Simple Profitable Method
- Thread starter trader28
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Quote from wee man:
Ah, been deleted...quite righty too.
Happy new year folks, all the best for 2007!
Heh heh Cazza spat the dummy eh
"it's not just 'someone', since it's a truckload size it must come from a big guy and big guy is the guy that definitely can move the market. OK so now we know who is that someone, the next logical question is, is he seller or buyer? if he is seller does he want to sell at lower or higher price? if he is buyer does he want to buy at lower or higher price? what would you do if you are big guy, what would you do if your name is Don Corleone "
Does Don Corleone try to scare, manipulate and deceive people?
Does Don Corleone try to scare, manipulate and deceive people?
Quote from VSTscalper
Many traders have a problem figuring out the Start of a Rangeâ¦.the Break Out of the Rangeâ¦.andâ¦.whether the Price will keep going in the same directionâ¦.or Reverse. For meâ¦.I solve this problemâ¦.by carefully watching the ACV or Accumulated Volume of the Depth of Marketâ¦.which is located on the Dome.
The Depth of Market is all about Price Action. You can see the five levels of the Buy and Sell constantly changingâ¦.moving up and down. While most traders only look at the Inside Buy and Sellâ¦.more often than notâ¦.depending on the Inside Buy and Sellâ¦.will cause you to get Faked Outâ¦.or Suckered into a trade you shouldnât take.
The charts are for 04-26-06â¦.ERâ¦.234 tick chart. I will go over the ACV as seen on the Dome. Most trading platforms have the different levels of the Depth of Marketâ¦.but there are very few that have the ACV.
The next two charts will show the long Down Trendâ¦.going into a Range conditionâ¦.then Breaking Out of the Range. The rest of the slides have an explanation for each Dome. The first chart is a longer viewâ¦.and the second charts zeroâs in on the area I am talking about.
I was done trading for the dayâ¦.and decided to watch the Market....to see if it would Reverse up to closing. It was a little hard getting all the Screen Shotsâ¦.and watch the Market at the same time. Butâ¦.it worked out well. Of courseâ¦.the screen shots belowâ¦.on the Domeâsâ¦.are just a Snapshot as the Price was constantly moving.
You will need to refer back to the Second chart to see the Priceâ¦.and get an idea of the Price area I am talking about. Basicallyâ¦.from the beginning of the Range up to Closing of the Stock marketâ¦.not the Futures market.
Hope this helpsâ¦.both Scalpers and Trend followers. Ranges are one of the big problems for traders. I very seldom get caught in Fake Outs anymore
The first Dome belowâ¦.shows the Buy side at 581 was 2 to 1 or greater than the Sell side at 203. The Prices had been in a long Down Trend. You can see the area on the chart where this was happening.
Watch the Prices for each Domeâ¦.as we continue.
The second Dome belowâ¦.shows the Buy side at 294 and the Sell side at 766. Howeverâ¦.you can also see 615 on the Sell sideâ¦.on the 2 nd level of the Depth of Market. What was happening wasâ¦.the Sellers wanted to Stop the Downward Trend. You can see the area on the chart where this was happening. You can tellâ¦.the Big Moneyâ¦.wanted to Reverse the Trend.
The third Dome belowâ¦.shows the Buy side at 744 and the Sell side at 773. You can also see 635 on the Sell sideâ¦.on the 2 nd level of the Depth of Market. The Sellers were still trying to Stop the Downward Trendâ¦.but the Buyers started to fight back. This caused the Prices to go into a Range condition. This went back and forth for about 20 minutes. This was a battle that we see everydayâ¦.and this is why Prices go into a Range.
The fourth Dome belowâ¦.shows the Buy side at 274 and the Sell side at 268. You can also see 106 on the Sell sideâ¦.on the 2 nd level of the Depth of Market. The Sellers had halted the Down Trendâ¦.and wanted to make sure the Breakout of the Range would continue the Reversal into an Up Trend. While there was no 2 to 1 or greater Spread at this pointâ¦.this helped get the new Up Trend going.
The fifth Dome belowâ¦.shows the Buy side at 113 and the Sell side at 523. This was more than the 2 to 1 spreadâ¦.so it kept pulling the Prices up. The start of the Up Trend came when the Prices had a Breakout from the Rangeâ¦.and crossed the Trendline on the chart. This Domeâ¦.and the Price Actionâ¦.confirmed the Breakout to the upside. There was no longer any doubt.
and so on.......http://www.elitetrader.com/vb/showthread.php?s=&threadid=68098
Happy new year smart guys....
I found that vst thread pretty interesting but the slant is mostly toward scalping. I do think the DOM is valuable for predicting the next tick or two but dont think its worth much beyond that. I dont think its going to help you find those trades that are going to make a couple of points or more. For me it is much easier to step back and look at a wider picture. Watching things on a micro scale makes me jumpy as hell and will scare me out of a good or get me into a bad trade more often than not.
Spat the dummy, lost his cool and then half a page of justification instead of partying the new year in... someones a little insecure
I bet he argues with the market when he gets a trade wrong too
I was able on Friday 12 31 06 to make 1.2in the ER on one contract with this system. I have been trading for three years with no sucess. I have used Woodies CCI mainly, but the MACD I have always loved. The MACD finds money, it just does. The problem is figuring out which MACD crossovers are good ones, and which ones arent. So Trader 28 I want to thank ya. I am using a 5 minute chart instead of the ten minute chart, and of course the 2 minute chart. It works really well. On very good days you could just take a 2minute MACD cross inside a 5 minute MACD. I also use the 9 SMA and I use Woodies piviots and a 25LSMA and 34EMA on the 5 minute chart. Woodies Piviots are strong, if you dont use them, and like targets I suggest them, they are strong. That's the way I trade, I determine trend using the long term, use the short term to enter, and use a PP S1 or R1 as a possible target. So thank ya Trader 28, it really helped me to know that someone else out their used the MACD, and you helped me weed out what I was doing wrong.
Friday I made six trades
+.4 = forty dollars
+.3 = thirty dollars
-.2 = twenty dollars
-.4
+.1 = ten dollars
+1.0 = hundred dollars
I like this method. Use long term and short term. Make a little, lose a little, hit a home run. On all the trades I took had I stayed I would of won the trade. Reason for getting out, prices were touching the 9 sma average I got scared, and closed the trade.
Anyways I'm a new trader, I'm not making a living doing this, and I dont know half of what the rest of you do, but I just wanted to let Trader know this helped me. I'll get good at this, then just bump up the contracts
Thanks again
Trusten
Posted a chart of a 2 minute chart from Friday. On the first arrow I sold then got out on that second blue candle. Second arrow I sold and took a 1.1 and that was my big trade. I'm not showing the other 4 trades earlier in the day.
Friday I made six trades
+.4 = forty dollars
+.3 = thirty dollars
-.2 = twenty dollars
-.4
+.1 = ten dollars
+1.0 = hundred dollars
I like this method. Use long term and short term. Make a little, lose a little, hit a home run. On all the trades I took had I stayed I would of won the trade. Reason for getting out, prices were touching the 9 sma average I got scared, and closed the trade.
Anyways I'm a new trader, I'm not making a living doing this, and I dont know half of what the rest of you do, but I just wanted to let Trader know this helped me. I'll get good at this, then just bump up the contracts
Thanks again
Trusten
Posted a chart of a 2 minute chart from Friday. On the first arrow I sold then got out on that second blue candle. Second arrow I sold and took a 1.1 and that was my big trade. I'm not showing the other 4 trades earlier in the day.
No worries Trusten, have a great trading new year and a scotch and coke for me
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