Here are some thoughts on yesterdays trades concerning how I use MM’s moves. It looks complicated but really isn’t when trading live. The chart isn’t marked up like this live. Only doing this for interested trader LOL. This is how I scalp intraday moves as it unfolds. In the context of a SPB bull trend that reverses. Generally these SPB trends last the entire session. I average in alot on SPB trend (bull and bear ones) however, when a reversal happens you have to act decisively to mitigate losses and end the day profitable. Remember, in scalping I try to exploit MM’s that are often 2 or 3 legs but the main thing is lock in profits as you get them.
The Day Trading Thread
- Thread starter MarkBrown
- Start date
Like I said, any higher high would be erased which worked out perfectly again.
I added in 2 more lots this morning as shown in the screenshot and out with ~$850 in profit (excluding commissions)
I added in 2 more lots this morning as shown in the screenshot and out with ~$850 in profit (excluding commissions)
spoos day start at green line. one possible long failed rest of the day (till now) a very well structured short bias.
pictured also are the studies i posted you can see where the noise is at and where the moves are strong enough that you can expect some continuation.
in other news: delirious is starting a fund lol
just the fact delirious states he is starting a fund but says he doesn't need the money and he is not advertising lol omg this is classic bullshit scammer tactics.
complete proof enough that he is a slick scammer, professional traders who are profitable never buy options they only sell them to suckers.
buying options is for people who are scared of actual underlying market and have hope and luck as their trading methodology. the only people getting real happy are the ones collecting commissions and selling options.
real professional top performing traders trade highly liquid index futures. they also sell suckers stock, index and future options but they will NEVER buy options.
funds that buy options are geared towards one thing only, making the clients money last a long time so that the fund manager who usually participates in commissions gets rich off those commissions or rebates given back to the manager as a reward for churning the funds suckers. the entire history of delirious posting has been a big scam.
pictured also are the studies i posted you can see where the noise is at and where the moves are strong enough that you can expect some continuation.
in other news: delirious is starting a fund lol
just the fact delirious states he is starting a fund but says he doesn't need the money and he is not advertising lol omg this is classic bullshit scammer tactics.
complete proof enough that he is a slick scammer, professional traders who are profitable never buy options they only sell them to suckers.
buying options is for people who are scared of actual underlying market and have hope and luck as their trading methodology. the only people getting real happy are the ones collecting commissions and selling options.
real professional top performing traders trade highly liquid index futures. they also sell suckers stock, index and future options but they will NEVER buy options.
funds that buy options are geared towards one thing only, making the clients money last a long time so that the fund manager who usually participates in commissions gets rich off those commissions or rebates given back to the manager as a reward for churning the funds suckers. the entire history of delirious posting has been a big scam.
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Hello,
@humbletrader2016 and @volpri
You both trade intraday like me on smaller timeframe chart.
Question please:
1. Do you consider the dynamic support and resistance throughout the day that occur when it involves your trade setups and trade management? Or is that completely ignored.
Just asking.
@humbletrader2016 and @volpri
You both trade intraday like me on smaller timeframe chart.
Question please:
1. Do you consider the dynamic support and resistance throughout the day that occur when it involves your trade setups and trade management? Or is that completely ignored.
Just asking.
Great trade and good money. Thanks for showing
Without sharing your strategy, please share your thinking as what made you stay in this trade as initially the trade went against you? Was it your stop loss placement big enough for this setup?
You can just simply respond with "my indicator tells me when to reverse trade"
what are you using for s/r i just assumed you were using floor trader pivots etc?
Hello MarkBrown,
I think I am overcrowded my chart, makes it hard for decision making.
I use support and resistance I draw on the 1 hour chart, yesterday previous OHLC, and daily pivots. I also draw support and resistance daily in the morning before trading and throughout the day.
I rarely got distracted while in baiting mode during old days. Yesterday, I got distracted while posting & reading on here. Otherwise, should I excuted my trade at the right moment I would have gotten out before market close for 8-point of profit. Since I went in late and macro pictures told me this rally was exhausted, I decided to hold onto to it. Because of that mistake, I ended up to make only one trade instead of two within last two days.
Btw, I never used 1-min TF to trade. Just to show my entrance and exit point on here. About your question, I rarely make a trade based on any S/R from any TF, but I do use S/R from macro TF to exit my trade with an emphasis on scalping techniques.
If you really understand your trading system and know it well inside out, you become confident enough to realize that the probability for it to occur again next time is very likely (which you could see from those screenshots I posted since yesterday and today). Otherwise, you know that you must cut your losses from the same TF once it reversed which is very rarely to happen. The reason why I decided to get out this morning is because price touched one of major S lines from a macro TF for the first time, which is a clear sign for me to protect my profits.
P.S. I'll stop posting while in hunting mode from now on since I've to handle few accounts at the same time.
Thanks humbletrader2016,
Yes, please focus on trading two accounts so do not make any mistakes. And I know you trade for 15 hours per day, that is good because you just never know when the money will come your way. I work full time job, so I am only limited to the mornings for about 2 hours.
What does macro TF mean?
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macro time frames.
You see. My trading methods and setups are completely different than yours. I used to use your method to trade more than a decade ago, but I was not able to trade well. I read many books and online posts which seemed to suggest that such method worked very well, but no matter how hard I tried I couldn't make consistent money out of it. So, I ended up to build my trading system to trade setups which took another decade to develop and track to get to where I'm these days. Those screenshots I posted on here is just a small part of what I have in my trading system.