind to do these things like driving a car. The illustrations are simply what is seen on screens that have "tools" on the screen. The tool correspond to the signs and things a car driver sees as he drives. As he drives his mind is thinking and he is comfortable, feeling he is driving well (supported emotionally) and he is confident of his driving. This is very unlike what you read in ET whose posters mostly show anxiety, fear and anger. People do not drive cars with feelings of fear, anxiety and anger. The reason is, is that they know what they are doing. By using tools a person can trade with the feelings of support, comfort and confidence. Some of us are tool makers for those who wish to be rich and helpful to others. It is fun to make helpful tools. One of the things we do first however is get to be expert at "knowing that we know" the markets down cold. To know he markets down cold is also fun and very much like having sports skills. Sailing the A and B class boats is a skillful thing and having a lot of boat under you is delightful. Boats are like holes a person pours money into. So are sleek gliders with 50 foort wingspans and 50to 1 glide ratios. A glider instructor landed a commercial airliner in the Hudson this year. In doing so he neatly snapped off the engines which were full of feathers first. For me it was fun to watch him drag the tail before he took the engines off. I like flying sleek gliders for hours while taking advantage of the aircurrents and thermals. Learning to "know that you know" thermals comes from flying ships that are designed to fly sleekly and fast and acrobatically in air where there is absolutely nothing visuble to the naked eye. Using well designed tools for screen display means that price does not have to be displayed to carve every tick form the markets. Here I am going to post two charts that are tooled up. I am also including some other things like price to show the results of using the tooling. My mind is fully differentiated for trading. For me there is no time when I do not know precisely what is going on whether observable or below the horizon of observability. I am simply front running the markets 100% of the time and I am continually "taking" the market's offer as it is offered. If you read this and look at the pictures, you get to have a glimpse of what it is like to have "unlimited" resources at one's disposal. I realize that testing what I say is easily done. But again the person doing it has to have enough brains and use them to get the job done. This possibility has been provided with abundance over time here in ET. If a person decides to not develop his mind, he is making that decision consciously and for his reasons. All day every day, the tooling works as leading indicators of the carving of all the turns that will be appearing. Daily, people sit with me and we do the calls. We take the calls. Let me put the pieces together for anyone who wishes to create their tooling and do the same. DOM, ACV, and the WALLS.