Post a centering chart. I will annotate it for you. If you want help from others consider posting something that will tell them were you are in the infinite scheme of things. What you will see is a pennant (do search for definition) The pennant has a point to the right. If you do not want to gamble and guess wrong, you bracket in with protective stops. Search bracket in. Search protective stops. This is a beginner low risk entry. Set stop at value of point of centering immediately after market takes you in. When price moves off entry value in the direction of the trade, advance stop to break even and cancel your prior stop. Search break even. Repeat every 2 to 3 minutes by advancing stop the same distance. You will be stopped out soon. Quit for the afternoon. After 20 days (a month) and doing 20 centering (one each beginning of the pm) you can work out a more sophisticated way to double your profits by holding through the trend created by the break out from the centering. Search break out. how did you find out what centering was?? Post your gains each day as a contribution.
Grob109, Thanks for the information, still in the learning stage and not yet ready for intraday stuff (have a day job). Once I have more confidence and have something to contribute then I will. The quoted post had a chart as attachment and the chart mentioned centering. Maria
Mak, you make productive use of your time en route to LI - appreciated for sure. Those particular bars are clear to me i.e. 25 to 28 because we are moving left to right as expected and price behaves by not breaking downward at that time. The overlaps of your green and red boxes are interesting and in each case they are followed by a V then P break out or in some cases a combo VP breakout i.e. same time. A minor exception is at midday bar 31 I believe where volume increases mildly over the previous bar and price dips downward by a tick before changing course for an up leg. This would be a fakeout for me until my eyes become keener and my golfing handicap moves into single digits. I extracted todays data into excel and plotted it to see relationship between H-L vs. vol per 5 min ES bar. Certainly many longer bars have higher volume but nothing jumps out at me as obvious beyond that. Perhaps osmosis will enlighten over time. thanks as always for your effort - Grob likewise for yours. Irl
Credance for PRV, a simple excel spreadsheet (ie. pivot table)... Note the shift and where scalpers are at the most risk per 5M segment. PONDER! I really could run very far and get carried away with the many aspects of the attachment but it would require a new OT thread for scalpers to anticipate H-L given PRV. However, we're focused... MAK!
so if i understand this right - if a position goes against you a couple of points - you just rely on that the market will come back to your entry point sooner or later? isn't such a style commonly known as recipe for desaster? do you have plans for the unevitable day that will come when you hold multiple contracts and an outside event will move the market 10 or 20 pts. against you - without ever coming back?
mr. grob, there is no need to belittle me - just because you are once again unwilling or unable to give a short and distinct answer. i had some questions in this thread - and i asked them in a way that was and is far ahead of the average standard of communication around here - yet - your reaction is to ridicule me like everyone else before who is not a blind believer of what you are offering (and i still think you have something to offer). this once again brings up the question about why you find it necessary to do so? if you are so old, experienced and skilled as you pretend you are - is such a behaviour adequate for the gentleman you like to be? think about it ... regards, gerry
The market has a definate structure. You can probably understand that sometimes it is fortuitous to hold through price pertibations(lateral channel). Experience and understanding market conditions is more important than stop losses(fear induced).
Mak many thanks indeed for this - much appreciated - the figures are certainly interesting - I will run some more days. I was actually close, I just hadn't put the chart in crosstab/pivot format. A thread on this at a later point would be interesting but as you say we remain focussed for now thanks again ! Irl
you still don't get it, do you? how long have you, tradingbug, been dealing with the markets already? all the best for you guys anyway - you will need it.