Explain the difference in public and unlisted to me?
Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM
- Thread starter volpri
- Start date
Thanks!
Only you could get away with having two accounts here lol.
And yeah I know... the inner lawyer in you pressed the matter and won. ---"Hey it's Desty Jr, not me."
lol that was an accident. Logging in during fire duty.
It is visible now, yes, since you changed it to unlisted.
Even though I lost the original recording of the chart in my post #2012 and the complete video of my post (same trades) so only posted a portion of the orginal that did save in my post #2014 I was able to recreate the video and actually mark up the chart and record again at a higher speed (even though it was a 5 minute chart) so the video is not too long. Of course, it won't have my original comments but the trades as they happened are there and I was therefore able, through Sierra Chart replay function, to replay the chart and record it anew with my voice making comments. Fortunately, Sierra chart automatically records what happened during the session but this recording and replay function, while it includes the chart and trades as they happened, does not record my voice.
So, I just replayed the chart and re-recorded my comments as the chart advanced.
Please note while it is a 5 minute chart it does not take 5 minutes for each bar to be made as I have sped things up. But the trades do show and show as they happened.
The video is almost 21 minutes long even though it actually covers more time than that. So, if you are a bit interested in how I scalp and techniques I use in Trading Ranges then you might enjoy watching it. I debated whether to re-record the live trading or just leave it as a static chart as in my post #2012.
Will someone let me know if they can see the video?
Thanks,
Volpri
So, I just replayed the chart and re-recorded my comments as the chart advanced.
Please note while it is a 5 minute chart it does not take 5 minutes for each bar to be made as I have sped things up. But the trades do show and show as they happened.
The video is almost 21 minutes long even though it actually covers more time than that. So, if you are a bit interested in how I scalp and techniques I use in Trading Ranges then you might enjoy watching it. I debated whether to re-record the live trading or just leave it as a static chart as in my post #2012.
Will someone let me know if they can see the video?
Thanks,
Volpri
@volpri
The video is showing fine
I've got a couple of questions for you of you don't mind:
1) You've shown a couple of trades now crossed the multiple videos so far where you averaged down because price went against you initially. What is it that you know that allows you to do so - and when do you ultimately decide you are wrong? It seems that if any of those had kept going against you that you'd likely wipe out all of your other smaller winners, and possibly even end up in the red.
2) Are you open to private messaging here on ET?
Thanks volpri.
The video is showing fine
I've got a couple of questions for you of you don't mind:
1) You've shown a couple of trades now crossed the multiple videos so far where you averaged down because price went against you initially. What is it that you know that allows you to do so - and when do you ultimately decide you are wrong? It seems that if any of those had kept going against you that you'd likely wipe out all of your other smaller winners, and possibly even end up in the red.
2) Are you open to private messaging here on ET?
Thanks volpri.
What is it that you know that allows you to do so - and when do you ultimately decide you are wrong?
It depends on the larger context as to where I am willing to average down and especially do double up and average down. Look at this case. Not only did I average down but I doubled up on my position size. I had 3 contracts short and on that last entry I added twice as many contracts (6 contracts more for a total of 9 contracts). Essentially, I was pressing my bet. I actually doubleup twice. Started with 1 contract on the initial entry added 2 more on the second entry, then 6 on the third entry. I don't always do it that way. I might just start with 1 contract and then add 1 more contract and then on a third entry add 1 more for a total of 3 contracts. Or I may start with 3 contracts on the initial entry then add 1 more contract respectively on the next two entries for a total of 5 contracts. This latter method is reducing my over all risk when compared to doubling up as mentioned above.
So, back to the first part of your question "What is it that you know that allows you to do so"
Using this case as an example: The larger context is important to determine if I am willing to take on more risk by doubling up. Look at the chart again. I have removed the orders that were filled and have drawn in the 6th leg. To clear the chart up a bit.
So, the larger context is: BO channel up. Morphs into a TR once I see 20 bars in the sideways movement. THIS IS THE "MARKET CYCLE". It goes BO (first 4 bars from the open) or spike then channel (starts 6th bar after PB) then TR will (in the form of 5 legs sideways motion and more than 20 bars). That will eventually followed by another BO of the TR as the market will not stay in this trading range forever. At some point the bullishor bearish institutions will win and the market will have another BO. But the larger context (5 legs sideways WITHIN the sideways movement) gives me confidence that according to what price has done and how it has done it that it will continue doing so at least for a bit more.
Next the immediate context. In that 5th leg price is back down to bottom 1/3 of the NOW established TR. So there is a good chance price will go back up into the TR. There are times it doesn't but MOST of the time it will at least enough for a decent scalp. Therefore, I take the bet and buy a contract near bottom of that 5th leg. Then KNOWING that any further adverse move against my position will likely soon go back in my favor I am willing to add another contract so I do. Remember in an establish TR any BO top or bottom BOs using fail within 5 bars. So, I am willing to average down. Four phrases or words come to mind that influence my decision to average down. 1)Larger context i.e. market cycle 2) Immediate context i.e. entry opportunities. 3)Probability 4) Market inertia.
The larger context and the immediate context support averaging down. The probability that price will trade back up into the TR at least a little bit for a profit on a second entry (even if BE or losing on the initial) supports averaging down. Markets have a tendency to keep doing what they are doing i.e. the movement has inertia. What is the movement by the end of the 5th leg? Sideways movement in the form of 5 legs up/down. This shows buyers and sellers are balanced, and they consider this to be a fair price area where sufficient transactions are taking place over time to keep it there. Every BO attempt from since the TR started, top or bottom BO attempts fail.
So, I take my first trade at the bottom of the 5th leg. But understanding that this TR WILL eventually be followed by another BO of the now established TR.
I will deal with the second average down trade later today as there are some additional factors to consider on that trade in deciding to double up with a 3rd entry short of contracts. And also will deal with the second part of your question "how to know when you are wrong". Gotta go for now.
It depends on the larger context as to where I am willing to average down and especially do double up and average down. Look at this case. Not only did I average down but I doubled up on my position size. I had 3 contracts short and on that last entry I added twice as many contracts (6 contracts more for a total of 9 contracts). Essentially, I was pressing my bet. I actually doubleup twice. Started with 1 contract on the initial entry added 2 more on the second entry, then 6 on the third entry. I don't always do it that way. I might just start with 1 contract and then add 1 more contract and then on a third entry add 1 more for a total of 3 contracts. Or I may start with 3 contracts on the initial entry then add 1 more contract respectively on the next two entries for a total of 5 contracts. This latter method is reducing my over all risk when compared to doubling up as mentioned above.
So, back to the first part of your question "What is it that you know that allows you to do so"
Using this case as an example: The larger context is important to determine if I am willing to take on more risk by doubling up. Look at the chart again. I have removed the orders that were filled and have drawn in the 6th leg. To clear the chart up a bit.
So, the larger context is: BO channel up. Morphs into a TR once I see 20 bars in the sideways movement. THIS IS THE "MARKET CYCLE". It goes BO (first 4 bars from the open) or spike then channel (starts 6th bar after PB) then TR will (in the form of 5 legs sideways motion and more than 20 bars). That will eventually followed by another BO of the TR as the market will not stay in this trading range forever. At some point the bullishor bearish institutions will win and the market will have another BO. But the larger context (5 legs sideways WITHIN the sideways movement) gives me confidence that according to what price has done and how it has done it that it will continue doing so at least for a bit more.
Next the immediate context. In that 5th leg price is back down to bottom 1/3 of the NOW established TR. So there is a good chance price will go back up into the TR. There are times it doesn't but MOST of the time it will at least enough for a decent scalp. Therefore, I take the bet and buy a contract near bottom of that 5th leg. Then KNOWING that any further adverse move against my position will likely soon go back in my favor I am willing to add another contract so I do. Remember in an establish TR any BO top or bottom BOs using fail within 5 bars. So, I am willing to average down. Four phrases or words come to mind that influence my decision to average down. 1)Larger context i.e. market cycle 2) Immediate context i.e. entry opportunities. 3)Probability 4) Market inertia.
The larger context and the immediate context support averaging down. The probability that price will trade back up into the TR at least a little bit for a profit on a second entry (even if BE or losing on the initial) supports averaging down. Markets have a tendency to keep doing what they are doing i.e. the movement has inertia. What is the movement by the end of the 5th leg? Sideways movement in the form of 5 legs up/down. This shows buyers and sellers are balanced, and they consider this to be a fair price area where sufficient transactions are taking place over time to keep it there. Every BO attempt from since the TR started, top or bottom BO attempts fail.
So, I take my first trade at the bottom of the 5th leg. But understanding that this TR WILL eventually be followed by another BO of the now established TR.
I will deal with the second average down trade later today as there are some additional factors to consider on that trade in deciding to double up with a 3rd entry short of contracts. And also will deal with the second part of your question "how to know when you are wrong". Gotta go for now.
And who the fuck are you to judge?
He has a "like" ratio of 1, you're .5, and I'm .33 I think.
Not many ET members sport a ratio of 1 or above.