Re: Scalping the DAX (SIM)
Out of curiosity, how many S/R setups you get in a avg day? 2? 4?
Out of curiosity, how many S/R setups you get in a avg day? 2? 4?
Why aren't you looking for set ups at Support and or Resistance?
Look for Volume coming into them. Fade it---unless it gaps through or convincingly breaks it.
For divergence you need a couple of new low/highs...yeah?
By the second one that has rolled back into the old range you should already be thinking about the possibility of the next one being a fail and a bigger chance of a change in trend on the higher time frame, then again you really have two plays. A possible new and extending breakout or a change, both should be played at the outside of ranges before so called confirmation.
Scalping = have an idea = get the position on the turn.
yeah I don't take much use of it, I want my positions with the other who are causing the divergence not with those that have noticed it after its happened. What you want to look for is how the book is refreshed after the first bit has been hit, especially how its filled back up towards the end of the bar/period.
No you will always see them. What do they mean? Nothin'- you would be surprised not to see them.
yeah........ I guess. After TA doesn't work. I've stated that before.....
Why aren't you looking for set ups at Support and or Resistance?
Look for Volume coming into them. Fade it---unless it gaps through or convincingly breaks it.
Out of curiosity, how many S/R setups you get in a avg day? 2? 4?
Out of curiosity, how many S/R setups you get in a avg day? 2? 4?
IMHO the correct squiggly line to use here is not a single parameter indicator/filter but rather a non-parametric adaptive filter. These track trending/ranging well without the requirement of back-fitting the filter using yesterdays data (and hoping it sticks for todays data).
Let's say you are running it on the 5 min, you can drop to the 1 min and attempt to enter swings which would move the filter on the 5 min. This is a well known scientific method for forecasting time-series which are random or pseudo-random.
Take a look at John Ehler FRAMA (my favorite) as well as MAMA.
http://www.mesasoftware.com/technicalpapers.htm
It might work differently in the index futs (perhaps inverse), but I am doing something very similar to this when I trade forex intraday.
I slapped a MAMA on the chart Sinner but it quite tight, not sure what its telling me. I had though that an optimised MA would have been kind of kool but its not really that nessesary is it.
I use a 1 min chart.
Im not scalping.
Swing trade. If I get a good run
20- 30 ticks Ill call it a night.
Only trade FTSE and DAX for an hr or so.
Here is the FTSE and this is 4 trades in 1 hr.(had it saved in piks).
I don't know. I do 50-100 trades a day from support/resistance- just about all of them fades. To me support and resistance is not a here and there for the day kinda thing. I like Franks idea - support and resistance is dynamic and moves with time. Once you can see this the day is full of trades. IMO.
I've had a bit of fun on the sim today. This was my last effort on the 16th. I got caught trying to fade the big move....typical amateurish behavior...
on the upside, now the amateur angle has been perfected, the pro angle is your obvious next step
what is the average length of time of each loser
what is the longest time of a loser
what is the average time of the winner
what is the longest time of the winner
I'm too old for reading these bloody books.
CanOz
......
I can now notice these things, where as before it was just noise to me.
Well I've had an interesting day trying to read the DOM on the HSI and the Dax. So far I can now notice:
..when, to the tick a big order hits the bid or offer and stops move dead in its tracks.
..when selling into a drop in the market dries up and buyers step in
..when the market is likely to move as a result of a buy or sell order not moving the market in the opposite direction.
..when the selling or buying is being absorbed by the limit orders...
Like I said I can now notice these things, where as before it was just noise to me.
Cheers,
CanOz
this is the journey to reading with price rather than behind .......
sounds good, Can ....keep us aprised
Thanks mate, the three months of reading the time and sales when I first started has really helped too. This must take months of screen time to be able to hone into a money making skill Tech.
This is the first time that I feel progress has been made.
CanOz
Interested in your progression.
I remember looking at T/H's Scatter chart which is on the boards here somewhere.
At the time I noticed no real edge 50/50 ish.
I remember commenting that his profit on that chart came from a few much larger moves in the day.
The rest sort of cancelled each other out.
(Not having a go here).
Tech you clearly don't know that the CFD at the time had a 2 point spread. Therefore every trade started as a 2 point loser yet my average loss was under 3 points and average win 5.
So cuz ya a duck I'll do the maths for ya,
Removing the 2 point loss to find the actual movement of the instrument,
on Average it moved 7 ticks towards me on a winner
AND less than 1 tick against me,
7:1 hows your trading going over 300 trades? Got those numbers?
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