Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM
- Thread starter volpri
- Start date
I can laugh off the foolishness but the negativity and ignorance can be corrosive to someone trying to learn a difficult profession. It can be hard for a beginner or journeyman to know the difference between legitimate criticism and toxic noise. I've been helped along the way and it's the mark of a good human to help others. Volpri has put in a great deal of effort and time to help others in here.
And this is what happened to that rather strong BO attempts on that smaller range. Within 5 bars price is headed back towards the top of the range. So fading the smaller range BO would have been profitable. Another good example. I could not trade it as I went to shower and then eat breakfast..yes I know a late breakfast.
Remember, now I spoke of this before it happened in my earlier post. Not predicting just anticipating possible upcoming PA in range trading based upon probabilities (80% BO fail with 5 bars).
Remember, now I spoke of this before it happened in my earlier post. Not predicting just anticipating possible upcoming PA in range trading based upon probabilities (80% BO fail with 5 bars).
MACD and SPEEDO,
Thanks for your kinds words and vote of support. Yes, it is work posting this stuff. I don't know what to think of overnight (whom I have dubbed as Fedex). I would hate to think he is a troll. I would rather think he is a longer term trader (as his handle seems to say...overnight). He apparently goes through big drawn downs, if I remember correctly, and it seems like he doesn't grab good profits, when the market hands them to him. I would therefore, rather think he, at some point in time or the other, tried averaging down or scaling in (polite term for it..less abrasive) on one or more of these huge drawdowns, and maybe lost a bundle that made him so against ANY scaling in. Anyway, I suppose he has a right to warn folks. He really doesn't splatter up my journal too bad. Maybe it won't get worse?? At least he now has my post #1252 he can refer traders too if he has concerns.
Thanks for your kinds words and vote of support. Yes, it is work posting this stuff. I don't know what to think of overnight (whom I have dubbed as Fedex). I would hate to think he is a troll. I would rather think he is a longer term trader (as his handle seems to say...overnight). He apparently goes through big drawn downs, if I remember correctly, and it seems like he doesn't grab good profits, when the market hands them to him. I would therefore, rather think he, at some point in time or the other, tried averaging down or scaling in (polite term for it..less abrasive) on one or more of these huge drawdowns, and maybe lost a bundle that made him so against ANY scaling in. Anyway, I suppose he has a right to warn folks. He really doesn't splatter up my journal too bad. Maybe it won't get worse?? At least he now has my post #1252 he can refer traders too if he has concerns.
You are welcome.
MY OPINION : "Fedex" IS A TROLL. He has masive 20,000 posts on everything and anything. Guess that is his Job.(Just look at the frequency of his posting and the threads that he posts to.)
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I want to highlight another trade. This is trading a BO point of a previous low. Look at the bar I have labeled #1 See it's low. Two bars later I made an entry long on a gap between this low of bar #1 and my entry on bar #2. Why would I do this? Well price is going back and forth around the top of this smaller range. Neither side is really winning. Things are slow. So while I am waiting for "paint to dry" I can trade some BO points. What is my rationale? PA is slow. Back and forth. It goes down on one bar then back up on the next. Probing back and forth. No clear strong BO in any direction. So I will trade BO points of previous bars in this back and forth PA action.
So what am I betting on? I am betting that the gap (red box) between the low of bar #1 and my entry point on bar #2 will fill. I am betting there will be enough back and forth action that I can go long and even add to it which I did then I exited when the gap filled. Just another technique. Trading BO's points more than one bar back in slow markets.
My first entry was long at the bottom of the red box on bar#2. I then added lower down. Then I exited when the gap filled on the very next bar after bar #2. It is of interest to note that all this took place around the top of a smaller range and the top of a much broader range. This is not trading the outer limits of the ranges. I went long not short. If I were trading the outer limits I would be shorting. This is simply trading BO points in a slow moving market regardless of where price is in the range. Of course, I am cognizant always that we are at the top area of both ranges and price could began sliding down deeper in those ranges. But at the moment PA is slow so I might as well trade what is in front of me. And make something while I wait for bigger movements.
So what am I betting on? I am betting that the gap (red box) between the low of bar #1 and my entry point on bar #2 will fill. I am betting there will be enough back and forth action that I can go long and even add to it which I did then I exited when the gap filled. Just another technique. Trading BO's points more than one bar back in slow markets.
My first entry was long at the bottom of the red box on bar#2. I then added lower down. Then I exited when the gap filled on the very next bar after bar #2. It is of interest to note that all this took place around the top of a smaller range and the top of a much broader range. This is not trading the outer limits of the ranges. I went long not short. If I were trading the outer limits I would be shorting. This is simply trading BO points in a slow moving market regardless of where price is in the range. Of course, I am cognizant always that we are at the top area of both ranges and price could began sliding down deeper in those ranges. But at the moment PA is slow so I might as well trade what is in front of me. And make something while I wait for bigger movements.