ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
I would have a stroke if I traded like you do.
Much respect.
Much respect.
Sorry, but I ran out of Viagra.
And so the saying also goes, we're are what we think.
Have a good weekend!
I just logged on and saw this.First of all, you da man.
Coming from you... that means a lot.
I haven't read today's posts, I hope everyone did ok.
My body is definitely full of that 'this is really never going down again, ever, ever'-feeling, so I’m going to cancel shorts forever etc.. Just recklessly buy calls etc ..First of all, you da man.
We'll probably get another rally tomorrow. But I would be very careful come next week. It's the final week of September and I have a nasty feeling we'll close the month deep in the red.
This could have an impact on the global indices.
(they need shorts so have to give them some bait sometimes)
You can’t even make a little joke on the V-guys, they’re right too often
Last edited:
The holy grail
Ranges and expansions. Gives me all I need.
I like the way they look, but I'd have no idea how to use them to make trading decisions. If you use these regularly, might I suggest you start a journal here where you could introduce ignorant people like myself to these interesting looking charts?
I’ve been using P&F charts lately but I am still tinkering with the settings. Got 5 of them, those 3 and 2 others.
Once I find what best suits me trading the (M)ES then I might start a journal.
It’s not complicated, charts from left to right:
#1 will print an X for every +20pts move and an O for every -20pts move.
#2 will print an X for every +10pts move and an O for every -10pts move.
#3 will print an X for every +5pts move and an O for every -5pts move.
I don’t read them the way it’s taught as I am waiting for a breakout before to move the lines which gives me a range and a bias.
Price often false break that’s why I am looking for a 5, 10, 20pts move before to take notice of price change.
I still have a 4ticks range chart on my DOM for entries. The P&F charts are mainly there for context but it’s possible to use them for entries and exits.
But most often I’ll just pick a price based on the range, bias and market past price action then put a limit order and overlook the 4ticks range chart …
Last edited:
I used PnF charts YEARS ago. It was MY first charting method... just get some quadrille paper and start charting! Some important aspects for those that do not know...
In it's "intended" usage, PnF is 100% price based... there is no consideration of time, no consideration of volume, and no consideration of momentum... box size (5, 10, and 20 in previous post) does not measure magnitude. Bigger box size does however offer a glimpse at strength but it could take a very long time for a bigger box to actually make a plot! So in a way, box size either determines, or at the very least, should match the type of trading (intraday, swing, invest, etc) you do. Said a bit differently, box size is directly tied to your risk/drawdown.
Importantly, trendlines (incl. slope and-or angle) and certain "patterns" like double/triple tops-bottoms, H&S, and similar structures on PnF charts are worthy of analysis!
Have fun!
In it's "intended" usage, PnF is 100% price based... there is no consideration of time, no consideration of volume, and no consideration of momentum... box size (5, 10, and 20 in previous post) does not measure magnitude. Bigger box size does however offer a glimpse at strength but it could take a very long time for a bigger box to actually make a plot! So in a way, box size either determines, or at the very least, should match the type of trading (intraday, swing, invest, etc) you do. Said a bit differently, box size is directly tied to your risk/drawdown.
Importantly, trendlines (incl. slope and-or angle) and certain "patterns" like double/triple tops-bottoms, H&S, and similar structures on PnF charts are worthy of analysis!
Have fun!
Last edited:
But what's up with that name anyway? What's there to point and what's there to figure out? In any case, I too (tried) using PnF earlier in my career, but I gave up. I just couldn't connect the dots like I could with the candlestick chart.