02-14-2012 1st trade off 101.50 area resistance +36
Stop loss was 101.71
Stop loss was 101.71
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Day Trading Crude without indicators.
- Thread starter mfbreakout
- Start date
I will try to answer this post here so i do not to have to answer each message individually. Please keep asking questions by Private messaging tab. I collect them and try to answer them collectively.
"Hello mfbreakout,
Please disregard the negative posts in your thread and keep posting your trades. I am the fervent follower of your thread, and I learn new things everyday through your trades and comments about the trades.
The information you provide are very valuable both on the side of psychological aspect and trading.
I have few questions about Mark Fisher method that I wonder if you can help clarify
1.) The amount of time that Price needs to stay at or above a level for confirmation
Ex: Price needs to stay at or above 100.00 for 10 minutes before we have an A-up. If I use 10 min charts, and if the bar closes above 100.00, even if Price spends most of the time in that 10 min below 100.00, does it count as a confirmation?
2.) Do you do the #Line manually or using a software?
Thanks and best regards"
R) Time filter is 1/2 of OR. So, if one is using 10 minutes, price has to stay above A up level for 5 minutes i.e is 1/2 of 10 minutes. I like to see price does not touch A up level during time filter . So, if A up level is 100, I want 5 , 1 minutes bars to stay above 100.
There are several layers to ACD method. One has to incorporate all those layers to trade ACD. Just A up or A down is not worth much as Mark talks about in the book and the videos i posted.
My OR are drawn by a simple code. I use TOS. One can purchase all the codes for $65 from www.thinkscripter.com . This is only for Think or Swim platform.
Ninja traders users can get free codes from www.bigmiketrading.com and look for fattails posts. fattails has a host of free features for Ninja trader and they are excellent. I am getting used to Ninjatrader so that i can use some of his stuff.
"Hello mfbreakout,
Please disregard the negative posts in your thread and keep posting your trades. I am the fervent follower of your thread, and I learn new things everyday through your trades and comments about the trades.
The information you provide are very valuable both on the side of psychological aspect and trading.
I have few questions about Mark Fisher method that I wonder if you can help clarify
1.) The amount of time that Price needs to stay at or above a level for confirmation
Ex: Price needs to stay at or above 100.00 for 10 minutes before we have an A-up. If I use 10 min charts, and if the bar closes above 100.00, even if Price spends most of the time in that 10 min below 100.00, does it count as a confirmation?
2.) Do you do the #Line manually or using a software?
Thanks and best regards"
R) Time filter is 1/2 of OR. So, if one is using 10 minutes, price has to stay above A up level for 5 minutes i.e is 1/2 of 10 minutes. I like to see price does not touch A up level during time filter . So, if A up level is 100, I want 5 , 1 minutes bars to stay above 100.
There are several layers to ACD method. One has to incorporate all those layers to trade ACD. Just A up or A down is not worth much as Mark talks about in the book and the videos i posted.
My OR are drawn by a simple code. I use TOS. One can purchase all the codes for $65 from www.thinkscripter.com . This is only for Think or Swim platform.
Ninja traders users can get free codes from www.bigmiketrading.com and look for fattails posts. fattails has a host of free features for Ninja trader and they are excellent. I am getting used to Ninjatrader so that i can use some of his stuff.
This is in response to couple of PM i got.
02-14-2012 My P&L screen shot from this morning. Lets keep things in perspective and do not get carried away. I am just trying to make a living and have neither skill set or capital to make a killing in the market.
One bad trade can take away a week's of gains. That's what i try to focus.
02-14-2012 My P&L screen shot from this morning. Lets keep things in perspective and do not get carried away. I am just trying to make a living and have neither skill set or capital to make a killing in the market.
One bad trade can take away a week's of gains. That's what i try to focus.
Attachments
02-14-2012 failed A up set up trade. +34.
Traders who use smaller time frame like 5 minutes etc.. got a breakout from 101.20 area to 101.84. I missed that trade as it is difficult to be a fader and breakout trader at the same time frame.
One can do all right if a trader does not try to be both on most of the trades. Even though my screen name is "mfbreakout", most of my trades are fade the move trades. However, i try not to fade a trend day.
Traders who use smaller time frame like 5 minutes etc.. got a breakout from 101.20 area to 101.84. I missed that trade as it is difficult to be a fader and breakout trader at the same time frame.
One can do all right if a trader does not try to be both on most of the trades. Even though my screen name is "mfbreakout", most of my trades are fade the move trades. However, i try not to fade a trend day.