US Markets: Real-time Trading

[Steve Griffiths]

Hi Everybody

Another perfect example of this on the 3min FTSE........... Click on the chart below to enlarge........

See how the Bar going into the DP was a high volume VSA Spike, then "the next bar" was a blue (buy) Bar, this was the very bar of the low of the day !!

The result was a nice +5R Profit at the opposing DP target

I do hope you are all making good use of these new features that are being added into MTPredictor v6.0 ?

Steve


Oops, posted in the wrong section............... But still a nice trade example ;)

Steve

[Biggo]

Hi Steve

Like the examples of VSA Spikes you have shared with us.

Would make sense to me to make them available for the RT add ons in Ninja, E signal etc so that " real time " alerts could be set up or use Market Analyser in Ninja.

I know you intend to add the VSA spike to the EOD scanner in MTP v6 in the future but from a layman's perspective seem quiet logical to add these features to the RT add ons, rather than have to monitor all markets on all time frames using timed delayed updates in MTP v6 manually

Hope you understand what I mean?

Cheers

Biggo

[Steve Griffiths]

Hi Biggo

That is why we are working on a real-time version of MTPredictor v6.0....

I could have not released any of these minor upgrades and extra features until everything was complete, but I thought you would all benefit from them, so I have released these enhancements early

Thanks

Steve

[Steve Griffiths]

Hi Everybody,

I hope you all caught the TS2 buy on the 3min ES earlier..........

Click on chart below to enlarge........

A nice +4.7R Profit there :)

Steve

[Steve Griffiths]

Hi Everybody

60min Dow is at an interesting position, see chart below............

Will this make a high at this level ?

Steve

[Steve Griffiths]

Hi Everybody,

Perfect example of one of my favourite trades on the 3min FTSE this morning

http://www.mtptrader.com/showthread.php?p=18625#post18625

:) :)

Steve

[Steve Griffiths]

Hi Everybody,

What a brilliant day on the US minis yesterday.......... I woulds like to share a few potential trades, staring with the standard and automatic TS3 buy early afternoon............... A standard setups so you all should have got that one.....

But in the next two posts I would like to share two "advanced" trades to show you want MTPredictor can really do ;)

Steve

PS, Click on chart below to enlarge

[Steve Griffiths]

Here is the first advanced trade...........

It is a VSA, high volume spike into DP resistance, after a break to new highs. This is exactly the kind of setup the VSA / DP combination is designed to catch.

A nice +5.5R Profit at the opposing DP...........

A perfect example, straight from my Training Webinar a week or so ago

Steve

Click on chart to enlarge...

[Steve Griffiths]

And here is the last one....

Again, an Advanced setup because it uses the Elliott Wave Module.

Here we had the combination of a minor abc decline, with the low both at the minimum Wave C WPT and DP support........... all of this on Stochastic divergence as well.........

This nailed the low, just before a sharp rally into the close for a nice + 3.5R Profit.... Add this to the profits from the trades from the last two posts, and this made this a very good day :)

I hope some of you caught some of these trades..........

Steve

Click on chart to enlarge....

[Steve Griffiths]

Hope you all caught this Ts3 sell ;)

Steve

[richbois]

There was also an other signal earlier in the day, shortly after the open that returned a 6.3 R/R.

Today was a Sell day and we opened right at the projected TTT high so I was looking for any signal to short. Once entered this trade it was just a matter of following the ATR stop all the way down and that took us to near enough to the TTT projected low. The TTT low was achieved later with Steve's trade.

[Steve Griffiths]

What a brilliant day yesterday on the ES.........

First, as you can see we were at "larger degree" DP support on the 15min Chart, so you should have been looking for longs........

And that is what happened with a beautiful DP buy that had you long from the very bar of the low of the day !!

The 5min ES then rallied and standard trade management would have swapped to the ATRStop - the result a very nice +4.8R Profit........

This was a trade all MTP's should have nailed :)

But could you have made more ? See my next post ...

Steve

Click on the chart below to enlarge

[Steve Griffiths]

well, this is where all those hours reading and studying the Trading Course will pay off ;)

As you can see from the chart below, the ES rallied in a strong Wave (3) type swing, reaching the "extended Wave 3 WPT", any Wave (3) that rallies this far is over extended and likely to reverse. Combine this with a VSA high volume bar and that you were sitting on almost a +10R Profit at this stage and common sense should have told you that it would be sensible to look to protect this profit.

This is where a Human Being will always out perform a PC (automatic trading) because we have "common sense" and can assesses a market as it unfolds... This is why I always say that if you want to become a great trader then take the time to learn how to trade, never just let a PC do it for you, they will never be as good as an experienced trader.....

Steve

[grose]

There was also an other signal earlier in the day, shortly after the open that returned a 6.3 R/R.

Today was a Sell day and we opened right at the projected TTT high so I was looking for any signal to short. Once entered this trade it was just a matter of following the ATR stop all the way down and that took us to near enough to the TTT projected low. The TTT low was achieved later with Steve's trade.

Hi Rich,

I'm using NT with ZenFire, and the first DP (unfortunately) did not appear.

You mentioned you were working on a manual that described how TTT could be used with MTP. From your posts, it appears TTT can be a useful tool in your arsenal. If the manual is available, please let us know where to retrieve it. Thanks!

Gordon

[Steve Griffiths]

Hi Guys

I know this is not directly related to this thread, but the DAX has had an amazing morning this morning - +20R Profit over two trades........ amazing !

http://www.mtptrader.com/showthread.php?p=18651#post18651

Steve

[richbois]

These were the comments in last night's report:

Tomorrow is Sell Day. Having closed on the lows of the day and having a 58-61% chance of making Lower lows, I would expect the rally to start after these lows are in place. Should we open with a gap down below today's lows we will have a 96% chance of getting atleast above today's lows.

Well today we started with the additional decline and once we reached the projected lows TF 3 min fired a TS4. That ended up a great 12.5 R/R. Following the ATR stop for a while however when reaching the projected high 12.5r was enough.

[richbois]

Hi Rich,

I'm using NT with ZenFire, and the first DP (unfortunately) did not appear.

You mentioned you were working on a manual that described how TTT could be used with MTP. From your posts, it appears TTT can be a useful tool in your arsenal. If the manual is available, please let us know where to retrieve it. Thanks!

Gordon

Hi Gordon

I don't remember if this was a manual DP or not and as Steve often mention different settings can produce different signals.

TTT is a very usefull tool to have and when used in conjunction with other tools like MTP, it can improve your results.

I wrote a Guide to Trading TTT E-books, that is available FREE to all TTT subscriber. It explains TTT and shows you how to use the nightly report to your advantage.

Check my website for more info and also see a few more trade examples using TTT and MTP. www.taylortradingtechnique.net

[Cyber56]

Hi All,

Some great trades to be had on the ES and YM 3 minute charts with the use of Manual DP's.

Eric

[Steve Griffiths]

Hi Eric,

What a brilliant trade, well done, nice how it nailed the high perfectly before the sharp fall :)

Did you see how we also had a "VSA high volume spike" going into the DP resistance as well. A trade setup I have discussed before and one to watch out for at DP's.

Well done Eric, a very nice +6R Profit for you there ;)

Steve

PS, click on chart below to enlarge

[Steve Griffiths]

Hi Eric,

What a brilliant trade, well done, nice how it nailed the high perfectly before the sharp fall :)

Did you see how we also had a "VSA high volume spike" going into the DP resistance as well. A trade setup I have discussed before and one to watch out for at DP's.

Well done Eric, a very nice +6R Profit for you there ;)

Steve

PS, click on chart below to enlarge


Click on the chart below...........

Notice how this 3min DP sell "falls in" with the larger degree 15min position perfectly (again on the 24hr chart). This is what I teach and why it is always a good idea to keep an eye on the longer term charts

Steve

[Steve Griffiths]

A good start to the day............

With a nice DP buy at the low, resulting in a possible +3.4R at the opposing DP

Steve

[Steve Griffiths]

And just for an unbiased view

We all know that losses can and do occur, so here is one on the 3min NQ......... But this was kept small at just -1R, which is much smaller than the +3R profit on the ES (my prior post). Big profits and small losses, that is the key to successful trading.....

Thanks

Steve

[Cyber56]

Hi Steve,

Here's my interpretation of your ES trade above using a 3 minute chart of the 24 Hr session.
Same entry - Different target !! ;)

Eric

[Steve Griffiths]

So far so good.

A nice high volume (VSA) spike at the Typical Wave (5) WPT looks to have nailed a nice high today :)

Steve

[Steve Griffiths]

So far so good.

A nice high volume (VSA) spike at the Typical Wave (5) WPT looks to have nailed a nice high today :)

Steve

This was also an automatic DP sell on STF and Stochastic divergence......... adding yet more weight to this setup, so there is no excuse that you all should have been all over this one :)

Question for the advanced traders among you ? Was there any reason why you should have look for the lower DP zone to take profits rather than the normal initial one on this 3min YM Chart ?

Steve

[Steve Griffiths]

This was also an automatic DP sell on STF and Stochastic divergence......... adding yet more weight to this setup, so there is no excuse that you all should have been all over this one :)

Question for the advanced traders among you ? Was there any reason why you should have look for the lower DP zone to take profits rather than the normal initial one on this 3min YM Chart ?

Steve

The answer - because of the TS4 sell on the "larger degree" 5min Chart

Steve

[Steve Griffiths]

WOW...............

I hope you all caught the automatic DP buy on the 3mon NQ :)

Had you long from the very low of the day. Standard trade management switched to the ATRStop as the STF Strength band was exceeded, which held the long trade into the close....

The result, a massive +16R Profit :) :)

I hope you all caught this one !

Steve

PS, click on the chart to enlarge

[jands]

I posted this in another forum concerning Rich's TTT and an Elliot Wave count.

Good luck,

Hi Everyone,

I was doing a little review and research for tomorrow and thought that I would share it with you. It goes with Rich's note (see previous post)for tomorrow and if the opening unfolds tomorrow as he mentions, we should be ready for a good ride.

Why? My elliot wave is not the best but I believe this count to be obvious. We have had 5 text book waves down, the corrective waves 2 & 4 subdivided into ABC patterns and the last Wave 5 subdivided into a 5 wave impulse wave, which resulted in Wave 1 = Wave 5. (My understanding is it doesn't get much better than this as far as being clear and obvious, yielding good results).

So which way? After the 5 waves, a corrective pattern against the last trend ensues in the form of an ABC correction. The pattern should retrace just past the major Wave 4 pivot.

Since the TTT numbers are a paid for service I can't release them until later tomorrow, that would be up to Rich.

I just wanted to post ahead of time with the analysis, I hate giving after the fact news.

Let's watch, and see how well it works with the TTT numbers!

Good luck and good trading,

PS. This is not a recommendation to buy or sell, just a point of view[}:)][;)]

One more thing, Wave 5 of the larger Wave 5 will equal Wave 1 of the larger Wave 5 at 797.25. So maybe a little more room to go.

[jands]

Hi All,

I just realized that I referred to the wrong post, I was referring to Rich's email last night.

To match the wave count we had a 67% of a lower low and we did.

The trade that I made was just prior to the open in the premarket. The entry was 4 points above the projected low of 789. My trailer was stopped out but made a little.

Hope you did well and sorry for the confusion.

My wave count didn't nail the turn at 100%, but did hit another fib level. However, with it and the TTT numberit made for a good start of the day,

Good luck,

[Steve Griffiths]

Hi Guys,

Bearing in mind that a rally was anticipated today, I thought this TS3 buy was worth a look, even thought it was against a red STF.

So far at just over +6R Profit ................ nice :)

Steve

Click on chart to enlarge...

[Steve Griffiths]

The rally did not continue too far......

In fact it the ES went up only to make a very good looking TS3 sell on the 5min Chart (Click on chart below to enlarge). This nailed the high of the day for you as the ES then fell sharply for the rest of the day.........

What an amazing day :)

Steve

[davidh]

With reference to jands's posts above maybe we should now be looking at support coming in around 720 on the ES, although I know looking for the end of a wave 5 can be a risky business.

Good trading,
David

[jands]

With reference to jands's posts above maybe we should now be looking at support coming in around 720 on the ES, although I know looking for the end of a wave 5 can be a risky business.

Good trading,
David

I think that is a good idea, if a bottom does form there, looking for a TS1 off of an important bottom is a great trade. And it will probably form an ABC corrective pattern so I will take that into account for my target.

However, the markets have rallied overnight so we will just have to wait and see how it works out.

Good luck,

Jim

[Steve Griffiths]

Will the Wave 5 low hold.............. as always always treat the end of a strong trend with caution...........

Steve

[Steve Griffiths]

Hi Everybody,

What a brilliant day on Friday, particularly on the 3min NQ..... Click on the chart below and you will see a perfect TS3 sell setup, that declined into the first projected profit target for a very nice +5R Profit............

Nice :)

Steve

[Steve Griffiths]

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

We had a perfect VSA high volume spike that unfolded at double DP support, which nailed the very low of the day !

The NQ then rallied sharply from there for a very nice +5.7R Profit on the close

What a great day on the NQ :)

Steve

PS, Click on the chart below to enlarge

[Steve Griffiths]

Interesting position on the 15min Charts at the moment

Click on chart below

Steve

[Steve Griffiths]

Hi Everybody,

As all professional trader know, after a strong day in which a big move unfolds, the day "following" that is very often a sideways and "choppy" day. When this happens the DP is a brilliant tool for finding trade setups

As you can see from the chart below (click on Chart to enlarge), the DP nailed most of the highs and lows on the 3min ES yesterday and as such uncopverd some very nice trades for you.

I do hope you are all making full use of all the tools that MTPredictor has available, because if you are not, then you are missing out on some great profits :)

Steve

[Steve Griffiths]

Hi Everybody,

I just wanted to show the result of a trade that we discussed live in my training webinar earlier today......... Click on chart below to enlarge.

As you can see, the NQ reached the projected profit target off this "Gap Opening" trade setup, exactly as was suggested in the webinar......

Always nice when a trade turns out as anticipated, especially when it was discussed in front of a live webinar audience ;)

Steve

[Steve Griffiths]

Hi Everybody,

Yes, there were some nice automatic buy set-ups later in the day, but (as I am more technical) I liked the "advanced" stuff that unfolded on the 3min NQ. Click on chart below to enlarge.

What I liked about this was not only that the decline from the Wave 5 high unfolded as a minor abc, but that the low was not only at WPT support, but also at the DP from the prior Wave (4) low, which is the perfect place for a low to unfold. Then, we also had Stochastic divergence (not shown) and a VSA high volume spike.............. all of which added weight to this buy setup

Seriously this was about as good as it gets :)

The result, a nice +6R Profit as the NQ moved higher.........

I juts hope you have all taken the time and put in the work to be able to understand what to look for in setups as good as these, because they unfold regularly and MTPredictor can find them for you. You just have to be prepared to do the work to know what to look for. Many traders are simply not prepared to put any work in, it is no wonder 97% of amatuers fail !

Thanks

Steve

[Steve Griffiths]

Hi Everybody,

Before I start this post I want to stress that this is an "advanced" post" using "advanced analysis" and not the standard setups. I post these from time to time to show what MTP is capable of in the hands of an advanced trader..........

Click on the chart below to enlarge.

Here we can see how the rally off the low, into the DP resistance area, unfolded as a minor abc. We know that the abc pattern is corrective, so this combined with Stochastic divergence represented a short trade entry.

As you can see, this had you short before the sharp fall into the close for a very nice +9R Profit.

But again, I stress, this is advanced analysis aimed are the more experienced users among you to show what MTP is capable of :)

Steve

[edfash]

On strong trend days, retracements to key moving averages in various time frames can be sites of excellent trade location. The beauty of the trade Steve posted above is that the abc was the first retracement into the 20 exponential ma on the 15 minute chart. An abc correction in a lower time frame, that occurs in the context of a continuation pattern on a higher time frame (in this instance a bear flag on the 15 minute chart into the 20ema) is called a "power sell" and frequently leads to new lows as it did in this case. the first post is from a 1600tick chart and the 2nd a 15 minute chart.

[Steve Griffiths]

Hi Everybody

Here we again, just one day later and exactly the same pattern, this time on the 5min NQ.............. so I can assume that you all did your homework after my post yesterday and as such were all prepared for this pattern and as such you all have been short from the high of day on the NQ. If not, then there is no excuse, as I posted this as a training exercise just yesterday, if you are not going to pay attention and then make use of these post then I would have more fun playing Golf instead.

Seriously, I do these posts for all your benefit so you can then learn from them and then use MTP to find good trades like this. Whether you take notice and do your homework is up to you. If you don't, then you are just throwing good profits like this away.....

Steve

PS, Click on the chart to enlarge

[richbois]

Not a bad day for TTT and MTP on this TF trade

Got a TS4 signal but it was at TTT highs projected and it ended up producing a nice 5.1R

[Steve Griffiths]

Hi Rich,

Yep, then the final rally of the day was caught by this nice TS3 buy on the 5min Russell :)

Steve

PS. Click on chart below to enlarge..

[Steve Griffiths]

Hi Everybody,

Many of you were looking to the short side yesterday for your main trades, so this TS4 sell on the 3min Russell fitted the bill perfectly.

What I also liked about this was how the ABC rally off the lows also stopped right at the prior DP level. This is exactly the same setup as I have outlined very recently, so there was no excuse for any of you to have missed this one ;)

As the close of the session was approaching and you weer siting on such a good profit (over +7R) it would have been a good idea to keep your stops tight.

But again a perfect example of the ABC move into a DP that I have highlighted many times before

Steve

Click on the chart to enlarge

[Minor]

Yo, Ho,Ho,Ho

[Steve Griffiths]

Yo, Ho,Ho,Ho

Exactly, the ES just gave us an early Xmas present ;)

Steve

[splitbrain]

Wouldn't you have exited on the ATR stop?

[Steve Griffiths]

Wouldn't you have exited on the ATR stop?

Because it had not reached the first target.......

Steve

[Steve Griffiths]

Hi Everybody,

Although it was against the 60min DP, there was a potential TS3 buy on a high volume (VSA) spike later, as the profit on the 3min DP sell was coming in.

Again, for the advanced traders among you - as this was "against" the 60min DP "if" you had taken this long you should have been looking to Bank profits quickly and not run to the normal profit targets. This is where the DP came in. As you can see, this nailed the high of the day for you, where a potential +3R profit was available.

Again, this is where knowledge and experience come in, and why I encourage you all to learn how to trade to a higher level with MTPredictor

Steve

PS, Click on the chart to enlarge

[Steve Griffiths]

Hi Everybody

A beautiful "Gap Opening" play this morning on the 3min NQ.................

Steve

[Steve Griffiths]

As a PS to my last post

What I particularly like about this setup was how the decline into the DP support zone unfolded a a 3-swing (ABC) pattern :)

Steve

[Steve Griffiths]

Hi Everybody,

I hope you all spotted the VSA high Volume spike that reversed at the DP level to nail the high of the day yesterday ?

If so, then you would have been short ready for the sharp fall later in the day............

Steve

Click on chart to enlarge.

[Steve Griffiths]

Hi Everybody

A perfect example of why Position Sizing is so important.

2 small -1R losses, followed by a massive +7R Profit, so only 33% correct but still made +5R Profit overall............ This is what most amateur traders simply do not understand, you do NOT have to have a high % of winners to be profitable............

Steve

[Steve Griffiths]

Hi Everybody,

Just a quick "snapshot" of the longer-term 15min Chart of the ES

Steve

Click on the chart to enlarge

[splitbrain]

Presumably the long trade at the DP low wouldnt have been entered due to no divergance on the Stoch's?

[Steve Griffiths]

Presumably the long trade at the DP low wouldnt have been entered due to no divergance on the Stoch's?

Hi,

I was not posting this 15min chart for specific trades, but just for a larger degree picture

Steve

[Steve Griffiths]

Hi Everybody,

A good day on the 3min ES yesterday. A nice +4.5R Profit up into the sell at 12:12EST. Although this sell would have resulted in a loss (yes losses can and do happen ;) ) this would have been kept small at just -1R.

So overall +4.5R -1R means +3.5R Profit overall :)

Notice how the high of the day then unfolded right at the DP level - nice !

Steve

[Steve Griffiths]

Hi Everybody

Nice Ts4 sell on the 3min ES currently underway............ this "fits in" with the bearish 15min DP that I looked at yesterday :)

I hope you are all in on this one..............

Steve

[richbois]

Again the team of MTP and TTT gave a nice trade

Today was SS day. Only TF managed to make a new high but not by much. Since the others failed to follow then the markets went and tested the lows with ES reaching the precise projected lows.

[edfash]

15 min ABC with C subdividing into 5 waves. huge volume on the buy side at the end of day

[edfash]

a 135 min es chart (3 equal period per day session) and a 120 min dax chart shows how rangebound we've been

[mlomker]

15 min ABC with C subdividing into 5 waves. huge volume on the buy side at the end of day

EWI has been predicting a move up to 949-971 to complete a triangle. If it happens then the fall from there will be fun. Their count is invalidated at 846 so we'll know soon enough.

[Steve Griffiths]

Hi Everybody,

I hope all the expert traders among you nailed the high of the day on the ES yesterday ;)

As you can see from the two charts below, the 15min DP (from the prior Wave 4 high) gave the "initial resistance zone". Then you had a perfect "failure" at new highs right at the 3min DP on Stochastic divergence right at the 3min DP. This nailed the exact high of the day for you !!

This was a perfect setup, so I hope that all of you have read the Trading Course again and again so you know how to spot these kind of setups. Because if you do not put the work in then you are just throwing away brilliant setups like these :)

Thanks

Steve

[Acuity]

Steve,

Is there something that persuaded you to take this on 3 minute chart versus less profitable 5 minute? Also, following profit taking guidelines, wouldn't you have taken off half at 3:1 before the STF exceeded the band? Thanks.

[Steve Griffiths]

Actually,

For the advanced trader the High volume spike reversal at DP support was the best place to bank profits for a nice +4.6R Profit.

Click on the chart below

Thanks

Steve

[mlomker]

Today was peculiar to me. There is a clear 5-wave pattern on 60 min ES but the market went sideways to up today. I suppose it could just be due to the low volume...the pattern might complete on Friday before heading up.

[Steve Griffiths]

Hi Everybody........

I hope you all had a good Christmas............ Here is a great pressy that has just unfolded on the 3min YM.

A nice TS3 sell that results in a +5R profit (approx)

:)

Steve

PS. Click on the chart to enlarge

[richbois]

TTT and MTP did it again as TTT nailed the lows on TF with a DP signal on 3 minute chart and a TS3 on the 15 min with wave A = wave C. We also had lots of divergence on the 15 min chart

Nice reward with low risk even if you only got part of it.

I hope one and all had a great Christmas and wish you a very Happy Healthy an Prosperous New Year 2009

[Acuity]

Could you post a screenshot of the parameters you are using for your fifteen minute chart; my price bars look identical, but no TS3 signal for me.

Thanks.

[richbois]

Use at your own risk as Steve does not the recommended these settings for non experienced MTP user.

[Steve Griffiths]

Hi Guys

Please never, never untick the 2+2 Filter, as this is then give you incorrect setups.............

There are also a number of other settings here that we do not recommend that Rich uses. As he said, these are for experienced users, everybody else should stick with the defaults or ask us directly.

Steve

PS, please see attached for the DP support on the 15min Chart on the ES yesterday

Thanks

[Acuity]

Thanks, it was a symmetry parameter that made the difference; I prefer to leave the default on.

I noticed a Major DP parameter; don't see it in NT addon; what charting platform are you displaying?

[Steve Griffiths]

Please do not use his settings, they will just confuse you, as such I will remove his Gif to avoid further confusion

Thanks

Steve

[richbois]

Please do not use his settings, they will just confuse you, as such I will remove his Gif to avoid further confusion

Thanks

Steve

Sorry Steve

[Steve Griffiths]

Hi Everybody,

Here is an "advanced post" for the "advanced users" among you.

As you should all know, I love to see a minor abc sub-division of the "correction" to the "initial swing" off a low or a high, as this normally leads into a strong swing.

Well, this is exactly what unfolded on the 3min ES yesterday. Click on the chart below.

I don't expect many of you to have actually caught this beautiful +6R Profit because very few people take the time to learn, study so they can understand setups like this. So brilliant profits like these will be for just the more experienced among you.

As you can see, MTP can find some brillaint trades, you just have to be prepared to do the work.

Steve

[Acuity]

... which showed up as a TS3 on the 5 minute YM chart at the same time.

[Steve Griffiths]

Yep............. another reason to catch the late rally in the close yesterday :)

Steve

[mlomker]

... which showed up as a TS3 on the 5 minute YM chart at the same time.

That trade moved rather quickly to get a fill. I didn't catch it.

[Acuity]

Not sure I understand your post; YM trade would have been filled at second bar after signal bar (first red bar) at 8541; then there were about 10 ticks of heat to get in at a better price before it turned around and never looked back.

[Deucalion]

Manual DP off previous Intermediate DP -

[mlomker]

YM trade would have been filled at second bar after signal bar (first red bar) at 8541

Are you entering these trades using limits or stop limits? I haven't figured out how to enter a stop limit order in the Ninja DOM.

The problem with limit orders is that price has to trade through the entry price, you enter the limit order, and then it has to back up to fill you. This doesn't always happen...price did not back up on this trade.

I've tried market orders and that's far too dangerous with a system like this one that has a low win rate and depends upon controlled risk to work.

[mlomker]

Manual DP off previous Intermediate DP -

It was obviously valid. The real question is what about it is repeatable?

I think the key to trading DPs is to have a reason for looking for a high/low in the area in question. TTT had projected a high of 904 today so I was carefully watching for DPs in this area. In my case I used them to exit long positions that I had entered using another system.

[Deucalion]

It's an EOD chart on the RT board, but looks very promising...

[Steve Griffiths]

Hi Everybody

3min ES TS3 long just got to the first target..........

Steve

[Acuity]

Confused by the post; first half would have been taken out at 3:1 on 12:24 bar ( DP off B was 1.9 RR, just under 2, but close enough that some would use it for first half profit target), second half stopped out at BE on 12:45 bar. At least that's how I read the trade management guidelines.

[Steve Griffiths]

Hi,

Sorry, I should have said that this was not using the standard trade management guidelines..... As an advanced trader, and the developer, I trend to know when to use my own rules.

Still a very nice profitable trade though ;)

Steve

[Steve Griffiths]

No comments on this +6R trade as it was an "advanced trade"

Steve

PS, take a look at the 15min chart and see how it was signalling the 3min "manual" sell ;)

[mlomker]

3min ES TS3 long just got to the first target..........

Same entry stopped out on YM. I do take YM trades but I always prefer ES if I have multiple alerts...higher volume seems to help wave patterns hold up better.

[mlomker]

At least that's how I read the trade management guidelines.

I've only had MTP for a month but so far it has been most profitable to not take profits early or move the stop. Set your stop, the target, and go get a cup of coffee.

Strangely enough, the probability of making a 5R target has been better than 2R.

[Steve Griffiths]

Same entry stopped out on YM. I do take YM trades but I always prefer ES if I have multiple alerts...higher volume seems to help wave patterns hold up better.

Exactly, we do suggest taking the higher volume ES over the YM if you have multiple setups at the same time.

Steve

[Steve Griffiths]

I've only had MTP for a month but so far it has been most profitable to not take profits early or move the stop. Set your stop, the target, and go get a cup of coffee.

Strangely enough, the probability of making a 5R target has been better than 2R.

Exactly what I discuss in the "Day Trading Chapter" of the new Part 2 of the Trading Course. It is all too easy to move stops too early and get stopped out too quickly and as such miss the big profits :)

Steve

[Russell Stagg]

Hi,

Sorry, I should have said that this was not using the standard trade management guidelines..... As an advanced trader, and the developer, I trend to know when to use my own rules.

Still a very nice profitable trade though ;)

Steve

Intrigued by this one Steve.
What made you stick with it when it came all the way back to the entry point?

[mlomker]

I took two trades. I got out of the first one (prematurely as it turns out) by allowing myself to be taken out by the SAR stop. The second TS3 was quite a barn-stormer...filled and took off. 8R between the two. Sweet!