Joey's MP Journal

This is a discussion on Joey's MP Journal within the Trading Journals forums, part of the Reception category; thanks, sorry to hijack your thread a wee bit there, but i knew you'd be the one guy to understand, ...

Closed Thread
 
LinkBack Thread Tools Search this Thread
Old Aug 13, 2008, 6:32pm   #141
 
rathcoole_exile's Avatar
Joined Jun 2007
thanks, sorry to hijack your thread a wee bit there, but i knew you'd be the one guy to understand, our trading methods are so similar :-)
__________________
my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E, is it because you shout?'
rathcoole_exile is offline  
Old Aug 13, 2008, 6:34pm   #142
Joined Mar 2005
Joey25 started this thread
Quote:
Originally Posted by rathcoole_exile View Post
thanks, sorry to hijack your thread a wee bit there, but i knew you'd be the one guy to understand, our trading methods are so similar :-)
no, please do!
Joey25 is offline  
Old Aug 13, 2008, 6:35pm   #143
 
rathcoole_exile's Avatar
Joined Jun 2007
it's also a hats off to captain currency - i've been teaching one guy this week how to trade the 3 ducks, and so i noticed that 1277 was the point where a Stop Sell order would be triggered for the 3 ducks to all line up south :-) having all been pointing north up until the middle of last night



(my night being your day, or more specifically the US daytime, for those people who don't realise i'm in the Far East)
__________________
my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E, is it because you shout?'
rathcoole_exile is offline  
Old Aug 13, 2008, 9:12pm   #144
Joined Mar 2005
Joey25 started this thread Trade 1: Overnight Point of Control (1291.00)

Sold at 1290.75
Stop at 1293.00
Exit at 1293.00
Gross p/l = -2.25

Agonizing, as it fell short 0.25 from the target! I think this just has to be accepted as part of trading, especially as I'm very keen not to cut the winners short.

Pleasing to see a reaction off the OPOC.

Additional note: A great reaction off the DPP. This is looking like it may be my "bread and butter" trade, a trade with staggered stops and targets. As with cards, the true "edge" lies in the ability to vary the bet size according to the hand or setup dealt.

Last edited by Joey25; Aug 13, 2008 at 10:18pm. Reason: added note on DPP
Joey25 is offline  
Old Aug 14, 2008, 10:04am   #145
Joined Mar 2005
Numbers for use August 14th

Joey25 started this thread 1382.33 (Weekly R3)

1343.25 (Resistance)

1330.58 (Weekly R2)

1328.75 (Resistance)

1316.75 (Resistance)

1311.42 (Weekly R1)

1310.00 (Resistance)

1284.50 (Daily Point of Control & Daily Pivot Point)

1278.83 (Weekly Pivot Point)


1276.75 (Support)

1259.67 (Weekly S1)

1227.08 (Weekly S2)

1175.33 (Weekly S3)
Joey25 is offline  
Old Aug 14, 2008, 3:43pm   #146
Joined Mar 2005
14th August Overnight Session

Joey25 started this thread Overnight Point of Control = 1286.75

Overnight VAL = 1284.75, in line with Daily Pivot Point and Daily Point of Control

Data spike Single Prints end at 1279.25, in line with the Weekly Pivot Point

See chart attached
Attached Thumbnails
14thaugovernight.jpg  
Joey25 is offline  
Old Aug 14, 2008, 5:08pm   #147
Joined Mar 2005
14th August Trade 1 / End of Day

Joey25 started this thread Trade 1 Daily Pivot Point (1284.50)

Sold at 1283.50
Stop at 1289.00
Exit at 1285.25
Gross p/l = -1.75

Insufficient capacity for next trade, so end of day.

Good clean reaction off the level, indeed suffered a bit of slippage today with the market order entry.

The more I get to see of Points of Control, the less convinced I am. There was a brief stall at the OPOC, but nothing more. The main problem, as I see it, is that the market reacts to the highs and lows of time periods, and unless the last resistance or support was a move out of the POC, the POCs won't correspond to a high or low.

I'm going to return to using only Weekly Pivots, Daily Pivot Point, and MP "New Beginnings" (which sometimes correspond to POCs, but not always). There's nothing worse than using up bullets on a "weaker" setup.
Joey25 is offline  
Old Aug 14, 2008, 8:26pm   #148
 
rathcoole_exile's Avatar
Joined Jun 2007
deMark

Joey,
i've been investigating deMark pivots as well as camarilla, in addition to the standard floor trader PPs.

look how well today's action corresponded to deMark.........but, since I was in the pub and didn't have chance to update my charts, these are YESTERDAY'S pivot points !!!!! hmmmmmm................ curiouser and curiouser .....


(dashed upper and lower lines are deMark Hi & LO, dotted line is deMark Pivot Point..)
Attached Thumbnails
hmmmmm.jpg  
__________________
my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E, is it because you shout?'
rathcoole_exile is offline  
Old Aug 14, 2008, 11:43pm   #149
 
Vaco's Avatar
Joined Apr 2004
rath, joey

u guys ever tried using rolling pivots where you put 3/5 candles together and do the calculations on the group candle 1 been the open and last been the close, high/low been the top and bottom of the group.

Would also like to know what you guys do to filter down which reversal trades to take and which to leave alone. If its ok with you joey i can post charts. Seeing as the 3 of us are all working around pivot points it might be better to put all our ideas into one thread.
Vaco is offline  
Old Aug 15, 2008, 2:38am   #150
 
rathcoole_exile's Avatar
Joined Jun 2007
Quote:
Originally Posted by Elefteros View Post
which reversal trades to take and which to leave alone.
good question, no simple answer.
i just try to bracket my orders whenever possible so I can go long OR short from a particular PP, depending on where price heads to

regarding the rolling pivots, I know that tradethemarkets offer a Rolling Hourly Pivot tool for tradestation.
i've seen it in action and I believe it's quite useful, but I have never added it to my toolbox ...... yet .....
__________________
my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E, is it because you shout?'
rathcoole_exile is offline  
Closed Thread

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
say hello to my little journal gozinsky Trading Journals 13 Sep 27, 2011 10:37pm
LBranjord journal lbranjord Trading Journals 8 Jul 10, 2008 9:06pm
My forex Journal honasona Trading Journals 1 Jul 26, 2007 11:02pm
YM journal frugi Trading Journals 297 Mar 30, 2007 1:12am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)