This is a trade I made.
The left chat is 2500tick chart, the 2nd is 5 min chart, and the right one is 1 min chart.

Another good trade. I made many bad trade, a lot of, trade too frequently, I showed before, and that's my main problem as I said.
The three chart windows time frams are: 2500tick, 5min, 1min:

The morning sesstion, 6 trades, 3 good one.
The red triangles are filled buy orders, the green triangles are filled sell orders.



The afternoon session, 10 trades, only the last one made morning.
It's better than yestoday (less trades than yestoday), working on it, be selective, don't force to trade.

Tonight's(US Day Session) trades.
I controled at the first half of the TR. Then kind of lose control. Both the buyers and sellers are very aggresive, very volatile in real time.




At last, the no brain local spring made the kill.


Lesson: When a trading range forms, and very volatile, be prepared it will last long, wait for one party to be exaulsted, be very selective, trade near the Edge, and a local spring or UT is prefered.

Miesto 

Make sure you start with market structure, trending or ranging. Avoid trading in the middle of a range, trade at the extremes. I assume you've red his book "Trades About to Happen". In the foreword David Weis is quoted saying: "When you go fishin’ in a lake, you don’t just row out to the middle and throw a line in the water. You go where the fish live—around the edges and near the sunken trees. Same way, you enter trades near the edges of congestion zones, where bulls or bears are so exhausted that a small amount of pressure can reverse a trend.” Look for springs in an uptrend or at the end of a downtrend in an accumulation phase. Look for upthrusts in an downtrend or at the end of an uptrend in a distribution phase. See " The Wyckoff Method: A Tutorial \ Wyckoff Schematics"

Thanks again. Mr Weis said he does not see a tranding range in the traditional SMI way, ie Phase A-E, SC, AR ST etc...
So How do you comment his approch? I think the labelling will reduce my trading frequency, even prohibit me to trade in Phase A and B, and take the best trades in Phase C, esp in hindsight. But you know, in real time, the label may not be corect, that's the Dilemma. While the Diomond Sutra taught us, do not attach to forms. So what's your opinion? Thanks.

jiaqiangmit 

Tonight's(US Day Session) trades. I controled at the first half of the TR. Then kind of lose control. Both the buyers and sellers are very aggresive, very volatile in real time. Attachment 343806 At last, the no brain local spring made the kill. Attachment 343807 Lesson: When a trading range forms, and very volatile, be prepared it will last long, wait for one party to be exaulsted, be very selective, trade near the Edge, and a local spring or UT is prefered.

This is what happened latter.

jiaqiangmit 

Thanks again. Mr Weis said he does not see a tranding range in the traditional SMI way, ie Phase A-E, SC, AR ST etc... So How do you comment his approch? I think the labelling will reduce my trading frequency, even prohibit me to trade in Phase A and B, and take the best trades in Phase C, esp in hindsight. But you know, in real time, the label may not be corect, that's the Dilemma. While the Diomond Sutra taught us, do not attach to forms. So what's your opinion? Thanks.

In my opinion it's most important to be flexible at all times and indeed not to attach to any form. Anything can, and will, happen (David used to quote Mark Douglas).

Not every range forms an SMI accumulation/distribution pattern/labeling but every SMI accumulation/distribution pattern is a range. Ranges can take different forms but always will have a high (supply zone) and a low (demand zone). A range forms when buyers overcome sellers at the low of the range and sellers overcome buyers at the high of the range and that's what we can observe.

It's not so much about the pattern and/or the labeling (and their rigid follow up). Important is what price action is telling us about the buying- and selling pressure so we can go with the strongest party.

I would not limit myself to just the SMI labeling because this pattern is too rare and will give you too few trades (especially when trading just one instrument). You can buy a spring in an uptrend or sell an upthrust in a downtrend and not wait for a range to form. You never know in advance if a range (like accumulation or distribution) will form so it's no use to wait for it but when it forms one can trade it.

If you keep in mind whether the market is trending, ranging or reversing and in case of ranging concentrate on the range extremes (buy at the low and sell at the high) I think you will be good.

And yes, it's easy to recognize a pattern in hindsight, but it takes a lot of practice and mental strength to trade it real time.

I read an interesting sentence in a book recently. 'First you have to learn where to trade, then decide how to trade'

I sometimes think a trader is like a police detective, adding together the clues before trading.

I like a bit of Weiss but you have to adapt it to suit yourself.


02 Sept 15..5min Reversal Gravestone Doji

Miesto 

In my opinion it's most important to be flexible at all times and indeed not to attach to any form. Anything can, and will, happen (David used to quote Mark Douglas). Not every range forms an SMI accumulation/distribution pattern/labeling but every SMI accumulation/distribution pattern is a range. Ranges can take different forms but always will have a high (supply zone) and a low (demand zone). A range forms when buyers overcome sellers at the low of the range and sellers overcome buyers at the high of the range and that's what we can observe. It's not so much about the pattern and/or the labeling (and their rigid follow up). Important is what price action is telling us about the buying- and selling pressure so we can go with the strongest party. I would not limit myself to just the SMI labeling because this pattern is too rare and will give you too few trades (especially when trading just one instrument). You can buy a spring in an uptrend or sell an upthrust in a downtrend and not wait for a range to form. You never know in advance if a range (like accumulation or distribution) will form so it's no use to wait for it but when it forms one can trade it. If you keep in mind whether the market is trending, ranging or reversing and in case of ranging concentrate on the range extremes (buy at the low and sell at the high) I think you will be good. And yes, it's easy to recognize a pattern in hindsight, but it takes a lot of practice and mental strength to trade it real time.

Thanks, that's true wisdom, experience from readl trades.

ragic 

I read an interesting sentence in a book recently. 'First you have to learn where to trade, then decide how to trade' I sometimes think a trader is like a police detective, adding together the clues before trading. I like a bit of Weiss but you have to adapt it to suit yourself. 02 Sept 15..5min Reversal Gravestone Doji

Hi Ragic, this is what I think, pls see the pic.