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I work better with a 8k volume chart vs. a 5 min, especially overnight.
Limit orders work best to initialize entry and minimize risk in range bound markets and Stop orders can be used after a limit initialized order to add contracts to trending markets.
The Buy Sell Volume Indicator can be separated into trade sizes represented by different colors and used to either scalp range bound price action or stay in a trend: Shown asTradeSizeAnalyzer (TSA) on the chart.
Made 2 trades today, a buy last night I tried following with a 5 min chart and got stopped out. Should have identified risk based on the 8k vol chart. Market made a higher low & I shorted near the top of the range and was stopped out. Hope to make use of what I learned today, from this point on.
Got into a short late because of the difference of appearance of the same chart on different computers. On NT 6.5 the chart gave a clear Al Brooks failed break up, it did not look like that on NT7. I saw a posting about this earlier on another thread but could not find it again.
I have a question about some of the indys you use. On the DOM bands it seems clear that a short is indicated when yellow and red come together and a long when yellow and blue come together. Im sure you like to see more than that, but isn't that the idea? How do you use/read the other indicators about bid/ask and trade size? What would be the indication you are looking for.
I see you are in SF. I'm down in Mountain View. Did you go see Floored at the Roxie last week?
A picture is worth a thousand words, Or in this case 44 pips.
This is the type of trade that can make your week. The 6 range chart gave some head fakes, but the convergence of 2 trendlines at 1084.50 is obvious in hind sight. This will become a [B][FONT=Arial Black]trading rule[/FONT][/B] for the future. The EMA 20 would serve as a StopLoss and the TLu break and reversal would serve as a sell signal. I actually shorted at this break but bailed at even. Don't let a profit turn into a loss - Another Rule!
I use this indicator to determine if the market can move. Have you looked at the DOM_Bands Thread? This is only a confirming indicator. My primary indicator is a trendline, next is the TSA that Zondor has been refining as well as the rules I posted yesterday.
Found a new Rule this morning:
Watch for low volume areas in the Ladder - Prices can move quickly across them.
This has been one hard week: 1st the medical stuff & not being able to sleep, then the many crashes with 7b8. The DOM based indicators that had errors with 7b8, and rebuilding my charts and ES workspace.
All of the DOM based indicators now run under NT 7b8, thanks Zondor!
Started from scratch and rebuilt my charts. (Mike I'd like this to begin my two week period of not touching the charts starting today.)
Being appointed Moderator - I feel the position is more of a facilitator than referee & will work hard to make sure things are searchable to the best of my ability. Thanks max-td, that was some really good advice and great ideas.
I have learned the hard way. NT 7, like a lot of Windows apps, requires a clean install.
I recommend:
Run a Backup (Files>Utilities>Backup - although it does not always help, can cause problems later)
Save the backup
Uninstall all previous NT versions …
Of old the skilled first made themselves invincible to await the enemy's vincibility.
Invincibility lies in oneself. Vincibility lies in the enemy.
Thus the skilled can make themselves invincible.
They cannot cause the enemy's vincibility.
Thus it is said: 'Victory can be known; it cannot be made.'