- Messages
- 2,325
- Likes
- 17
100% correct Rossored. 
Skim, what do you think of this?
- Thread starter stoploss please
- Start date
- Watchers 5
- Messages
- 2,325
- Likes
- 17
Stoploss:
My trades won't be quite what yours are. We haven't yet talked about entering at the beginning of the day in circumstances such as today. Short a LL bar is usually the way, but not always - today it would have worked, but often it doesn't, and you need to be at your most flexible in the first few bars of the day.
My trades won't be quite what yours are. We haven't yet talked about entering at the beginning of the day in circumstances such as today. Short a LL bar is usually the way, but not always - today it would have worked, but often it doesn't, and you need to be at your most flexible in the first few bars of the day.
- Messages
- 2,325
- Likes
- 17
I take it you too are having a good day today RR. Nice and relaxing, isn't it? :cheesy:
rossored
Senior member
- Messages
- 2,103
- Likes
- 56
I was just saying those exact same words to another trader on this BB : I actually have kept my 1min chart running but not looked at it at all this week. Went back just now and looked at my entry and I was thinking "woh! No way would I have seen/bought that on the 1min". Plus its so damn messy! The trade above took a while to deliver decent profits but very very relaxing indeed.
Most helpful member on T2W award....Skimbleshanks. No contest
Most helpful member on T2W award....Skimbleshanks. No contest
- Messages
- 2,325
- Likes
- 17
Once you're used to a 5 min chart, looking at the 1 min will be frightening - you just need to have the b*lls to get rid of it for good.
I've only used a 1 min chart once this year - a huge spike down, and I used the 1 min to nail the bottom.
I've only used a 1 min chart once this year - a huge spike down, and I used the 1 min to nail the bottom.
stoploss please
Established member
- Messages
- 780
- Likes
- 10
Skimmy
That fourth bar on the 5 minute chart would have had me sweating wee bit. Well actually it would have had me sweating a lot. I kinda get your entry but I would not probably would go near these plays yet.
Skill and luck. I rate that.
Rossored
How's it going bud.
Your entry looks like a text book entry after a climatic sell off. Is that right.
Cheers
Andy
That fourth bar on the 5 minute chart would have had me sweating wee bit. Well actually it would have had me sweating a lot. I kinda get your entry but I would not probably would go near these plays yet.
Skill and luck. I rate that.
Rossored
How's it going bud.
Your entry looks like a text book entry after a climatic sell off. Is that right.
Cheers
Andy
Last edited:
rossored
Senior member
- Messages
- 2,103
- Likes
- 56
I guess so, SL
Funny thing is, I closed it for +4 (got scared!), then looked back at it right after I'd closed it and re-opened it in the same direction. Contemplated closing it again a bit later, just before it finally went off and delivered some decent points.
Patience ( not a virtue I possess a lot of ) is yet something else I need use in my trading.
Funny thing is, I closed it for +4 (got scared!), then looked back at it right after I'd closed it and re-opened it in the same direction. Contemplated closing it again a bit later, just before it finally went off and delivered some decent points.
Patience ( not a virtue I possess a lot of ) is yet something else I need use in my trading.
- Messages
- 2,325
- Likes
- 17
Lambchops:
I don't subscribe to YM, so I cannot pull up a chart and have a look-see. Going by the Dow there was previous support at 15:00 ET yesterday. So his entry was correct, with a stop just below support. ie, if it was going to go wrong, he would know very quickly for a small risk.
I saw a large head & shoulders forming, and 15:00 ET yesterday and 10:30 ET today were the bottoms of the neckline. So RR took the trade up which looked as if it was going to form a right shoulder.
There's just so much to learn which, unfortunately, only time and experience will tell you. This way of trading is only learnt by your own efforts and observations, and those cannot be taught, merely experienced day in day out.
I don't subscribe to YM, so I cannot pull up a chart and have a look-see. Going by the Dow there was previous support at 15:00 ET yesterday. So his entry was correct, with a stop just below support. ie, if it was going to go wrong, he would know very quickly for a small risk.
I saw a large head & shoulders forming, and 15:00 ET yesterday and 10:30 ET today were the bottoms of the neckline. So RR took the trade up which looked as if it was going to form a right shoulder.
There's just so much to learn which, unfortunately, only time and experience will tell you. This way of trading is only learnt by your own efforts and observations, and those cannot be taught, merely experienced day in day out.
stoploss please
Established member
- Messages
- 780
- Likes
- 10
- Messages
- 2,325
- Likes
- 17
Stoploss:
There's also a head & shoulders sitting within the right shoulder of the large h&s you've marked.
So now we are playing out that one, together with the big one.
There's also a head & shoulders sitting within the right shoulder of the large h&s you've marked.
So now we are playing out that one, together with the big one.
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Hi skim and others
Only read this thread sporadically so sorry if am off the mark a bit till i read through it all...
I get the impression that your showing peeps to read price only and to take a top down approach to looking at the charts... "an unappreciated field of endeavor" (maybe a prize if you can guess the film)
I though that since a lot of peeps follow CM's method an alternative would be to look at the 10 min charts with with a 10 & 100 period ema
Trade the same strat but using 10 min charts.... the 10 period represents the 1 min 100ema... Us the high & low of the bar that cross's the 10ema as your entry and stop/reverse levels and put our feet up..... or just trade the 10 min charts :cheesy:
Only read this thread sporadically so sorry if am off the mark a bit till i read through it all...
I get the impression that your showing peeps to read price only and to take a top down approach to looking at the charts... "an unappreciated field of endeavor" (maybe a prize if you can guess the film)
I though that since a lot of peeps follow CM's method an alternative would be to look at the 10 min charts with with a 10 & 100 period ema
Trade the same strat but using 10 min charts.... the 10 period represents the 1 min 100ema... Us the high & low of the bar that cross's the 10ema as your entry and stop/reverse levels and put our feet up..... or just trade the 10 min charts :cheesy:
Attachments
stoploss please
Established member
- Messages
- 780
- Likes
- 10
Skimmy
Saw that one aswell. Also a small 123 short on the right shoulder of the small H&S.
Saw that one aswell. Also a small 123 short on the right shoulder of the small H&S.
stoploss please
Established member
- Messages
- 780
- Likes
- 10
stoploss please
Established member
- Messages
- 780
- Likes
- 10
Skim
You will have noticed my MAs.Just feeling a bit naked at the mo without them.
You will have noticed my MAs.Just feeling a bit naked at the mo without them.
- Messages
- 2,325
- Likes
- 17
Mr Bomb:
I'm just sharing my experiences of trading ES on price, because I was asked. Therefore I can only talk about what I do, and the way I trade the setups. I use 5 min and 10 min charts which, as RR has appreciated, cuts down on the noise and frenzy of the 1 min.
I'm sure CM's strategy on 1 min Dow could be adapted to a lower timeframe (or should it be higher?), and perhaps that is something you may wish to pursue.
The longer the timeframe the easier it is to trade, in my opinion. My favourite is now the 10 min; a year ago it was the 5 min; the year before it was the 1 min. It's funny how you change as you get more experience under your belt.
I'm just sharing my experiences of trading ES on price, because I was asked. Therefore I can only talk about what I do, and the way I trade the setups. I use 5 min and 10 min charts which, as RR has appreciated, cuts down on the noise and frenzy of the 1 min.
I'm sure CM's strategy on 1 min Dow could be adapted to a lower timeframe (or should it be higher?), and perhaps that is something you may wish to pursue.
The longer the timeframe the easier it is to trade, in my opinion. My favourite is now the 10 min; a year ago it was the 5 min; the year before it was the 1 min. It's funny how you change as you get more experience under your belt.
- Messages
- 2,325
- Likes
- 17
Stoploss:
Sounds as if I need to knit you something to keep you nice and warm, then you can remove that MA. :cheesy:
Yes, your entries are stops are good.
Sounds as if I need to knit you something to keep you nice and warm, then you can remove that MA. :cheesy:
Yes, your entries are stops are good.
stoploss please
Established member
- Messages
- 780
- Likes
- 10
The thing is, I like the 200 SMA as a dynamic area of support if you no what I mean and also, it is easier for some one like me to pick up the trend just by looking at two MAs.
They will go, once you have finished my jumper.
They will go, once you have finished my jumper.
stoploss please
Established member
- Messages
- 780
- Likes
- 10
