Here is a chart that shows some Fake Out or Sucker trades....that I talked about in the 2 Webinars. This chart is for Today....02-07-07. This chart is a....ER_610_Tick Chart....used for Identifying a Range Condition. You can use Tick....Minute....or Volume type charts....for Trend charts....I prefer Tick Charts....for Trend trades and Scalp trades. Once Price Enters into a Range Condition....I Scalp only on a much faster Tick Chart....usually a 20 tick chart....then when I determine there is a True Break Out....I make a decision on whether to Trend trade or stay in Scalping mode. This depends on other factors as well....one being the ACV. This thread is about the ACV....and as I have mentioned....the ACV will help show Price....Entering and Exiting....a Range Box. Good trading to all. Bill VSTscalper
VSTscalper, Thanks for your generous sharing during your recent two webinar sessions and onging commentary here on ET regarding your methods. From my own experience, I am finding your Range Box approach to be very effective to avoid fake out moves and help define the market mode and trading style that will be most effective. Its helpful that you've pointed out that you must still consult your other go/no go indicators when a range breakout does occur. One clarifying question though regarding the initial conditions to declare a range box. It seems to me that in almost every example that you have shared, a range box will not be declared until: 1) A flattening of the trend denoted by a reversal bar. . . 2) The close of the same or a subsequent reversal bar must break the walking trendline . . . 3) The other side of the range box is defined by a) the open of the last big bar in the direction of the trend or b) another reversal condition Your thoughts on these conditions to avoid "false" range box declarations is greatly appreciated. Regards, Whitmark
BILL 1st class explanations - thank you - makes good for missing the webinar. What made you choose the number 610 - thinking of other futures in this context? The "scalp reversal" - is it a secret? Charly
Tomorrow....May 9th at 3:30 Central time....I will be doing another Webinar. This webinar is called: Scalping Myths De-mystified. If you have been to some of the other Webinars....you don't need to PM me....just go back to the same place. If you haven't been to any of the Webinars....then PM me for more information. VSTscalper
Charly, I haven't been in this thread for awhile....obviously. I have been using the 610 tick chart for several years....just prefer it as a Trend chart. However....it can be some other number....you just want some kind of Separation between your Trend and Scalp charts. Some traders may find the 610 tick too slow....so....use a 400....or 200 or whatever. I use 2 charts only....on one monitor. I programmed the Scalp Reversal to help me....Predict Direction Change. It works very well....but it is not perfect....can get false signals now and then. I use it with my Triple Wave....works very well when using both together....get some great signals....and very fast. VSTscalper