Why Is The Obvious Not So Obvious?

[The Obvious]

TO, this is for YOU, to get your head around some of the stuff in this thread.

It is not the holy grail, but will give you an understanding of how some traders follow the big institutional traders, and has some very valid material for daytrading.

I used it in the past, but have since developed my own approach.

PM me for the password, if you can not get it!

J_S

https://www.sendspace.com/file/uzsdz7

J_S, a belated thanks for the above and your words of encouragement. I didn't get the password but daytrading isn't really my cup of tea.

If/when I do get back in the saddle, like you, I will trade individual stocks using only one chart. In my case it will be stocks from the UK FTSE-350 and a simple daily line chart of closing price. Momo certainly makes sense to me.

 

[J_Smith]

Once one understands price..., mkt.., and trading structure - getting there becomes very academic

RN

Agree 100%.

The only thing I will add, is that price can behave differently at certain times, so recognizing these times can be just as important as understating market/price structure.

Again, it all depends on the individual.

J_S

 

[J_Smith]

J_S, a belated thanks for the above and your words of encouragement. I didn't get the password but daytrading isn't really my cup of tea.

If/when I do get back in the saddle, like you, I will trade individual stocks using only one chart. In my case it will be stocks from the UK FTSE-350 and a simple daily line chart of closing price. Momo certainly makes sense to me.

TO, fwiw, my approach is specific to US blue chip stocks, and is based on Institutional trading at the open. I do not know how FTSE stocks behave in comparison, as I have never traded them.

Single line chart can of course be used, same as any chart can be used, but again, I would say it all depends on your objective. Keep in mind you will not see the extremes (high and lows) on a line chart - see 30 min chart of PFE with bar and line for same stock.

it may, or may not be significant, depending on how the stock you trade behaves.

J_S

 

[Mysteron]

TO, fwiw, my approach is specific to US blue chip stocks, and is based on Institutional trading at the open. I do not know how FTSE stocks behave in comparison, as I have never traded them.

Single line chart can of course be used, same as any chart can be used, but again, I would say it all depends on your objective. Keep in mind you will not see the extremes (high and lows) on a line chart - see 30 min chart of PFE with bar and line for same stock.

it may, or may not be significant, depending on how the stock you trade behaves.

J_S

View attachment 162393

Why PFE? It is in the Dow 30 but ADR is low.

In Dow 30 both V and MSFT currently have NRB with ADR>50c by my calcs, so better choice?

 

[J_Smith]

Why PFE? It is in the Dow 30 but ADR is low.

In Dow 30 both V and MSFT currently have NRB with ADR>50c by my calcs, so better choice?

PFE was picked as it is low risk for those who want to consider daytrading 2DHLB, but you are correct MN, as the best approach is to use the overview page and select the best candidates from the list, as they will change on a daily basis.

J_S

 

[Mysteron]

PFE was picked as it is low risk for those who want to consider daytrading 2DHLB, but you are correct MN, as the best approach is to use the overview page and select the best candidates from the list, as they will change on a daily basis.

J_S

View attachment 162663

I don't know what 2DHLB is, but PG had NRB yesterday and expanded a bit today. MRK had NRB today too so will watch what happens tomorrow.

 

[J_Smith]

I don't know what 2DHLB is, but PG had NRB yesterday and expanded a bit today. MRK had NRB today too so will watch what happens tomorrow.

2 Day High Low Breakouts

For intraday trading you can use the NRB setup, but they are far more effective when at or near PDH or PDL.

Set up you favourite stocks with 2 Day mini line chart as in my MT setup, and watch how the 2DHLB behaves.

Unless you have a reference point, you are trading blind, and that can cost you dearly.

J_S

 

[Vindago]

Lately I have been thinking differently on some of the concepts expressed in this thread and applied in my trading (Stock and Forex) and I have had the most amazing winning streak: one Month, no losing day, only 3 (very small) losing trades, average daily gain about 0.8% of my capital.

And all this by just rethinking the meaning of BLASH and SHABL, ADR and the Box...

Have I discovered the Obvious? Who knows and, more importantly, who cares? As long as it keeps working I should be fine as it is, right?

Still, my approach might fail tomorrow, who knows? but WOW, I am amazed as how simple trading can be...

 

[J_Smith]

Lately I have been thinking differently on some of the concepts expressed in this thread and applied in my trading (Stock and Forex) and I have had the most amazing winning streak: one Month, no losing day, only 3 (very small) losing trades, average daily gain about 0.8% of my capital.

And all this by just rethinking the meaning of BLASH and SHABL, ADR and the Box...

Have I discovered the Obvious? Who knows and, more importantly, who cares? As long as it keeps working I should be fine as it is, right?

Still, my approach might fail tomorrow, who knows? but WOW, I am amazed as how simple trading can be...

VO, you might have noticed I am not posting much, reason being, trading is more important than talking.

I will say one other thing, and it is most important if you want to keep seeing a repeat of your recent results, and that is.....

"Stay On The Bus"

If you want to know why you must, then the clue is....

"Helsinki"

and the article has nothing to do with trading, but has to do with painting, and it will be one of the most important articles you will ever read in relation to making money trading.

Have fun

J_S

 

[Unequivocaltim]

Hows bouts this?
2-1, 3-1 really doesn't work these days cause of the volatility.
Enter hard and heavy as price turns, get those 2-5 points and call it a day. Screw all this bs diagrams and diaphragms .