US Markets: Real-time Trading

[Steve Griffiths]

You should know the answer to this already if you had studied the help videos in the members section of the web site ;)

Steve

[d-day]

There is a TS3 sell signal on the AB M7 but it is not coming at the minimum wave C wpt. There is a red reversal bar. Entry would be at 785.70 with r/r 6.5 to 1 at the first WPT. Would I take this trade here, or should I wait to see if price first goes up to the minimum WPT?

Look at your chart right now and you will have your answer!:cool:

[qitrader]

I would just pass on this one. Not a valid signal in my view. But who knows.

[pegasus5]

Similar Setup in NQ 3min..Right now invalid as price has not reached mim wpt box....definitely worth monitoring..

[pegasus5]

Thales..Check your private messages..

[pegasus5]

NQ 5 min...Here is a better looking setup to consider..


It has now "invalidated" No Trade..

[qitrader]

I'm short ER2 786.6. ABC off 3/5 min.

Update: Move stop to +.1R

Update2: Took +2.2R

I'm done for the day and taking off.

Enjoy your weekend everyone!!!

[d-day]

This market needs a defibrilator. This is as flat as I have seen an expiration Friday in ... I don't know if I've ever seen anything like this. I mean, that "sell-off" from this morning, if you can call it that, was hardly a movement. All the market did basically was range narrowly through yesterday's narrow range (I posted a chart of the YM if you are interested)

Of course, narrow is a relative term (look at how profitable that DP trade on the ER2 was for Todd). This had been normal volatility for so long. But for the last 2 days the market has barely managed to travel even 2/3's of a 14 day ATR.

Well, this could be the calm before the storm. Often two or three days like this are followed by an explosive move out of the range.

Now, if one of you guys would just be so kind as to tell me in which direction that explosion will be, I could position myself accordingly and shut down early. I hesitate to do that, however, since that explosion, while unlikely to happen anymore today, might happen at any moment. And when it does, there will be $$ to be made.

[d-day]

YM is a DP buy on either the 1, 3, and 5 with current divergence. Of course, that divergence can very quickly be erased should the market fall apart here. But it won't cost me much to find out.;)

[Todd Morgan]

Possible DP buy set ups in YM and ES 5min.

[d-day]

Drats!

I'll try it again at 12191 and I'll give it two bars on the 3 minute chart to drag me in or I'll cancel the order.

[d-day]

ok, I've done been dragged into it again.

If stopped out again, I will stand down.

[pegasus5]

I'm ES DP @ 1397.25 w/ 1395.25 stop

Here is chart...though no feeling to good about it..maybe S1 holds...

[Todd Morgan]

I shorted the YM 1min bear flag at 12195...12198 stop

EDIT: bailed at 12184....not feeling especially aggressive.
decent 2.6R trade anyway.
Have a good weekend everyone.

[d-day]

I bailed when she couldn't muster enough momo to get back above yesterday's low out for a 2 tick loss. Barring a late day meltdown or an explosive rally from right about here, I am probably done trading for the week.

Still watching ... waiting ... watching some more ... now waiting ...

[d-day]

I shorted the YM 1min bear flag at 12195...12198 stop

I like that trade - it doesn't mean she'll be a winner, but a clearly defined pattern sitting right below a clearly defined resistance level (yesterday's low is now resistance unless price can get comfortable back above it) and thus a clearly established risk point.

[pegasus5]

I bailed on ES..scratch trade...having trouble holding it together..

[d-day]

I shorted the YM 1min bear flag at 12195...12198 stop


That's a $15/contract risk, if this thing gets back to 179 and starts to bounce, don't be afraid to take a little off the table - you'll be looking at better than a 4R trade at that point!


PS I'm not trying to tell you how to trade ... just cheering you on, is all :)

[Todd Morgan]

EDIT: opps ..... 3.6R scalp...not 2.6

I shorted the YM 1min bear flag at 12195...12198 stop

EDIT: bailed at 12184....not feeling especially aggressive.
decent 2.6R trade anyway.
Have a good weekend everyone.

[Todd Morgan]

One more thing....trading these quick little scalps in these small periodicities charts like the 1min would not be possible, at least for me, if it weren't for the killer R:R module within MTP. It's quick and convevient and invaluable. Thanks for a great product Steve.

[Steve Griffiths]

One more thing....trading these quick little scalps in these small periodicities charts like the 1min would not be possible, at least for me, if it weren't for the killer R:R module within MTP. It's quick and convevient and invaluable. Thanks for a great product Steve.

Hi Todd,

No problem, Glad to help and pleased that you like our products :)

Designed by traders for traders ;)

Steve

[d-day]

Hi Todd,

No problem, Glad to help and pleased that you like our products :)

Designed by traders for traders ;)

Steve


Sure ... Todd says it and its "sure Todd, no problem, glad to hear it."

I say the same darned thing and you sick "Mad Dog" Matt Bowen on me!:p

Jeesh. This must be how Rodney Dangerfield felt - No Respect:rolleyes:

Hear's to a safe and happy weekend with friends and family to you all,

See you next week,

D-Day

[jjc]

D-Day,

You're a wealth of information and an asset to this forum.
j


"Sure ... Todd says it and its "sure Todd, no problem, glad to hear it."

I say the same darned thing and you sick "Mad Dog" Matt Bowen on me!

Jeesh. This must be how Rodney Dangerfield felt - No Respect

Hear's to a safe and happy weekend with friends and family to you all,

See you next week,

D-Day"





Keep up the good work D-Day you're appreciated.

j

[jswin]

Sure ... Todd says it and its "sure Todd, no problem, glad to hear it."

I say the same darned thing and you sick "Mad Dog" Matt Bowen on me!:p

Jeesh. This must be how Rodney Dangerfield felt - No Respect:rolleyes:

Hear's to a safe and happy weekend with friends and family to you all,

See you next week,

D-Day

LOL - I never knew trading could be so entertaining. Cheers guys for an informative and very humerous week, and that goes for the regular posters and the great MTP team.

[Steve Griffiths]

Hi Everybody,

Just so we do not lose sight that this is an MTPredictor Forum, here is the result of a standard TS3 sell set-up on the 5min YM from earlier...........

A nice profit of just over 2x the initial risk as the low of the day was made at the first projected profit target............

A great MTPredictor trade though and through.........

Steve

[d-day]

Sure ... Todd says it and its "sure Todd, no problem, glad to hear it."

I say the same darned thing and you sick "Mad Dog" Matt Bowen on me!:p

Jeesh. This must be how Rodney Dangerfield felt - No Respect:rolleyes:

Hear's to a safe and happy weekend with friends and family to you all,

See you next week,

D-Day


Please replace "Hear's" with "Here's"

I don't want our friends from abroad to think that all of us Americans ar stewpid or sompthin.

[jjc]

Hi Everybody,

Just so we do not lose sight that this is an MTPredictor Forum, here is the result of a standard TS3 sell set-up on the 5min YM from earlier...........

A nice profit of just over 2x the initial risk as the low of the day was made at the first projected profit target............

A great MTPredictor trade though and through.........

Steve

Steve,

In my opinion, that trade you posted is about as text book as you can get.

Would you please explain to the class why that is so?

I'm sure they would love to hear it from you rather than me.


j

[Matt Bowen]

Hi David, Todd, Pegasus, Qitrader,

ha ha... No worries, Mad Dog is giving it a rest... he's convinced there are now some profitable traders out there. You guys did a great job here this week. Now you can enjoy the best part of being successful trader: Freedom

Cheers and have a great weekend

Matt

[jjc]

Hi David, Todd, Pegasus, Qitrader,

ha ha... No worries, Mad Dog is giving it a rest... he's convinced there are now some profitable traders out there. You guys did a great job here this week. Now you can enjoy the best part of being successful trader: Freedom

Cheers and have a great weekend

Matt


Mad Dog Matt,

I'm impressed, those meds must be working. :)

As D-Day would say " have a great weekend with family and friends"

Your friend,

j...c ya at the bell

[d-day]

Hi David, Todd, Pegasus, Qitrader,

ha ha... No worries, Mad Dog is giving it a rest... he's convinced there are now some profitable traders out there. You guys did a great job here this week. Now you can enjoy the best part of being successful trader: Freedom

Cheers and have a great weekend

Matt

:):)Peace:):)

[davidh]

Steve - a quick question on the YM 5 min TS3 short you posted above. What was the basis for the exit you show? Was it because it was also a DP that you got out at the point you did? Otherwise I guess it would have been about a 1.3R. Not trying to nitpick, just to understand the 'rules' better!
Thanks

[Steve Griffiths]

Yes, all I was doing was showing the R/R at the first target, what we do when we are evaluating how good the trade a tarde is and whether it is above the 2:1 minimum, which this one was, at that first target.

Steve

[d-day]

Anyone else finding tick and volume charts very slow to load in e-sig, or is it just me?

[garciaal]

Hi Everyone,

I just got my MTP and starting to use it today. I want to make sure I'm seeing everything properly. Does anyone see any setups?

Thanks, Alex

[pegasus5]

Welcome Alex,

Nothing showing yet...your program is not broken..

[garciaal]

Thanks Pegasus,

If you see anything let me know, just so I know I'm on the same sheet of music.

Alex

[Steve Griffiths]

Hi Alex,

Welcome to MTPredictor.

In addition to the usual help videos be sure to take a look at my monthly Seminars (MTP customers only) at http://www.mtpredictor.com/members/MonthlySeminar.html

These will help show what to look for as well :)

Steve

[garciaal]

on ER 5 min I see a DP 793.10 bottom of box?
Alex

[d-day]

Hi Alex,

Listen to Steve ... "Get thee to the members section and watch those videos!"

Also, print out and read and re-read the trading course. I still try to re-read a chapter or two each week.

Good Trading to you,

D-Day

[garciaal]

Steve,
I went thru all the seminars this weekend, with the exception of Aug-Oct 2005 which I will get to today.
Alex

[d-day]

I see the ER2 at a DP but also making new momentum highs. I'm looking to go long on a pull back to about the 792.50 area if it sets up as a bull flag on the 3 or 5 minute chart.

[d-day]

Wow, so much for that! Small caps are strong right now. My gut told me to use the 1 minute chart but I waited for confirmation formation on the 3 or 5 and she took off without me.

[d-day]

Had limit order to go long at 792.80. Looks like I missed getting pulled in by about 3 ticks.

[jswin]

Please replace "Hear's" with "Here's"

I don't want our friends from abroad to think that all of us Americans ar stewpid or sompthin.

It's okay, I spelled humorous as 'humerous' and I had not intended to chat about anyone's thigh bone :)

[d-day]

back to back bull flags on the 5 minute ES - a 5 bar and a 2 bar mini-flag

[d-day]

Well, maybe we'll get a nice little pullback in 3 swing formation here so that we can get an MTP signal for this afternoon's trade - I especially like those that signal right around ____________ PM, +/-

[d-day]

that signal could be a buy or a sell if it happens during that special afternoon window that all MTP users should know about after two or three months.

I don't want to give too much a way to those uninitiated;)

[pegasus5]

Good Day Mates,

Took a short in NQ 1000v chart at failure of R2-3Mid Pivot Line @ 1783 w/1785.50 stop loss.

Covered @ 1779 (see chart)

David

[garciaal]

Ok lets see if I get this correctly.

ES 3 min I clicked on swing high on 3/16 13:24, it painted a DP 1405.75(top of DP) Price came from above into DP and had a blue bar hi of 1406.25,so went long at 3lots 1406.50 initial risk of $300 RR was only1.4.

I took 1 off @ 5ticks, 1@ 10ticks and let the 3rd run for 7.25 points,
totla profit of $550, so my math shows RR 1.8

Now the sad part. It was all on Sim, excuse me I think I have to heave.

Alex

[d-day]

the problem with simulated trading is it uses simulated emotions.

I'm a much braver (and better) paper trader than real trader;)

You'll learn alot more about trading (and yourself) doing 1 lot for real instead 100 lots pretend, in my opinion. But it's your money, and you should watch it well and not listen to an internet blowhards like me.

[d-day]

the problem with simulated trading is it uses simulated emotions.

I'm a much braver (and better) paper trader than real trader;)

You'll learn alot more about trading (and yourself) doing 1 lot for real instead 100 lots pretend, in my opinion. But it's your money, and you should watch it well and not listen to an internet blowhards like me.


This coming from a guy who froze twice this morning and took a quick 1 tick on a 10 lot for a whopping net of $77.00 and then watched price run more than 3 whole points from his entry.

[garciaal]

I agree emotions are totally different, that was my 1st MTP trade, just getting used to the Software. I was looking for input if I had done the setup properly, or was it some fluke that I just happen to catch.

Alex.

[davidh]

Ok lets see if I get this correctly.

ES 3 min I clicked on swing high on 3/16 13:24, it painted a DP 1405.75(top of DP) Price came from above into DP and had a blue bar hi of 1406.25,so went long at 3lots 1406.50 initial risk of $300 RR was only1.4.

I took 1 off @ 5ticks, 1@ 10ticks and let the 3rd run for 7.25 points,
totla profit of $550, so my math shows RR 1.8

Now the sad part. It was all on Sim, excuse me I think I have to heave.

Alex

Correct me if I'm wrong but I don't think this is the MTP recommended way to trade DP's?
Old resistance = new support is fine, but I didn't see anything in the DP documentation about using it this way. Have I missed something?

[Matt Bowen]

Hi David,

I agree with the Paper trading exercise... but when it comes time to put real money to use... the position sizing is paramount. Thus, if they are going to paper trade then start off the right way by using the position sizing.

This is one of the reasons I asked you last week if you had any metrics on your trades. I know you are in and out all day, so you would have to record these at the end of the day.

I also knew the message was being missed last week so I recorded all of the trades just in the E-mini S&P from MTPredictor's standard setups and the results were very interesting because the trader trading 1 lots left about 30% on the table.

This is why if you are paper trading or not, position sizing is paramount. I've seen systems trading 1 lots actual lose money while the position sizing system made very good money

Check it out below...here is a case where $5900. was left on the table and this was just from last weeks E-mini trades.

[Steve Griffiths]

Hi Guys,

Here is my take on the "ideal" DP tarde from today ........ see chart on the 3min NQ - short from the very high of the day !! :)

Steve

[d-day]

well, the powers that be decided to step in and buy before we could get a nice big ABC on the ES. Look at the 1:20-1:35 bars on the 5 minute and you'll see a bull flag (without the pole) but a bullish formation nonetheless.

I had expected 1409.75 to be tested before this morning's trend would resume, if it is resuming. We may still get it, but it won't be as clean a setup as it was shaping up to be.

[Steve Griffiths]

Well,

Well we did not continue past the first DP profit target, but a nice 2.7x Profit here nevertheless :)

Steve

[d-day]

Hi David,

I agree with the Paper trading exercise... but when it comes time to put real money to use... the position sizing is paramount. Thus, if they are going to paper trade then start off the right way by using the position sizing.

This is one of the reasons I asked you last week if you had any metrics on your trades. I know you are in and out all day, so you would have to record these at the end of the day.



Hi Matt,

I agree with the importance of position sizing. When I said to do one lot for real it is was more for someone to see how it feels to catch some skin in the zipper, so to speak, not to evaluate MTP or any other trading strategy.

D-Day

"Back-testing is for historians, not traders."
- Joe Ross, Trading Is A Business

[Steve Griffiths]

Hi Guys

One for the 1min traders.........

BTW, this is TS8 data being pumped into NinjaTrader, so with TS8 data I have access to the normal R/R tool and multiple DP levels as in eSignal......... neat :)

Steve

[pegasus5]

I'm currently working short NQ TS2 entry 1779.75 w 1781 stop..

Covered @ 1777.75...didn't like the price action..Matbe I'm "overthinking" but a gain is a gain..

[d-day]

Hi Guys

One for the 1min traders.........

Steve


Well, what's a nice software developer like you doing over here on the darkside;)

[Todd Morgan]

:D :D

"How'd you get the beans above the frank?"

--Mary's Stepdad--
"Something About Mary"

Hi Matt,

When I said to do one lot for real it is was more for someone to see how it feels to catch some skin in the zipper, so to speak.....[/I]

[Matt Bowen]

Did you guys grab it?

[d-day]

:D :D

"How'd you get the beans above the frank?"

--Mary's Stepdad--
"Something About Mary"

"We got a bleeder!"

Paramedic
"Something About Mary"

[Steve Griffiths]

Well, what's a nice software developer like you doing over here on the darkside;)

well, you guys looked to be having so much fun I thought I would take a look ;)

But seriously, 1min charts are only for the experts like you. Most "newbies" should cut their teeth on something a little slower first. 1min charts can be rewarding, but as you say, they have a dark side, if you are not quick enough ;)

Steve

[d-day]

But seriously, 1min charts are only for the experts like you.
Steve

You wouldn't be referring to me as an "expert" if you had seem me flinching, jumping, and hesitaing earlier.

I beleive in the Socratic knowledge of Ignorance - I know that I don't know

"I have a real fear of the markets."
Mark Weinstein in Market Wizards

[garciaal]

Ok lets see if I get this correctly.

ES 3 min I clicked on swing high on 3/16 13:24, it painted a DP 1405.75(top of DP) Price came from above into DP and had a blue bar hi of 1406.25,so went long at 3lots 1406.50 initial risk of $300 RR was only1.4.

I took 1 off @ 5ticks, 1@ 10ticks and let the 3rd run for 7.25 points,
totla profit of $550, so my math shows RR 1.8

Now the sad part. It was all on Sim, excuse me I think I have to heave.

Alex


steve,
could you comment on this setup, not the trade mangement. Am I clicking on the right points or am I doing it bass ackwords

[garciaal]

Did you guys grab it?

Matt, I don't see any TS4 on my chart, and it is turned on.

Alex

[Steve Griffiths]

steve,
could you comment on this setup, not the trade mangement. Am I clicking on the right points or am I doing it bass ackwords

Please email support@MTPredictor.net with a chart attached so they can "see" your question..........

Steve

[d-day]

Matt, I don't see any TS4 on my chart, and it is turned on.

Alex

Are looking at the 3 minute chart?

I don't usually keep the TS4 on, but it is there when I turn on the alert.

[garciaal]

Correct me if I'm wrong but I don't think this is the MTP recommended way to trade DP's?
Old resistance = new support is fine, but I didn't see anything in the DP documentation about using it this way. Have I missed something?

davidh,

I don't know thats the reason I asked. I don't know, what I don't know.

Nicky Newbee (Alex)

[Steve Griffiths]

Dp help videos at http://www.mtpredictor.com/members/Nov2006.html (members only).

These should help :)

Steve

[davidh]

Chill Garciaal, Steve will advise you.

[jjc]

Did you guys grab it?


Thanks for the heads-up on not to take it.


j

[pegasus5]

Did anyone grab these? Two DP trade setups which caught the HOD and LOD...Couldn't be easier ;) Just waiting for us to ring the register--Ka Ching!!

These are posted for educational purposes as tick and volume based charts are not displayed in "real-time" on the board...Only time charts.... :rolleyes:

Are you guys getting this yet? Remember, "Don't Think!!"

[d-day]

Thanks for the heads-up on not to take it.


j

:p too funny:p

[Matt Bowen]

Hey now, it wasn't that bad...we made back the commission, ha ha :)

Put a little trust in the ATR...

[d-day]

Hey Tony, raise your hand so we know you're ok.

[Steve Griffiths]

Hi Guys,

Well the best action today has been on the longer term charts. As I said in my report only a few days ago, do not dismiss the 15min charts because they are boring............ sometimes boring can give you some great trades.........

Here a perfect TS3 buy on the 15min NQ - juts reached the first profit target................. perfect, right from the text book :)

Steve

[d-day]

Hi Guys,

Well the best action today has been on the longer term charts. As I said in my report only a few days ago, do not dismiss the 15min charts because they are boring............ sometimes boring can give you some great trades.........

Here a perfect TS3 buy on the 15min NQ - juts reached the first profit target................. perfect, right from the text book :)

Steve

15 minutes!

I may as well be trading quarterly charts!;)

[Steve Griffiths]

OK, so it is only me who does not worry what market or what time frame the profits come from ??

;)

We are all differmet, I guess that is what makes the marekt for us........

Steve

[jjc]

OK, so it is only me who does not worry what market or what time frame the profits come from ??

;)

We are all differmet, I guess that is what makes the marekt for us........

Steve

Steve,

Maybe next time you should post a chart but hide the time frame and see if anyone can guess what time frame it is.





j

[Steve Griffiths]

Oh well,

I am just showing people how to make money with my software, some people will like it, take note and some people will not......... After all, this is the MTPredictor Forum, so I thought I would show people how to make money with the MTPredictor software......... and Yes, sometimes that means looking at different time frames. After all, why worry about where the profits come from, the Bank Mananger does not ask, nor does he care, so nor should we :)

Steve

[d-day]

now, now, we're all just having fun, aren't we? I know that I am. We have by now proven that MTP can make money on all time frames - from the 1 tick char to the millenium chart and everything in between. Unless you live in Ohio, in which case you live your entire life between 3 to 5 minute increments;)

[jjc]

we're all just having fun, aren't we? I know that I am. We have by now proven that MTP can make money on all time frames - from the 1 tick char to the millenium chart and everything in between.

D-Day,

That's a good healthy attitude, thanks for sharing your MTP outlook with us.

I look forward to using MTP in it's traditional way and to explore with it as I get better experienced with it.



j

[Steve Griffiths]

Hi Guys,

5min NQ DO sell slowing working with us, but slowly is the word......

Steve

[d-day]

Hi Guys,

5min NQ DO sell slowing working with us, but slowly is the word......

Steve

Slowly is right ... this must be what it feels like to be an EOD position trader:)

[Steve Griffiths]

yep, but we have certainly sped off now............. exactly as anticipated in the daily report, up into the daily DP levels............. nice :)

Steve

[d-day]

yep, but we have certainly sped off now............. exactly as anticipated in the daily report, up into the daily DP levels............. nice :)

Steve

The Dow has so badly lagged the other three that it is now dragging the rest of the market higher, above their respective wpts, while the Dow seeks to reach its own.

Well, I held my nose and went long on the sp's first pullback and I have to admit, it turned out to smell much better than I thought it would.:cool:

But the Dow has now penetrated into its target (12401-62), so I'll bail in a heartbeat.

[d-day]

So what's the game plan, Steve?

Puts have gotten very cheap in the last 30 minutes. Now that all four of these buddies have gotten on the same page, and made it to their respective WPT's, do you still feel we have at least one more leg down? What do you make of the SP's making it as far above the top of the wpt zone as it has?

[d-day]

I'm out. My nose started to bleed when the Dow took out the top of its wpt.

Just for kicks, I'm going to buy a handful of way-out-of-the-money ES puts and close for the day.

Just for kicks. I may lose the entire premium, but these things are pennies on the dollar from where they were this morning.

[Steve Griffiths]

Hi David,

Nice trade into the high ... :)

But as far as my opinion on buying a few Puts just because the premium is cheap is just gambling, and not what professional traders do. Yes, this "may" work sometimes, but to try and justify a punt like this just because they are cheap is something best saved for Vegas, and not professional trading.

Just my opinion and not something I would ever consider or suggest to people reading this.

My "professional" opinion is to wait and see "if" resistance does come at the current daily WPT level and then take it from there.......

Steve

[d-day]

Hi David,

Nice trade into the high ... :)

But as far as my opinion on buying a few Puts just because the premium is cheap is just gambling, and not what professional traders do. Yes, this "may" work sometimes, but to try and justify a punt like this just because they are cheap is something best saved for Vegas, and not professional trading.

Just my opinion and not something I would ever consider or suggest to people reading this.

My "professional" opinion is to wait and see "if" resistance does come at the current daily WPT level and then take it from there.......

Steve

I tried to buy some ES puts, but I'm not crazy enough to buy options on a market order, and even though I kept hitting the offer with my limit order, the price kept moving away from me. By the time I gave up, the puts were offered for 1.5 points higher than when I started trying to buy them! Had I been filled on the original order I would have dumped them before the close. Oh well. I did catch a good chunk of that crazy rally.

By the way, did anyone happen to notice the TS3 on the ER2 that would have had you long from the bottom tick bar of the day. ATR would have stopped you out in he moments before the fed release. But if you were long at that point, so close to the news release, the proper place for a stop would have been a tick or two under your entry. Would have been the second big move post fed in a row where MTP would have gotten you into the trade on the right side right before a huge move. I didn't take the trade earlier largely because of the R/R being < 2.

[jjc]

I tried to buy some ES puts, but I'm not crazy enough to buy options on a market order


D-Day,

Great running dialog with Steve, et al. I'm taking notes on how to become a better trader and maybe get myself out of 'neophyte' trader status some day.

But seriously, this is a great forum, you guys dish out good info. Oh, and the software is pretty darn good too.

Now, tell the truth, how long have you been employed by MTPredictor, you can't fool me? You're too good a spokesman ! :)


j

[d-day]

D-Day,

I'm taking notes on how to become a better trader and maybe get myself out of 'neophyte' trader status some day. j

j, if you're a neophyte trader, then I was just born yesterday, and when I grow up I want to be just like you:)

[qitrader]

Hey Guys

Just got back from my 3 day vacation after an amazing last week. Now getting back on track once again. Glad to see some of you making good money off the Mtp setups.

[qitrader]

Anyone catch the DP short off ER2 on 3/5 minute timeframes? :)

Entry @ 814.60

update: Stop at +.1R and trailing with ATR stop

[garciaal]

Qi,
Nice to see you back. Missed these entries this morning, having trouble with loading charts.:mad:

Alex

[tombtrader]

TS4 off DP 3minute, covering at pivot 11.90

[qitrader]

Very quiet board. Anyone still holding the short?

[davidh]

Hi Qi,
No, I was in the NQ 3min DP short but got out at the minor DP for a small profit

[garciaal]

Hi Guys,
Whats the trick on avoiding getting a trade when the TS3 Buy keeps getting moved down. I have 8 signals on NQ 3min since 10:39, if I had taken them I would have been stopped out repeatly.

Alex

[jands]

Hi ya'll,

Price has gotten pretty congested since 11:00 EDT so I'm out of the market until we get a well defined move in one direction or another.

(I'm content to watch and wait with my +.6R profit and not give it back needlessly.)

I like pretty setups:D

Jim

[pegasus5]

Hi Guys,
Whats the trick on avoiding getting a trade when the TS3 Buy keeps getting moved down. I have 8 signals on NQ 3min since 10:39, if I had taken them I would have been stopped out repeatly.

Alex

Alex, I took the NQ TS3 5min and got stopped out by 1 tick..very frustrating...happens quite often...perhaps an adjustment should be made to initial stop level...personal choice I guess..

[garciaal]

Now on NQ 3 min there is a TS3 buy @ 11:09 that stayed,and is moving up pretty good. :confused: 8 previous stop outs would be really hard to make up.

Alex

[d-day]

Now on NQ 3 min there is a TS3 buy @ 11:09 that stayed,and is moving up pretty good. :confused: 8 previous stop outs would be really hard to make up.

Alex

Now I'm just an amateur, but here's one of 3 or 4 things I use to keep me out until the market is ready for me, and in this case it would have worked like a charm - The signal came at 10:40. The entry would have been 1817. When an MTP set-up is signalled where there is no price symmetry between AB (12.5 points) and BC (8.75 points) and the signal is at he minimum C and not the typical C, my entry is based off the highest high of the 1st signal bar until price of AB = BC within a few ticks, anyway, or price drops into the typical C WPT. I do sometimes miss good trades because by keeping the entry at the high and moving my stop loss to lower lows the r/r sometimes changes to the point that I disqualify the trade. But more times than not it keeps me out until the market is ready.

Also, you would not have been stopped out 8x's on this set-up. Once and done as far as I could see, and that is if you moved your entry down to 1815.50 after the close of the 10:50 bar (I beleieve that is what Pegasus did), and that is indeed what you will find in the MTP Trading Course. So again, this is one market hobbyist's opinion, so proceed with caution.;)

[jands]

Now on NQ 3 min there is a TS3 buy @ 11:09 that stayed,and is moving up pretty good. :confused: 8 previous stop outs would be really hard to make up.

Alex

Hi Alex,

I did a quick check and I only saw 3 valid buys. Two being stopped out and and the last one that is in profit.

I would recommend that you contact support and make sure you have the rules down pat.

Remember that 1 out of 3 trades are winners (average is 38.2%). If successful the one trade will make up for the two losers especially if it is a big winner. The success of proper position sizing.

Good luck,

Jim

[Todd Morgan]

Ah...where the art meets the science my friend. Not always easy.

Personally, one way I deal with it is to use a smaller bet size. I use between .50% - .25% bet size when day trading. I have no clue how anyone maintains solvency or sanity when using a 2% bet size when day trading with actual money in real-time(not paper trading).

In my testing I've had as many as 13 losers in row, I'm not prepared for a 26% drawdown in a matter of days. In actual trading I had a 10 losers out of 13 trades run. Would have been very difficult at 2% bet size. That kind of variance of returns will make you old before your time. :)



Now on NQ 3 min there is a TS3 buy @ 11:09 that stayed,and is moving up pretty good. :confused: 8 previous stop outs would be really hard to make up.

Alex

[qitrader]

Alex,

I know the feeling. That is why you have to trade with a risk that fits your comfort level. Every trader has a different risk tolerance. One way to find out is to take your average trades per day (e.g. 3 trades per day) and assuming that you lose on all 3 trades, then ask yourself this. Will you be able to handle a 6% drawdown on a given day? If not, then keep reducing your position sizing parameter until you feel that you have no emotions involved in a given trade. As you become more experience, this risk parameter increases. I started out at .5% and now I can easily do 2%. Also, trading could be 100% mechanical but if you want to separate yourself from the average trader, then you have to add alittle bit of everything (gut feeling, psychology, money management, etc) It takes time to develop this skill (instinct) so I suggest to take it one step at a time. Even I'm still working on it.

[pegasus5]

Now I'm just an amateur, but here's one of 3 or 4 things I use to keep me out until the market is ready for me, and in this case it would have worked like a charm - The signal came at 10:40. The entry would have been 1817. When an MTP set-up is signalled where there is no price symmetry between AB (12.5 points) and BC (8.75 points) and the signal is at he minimum C and not the typical C, my entry is based off the highest high of the 1st signal bar until price of AB = BC within a few ticks, anyway, or price drops into the typical C WPT. I do sometimes miss good trades because by keeping the entry at the high and moving my stop loss to lower lows the r/r sometimes changes to the point that I disqualify the trade. But more times than not it keeps me out until the market is ready.

Also, you would not have been stopped out 8x's on this set-up. Once and done as far as I could see, and that is if you moved your entry down to 1815.50 after the close of the 10:50 bar (I beleieve that is what Pegasus did), and that is indeed what you will find in the MTP Trading Course. So again, this is one market hobbyist's opinion, so proceed with caution.;)
David & Alex....David you are correct in my entry method..I entered @ 1815.50 ..initially it moved away so I used a limit order...got filled and plaved stop @ 1812.75.

Was a properly executed entry...just unfortunate that got stopped out. Hope this helps Alex :)

[d-day]

Hi Alex,

I did a quick check and I only saw 3 valid buys. Two being stopped out and and the last one that is in profit.

I would recommend that you contact support and make sure you have the rules down pat.

Remember that 1 out of 3 trades are winners (average is 38.2%). If successful the one trade will make up for the two losers especially if it is a big winner. The success of proper position sizing.

Good luck,

Jim

My comments pertain to the 5 minute NQ chart. I don't keep a 3 minute NQ open and I didn't realize that Alex was referring to the 3 minute. Looking at the 3 minute chart I would not have liked how truncated the BC swing looked, and as price was so close to testing the 3:27 low from yesterday (which ultimately it did), I would have held off until that test or I would have gotten in on a retracement testing the original entry point as support.

[davidh]

ADX / DMI is also a fantastic indicator for keeping you out of too much trouble too. I run it alongside STF. If anyone's interested, Charles Schaap has written an excellent book describing how to apply it. A bit expensive , but worth it.

[jjc]

market hobbyist's opinion

Post a chart, oh great Market Hobbyist.

I'm having trouble 'seeing' the trade on the NQ you are referring to.

BTW, good stuff !


j

[Steve Griffiths]

Hi Alex,

Most of these were not valid set-ups that were actually triggered......... But I agree, a tricky day today, as I suspected in my daily report... In fact only two small loses here (not 8 as you say)

Steve

PS, I alos agree, that as the Wave C continued it was less and less an ideal pattern, as Wave C was too choppy...

[pegasus5]

ADX / DMI is also a fantastic indicator for keeping you out of too much trouble too. I run it alongside STF. If anyone's interested, Charles Schaap has written an excellent book describing how to apply it. A bit expensive , but worth it.

David,


ADXcellence is in my opinion one of the best books on ADX/DMI Strategies..I would highly recommend anyone interested in learning to invest in this book. I personally know Charles and his lovely wife Candy. They are the "Real Deal"..no BS.

I also use ADX as one of my primary indicators to determine trend or no trend...Even if you just use DMI Dominance Method will keep you on the "right side" of market.

Good Hunting,
David

[qitrader]

Update: +.1R

Should have taken +2R. Maybe I got a little greedy but that is how it works. Sometimes, it is better to take profits at WPT levels, other times, trail with ATR stop. This is more an art than science. Oh well.

[d-day]

Post a chart, oh great Market Hobbyist.

I'm having trouble 'seeing' the trade on the NQ you are referring to.

BTW, good stuff !


j

Here's the NQ as I see it and also the ES, along with my execution fill this morning - my only trade thus far - I am long 5 ES at 1441.74

[davidh]

Pegasus,
Good to know you find it helpful too. One of the trading books I keep going back to.

[garciaal]

David, Todd, Jands,& Qi,

Thanks for the input, I really appreciate it.

Now there is TS3 sell on NQ 3min. 12:00

David I tryed following your explanation on my chart and I just didnt get what you were saying.:o If its not to much trouble could you post a chart with what you were talking about.

Thanks, Alex

[d-day]

David, Todd, Jands,& Qi,

Thanks for the input, I really appreciate it.

Now there is TS3 sell on NQ 3min. 12:00

David I tryed following your explanation on my chart and I just didnt get what you were saying.:o If its not to much trouble could you post a chart with what you were talking about.

Thanks, Alex

Call me Saturday morning - make sure you know how to do bar replay mode and I'll show you what I would look at. Again, I'm not the authority on this stuff.

[Steve Griffiths]

David, Todd, Jands,& Qi,

Thanks for the input, I really appreciate it.

Now there is TS3 sell on NQ 3min. 12:00

David I tryed following your explanation on my chart and I just didnt get what you were saying.:o If its not to much trouble could you post a chart with what you were talking about.

Thanks, Alex


Hi Alex,

Please email SUPPORT for all support questions, that is what they are there for. Support@MTPredictor.net

They are there to help you, so please make use of them and ask.

Steve

[Steve Griffiths]

Alex,

You need to email support as you are not looking at this correctly, the TS3 sell on the 3min NQ is AGAINST a blue STF, so not a good trade to consider.

Support and all the help videos are they to help you, so please ask.....

Steve

As a PS, that was not triggered either as did not exceed the low of the red bar, so was not valid not triggered either, so not relevant....

[Matt Bowen]

Hi Alex,

Hi Guys,
Whats the trick on avoiding getting a trade when the TS3 Buy keeps getting moved down. I have 8 signals on NQ 3min since 10:39, if I had taken them I would have been stopped out repeatly.

Alex

Whoooaaa...

8 trades in the Nasdaq 3 minute charts??? Better pull the car in for a tune-up :eek:

Seriously, what symbol are you looking at on that chart??? There have only been three trades today on the NQ M7 (I can't even fathom how you got 8 setups). Are you waiting until the bar is closed before you apply the WPT?

When somebody can't trade...that one problem, but not using it correctly, that's a whole different story!

Look at the chart below...you can see (the arrows) on the previous trade setups. Got through the Bar replay and look at each signal...there is no way to get 8 setups on completed bars.

Like Steve said in the previous message...the STF has you only looking at buy signals because the color code is blue on the STF (so all sell signals get thrown out or avoided).

[Steve Griffiths]

EXACTLY............ please please please email support if you do not know what you are doing. we are all here to help !!!!

Steve

[pegasus5]

Hi Guys,
Whats the trick on avoiding getting a trade when the TS3 Buy keeps getting moved down. I have 8 signals on NQ 3min since 10:39, if I had taken them I would have been stopped out repeatly.

Alex

Alex,

Check your private message tab..

[garciaal]

Matt,

I miss counted there only 5 signals on 3min. I didn't take any of them.


alex

[Matt Bowen]

Hi Alex,

If you're getting 5 signals before 11:06amd EST, that's still two (2) signals too many. So, please contact the support office and have them review these trades.

My first guess is that you are looking at a 24 hour chart and that's going to produce all kinds of junk signals when trading Index E-mini Futures.

Next, make sure you are using the correct NQ M7 symbol. Seriously, don't hem and haw on the fence, pick up the phone and call the support office, so that you can get on the right track and you can move forward instead of backwards :)

All the best,

[Steve Griffiths]

Hi Alex,

I think you are confusing "alerts" with actual tradable signals. And then with actual trades that are filled.

Just because you get an "alert" doesnt mean it is a valid trade set-up and you could get two or three "alerts" on the same set-up before it is actually filled. So I think you need to email support so they can help your understanding here.

But this should be easy to clear up once you understand the difference between a trade "alert" and and actual confirmed trade set-up.

Thanks

Steve

[d-day]

Sorry david, we dont need TV sketches here - this is a trading Forum...

Steve

[jands]

It looks like today is another day that we have to be very patient with.

Jim
:confused:

[Goledo]

Yes, consolidation day. Best to stay on the extreme edges of day types like this.

[kbednar]

Yawn....my grass is growing faster than the 3 minute bars. Is Wall Street open today? Looking to fade the ES 1 hour pivot along with the DP, if it ever gets there and sets up correctly.;)

[rrs]

Sooner or later the price is bound to breakout of this consolidation phase. The price pattern on the chart appears to be giving us a clue to the direction of the potential breakout.

Rama.

[Todd Morgan]

Decent, albeit begrudging bounce of that 1812.50-1811.50 support area in the NQ M7. Though I hate buying the weakest market on the board, it's making for a decent scalp on a painfully slow day.

Have a good weekend eveyone.

[Steve Griffiths]

I agree............ a painfully slow day ........... :(

Next week should be more exciting !!

Steve

[ockham razor]

interesting forum

what is this software based on, looks like basic fib levels?


ockham razor

[AndyvB]

interesting forum

what is this software based on, looks like basic fib levels?


ockham razor

Maybe read the following link and then go to the website...
I just wish you a lot of luck if you think you can do it better than the MTP software...It is great!
http://www.mtptrader.com/MTPredictor.html

[Steve Griffiths]

Hi Everybody,

I agree a frustrating day all round.

The one that I saw, and was tempted by was the 3min ER2 at 2:21EST. But the STF was red, it was very flat, and although the market was coming off potential support at the low of the day, the initial R/R was below our 2:1 minimum. So not a brilliant set-up ....

A pity that tha AB rallied into the 4th (maximum Wave 3) projected profit target, which nailed the high of the day.

So close to being the best set-up of the day, juts a pity about the STF color..... but as already said, both the STF and market was flat at the time so no real Bear trend to speak of, but as I have alraedt said, was not an ideal set-up......

Steve

[Steve Griffiths]

Here was another one that I was looking at yesterday as well,

But like the AB, this was against the STF colour (at the time) and had a low initial R/R.

So all in all, yesterday was a frustrating day with little to get excited about at all........... Monday is another day :)

Steve

[Goledo]

Didn't you find any DP trade, on the open? Steve

[Steve Griffiths]

Hi,

Yes, there weer some DP levels, that actually nailed the high of the day nicely. But these were not "ideal" trades........

So as I said a very boring day, but then this was due to the narrow range swings.

We all have to remember what great (and very profitable) tardes we had last week, some 10x and 8x profits !!! So we can't expect to have great days everyday, you need to look at what your balance is on a monthly basis, not just daily.....

Steve

[Goledo]

I agree, not ideal. I've attached my 5 min NQ chart, and there seems to be difference on the signals?

[Steve Griffiths]

Please email support for all support questions, not this Forum...........

But it looks like you have the major settings enabled (?) I only use the Intermediate.......

Steve

[Goledo]

I will, yes the major was on, many thanks

[qitrader]

Steve,

Regarding the TS3 on ER2 on 3min chart you posted, couldn't you have used the 5min ? In the 5min, the stf was blue.

[Steve Griffiths]

Hi Guys,

Nice 5min AB DP sell to start the day :)

Steve

[pegasus5]

Steve,

Did you take that trade in real money account?

[d-day]

Hi Guys,

Nice 5min AB DP sell to start the day :)

Steve

You had to be quicker than lightening to get that order in on a 5 minute chart

I haven't heard from anyone yet who caught that initial break unless they were already short

[qitrader]

Wow, Steve....I"m very impressed with the execution.

This is what happened to me. After the 5min bar closed on the reversal bar, it took me about 10 seconds to place a stop market sell order at 816.50. Just when I was about to confirm my order, the thing drop 3pts ----this was 10 s after that 5min bar (reversal bar) closed. How do you get a fill in such a situation? Does that mean we need to use a 1min?

I'm sure some of the mtp users would like to know the answer to this as this trade was a big winner.

[Steve Griffiths]

You just have to be quick...................

This is why I spend so much time teaching these set-ups. You could have started to "prepare" a stop order just below the 5min bar low, and had it in the market waiting. This low was not taken out for 3 minutes after the 5min bar low was made............ using the 1min chart.

Nobody said day-trading was easy, and yes, sometimes you have to be quick. But if missed, never "chase" a trade, just let it go and move onto the next one............

Steve

[qitrader]

Well, I didn't miss the Long DP trade on ER2. Hope it works out. Looking for 2-3R since intraday trend remains bearish

Entry: 808.4 and just moved my stop to +.1R

[Matt Bowen]

I like these setups... it's like being the "Hedged Trader". We have a long "DP" trade on the Russell and a Short TS3 on the ES.

I could careless who wins...but I see the opportunity :)

[qitrader]

Nice to see someone on my side now. I too don't know how far my ER2 will go....still trailing

[Steve Griffiths]

Hi qitrader............. long form the low of the day - well done..

Just reached the opposing DP level. nice :)

Steve

[qitrader]

Steve,

But the reversal bar (RED bar) on the 5min didn't show up until after the bar closes. How can we better prepare ourself unless we have some way to predict the color reversal bar? Not that it matters much since unenexpected and random events like this happens in trading all the time. Nevertheless, thanks for the tip.

update: Just exited my ER2 long for +3.5R

[Steve Griffiths]

Well done on the +3.5R, that was a good trade....... well done

Steve

[qitrader]

Now I'm short ER2 @ 812.1 based on 5 min ABC SHORT SETUP. Stop 813.20.

[Goledo]

And a "free" Short NQ TS4 at DP with great R/R:-)

[Matt Bowen]

And a "free" Short NQ TS4 at DP with great R/R:-)

Hi Goledo,

Good eye, the ATR stop just was just moved to 1807.50 so that trade is now at a "Risk Free" level. For those who do not know what that means, it's simply where the ATR is now below the entry price and if we get stopped out it now cost us nothing because we have also covered the commission.


Update:

This trade: http://www.mtptrader.com/showpost.php?p=7950&postcount=652

Ended up net +300.00 The ES was stopped out for a -$375.00 loss, but AB ended up making +700.00 profit. :) So, who cares which trades win... it's about making money, not being "RIGHT".

[Goledo]

I agree Matt, I took it off at some profit, maybe regret it(shudda, cudda,wudda:-). But I got a better entry(anticipated). Good rotations today

[Goledo]

very good rotations today

[Goledo]

Potential short on YM 15 with good r/r, and blue stf

[Steve Griffiths]

STF blue (?), last time I looked blue was for a bullish trend, so why look to go short ?

Just a question ?

Sounds like I need to add more filters in the software, as I never imagined how difficult it would be for people to perform these simple checks themselves.........

But this blue STF on the 15min chart does show that we are having some larger degree bullish pressure, perhaps this is why the 3 and 5min sells are struggling today (?) - now that would be an expert observation ;)

Steve

[Goledo]

U are right, Steve. Longs preferred. Since indicators are lagging, its wiser to look at current rotations

[qitrader]

Steve,

Regarding the 3min ER2 DP short in the afternoon which I did not take. Couldn't you have traded this as a DP continuation assuming that your 15min STF was Blue (bullish). This is a very advanced analysis but would love to hear your opinion.

[qitrader]

Quiet here....Anyways, waiting for DP long on ER2.

Might want to keep an eye..Anyone seeing the same thing in your charts?

[AndyvB]

Yes I see the same, market is dragging it's feet at the moment!

[Flavio Cirio]

STF blue (?), last time I looked blue was for a bullish trend, so why look to go short ?

Just a question ?

Sounds like I need to add more filters in the software, as I never imagined how difficult it would be for people to perform these simple checks themselves.........

But this blue STF on the 15min chart does show that we are having some larger degree bullish pressure, perhaps this is why the 3 and 5min sells are struggling today (?) - now that would be an expert observation ;)

Steve Steve,

your opinion on this TS3 on mini russell...

Flavio

[Goledo]

This is a slowmotion day. with negative bias

[ClaphamTrader]

Quiet here....Anyways, waiting for DP long on ER2.

Might want to keep an eye..Anyone seeing the same thing in your charts?
Hi Qi

Couldn't see the DP myself. What timeframe was it in?

I'm Short ER2 at 809.40 from a TS3 Sell on the 10:57 Signal bar.
ATR StopLoss now at 808.70 and just coming up to Min Wave C at 806.10 :)

16:35 Update: Just at DP on 5 min with 2 Blue bars. StopLoss moved down to 807.50
& possible reverse Long at DP

[ClaphamTrader]

Closed my TS3 SHort for just over 2R :D

Now Long ER2 on 3min DP @807.60

[Goledo]

Welldone Clapham.

[qitrader]

Clap,

It was on the 5min timeframe.

I'm in long based on DP at 807.1 with a stop at 806.10.

update: Stop moved to +.1R

I saw that short unfolding on ER2 but didn't trade it. Great Trade Clap

[ClaphamTrader]

Thanks. I'm quite pleased with that.
The ER2 turned 1 tick away from the Min Wave C WPT.

ATR Stop now at 806.6
Although it's stalled and they might retest the lows.
Hitting the lunchtime quiet period, so time to get a coffee and let the trade work itself out.

[ClaphamTrader]

Clap,

...
Maybe I should think of changing my screen name LOL

WHooah! ER2 Moving again.
ATR Stop Loss now at 807.20:)

[ClaphamTrader]

...

Now Long ER2 on 3min DP @807.60
TS1 Short just fired on ER2 at WPT :(
STF Red but rising.

Bringing my StopLoss up to 808.20 to secure +0.3R in case the TS1 works out.

(Now it's definitely time for that coffee.:D )

[qitrader]

Only got about +2.1R on the DP long trade.

Now I am short at 809 based on 3 min ABC with a stop at 810. Minimum WPT. Hope it works out.

Update: Stop moved to +.1R

[ClaphamTrader]

Only got about +2.1R on the DP long trade.

Now I am short at 809 based on 3 min ABC with a stop at 810. Minimum WPT. Hope it works out.
Qi,

Is that a valid set-up?
I get a TS4 on my chart on the 18:51 bar,
but it does not look like a valid TS4 as it's not off a significant low
and the STF is Blue!

...Seems to be going in right direction though with STF turning Red now.

Update: There's a TS3 Short on the 18:55 bar in the 5 Min chart but STF was alos Blue

[Goledo]

choppy. with same afternoon upgrind pattern we had yesterday

[qitrader]

Check your Mtp STF indicator with Steve. Mine was Red when I got in at 809.

[ClaphamTrader]

Check your Mtp STF indicator with Steve. Mine was Red when I got in at 809.
My mistake!
It was Red.
I had the wromg setting on the 5 min STF.
Thnx.

Looks like I missed a nice TS3, already at Min WPT and in profit.
Well done!

[qitrader]

+.6R. Oh well.

[Steve Griffiths]

I love it...............

Exactly as anticipated in today's report - a drop into the profits targets from the 15min TS3 sell generated yesterday............ brilliant :)

Steve

[qitrader]

Steve,

Another play was a continuation DP trade which work out nicely. I got stopped out in the first trade around 804.6 (out 805.4). Then there was another entry when it broke the lows.

Could you go over that?

[Todd Morgan]

Looking to short the YM on that 12430 resistance level. Though I'll have the stop and reverse button at the handy in case of a bloody breakout mess.:)


edit: the fact that it's resting before testing portends BO, IMO

edit2: Long YM off the 1min bull flag @12407 ...stop @12397

edit3: -1R stick in the pooper. Gosh, you'd think I'd be used to that feeling by now.
:D

[qitrader]

I'm kinda off today in my trading, probably because of playing with the new toys.

results: so far down -3.3R. (4 trades)

Mtp for NT!!!!! All I can say is i'm really impressed with Steve's work but need to make some money for myself too. hehehe
:)

[Todd Morgan]

yet another attempt to get short ER2 at 803.30 ...stop 803.7. We shall see.:rolleyes:

[AndyvB]

Todd: What was your rational for going short in your above post??? Thanks
Andy

[Todd Morgan]

Just trying to manufacture some P&L with some continuation patterns...in case we really fell outta bed. Nothing to do with MTP setups.

Todd: What was your rational for going short in your above post??? Thanks
Andy

[AndyvB]

Anybody elses Interactive Brokers feed down??? At least the Indexes seem to be???
edit: That was interesting, got filled on my stop but the data is not coming...

[Biggo]

Anybody elses Interactive Brokers feed down??? At least the Indexes seem to be???
edit: That was interesting, got filled on my stop but the data is not coming...

Hi Andy

My IB feed is working fine only been online for the last 2 hours but no problems

Biggo

[AndyvB]

Thanks Biggo..I guess the server that I get the feed from is down...something is wrong still down..glad I am out at breakeven...

[Todd Morgan]

Hi guys...just a comment here

I have had THE WORST experiences with Interactive Brokers. Customer Service is the worst that I have encountered....by far. The data is cheap...but the quality blows. Their "Smart Routing" is a joke when doing it from their API.

I couldn't more down on IB. I'm blown away that they're so popular with some Professional trading types. :eek:





Thanks Biggo..I guess the server that I get the feed from is down...something is wrong still down..glad I am out at breakeven...

[Matt Bowen]

Today... was horrible trading, that is until we had a nice bailout trade at the end on the NASDAQ. The NASDAQ short signal TS4 at 3:30 EST but triggered on the very next bar. It slammed into the low on the cash market close. Nice way to finish off the day :)

Before this trade we had two losers on the ES

#1 -360.
#2 -120. (ATR moved down and we moved the stop)

[d-day]

Looking to short the YM on that 12430 resistance level. Though I'll have the stop and reverse button at the handy in case of a bloody breakout mess.:)


edit: the fact that it's resting before testing portends BO, IMO

edit2: Long YM off the 1min bull flag @12407 ...stop @12397

edit3: -1R stick in the pooper. Gosh, you'd think I'd be used to that feeling by now.
:D

Todd,

Check your email

D-Day

[chrisg]

Hi guys...just a comment here

I have had THE WORST experiences with Interactive Brokers. Customer Service is the worst that I have encountered....by far. The data is cheap...but the quality blows. Their "Smart Routing" is a joke when doing it from their API.

I couldn't more down on IB. I'm blown away that they're so popular with some Professional trading types. :eek:

I am with you. They have the some of the rudest people in the industry. I only traded options when i was with them but had horrible fills. I gladly pay a little more in commissions to get better customer service and fills.

chris

[AndyvB]

Re: Interactive Brokers. Fantastic that they exist!!! I love them...Not all of us live in the USA, and for those of us that don't, they are the gift to trading...I have not come across another online trading service that can beat the price and you do NOT have to be in the USA to subscribe! Unless i want to pay $60 plus round trip for a basically full service broker. This is the first down time I have had, so I can't complain, and it did not cost me anything!
Just my 2 cents worth!

[Todd Morgan]

Just FYI...I pay about 40 cents per RT. Yet I also pay about $800 per month for quality data and charting with CQG, whose coverage is ubiquitious.

But unfortunately I also fork over another $200 per month for an eSignal feed to run MTP. Suxx me for me.:D


Re: Interactive Brokers. Fantastic that they exist!!! I love them...Not all of us live in the USA, and for those of us that don't, they are the gift to trading...I have not come across another online trading service that can beat the price and you do NOT have to be in the USA to subscribe! Unless i want to pay $60 plus round trip for a basically full service broker. This is the first down time I have had, so I can't complain, and it did not cost me anything!
Just my 2 cents worth!

[AndyvB]

Todd:
I had CQG back a good 15 yrs plus, with a roof top sat dish, before they were made popular. It was the only game in town in those days and the best. The brokers all had them too. It was too dear for me at the time so I only had it a short time. IB works for me well at the moment. We all have our favourities, if I can call any broker a favourite!

[d-day]

Todd:
I had CQG back a good 15 yrs plus, with a roof top sat dish, before they were made popular. It was the only game in town in those days and the best. The brokers all had them too. It was too dear for me at the time so I only had it a short time. IB works for me well at the moment. We all have our favourities, if I can call any broker a favourite!

If I could add my two cents, I have yet to have a "perfect" broker. For my purposes right now, IB is right for me. My only complaint would be that ER2 fills always seem to suffer 1-3 ticks negative slippage if you don't use a limit; and if you do use a limit, you often will not get filled. Also, it is always negative slippage. Even when I exit and the market is moving fast and in my favor, I still get clipped for $10-$40/contract if I market order out. My fills on everything else have been great - ES, YM, NQ, even thinner markets like the QG (mini-nat gas) are usually filled right on my stop price or on the visible bid or offer at the time I enter the market order. As far as options go, I will never trade at the market on options. I either get them at the price I want to pay or I don't get them. I have only needed IB customer service three times and I always felt I was treated well and by a competent person.

[d-day]

As far as options go, I will never trade at the market on options.

And that goes for any broker - I have used e*Trade and optionsXpress and I would not enter an order to buy an option at the market with either of those brokers either.

The best broker for options I ever had was Brown & Co., especially pre-JPMorgan. I had no problem giving them ordersd at the market - I almost always got positive slippage on both equities and options. Alas, Brownco is no more.

But if anyone out there can recommend a great options broker , I'd love to hear what you have to say.

[ClaphamTrader]

TS1 Short on YMM07 on 3min 15:24 bar @12439
Stop @ 12447
Neutral STF
Min Wave C target at 12414 for +3R

Working well at the moment.
Anyone catch this?

Update: I like trades like this! :-)
Now reached Typ Wave C WPT at 12406
Atr at 12430, but as TS3 Buy Blu bar formet, my Stop is at 12415 for +3R locked in

[ClaphamTrader]

TS3 Buy just fired on the 3 min ES with Blue STF
but also have a TS3 Sell Signal from the 15:00 bar on 15 min timeframe with confirming Red STF. (Albeit slighly skewed ABC).

Matt/Steve,

What would you do?:confused:
I'm already short YM.
My feeling is to ignore the ES TS3 buy as the 15 min should tale precendence?
Any advice gratefully received. Thaks in advance.

Update: Look like gut feeling was correct as 3min TS3 Buy failed and YM working out nicely.

[d-day]

TS3 Buy just fired on the 3 min ES with Blue STF
but also have a TS3 Sell Signal from the 15:00 bar on 15 min timeframe with confirming Red STF. (Albeit slighly skewed ABC).

Matt/Steve,

What would you do?:confused:
I'm already short YM.
My feeling is to ignore the ES TS3 buy as the 15 min should tale precendence?
Any advice gratefully received. Thaks in advance.

Update: Look like gut feeling was correct as 3min TS3 Buy failed and YM working out nicely.


Hi Clap,

I took the TS1, covered for a few ticks profit, and then re-shorted on a 3 minute mini bear flag. I covered at 414 so I'm flat.

Good luck!

[ClaphamTrader]

I really need to change my screen name... ClapTrader just doesn't sound right! :D

I got Stopped out of YM at 414 for +3R
and now long the ER2 although that one is turning against me at the mo.:(

[Steve Griffiths]

Yep, a great TS1 short there. ....... well done ..... :)

Here is the chart

Steve

[ClaphamTrader]

...
and now long the ER2 although that one is turning against me at the mo.:(

Covered for b/Even.
Looks like we may be heading down again.

[pegasus5]

Here is the NQM07 15 min Could we be setting up for swing long? Any thoughts from MTP-land? Steve..any educational comments?

[Steve Griffiths]

Covered for b/Even.
Looks like we may be heading down again.

Good call there................ just saved you a -1R loss - good trading ;)

Steve

[qitrader]

Very nice short from the High of day and now DP long setting up on ER2. Waiting for trigger.

[Matt Bowen]

Hi David,

But if anyone out there can recommend a great options broker , I'd love to hear what you have to say.



That really depends on what level of service you want and how big your trades are. If you want retail level service then go to Think or Swim.

http://www.thinkorswim.com

Now, if you are doing complicated options trades or large size orders I would go with PTI securities

http://www.ptisecurities.com

Hope that helps,

[qitrader]

Anyone long the DP trade?

Entry: 801.7

Stop: 800.7

Where is this going? Who knows....all i know is a completition of a wave 5 pattern. Shooting for 2-3Rs.

update: -1R

[Matt Bowen]

TS3 Buy just fired on the 3 min ES with Blue STF
but also have a TS3 Sell Signal from the 15:00 bar on 15 min timeframe with confirming Red STF. (Albeit slighly skewed ABC).

Matt/Steve,

What would you do?:confused:
I'm already short YM.
My feeling is to ignore the ES TS3 buy as the 15 min should tale precendence?
Any advice gratefully received. Thaks in advance.

Update: Look like gut feeling was correct as 3min TS3 Buy failed and YM working out nicely.


CT,

Unless the trader is an expert day trader he should not be looking at multiple time frames because it usually confuses the hell out of amature traders, this requires a much higher skillset.

If he is a good trader and can handle multiple time frames then treat them as seperate trades. Let's be honest, a 15 minute trade is usually not a day trade and a 3 minute trade is probably going to last 2 to 3 hours tops, so it's very possible that they can both make money and I've done this many times.
However, as I said before...this difficult because it's like juggling (you have to really be on the ball) ;)

This selloff is not surprising me in the least bit because I saw on Monday's close the second failure attempt to push through the 50 moving average... (this moving average is looked at by a lot of wall street freaks). In any event, I sent Steve the following e-mail memo on Tuesday morning.

From: Matt Bowen (MTPredictor Ltd) [mailto:Matt.Bowen@MTPredictor.net]
Sent: Tuesday, March 27, 2007 9:09 AM
To: 'Steve Griffiths'
Subject: Great Report


Hi Steve,

I read you report this morning and that last bar on the Dow stuck out like a sore thumb... and you mentioned it as saying: This does raise an interesting question" of a possible Wave 1 or an "A" wave... When I read this I was like it made me think not only that...The candlestick is better know as the "Hanging Man"... I don't normally comment on Candles but when I was reading the paper this morning I saw it and then read your report... very interesting because a Hanging Man can appear anywhere and not necessarily at the top.

So what's my point here...Steve was looking at the same thing in Elliott that I saw using candles. I don't talk about candles because it's not part of the program, but if you are good at reading them...they will talk to you and when I was reading my morning paper the pattern jump out at me and that's why I sent Steve an e-mail... I should have sent out an e-mail to the enire list.

The point is this stuff can be used on multiple time frames, but if it's too much or too confusing stick then just with the automatic signals and move to only 1 time frame until you develop the skillset to use multiple time frames. The problem most people make is they try to trade like Steve right after they buy the program and you can't cram 20+ years of Elliott inot someone else's brain in a couple of hours...like anything else, you have to develop that skill.

[Steve Griffiths]

Nice TS4 :)

Steve

[qitrader]

Jump right back in at 801.1

This is a much clearer DP trade but you never can tell.

[qitrader]

DP trade setup

[qitrader]

I love this little feature in Ninja Trader, especially that RR tool.

Steve: small request (can you make an option to allow traders to put the RR labels in the right margin? I don't like the labeling covering the bars) tx

update: Dang another -1R. I keep taking those small jabs. :(

[kbednar]

Approaching 15 min TS3 Sell WPT and also DP Level. If it is going to turn today, this is the place.

Sorry, that is the ES

[Matt Bowen]

Hi Ken,

I'm watching these 3 minute STF oscillators and the AB,YM and the ES have just made new lows. When this happens we usually will get a bounce at some point and then retest or exceed those lows later in the day. I'm not saying this happens all the time, but I've used it enough to bank money on it. The reson this happens is because this is how you get a very dynamic Decision Point (DP) trade... and when your STF oscillator is making new lows you can't have a DP trade.

Right now the only thing I've seen is the NASDAQ short below and it's now acting very well for a trend trade.

[Steve Griffiths]

Update on the TS4........... just stopped out using the ATRStop for a return of approx 3.7xR ......

Steve

PS, qitrader, you can adjust the "right margin" in Ninja to add more space so the labels are neater, this is in Video 1 on the Ninja videos on the RT help page....

[chrisg]

But if anyone out there can recommend a great options broker , I'd love to hear what you have to say.



Trade king is a good broker to do complicated spreads. I would compare them to optionsxpress but much cheaper. I also like MBtrading for equities and just buying calls and puts. Their prices are comparable to IB, and there customer service is excellent. If you need to phone in to enter or exit a trade there is no extra cost. IB $30 for broker trades and you can only exit. But if ib works for you, by all means stay with them. Different brokers work for different people, and they all have their + and -.:)


chris

[jjc]

But if anyone out there can recommend a great options broker , I'd love to hear what you have to say.



Trade king is a good broker to do complicated spreads. I would compare them to optionsxpress but much cheaper. chris



I've used Trade King for some time now and I've never had a problem.

However, I've never had a problem with Options Xpress either.

With Sli-Trade you can talk to the guy 'in the pit' if you trade the 'large' and you can even get a private phone number, if you have the margin.

j

[qitrader]

I happened to be short on this Advance DP analysis but accidently hit Cover and exited with +.3R. Maybe it is a good trade. Going to continue watching and see how it unfolds.

[jswin]

I happened to be short on this Advance DP analysis but accidently hit Cover and exited with +.3R. Maybe it is a good trade. Going to continue watching and see how it unfolds.

Hey Qi, I don't see divergence on either the 15 or 3 min charts - am I going blind? :)

[qitrader]

There was no divergence. I only happened to be short because I got a 15min DP + R1 + trigger confirmation. As I said, this is advanced stuff and not related to how Steve taught it in his manual. I only took the trade because I saw good RR and odds were in my favor based on additional analysis.

Hope that helps,

[AndyvB]

That's why Qi trader calls it advanced....you are not going blind!
PS: Sorry I see that Qi posted at the same time...
Hey Qi, I don't see divergence on either the 15 or 3 min charts - am I going blind? :)

[jswin]

There was no divergence. I only happened to be short because I got a 15min DP + R1 + trigger confirmation. As I said, this is advanced stuff and not related to how Steve taught it in his manual. I only took the trade because I saw good RR and odds were in my favor based on additional analysis.

Hope that helps,

A ha, a bounce off resistance at the prior high (R1 I assume). I'm with you and very pleased my eyes are in tact. Andy, thanks for your comforting comments too!:)

[Steve Griffiths]

Hi Guys,

A great trade on the 5min ES - see how the DP nailed the exact high of the day, this is exactly the same scenario as I outlined in today's report (which I hope you are all reading ;) ) so no excuse not to nail this one :)

Steve

[AndyvB]

I nailed that ES trade dead on, just used the ATR stop till stopped out!
Great trade. The Ninja program is working great together with MTP...Thanks Steve!

[Steve Griffiths]

I nailed that ES trade dead on, just used the ATR stop till stopped out!
Great trade. The Ninja program is working great together with MTP...Thanks Steve!

Well done Andy, a good trade there :)

Steve

[scooper]

Hi Steve

I nearly took that trade but I did not see oscillator divergence. I believe the chart you posted also does not show this either.....maybe I've misunderstood or missed something (probably as it's friday evening!).

Cheers

[jands]

Posted by SCOOPER

Hi Steve

I nearly took that trade but I did not see oscillator divergence. I believe the chart you posted also does not show this either.....maybe I've misunderstood or missed something (probably as it's friday evening!).

Cheers


Be sure to check out the videos on DP trades and you will get your answer as to why you take that particular trade without divergence.

Jim:)

[ClaphamTrader]

Hi Guys,

A great trade on the 5min ES - see how the DP nailed the exact high of the day, this is exactly the same scenario as I outlined in today's report (which I hope you are all reading ;) ) so no excuse not to nail this one :)

Steve
I got that one as well!
Nice start to the day!:D Thanks Steve.

[scooper]

Hi Jim

Just watched the advanced DP setup video and all is clear now. Shame I missed it....still there is always another trade and another day....:D

[Steve Griffiths]

Hi Scooper,

Juts out of interest, are you receiving and reading my daily reports ? The reason I ask is that I detailed this very exact trade in yesterdays as well as today's report.................

This is on-going training that all users should read each and everyday......

To sign up please go to: http://www.mtpredictor.com/pricing/Examples.html

Thanks

Steve

[scooper]

Hi Steve

Yes, I'm receiving them but was really sticking to the std setups.

It's been a few mths since I have traded so taking a bit of time to get back in the swing (no pun intended).

:)

[Steve Griffiths]

Ok... No probs.....

[Steve Griffiths]

Beautiful...............

Exactly as outlined in today's report, and Fridays report !!!!

Nailing the high perfectly ...... :)

Steve

[qitrader]

ER2 had the same setup on 3/5 min. But it was more difficult. It did not work on the first try but second did.

[Steve Griffiths]

And the result...............

A nice 3.4x profit :)

Steve

[Steve Griffiths]

Hi Everybody,

A 3x profit on the way down............. now another 3x profit on the way back up again !!

Steve

[rrs]

Potential ER2 DPtrade

[qitrader]

Never triggered but wondering how we could trade the DP continuation. Maybe a break of 817.6 high. Maybe Steve can participate here to guide us through it.

[qitrader]

Steve,

I know this is not the appropiate forum for this but since this is the mostly view thread, I was wondering if you can make the DP levels in NT plot all the way to the most current bar. Sometimes, it falls too short and I need to draw a rectangle and move it across.

thanks

[rrs]

Never triggered but wondering how we could trade the DP continuation. Maybe a break of 817.6 high. Maybe Steve can participate here to guide us through it.

Hi Qi,

Steve wrote about the mechanics of the DP continuation trade on March 22 Daily Training Report. I am waiting to see if the price exceeds 817.60.

Regards,

Rama.

[AndyvB]

Hi Qi,

Steve wrote about the mechanics of the DP continuation trade on March 22 Daily Training Report. I am waiting to see if the price exceeds 817.60.

Regards,

Rama.

Rama:
That is the start of the next DP area...

[qitrader]

Rama

Yep, I'm waiting for it to trigger. One of my condition as for any breakout plays is that it needs to close higher on every bar. Otherwise, get out!!!

[stylist]

That was a great ride quick 6R gain:D

[Steve Griffiths]

Hi Stylist...

WOW, a great trade, well taken for a quick +6R profit !

Nice one.

Steve

[Steve Griffiths]

Hi Guys,

Not really a clean set of swings to get a good DP level off which to run a DP continuation on the ER2............

As always, keep it simple, if no obvious and easy way can be seen on the charts then don't try and force it....

The 3min NQ was the best way of catching this last spike up :)

Steve