The Day Trading Thread

Discussion in 'Index Futures' started by MarkBrown, Jun 4, 2019.

  1. Thanks for the reply!

    I sustain on low-risk options selling. To stay active and stay in-tune with the market learning short-term T.A. which is very exciting for me, since I never did that before.

    Honestly, at times Brooks is very hard to follow.... It feels great to catch a trend (big move) on a 5-minute chart.

    Specifically I am struggling to differentiate:
    1. Fake or real breakout;
    2. Trend Reversal or a pullback;
    3. Anticipate Whipsaw or start of a trend.

    Let me share few things that I have tried so-far onto my day-trading to weed out outliers but still failing to achieve the desired consistency.

    1. Bollinger-Keltner Squeeze from Carter's "Mastering the Trade" book;
    2. Vertical Horizontal Filter;
    3. ADX > 30.

    In simple words, wish to have a good filter to judge probabilities of trades at Entry. Anyone? Any suggestion?
     
    #341     Jun 13, 2019
  2. Specifically I am struggling to differentiate:

    1. Fake or real breakout; That is because you still haven't figured out how to read price action, S/R + indicators properly. See below chart.

    2. Trend Reversal or a pullback; That is because you still haven't figured out how to read price action, use your time frames + indicators properly.

    3. Anticipate Whipsaw or start of a trend. That is because you still haven't figured out how to read price action, S/R + indicators properly

    Unless you are a scalper with fast fingers, such fake moves happen pretty much everyday which will drain your account slowly if you can't find a way to deal with it.

    Untitled.png
     
    #342     Jun 14, 2019
    MarkBrown and ChimpTrader like this.
  3. Seaweed

    Seaweed

    Can you make any comments about that dashed red line? It seems to be much different than the yellow, green and blue lines which appear more to be some sort of a moving average.

    Also, if you don't mind me asking, you mentioned before that you have some indicators and other stuff on your charts as well. Do you indicators just rely on previous price? Is volume a consideration for you? Do you look at order depth?
     
    #343     Jun 14, 2019
  4. I only use indicators to confirm price action. I don't use volume and order depth to read price movements. Volume can be used to confirm price action especially during those exhaustion moves, but sometimes it's quite misleading.

    The bottom line is that I hate to add stuff to my charts that aren't reliable since I've only two eyes and one brain for observation. Anything that is misleading or is less reliable than 90%, I discard them into garbage can. Also, I dislike using two or more different indicators confirming the same thing because that will become overloaded since I'm dealing with multiple time frames (like I said, I only have two eyes and one brain). Otherwise, price action from macro to micro time frames are efficient enough for me to identify trending, non-trending, intraday reversal and etc.....

    Well, I'm off for dinner with a couple of fellows. Being busy scalping during last few hours since ES had a lot of activities tonight. Hope you got some too.
     
    #344     Jun 14, 2019
    Seaweed likes this.
  5. volpri

    volpri

    Dinner?
     
    #345     Jun 14, 2019
  6. MarkBrown

    MarkBrown

    Lately I have been revisiting very old trading techniques that use price only action. I have been trading using point and figure and the market profile - specifically the point of control. It has been very interesting to say the least.

    Years ago I was all into pivot points and actually had a good mechanical model that preformed well for the period. I also have been looking at the Jackson zones and and the Gould zones.
     
    #346     Jul 26, 2019
    SimpleMeLike likes this.
  7. vinc

    vinc

    man, you just came to witness a religious ceremony..do you really expect a god's revelation??? :)
    yeah I know you don't..
     
    #347     Jul 26, 2019
  8. Hello MarkBrown,

    Good comment.

    I have a question that is circling in my head regarding your post here.

    Question:

    1. Why do you research multiple trading styles/techniques/strategies? Why not just stick to one trading style or strategy and make money for years to come?

    I am just trying to understand the purpose of constantly study trading techniques. Why not just stick to what works and makes alot of money?

    Thank you
     
    #348     Jul 27, 2019
  9. MarkBrown

    MarkBrown

    My self and another guy made five mm in two days of trading the sp - so I am not money motivated, I am research motivated. The money is a way to keep score but it's not why I trade, this is a discovery process that fascinates me. I could be a specialist trader of anything I wanted doing it anyway I want, but I would never have obtained that ability without massive losses.

    It's like working out you get back a fraction of what you put into it. It doesn't happen overnight and you need to do it because it's healthy for you not because it makes you look good. If you trade for money I pity those people because they are missing the magical mystery tour that is trading.
     
    #349     Jul 27, 2019
    jl1575 and SimpleMeLike like this.
  10. destriero

    destriero

    @MarkBrown, serious question... you claim to have made $5MM in two days yet you likve in a $250K crib. That does not compute.
     
    #350     Jul 27, 2019
    Seaweed likes this.