Very insightful! Thanks mate. Given the choppiness nature of the market when transiting between levels or breaking out of a range, do you enter your trade using market order or place a limit order somewhere halfway between the previous candle? btw: Which squawk service are you subscribed to? Thanks again, and keep up the good work!
I have used both. Frankly I think it depends on the circumstance I like to use limit orders early in the session when price is really moving around. Then later in the day, I use Market Orders. Also my system is assured of giving me several setups each day. So if I were to miss one, chances are I could make it up later... this allows me to use limit orders and try to get a more favorable entry or exit position than I might if I had to nail a specific price point. or a specific entry time. If you look at some of my charts, today in particular you can see that there were a lot of choices and most offered favorable positions at about 2 pts risk. Hope this helps Steve I will answer your question about squawk services by PM so as not to violate ET's rules about adverts.
Thanks guys for your kind comments. I hope you will read our group's "Trader28 Infomational Thread" located in Feedback Forum. The first post says it all. We are trying to take back the site and make it a good place to learn trading. Its easy to participate, all you have to do is put trolls (and aliases) on ignore... Its nice to hear your comments though I will tell you that. Best to you both Steve
I have one question. In another thread you said you are trading with Market Profile now and you claimed to be profitable using it and went into great lengths about being an expert trader with it. Now your claiming to be a profitable expert and specialist with constant volume candle / price action trading and I see no signs of Market Profile. So whats up?
The Mods here do nothing. I can't tell you how many threads I've read with constant bashing. and I haven't been a ET member long:eek: Classic example is Prof's thread about volume bars. so much wasted space dealing with garbage. I mean pages where there is no info just bashing back and forth. So bad that a Mod finally went ahead and just shut it down lol. It's sad really. Lucky for me some helped me out and told me to search and read that thread. If a mod only came and said stay out thread to those causing problem the thread would probably still going strong. ah well. keep this going steve46. I know it will help a lot of people just like Prof's thread did just by the views. A lot don't post, they just read post/threads and some are guests and this can be a starting point for them Thanks again
Traber; I appreciate your comments. As you know anybody with 2 fingers to type with can post here. No barriers to entry. The result is that we have trolls and borderline personalities on the site, and when they want to create problems, they can do so easily, making it unpleasant for those of us who want to take about trading in a civil way....Its easy to get caught up in this, to get angry and to reply in kind. I have been guilty of it, and so have many others. That is why many valuable ET members have left or don't post. A group of us have decided to agree on a way to handle this. What we have decided to do is to ignore trolls, and to ask everyone else to do the same. Just put them on ignore or simply don't reply...So far it has been working. The moderators are volunteers and they are doing what they can. They are helping us when they can by verifying aliases (another big problem here). Once we see one, we let others know about it, and they do not receive a reply to their posts. This is working and it will work if you all will participate. We all appreciate your help and look forward to taking back this site and making it better for all of us to use. Thanks Steve
I've never met a consistently good trader with a bad attitude... The nasty attitude types fizzle out quickly, like they should.
Its been a nice day What I want to do is to post a couple of thoughts about entries A lot of newbies struggle with entries. They hesitate because they are unsure if and exactly where they should pull the trigger. First let me say this. IF you are uncertain as to whether to trade. It is a signal that you haven't done enough homework on your system...You have to have confidence in your system or you won't be able to endure the inevitable losses every system goes through....I will leave the rest of that for another post... Now as to entries. This system offers multiple good entries if you know how to approach it. The attached chart shows the setup 1. Slope of the longer term MA is down 2. Cross of the shorter 80 MA below (Blue) the longer 200 MA (White). 3. I use a filter, in this case the $VOLD on a 1 min chart to confirm Everything is a "go" as price tests the 200 at 13:19:36 and the first opportunity to enter is at the close of that bar 1289 with a 2 point stop. The 2nd opportunity to enter is at 13:20:39, the "doji" The 3rd opportunity to enter is at the close of the next bar that breaks above the 200 MA at 1289.50 (I will talk about why later) Price fails to take out the 200 MA (White) by more than 2 points and the 4th and final short entry opportunity is on confirmation of the failure at 1288.75 As can be seen, the trade moved south and tagged the Daily Pivot for a nice profit.