Baron has never addressed this, but is the ignore feature now a block feature as well?
Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM
- Thread starter volpri
- Start date
After Baron announced the latest changes where block is no longer supported, I noticed I had two users on ignore, and I'm very sure I didn't do that myself (I don't need help from software to ignore things
).So, the same thing might have happened to volpri.
Yes that is what happened. Fixed now.After Baron announced the latest changes where block is no longer supported, I noticed I had two users on ignore, and I'm very sure I didn't do that myself (I don't need help from software to ignore things
So, the same thing might have happened to volpri.
I haven't left yet on my trip. I did take three trades this morning. Up 17 points. I did not record them as I was not planning on trading, so these are static "after the fact" screen shots, however, the entries and exits markers are what my platform put on the chart as the trades were executed.
I wanted to post these two screen shots and take the opportunity to point out some trades that appear to be taken in the middle of a TR. Why did I do so instead of fading the edges?
The first chart is a 1min chart. See that third trade a short trade at 5772.25 I covered at 5768.25. Why did I short in the middle of the range? This is a technique I sometimes use that renders more trades than just fading the edges. See the yellow eclipse? This entry short was made on an intra-bar resistance level. See the highs of previous bars. Now see the blue line south of my short entry. That line connects the highs of some previous bars, and I am betting price will oscillate back to that point at least. It did and went a little more, so I grabbed it. TRs can be traded in the middle using technique such as this technique, which is simply betting on the probing back and forth that goes on all session long.
Now look at that first trade why did I go long in the middle of the TR at 5772.50 and exit at 5778.25? Especially when an established TR on this one-minute chart was already in place?
The second chart showing the same 3 trades but from a 5m chart perspective. I made that first trade from a 5m chart. That trade was made based on the 5m chart 2 legged move up from bottom of bar 8:50. I was trading it on a continuation move up. It had nothing to do with an established TR on the 1m chart. I left the TR drawn in on the 1m chart on this 5m chart just for spatial reference. So, now you see why I took that first trade in what appeared to be the middle of the trading range before the TR was established on a 5m chart but WAS established on the 1m chart. Simply put that first trade was off a 5m chart without any reference to look at on the 1m chart. It was based on PA on the 5m chart. Hope that elucidates as sometimes folks think I am breaking my rules and trading before an established TR has been made.
The second or middle trade I think is self-explanatory. I went long at the bottom fringe of the established TR on the 1m chart (by that time I was trading on a 1m chart) fading the bottom of an established TR. What is an established TR? 20 bars or more sideways PA and preferably with three up/down legs in it (not always so though). It was an averaged down long trade. Once it started to move up in my favor the first exit was the exit of the second long entry and the second higher up exit was the exit for the initial long entry.
That is all I am doing today. Got run diesel up the Motorhome. Not yet sure what day I am leaving.
I put vol bars on the chart for those who like to watch vol.
One warning. This intra-bar resistance/support technique in middle of TR and other spots in the TR works pretty good on low volatility sessions but can be less successful on high volatility sessions and more dangerous to implement.
I wanted to post these two screen shots and take the opportunity to point out some trades that appear to be taken in the middle of a TR. Why did I do so instead of fading the edges?
The first chart is a 1min chart. See that third trade a short trade at 5772.25 I covered at 5768.25. Why did I short in the middle of the range? This is a technique I sometimes use that renders more trades than just fading the edges. See the yellow eclipse? This entry short was made on an intra-bar resistance level. See the highs of previous bars. Now see the blue line south of my short entry. That line connects the highs of some previous bars, and I am betting price will oscillate back to that point at least. It did and went a little more, so I grabbed it. TRs can be traded in the middle using technique such as this technique, which is simply betting on the probing back and forth that goes on all session long.
Now look at that first trade why did I go long in the middle of the TR at 5772.50 and exit at 5778.25? Especially when an established TR on this one-minute chart was already in place?
The second chart showing the same 3 trades but from a 5m chart perspective. I made that first trade from a 5m chart. That trade was made based on the 5m chart 2 legged move up from bottom of bar 8:50. I was trading it on a continuation move up. It had nothing to do with an established TR on the 1m chart. I left the TR drawn in on the 1m chart on this 5m chart just for spatial reference. So, now you see why I took that first trade in what appeared to be the middle of the trading range before the TR was established on a 5m chart but WAS established on the 1m chart. Simply put that first trade was off a 5m chart without any reference to look at on the 1m chart. It was based on PA on the 5m chart. Hope that elucidates as sometimes folks think I am breaking my rules and trading before an established TR has been made.
The second or middle trade I think is self-explanatory. I went long at the bottom fringe of the established TR on the 1m chart (by that time I was trading on a 1m chart) fading the bottom of an established TR. What is an established TR? 20 bars or more sideways PA and preferably with three up/down legs in it (not always so though). It was an averaged down long trade. Once it started to move up in my favor the first exit was the exit of the second long entry and the second higher up exit was the exit for the initial long entry.
That is all I am doing today. Got run diesel up the Motorhome. Not yet sure what day I am leaving.
I put vol bars on the chart for those who like to watch vol.
One warning. This intra-bar resistance/support technique in middle of TR and other spots in the TR works pretty good on low volatility sessions but can be less successful on high volatility sessions and more dangerous to implement.
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Volpri, I'm curious it I can ask about if these trades are real or in Sim. I understand that sometimes you want to demonstrate certain things, so you will use the Sim option and take trades this way, but in the post below, you said that the "profit was pretty good" and your platform is clearly in the Sim mode as indicated in the top left [Sim1]. Its a really good feature in Sierra Charts, and most of your other screenshots don't show this, so we never really know, and your videos also cut off this portion of the chart, so we don't know if your videos are live trading or Sim trading.
Its been bugging me ever since I saw you post this last Friday, so I wanted to ask. No worries if all your trading is in Sim as I'm sure the concepts still apply, but for someone trading real money, averaging into 6 contracts or more when they initially only trade 1 is a big deal. So being able to do this in a live account is very challenging, and much different than if the trades are always in a Sim account.
https://www.elitetrader.com/et/thre...-mes-mnq-and-mym.336259/page-201#post-6022399
Its been bugging me ever since I saw you post this last Friday, so I wanted to ask. No worries if all your trading is in Sim as I'm sure the concepts still apply, but for someone trading real money, averaging into 6 contracts or more when they initially only trade 1 is a big deal. So being able to do this in a live account is very challenging, and much different than if the trades are always in a Sim account.
https://www.elitetrader.com/et/thre...-mes-mnq-and-mym.336259/page-201#post-6022399
Thanks for the explanation, I'm learning. You primarily wait until you see 20 one-minute bars of sideways action before you trade? You avoid strong trends like you see on the first 17 one-minute bars today, from 8:30 to 8:46?
If it says SIM then it was SIM. Sometimes I do trades in SIM to illustrate some concepts or if my thinking is not so good that day because of diabetes I will use SIM. For obvious reasons.
As far as size I often trade much bigger than 6 contracts. I generally show all my trades when showing concepts in small size and more often than not on MES but sometimes will show trades in ES. I don't really think it wise to show large size to illustrate the concepts. Many traders have small accounts and they would not be able to relate to large size hence would not take the time to see how I trade. Some would think 6 contracts is too big.
That said the concepts apply in ALL TF's (not sure on sub-1 min TFs) but from 1m on up the concept apply regardless of size traded. Size has to be related to one's account size and tolerance for risks.
On the other hand, some folks wouldn't read my posts if I am trading 1c size in MES. It would be irrelevant to them and seem like pennies. I try to keep both in mind when showing concepts. Small size traders and larger size traders. Please don't relate my accounts sizes to showing the concepts. I have more than one account. Just look at it as a neutral size. If the concept works on small size it will work on any size one can afford to trade.
Got to run.
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My carcass crawled out of bed late. I wasn't even trading during 8:30-8:46. That said if I were trading the 1m chart during that 1m TF I might would trade some of those bars on momentum.
However, I would be watching to see if the opening gap would be filled or if price would head back up before filling the gap. Therefore, I would likely make multiple short trades with small gains each time during 8:30 and 8:46. Just grabbing what the market gives me on that down move. And those trades would have nothing to do with TR techniques as no trading range had been establish during that 1m TF.
Aloha volpri,
Thank you for another great post. I've been having a hard time trying to figure out why you draw some ranges the way you do.
In this example, when did you declare a range, and why didn't you use the top of where the PB started (red box)?
Mahalo!