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The M.I.N.D Game
- Thread starter elite34s
- Start date
and "mastering intuition" comes from many many years of trading strict rules in order to get the "feel" for price action.
elite man: I understand where you come from and what you are trying to teach noobs, but trust me, this is a thing to discover themselves, through a lot of hard work and pain.
You will only confuse the already brain damaged ones.
Let alone attract animosity upon yourself.
You will only confuse the already brain damaged ones.
Let alone attract animosity upon yourself.
Pupil 1 Note below - my reply is this :
We will discuss this when the time is right, it is better to learn the basics of profitable trading first. Other pupils can learn from your questions, so please post them in the appropriate thread.
Note:
Time and Sales...resending
Hi,
I read in one of your post in the "Do most traders even have an edge" thread, and you mentioned the Time and Sales.
I'm learning to be a momentum trader and I am currently learning to trade breakouts.
To be honest, I was just focused on looking for the right chart pattern and if it hits a price I would take the risk and trade it.
It hasn't worked out for me yet and I wonder if it was because I wasn't focused on the Time and Sales.
I started focusing on it today and it's very confusing. Depending on the stock, sometimes it prints at a slow pace and on another stock it prints like crazy! Sometimes I get prints that aren't even on the chart and these are prints way out of the spread.
I also started looking at the spread. I did notice that on some stocks the spread would keep opening and then closing back to 1-3 cent spread. Sometimes the spread would open up and there wouldn't be a print. It's like it's dancing.
Umm...what exactly am I looking for when I stare at the Time and Sales and the spread? What do you look for when confirming momentum? Is learning how to read the tape important for breakout trading?
Thank you,
"name deleted"
edit: I am staring at the Time and Sales more again today, but so far I've just seen a few breakouts but they were failed ones. Could I have anticipated the failed ones from something shown on the Time and Sales?
Thank you again
We will discuss this when the time is right, it is better to learn the basics of profitable trading first. Other pupils can learn from your questions, so please post them in the appropriate thread.
Note:
Time and Sales...resending
Hi,
I read in one of your post in the "Do most traders even have an edge" thread, and you mentioned the Time and Sales.
I'm learning to be a momentum trader and I am currently learning to trade breakouts.
To be honest, I was just focused on looking for the right chart pattern and if it hits a price I would take the risk and trade it.
It hasn't worked out for me yet and I wonder if it was because I wasn't focused on the Time and Sales.
I started focusing on it today and it's very confusing. Depending on the stock, sometimes it prints at a slow pace and on another stock it prints like crazy! Sometimes I get prints that aren't even on the chart and these are prints way out of the spread.
I also started looking at the spread. I did notice that on some stocks the spread would keep opening and then closing back to 1-3 cent spread. Sometimes the spread would open up and there wouldn't be a print. It's like it's dancing.
Umm...what exactly am I looking for when I stare at the Time and Sales and the spread? What do you look for when confirming momentum? Is learning how to read the tape important for breakout trading?
Thank you,
"name deleted"
edit: I am staring at the Time and Sales more again today, but so far I've just seen a few breakouts but they were failed ones. Could I have anticipated the failed ones from something shown on the Time and Sales?
Thank you again
Quote from alex.samant:
elite man: I understand where you come from and what you are trying to teach noobs, but trust me, this is a thing to discover themselves, through a lot of hard work and pain.
You will only confuse the already brain damaged ones.
Let alone attract animosity upon yourself.
Hi alex, and thank you for the correct answer.
Order Flow
I am given a specific task to teach those that want to learn about trading the Stock Market for profits.
If I fail, then I will have to explain to certain people;
What I failed in ?
When I failed ?
Where I failed ?
Why I failed ?
How I failed ?
One of the reasons you are failing is because you are trading breakouts. If you studied statistics you'd know that a price that breaks out of a range is an extreme data point, relative to that past data - i.e. the pattern - and is better to be faded. Trading breakouts is the single worst strategy anyone can employ. It seems just about everyone - including myself - begins trading breakouts and fails miserably. If you want to enjoy any shred of success scrap that strategy. It is far and away the lowest probability strategy you can choose.
Quote from elite34s:
Pupil 1 Note below - my reply is this :
We will discuss this when the time is right, it is better to learn the basics of profitable trading first. Other pupils can learn from your questions, so please post them in the appropriate thread.
Note:
Time and Sales...resending
Hi,
I read in one of your post in the "Do most traders even have an edge" thread, and you mentioned the Time and Sales.
I'm learning to be a momentum trader and I am currently learning to trade breakouts.
To be honest, I was just focused on looking for the right chart pattern and if it hits a price I would take the risk and trade it.
It hasn't worked out for me yet and I wonder if it was because I wasn't focused on the Time and Sales.
I started focusing on it today and it's very confusing. Depending on the stock, sometimes it prints at a slow pace and on another stock it prints like crazy! Sometimes I get prints that aren't even on the chart and these are prints way out of the spread.
I also started looking at the spread. I did notice that on some stocks the spread would keep opening and then closing back to 1-3 cent spread. Sometimes the spread would open up and there wouldn't be a print. It's like it's dancing.
Umm...what exactly am I looking for when I stare at the Time and Sales and the spread? What do you look for when confirming momentum? Is learning how to read the tape important for breakout trading?
Thank you,
"name deleted"
edit: I am staring at the Time and Sales more again today, but so far I've just seen a few breakouts but they were failed ones. Could I have anticipated the failed ones from something shown on the Time and Sales?
Thank you again
ok. good luck, but i don't relly see what your gain is out of this.
i wouldn't do it even if i was payed money.
i wouldn't do it even if i was payed money.
ProfitTakgFool: Not so. Depends on the range and the risk:reward. Also, not only range breakouts can be traded, but also breakouts from clusters of support/resistance when trendlines and horizontal S/R converge. Again, the range or cluster size is very important vs the target you are trading against.
Word 1 hints
"The animals in the wild, exhibit this trait"
"not in the correct place !"
"when you join this group, you will be very limited to what you can do"
I admit that I would have never came up with the word ORDER from the hints above
but i do see your comments on reading differently to what is written
moving back to the sixth row after this lesson
"The animals in the wild, exhibit this trait"
"not in the correct place !"
"when you join this group, you will be very limited to what you can do"
I admit that I would have never came up with the word ORDER from the hints above
but i do see your comments on reading differently to what is written
moving back to the sixth row after this lesson
Quote from ProfitTakgFool:
One of the reasons you are failing is because you are trading breakouts. If you studied statistics you'd know that a price that breaks out of a range is an extreme data point, relative to that past data - i.e. the pattern - and is better to be faded. Trading breakouts is the single worst strategy anyone can employ. It seems just about everyone - including myself - begins trading breakouts and fails miserably. If you want to enjoy any shred of success scrap that strategy. It is far and away the lowest probability strategy you can choose.
This is a very subjective subject.
Trading breakouts can be very profitable if you trade the correct stocks, and again, you must have a process to run this section of the business.
Reading the Time & Sales prints, is, in effect, feeling the patients pulse. If you are not a trained doctor, then the pulse of one patient will seem no different to that of another patient, and a wrong diagnosis will more than likely ensue !
Hence, you lose on breakouts on the wrong stocks.