ES Tues 9-20-11

I think we need to start Tuesdays thread on the lighter side.


Me and my shed !!!!! Click on the image to view in "normal" size..

I am sure everyone appreciates your efforts. It is just this Forum does not have instant message indication and your calls are hard to follow in real time.

Tradezilla-dude,

You've got 26+ posts today so far, most lacking much content ... ie. rationale described in ways folks can understand. I concur with Lisa, especially regarding point #1. Perhaps you can set up your own room or Skype-type way for those who desire, to keep up with all of your posts ... many of which are 1 to 2 minutes apart in time. That type of environment might be more effective for you and those who wish to interact at that level.

Apk781 also brings up another good option ... depending upon what your goal is.

MM

Ok, I'll keep the Russell and price reading to myself.. but I'd appreciate some price reading from other veterans because you can't just place a trade just because a level is reached.. You have to wait for momentum to slow and etc and I was hoping my posts will engender some additional inputs, but I understand..

I disagree..not everybody knows the good levels...most know the typical stuff...pivots, previous highs and lows.......many are learning......actually we all are always learning...

Posts and boasts belong on paltalk...not here..we are a humble bunch...but welcome all to share trading ideas..You seemed to be a bit TOO impressed by "AL" yesterday...perhaps finding a room or group that scalps would be a better fit for you Tradezilla..of course if the forum wants scalpers then they should let others know their wishes..

Originally posted by tradezilla

I'm trying to give market analysis in real time and was hoping to hear others do it.. We all know where the levels are but its reading price around those levels that results in good trade decisions..

For me I'd rather have the "teach a man to fish" philosopy.....I prefer to talk about trading concepts that work over time......basically what to look for in market structure......everyone has different risk tolerance so it's always better to stick to ideas and concepts IMHO. Then folks can decide if it is something they can incorporate into their own work.


Just so I don't ramble too much : A friend sent me an excellent book over the summer...some may have already read it but the title is
"one Good trade" . I'm not sure if you can order through the forum but it would be nice to support the forum in some way. A great book filled with great advice by real traders. Good stories too..

I'm def not trying to show off.. My apologies if I come off that way.. I thought I was giving something of value and I explained my reasons for every action but if it is distracting or irritating, then I'll stop.. I'm not a scalper.. as a matter of fact, I'm a position trader that has a pretty decent win rate.. and I'm always out to learn.. I wasn't to impressed with Al as much as I wanted to learn his method as I would anyone because as traders, we should never stop learning.. the education never stops and I'm always all ears with any trader.. the only requirement is that they take$$ out of the market consistently and it looked like Al was, that's all..

Ok Jack, I'll back off from ya.....I think you get everyones point....we'd all be curious in your ideas too...charts always help us understand...I hear ya!

I usually only get 3-4 good trade sets/day and if I miss them, I miss them so I don't over trade, but I do over think.. The market is always full of reasons to trade both ways.. putting it together is the hard part...

Bruce, thanks for the compliment - you and I had the same trade, though my entry was lower than yours (at big short entry on my then Footprint chart) - so you made more money.

I wanted to tell you that I have added VIX to my charts. For some reason I cannot load VIX from Interactive Brokers. But I could get VIX futures , ticker VXZ1. I find that useful.

For example, please check 30-min VIX futures chart below. I entered that short trade when VIX futures hit support at 32 (market hit resistance). I found that confirmation from the option traders (VIX) reassuring; it helped me to hold the trade through the heat I took. VIX at support and lower volume above that big entry helped me to hold that trade.

Hope that is useful. Bruce, if you know the ticker of VIX at IB, please let me know.

You don't want to see my charts as its full of lines all over the place.. ha basically I look for confluence and I have a time factor that forms my biases.. My stops are usually very tight no more than 2 pts unless I really want the trade bad, which usually gets me in trouble from my experience..

Bruce;
If you build again let me know, you can use the guys that built my building ... we even made a video: