OK that was the plugin. Try the standalone player:
http://download.macromedia.com/pub/flashplayer/updaters/8/flash_player_update6_flash8_win.zip
I just tried it. It should work fine.
http://download.macromedia.com/pub/flashplayer/updaters/8/flash_player_update6_flash8_win.zip
I just tried it. It should work fine.
sorry paul, this really is my final words i promise.
but i really feel you have totally over looked capitulation and exhaustion here, im actually shocked you seem not to use it and only wait for 10,5,3,1 min to become ob/os. Exhaustion is not timeframe dependant so im not talking 10,5,3,1 min to get ob/os im talking about pure price exhaustion only hence the shooting star candle or hammer candle or even pin bar.
i already now feel one step ahead of you guys, i was only trying to help you all out from my day i spent with the master himself, i could of course got everything wrong and i can accept this but by posting my view i can only gain knowledge but i need grey to confirm im wrong first so i can gain that insight. I accept i could be totally wrong.
When i was trading with grey the other day he did use exhaustion i know this. Anyway this is a good argument as one way or the other i will be put straight by grey hopefully and i will gain further confirmation or knowledge.
later guys, i hope you all make it and when you do give like greys does. If i make it i will come back and post my live p and l as grey does and i truely promise to help you guys out.
also im purely talking daytrading not swing
but i really feel you have totally over looked capitulation and exhaustion here, im actually shocked you seem not to use it and only wait for 10,5,3,1 min to become ob/os. Exhaustion is not timeframe dependant so im not talking 10,5,3,1 min to get ob/os im talking about pure price exhaustion only hence the shooting star candle or hammer candle or even pin bar.
i already now feel one step ahead of you guys, i was only trying to help you all out from my day i spent with the master himself, i could of course got everything wrong and i can accept this but by posting my view i can only gain knowledge but i need grey to confirm im wrong first so i can gain that insight. I accept i could be totally wrong.
When i was trading with grey the other day he did use exhaustion i know this. Anyway this is a good argument as one way or the other i will be put straight by grey hopefully and i will gain further confirmation or knowledge.
later guys, i hope you all make it and when you do give like greys does. If i make it i will come back and post my live p and l as grey does and i truely promise to help you guys out.
also im purely talking daytrading not swing
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Trader333
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No I haven't because we are not trading exhaustion and capitulation here we are trading market cycles and that is the key difference. Yes we do take note of exhaustion mainly to exit a trade but we are not looking to fade a move based on an exhaustion signal to enter a trade, we are looking for a change in the cycle.
Consistent P&L is all that matters to me and not feelings. If you think you have an edge on me or anyone else then great as I have no issue with that and I am always happy for anyone who can beat the market but I suggest you be careful and just see how you get on.
Paul
Grey1
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As far as stock selection is concerned Paul is spot on ,, you must choose stocks which are weaker than the INDU if you are shorting,,this way you are controlling your risk much better,, easy peasy just run IRAJ N MINUTE CHANGE utility
Now lets go to market direction where the confusion lies
The main criteria for short entry is
a) 1,3,5 OB plus at least 10 min OB and heading down for quick scalp ( this is just trading a correction ) ,,
b) 1,3,5 OB plus at least 10 min OB and 30 , 60 min heading down ( they don't have to be OB ) for catching the reversal ( this is trading a reversal ) ,,
According to cycle theory known in Advance TA ,,, REVERSAL is the result of major time frames all heading in same direction ,,
SO if 1,3,5 and 10 min is OB and 30 and 60 min is heading down already then IT IS VERY POSSIBLE THAT THE PREVIOUS TREND IS EXHAUSTED AND WE GET A MAJOR REVERSAL .. The reversal point often STARTs WITH a SHOOTING STAR or a HAMMER,
This bit I had not discussed in my previous seminar as I thought it only would lead to confusion . The reason I mentioned it during the Friday 's seminar was because i thought the group was ready to move on for further fine tuning . Education is like a LEGO SET ,, you build them BLOCK BY BLOCK,,, The reversal tip I gave on Friday was another learning block.
Now if the board is still unclear i can meet you all on Tuesday at 12UK for 30 min to clarify it ,,
PS:-- reversal does not have to alwaya happen with a shooting star just that when it happens then you are 100% confimed that you are in the correct side of the market which should boost ur confidence and you can even increase ur pos size for Milking the trade.. Remember SHOOTING STAR OR THE HAMMER IS JUST EXTRA CONFIRMATION ,,
I will discuss exhaustion theory in details in my next seminar ,, this theory can be applied for long term investment as well as intra day trading .. for the time being lets stick to the skeleton of my approach please ..
Grey1
Now lets go to market direction where the confusion lies
The main criteria for short entry is
a) 1,3,5 OB plus at least 10 min OB and heading down for quick scalp ( this is just trading a correction ) ,,
b) 1,3,5 OB plus at least 10 min OB and 30 , 60 min heading down ( they don't have to be OB ) for catching the reversal ( this is trading a reversal ) ,,
According to cycle theory known in Advance TA ,,, REVERSAL is the result of major time frames all heading in same direction ,,
SO if 1,3,5 and 10 min is OB and 30 and 60 min is heading down already then IT IS VERY POSSIBLE THAT THE PREVIOUS TREND IS EXHAUSTED AND WE GET A MAJOR REVERSAL .. The reversal point often STARTs WITH a SHOOTING STAR or a HAMMER,
This bit I had not discussed in my previous seminar as I thought it only would lead to confusion . The reason I mentioned it during the Friday 's seminar was because i thought the group was ready to move on for further fine tuning . Education is like a LEGO SET ,, you build them BLOCK BY BLOCK,,, The reversal tip I gave on Friday was another learning block.
Now if the board is still unclear i can meet you all on Tuesday at 12UK for 30 min to clarify it ,,
PS:-- reversal does not have to alwaya happen with a shooting star just that when it happens then you are 100% confimed that you are in the correct side of the market which should boost ur confidence and you can even increase ur pos size for Milking the trade.. Remember SHOOTING STAR OR THE HAMMER IS JUST EXTRA CONFIRMATION ,,
I will discuss exhaustion theory in details in my next seminar ,, this theory can be applied for long term investment as well as intra day trading .. for the time being lets stick to the skeleton of my approach please ..
Grey1
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Grey1
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ON Friday I Moved on to explain what the difference between Reversal and Correction was,
I did say
1) correction is for scalping and reversal is for letting the profit to run . In fact experienced traders say correction is not worth trading reversals are.
2) During the correction the trend has not exhausted, but at Exhaustion the trend has come to end.
3) Shooting star or a hammer is the price reaction to the end of the trend only and only if the trend is OB or OS.. IN another word shooting star on it is own does not mean exhaustion ,, and only has meaning coupled with OB situation ,,
4) you must let profit run if you catch a good exhaustion ,, This is vital . Take profit off the table fast during the correction trading .
Grey1
I did say
1) correction is for scalping and reversal is for letting the profit to run . In fact experienced traders say correction is not worth trading reversals are.
2) During the correction the trend has not exhausted, but at Exhaustion the trend has come to end.
3) Shooting star or a hammer is the price reaction to the end of the trend only and only if the trend is OB or OS.. IN another word shooting star on it is own does not mean exhaustion ,, and only has meaning coupled with OB situation ,,
4) you must let profit run if you catch a good exhaustion ,, This is vital . Take profit off the table fast during the correction trading .
Grey1
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yes sir .. For day trading we ignore higher time frame as they lag .. ONLY 1 min
Thanks
pedro01
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Iraj
When you talk about exhaustion, you mention shooting stars & hammers where the real body is relatively small in relation to the shadow.
Would you consider other candlestick reversal signals to be as strong as these signals ? For instance, the attached daily chart of Teradata showed a day on Friday where there's a piercing pattern after a fairly large move down on the prior day. This has a much larger real body than shooting stars or hammers. I am just trying to get it clear in my head when I can call 'reversal' vs 'correction' to a reasonable degree.
Also - when trading on higher timeframes for swing trading (3 days), can a top down approach still be used e.g. checking weekly/monthly MACCis for confirmation or are these timeframes too long to be of use ?
BTW - I have read your post in another thread which talked about swing trades on MACCis but higher timeframes weren't mentioned.
Cheers
Pete
When you talk about exhaustion, you mention shooting stars & hammers where the real body is relatively small in relation to the shadow.
Would you consider other candlestick reversal signals to be as strong as these signals ? For instance, the attached daily chart of Teradata showed a day on Friday where there's a piercing pattern after a fairly large move down on the prior day. This has a much larger real body than shooting stars or hammers. I am just trying to get it clear in my head when I can call 'reversal' vs 'correction' to a reasonable degree.
Also - when trading on higher timeframes for swing trading (3 days), can a top down approach still be used e.g. checking weekly/monthly MACCis for confirmation or are these timeframes too long to be of use ?
BTW - I have read your post in another thread which talked about swing trades on MACCis but higher timeframes weren't mentioned.
Cheers
Pete
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Hi Grey1
Thank you for helping to clarify this. Tuesday at 12UK would be good for me.
Cheers
Steve
Grey1
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I WILL BE IN THE ROOM ON TUESDAY @ 12 UK time for 1 hour for those who have any questions
grey1
Grey1
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Thanks for your time Iraj.
Can I pls ask that somone please record the Q/A session? I would really appreciate it.
Hi
I have no problems if any 1 wishes to record the day
Grey1
BSD
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Thanks for a great, fun and interesting day on Friday, and for showing us how you trade Grey.
I've always believed that the best and most successful traders are true adherents of KISS and Occam's razor, of believing that other things being equal the simplest solution is usually best, and what can I say, you've just proven the point again !
Charlatans post a lot of smoke, mirrors and other irrelevant and unnecessarily complex mumbo-jumbo, good traders just crack right on down to the few really success relevant factors and get a move on.
Take care and good trading mate !
And, oh, as promised, that bottle of champagne is on call anytime you want.
I've always believed that the best and most successful traders are true adherents of KISS and Occam's razor, of believing that other things being equal the simplest solution is usually best, and what can I say, you've just proven the point again !
Charlatans post a lot of smoke, mirrors and other irrelevant and unnecessarily complex mumbo-jumbo, good traders just crack right on down to the few really success relevant factors and get a move on.
Take care and good trading mate !
And, oh, as promised, that bottle of champagne is on call anytime you want.
Just back and want to add my thanks along with the other guys. I really appreciate you taking the time to answer my questions, Iraj, especially while having to concentrate on the markets and the pressure of making accurate calls. I'm beginning to understand the markets to a much greater depth than I thought I ever would. Like the others, I Look forward to the next seminar.
