Please teach me.

bwolinsky · Mar 25, 2012

Quote from ocean5:

Name a few.The only i know of is the price itself and the SMAs.

TSI, Delta Norm Series, Quadratic Projector.

These are the three non-extremum indicators I use in my futures trading.

ocean5 · Mar 25, 2012

Quote from bwolinsky:

TSI, Delta Norm Series, Quadratic Projector.

These are the three non-extremum indicators I use in my futures trading.

Haha..ok,but TSI is the oscilator type indicator,if you didn`t know, but can be non-extremum if you use some voodoo magic with it,however.Never heard of the rest two,but suppose they also have some limitations you never heard as of yet.

RedTankEra · Mar 25, 2012

Quote from macattack:

As far as, " Stick to winners at least 3x the average loss or you wont make it far.", won't that destroy you if you get a choppy day or a choppy week even?

It seems like you would need to recognize the conditions & maybe go for 1x loss, or 2x loss at certain times. If price looks like it's going to take off you could always move your target up.

When things don't work for whatever reasons you take your 1x losses like a good scout and continue moving forward without deviating from your good expectancy plan.

ocean5 · Mar 25, 2012

Quote from Paddler:

Go ahead. You will find the journey as bitter as that of reading indicators. (If you truly know how to use indicators, that will be a different story.) You are trading with one-sided view.

If you MUST trade with nothing else but price data only, do not limit yourself with price action which merely deals with relative price highs and price lows and sometimes-work-sometimes-fail horizontal support and resistance or fibonacci levels. Consider nested channels (or nested trend lines). Breaking out of trend line has meaning. Failure of breaking out has meaning too.

Consider the behaviors of each price bar. Look at the open and close positions of each price bar. Be sensitive. Doji where open and close are similar is a powerful signal. Look at the range of each bar, in particular relative to prior bar. If a price bar is under the shadow of prior bar, it means something. Every price bar does tell you something as the market is ALWAYS right. If you are intelligent enough, you can build a load of money-making insights on market behaviors.

Lastly, the best advice I can give you is that DO NOT waste time and be emotional to guess highs and lows. Your job is to read one bar at a time and then decide whether to wait or enter when you have no position and to hold, reverse or exit when you hold position.

When you are good enough, think in terms of intra-bar.

Good luck.

Did you mean every bar has its tradable range?Talk to me,Paddy.

Paddler · Mar 25, 2012

Quote from ocean5:

Did you mean every bar has its tradable range?Talk to me,Paddy.

No. There is no such thing as "tradable range". But every bar, more or less, is tradable. If you want to get the most out of every bar, figure out the behaviors in DOM and T&S.

ocean5 · Mar 25, 2012

Quote from Paddler:

No. There is no such thing as "tradable range". But every bar, more or less, is tradable. If you want to get the most out of every bar, figure out the behaviors in DOM and T&S.

Hahaha..Yes there is!If a bar has 4 ticks range, it is tradable.

macattack · Mar 25, 2012

Quote from RedTankEra:

When things don't work for whatever reasons you take your 1x losses like a good scout and continue moving forward without deviating from your good expectancy plan.

Don't you think, at least for a new trader, that a 1:1 could work just as good as a 3:1?

Over many trades the 1:1 trader will have a better winning % than the 3:1 trader. The 3:1 trader will have a better win/loss ratio.

Price chops around so much sometimes that 3:1 is tough to get, especially if your entry wasn't as early as it should've been. But then again the trader going for 1:1 will miss out on the bigger moves.

So I don't know. I can see benefits to both styles. Seems like it would depend on the day as to which method would be best.

A trader going for 1:1 only has to be right 1 trade over 50% and he's made a profit for the day. Sounds so easy.

RedTankEra · Mar 25, 2012

Quote from macattack:

Don't you think, at least for a new trader, that a 1:1 could work just as good as a 3:1?

Over many trades the 1:1 trader will have a better winning % than the 3:1 trader. The 3:1 trader will have a better win/loss ratio.

Price chops around so much sometimes that 3:1 is tough to get, especially if your entry wasn't as early as it should've been. But then again the trader going for 1:1 will miss out on the bigger moves.

So I don't know. I can see benefits to both styles. Seems like it would depend on the day as to which method would be best.

A trader going for 1:1 only has to be right 1 trade over 50% and he's made a profit for the day. Sounds so easy.

Reducing winners usually ends in lower expectancy, not higher.

The way you speak about the chop and small winners it makes me realize you spend too much time trading small timeframes.

Careful, don't play where the newbies do.

macattack · Mar 25, 2012

Quote from RedTankEra:

Reducing winners usually ends in lower expectancy, not higher.

The way you speak about the chop and small winners it makes me realize you spend too much time trading small timeframes.

Careful, don't play where the newbies do.

You could have something there, but even on the bigger timeframes I still find it difficult to get those 3:1 trades. Maybe something I need to look at a little closer.

Paddler · Mar 26, 2012

Quote from ocean5:

Hahaha..Yes there is!If a bar has 4 ticks range, it is tradable.

Hehe, how do you know that you are going to have a 4 tick range on a starting forming bar? Just go along with what the market wants to reveal tick by tick.