market internals? 
AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
- Start date
- Status
To All:
Here is a little tip on extending your winners.
Remember, in this method, you are always with the trend, unless it changes, odds are always in your favor. Speaking of odds, this is precisely why I trade this way.
When you are a contrarian, calling tops and bottoms, don't you feel praying more than trading most of the time ? Think about it, you are hoping the market changes drastically just for you! A little naive don't you think? When the market is ready to turn, it will lead you and even lay down hints in the process.
Once you digest the logic behind this your confidence will increase exponentially.
Anek
Here is a little tip on extending your winners.
Remember, in this method, you are always with the trend, unless it changes, odds are always in your favor. Speaking of odds, this is precisely why I trade this way.
When you are a contrarian, calling tops and bottoms, don't you feel praying more than trading most of the time ? Think about it, you are hoping the market changes drastically just for you! A little naive don't you think? When the market is ready to turn, it will lead you and even lay down hints in the process.
Once you digest the logic behind this your confidence will increase exponentially.
Anek
Some US markets have statistics on the market internal operations such as TICK, TRIN, advances, declines. Forex, for example, does not have these market internals.Quote from screenstruck:
market internals?
Keep at it GaryN. +3 is always than -3 and much better than -33. Shorts moves twice as fast as longs generally, so you are exposed to shorter periods of anxiety
Not all of John Carter's stuff are tiresome and for newbies. For example his scalper indicator (checking for a trigger bar that makes a lower high, and no more higher highs and closes below the trigger) is an extension of what Anekdoten has described here. Do not trade on this signal alone because it is lagging and paints the bar or showme after about 3 bars, look for other filters for confirmation (eg Anekdoten may say 'price action') Here is a picture of a very lagging scalper signal for the ES today:
Thank you to TraderLu for posting this on traderslaboratory and Anekdoten for starting this thread.
Attached please find the Tradestation indicators used in the sample Tmarket suggests.
I have zero or very little experience with this so can't comment on the pros or cons of such system.
However, if you got the skills this can easily be backtested in automation.
Comments welcome of course.
Anek
I have zero or very little experience with this so can't comment on the pros or cons of such system.
However, if you got the skills this can easily be backtested in automation.
Comments welcome of course.
Anek
Hey guys! I just wanted to start out by saying to Anekdote that this journal you've started is fantastic! This is what trading is all about. The conclusions you have come to and this system you have been developing falls right into the same things that I have determined: price action will give you the answers. I am in efforts of refining my trading style to the same guidelines you have been teaching here. I have a few questions though, and pardon if they make me look amateur.
1) I daytrade equities instead of futures. Is there a reason that you choose futures over equities? If so what is that reason? And if daytrading equities instead of futures contracts is an ok option to stick to, will this type of trading system still qualify?
2) Trading these equities I use multiple time frames for price TA, but my base chart runs in 5 minute increments. I noticed that you use Tick instead. I have no experience in that, but I realize this would make our charts quite a bit different visually. So I guess the question falls somewhere under these lines: Are you using Tick because you trade futures instead of equities, and is the fact that I am using incremental candles instead of tick going to cause this this type of trading system to function improperly.
Phew! Hope that isn't too confusing for you guys to read
Regards.
1) I daytrade equities instead of futures. Is there a reason that you choose futures over equities? If so what is that reason? And if daytrading equities instead of futures contracts is an ok option to stick to, will this type of trading system still qualify?
2) Trading these equities I use multiple time frames for price TA, but my base chart runs in 5 minute increments. I noticed that you use Tick instead. I have no experience in that, but I realize this would make our charts quite a bit different visually. So I guess the question falls somewhere under these lines: Are you using Tick because you trade futures instead of equities, and is the fact that I am using incremental candles instead of tick going to cause this this type of trading system to function improperly.
Phew! Hope that isn't too confusing for you guys to read
Regards.
Cx,
I started in equities. However, futures are better, for me anyway, for countless reasons.
- Better liquidity
- Less games (electronic)
- Way more leverage
- Around the clock (kind of)
- No research involved
- Less slippage
- No short uptick rule
- Can daytrade without 25k
- Easier taxation
...etc, etc, etc. I highly suggest you search around the forums or elsewhere for the vast number of reasons.
As far as charts, tick and volume bars, you need to be able to kill the possible longbars in time based charts that hide what could be important to observe; at least as a scalper.
Hope it helps.
Anek
I started in equities. However, futures are better, for me anyway, for countless reasons.
- Better liquidity
- Less games (electronic)
- Way more leverage
- Around the clock (kind of)
- No research involved
- Less slippage
- No short uptick rule
- Can daytrade without 25k
- Easier taxation
...etc, etc, etc. I highly suggest you search around the forums or elsewhere for the vast number of reasons.
As far as charts, tick and volume bars, you need to be able to kill the possible longbars in time based charts that hide what could be important to observe; at least as a scalper.
Hope it helps.
Anek
I was expecting strong resistence at 1500 but it was a little late in coming in. Went another 5 points beyond my exit. Oh well. I have started watching volume charts alongside my regular charts and I can see some interesting differences. With overnite data included you could make a pretty good case for having gone long right near the open.
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1560285">
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1560285">
- Status