Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Didn't end up in the hospital as planned, doc kick me loose with just a med change. Yea!
Wasn't planning on trading, but...
Made 2 trades, should have made a short on the DOM_Bands/RealStats ThrowOver, @1196, but was still groggy. Instead took the MicroTrendline Break Up. Saw Resistance took a quick 2 tick loss and looked for a reentry point. Found one after a really good consolidation pattern. Entered 2 ticks late but felt protected by the T&S action: I color my T&S as to buy, sell, etc. - when I see all one color predominating I enter in that direction if everything else fits. Knew there was resistance above 1196 and felt the movement was capped and took out 7 ticks, Market moved down quickly and went back up & stopped at 1198.50. Taking most of a move fits my rules.
Can you help answer these questions from other members on NexusFi?
After a rough start the smart thing was to run 6.5 for executions and 7 for charting. Duh!
I stripped 7B7 down to what I knew worked and got my broker to let me run 2 feeds. One Live for 6.5 & one in Global Simulation mode for 7B7.
Trades will be executed on my laptop using 6.5 with just ChartTrader and DOM open. 7B7 will run on my desktop.
I really like 7 and hope it reaches its full potential.
For executions 6.5 has always been reliable and never had problems when it was a bare-bones version on my laptop, I even used to trade at Starbuck & FedEx/Kinkos.
I let emotions get away from me today; but I got a good excuse (nothing to do with NT7). First buy @ 1097.50 produced an error. Switched to SIM mode and just pushed 7B7 to see if it would fail. Took a whole day to sort it out but now have separate computers for trading (NT6.5) and charting(NT7B7).
Where are we at right now?
The Range Chart shows several channels all pointing down. Any upside moves are met with selling, volatility is good, as I had previously speculated. Volume is increasing over a larger # of time periods during the 24 hour cycle. Do not seeing it calming down yet. We are Below the EMA(50) at about 1106 on the daily chart and still Above the EMA(200) at about 1050 (cash chart).
Anything can happen. Patience while waiting for good set ups will be rewarded. More volatility and greater average volume per 24 hours leads to more opportunities for trading after hours, allowing avoidance of times having really high volume and volatility, that I do not feel confident trading.
So I am using 2 computers and I found out they are linked through my broker. So trades made on the laptop show up on the desk top listed as External. This is fantastic - no losing my place looking from one to the other.
Trading when you are not at your best is a bad idea. Although I only took a 3 tick loss, I find myself unable to focus after the doc changed my treatment. Went totally manic for 36+ hours and now am drained to the point of distraction.
Answered a question about what I had posted, said pretty close to what ended up happening (thought the markert was going through a zig-zag upward consolidation below the 6 Range TLd) and then went into a daydream about chart patterns and stopped trading.
I missed 2 really good setups: The first a buy @1088, if it was a zig-zag, this was a zag buy. Then the reversal (Al Brooks) with a 1 pip failure @1093. Should have shorted. Look at the volume in the run up - lots of buying but then you see it struggle above 1192. ADXVMA + the trendline would have kept me in the trade - Grade C, at least I did not lose more than 3 ticks
May not trade the rest of the day, depends on how I feel. This will be a problem for at least a month more. But there is no reason to be upset, this is life, stuff happens and the market will still be there when I am doing better.
Been working with Zondor on optimizing the appearance of some of his Indicators. This is one that really allows one to visualize the tape. Since I am a tape reader,I confirm my decisions based on the what is happening in T&S window, this new indicator records the buys and sells and filters them by trade size. Just playing around with the trade size level cutoff I found that 5 & 19 cutoffs provides good discrimination between trades of the big $$$ and small $$$.
At the market top of 1093.25 the buying of the big $$$ dries up. The blue is big buying, the red big selling and so forth decreasing in size.
This indicator has a serious bug that precludes real-time updating... Not going to be posted until fixed. Have to hit F5 every bar to update.