If you want to fail as a trader, study TA

[timsk]

Whilst on the subject of time-frames, can anyone point me in the direction of a good discussion on time bars vs. tick bars?

Hi Jon,
I dunno about a "good discussion", but this vid' highlights some of the pro's and con's of each. The narration grates a little bit (to my ear anyway), but the content is explained quite well.
Tim.

 

[jon1971]

Hi Jon,
I dunno about a "good discussion", but this vid' highlights some of the pro's and con's of each. The narration grates a little bit (to my ear anyway), but the content is explained quite well.
Tim.

Nice one Tim, much appreciated.

Jon

 

[Traduk]

Nice one Tim, much appreciated.

Jon

I think the vid is quite old.

The e-mini S&P will often grab the 1 tick stops because players know they are there. They rarely get any further but gun for one. I never use 1 tick because there's nothing worse than being the last mug.

Tick charts are somewhat meaningless as they only measure flip\flops between bid and ask with no relation to size. Constant Volume Bars measure trades actually done and create bars according to volume settings and portray movement (by length relative to price). The data can by stripped out to create a histogram of the ticks that made up the volume in each bar but having done it I found no value in it.

He is right though in his statement about turns. The e-mini turned yesterday on a spike bottom rejection and left the mother of all tailed candles at the bottom. The stop on time based bars was miles away.

Jon, reply later.

 

[The Expert]

I was going to ask you if you got in on that. Was just looking at it today. It would have been pretty tough as a day trade because of the gaps, but as a swing trade that was pretty nice. I have no clue why you thought it might go up beforehand, but nice call. Now if you tell me you entered it before April 7th I'd really be curious as to why.

Why did you have a beaten-down, low-priced, range-bound stock on your watch list? What brought it to your attention?

I had no intention of trading it until, I think it was DT or someone else that brought it up, or maybe it came up by way of discussion, anyway, it was when I looked at it that I saw what might occur in the not too distant future

So, I pointed out, that PALM was setting up for a swingtrade, and, at the least we must be prepared for it when it happens, which of course transpired as I said it might

Think about this.

2000 shares of PALM at $3.75, with a stop at $3.45 is only $600 risk.

Target of $5.75

Gain = $2.00 per share or $4,000

Any day you risk $600 to make $4,000, and it works out, well, is a good day

Of course, you must be willing to lose the $600 in the first place, else, you will only end up panicking and either losing money or making a very small profit, which, is also losing money as it is now a lost opportunity

TE

 

[The Expert]

*


- remove all indicators from your chart:clap::clap::clap:, set the chart to h4, candle sticks

- add a simple moving average with period 3 and shift=3. this holds some power: You know 3 bars earlier, where to get out! Furthermore, ma does not forecast, but tells you what goes on right now. It shows defined reality(*) within the confines of your current view.

- look at the chart for a while to get familiar. Zoom in mentally and look at every single candle from left to right.
- look how each candle compares to the previous one, where it opened, where the previous bar opened and closed and where the highs and lows have been. That's important.

- at this time start learning to ignore the current candle! Picture, that every red candle looked like a green candle and mentally follow the shadow. Picture that a red candle in the middle started at the opening, was green for some time and then suddenly became red. Other scenarios apply, the closing is what counts.

- next: Picture the above the other way around, when green candles with lower lows looked like a down candle but finally became green. Hmm. Keep wondering.

- now it's time to take a look at the current candle. On a 4 hour chart you click once every 4 hours at max. Start observing. Just looking. If you feel you have to trade right away for whatever reason, turn off your computer a watch a movie, get some ice cream or do something else.


The current candle is not closed; anything can happen - and usually does.

Trade with your eyes wide open!

te

 

[MacAttack]

So, I pointed out, that PALM was setting up for a swingtrade, and, at the least we must be prepared for it when it happens, which of course transpired as I said it might

2000 shares of PALM at $3.75, with a stop at $3.45 is only $600 risk.

Target of $5.75

Gain = $2.00 per share or $4,000

Any day you risk $600 to make $4,000, and it works out, well, is a good day

Of course, you must be willing to lose the $600 in the first place:

TE

Was the trade entered because of the price movement on March 22nd?

 

[The Expert]

Was the trade entered because of the price movement on March 22nd?

No, on April 1st

The Expert is a FOOL, and he loves every minute of it

TE

 

[The Expert]

Let us ponder for a moment!

The PiP coach, fee charging no doubt, has posted the greatest load of rubbish about trading that you will ever find

You do not have to examine anything in detail, for that will only confuse YOU

You LOOK where the price is now, what the volatility is, which is no more than the height of the bars, and, then you use one of those famous cliches that have been memorized.

I bet you very few remember the cliche

BUT, if you had memorized it, you could have made a nice low risk swing trade on PALM, for a nice $2 profit:clap:

TE

 

[MacAttack]

I have a lot of new info in my head. I'm sure I have it memorized in there somewhere. I see the price opened even with the previous day after some extremely narrow days and price closed at it's high. A narrow range is usually followed by a wider range? The volatility for the past few days was probably about zero, so my guess is you saw the price break out of that low vol period, but still it seems like you wouldn't have entered until around 4 or so.
I'm just guessing here. Like I said my head is jumbled with new info right now.

 

[The Expert]

Time for the childish bit

Look you must, but not with lust:cheesy:
What you see, is not what be
Know that this, and that, no do
Use the chime, that is a rhyme

TE

 

[The Expert]

I have a lot of new info in my head. I'm sure I have it memorized in there somewhere. I see the price opened even with the previous day after some extremely narrow days and price closed at it's high. A narrow range is usually followed by a wider range? The volatility for the past few days was probably about zero, so my guess is you saw the price break out of that low vol period, but still it seems like you wouldn't have entered until around 4 or so.
I'm just guessing here. Like I said my head is jumbled with new info right now.

ALWAYS have a birds eye VIEW

TE

 

[The Expert]

I have a lot of new info in my head. I'm sure I have it memorized in there somewhere. I see the price opened even with the previous day after some extremely narrow days and price closed at it's high. A narrow range is usually followed by a wider range? The volatility for the past few days was probably about zero, so my guess is you saw the price break out of that low vol period, but still it seems like you wouldn't have entered until around 4 or so.
I'm just guessing here. Like I said my head is jumbled with new info right now.

Why the hell would I WANT TO ENTER AT AN EVEN NUMBER

TE

 

[maiden22]

Teh Sexpest, you are truly a master of lulz.

People are still responding to you!

This has been a very entertaining saga, as well as usefully demonstrating how scammers rip people off over and over again - people are simply desperate, and lose all critical faculties when you dangle the prospect of easy wealth in front of their noses.

Don't ever stop, please. This stuff is comedy gold .

"To discover the location of teh Sexpest, you must find out the whereabouts of teh Sexpest. Teh Sexpest is located in a location known to teh sexpest - teh Sexpest knows where teh sexpest is!"

(All and sundry): "Tell us, oh mighty TEH SEXPEST!"

"No! Only when you become TEH SEXPEST shall ye know TEH SEXPEST" (continued ad nauseam).

Genius .

By the way, are you doing this just for lulz, or are you intending to relieve some muppets of their money with some half-baked system? I hope it's the latter, because if so you should be richly congratulated for a very novel approach.

Love this by the way:

"I only help those who are willing to help themselves, and others".

And the stuff about the ocean - excellent.

 

[jon1971]

Traduk, out with a mate who just came in from out of town... Back on line tomorrow..

 

[Traduk]

I have a lot of new info in my head. I'm sure I have it memorized in there somewhere. I see the price opened even with the previous day after some extremely narrow days and price closed at it's high. A narrow range is usually followed by a wider range? The volatility for the past few days was probably about zero, so my guess is you saw the price break out of that low vol period, but still it seems like you wouldn't have entered until around 4 or so.
I'm just guessing here. Like I said my head is jumbled with new info right now.

TE claims to have used a 30c stop on a swing trade that looks like it lasted ball-park 4 days. Judging by the last time it struggled sideways, just a few days earlier, it gapped down about a dollar which would have made a 30c stop appear like a bargain.

The claimed $600 risk could have easily been $2000 but with such a beaten down stock, why bother because with an entry of $3.75 on 2K shares the ultimate risk is $7500 and its more of an outright punter's buy than a trade.

I feel sure that you are aware that what is being proposed by TE is usually called "catching a falling knife" and is certainly not for those wishing to protect their stake money. Sure sometimes you get lucky and if the rumour mill is working in a punter's favour, a quick time window opens to rush through the exit door. Many beaten down stocks eventually end up going out the exit door but not until the rumour mongers have milked some speculative cash.

I have seen nothing from him that has changed my early opinion and the cautionary label is "for amusement purposes only".

 

[maiden22]

Please give me the respect I deserve or I will make it even more cryptic and only 1 or 2 here will ever get some real value from what I will reveal.

Priceless.

Here's the respect you deserve:

 

[Geraldo]

Not so nice of you mr. Maiden22.... As I may quote Morrisey (The Smiths) It takes strenght to be gentle and kind!......I think Mr Expert dropped some very valuable items, such as the range being valuable. Never heard of it before, nor read it anywhere....... up until now. I suggest we should also add a selection whether to only screen for stocks with high percentage daily moves after the open, or a minor difference from opening prices?

Mr. Expert; i thought the password should be: time efficiency, instead of the other one already .publicated.

 

[maiden22]

The way you have described is nothing but a total waste of time = money

The longer you are in the market the longer your money is at risk.

People will ALWAYS see what they WANT to see:whistling

"Blessed is HE who has not seen, yet BELIEVES"

TE

"I think Mr Expert dropped some very valuable items, such as the range being valuable. Never heard of it before, nor read it anywhere....... up until now."

Glad to hear it. Don't forget gems like the stuff above - no-one should trade without information like this.

All hail the omniscient TEH SEXPEST!

 

[temporarilylight]

I think Mr Expert dropped some very valuable items, such as the range being valuable. Never heard of it before, nor read it anywhere....... up until now.

You being serious?
Have you never visited a trading forum before? The concept of trading stocks (anything in fact) with a good daily range (more volatile) is as old the hills....

 

[MacAttack]

Why the hell would I WANT TO ENTER AT AN EVEN NUMBER

TE

Probably only want to enter at an even number on a pullback I am guessing. Well I'm not too good at figuring out the riddles today. Maybe the trade was based on the narrow ranges on the weekly chart. You took a chance buying at the open because the futures were up and since you had a quarter or so of cushion at close you held it for a swing trade.

That's my new guess............not that knowing about that trade will miraculously change my trading or anything. Just curious.