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My 2nd demo account is about to expire so will have to go live soon
It seems the more I learn the harder it gets
Hopefully these concepts will help for the bumpy ride ahead
I'm in a forex group (whatsapp) which does pretty good discussions on potential trades and I use Trading View.
Other than this thread, can anyone recomend similar for futures (ES)?
Legendary / Stochastic Calculus is not your friend
Experience: None
Platform: Ninjatrader, Python API
Broker: CQG
Trading: S&P, Crude, Gold
Posts: 880 since Oct 2009
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read this starting with the first post by tigertrader. He doesn't post much here anymore but there is an education to be had if you're willing to devote the time to read.
Both Fed Chairman Bernanke’s remarks yesterday and President Obama’s speech last night about his jobs plan; combined, failed to reassure the market that a solution to the country’s economic woes was at hand, and the …
I'm opening this journal as I feel I need a home on FIO to put stuff. As the title implies, this will be a collection of random thoughts, images, posts from other threads, and things I want to keep track of in one place. I post in a lot of places …
Trend Channel Behaviour (major insights)
Effort vs. Result
VSA no demand setup (perfect background conditions)
Classic Wyckoff - Rally back to Ice (setup)
Volume Reading
Unusual Price Action
Multiple Time Frames
In chronicles for 26/10 ES you wrote "especially V-Spike as it is incredibly hard to trade"
How right you are. Day 2 of my live account expedidition and doing well, until the "V"
I completely misread "D" for a weak pullback for next leg down, it was not a weak pullback! and "D" + next bar handed me some valuable trading experience (one I'm sure all good traders have had)
Thanks for the PDF, have printed for extended study.
happy trading
There is one piece of critical information why bar D is NOT a potential trade. Structure; there was a major potential DAILY support area literally a couple of points underneath (the low of bar B in yesterdays Chronicle) This area sticks out like a sore thumb, in addition a few points under there was also another daily support area. Please be careful and make sure that you aware of higher timeframe structural areas, mark them on your smaller timeframe chart before the market opens. Higher timeframe support will nearly (but not always) give a 3 to 5 point bounce, bear this in mind
It is also very wise to never short directly into support or take long positions into resistance. Unless you have an extremely good read. Good luck, glad to hear its going well
Thank you very much for this week's analysis. The recovery on Wednesday was difficult to deal with, as I kept expecting another test or continuation. I wasn't sure at the end of the day if that was sufficient buying to be considered a reversal. But it seems like with today's activity and new ATHs, that it was the case.
The market is fascinating. Have a nice weekend!
"It does not matter how slowly you go, as long as you do not stop." Confucius