Develop and follow a written trading plan

[volpri]

Are you trying to tell me you had and took 12 trading signals in a 45 minute time period using that chart alone???

No. I get my main signal from the 5 minute chart and entry signal from a 1 minute chart that is correlated with the 5 min. I only showed the 5 min so you could see the time periods over which those trades occurred.

On my laptop screen I have a 5 min chart and a 1 min chart that I am looking at.

Both charts have the same 2 MA’s on them. Maybe that will clarify it.

 

[wrbtrader]

...Traveling and trading on a laptop I have no idea about. When I did an analysis of this with my own trading system, I've determined that there is no way you can go mobile and trade effectively. If you were a swing trader it would be possible. Buy from what you've been posting you are more like a scalper. Again have absolutely no idea how you can trade on just a laptop but kudos!

You could do some research on mobile day trading...there's many ways to do such and I really do not have the time to explain any in-depth details beyond general info.

In my own research, how and where you're connected along with your cell phone plan is a big part of the equation. I've actually seen someone with my own two eyes do mobile day trading. We recentyly had a meeting at a public library and sat at a desk with our backs to the wall.

The guy had a large Targus Laptop (backpack). He pulled out his widescreen laptop and then pulled out a small widescreen monitor with plug-ins & adapters & antena and stuff that connects to his cell phone. The cell phone was used as his personal WiFi hotspot...laptop and the extra monitor he brought were plugged into the available outlets on the desk.

It took him about 5 minutes to setup everything. He pulled up his real-time charts on the widescreen monitor and his laptop only had the broker trade execution platform. There was no connection issues and I didn't see any stall (stuck) live streaming data and there were no disconnections although there was nothing to compare it with and he only traded for about 15 minutes.

Also, he did have some kind'uv live ping counter that showed up on the laptop screen...bottom left corner. I asked about that and he said its the ping to his broker server that he monitors. He had it setup to make a beeping sound and the counter to change color if the connection becomes bad although I don't know what "bad" is.

He then made 3 trades (1 profitable and 2 losers but overall a big profitable day) in about 15 minutes but then just talked about the markets the rest of the remaining 2 hours before calling it quits. I then thanked him for the opportunity to see real mobile day trading because before that...I've only seen messages here at ET by people saying they regularly do such type of trading...a few saying they do mobile day trading from a coffee shop.

Simply, the technology is there for us traders to be mobile. The real issue is if you have access to the resources, funds & location for doing such.

Yet, I do realize some people's perception of mobile day trading is trying to do such in a park, at a doctor's appointment or Wi-Fi hotspot at a public area that they have no control on the server connection of the hotspot.

Thus, it works from the way he had it setup at a public library...in comfortable seats. Yeah, the guy didn't make +100 trades in those 15 minutes like some scalper and he wasn't using some kind'uv automation. Yet, I was still very impress by the technology of everything he was doing.

He made a few hundred bucks on a few trades...mobile day trading.

P.S. He did say he had two portable power units that he brings along when he & family are traveling for whatever reasons. One of the units has solar compacity.

wrbtrader

 

[jinxu]

You could do some research on mobile day trading...there's many ways to do such and I really do not have the time to explain any in-depth details beyond general info.

In my own research, how and where you're connected along with your cell phone plan is a big part of the equation. I've actually seen someone with my own two eyes do mobile day trading. We recentyly had a meeting at a public library and sat at a desk with our backs to the wall.

The guy had a large Targus Laptop (backpack). He pulled out his widescreen laptop and then pulled out a small widescreen monitor with plug-ins & adapters & antena and stuff that connects to his cell phone. The cell phone was used as his personal WiFi hotspot...laptop and the extra monitor he brought were plugged into the available outlets on the desk.

I know the technology behind it. I still wouldn't do it unless it was necessary. Personally, I use a 40" monitor. 15" is too small to me. And honestly it looks kind of ridiculous in public.

Your friend's setup sounds complicated. You mentioned cell phone as if this was a long time ago. Today, you can buy a portable monitor that just connects to your usb. No adapter needed. And power comes from the USB.

 

[syswizard]

re: "he cell phone was used as his personal WiFi hotspot."
This is good as long as you are not trading from Montana or other remote location... LOL !!

 

[volpri]

I know the technology behind it. I still wouldn't do it unless it was necessary. Personally, I use a 40" monitor. 15" is too small to me. And honestly it looks kind of ridiculous in public.

Your friend's setup sounds complicated. You mentioned cell phone as if this was a long time ago. Today, you can buy a portable monitor that just connects to your usb. No adapter needed. And power comes from the USB.

Roflmao to me a 40” moniter looks ridiculous. But to each his own. Whatever floats our boats and doesn’t sink us!

I just use an internet wireless hotspot (
Little box about 2.5” x 4” that runs off its own battery. Just flip the switch on turn on laptop and connect up. No wires. Simple to use. Works off password. I also have power inverter that hooks to my car or motorhome while traveling and can hook both the hotspot and the laptop to it thus not having to use the batteries of each one.

 

[syswizard]

No. I get my main signal from the 5 minute chart and entry signal from a 1 minute chart that is correlated with the 5 min.
Both charts have the same 2 MA’s on them. Maybe that will clarify it.

1 minute bars...now that makes sense.
Also, why not use tick bars that automatically adjust to market activity ?
1 minute bars at 9:30 am are much different than 1 minute bars at noon.

 

[wrbtrader]

I know the technology behind it. I still wouldn't do it unless it was necessary. Personally, I use a 40" monitor. 15" is too small to me. And honestly it looks kind of ridiculous in public.

Your friend's setup sounds complicated. You mentioned cell phone as if this was a long time ago. Today, you can buy a portable monitor that just connects to your usb. No adapter needed. And power comes from the USB.

Took him only 5mins to setup and ready to go after pulling it out of a large backpack and setting up at a public library that I selected (he's never used before)...that's complicated to you ?

By the way, I saw about 20 other people at those desks...every one of them had a laptop although most looked like they were doing homework or just surfing the internet. There were even nearby comforatble sofa chairs (about 8 of them)...each with a iPad connected to the sofa chair. Mostly kids were using them.

Complicated would occur if he was not using the personal hotspot of his cell phone. Thus, his mobile choice would then be limited to the public library WiFi...not his own.
...
Also, I can't imagine trying to carry around a 40 inch monitor in a backpack...wouldn't that look kind'uv odd in a public library ???

What backpack can carry a 40 inch monitor...maybe a special size briefcase ??? I'm just curious.

 

[jinxu]

Also, I can't imagine trying to carry around a 40 inch monitor in a backpack...wouldn't that look kind'uv odd in a public library ???

What backpack can carry a 40 inch monitor...maybe a special size briefcase ??? I'm just curious.

Oh none. I use the 40" in monitor at home. I do have a laptop and a portable monitor to that was intended for mobile but have never used it. There are a couple of technical issue I see with being mobile.

1. Battery Life. (Laptop has max 2-3 hrs battery life)
2. Bathroom Breaks. (I don't trust strangers. Always the danger of someone going to steal it)

Personally, I'm waiting for battery technology to catch up. The technology for fast charging and long life battery is there. But still in the research stage. And I'm waiting for a some type of paper thin LED/OLEd monitor that you can fold up or can connect together. Last we need to upgrade to 5G. Then I will go Mobile.

Note. Library Wi-Fi is surprising fast. I was shocked when I went to a local library and used their WiFi.

 

[volpri]

1 minute bars...now that makes sense.
Also, why not use tick bars that automatically adjust to market activity ?
1 minute bars at 9:30 am are much different than 1 minute bars at noon.

Because i can see the market activity I need to see with time based 1 min charts. I look at two entry signals. 5 minute and 1 minute and correlate each of those with the dynamics of how they were made and the general context that also includes their position to the two MA’s. This correlation is mostly on the fly and just done from experience.

 

[jinxu]

Roflmao to me a 40” moniter looks ridiculous. But to each his own. Whatever floats our boats and doesn’t sink us!

I just use an internet wireless hotspot (
Little box about 2.5” x 4” that runs off its own battery. Just flip the switch on turn on laptop and connect up. No wires. Simple to use. Works off password. I also have power inverter that hooks to my car or motorhome while traveling and can hook both the hotspot and the laptop to it thus not having to use the batteries of each one.

When I did an analysis while shopping for monitors. I realized for the price of 4x 23" monitors I could buy just one 4K monitor. Same results. Less cables. Maybe even cheaper due to less cables. Some of them cost like $20-$50 and they add up.

Doesn't make sense why people still want to go the multiple monitor route. Best argument I see is to hedge against having 1 monitor failing against all 4 failing. I see that argument as being dumb. Monitors have low failure rate. And if it fails, I'd just go buy a new one.