YM Traders

Volente, got time to answer a question?

I draw trendchannels and s/r-lines, and find both of them very useful. But the real trick to be able to use them with a high winning procent must be to know when they are going to hold or not. I sometimes feel I "know" what´s happening by looking at volume, pace, range of the day etc., but sometimes I´m just lost.

So my question is - what specifically do you look at when price reaches a s/r-level? Is it something on a micro level, looking at what´s happening second by second, or do you already know what you´re going to do in advance?

nice thread,
Stalker
 
Frugi, you use the same set-up as me, bracket trader, ib, sierra, i even have windows xp and zone alarm like you :)

I really like you´re charts, saw one of them a couple of weeks ago and they made me realise that sierra isn´t so bad after all, it was just me who had to put up a little effort. My charts look much better know thanks to you!

I just wanted to ask a question about orders, since this has been worrying me and I´m not 100% sure - If you use bracket trader and IB and your order is filled, the stop is registered on IB:s server right? Just want it clearified...

/Stalker
 
This is slightly off-topic, but here it goes. I've seen lots of discussion about DOM (depth of market). I know what it is, and I even look at it sometimes. The thing that confuses me is that there seem to be traders who actually trade directly off of this information. There are programs that present the DOM screen and allow the trader to click directly on it to buy or sell.

My question is, what are some of the approaches to trading this way? Do you look for a clump of buy orders at some level, and jump in with them since it represents demand? Or is it more subtle than that?

I'm just curious at this point.
 
Look up some posts by FuturesTrader71, I believe he is a DOM/Tape reader. The DAX thread might have some related posts on this topic.


If im not mistaken scalpers mainly use the DOM to judge the rhythm and tempo of the market, thus being able to position themselves when a move starts to form.

-Neo

Quote from stevegee58:

This is slightly off-topic, but here it goes. I've seen lots of discussion about DOM (depth of market). I know what it is, and I even look at it sometimes. The thing that confuses me is that there seem to be traders who actually trade directly off of this information. There are programs that present the DOM screen and allow the trader to click directly on it to buy or sell.

My question is, what are some of the approaches to trading this way? Do you look for a clump of buy orders at some level, and jump in with them since it represents demand? Or is it more subtle than that?

I'm just curious at this point.
More...
 
Volente,
concerning your T-day theory... when you speak of "Indices in the red", do you only mean if the indices go red right at the open, THEN your rules apply? Or can "indices in the red" mean at anytime during the day? Thanks.
 
I really like your charts, saw one of them a couple of weeks ago and they made me realise that sierra isn´t so bad after all, it was just me who had to put up a little effort. My charts look much better know thanks to you!

I just wanted to ask a question about orders, since this has been worrying me and I´m not 100% sure - If you use bracket trader and IB and your order is filled, the stop is registered on IB:s server right?
More...

Glad you like them Stalker, thanks. Took me a while to get them looking half pretty. :)
The answer's yes to your BT question. Once the initial order is filled the brackets are transmitted to IB. You can check your TWS API page to make sure of this.

The only danger, as I said to sandygray earlier, is with limit orders that have accompanying brackets. Until the limit is filled the brackets are not sent to IB. This could be dangerous.

A lovely TICK divergence on the 10:00 high this morning. :)
 
thanks, gotta check that divergence, don´t usually look at tick. I was sitting with my finger on the button to enter short at the exakt high today but i´m still such a chicken :)
/Stalker
 
haha, it´s just the opposite of what you´re saing thunderdog. my only interest is to learn more and then i form my own opinion. if I thought that you hade something i could learn from i would listen to you, and i wouldn´t care if you said you made 1 million dollars a month.
For example I´ve learned a lot from Jack Hershey, who half of the people at ET think is just full of it. Everybody is so ridiculously focused on if he´s lying when he´s saying that he can make this or that amount of money per day, or they backtest his system and finds out it doesn´t generate any profits and so on. But the fact is i´ve learned a lot about volume analyses, trend etc. by following his method. i´m still not sure I believe everything he say but I´m trying to add pieces together and create my own system of believes.
When i try to learn from someone i´m humble, i listen closely and if disagree i sometimes keep it to my self. Why? - because it´s more important to me to learn than to expose my ego...
/Stalker
 
I do think that volente_00 gets a bit too much criticism on this thread. There seems little reason to think that he is leading up to selling something and even if he is, aren't we allowed to make our own minds up? I used to spend time having a go at other posters but it doesn't do anything positive. Some of the critical posters should find something better to do.

So instead of asking why volente_00 is doing what he is doing, why not ask yourself why you are doing what you are doing?
 
Quote from Bigbusiness:

I do think that volente_00 gets a bit too much criticism on this thread. There seems little reason to think that he is leading up to selling something and even if he is, aren't we allowed to make our own minds up? I used to spend time having a go at other posters but it doesn't do anything positive. Some of the critical posters should find something better to do.

So instead of asking why volente_00 is doing what he is doing, why not ask yourself why you are doing what you are doing?
More...


http://www.elitetrader.com/vb/showthread.php?s=&postid=865494#post865494

note the post time..
 
You must log in or register to reply here.
Back
Top