Question for Grob/Hershey

[Grob109]

Quote from bali_survivor:

Hi,

Am partway going through this thread. Looks good! I am sure I am missing something that has been answered somewhere else but cannot put my (little) finger on it and I wonder if someone can put me back on track.

When the prices are "centering" then what is one supposed to do? Can someone explain this to me in simple language without too many difficult words and without writing a five page answer?

Tnx a lot!

Maria

Post a centering chart.

I will annotate it for you.

If you want help from others consider posting something that will tell them were you are in the infinite scheme of things.

What you will see is a pennant (do search for definition)

The pennant has a point to the right.

If you do not want to gamble and guess wrong, you bracket in with protective stops.

Search bracket in. Search protective stops.

This is a beginner low risk entry.

Set stop at value of point of centering immediately after market takes you in.

When price moves off entry value in the direction of the trade, advance stop to break even and cancel your prior stop. Search break even.

Repeat every 2 to 3 minutes by advancing stop the same distance.

You will be stopped out soon. Quit for the afternoon.

After 20 days (a month) and doing 20 centering (one each beginning of the pm) you can work out a more sophisticated way to double your profits by holding through the trend created by the break out from the centering. Search break out.

how did you find out what centering was??

Post your gains each day as a contribution.

 

[bali_survivor]

Quote from Grob109:

how did you find out what centering was??

Grob109,

Thanks for the information, still in the learning stage and not yet ready for intraday stuff (have a day job). Once I have more confidence and have something to contribute then I will.

The quoted post had a chart as attachment and the chart mentioned centering.

Maria

 

[Ireland]

Quote from makosgu:

After market (ie. on my commute home), I went back to debrief a particular transition where I noted that additional review was required (ie. circa bars 25-28). I've attached a more detailed annotation since it also relates to Stalker's Q. It is important to reinforce the PV relation of channels. I have annotated the volume to reinforce how PRICE, VOLUME, and CHANNELS relate.
Kind Regards,
MAK!

Mak,

you make productive use of your time en route to LI - appreciated for sure. Those particular bars are clear to me i.e. 25 to 28 because we are moving left to right as expected and price behaves by not breaking downward at that time. The overlaps of your green and red boxes are interesting and in each case they are followed by a V then P break out or in some cases a combo VP breakout i.e. same time. A minor exception is at midday bar 31 I believe where volume increases mildly over the previous bar and price dips downward by a tick before changing course for an up leg. This would be a fakeout for me until my eyes become keener and my golfing handicap moves into single digits.

I extracted todays data into excel and plotted it to see relationship between H-L vs. vol per 5 min ES bar. Certainly many longer bars have higher volume but nothing jumps out at me as obvious beyond that. Perhaps osmosis will enlighten over time.

thanks as always for your effort - Grob likewise for yours.

Irl

 

[makosgu]

Quote from Ireland:

Mak,

you make productive use of your time en route to LI - appreciated for sure. Those particular bars are clear to me i.e. 25 to 28 because we are moving left to right as expected and price behaves by not breaking downward at that time. The overlaps of your green and red boxes are interesting and in each case they are followed by a V then P break out or in some cases a combo VP breakout i.e. same time. A minor exception is at midday bar 31 I believe where volume increases mildly over the previous bar and price dips downward by a tick before changing course for an up leg. This would be a fakeout for me until my eyes become keener and my golfing handicap moves into single digits.

I extracted todays data into excel and plotted it to see relationship between H-L vs. vol per 5 min ES bar. Certainly many longer bars have higher volume but nothing jumps out at me as obvious beyond that. Perhaps osmosis will enlighten over time.

thanks as always for your effort - Grob likewise for yours.

Irl

Credance for PRV, a simple excel spreadsheet (ie. pivot table)... Note the shift and where scalpers are at the most risk per 5M segment. PONDER! I really could run very far and get carried away with the many aspects of the attachment but it would require a new OT thread for scalpers to anticipate H-L given PRV. However, we're focused...

MAK!

 

[Atlantic]

Quote from tradingbug:

When you get a lot of experience under your belt, stops are based on market conditions. Not so much relative to entry price. I would say stops are more related to volume and where in the cycle you are. A lot of times if you hold a position against you a few points and you get stopped out, price will swing your way if you are patient. I think Jack practices wash trades to handle this anf get in the right mind set of the market is always oscillating up and down.

For instance look at price 120700(current price as i type). How many times in the current week has price gone through 120700?

so if i understand this right - if a position goes against you a couple of points - you just rely on that the market will come back to your entry point sooner or later?

isn't such a style commonly known as recipe for desaster? do you have plans for the unevitable day that will come when you hold multiple contracts and an outside event will move the market 10 or 20 pts. against you - without ever coming back?

 

[Atlantic]

Quote from Grob109:

For the EQ see attached.

When you were starting out you had an unfortunate experience.

Some strategies work on the principal of first doing A and, then, protecting yourself from the consequences of doing A. The way this is all done involves taking losses of some nature.

The alternatives to all of the above cover a whole spectrum that you have not been introduced to.

You chat in .....come on.....and..... indeed...land.

An alternative to the setting called "being in reaction" is a setting called "being in anticipation"..

The point in time for "being in anticipation" is a relatively long time before "being in reaction". their is a point in time in between these two. It is called NOW.

There is another factor. You may being doing entries and exits.

One altenative to trading entries and exits is to trade doing holds and reversals.

If two person were using different methods as above and were trading in the same market, you will find that the four things on the table: anticipation, reversal, -1,-2,-3,-4 and reaction, roughly occur in the order you just read.

All this says is that one trader is trading ahead of the other trader. The name of our approach for a trader is "front runner". The name of your kind of trading is same-side trader.

fornt runners trade ahead of same-side traders.

So there are two very different methods being addressed here.

Most of us know what you are doing and we take advantage of it all the time. Uou are just entering the trading world of front running. If you go back and speak with your early mentors, you should ask them about all the stuff that they did not tell you back then.

It is not a case of right or wrong. It is just different. The come on and indeed stuff you play with is telling us that this is new territory for you.

Look at the attached scanned chart. IQ is the vertical axis and EQ (Emotional Quotient) is the horizontal axis. An average person is in the middle. Notice that that cell is labelled failure.

There are a bunch of arrows on the chart that show you how people go from one cell to another. There is a key at the bottom that talks about this stuff.

I may give Stalker a reading on EQ in Swedish in a while.

mr. grob,

there is no need to belittle me - just because you are once again unwilling or unable to give a short and distinct answer. i had some questions in this thread - and i asked them in a way that was and is far ahead of the average standard of communication around here - yet - your reaction is to ridicule me like everyone else before who is not a blind believer of what you are offering (and i still think you have something to offer).

this once again brings up the question about why you find it necessary to do so? if you are so old, experienced and skilled as you pretend you are - is such a behaviour adequate for the gentleman you like to be? think about it ...

regards,

gerry

 

[Atlantic]

how many ES-trades have you made yesterday (aug. 31st)?

what were your net results?

thank you

 

[tradingbug]

Quote from gerry875:

so if i understand this right - if a position goes against you a couple of points - you just rely on that the market will come back to your entry point sooner or later?

isn't such a style commonly known as recipe for desaster? do you have plans for the unevitable day that will come when you hold multiple contracts and an outside event will move the market 10 or 20 pts. against you - without ever coming back?

The market has a definate structure. You can probably understand that sometimes it is fortuitous to hold through price pertibations(lateral channel). Experience and understanding market conditions is more important than stop losses(fear induced).

 

[Ireland]

Quote from makosgu:

Credance for PRV, a simple excel spreadsheet (ie. pivot table)... Note the shift and where scalpers are at the most risk per 5M segment. PONDER! I really could run very far and get carried away with the many aspects of the attachment but it would require a new OT thread for scalpers to anticipate H-L given PRV. However, we're focused...

MAK!

Mak

many thanks indeed for this - much appreciated - the figures are certainly interesting - I will run some more days. I was actually close, I just hadn't put the chart in crosstab/pivot format.

A thread on this at a later point would be interesting but as you say we remain focussed for now

thanks again !

Irl

 

[Atlantic]

Quote from tradingbug:

The market has a definate structure. You can probably understand that sometimes it is fortuitous to hold through price pertibations(lateral channel). Experience and understanding market conditions is more important than stop losses(fear induced).

you still don't get it, do you? how long have you, tradingbug, been dealing with the markets already?

all the best for you guys anyway - you will need it.