Swing Trade Play 11/11/05

Yes all your wondrous examples of profitable trading are everywhere to see here at ET --- are you sure that you are not having psychological issues as a result of your failures.

to blame others and attack ideas is the lowest form of this psychological ineptitude, so at least you are at rock bottom --- you have no where but up from here if you can just find some way to --- believe!

come out to Vegas for the expo and i will meet with you personally and i will show you several highly profitable trading methods!!! :) You just have to believe!
 
Quote from jackbyrd:



Correct me if I am wrong sir, but you are saying that you have witnessed MacroEvent trade? and/or you are certain that these order replacements actually generate profits?

The above post certainly appears that you are referring to MacroEvent.
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Jackbyrd,

No, I have not seen Macro trade (I would like to!!)and yes I made an indirect reference about him and some other traders here on ET. The trader I witnessed was located in the Los Angeles area where I reside. And as my previous post indicated , their approaches though not exactly the same, have strong similarities..... which is true.

I think neither Macro nor myself said "order replacement" is a profit generator per se, but a way of managing a trade that is different than the usual resting hard stop order.

Regards,
Dave
 
hi again :D

have nothing against you personally, just trying to understand logic behind your strategy.

why do you need to be positioned for a swing unless you are trading 1000 contracts per entry. It take time to build either top or bottom you will always have time.

Just for you I wish market will open 100 points below on monday.

I think is a great strategy for ranging market.

good luck with your trading.
 
Quote from MacroEvent:


on occasion i have made specific trade entry calls in Billy's room if i see something of importance from the buy/sell program tracking that i do that may bring a higher probability to the trades that we are already taking --- i have also called out my trades at times in two other chatrooms in the past but i do not remember if WDScott was in the rooms at the time --- hey may or may not have as i am not sure.
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I am in Billy's room ( IOAMT ) during the trading day and have read Macros posts.... specifically his "buy/sell program activity calls". His is a very good trader. And I define a trader not only as someone who is consistently profitable, but also someone who is a student of the market. This definition fits Macro to a T.

Although I do not take Billys trades because much (though not all) of his style is countertrend which I dislike, this is trading and either you're long, short , or flat and I find many times during the day, I am in the same direction as the rest of the room. I will say Billy is consistently profitable and also a very knowledgeable trader and individual. A VERY good place for new traders to learn about this business. I am grateful for his efforts and contributions and I learn something new there all the time. Also, I do enjoy the company...... trading is quite a lonely endeavor and having a room like Billys takes that lonely edge off a bit.

Regards,
Dave
 
Quote from MacroEvent:

yes i know the "pit" is watching 1281 and 1285 now like a hawk so i am fully aware of this {you are right} --- but since we do not know what the market will ACTUALLY do yet {:D} i am "flexible" and ready with my method to react accordingly.
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Absolutely. Flexibility is crucial.

you can never tell what the market will do and what can happen from day to day in the world --- i entered one short swing trade on 6/21 and had 6/8ths of that short swing trade still in play cover in less then an hour the day of the london bombing news {just decided to take everything off the table between 1176 on up to 1180}. the fact that i was already "in" the market when that happened was the only reason i was able to catch that type of move {because you never know what will happen next}.[/QUOTE]

You were short before the london bombings on a swing trade. You really cashed in there. Chance favors the prepared mind.

Also your point in being "in" the market could get easily lost for new traders. It is this "in" part and all the necessary and required techniques associated with those individual trade setups, that is being overlooked and missed by others reading these posts. All your trades have a certain element of "in" (Ratio, swing) including Billy's setups. My trades do as well. They just don't see it yet.


if you have a method to use for swing trade entry signals that has a good track record, and you can add the flexibility from an order replacement entry management style, then you have the optimal capability for initiating these trades.[/QUOTE]

Agreed.


i will also add, the one important part of a swing trade is to be zeroed in on what s/r levels are key for each days intra-day moves. you have to know what levels will "if broken" cause new "responsive" buying or selling --- this is a key part of staying fully in tune during each hour of a trade day what will threaten or benefit your swing trade. if you know this information and how to use it, then you can already have plans to react to the movements of price whatever they may be --- if price breaks this level with "responsive" buying do this, and if price breaks this levels with "responsive" selling do that --- if price goes sideways then keep listening to music videos from Yahoo music {like "Ready Steady Go from Paul Oakenfold or "Hurt" from Johnny Cash --- whatever is your taste} [/QUOTE]

Yahoo music :D :D :D
 
Quote from balda:

hi again :D

have nothing against you personally, just trying to understand logic behind your strategy.

why do you need to be positioned for a swing unless you are trading 1000 contracts per entry. It take time to build either top or bottom you will always have time.

Just for you I wish market will open 100 points below on monday.

I think is a great strategy for ranging market.

good luck with your trading.
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yes there usually is time while in a top or bottom, but we usually determine that a top or bottom has occurred "after the fact", so i want to be "in" the market prior to the reversal of the trend. i have my swing set into 1/8th scale-outs so that i could potentially catch the last 1/8th with 80 points of ES movement, and if you see how often the ES makes a 80 point move each year you will find that you need to be near the very edge of the reversal to gain that 80 point potential. so far this year we have had three moves of at least 80 ES points and two just over 75 points for a total of 5 very nice swings. if you wait for price to reverse with some sort of confirmation then you are giving up almost 15 to 20 points of each move {and with 5 to 8 good swings a year that is a lot of points to leave on the table}.

i hope the market does not open 100 points down on Monday because that would mean something most likely bad happened and that is not good for any of us --- a normal cyclical price reversal is just fine for me. :)
 
Quote from MacroEvent:

Yes ...

come out to Vegas for the expo and i will meet with you personally and i will show you several highly profitable trading methods!!! :) You just have to believe!
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would it fair to say that you need to believe those magnet s/r numbers and without those number to base the trading activities on, this method won't work.
 
Quote from nkhoi:

would it fair to say that you need to believe those magnet s/r numbers and without those number to base the trading activities on, this method won't work.
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excellent question ----

yes they are critical imo to follow while the trade is in place as the main reference points to have your trade plan options triggered from. for instance, friday we had market profile levels of 1268.00 and 1262.00 as the "nearest" levels from the opening price of the trade day --- well guess where the price extremes for the day were, 1268.25 and 1262.50. you can't get much closer then that imo, and this happens very often as price seems to hesitate or bounce when these levels are first encountered during a trade day {usually a second or third push is needed to break through the market profile generated s/r levels}.

now there are major and minor levels to follow with market profile based trading, and this is all part of using these levels to your advantage during a day to aid in proper trade management --- also i will cover positions at times just prior to these levels to gain as much profit as possible prior to what may be a price directional reversal bounce. all i can say is that i am more impressed with market profile from a fundamental trading stand point as time goes on --- it keeps making me believe!
 
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