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IN THIS THREAD: IronFist learns (the elusive) PRICE ACTION
- Thread starter IronFist
- Start date
Quote from nkhoi:
use replay feature, it helps you to recorgnize the setups faster.
Tick replay is very valuable to gauge the velocity, momentum of the moves. Velocity as I mentioned before is overlooked. I won't post a chart because it won't show it. For example, if you have been watching the NQ, and prob. and other index for that much in the last 60 minutes, from 2-3 ET you should have seen that the selling accelerated and the pullbacks were on declining speed/velocity. So what you do? Look for reversal and sell it.
Quote from IronFist:
nkhoi, i've never been able to get the replay feature to work in SC. Is there a trick to it?
no trick, first scroll back to where you want to start to replay then just click RPL button, click pause to adjust the play speed, click stop to go back to normal mode.
I use sierrachart so I don't know anything about QT.
Sorry, there's no playback feature in QT. However, if you have the hardware, you could record the screen using screen recorder software, such as Camtasia, HypeCam 2, Camstudio etc. Just be aware, those applications require tremendous amount of PC's resources.
Good luck,
Schaefer
Good luck,
Schaefer
Quote from osho67:
Any idea how I can use replay feature ? I am using IB and QT . Help much appreciated as I would seriously like to do this .
Guys, Before I got software, I would print out charts (from broker), cover the right hand side with paper, then slowly slide the paper revealing more and more of the chart, thus "replaying."
Agreed that this is the way to learn rather than seeing a finished chart all marked up with perfect reverses and trend lines. But I still feel it helps you learn faster to have a mentor and see him make calls live. So far, no one has really come up with how to do that as it's also agreed to a good trader is busy trading!
Agreed that this is the way to learn rather than seeing a finished chart all marked up with perfect reverses and trend lines. But I still feel it helps you learn faster to have a mentor and see him make calls live. So far, no one has really come up with how to do that as it's also agreed to a good trader is busy trading!
I watched the Gramza vid last night about what constitutes a trend, etc.. HH, HL, still in an uptrend until a previous swing low has been broken, etc.
So here's my first trade today. I seriously thought I was going to make (demo account) money on this one.
The horizontal lines are marking previous swing highs and lows.
So here's my first trade today. I seriously thought I was going to make (demo account) money on this one.
The horizontal lines are marking previous swing highs and lows.
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ok, question for all you PA masters.
What is going on here? Depending on how I look at it with reference to highs and lows, what is happening here? Should I be preparing to go long because price is making HH/HL and starting to go up again?
Or should I be preparing to go short because price is making LL and LH and about to go down again?
What is going on here? Depending on how I look at it with reference to highs and lows, what is happening here? Should I be preparing to go long because price is making HH/HL and starting to go up again?
Or should I be preparing to go short because price is making LL and LH and about to go down again?
Attachments
It was a decent play. At support in an upward trending market. Other options for that play would be to wait for confirmation like a break upwards past the doji and then enter on that break.
There are a million ways to look at that trade. The correct answer for you may only come with experience.
I still had a long bias at that point because I was waiting for a double top or something to change that bias. I think of HH HL as a bias and then my setups only play in the direction of that bias.
There are a million ways to look at that trade. The correct answer for you may only come with experience.
I still had a long bias at that point because I was waiting for a double top or something to change that bias. I think of HH HL as a bias and then my setups only play in the direction of that bias.