Day-Trading 2.0 for small traders

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History has a way of repeating itself :D
 
Quote from jjrvat:

Dr. N

Thanks for your comments.

Rn86,

I would like to thank you for you comments too but particularly because posting your chart. I always try to improve my charts (reducing at the max distortions in my screen) and I must confess that your very simple but powerful idea of plotting the HMA (or any other) as a paint bar indicator is brilliant and it’s something worth to add to my charts. I have been trying to do this for a while programming functions that plot arrows and hiding the HMA without nice visual results. Something the answer is in front of us and like always we try complicate things (like basic price analysis). Thanks.

Specterx

Thanks for your comments especially for pointing out one of the most important issues in trading that hasn’t been addressed yet: psychological demands (I’ll try to elaborate something later).
I do agree with your last post 100%. In my opinion there is big difference between simple and easy. Understanding basic price analysis and developing a consistent trading method is and must be simple but trading involves a lot more than that. The definitions in the dictionary provide the best arguments on this:

Definitions (American Heritage Dictionary)

Simple: Not involved or complicated
Easy: Free from worry, anxiety, trouble, or pain

Is trading simple or/and easy or not?

jjrvat
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I may be repeating myself...

It is simple to lift a weight.

It is relatively easy to lift 10 lbs.

Many can lift 50 lbs.

Not too many can lift 500 lbs.

Lifting is simple, ease is a function of your strength and the weight.
 
WHO IS IN CONTROL: BUYERS OR SELLERS?

I asked jjrvat for permission to discuss CONTROL in his thread.

I developed a simple way to determine if the buyers or sellers are in control.

I use the current and previous candle's midpoints.

If the price is ABOVE both midpoints then the BUYERS are in control.

If the price is BELOW both midpoints then the SELLERS are in control.

If the price is BETWEEIN both midpoints then NO ONE is in control.

The previous midpoint has more weight than the current midpoint.

To prove this, just plot the previous midpoint on your chart and see what would have if you traded in the direction of the candle color at the midpoint. More times than not you win.

So if you add CONTROL after determining the MACRO DIRECTION, you'll see just how profitable this tool is.

CONTROL works on any interval.

In the TradeStation charts I posted previously, the top row of dots indicate who is in control.

In the MT4 chart below, notice I have my DIGITAL COMPASS displaying the previous midpoint.

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In the MT4 chart below, the previous midpoints are the MAGENTA dots, and the current midpoints are the AQUA dots.

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Hey TRO, outstanding work as always!!

i have been more than fortunate with scalping but the same not to be true with automated trading where i lose all of mine hard earned scalping profits but in any rate this is the setup i use which now based on jirvat’s concept, zig zag fib (programmed as courtesy by Dimicron) and simple Bollinger band on the bottom....is there anything iam missing in your opinion that could make this setup more efficient?
 

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Quote from Dr.N:

Hey TRO, outstanding work as always!!

i have been more than fortunate with scalping but the same not to be true with automated trading where i lose all of mine hard earned scalping profits but in any rate this is the setup i use which now based on jirvat’s concept, zig zag fib (programmed as courtesy by Dimicron) and simple Bollinger band on the bottom....is there anything iam missing in your opinion that could make this setup more efficient?
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I can't intelligently comment on it unless you post your entry/exit criteria.
 
I have been following this thread along with AHG thread..best on ET

1. HMA's - whats your seting. is the HMA based on close of the bar.

2. HMA 25 is it best to trade AAPL,NQ,ES and FESX

3. I also trying to trade FESX which starts at 1 a.m central time in US. will be trading for 2 hours. what are other indexes/futures which i can trade during this time.

is there a site like econoday where i can see what news are coming out from germany and europe.







Quote from amitman:

Here's another example from today trading RIMM
7 trades 7 winners 25-35 cent each.
Notice that if u see a trade i didn't enter it's because two possible reasons:
1) the HMA25 wasn't aligned with the slow wma (no LH, LL)
2) the price didn't get 2 cents lower then the trigger bar (look at my previous post to underastand).

there you go,
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HI RN,

nice chart. is it drawn in QT or tradestation. how do you mark your HH and LL. thanks

Quote from Rn86:

Very useful thread, keep it up.

Here is ER2 500 volume bars chart with simple modification – hull moving average as a paint bar indicator. Price above hull MA – blue bar, below – red. Dotted line is a 240 WMA with a slope / red down/blue up/ as it was explained previously in this thread used for trend definition. Cyan and red dots are pivot high /strength 5/ and pivot low /strength 5/ for visual aid.

I don’t use floor pivots/res/sup, so basically the rules for short entry are:
240 WMA red and above the market, lower low and lower high completed, first red bar / yellow arrow/


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Im in tokyo here , hence the name and so Europe is a good fit for me too. Have you considered FTSE and short stirling on LIFFE? If your already trading on Eurex then the DAX is good. You just have to watch it though, cause it bites!!! It all depends on the individual but I find that Eurostoxx can be a bit too deep, especially if you are a small lot trader.
The CAC (french division of Liffe) is also good, however my broker doesnt offer it.
 
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