Breakout Trading

[DionysusToast]

Amen.

 

[nunrgguy]

Perfect. Take the money right out of the pockets of the break-even boys:clap:

 

[Black Swan]

Perfect. Take the money right out of the pockets of the break-even boys:clap:

The cruelest one liner ever written on T2W? Hat doffed

 

[Chartsy]

did gladiator give you those indicators below dino?

 

[FX Bandit]

Nice examples of S/R flips.

Do you take the break out or wait for the pull back?

 

[Chartsy]

DT i started ES today and so far it seems to really move lurvly and clean on the low tick chart (233) ....much less fugly than 5 minute forex !

 

[wackypete2]

DT i started ES today and so far it seems to really move lurvly and clean on the low tick chart (233) ....much less fugly than 5 minute forex !

LOL.
Yeah, 5 minute forex has been extra fugly lately.
Good Luck with the ES trading!

Peter

 

[DionysusToast]

did gladiator give you those indicators below dino?

No - I had to learn C# to get something I had in Tradestation over to Ninja.

These indicators were the first one's I wrote. The big greenish lump is cumulative delta whilst the one below it is delta and the one above is total volume with green and red representing the proportion of orders initiated by market buys vs sells.

This is using similar info my TS code used and so it seemed like a good way to learn Ninja coding and how it delivered the data.

If anyone wants these, they are free to anyone that promises them a good home.

 

[DionysusToast]

Nice examples of S/R flips.

Do you take the break out or wait for the pull back?

In this scenario, you can get in before the breakout. Lot's of selling and no price move down means somebody is sucking up that selling and if they have the $$$ to do that, they will have the $$$ to move it through the high where their exit orders would be filled against the stops of those sellers.

It's risky as they could quite easily get run over by someone with even more money in which case they'll need to sell and that can of course accelerate any move to the downside. Obviously - you can see the level where someone is sucking up all the selling as it can't get through it & that's where you need to be getting in, or as close to it.

On the upside - this is the ES & as such any buy of the high of the day is a scalp in my opinion as it does have a tendency to pierce the high & reverse back to the low.