Why Is The Obvious Not So Obvious?

[tiddlywinks]

@tiddlywinks,
Just a curious question since u said u have been using SC for 15yrs, def longer than me. Do u use market depth to trade?

My trade signals, triggers, and actions are based on OHLCV, most important being V.

I do not use market depth. I also prefer chart trading vs the using the DOM ladder.
It's yet another, if it works for you, just do you thing.

Unrelated to DOM, but volume based, I do track NAKED POCs (Point Of Control) as potential target prices. Particularly when confluent with certain price geometrics.

 

[M4-1]

@M4-1: Do you vary your bet size based on the timeframe?
(Is a low-risk entry on the 1 min. the same as on the 1H?)

you mean position sizing and all the crap that mr van tharp wrote about

it is like this..i am only interested in one thing..and one thing only..and that is..to hold on to the money i make..by taking it out and adding it to the rest of my money

however..to be more specific regarding trading..when i am trading..which is not now due to summer time.. good weather calls for more important things like gardening..walking the dogs..house maintenance..etc.. trading is not on my agenda at the moment..but i do look at the charts every day on my phone..for the ES and Bitcoin

i start off with one MES contract..might add another depending on what transpires..if i were to sit down to trade the first 1.5 to 2 hours of the US Open..then a more contracts could be traded..but..more risk means more losses as well as more profits..so..it is a bad idea to start trading small and then increase size..as the profits can disappear very quickly..

overall..if you are in the right place..at the right time..then of course one can increase size accordingly..but..best to take it off at the first sign of trouble..no room for wishing.. hoping..or praying.. especially when trading the ES/MES !!

ES xx DT+DB

 

[M4-1]

some say bar..some say jar
with candle wick..just like a stick
but which be best..to beat the rest
the test will be..what you can SEE

some use a way..to look today
at previous bets..by those with jets
for truth be so..to make it grow
one must employ..more than a toy

the jet leaves trail..just like a snail
for all to see..with eyes of glee
but if you use..what can confuse
you will but see..one RN theory

 

[SkyChef]

@tiddlywinks
No, I don't mean DOM, I mean this ...

https://www.sierrachart.com/index.p...ence.php&ID=375#Market_Depth_Historical_Graph

but thanks for the reply.

 

[Laissez Faire]

If you already have a lifetime NinjaTrader license, there's little reason to change trading software unless there is something specific that NinjaTrader can't do. For example, NinjaTrader broker doesn't support Hang Seng Index Futures so many traders will open an AMP Futures account specifically for these Asian Futures. AMP broker doesn't connect with NinjaTrader charting software, so that is an example of a good reason to switch to Sierra Charts (free) for this purpose.

I've been leasing NT8, so I don't yet know it. It seems to me that there are better options than NT, but familiarity and some custom indicators is my main reason for staying with NT for now.

For those interested in price action trading, there used to be a very active HSI journal using only the chart and price action. HSI price action around their open (evening hours when ES is slow) is often very agreeable to common setups like two legged pullbacks. https://futures.io/trading-journals/50250-hsi-index-futures-scalping-experiment.html

Thanks for the heads up. Several members of the forum have in the past spoken highly about the HSI contract suggesting it's a great product for day trading. It's not quite my time zone, so not sure if it's viable. But for US residents it should be perfect.

Our trading optimized servers in Chicago are specifically designed for running critical applications 24/7, and commonly used for lag free chart trading over VPS. Many traders have MT4/5 robots running on it as well. I can help by offering a test server.

Not an option at the moment, but I will definitely keep it in mind for the future. Thank you.

I hope that wasn't too off-topic for this thread.

 

[M4-1]

here is something to think about that no one has picked up on so far!

the horizontal line drawn on the chart..not the last price line..is very important..but..what if instead of a horizontal line the trader use a small box instead..what is the main significance of using the box..as opposed to using the line ?

 

[Pelt]

here is something to think about that no one has picked up on so far!

the horizontal line drawn on the chart..not the last price line..is very important..but..what if instead of a horizontal line the trader use a small box instead..what is the main significance of using the box..as opposed to using the line ?

I kinda thought about this a while back HERE.

I dunno if that is the reason? I mentioned a box implies a time component.

 

[M4-1]

I kinda thought about this a while back HERE.

I dunno if that is the reason? I mentioned a box implies a time component.

not what i had in mind..to be a bit more specific..a narrow box can be more important than a wide box..

the question is:

what is the benefit of using a narrow box as opposed to a single line..it should be obvious

or..use a narrow box WITH a single line..even better

 

[Laissez Faire]

the question is:

what is the benefit of using a narrow box as opposed to a single line..it should be obvious

A narrow box may contain 'noise' and keep you out of the market when the direction isn't clear - whereas a single line may not do so.

Neutral/flat inside the box. Buy/sell above/below.

or..use a narrow box WITH a single line..even better

Same as above essentially.

I'm on page 200 now and my studies came to a halt as life and trading caught up with me, but I'm definitely going to pick up on this thread over the weekend. So, sorry if I miss the 'box' concept completely.

 

[Onra]

not what i had in mind..to be a bit more specific..a narrow box can be more important than a wide box..

the question is:

what is the benefit of using a narrow box as opposed to a single line..it should be obvious

or..use a narrow box WITH a single line..even better

Are you talking narrow in price (vertical) or in time (horizontal)?

And... is the line in the middle of the Box?