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You reminded me of my old trading buddy Chuck. He used weird stuff, based completely on his observations of their characteristics in the market. We called him Jujuman. He used 3 tick stops, and most of his trades were over 30 ticks! I will be very interested in anything you have to say about the markets.
do you have any idea of how or if we can use square scaling on ninjatrader charts? Another plaform has that for gann and geometric applications. Love to make that work on nt. DB
I am not aware of any software that does Gann properly except W59
ES I didnt trade ES today but there were a couple of nice trades based on the 4th bar pivot described yesterday
There was a nice short below the low 1204 (7x 172) to 1197 (7x171) note how the acceleration was on bar 7 with the second vertical line
the next three bar sevens had acceleration and of course the short term top was made a bit higher than the next seven level of 1211 (7x173) On the way up a trade was indicated above the 4th bar pivot at 1206 which gave another 5 or so points.
The 4th bar pivot area became support during lunch and there was another nice trade going long around 14.00 which topped out at 1218 (7 x 174)
There were some 27 points available in these three trades
Now why I didnt trade the ES
As I indicated yesterday I was looking at some help in trading the European session
I watches Perrys video at the weekend and say thank you thank you thank you for sharing
I havent worked out how to import files yet so the setting are a one minute chart with a 5 and a 20 ema
and a 14 DM
I went into Roger Feltons room last week and saw that trades were being made on Gold, Euro and Crude Oil
So I set up those three charts during the European trading session
The first three Euro trades were I think textbook Perry on a one minute chart
and I have got to say after trading a four minute chart for some years a one minute chart is very fast!
I then took a scary Crude Oil trade and wimped out with a small profit although the move was good I bought at 85.86
and wimped out at 85.92 but the trade continued to 86.17
I then traded an even scarier Gold and made $592
So having made a net $955 in a couple of hours I went to bed
I havent posted this to brag but to tell the sim traders out there that these sorts of trade can be done live with cash
and of course to thank Perry once again as these trades would not have been done with out his video
Let's please leave specific discussions about trading methodologies to the rest of the forum in their proper threads, and allow this thread to remain just for general introductions only.
I am very familiar with investments, but am brand new to day trading. A business associate introduced me to day trading some months ago, and the more I have learned about the process, the more interested I have become. Read a couple of books, know just enough to be dangerous. I have very little experience in day trading, but I have picked up a few things.
I think this forum is a good place to get some feedback and to learn more about if day trading is for me. Its a lot harder than it looks...its not a money printing machine. It takes much hard work and discipline and really knowing oneself.
These concepts about trading I never gave much thought to, and like most of the investment public, I used to think you bought what you beleived were good "quality" investments and held them forever....Buy and Hold, Buy and Hold... I no longer think that.
So thank you Big Mike. I hope I can gain much needed experience from you forum.