US Markets: Real-time Trading

[edfash]

a perfect trade to look for the market to trade back above the open

[Minor]

Hi Edfash

Would you mind posting a pic of your settings for that chart, I have 1 chart per mini that I have all the filters off, and I did not get that auto

Thanks

[edfash]

minor:

i am having trouble with my screen capture program for the past 2 days, not sure why. the settings are the default in NT, i have not taken any of the filters off. if you have any specific questions on any of the filters

[Eddo]

Hi Edfash

Would you mind posting a pic of your settings for that chart, I have 1 chart per mini that I have all the filters off, and I did not get that auto

Thanks

Minor, it might be a Data issue you have there. I have all my filters on and I got both the NQ and the ES TS4 3 min setups as per Edfash's post - Chris

[Minor]

Hmm, not sure whats up but any help would be appreciated

[mawk01]

Hmm, not sure whats up but any help would be appreciated

You might see if changing your template from MTP-GLobal 24 hr to MTP-USA Minis

[Minor]

Alright, That did it. Thanks for all of your help

[edfash]

mtp owns the er today

[miles2go]

mtp owns the er today

This worked out to be v good trade though this was coming down from a 15-DP resistance and also from a maximum level of 5th wave. Can any one guide me what odds favored this trade? Is the stoch divergence or an equally high vol on the blue bar? Or any thing else?

If we have to choose the trade depending upon the odds, I am not clear on when to take these TS3s coming out of a 15-min dp and also from wave 5 and when to aovid. As this TS3 is also considered as the continuation of 5 waves after an ABC correction.

Any help is appreciated.

[edfash]

i was also concerned about the resistance at the higher degree DP zone that stalled the advance. i felt the trade was worth the risk as the market took almost 2 hours to make the abc which barely exceeded a double bottom, a similar pattern existed in the other stock index futures, and the intraday vix continued to make new lows. hope this helps.

[Eddo]

i was also concerned about the resistance at the higher degree DP zone that stalled the advance. i felt the trade was worth the risk as the market took almost 2 hours to make the abc which barely exceeded a double bottom, a similar pattern existed in the other stock index futures, and the intraday vix continued to make new lows. hope this helps.

We also had a very nice Blue STF at the time and for those of us who keep and eye on the Trin that was also positve (favouring longs) at the time

[miles2go]

We also had a very nice Blue STF at the time and for those of us who keep and eye on the Trin that was also positve (favouring longs) at the time

Hi Chris,

I also follow TRIN. But I noticed that these two are mostly in the favor of buying when coming from the 5 wave top. May be today is the one of those days that favored continued trend with an ABC correction from a 5th wave down.

[richbois]

Not a bad day for TTT

This was the comment last night

Tomorrow is SS day, on ES and ER2 we have a 56% chance to make a higher high and a 52% of making the high 1st.
Let’s keep in mind that we had a big rally today, so the market should take a breather.

and we nailled the tops pretty good and we got a nice TS4 at the same time

[Larry22]

Not a bad day for TTT

This was the comment last night

Tomorrow is SS day, on ES and ER2 we have a 56% chance to make a higher high and a 52% of making the high 1st.
Let’s keep in mind that we had a big rally today, so the market should take a breather.

and we nailled the tops pretty good and we got a nice TS4 at the same time

Yup indeed this was a must trade to take and since I trade 2 accounts now (mine and private ) I had the chance to sell ER2 on mine at 728 and ES at 1291 on the other (easier with 2 counts to trade like that) made a nice ride with it. :D

Once again I like this TTT book Richard. ;)

[tonis]

You might see if changing your template from MTP-GLobal 24 hr to MTP-USA Minis

Why is there a difference? I thought the only different thing between the two templates was the session opening/closing times...

[Minor]

Hi tonis

The chart start and end times are important, My chart time was an hour early, therefore there was an extra swing that invalidated the TS4 and it did not show. By getting the start and end time the same as the other MTP'ers the TS4 showed
Thanks

[tonis]

Hi tonis

The chart start and end times are important, My chart time was an hour early, therefore there was an extra swing that invalidated the TS4 and it did not show. By getting the start and end time the same as the other MTP'ers the TS4 showed
Thanks

I agree, I thought there was maybe another difference...

BTW, does anybody know why Steve insists so much on us having US or UK local settings on our PC? I have mine to CET and MTP seems to work fine...

[Steve Griffiths]

I agree, I thought there was maybe another difference...

BTW, does anybody know why Steve insists so much on us having US or UK local settings on our PC? I have mine to CET and MTP seems to work fine...

This is only for Europe that use commas (,) for decimal places rather than (.). This causes havoc with a .csv (comma separated) data files because we dont' know whether the comma is the decimal place or the column separator.

The rest if the world uses the normal decimal places of (.) so all work OK.

I hope this helps ?

Steve

[tonis]

This is only for Europe that use commas (,) for decimal places rather than (.). This causes havoc with a .csv (comma separated) data files because we dont' know whether the comma is the decimal place or the column separator.

The rest if the world uses the normal decimal places of (.) so all work OK.

I hope this helps ?

Steve

OK, so if it works, then we shouldn't worry.

Thanks!

[Eddo]

Been Long ER2 (AB) since third 3 min bar of the day taken on manual opening DP trade with support off 15 min DP. We have had a nice decline on this Buy Day, I have a pos Trin and STF - my only fear at the moment is Trader Vic's Gap rule -i.e. even if we get a rally, if the gap isn't filled we can expect to close in the direction of the Gap (down!) - so for me, taking out 725 would be nice :)

[jjc]

Been Long ER2 (AB) since third 3 min bar of the day taken on manual opening DP trade with support off 15 min DP. We have had a nice decline on this Buy Day, I have a pos Trin and STF - my only fear at the moment is Trader Vic's Gap rule -i.e. even if we get a rally, if the gap isn't filled we can expect to close in the direction of the Gap (down!) - so for me, taking out 725 would be nice :)


nice trade eddo

btw, rich's ttt was also in the buy range - hows that for a great combo of mtp and rich's ttt!

j

[Larry22]

Been Long ER2 (AB) since third 3 min bar of the day taken on manual opening DP trade with support off 15 min DP. We have had a nice decline on this Buy Day, I have a pos Trin and STF - my only fear at the moment is Trader Vic's Gap rule -i.e. even if we get a rally, if the gap isn't filled we can expect to close in the direction of the Gap (down!) - so for me, taking out 725 would be nice :)

Excellent trade indeed Eddo, I was able to buy a few lots at 716.7 but took my profits allready and sold 2 times and manage to take quick profits since I think we might be heading lower and the Vic's gap rule too is another reason.

As usual time will tell.

Laurent

[Eddo]

Excellent trade indeed Eddo, I was able to buy a few lots at 716.7 but took my profits allready and sold 2 times and manage to take quick profits since I think we might be heading lower and the Vic's gap rule too is another reason.

As usual time will tell.

Laurent

Yes indeed - I think we might now be at the moment of truth for the ER2 today - if we hold here and push on from the forming TS1 we could be heading for the TTT high which I have way up at around 737 - if we don't hold I'am thinking Trader Vic rules will win the day and we go down to around 709 - as you say time will tell - Chris

[Eddo]

Yes indeed - I think we might now be at the moment of truth for the ER2 today - if we hold here and push on from the forming TS1 we could be heading for the TTT high which I have way up at around 737 - if we don't hold I'am thinking Trader Vic rules will win the day and we go down to around 709 - as you say time will tell - Chris

So far so good ............ a bit like a long drive in a car, you pop into the gas station and fill up the tank and move on - just hope I put gas and not diesel in it :D

[Eddo]

So far so good ............ a bit like a long drive in a car, you pop into the gas station and fill up the tank and move on - just hope I put gas and not diesel in it :D

Diesel it was I think ............ :mad:

[Larry22]

Diesel it was I think ............ :mad:

Sorry about that Eddo, I didn't stay long in the market for another reason I have a wave count that call for a possible Top we could have made at 728 yesterday or at minimum a wave 3 and then a wave 4 down so that was a real concern for me but I took the DP trade as it also was a wave projection and ES was also at his DP. So I was expecting a rally up as I expected the gap or part of it to be filled.

[rokster]

Diesel it was I think ............ :mad:

Hi Eddo,

Just a newbie question.. did you manage this trade as per the manual ? ie.. moved the stop to B/E once it passed the 100% mark ?

Thanks.
~Rokster

[Steve Griffiths]

Hi Guys

Nice trade on the 3min AB............. a classic High volume spike that reversed right at the DP........... nice ;)

Steve

[Eddo]

Sorry about that Eddo, I didn't stay long in the market for another reason I have a wave count that call for a possible Top we could have made at 728 yesterday or at minimum a wave 3 and then a wave 4 down so that was a real concern for me but I took the DP trade as it also was a wave projection and ES was also at his DP. So I was expecting a rally up as I expected the gap or part of it to be filled.

Hiya, not too bad and came out with just over 1R gain on that initial DP opening trade. Sadly missed (beach commitments!) the great looking TS3 which would have brought in a very nice +4R (this vacation stuff is costing me money cos of all these great trades I have missed in the last few days)

My TTT low for the day tgt was also hit within 1.5 pts on the ER2 and smack on in the ES and I really do find the combination of 'setting up' my day based on TTT figures and the 'expected' moves for the day based on the previous days action PLUS these wonderful MTP setups (manual and auto's) has been a wonder and resorted my confidence in a major way :)

[Eddo]

Hi Eddo,

Just a newbie question.. did you manage this trade as per the manual ? ie.. moved the stop to B/E once it passed the 100% mark ?

Thanks.
~Rokster

Hi - basically yes I did. I actually took off half my posn at 1R and then ran the balance on the ATR (which took it out eventually) on my initial DP opening trade. I took off the half because the open gap hadn't been filled and I was less than confident that we would continue very much higher + its nice to have a little in the bank!

[Larry22]

Hiya, not too bad and came out with just over 1R gain on that initial DP opening trade. Sadly missed (beach commitments!) the great looking TS3 which would have brought in a very nice +4R (this vacation stuff is costing me money cos of all these great trades I have missed in the last few days)

My TTT low for the day tgt was also hit within 1.5 pts on the ER2 and smack on in the ES and I really do find the combination of 'setting up' my day based on TTT figures and the 'expected' moves for the day based on the previous days action PLUS these wonderful MTP setups (manual and auto's) has been a wonder and resorted my confidence in a major way :)

Eddo I sure do agree with you and that's the rason why I was expecting the market to decline as I had my wave count telling me we should go down and Richard's TTT book was also giving a 98% chances of going lower 728.40 up to 709.62 so no need to tell you that the short that I took at 724.5 (TS3) was one of the easiest one I ever took.

So when I combine MTP, TTT and EW I have more then 75% chances of winning. That sure helps a lot on confidence

[kbandtheriptides]

hey guys,
is there a way to get EW counts on our RT ninja charts ?

[Eddo]

AB (ER2) just about at TTT pos high for day target. We have had a nice Sell Day rally from the Low of the Buy day and are just about at 15 min MTP DP - could be time to start thinking of going Short soon

[edfash]

this coincided with a 15/30 min abc buy

[Eddo]

AB (ER2) just about at TTT pos high for day target. We have had a nice Sell Day rally from the Low of the Buy day and are just about at 15 min MTP DP - could be time to start thinking of going Short soon

Just gone Short AB (ER2) on 15 min DP (taken on 3 min) and at TTT HOD tgt

[riccja]

Eddo,

I dont see any divergence in the stf....are you considering that?

Rick

[Eddo]

Eddo,

I dont see any divergence in the stf....are you considering that?

Rick

Hey Rick - yes that was considered but with the Rising Trin, 15 min DP's all over the place and the TTT HOD tgt hit the lack of Diverence was overidden - but its not looking great at the moment and if it fails this could be a nice Continuation trade - I hope it won't fail of course :)

[Eddo]

Hey Rick - yes that was considered but with the Rising Trin, 15 min DP's all over the place and the TTT HOD tgt hit the lack of Diverence was overidden - but its not looking great at the moment and if it fails this could be a nice Continuation trade - I hope it won't fail of course :)

We also have wot looks like a potential ABC forming - so my stop is now very very tight - as Larry says, time will tell :confused:

[Eddo]

We also have wot looks like a potential ABC forming - so my stop is now very very tight - as Larry says, time will tell :confused:

This is really taking an age and the beach is calling so I have a tight stop in at the HOD and a limit buy order to take me out if my target (the next 15 min DP down) is hit - hope you all have a good weekend

[banimal]

Looks like we just tagged the TTT high for as predicted by Richard in the ER2. Let's see if we go down from here.

Chris

[richbois]

Not a bad day for TTT

By the way I wont be posting much for the next 2 weeks as I will be on vacation.

Good luck with all your trades

[Larry22]

Not a bad day for TTT



Indeed Richard I have to say that I'm allways amazed with your TTT book even if I trade ER2 I allways look at the ES also as very often I check if both are on a possible high or low based on the TTT projections and MTP signal as when both ES and ER2 are in phase your chances of success are much better.

Again today TTT and MTP were in synch as the first high was at a DP and the second projected high was also again at a DP so I was more confident of selling both times as these were validated on both highs.

AMAZING is the word.

[Larry22]

Some of you might wonder, why in the hell didn't I buy instead ??

Good question as ES was at his DP and we had wave A = wave C that sure was a low risk specially that Richard was saying.
(Tomorrow is a SELL day and since we closed on the lows today, we should expect a rally.)

Well guess what. :D

P.S sorry for the pic but I didn't had time to take another snapshot before exiting as the market went up too fast and I had an appointment to go to but let's say I made more then 7 points on this last lot before leaving.

Laurent

[jands]

HI Everyone,

Tough day today, at least for me. I have played today as a short sale day plus the fact that it should be range bound after the big move on Friday and it looked to be completing a Wave 5 this morning. The market has definetly had other ideas.

If only I could put on another hat this morning:D

[kbandtheriptides]

12:51 ER 3 min buy TS2
Trader vic goes long on day if no gap fill 15 mins after open..

I need help posting charts..
KB

[jands]

Didn't see that one, I was looking at all the other indexes this morning. None of the others really didn't have a gap.

The ER, ES, and NQ moved straight up today, the YM looks to have completed a Wave 5, or at least in the process of.

Thanks and good luck,

Jim

[scooper]

Nice TS2 long on ER2 3 min and profits taken as 15 min min wave 3 hit which happened to be the top. Net just over 5R as my entry was at market and a few ticks late.

Was tempted to reverse which is shame as its tanked from there. Still, I am wrapping up my day now. No point over trading.

[Steve Griffiths]

Hi Scooper

Nice trade there............ the best one for me for picking the high was on the YM, and that was because the reversal was right at the Typical Wave 5 WPT, see below. Also the 5-wave looked nice and symmetrical and fitted a "classic" EW pattern

Steve

[kbandtheriptides]

Steve,
How are you getting the E-wave counts?
manual or auto ?
upgrade beta for ninja?
thanks,
KB

[Larry22]

Steve,
How are you getting the E-wave counts?
manual or auto ?
upgrade beta for ninja?
thanks,
KB

You have to export your data from Ninja in your case to MTP EOD.

Go to this link everything is well detailled on how to do it.

http://www.mtpredictor.com/help/NinjaData.html

Result for today's top with EOD and Ninja as I had same wave count sorry for the 5 min pic but can't post 15 min as too much valuable things on it.

P.S I sold twice and took my profit everytime.

Laurent

[kbandtheriptides]

Thanks,
I'll see if I can get the EW's to go..
KB

[jands]

In the theme of an old western. The bad guys are hold up in a house and someone needs to smoke'em out so we can get things moving!


Well it looks like someone set the house on fire and they're running for the hills!

[scooper]

In the theme of an old western. The bad guys are hold up in a house and someone needs to smoke'em out so we can get things moving!

My analysis says we are in a wave 4 on all the minis. For me this is the hardest trading there is and I took a long on the YM DP 3 Min and closed it at 11719 because I am aware these days can be very difficult.

In these conditions we regularly see TS setups stalling at 1R or thereabouts and good looking DPs stalling at prior wave minor swing DPs therefore I am taking watching very closely and taking profits early if I do not feel right about a trade until we get near the wave 4 low areas as indicated by MTP v6.

Thats my plan for 2day anyway. It could all work out nicely though and I may take profits early on a good trade. Have to use your nose a bit more than usual though :)IHMO

[jands]

My analysis says we are in a wave 4 on all the minis. For me this is the hardest trading there is and I took a long on the YM DP 3 Min and closed it at 11719 because I am aware these days can be very difficult.

In these conditions we regularly see TS setups stalling at 1R or thereabouts and good looking DPs stalling at prior wave minor swing DPs therefore I am taking watching very closely and taking profits early if I do not feel right about a trade until we get near the wave 4 low areas as indicated by MTP v6.

Thats my plan for 2day anyway. It could all work out nicely though and I may take profits early on a good trade. Have to use your nose a bit more than usual though :)IHMO

With yesterday being a sell short day and the market going higher all day that means that the buy day today is a day for short sell opprotunities. I just expected it to go a little higher for a better opprotunity. I tend to avoid placing a trade when the market was so congested a few minutes ago.

Oh well. You can't be in the market all the time.

[kbandtheriptides]

So far the best TOD was at 10:07 on YM 1 min chart
Trader vic sell gap no fill after 15 mins TS3

[kbandtheriptides]

possible set up for it again right now

[jands]

possible set up for it again right now

Yep, I'm waiting on something similar!

[kbandtheriptides]

no go ..
keep eyes open..

[Eddo]

no go ..
keep eyes open..

Seems like I am swimming against your flow boys - I'am long the Es based on a blue bar pullback on the 3 min DP, the bounce on the YM's 15 min DP, a pos Trin and a falling STF .............. one of us is going to be right :)

[jands]

Seems like I am swimming against your flow boys - I'am long the Es based on a blue bar pullback on the 3 min DP, the bounce on the YM's 15 min DP, a pos Trin and a falling STF .............. one of us is going to be right :)

Somebody will be right as long as the market doesn't go sideways;)

[Eddo]

Somebody will be right as long as the market doesn't go sideways;)

ah yes ........... the dreaded sideways drift :eek:

[kbandtheriptides]

Seems like I am swimming against your flow boys - I'am long the Es based on a blue bar pullback on the 3 min DP, the bounce on the YM's 15 min DP, a pos Trin and a falling STF .............. one of us is going to be right :)

you called it right ...so far..
11:24 am ..here's some area to watch?

[Eddo]

ah yes ........... the dreaded sideways drift :eek:

With 1R in the bag so far and a very nice looking TS3 Sell on the AB the balance of my Long ES is now with a stop at entry - so free from here :)

[TAS]

Hi EDDO,

I am with you but in ER2 instead since this stuff seems to have formed double ABC in 3/5 min on the way down to its 50% retracement level. Nice MTP DP is a plus. Trade management has always made this endeavour a profitable one.

Good luck to U as well.

TAS

Seems like I am swimming against your flow boys - I'am long the Es based on a blue bar pullback on the 3 min DP, the bounce on the YM's 15 min DP, a pos Trin and a falling STF .............. one of us is going to be right :)

[Eddo]

you called it right ...so far..
11:24 am ..here's some area to watch?

I have an initial tgt on my ES Long at 1303 - if we can pass that and fill the gap I think I might be on a runner - if we fail around there I close :)

[Larry22]

Today is a buy day but considering we went up allmost all day yesterday on a SS day a decline was to be expected before any buying opportunity and that's exactly what the market did so far.

I was able to sell earlier and bought ER2 at 743.5 as it had reached a projected low and we had a lot of volume there. I sold my last lot left at 748.5 as the weather is too nice for me to stay inside in front of my PC and since we could go lower I decided to bail out.

Laurent

[Eddo]

Today is a buy day but considering we went up allmost all day yesterday on a SS day a decline was to be expected before any buying opportunity and that's exactly what the market did so far.

I was able to sell earlier and bought ER2 at 743.5 as it had reached a projected low and we had a lot of volume there. I sold my last lot left at 748.5 as the weather is too nice for me to stay inside in front of my PC and since we could go lower I decided to bail out.

Laurent

Thats prob the best call of the day :) the ES has now rejected 1302 three times - have brought my stop even closer and will wait it out - enjoy the day Laurent - I am now back in rainy windy London after two lovely weeks on the lake at Tahoe so you have the best of it today :)

[Eddo]

With 1R in the bag so far and a very nice looking TS3 Sell on the AB the balance of my Long ES is now with a stop at entry - so free from here :)

Out for a .7R gain after costs - not a lot but better than a -1R loss :)

[jands]

Out for a .7R gain after costs - not a lot but better than a -1R loss :)

You need to start adding things up over the long term:D

Congrads

[Eddo]

You need to start adding things up over the long term:D

Congrads

takes a bow ..... :) and sticks it into MSA :) :)

[Larry22]

Today is a buy day but considering we went up allmost all day yesterday on a SS day a decline was to be expected before any buying opportunity and that's exactly what the market did so far.

I was able to sell earlier and bought ER2 at 743.5 as it had reached a projected low and we had a lot of volume there. I sold my last lot left at 748.5 as the weather is too nice for me to stay inside in front of my PC and since we could go lower I decided to bail out.

Laurent

As mentionned earlier today was a TTT Buy day and I bought earlier and sold my position as stated in this earlier post and weather was nice outside too, but there was also another reason why I did that, the TTT first projected low had not been achieved yet and this was a concern for me as the possibility to go lower was there 98% for ER2.

That's exactly what happened near the end of the day as ES went down and reached the the projected low for ES as it was 1287.27 to 1285.25 and we wera also at a major ABC (TS4) on the 3 min.

For ER2 we went close it was about 740 and went down to 742 but since ES had reached his low it was a good place to buy as we were also at a DP area on the 3 min.

[jjc]

she took her blade to my hard drive, dang

[jands]

AHHHHH, if my wife had only done that to me years ago.......

...I probably could have watched so much more TV!!! Oh well:rolleyes:

[TAS]

Hi all,

I was in DP continuation ER2 short trade, hoping for a touch with TTT's projection low, which as you may realise coicides with important retracement level in ER2 15min, let's see how market react from there...

Good luck.:)

TAS

[Eddo]

So with about 3 more point down to get to the TTT low for the day by my reckoning and bearing in mind yesterdays Buy Day low came last, I reckon we could be getting close to a rally on the ES - anyone else have any thoughts on that?

[Larry22]

So with about 3 more point down to get to the TTT low for the day by my reckoning and bearing in mind yesterdays Buy Day low came last, I reckon we could be getting close to a rally on the ES - anyone else have any thoughts on that?

Technically yes Eddo but let's not forget we may have made an importaant top 2 days ago so we may be in a wave 3 but the TTT projected low is in a cluster area so we may see some kind of rally from there. I don't know how high we will go but we have divergence building up on the MAC for the ES.

P.S We have no volume confirming buyers for now so let's watch this closely as this should be a good sign when and if spike volume appears.

Laurent

[TAS]

Hi EDDO,

Since both ES and ER2 could have completed wave counts in large time frame, at least I would in short-term bear mind in addition to today's unfilled opening gap, plus I have a 3/5min projection close enough to TTT's low for ER2 as well.

I woundn't reverse until that level gets resolved.

Again, trade management, stop loss and position sizing, that's all matter to win this game in the long haul...

Good Luck to you as well.

TAS

[kbandtheriptides]

I took the TS3 sell on the NQ at 10:09 am exit at 1st profit target..
STF not at low band so I took profit..
"should a would a"...went lower..

tried to long ER noon on a 3min DP /exit BE quickly as the signal negated after a few bars more..
we looking at/for a bottom near TTT?

[Eddo]

Technically yes Eddo but let's not forget we may have made an importaant top 2 days ago so we may be in a wave 3 but the TTT projected low is in a cluster area so we may see some kind of rally from there. I don't know how high we will go but we have divergence building up on the MAC for the ES.

P.S We have no volume confirming buyers for now so let's watch this closely as this should be a good sign when and if spike volume appears.

Laurent

Yes I see that - the only problem as I see is that there doesn't seem to be any likelyhood of an MTP signal in the offing and the next significant 15 min DP is still miles below the TTT pos LOD - perhapse this is just one of those 'keep the powder dry days' :confused:

[TAS]

Hi KB,

Nice MTP style trade, you have done per MTP trade management. Stick to the system you are following.

TAS


I took the TS3 sell on the NQ at 10:09 am exit at 1st profit target..
STF not at low band so I took profit..
"should a would a"...went lower..

tried to long ER noon on a 3min DP /exit BE quickly as the signal negated after a few bars more..
we looking at/for a bottom near TTT?

[TAS]

Hi EDDO,

Yes, this reminds me that once D-day said after some kind of powerful move like what we saw last Friday and this Monday, market MAY BE distorted. Already profitable overall in this trade though my last lot short is still in...

TAS



perhapse this is just one of those 'keep the powder dry days' :confused:

[Larry22]

Yes I see that - the only problem as I see is that there doesn't seem to be any likelyhood of an MTP signal in the offing and the next significant 15 min DP is still miles below the TTT pos LOD - perhapse this is just one of those 'keep the powder dry days' :confused:

A picture is usually allways beeter then trying to describe something. Here you go.

I bought ER2 at 738.1 based on this ES divergence and allready took partial profit as we speak.

Laurent

[Eddo]

Hi EDDO,

Yes, this reminds me that once D-day said after some kind of powerful move like what we saw last Friday and this Monday, market MAY BE distorted. Already profitable overall in this trade though my last lot short is still in...

TAS

That could be the case, but I went Long ES based on TTT proximity, Pos Trin, SFT divergence and expectancy of a rally (re TTT basics) - but its not a proper MTP setup so very tight stops are in like Laurent on his ER2 Long

[TAS]

I am not sure if I am lucky but so far I didn't get stoped since I myself call ER2 'STOP 1 TICK', thus my stop is 3 ticks above 3min pivot high.

Now is time lunch break big trader coming back, see how we go..

Good luck to longs as well as my shorts.

TAS

[Larry22]

That could be the case, but I went Long ES based on TTT proximity, Pos Trin, SFT divergence and expectancy of a rally (re TTT basics) - but its not a proper MTP setup so very tight stops are in like Laurent on his ER2 Long

Agreed as even if we had divergence we had no big spike of volume confirming that low, so let's be careful as we might dip a bit lower in that cluster area around 1272 and let's not forget that the trend is still down.

This could be wave 4 then we might have a wave 5 down.

As usual time will tell.

Laurent

[jands]

Hi Everyone,

I just starting a quick discussion while the lunch break is going on. My comments are opinions and not definative statements.

Today is a Sell day and we have had a Sell Day Violation. The target has been made in the YM and close to the others. THEREFORE, the target has been made and Taylor would call it quits for the day. So no more trades would be made on Taylor rules.

Any thoughts?

Thanks,

Jim

[TAS]

Hi Laurent,

Congrats on your longs as time just tell ER2 make more bucks for your money.

TAS

Agreed as even if we had divergence we had no big spike of volume confirming that low, so let's be careful as we might dip a bit lower in that cluster area around 1272 and let's not forget that the trend is still down.

This could be wave 4 then we might have a wave 5 down.

As usual time will tell.

Laurent

[kbandtheriptides]

did some news just come out ?
or a program trade trigger a buy ?
the shorts just got their pants taken off..

[Larry22]

I'm out at 745. Never tought the market would go that high :D

Now time to enjoy the rest of the day. I'm done ;)

[Larry22]

Hi Laurent,

Congrats on your longs as time just tell ER2 make more bucks for your money.

TAS

Thanks TAS, I must say that i never expected the market to go so high so quickly probably too much divergence had builded up and everybody took profits and some stops got taken out too.

[kbandtheriptides]

You guys are "lucky and good"..nice call on the longs..
how long did it take for you to develop your trading skills..

[Eddo]

did some news just come out ?
or a program trade trigger a buy ?
the shorts just got their pants taken off..

Na, just Wall Street reading our posts on hitting the TTT Low, divergence on the MACD and SFT, Pos Trin etc etc and they got the message - lol ......... ya hoo :) :)

Have a good night all - Iam out - Chris

[Eddo]

Na, just Wall Street reading our posts on hitting the TTT Low, divergence on the MACD and SFT, Pos Trin etc etc and they got the message - lol ......... ya hoo :) :)

Have a good night all - Iam out - Chris

BTW - if I understand Taylor, he also said that on a Sell day if the market opens lower and continues to go lower, SELL into any rally ............ think it could be time to go Short now ??

For me my day is over but if I were staying, I think I would now be looking at the Short side for the rest of the day ..........just my few £'s worth for what its worth

Good luck MTP'ers

Chris

[Larry22]

You guys are "lucky and good"..nice call on the longs..
how long did it take for you to develop your trading skills..

A few years. ;)

For RT about 6 month if you put a lot of hours to study your charts and look at all Steve's tutorial videos and webinar, then you have to make yourself a guideline to follow.

I'm very good with EW count but even with that sometimes I had trouble finding market directions as I had 2 possible counts going in opposite directions. Now since I combine the TTT book, MTP signals and a few indicators, this has increased my winning ratios to about 75% , good enough for me.

Laurent

[scooper]

BTW - if I understand Taylor, he also said that on a Sell day if the market opens lower and continues to go lower, SELL into any rally ............ think it could be time to go Short now ??

For me my day is over but if I were staying, I think I would now be looking at the Short side for the rest of the day ..........just my few £'s worth for what its worth

Good luck MTP'ers

Chris

60 min and 15 min ER2 have hit wave 4 areas as per MTP v6. This could now be a move higher until the end of the week when I have some timing elements anticipating a turn Friday or Monday.

Time will tell. Any lower than this low set today would most likely signal a much bigger decline.

Anything goes of course as the market does what it likes. Shame I was not long on that bottom, it was a rocket ship move for sure....

[kbandtheriptides]

In a book I read (trick of the floor trader)
... buy the leaper, sell the creeper and ..
knock thrice..
not that I'm jumping in but the ER may make a third knock on the high..
if so, it should leap again ??
we'll see..

[Larry22]

60 min and 15 min ER2 have hit wave 4 areas as per MTP v6. This could now be a move higher until the end of the week when I have some timing elements anticipating a turn Friday or Monday.

Time will tell. Any lower than this low set today would most likely signal a much bigger decline.

Anything goes of course as the market does what it likes. Shame I was not long on that bottom, it was a rocket ship move for sure....

Good analysis scooper that's one of the reason why I bought this low as I have this potential wave count, we either have made the top or one more leg up is missing wave 5 and as you mentionned we were close to the target for possible wave 4, we could have gone a bit further down but the big divergence that was building up on the ES made me bought even if I would have prefer to buy around 734.

Off course it is allways easy to say after the fact specially as this low was not as obvious as other corections since we had no clear ABC to buy but ES had one so I based my entry of ER2 on this possible ABC. Now we are in a 50/50 area (ES) as we may continue to go down and make a fifth wave down or climb higher and make that final fifth wave up. Reason why we play probabilities.

Time will tell.

[kbandtheriptides]

In a book I read (trick of the floor trader)
... buy the leaper, sell the creeper and ..
knock thrice..
not that I'm jumping in but the ER may make a third knock on the high..
if so, it should leap again ??
we'll see..

4th time was the charm..

[Larry22]

Once again not a bad day for the TTT book as today was a sell day and with that gap opening down we went to 2 points of the expected low on the ES.

I know some of you bought near that low as we had a nice MAC and stoch divergence and I also had a DP signal on the 3 min chart (not everyone may have had this as I still use a very old version of MTP RT).

Still it was nice to buy or take profits for shorts near that low.


Laurent

[Steve Griffiths]

Hi Guys

I know a few of you were looking to call the top yesterday, so here are the two set-ups that would have done that.

First, on the ES - a straightforward 5-wave rally that reversed at the Typical Wave C WPT.............

Secondly, on the NQ, Stochastic divergence at DP resistance......

Both of these are advanced trades, but they did both nail yesterdays high ...............

Steve

PS. MTP V6.0 is not real-time, this was fed from the MTPData1.efs in eSignal

[jay21]

A few years. ;)

For RT about 6 month if you put a lot of hours to study your charts and look at all Steve's tutorial videos and webinar, then you have to make yourself a guideline to follow.

I'm very good with EW count but even with that sometimes I had trouble finding market directions as I had 2 possible counts going in opposite directions. Now since I combine the TTT book, MTP signals and a few indicators, this has increased my winning ratios to about 75% , good enough for me.

Laurent

Hey Laurent - being the wizard EW counter that you are, would you have any books to recommend, ones that you may have found especially valuable? I have basic knowledge of EW, but I would like to take it one step further.

Appreciate your comments a lot!

Regards,
Johan

[Steve Griffiths]

Hey Laurent - being the wizard EW counter that you are, would you have any books to recommend, ones that you may have found especially valuable? I have basic knowledge of EW, but I would like to take it one step further.

Appreciate your comments a lot!

Regards,
Johan

Hi Johan,

My advice would be to "keep it simple", as outlined in Part 1 of the trading course. Just work off "clear, clean and obvious" swings, in particular ABC's and then 5-waves. BUT these have to be clear, clean and obvious.

Avoid "complex" corrections, including messy "overlapping" waves and "X-waves", these are unreliable and will usually lead to confusion and losses.

So as usual - "keep it simple" is the best advice, and that is what I have built MTPredictor around - the simple approach that works, avoiding all the complex stuff that can make EW so unreliable

I hope this helps ?

Steve

[Larry22]

Hey Laurent - being the wizard EW counter that you are, would you have any books to recommend, ones that you may have found especially valuable? I have basic knowledge of EW, but I would like to take it one step further.

Appreciate your comments a lot!

Regards,
Johan

Hi Johan, I have to say that Steve have answered part of your question as there is no book that I can recommend you as they are way too complicated. If you have read both MTP's course then this is a very good start. I use mostly the trend filter in MTP RT or EOD to identify waves, nothing complex and you can compare your counts to the EOD software to see if your count has some logic so keep these simple.

What makes the difference between an average EW analyst and a good one is that the good one is able to spot if the market is in an impulse wave or corrective one. From that point this is where I disagree with Steve's point of view but again I understand his as this is where it gets more complicated and not easy to apply, if you can't understand and apply the concept of a double ABC you will missed very nice corrections opportunities as very often corections are made this way. So this gives me a big edge over a lot of traders.

In conclusion there is no big secret, no books that will explain you wave concepts as I apply them as mine are based as same MTP EOD Steve's software (relationship with fib's projections and extensions) and you need to keep your count very simple so no books can teach you that. Then I also use indicators to spot divergence to help me find and confirm tops and bottoms. Finally the TTT book gives me another edge as it increases my chances as it gives me odds (%) on possible direction of the market.

I hope this will help you in your quest of becoming a better trader.


Laurent

[Larry22]

Hi Guys

I know a few of you were looking to call the top yesterday, so here are the two set-ups that would have done that.

First, on the ES - a straightforward 5-wave rally that reversed at the Typical Wave C WPT.............

Secondly, on the NQ, Stochastic divergence at DP resistance......

Both of these are advanced trades, but they did both nail yesterdays high ...............

Steve

PS. MTP V6.0 is not real-time, this was fed from the MTPData1.efs in eSignal

Yup saw that 5 wave advance in ES, one thing I allways do to try to spot a top or bottom is to look for possible cluster zone as yes we were at maximum wave 5 but ES was also at his 50% retracement (1294.25)of his leg down from 1313 but this was also the low of wave 1A on the 15 min charts so we had 3 cluster price telling us to sell there. Even if technically my day was done I coudn't pass on this one so I sold ER2 at 750.4

Laurent

[Eddo]

I don't trade the eMini 'out of hours' but looking at this one perhapse I should ! Wot a wopper :)

Secondly, it looks like it could be a down open today on this SSD and I note that GDT says

'When a stock opens down on a Short Sale Day and declines further - let it alone - for not knowing what it might do, it does not favor your play

- based on everything I have seen from his readings to date that might be very sound advice for today (if your thinking of going Short) - we will see - Chris

[scooper]

FWIW, my analysis shows that YM is the weakest of the indexes at the moment. We still have a chance of attempting a major wave 5 advance but if the broader markets drop below yesterdays lows this may fail completely.

My key levels are 740 area on the ER2, 11446 on the YM and 1271 on the ES. If these are penetrated with any momentum it will be unlikely a wave 5 will occur (but not impossible).

Its going to be a tough day I would say and as ever in potential wave 4's I am extra vigilant.

Finally, on the ER2 which has the best pattern to my eye, we need to hold above the lows of yesterday for the advance in the afternoon session yesterday to have a chance of being a wave 1 up of a major wave 5.

[kbandtheriptides]

Hey Scooper,
thanks for your analysis post...

[Larry22]

Well seems like my day is done as weather is so nice outside I will enjoy the pool. :D

Oh forgot to mention bought ER2 at 743.2 and sold the last lot at 750.2, 7 points is enough for me on the last lot. ;)

P.S. We should climb higher but I have made enough for today.


Laurent

[Eddo]

5 min ES now at Wave 2 or B

[Eddo]

Well seems like my day is done as weather is so nice outside I will enjoy the pool. :D

Oh forgot to mention bought ER2 at 743.2 and sold the last lot at 750.2, 7 points is enough for me on the last lot. ;)

P.S. We should climb higher but I have made enough for today.


Laurent

Good job Laurent

I would like to see the ES climb to around 1302 and then we have a nice Short area I am thinking - we have a nice 15 min DP and TTT project HOD in that area and it is a SSD so lets wait and watch

PS I assume you took your ER2 long off the open bounce on the 3 min DP?

[jands]

Good job Laurent

I would like to see the ES climb to around 1302 and then we have a nice Short area I am thinking - we have a nice 15 min DP and TTT project HOD in that area and it is a SSD so lets wait and watch

PS I assume you took your ER2 long off the open bounce on the 3 min DP?

Look at the 3 min chart from the 24 hour time frame.

[Eddo]

Look at the 3 min chart from the 24 hour time frame.

No signal on that for me on UK time - never mind I don't trade 24 hr charts (as per my YM example of earlier today) - but they seem to have produced two whoppers today :)

[scooper]

Well, I did not manage to get in. I was awaiting a reversal bar on the ER2 3 min but none came. I had the v6 EOD on the perfect ABC as well but I really needed a blue bar to make me commit.

Hence, I missed the trade of the week me thinks:o

Will have to wait for a correction to get in now. It certainly looks like the major 3 of the major 5 is underway...........

[Larry22]

Hi Guys

I know a few of you were looking to call the top yesterday, so here are the two set-ups that would have done that.

First, on the ES - a straightforward 5-wave rally that reversed at the Typical Wave C WPT.............



This should have been a red flag to anyone that wanted to sell the ES this morning a possible 5 waves advance on the ES had occured yesterday, so probablities are great that we may exceed that high as this can be renamed wave 1A and this morning's low 2B and are currently in wave 3C.

Hope this helps

Laurent

[Eddo]

No signal on that for me on UK time - never mind I don't trade 24 hr charts (as per my YM example of earlier today) - but they seem to have produced to whoppers today :)

But there looks to be a near perfect looking NQ 5 Min DP short setup in the offing

[Eddo]

Well, I did not manage to get in. I was awaiting a reversal bar on the ER2 3 min but none came. I had the v6 EOD on the perfect ABC as well but I really needed a blue bar to make me commit.

Hence, I missed the trade of the week me thinks:o

Will have to wait for a correction to get in now. It certainly looks like the major 3 of the major 5 is underway...........

Don't worry Scoop - sit around with me and wait for the ES to get to the 1302 level and we should be looking at a nice potential Short around there today :):)

[scooper]

Well, -1R on continuation trade on 3 min ER2 chart. I guess it was too much to ask for that......lets hope we get an ABC now....

I'm waiting with u!

[Eddo]

Well, -1R on continuation trade on 3 min ER2 chart. I guess it was too much to ask for that......lets hope we get an ABC now....

I'm waiting with u!

Am I looking for too much wanting to go Short around 1302 ?

[Larry22]

Well, -1R on continuation trade on 3 min ER2 chart. I guess it was too much to ask for that......lets hope we get and ABC now....

This is where it gets tricky as ES could have completed his C leg (weak one) and we are now in a 50/50 zone so everything is possible form here if we get a big decline this will mean that probably the top is in for the day and if ES breaks his high then we might go up all day long.

Let's not forget that ES made what it was supposed to do (go over 1285 during day session) based on the TTT book.

[scooper]

Well, my analysis says we might be in a wave 5 up now on the major time frame. The market has shrugged off the bad data today.

Its tough to call. Here is my chart of the 60 min - the wave down failed with the 5th leg stopping short as is common when the wave 4 area in pink is overrun. Hence, I was expecting the rally.

I was just posting this and missed a 2nd continuation entry on the 3 min....hope it does not run away to 759 now....

[Eddo]

Well, my analysis says we might be in a wave 5 up now on the major time frame. The market has shrugged off the bad data today.

Its tough to call. Here is my chart of the 60 min - the wave down failed with the 5th leg stopping short as is common when the wave 4 area in pink is overrun. Hence, I was expecting the rally.

I was just posting this and missed a 2nd continuation entry on the 3 min....hope it does not run away to 759 now....

Thats always my problem with this EW stuff - you look at the 15 min chart and it tells you a different story to the 60 min :confused: - but Iam trading 3 & 5 min charts so tend to use the 15 as my longer term template - hence my thoughts we might reverse today at its Wave 2 which also happens to be at a very nice 15 min DP and the TTT projected HOD ..........

[Eddo]

Thats always my problem with this EW stuff - you look at the 15 min chart and it tells you a different story to the 60 min :confused: - but Iam trading 3 & 5 min charts so tend to use the 15 as my longer term template - hence my thoughts we might reverse today at its Wave 2 which also happens to be at a very nice 15 min DP and the TTT projected HOD ..........

....... and we are now getting a juicy looking TS3 sell on the 15 min ES as well - :)

[jay21]

Hi Johan, I have to say that Steve have answered part of your question as there is no book that I can recommend you as they are way too complicated. If you have read both MTP's course then this is a very good start. I use mostly the trend filter in MTP RT or EOD to identify waves, nothing complex and you can compare your counts to the EOD software to see if your count has some logic so keep these simple.

What makes the difference between an average EW analyst and a good one is that the good one is able to spot if the market is in an impulse wave or corrective one. From that point this is where I disagree with Steve's point of view but again I understand his as this is where it gets more complicated and not easy to apply, if you can't understand and apply the concept of a double ABC you will missed very nice corrections opportunities as very often corections are made this way. So this gives me a big edge over a lot of traders.

In conclusion there is no big secret, no books that will explain you wave concepts as I apply them as mine are based as same MTP EOD Steve's software (relationship with fib's projections and extensions) and you need to keep your count very simple so no books can teach you that. Then I also use indicators to spot divergence to help me find and confirm tops and bottoms. Finally the TTT book gives me another edge as it increases my chances as it gives me odds (%) on possible direction of the market.

I hope this will help you in your quest of becoming a better trader.


Laurent

Thanks a lot Lauren and Steve above as well!

Laurent interesting what you say about double ABCs, and I suppose this concept is an important part of what you do to determine if a move is impulsive or corrective.

Myself I have tried to use Fibonacci numbers a tad but I find it very difficult as there are sooo many Fibonacci levels so basically no matter where my signal turns up I can find support from some certain Fibonacci number... - anyone recognizes this problem...?

[scooper]

Hi,

Re the fib levels - try looking for a number of levels at the same area and on different time frames. This increases the odds and works for me........but nothing will work all the time I am afraid!

[Eddo]

....... and we are now getting a juicy looking TS3 sell on the 15 min ES as well - :)

I would have prefered a bit higher - but for better or worse now Short ES :eek:

[jay21]

Hi,

Re the fib levels - try looking for a number of levels at the same area and on different time frames. This increases the odds and works for me........but nothing will work all the time I am afraid!

Right, I think I see what you mean..., will look into that - cheers!
Johan

[jands]

Sorry you got stopped out Chris, I was stopped out twice on the ER2. But it looks like the ES is headed for 1302.

[Eddo]

I would have prefered a bit higher - but for better or worse now Short ES :eek:

My Short ES stopped out for a 1R loss - but when taken it was a bit short of my high target which we are now closing in on so I will be happy to have another bash at it if I get an appropriate MTP signal around this 15 min DP or the TTT pot HOD (all around 1302 ish)

[Eddo]

My Short ES stopped out for a 1R loss - but when taken it was a bit short of my high target which we are now closing in on so I will be happy to have another bash at it if I get an appropriate MTP signal around this 15 min DP or the TTT pot HOD (all around 1302 ish)

Gone Short again on ES - stops and limit buy order in - going to leave it alone and not watch !

[Eddo]

:) Gone Short again on ES - stops and limit buy order in - going to leave it alone and not watch !

................ goooooooooo on my Son :) :) :)

[Minor]

Eddo check out the TS3 on 30min

[scooper]

:)

................ goooooooooo on my Son :) :) :)

You made a few R's me thinks....nice one!

I am still not in the market yet, missed the DP top earlier on the ER2 as I was on the phone.

Correcting now though so lets see!

[d-day]

Hi folks,

Popped in for a lunch at home and couldn't resist turning on the e-sig for a looksee ... the $INDU gives a good look at how basic support/resistance and momo divergence can help sort out the DP and TS wheat from the chaff - 5 minute and 15 minute combo shown here. Sure looks like we are set up for some sort of a pullback, if not a top of some degree. Note the little head and shoulders top formation on the 5 minute.

Best Wishes and Good Trading to all,

d-day

[d-day]

Note the little head and shoulders top formation on the 5 minute.

Neckline has been broken ... but the TS4 has a bit of pos. divergence in its favor. My bet is that we get a mini bear flag here and, at a minimum, the inital pattern target is fulfilled by a min. drop to 11530-ish. Bearish below 11605 and bullish above 11635 - neutral right here.

Back to business,

Good luck to all,

d-day

[jands]

Neckline has been broken ... but the TS4 has a bit of pos. divergence in its favor. My bet is that we get a mini bear flag here and, at a minimum, the inital pattern target is fulfilled by a min. drop to 11530-ish. Bearish below 11605 and bullish above 11635 - neutral right here.

Back to business,

Good luck to all,

d-day

Thanks for a point of view on basic SUPP/RES. It's always good to see what others are looking at.

Could you please tell me why you say 11530ish for a target?

I've looked at several things and don't come up with that.

Thanks,
Jim

[d-day]

Could you please tell me why you say 11530ish for a target?

I've looked at several things and don't come up with that.

Thanks,
Jim

Hi Jim,

I just eyeballed the high down to the neckline approx 90-95 points depending upon where you draw the neckline, so I eyeballed 90-95 points down from 618-624 and I chose 531 as a sort of average target. You could be more precise if you wish, but my eyeballs are good enough for horseshoes, hand grenades and trading ;)

Right now price is trapped between an S/R zone, and the longer price consolidates the more likely we get a reversal rather than a continuation. That being said, I still favor a move down to the 11530 level (and perhaps lower).

Best Wishes,

d-day

[jands]

In conjuction with D-days supp/res charts I spotted a manual ABC, (it would be a TS1), and traded that setup. The entry bar (1421 3min) was up against the resistance that Dday pointed out. Exit was based on (I was happy for the day) and in my opinion it was going to be a rejected test of the prior pivot.

Just another point of view on getting short with the use of the TTT numbers (high) that has been talked about earlier today. (And I chickened out for the original short entry at the HOD.:eek:

Good luck to all,
Jim

[jands]

Hi Jim,

I just eyeballed the high down to the neckline approx 90-95 points depending upon where you draw the neckline, so I eyeballed 90-95 points down from 618-624 and I chose 531 as a sort of average target. You could be more precise if you wish, but my eyeballs are good enough for horseshoes, hand grenades and trading ;)

Right now price is trapped between an S/R zone, and the longer price consolidates the more likely we get a reversal rather than a continuation. That being said, I still favor a move down to the 11530 level (and perhaps lower).

Best Wishes,

d-day

AHHHHHHH!!!, now I understand your target. Thanks for the reply.

Jim

[d-day]

Right now price is trapped between an S/R zone, and the longer price consolidates the more likely we get a reversal rather than a continuation. That being said, I still favor a move down to the 11530 level (and perhaps lower).

Best Wishes,

d-day

For those who subscribe to Richard's TTT service, you'll know we have pretty high odds of this pattern more than fulfilling its downside target on tomorrow's Buy Day.

[Larry22]

Well once again by combining MTP and TTT we were able to sell all indexes near their top. I mainly follow ER2 and ES and I had nice sell signal (DP for ER2) at the projected TTT high and a nice TS3 on the ES who allmost went to his 1302 projected high (1300.75).

We also had a bonus this morning as we had a nice ABC at the opening and following Richard's e-mail who stated.

(Tomorrow will be a SS day. We have a 85% + chance of getting above the Buy day low. Although we are in a negative mood at the moment we normally get a positive 3 Day rally, so look for that as a possible goal tomorrow.)

Plus we had a nice 5 waves rally from yesterday's low on both ER2 and ES even Steve posted the ES chart showing this. So this was an easy trade to pick also.

Laurent

[jands]

This could be the start of the decline for today.

From Rich with TTT.

Hi All

ES was kind of sluggish today but ER hit the lows and the took out the high. ES gust missed the high but not by much. That just made a pretty good 3 day rally.

Tomorrow is the BUY day. As we know we need a decline for the Buy day. So having closed near the highs of the day, most of the Decline should happened tomorrow.

Richard Boisvert

[Larry22]

This could be the start of the decline for today.

From Rich with TTT.

Hi All

ES was kind of sluggish today but ER hit the lows and the took out the high. ES gust missed the high but not by much. That just made a pretty good 3 day rally.

Tomorrow is the BUY day. As we know we need a decline for the Buy day. So having closed near the highs of the day, most of the Decline should happened tomorrow.

Richard Boisvert

Yup, that was to be expected.

I hope some of you sold that DP on ER2 15 min that was a nice trade with more then 9 points for me on my last lot.

My day is done as I have things to do this afternoon.

Laurent

[jay21]

Yup, that was to be expected.

I hope some of you sold that DP on ER2 15 min that was a nice trade with more then 9 points for me on my last lot.

My day is done as I have things to do this afternoon.

Laurent

Hey Larry - congrats!

I was just wondering what entry techniques do you tend to use, do you do traditional MTP or do you just execute when the price has reached your expected entry area. If the last is right, how do you manage your stops?

Because it seems to me that sometimes it would be difficult to get an MTP entry at the prices that you seem to manage it at so successfully... (not speaking about the trade you mention here but generally).

Cheers man!

[Larry22]

Hey Larry - congrats!

I was just wondering what entry techniques do you tend to use, do you do traditional MTP or do you just execute when the price has reached your expected entry area. If the last is right, how do you manage your stops?

Because it seems to me that sometimes it would be difficult to get an MTP entry at the prices that you seem to manage it at so successfully... (not speaking about the trade you mention here but generally).

Cheers man!

I usually enter a trade near targets that I have as my first stop loss is at 2 points from my entry so not MTP rule today I was a bit late on the trade as I was doing something else so I only sold at 762 and the top of the DP was about 764. If the market is near the top of the DP I will usually sell there again this is if this fits my wave count there are a few things to look at before taking a trade.

Today ER2 was finishing his wave 5 of wave 5 in a possible wave 3C so considering this and also the fact that we needed to go down for the TTT cycle the odds were strongly on the downside.

I hope this helps you to understand part of my trading technique as I based a lot my entries on EW, TTT and MTP if it gives me a signal (it usually allways do). Today the signal was very clear on the 15 min the DP was achieved and was the place (area)to sell that wave 5.

Laurent

[Larry22]

Today ER2 was finishing his wave 5 of wave 5 in a possible wave 3C so considering this and also the fact that we needed to go down for the TTT cycle the odds were strongly on the downside.
Laurent


Maybe this is a bit confusing to read so to help some of you visualize this I will add a pic of what I was trying to say. I'm sure everyone will now understand.

You will see that we were at the typical wave 5 (intermediate filter) this was also a DP from previous wave (major) and the minumum wave 5 target of the major waves. No wonder why the market dropped so quickly.

I have to say that I had all this wave count (manually labeled) on my Ninjatrader 15 min charts but anyone could have caught this if you would have followed the ER2 with the MTP EOD software.

[sullivar]

Larry,

Many thanks for posting the chart. You're analysis is something I definately learn from.

Cheers

Richard

[Steve Griffiths]

Hi Larry

I agree, that high was a "no brainer" as it was automatically found by MPT :)

Steve

[d-day]

Hi Larry

I agree, that high was a "no brainer" as it was automatically found by MPT :)

Steve


Hi Steve,

Looks good ... I do have a quick question: At which bar would MTP have both identified the five wave pattern and printed the typical wave five price target on the chart? Did it find the pattern as price was rallying, or did it identify it after the red reversal bar at the WPT?

Thank you,

d-day

[jay21]

I usually enter a trade near targets that I have as my first stop loss is at 2 points from my entry so not MTP rule today I was a bit late on the trade as I was doing something else so I only sold at 762 and the top of the DP was about 764. If the market is near the top of the DP I will usually sell there again this is if this fits my wave count there are a few things to look at before taking a trade.

Today ER2 was finishing his wave 5 of wave 5 in a possible wave 3C so considering this and also the fact that we needed to go down for the TTT cycle the odds were strongly on the downside.

I hope this helps you to understand part of my trading technique as I based a lot my entries on EW, TTT and MTP if it gives me a signal (it usually allways do). Today the signal was very clear on the 15 min the DP was achieved and was the place (area)to sell that wave 5.

Laurent


Thanks Laurent!

This confirms a hunch that I am trying to incorporate into my own trading model - that sometimes it might make sense to just enter the trade in the area where you feel it should turnaround, instead of waiting for the exact entry pattern to happen.

Obviously it makes the demands on proper and correct analysis higher than normal, and your wave analysis should be a great tool to accomplish such predictive power that is needed.

As you say - combining MTP, TTT and EW seems a great way to go about this.

So do I understand you correctly that when you are stopped out with a 2 point loss, you just tend to enter the trade again right away as long as it has not moved out of the range where you feel the wave should end?

[Steve Griffiths]

Hi Steve,

Looks good ... I do have a quick question: At which bar would MTP have both identified the five wave pattern and printed the typical wave five price target on the chart? Did it find the pattern as price was rallying, or did it identify it after the red reversal bar at the WPT?

Thank you,

d-day

Hi David,

See chart below, it found the Wave 5 high on the first bar that rallied to new highs. Giving you ample warning of the typical Wave 5 WPT

I hope this helps ?

Steve

[d-day]

Hi David,

See chart below, it found the Wave 5 high on the first bar that rallied to new highs. Giving you ample warning of the typical Wave 5 WPT

I hope this helps ?

Steve

Thanks Steve, that looks great! I take it you use the MTPdata efs's to "see" the intraday charts in MTPv6.

Here is another quick question: Does MTPv6 allow for viewing intraday charts using Telecharts Platinum Real-time service? Or is the only option for intraday charts in MTPv6 using e-signal? I know that MTP lets me toggle between daily and weekly charts in Telechart, but telechart also has intraday, for example, 5 minute, 15 minute, etc. does v6 allow one to toggle to the intraday stockcharts as well?

Thank you,

d-day

[Steve Griffiths]

Thanks Steve, that looks great! I take it you use the MTPdata efs's to "see" the intraday charts in MTPv6.

Here is another quick question: Does MTPv6 allow for viewing intraday charts using Telecharts Platinum Real-time service? Or is the only option for intraday charts in MTPv6 using e-signal? I know that MTP lets me toggle between daily and weekly charts in Telechart, but telechart also has intraday, for example, 5 minute, 15 minute, etc. does v6 allow one to toggle to the intraday stockcharts as well?

Thank you,

d-day

Hi Dave,

Correct on the MTPData1.efs, as outlined in this helps video - http://www.mtpredictor.com/help/videos/ESData1/ESData1.html

No, I am sorry but Telecharts do not allow access to their "live" or "intraday" data - only Daily charts from Tc2007 in MTP v6.0

Thanks

Steve

[Steve Griffiths]

Hi Everybody

Nice "manual" buy at the low of the day on the DAX, notice how I used the 15min Charts and DP for the analysis, then move down to the 5mim chart for the trade entry.

This is an advanced techniques I have discussed before

Steve

[Steve Griffiths]

Then.............

After +6R on the way up, we got an automatic 5min DP sell, so already another +5R on the way down !!

What a day on the DAX so far :)

Steve

[jands]

The market is moving like a drunk turtle. It's zigzaging pretty slow:D

[edfash]

ftse & russ still going down down down.

[edfash]

market traded from dp to dp

[banimal]

ftse & russ still going down down down.

Hi Edflash,

I was just checking my ER2 5 min chart for today and for some reason, I didn't get a TS4 setup at around 11:00 am as shown on your post. Do you possibly have some of the filters turned off? Or could there be some other reason the TS4 wouldn't show up on my chart. Thanks

Chris

[edfash]

chris: i have not changed any of the default settings in NT. are you on the day session template?

[banimal]

Hi Edfash, Yes I am using the daily templates. It's funny, the TS4 showed up using the MTP ver6.0 using the delayed data (exported via Market Analyser) but not on NinjaTrader. Not sure why but thanks for replying.
Chris:)

[edfash]

atr stop kept you in the trade all day

[Steve Griffiths]

Hi Everybody,

Yep, the 5min Russell was defiantly the "trade of the day", see below, where it followed a perfect EW pattern..........

Short from the high of the day - nice ;)

Steve

[edfash]

the es has come down in 5 waves into a dp zone from the 8-14 low using 24 hour data

[kbandtheriptides]

Anyone have a take on the potential 15 min DP NQ or the 60 min ES TS3 set ups?

[Larry22]

Anyone have a take on the potential 15 min DP NQ or the 60 min ES TS3 set ups?


The potential is there for ES but the only thing we don't know is if this will become the bottom of a C wave or the continuation of a powerfull wave 3 down. As ES has broken down a big rising trendline yesterday on the 60 min.

So you can try near 1263.50 where wave 1A = wave 3C and see what will unfold from there as we also have 5 waves down in the 3C leg for now.

Good luck

[d-day]

So you can try near 1263.50 where wave 1A = wave 3C and see what will unfold from there as we also have 5 waves down in the 3C leg for now.

Good luck

$SPX cash looks to be at 1orA = 3 or C, though momo giving no real clues as to immediate direction.

I have to get back to business,

Best Wishes,

d-day

[kbandtheriptides]

I took the NQ trade at 1924.75 but have a very tight stop now at 1923

[kbandtheriptides]

wacked.......

[d-day]

Also, the SKF (ultrashort financials) is looking to breakout, potentially to start climbing the right side of an intermediate term base - and the financials have been leaders to the downside since this Bear market began, so if the SKF starts getting bullish, then the general market and techs are likely to find the Bear Suit an easier fit than the Bull Suit.

[d-day]

wacked.......


You may be interested in doing a search on the TVGR or the "Trader Vic Gap Rule" here on the MTP forum ... I don't think I'm alone in being able to say that its application to my own trading has saved me many many R's.

[kbandtheriptides]

You may be interested in doing a search on the TVGR or the "Trader Vic Gap Rule" here on the MTP forum ... I don't think I'm alone in being able to say that its application to my own trading has saved me many many R's.

Yes I know it..
But being so close to the TTT #'s on the other markets and the NQ looking "stonger" at the time I made a try with an attempt to move my stop tight ASAP..
Could not get it to BE..
But it was the right call as the NQ broke on the "Knock three times rule",
thanks,
KB

[d-day]

Also, the SKF (ultrashort financials) is looking to breakout

SKF has just now poked its head above the falling trendline of the consolidation/basing, and if it is to continue higher, it looks like the July 29 high at 144.62 would be its next likely stop.

[d-day]

Yes I know it..
But being so close to the TTT #'s on the other markets and the NQ looking "stonger" at the time I made a try with an attempt to move my stop tight ASAP..
Could not get it to BE..
But it was the right call as the NQ broke on the "Knock three times rule",
thanks,
KB

i believe Dave thinks TVGR is stronger but dont quote me

In my opinion and experience, the Trader Vic Gap Rule trumps TTT, MTP, RSI, MACD, STF, dday.efs and any other acronym you can come up with.

I have not ever encountered any price phenomenon stronger and more relaible than TVGR.

Also, one aspect of TTT is that not all 3-day rallies are positive, and the TVGR often will clue you as to whether to expect a positive rally or a failed rally.

[kbandtheriptides]

So are we saying in general..
on a TVGR...
look to short all day on a Gap open down?
even if TTT's lows are met?

[edfash]

es has held 1262 pivot and wave 5 never surpassed 1.382 of wave 1. now on a 60 min TS3 buy

[d-day]

So are we saying in general..
on a TVGR...
look to short all day on a Gap open down?
even if TTT's lows are met?

I'm just saying that when the TVGR is in effect, my experience has been that it is better to trade with the gap than against it.

And remember that the TVGR applies to price and time, not just price, i.e. the gap. Gaps, of course, often can be succesfully faded. But if the gap is going to be filled, it will usually fill within the first 15-30 minutes of trading.

That being said, if you do a search on the forum, you will find that even the TVGR has not been infallible. Who knows? We might even close +200 points today, TVGR or no TVGR - it is all about playing the odds. Odds favor us closing on the low of the day today, but the market may choose to thumb its nose at the supposed odds.

One thing that makes Rich's TTT eBook so valuable is that it does a wonderful job of collating the statistics of recent past price action in order to determine the odds of various near future outcomes. We little guys need an edge against the sharks, and we don't need much of an edge to do very well, but we do need an edge. TVGR, TTT, MTP, and momo-divergence, if uniformly applied with disciplined risk management, yields quite an edge.

Best Wishes,

d-day

[banimal]

Looks like with the automatic routines, the ER2 on the 5 min chart may have just completed 5 waves down of a Major wave down, and could be reversing up now. I've never posted an image in a post so I have to figure out how to do that first.
Chris

[kbandtheriptides]

lots of conflicting signals..
3 and 5 min sells..
60 min buys..
and 1 min buys (usually go in opposite direction of them)

[d-day]

lots of conflicting signals..
3 and 5 min sells..
60 min buys..
and 1 min buys (usually go in opposite direction of them)

But TVGR says stay short or at the very least be wary of longs, as the odds favor that we close at or near the lows of the day.

Another favorite saying I heard somewhere along the way is this: "When in doubt, stay out!"

That also will save you quite a few R's as the years go by.

Best Wishes,

d-day

[edfash]

fwiw:

although the larger time frames have shown support and even buy divergence in the stochastic (not the stf). this would not preclude a short trade on a good signal, price obviously does not move in a straight line. price had retraced just about 38.2% of the last wave down (which includes the gap) or 50% of today's price action. in this instance perhaps trade management should be to take partial profit earlier and adjust stops.

[d-day]

Looks like with the automatic routines, the ER2 on the 5 min chart may have just completed 5 waves down of a Major wave down, and could be reversing up now. I've never posted an image in a post so I have to figure out how to do that first.
Chris

It sometimes seems that the universal weakness of we MTP-types is that we insist upon prematurely picking tops and bottoms (if I had 1R back for every 2R I've lost fading trend days with TVGR in effect I'd have enough back to take a year off lol) ... if someone were to put a gun to my head and force me to take a position right here, I'd go short with the odds, although if you really want to be an unreconstructed bull, you can always find reasons to support your view that we are at a bottom and ready to rally.

[Larry22]

Today was a short sell day and even if the market had 89% of going up to 1290 (ES) during the day, it failed to do so but the TTT low was achieved at 1263, went lower for ER2 and nailed the exact low on NQ, can't say for YM as I don't follow it and have no data.

So it wasn't a bad day afterall the only thing is that the rally from the low took a while to unfold and wasn't very big.

As d-day mentionned earlier with the Vic gap rule in place the short side was the way to go as the market wasn't able to make decents rallies today.

Laurent

[Steve Griffiths]

Hi Guys

A nice today today on the AB (and NQ) just the automatic set-ups -1R small loss, then +3.7R Profit = +2.7R profit overall............. and that is the name of the Game - small loss and larger profits.

Sometimes we can make this too complicated and try to "over think", Keep it simple is sometimes the best way

Steve

[Larry22]

Hi Guys

A nice today today on the AB (and NQ) just the automatic set-ups -1R small loss, then +3.7R Profit = +2.7R profit overall............. and that is the name of the Game - small loss and larger profits.

Sometimes we can make this too complicated and try to "over think", Keep it simple is sometimes the best way

Steve

Yup I sold 732.5 on the first signal but went away a few minutes and when I came back I was in the plus side as my stop-loss was still 2 points higher then my entry (734.5). I was lucky this time. :D

[Steve Griffiths]

Hi Everybody

DP support held at the low on the YM and ES

Steve

[jands]

Hey TTT Guys,

Anyone think the market needs to head lower to hit the buy lows for TTT?

[Steve Griffiths]

Anybody catch the TS3 sell in the 3min NQ ?

A great trade ............

Steve

[Larry22]

Anybody catch the TS3 sell in the 3min NQ ?

A great trade ............

Steve

Saw it and sold ER2 instead, as by following other indexes you can trade your favorite one's as usually they all go in the same direction when a signal is triggerd.
;)

[Larry22]

Hey TTT Guys,

Anyone think the market needs to head lower to hit the buy lows for TTT?

ER2 allready reached his first TTT low average.

I bought the low (725.6) based on a wave count and MTP signal, I allready took partial profits as the market can go lower based on my projections but I have now a free trade so I can't complain.

Anyway I sold the top based on NQ signal also. ;)

[kbandtheriptides]

Anybody catch the TS3 sell in the 3min NQ ?

A great trade ............

Steve

Yes ..I saw it..
no did not take it.. ????
as I'm still potty training myself ..I mean paper trading..
I'll get this right ...eventually..duhh..
it's costing me nothing but time ...right now..

[d-day]

I mean paper trading..
I'll get this right ...eventually..duhh..it's costing me nothing but time ...right now..

Hey there, Ripper,

Paper trading to learn how to day trade is like playing horseshoes to learn how to be a combat soldier ... completely useless and likely to get you killed.

Time is a most precious commodity. You'll do yourself well not to waste it.

As my good friend and fellow MTP'er jjc says, "It's only money."

Put that on a post-it note and stick it to your monitor.

Best Wishes,

d-day

[jands]

Hey there, Ripper,

Paper trading to learn how to day trade is like playing horseshoes to learn how to be a combat soldier ... completely useless and likely to get you killed.

Time is a most precious commodity. You'll do yourself well not to waste it.

As my good friend and fellow MTP'er jjc says, "It's only money."

Put that on a post-it note and stick it to your monitor.

Best Wishes,

d-day

Just to be safe, not that there isn't truth in what you say dday, but if I wasn't making money paper trading, risking real money probably wouldn't change that.

Good luck

[jjc]

kbandtheriptides

d-day is absolutely correct - if you sim trade all you do is sim trade bad habits

and besides, why would you even consider sim trading when you now own MTP, the most awesome trading method on the planet earth

dont listen to anyone else, take the MTP trades with real money using MTP and join us in stock market utopia

for goodness sake, dont you read the excellent trades posted?


j

[teflon]

Yea Tide,

Just gets all ur money together and throw it at those MTP signals.
U will learn after 2 or three accounts are blown out and u can join in with the big boys making millions with there $10000 accounts. Ha

[kbandtheriptides]

OK guys here's the skinny of it..
I blew an account a long while back..
I'm NOT going to do it again..
my plan is to do this for a year..and assess my progress..
just because I throw money into the equation will not WILL me results.
Plus learning the progam, the PC (I'm mac person) and struggling with data feeds and computer glitches can be hazzards too.

From my recollection auto-MTP had a VERY rough time earlier in the year..
I'm glad I did not jump in then..
right now it seems to be on the right track..
I'm also trying to learn some tricks of the traders from you guys.
as trading systems go with ups, come flat and down spots..
so say what you may..
that's my plan..
and I'm going to stick to it..
I just posted the message to get some flack as I figured I would about trusting the system....not about day trading/ paper trading..

I'm a tech scuba diver if you don't follow your rules you will end up dead..
but you practice your skills before you lay your life on the line to dive deep.
Just because you have a full air tank does not mean you will survive.

I'm doing the same with my in the wings trading account.(ie. air tank)

Thanks guys,
later,
KB:cool:

[teflon]

KB,
I am a retired pilot and have spent many hours in a sim honing my skills.
In trading just as in flying an airplane, one wrong flip of a switch can be disastrous. Sims are great for learning the mechanics of trading. Any trader, and that goes for experienced traders, that tells you that they have not made some stupid, expensive mistakes with order entrys and exits, are lying. Sims will never teach you the gut wrenching aspects (psychology) of trading real money, but are great for practicing your trading skills. I have found in trading and flying, when things go wrong, the psychology (fear,panic) can make things more difficult to deal with, but knowing the routines can save lives and in the case of traders, money.

[edfash]

as i'm sure everyone knows the russ is leaving the cme on sept 19 and migrating to the ice. the cme is promoting the midcap 400 or smallcap 600 as replacements to trade. the volume and range on these products is pretty thin, at least at present. doers anyone have any knowledge of the ICE and whether they are trading the russ at all presently? thanks and good luck to all.

[kbandtheriptides]

TVGR down on a TTT sell day ...
see what develops in the next 15 mins or so ..

[kbandtheriptides]

KB,
I am a retired pilot and have spent many hours in a sim honing my skills.
In trading just as in flying an airplane, one wrong flip of a switch can be disastrous. Sims are great for learning the mechanics of trading. Any trader, and that goes for experienced traders, that tells you that they have not made some stupid, expensive mistakes with order entrys and exits, are lying. Sims will never teach you the gut wrenching aspects (psychology) of trading real money, but are great for practicing your trading skills. I have found in trading and flying, when things go wrong, the psychology (fear,panic) can make things more difficult to deal with, but knowing the routines can save lives and in the case of traders, money.

Thanks..
As I said .
I blew an account/ had margin calls ect. ect..
so I know the psyc. aspect..
I don't want to go through that again..
I want to have a "comfort zone" when I start up again..
I'm getting there...on my terms..just like MTP signals..
I'm in control of my own risk..

[riccja]

I just noticed that the stf v3 settings on ts8 are 80,10,100 but on eod v6 they are 80,100,10

Which is the correct parameters?

Rick

[jands]

I just noticed that the stf v3 settings on ts8 are 80,10,100 but on eod v6 they are 80,100,10

Which is the correct parameters?

Rick

You should email support@mtpredictor.com

[jjc]

kbandtheriptides

you may think my post was tongue and cheek but im serious about taking the mtp trades

go look at a es 3min chart for today and u will see a perfect ts3 thats correcting from the lows

not to mention that ts3 setup was confirmed with rich's ttt for today

win win now and trailing stops

hold your nose and dive in the deep waters , aint no sharks out there :)

oh, and if ur going to sim trade then sim trade the correct setups or u'l wind up fish bait

j

[kbandtheriptides]

I have a TS3 on the 5 min (sell 2 @ 1279.50) not on the 3 min?

[kbandtheriptides]

I have a TS3 on the 5 min (sell 2 @ 1279.50) not on the 3 min?
no matter it's gonna get wacked anyway

[Steve Griffiths]

no matter it's gonna get wacked anyway

No it did not, it declined into the DP from the prior Wave B low, which is the exact "initial" support zone expected...........

This is what everybody has been saying, if you are going to use your "paper tarding" time to learn how to use MTP, then it is worth while taking the time and read all you can and understand what these setups are and how they can unfold. As many on this Forum have shown, MTP is a very powerful program with some very powerful tools...

Steve

[kbandtheriptides]

Here is what I had trigger,auto 5 min ES..10:25am
Sell 2 at 1270.50 stop at 1273.75
1st target 1263.75

no red atr ..no profit zone hit ..keep stop in place..correct..

I really don't know how to post charts with a pc..
would like to know how if it's not to much of a hassle for anyone.
thanks,
KB

[Steve Griffiths]

Hi KB,

Correct, and the basic level, but then with a weak STF and looking likely that we are making a sideways and choppy day, the advanced trader will know that "if" an ABC is going to fail then it will "most likely" make the DP from the prior wave B swing, which is exactly what happened here..........

I hope this helps ? - and all part of the learning ;)

Steve

PS, a good read is the new V6.0 Introduction PDF at: http://www.mtpredictor.com/support/home.php

Thanks

[kbandtheriptides]

Hi KB,

Correct, and the basic level, but then with a weak STF and looking likely that we are making a sideways and choppy day, the advanced trader will know that "if" an ABC is going to fail then it will "most likely" make the DP from the prior wave B swing, which is exactly what happened here..........

I hope this helps ? - and all part of the learning ;)

Steve

PS, a good read is the new V6.0 Introduction PDF at: http://www.mtpredictor.com/support/home.php

Thanks
Steve,
Thanks for the info..
I'm just trying to do this right,
but trading experience is one of the keys that needs to be earned over time..
you can pay for it in many different ways..time.. $$ ..Psyc..all the above..

trading is like a chess game where the pieces can be switched at a moments notice on the board and adjustments need to be made ..
I'm still learning the multitude of 3 dimensional rules...

thanks,
KB

[edfash]

remember kevin when taking this trade you are trading within a coil of declining volatility. this is not a correction in a trending market or a correction after an impulsive wave. always pay yourself something and adjust your stop when trading these kinds of market conditions. the most likely initial support is the dp off the b wave, it is a minor wave and my filters are set for intermediate so i am unable to put it on the chart, but you know it is below the b wave pivot. i hope this helps.

[Steve Griffiths]

I agree, a tricky day today, but this is just the natural cyclical nature of trading, we have a few very good and very profitable days, these are then followed by hard