YM Traders
- Thread starter volente_00
- Start date
The simplest indicators are the best.
1) Volume past 3 days, does it look right?
2) Are we making highs?
or are we making lows?
The key to understanding the markets is
What may happen, may also not happen.
We may break down, Higher probability, but this can also be a setup to break UP.
To break up, You will need a reversal day to break up to clear up any doubts of heavy players. They want confirmation.
Intraday price action should clearly give you the final answer but you must know what will happen so you can do when it happens.
What most successful traders will tell you
The same setup for a break down, will also be the same setup for a break up. Why is there a break in either way? For break downs, there would be sellers, For a break up, there will be shorters trying to cover quickly because its unexpected. Thats why ralllies are so powerful.
But you also try to think, are we at the start of a rally or have we finished the rally.
Just today I developed a new idea right before christimas eve dinner, I was scaning the charts looking at volume.
I picked up the most valuable idea that can pin point entries to exact burst stages with the help from volume . All this from 1 hour of scanning.
Using volume as one of the main S&R incorporated with heavy price action tools can tilt the success rate of per entry to almost 75-80% with a 1:20 - 1:30 risk reward ratio.
I believe its an early gift from the trading gods.
The chart I was looking at is JBL,
I also went back and backtested this idea over 15 days with 10 symbols. So money. So money.
Work hard huh porgie?
hahahahahaha
you have no idea.
espically when you disregard volume, thats many points off your score already.
Yep, throw off volume and you just lost your view on smart money. Odds definetely favor a slide down Monday in YM. I am already short YM. Hit profit on NQ and ES friday. Fridays bar, narrow spread closing low and made on low volume shows no "smart money" much interested in pushing it on up. If they aren't behind the up move then it will probally head down monday; at least make a lower low. Combine that with the fact that the bar for thur was up bar but on decline volume and you have another indicator of weakness. My 2 cents worth.
CW.................... thinking what might happen even in the next hour for an emini intraday trader is folly.....position trading is a totally different ball of wax.............. mind bias and anticipation are deadly traps for long term success.......volume is okay, but just another distraction for me................I hope Santa Claus is nice to you....one thing I like about you, CW, is you don't cross the line of respect in a personal way......volume is a valuable tool for most, I can't knock success........thank you
let's say my systems tell all of the above without seeing volume in any form...............I know when the run is getting stronger or weaker and that is all volume does for you ..............when the re tracement is just that or a reversal.....i see all that without indicators that are commonly known.......mine are customized and so different than anything I ever hear about or see.........I made a huge mistake of striving for perfection.......and it kept me on a long journey....to the goldmine.............apex recognition is what it is all about..........before the apex is seen/at the apex or entry is so close it is phenomenal with 95% accuracy on the weak days........last 2 weeks 100%......realtime real money........journey ended a few months ago......real time real money...........especially if it is a totally robust system.....1 min to weekly all look the same..........I wouldn't disparage farmers and workers.....try finding food if they quit their jobs............... or having a car/highways/buildings/clothes/turkey sandwiches or billion dollar deals.....no workers no deals........trading is work also....systems developing is 10,000 hours work .....is it worth it........?? perfect system says yes........could 6 of them be sold for a fortune each.....easily............will I? never........one only asks a 3 word question and is over 90% just with a yes answer...YM only........intraday......
Porgie I like your response, and I can see what you mean by apex recognition.
I never need to have to cross the personal line when debating because I have lots of ideas and experience facts to support my ideas that I speak about. Other people just talk about nothing little substance.
Joey,
I was humbled earlier last year for $3000 in one trade,
I never lose more then $70-150 trading $100k lot equities nowadays per trade.
Although I'm just learning like everybody else, I try to advance every single day and constantly refine the methods I have. Adding in new filters /taking off old filters, to increase hit % and lowering stop tick placements.
I traded FDX yesterday with a 3 cent stop lost profitably , If price even ticks 1 tick down, that price action is wrong in certain cases.
Its working very well, very well.
<b>
Merry Christmas to all.
</b>
Hope everybody gets what they want and wished for.
In life you need to know what you want, to become what you want.
Don't just be Hungry, Be Starving.
