DayTrade Signals with Harris Tech

Status
Not open for further replies.
Quote from tatsimon:

"Trend, pullback, entry, bam. All there is to it."

I tried this strategy didnt find it as easy as you put it. Maybe you can help.

How do you define a trend/pullback and its strenght?
How do you know the trend wont change?



thanks
More...

I don't know exactly what he is doing, but it looks like a pretty simple trend determination, maybe higher lows and higher high, then wait for a pullback. Notice that he only seems to trade in the morning when his markets are active.
 
The difficulty is guaging the pullbacks in my opinion. Or you get stopped out or you miss the trade, or there is a trend change. Three factors that one must control.
 
Sorrry guys, I got busy with trading and then left near close.

I will answer the posts in a bit, for the mean time I am attaching my EC chart for today. Just like AAA said, Trend, Pullback, Entry and Bam. However timing and right areas are important very much but I am showing an easy clear road ahead of you that this should be the approach. Fine tunning and all would take time but this approach is the basics of my system and it surly works!
 

Attachments

Many traders try to pick tops and bottoms of market. For example when markets are going up they will try to speculate that it has reached its top and they counter the move and for down trending markets they will look for bottoms. My theory with trading these markets is, markets have no temporary pre-determined tops or bottoms, as long as trend is there and the path is clear its uni-directional, so why not to take advantage of those uni-directional moves and keep on making money without worrying when the unwanted obstacle is going to come upfront and haults-reverses the current move? Ofcourse if it haults-reverse, we will follow it other way around!

While I am sitting here in Pakistan, I can put it in this way that the whole world is trying to copy Americans these days and follow its trend because America is on a trend, and we just have to follow the trend- We all know what happened to Afghanistan if u know what I mean lol! Trend is the ONLY friend!


Same is for trading! Its not as difficult as it may seems like. Apply day to day examples and psychological wise you would be prepared for trading in no time! Trend is the ONLY friend! Period!
 
Quote from AAAintheBeltway:

I don't know exactly what he is doing, but it looks like a pretty simple trend determination, maybe higher lows and higher high, then wait for a pullback. Notice that he only seems to trade in the morning when his markets are active.
More...


Well AAA, that’s about right. But like you said thats just the basics. My trend watch stuff is more based on refined studies of various methods, which I have changed it into more advance form by incorporating various timeframes into one. It also takes account the higher high or lower low concepts as well as number of positive ticks + momentum/' volume and all mixed with tlb stuff all packaged into one visual indicator.

Well I usually try to post my entry signals early morning and be done for the day but that is for ET ppl, I do trade almost all day long until i get bored and tired. Its true that morning sessions are full of volume and overall trendy then rest of the day.
 
Quote from tatsimon:

The difficulty is guaging the pullbacks in my opinion. Or you get stopped out or you miss the trade, or there is a trend change. Three factors that one must control.
More...

Well said. It surly involves loads of reserch, patience and art to do that!
 
Something to remember and what I posted long time back.
:):):)

Quote from harris_tech:

Okay...


So lets talk a little about Forex markets and what I see from my eyes based on my methods and charts for the position trading perspective. I dont position trade, but I watch for it, it helps me know the overall picture.


EURUSD: The overall Trend is DOWN, with a pullback of 50-70 ticks is expected before it dives again for another 100-150 ticks within next few days. I wont LONG it for no reason and wont even call it that it has bottomed. Its a downtrend and it can keep on going lower and lower, ofcourse with pullbacks. If it breaks 1.2150, that would become a no trade Zone and if it breaks 1.2200 it becomes a LONg to be entered aftrer a pullback. At the movment everything is saying that we can see more downfall on it in days to come. If trend continues to go down, We can see levels of 1.1400 in few weeks. Note that trend on EUR has remained HIGH for over 3 years on weekly charts and its the first time in last 3 years that trend has broken into downward, which can result is a real downfall on EUR and chances are we can see 1:1 on EURUSD pair in few months time.


USDJPY : Okay the daily picture is favouring LONGS. We will see a little bit of pullbacks of 40-50 ticks and if the trend remains intact it can fly up for another couple of hundred ticks. Its all looking very strong, however i must say a pullback is due. It needs to break 112.40 for us to start thinking of taking shorts. Weekly picture is also very stong but is showing it has hit its first initial targets and is ready for another step up but that would only be possible after a pullback 112.65 levels for another ride up for 500 ticks or so more.

Note : Its just a matter of what time frame you are watching. Intraday, Ticks, daily or weekly. If weekly is saying LONGS doesnt mean intraday has to say the same. I just use the daily and weekly timeframes for the relatiove direction. Ofourse I am a day trader and I remain a daytrader.


Cheers
More...
 
Todays Live calls :)


Only few trades today, after early morning winners i spent most of the time trading my ownself and writing few posts here related to trading concepts and all.


BP: 1 trade, 1 winner, 10 ticks profit.

Notes: 1 trade, 1 winner, 5 ticks profit.

Bonds: 1 trade, 1 winner, 4 ticks profit.
 
Hi Harris,

I just wondering if you could elaborate a little on how you determine your support and resistance levels. I know you use fibs to find these points. what I am wondering is, how you go about calculating them. Are you using the last swing points off that same chart, or are you getting these values off of a different time frame. Also curious about how you determine which fib values to use(38,50,62, etc). Forgive me if this all sounds a little ignorant, as I have not previously incorporated fibonacci in my trading.

Thanks

PS. Good Journal, keep those charts coming.
 
I would like more ppl to come forward and participate in this thread. I respect all sorts of questions as long as they related to improving trading and I am eager to help.


I will be sleeping now as its late. Will reply to the posts during trading session now.

For now, Bonds and Notes still looking very good and strong, so opt for longs ( but that can be changed anytime as I would be away and wont be monitoring). For example Bonds needs 22/32 to be broken and closed under it to be called as SHORT biased as I type it here.

BP is a lil choppy and at no trade zone with SHORT bias, EC for sure is weak.

JY and AD both look weak!



All the best. Seee ya !
 
Status
Not open for further replies.
Back
Top