Quote from jfut:
Hi John,
Excellent insights into your V trading strategy and thank you very much for posting some details.
I was wondering if you wouldn't mind answering some of my questions on the strategy??:
a) Do you always use an hourly s/r over a 5min chart for the V strat or would you, as an example, put a 4hour s/r over a 5min chart also??
b) There are 3 lines at the top on your example chart that you posted at 120.784, 120.651 and 120.518. I was wondering what they are exactly??
Your reply would be much appreciated.
Thanks
J
jfut,
a) Keep in mind that the chart I showed is one of my basic charts. I look at others. Yes, I always have some type of hourly S/R over a 5 min chart. This is key in my opinion. I don't look at a 4 hour S/R.
b) The three lines can be thought of as a variation of a daily pivot.
I probably could only trade off of the chart I showed and not look at anything else, but here is what I look at currently. It varies from time to time, i.e. sometimes I only look at one of the below, in particular I had a 3 month run with Market Profile only, taking a small 2200 USD account up over 10K. I did it as a form of self documentation. Going back to a small account prevented me from doing some of my other sizing techniques that are only possible with an account size between 10000 and 30000 USD.
1) The chart I posted.
2) A 1 min chart with a special Holy Grail pivot that came to me in a waking dream. Yes, really. It works remarkably well.
3) A 4 min chart with various specialized neural network indicators, primarily variations of Ehler's stuff. Remarkable results with taking spreads of his cycle stuff.
4) A 15 min chart with Al Larson's special wave structure.
5) Market Profile.
Of the above, the 1 min and the 4 min get me in my trades. The 1 min gets me out as well as S/R targets derived from MP and the 15 min.
Everything remaining is simply confirmation and S/R. MP is quite remarkable for S/R.
Regards,
John
