I don't know anything about okra or fire ants so I can't answer your question but this concoction was specifically for tomatoes so I have not used it for anything else.
I did take 3 trades this morning. All winners. Small trades in MES. Many traders have small accounts so maybe this can help them see the possibilities out there. Not saying anything is guaranteed as a trader can lose all their money trading futures and these examples in no way are advice for trading. They are just for fun, entertainment, educational, and to possibly provoke deeper thinking. I again refer all readers to my post #1252. One trade this morning was a straight 2 point scalp. The second trade was a martingale long scalp. The third trade was partial averaging down and partial martingale. They were all small positions. Gross profit: the three trades rendered $138.75 i have several things going on..garden, water well pump went out, motorhome windshield glass claim, installing a washer/dryer in the Motor home. If I get time I may post a chart tonight showing these three trades with some comments. BUT right now I gotta get ready for that visit to Texas De Brazil Steakhouse…..adios amigos…for now.
Someone earlier mentioned "lamb chops" --- if they don't bring what you want just ask and they will cook an order for you. You will enjoy!!
Just left the Texas de Brazil. It was excelente! I have never ate so many different cuts of meat at one setting. Reminds me of eating in Argentina. I am stuffed. Hope I can crawl my carcass out of bed for trading tomorrow!
Here are todays trades and some thoughts as the session was unfolding. The chart is from a 24hr perspective chart and has the trades marked on it. I was gonna post a RTH's chart too of the same PA but it is gonna make me have too much stuff to type. Since I peck when typing it takes too long but suffice it to say the RTH's chart, while the same price action, will likely render some even different tactics to use. But that is ok, just more opportunities. That is the beauty, complexity, and simplicity of price action trading! I have a lot of irons in the fire. But enjoy or dislike this post! Whatever, ROFLMAO. Context 1: Remember the logical progression of the market is TR to BO to Channel to TR...and so forth. The BO and Channel together constitute the trend as bullish or bearish. These are phases of the market cycle. I am labeling these phases as Context #1 or (C#1 to abbreviate). THIS IS THE FIRST THING I LOOK FOR WHEN I am GETTING READY TO TRADE. Are we in a BO? In a channel? In a Trading Range? Does it appear that price is morphing into a new C#1? That is, is the BO turning into a channel sort of thing? Identifying the present C#1 (i.e. the phase of the cycle) is important as it determines the trading techniques I will use. BO's are traded one way, channels another way, and TR's are traded almost like channels but with some differences. Channels are tilted TR's and TR's are horizontal channels! So, I want to first identify what phase, what C#1 we are in. There are variations of the progression to the phases but in general we go from TR to BO to Channel Back to Range..etc. This repeats over and over again. One just has to learn how to see the patterns. Drawing boxes and lines help identify them. The morphing points (where one is changing into another) gets blurred at times, but sooner or later things clarify. The latter part of a channel becomes the first part of a TR and as time goes by it is easy to see that. Once I see a channel clearly becoming a TR I can then draw myself a TR box extending it back and extending it forward from the present price bar. Then I count the bars in the box. Once they reach 20 or so bars of sideways action then the previous Channel and previous prior BO before the channel have lost most of their influence on the immediate PA, in terms of the phase. In other words, once a range becomes evident then it is not a PB with a continuation, but it has evolved into a TR. It has 20 bars. At that point it can go on as a TR or it can BO of that trading range. Markets have inertia and tend to keep doing what they are doing so I trade the range using TR techniques. If it breaks out with a successful BO (what is successful?.. I have previously explained in other posts..read them), then I have to switch to BO techniques. Context #2: Next I look for context #2 (C#2). These are the price patterns found within the phase (i.e. the C#1) that price is presently in. So what are the different C#2"s that we find within the larger C#1? These are things like wedges...mini trends...nested TR's...DT's... DB's..triangles..flags...etc Look at the 24 hr chart. C#1 was a BO (bar 7:30). That quickly became a channel that only lasted a few bars (7:35 to 8:30). A channel identification starts with the first PB from a BO (bar 7:50). Once there is a PB then the channel lines can be drawn in. And at that point it becomes clear we were already in a channel and just didn't know it. (bars 7:30 to 8:30). So the latter part of the BO became the first part of the channel! By bar 7:50 or 7:55 it was easy to see the BO was flattening out there was clearly a channel. When I draw channel lines I look for at least 2 points on either side to draw the channel. Then I copy that channel line and paste it on the other side even if the other side only has one point. I will paste it at the end of the point. If that one bar has a big tail I will exclude at least part of the tail when pasting it. So by close of bar 7:50 I can draw the channel lines extending them forward and backwards. So we see that channel quickly morphed into some sideways PA in the form of a triangle. It could not yet be called a TR as we need 20 bars of sideways movement. Therefore, this triangle is a PA pattern that is found within a channel, which in turn is evolving into a range. So this triangle, at this point (9:10), is C#2 a price action pattern. And is starting within the present C#1 WHICH IS NO LONGER A BO C#1 BUT A CHANNEL C#1. Contexts keep changing. They all do. C#1, C#2, C#3 they evolve into a new C#1, C#2,C#3. It is important to understand this. The market is ever changing, never staying the same. Even all three contexts are never exactly the same. A wedge that is a C#2 is different from previous wedges in previous C#2's. That is why it is practically impossible to code price action. Only the brain can see these things and interpret them quickly and come to conclusions. No computer can do what the brain can do with PA. It simply cannot be matched. At least not with the present technology. IMO ROFLMAO That is exactly why I am a discretionary trader. To hell with a computer I got two eyeballs and a brain and I like the challenge. Context#3 (C#3) is the immediate context. It is, in this case the BO mode of a triangle. Bars 8:35 to 9:10 are largely overlapping back and forth ..price is probing and that probing is forming the outer limits and the Apex of the triangle. But, price cannot stay there as transactions will cease. Therefore, a triangle, when it's apex is formed, is in a BO mode. So, we are in a channel that is evolving into a range and at that transition point we have a triangle and the next thing on the agenda is there HAS to be some sort of a BO out of the apex of the triangle. I am not talking about a new C#1 BO phase starting but I am talking about a BO of a price pattern (C#2) that is found within a C#1. A symmetrical triangle has a 50/50 chance of BO in either direction, regardless of where the triangle is found in the larger C#1. And usually when it does have a BO (bars 9:30 and 9:35.) the BO attempt will fail and price goes back to test the Apex (bars 9:40 and 9:45). It is of great importance to take note what price action does AFTER that test. Now by bar 9:40 a TR had formed and we could draw the box. What happened after the apex test? Bars 9:55 and 10:00 not only broke south of the apex, but continued south through the now drawn in TR box. So we went from BO (beginning bar 7:30) to channel to range and then to an immediate BO of the TR. Think through this. It sounds complicated but once you get it logged into the ole brain you learn to see it quickly and to shift gears and react quickly grabbing another technique out of one's tool box. So, while the triangle's sideways pattern became a TR at bar 20 of the sideways moves we see that range lasted no time (which is unusual because of PA inertia) instead a successful BO south took place, with price stayed outside the range for more than 5 bars. In other words, a successful BO took place. So we are now in a new C#1 i.e. a BO C#1. Lets digress and look at my first trade (labeled T#1). It was a 2 point LONG. A one contract trade with entry on bar 9:00 and exit on bar 9:10. , for $10.00 profit. That play was betting that we were forming an apex of the sideways move that clearly started several bars back. The bet was if I traded long I get likely get out near the top of the forming triangle. The entry was also a PB that was getting near the EMA. Now for the background, remember that first C#1 which was a strong bull BO (bar 7:30) by bar 9:40 C#1 became a NEW C#1, i.e. a channel (by bar 7:50). That channel soon morphed into an established range (by bar 9:35 to 9:40). So, a range is traded using range trading techniques until there is a BO of the TR. In this case, there was an immediate move to a BO. That is normally NOT the scenario that takes place, however, I have to trade whatever the market gives me to trade. While 2 points is very little profit in MES think 5,10,15 contracts at 2 points. The process is the same with 1 contract or 20. My T#2 was a martingaled trade. I started going long in the upper portion of the ANTICIPATED soon to come range (remember range consists of 20 bars). While price had not reached range designation I could anticipate that coming up soon. Price is at the apex of the triangle and in the upper part of an anticipate range yet to come, so I began martingaling down, on each entry. So 1 contract, then 2, then 4. By then price was at bottom of an anticipated range and a range box could be drawn showing it to actually be a range LOL. Got that? So, price is in the bottom area of the range and I am martingaled in. I therefore waited for a push back up towards the middle or the top and exited on bar 9:45 with profit on all 7 contracts. At this point profit to date was $87.50 MY T#3 was a combination averaging down and martingaling. Lets review. Price goes from BO (bar 7:30) to channel to TR to a SUCCESSFUL BO south of the trading range. So what is the new C#1? It is a BO of the established TR! What is the new C#2? A trend south that started in the TR! What is the new C#3? Starting at bar 9:45 we get 3 bear bars and one doji with the last bear bar being the BO bar south of the range. And they are increasing in size. That is the new C#3! Remember context #3 is the immediate context. So, what happens usually after a BO? A PB. What happens when you got a BO that has a PB?Well that is when the channel phase starts! So by bar 10:20 which was the PB bar we see another new C#1 starts. Namely a channel. Bar 10:20 was the PB and the start of a bear channel. Anticipating that the BO (bars 10:00 through 10:15) would have a PB but also that the BO was deep enough that price would probably not make it back into the channel anytime soon I saw a chance to average down on a coming PB. Why did I anticipate the bar 10:20 PB? Look at bars 10:00, 10:05, 10:10, and 10:15. While they are part of the BO they all show buying buying pressure coming in by virtue of having tails on the bottom of each bar and the extent of the overlapping of the bars, indicating probing by both bears and bulls. BO south? yes, but also pressures from the bulls. That is what is causing the overlapping bars. A back and forth from both sides. Bears want the BO to continue. Bulls want to make it fail. That bar 10:20 (the bull PB bar) was the strongest effort by the bulls to make the BO fail. I reasoned I could add to my losing position and if I martingaled I could get out with a profit on an even smaller move back south than just averaging down. So I doubled up on that last entry. So, on bar 10:15 anticipating a PB near the close of the bar I go short 1c. On the next bar (10:20) I average down adding 1c. As price approaches the bottom of the range on this PB bar of 10:20 I martingale my previous E#2 of 1c by adding 2 more contracts. Then I wait for the anticipated break south exiting on bar 10:30 with a profit on all the contracts. I stop trading to get ready to go to Texas de Brazil. Lessons to be learned here: 1) The three contexts C#1, C#2, C#3 what they are, and how to "see" them in PA. 2) The continual changing of the above three contexts into new contexts. C#1 morphs into a new C#1. Context #2 morphs into a NEW C#2, and context #3 morphs into a NEW C#3. 3) The market is fluid therefore I as a trader have to be fluid. 4) The nature of the market is uncertainty. I trade in a fog. The best I can do is see "possibilities", gauge the probability of those possibilities becoming a reality, thus anticipating and placing a bet. In this sense the market is, yes, a gamble. Howbeit it can be a calculated gamble. When wrong I have to gamble the other way. Usually doubled up to get back my loss and get back in profit. In other words, I must be "Jack be nimble...Jack be quick...Jack jump over the candlestick. The rhyme is related to the famous English pirate "Black Jack" who lived in the late 16th century, and ALWAYS succeeded to ESCAPE from the authorities. See any relation to trading here? The authorities are the institutions. We as traders have to pirate our wealth from THEM. But we also have to elude them and beat them at their own game. The seas are uncertain and full of dangers. These have to be mitigated and navigated. Thus are the markets. That sea of uncertainty, full of dangers, but also wealth abounding opportunities IF we can learn to "Carpe Diemize." 5) Learn to not only identify the three context but learn to anticipate the coming NEW three contexts. 6) Have techniques or tactics to deploy for each context. They are many. Like tools in a tool box. The right tool for the right occasion. 7) Learn to not be greedy but grab what the market gives you, or what you have managed to pirate out of the market, then turn the ship and run like a scalded duck. You can always go back on another pirating adventure. Your goal is like Black Jack...grab and elude the authorities. Happy pirating!
How I love this paragraph!! This describes scalping markets so well. It illustrates that we little guys are having an adventure with our single screen desk tops taking a little money from the brightest, the most pedigreed, most capitalized, best equipped, and I am quite sure the most cocky traders on the planet. We retailers just don't belong and they love to "Take Our Lunch Money" on the playground. We can't compete in the NBA, MLB, PGA, or the NFL but we have the opportunity to play against the best in this arena and they don't like it. Many on ET say trading should be boring -- that they just make money. I am not sure I get that. Sure, I have my boring investments that just sit there for the long term but that is not trading.
The act of, the machinations of trading do become boring. The same setups, the same patterns, the same clicking, over and over and over again. Even @volpri explicitly states in his writings the over and over and over part. However that does not mean trading is boring. Each day has fresh inputs, be it news, volatility, ranges, the order of activity, exogenous happenings including trading infrastructure and personal distraction, or some combination of all of the above, plus some! This paragraph actually explains one of the reasons I choose to be a trader!! Of course, there is always something to learn. Everyday. And then there is a rabbit hole if one is so inclined of tweaking or making your trades "better", whatever that means. But unless you discovered a new platform feature, a new instrument to trade, or are testing/using a new strategy, the act of trading, looking for the those things that occur over and over and over and then making a few mouse clicks is very boring.
My post above #1467 started with the words “here are todays trades….” That is wrong, they are yesterdays trades i.e. 8-11. I started typing the thing up last night and didn’t finish until today 8-12. Just though I would clarify this.