Bloodhound
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Famous last words but here's what I think today might bring.....
a) The open suggests an 'Out of balance auction' day - this tends to lead to a 'big' day. In MP terms a 'Type 4 Double Distribution Day'. Early meandering of price lends credence to this view.
b) With this in mind we are either going to see the market 'break' up or down.
c) If it is down then it would be fair to assume that the market will aim to retrace to yesterday's close - i.e. get back into balance or
d) Make a strong move to the upside looking for a new area of price acceptance. It would be fair to take 4335 as this next area where the market might feel comfortable.
e) The open could just reflect consolidation though.
I am going to look for a big trade today so am placing buy / sell orders just outside of the IB.
As I said, famous last words, we'll probably just see movement inside the Initial Balance, and I will have spent all day waiting for a trade that never comes!!!
KJ
a) The open suggests an 'Out of balance auction' day - this tends to lead to a 'big' day. In MP terms a 'Type 4 Double Distribution Day'. Early meandering of price lends credence to this view.
b) With this in mind we are either going to see the market 'break' up or down.
c) If it is down then it would be fair to assume that the market will aim to retrace to yesterday's close - i.e. get back into balance or
d) Make a strong move to the upside looking for a new area of price acceptance. It would be fair to take 4335 as this next area where the market might feel comfortable.
e) The open could just reflect consolidation though.
I am going to look for a big trade today so am placing buy / sell orders just outside of the IB.
As I said, famous last words, we'll probably just see movement inside the Initial Balance, and I will have spent all day waiting for a trade that never comes!!!
KJ
minime69
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fast trader7
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Hello KJ,
Same here, I am looking for a big trade as well.I donot know where is it coming from!
I did not meet my weekly target, My only worry is i may end up taking unnecessary risks just to meet
my target.It is hard to keep quite on a friday!!
Same here, I am looking for a big trade as well.I donot know where is it coming from!
I did not meet my weekly target, My only worry is i may end up taking unnecessary risks just to meet
my target.It is hard to keep quite on a friday!!
Bloodhound
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Something to think about is that the Dax and the FTSE are out of kilter IMO. Dax opended within yesterday's range whereas FTSE opened a long way above. Possibly this means that the FTSE will start to move down??? Or the Dax up??? Or maybe neither??!!??
KJ
minime69
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i've said it once already, it's friday 13th no other reason to stay out of the markets than that!
wallstreet1928
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morning guys..................been lazy this morning!!
had a long position from last night and closed in the morning.........
well done Kitejedi you are trading well this morning?
just watching the cricket match ................Brendon mccullum is out!!
wallstreet1928
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i've said it once already, it's friday 13th no other reason to stay out of the markets than that!
I love your picture my friend, always give me a giggle
Bloodhound
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Good morning WS, glad to see you are focused on the markets today ;-)
Only one trade so far this morning but am looking for a reasonably big move....
I've also signed up for Sir William's course at the end of the month which I'm very excited about
Bloodhound
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nice post
Thank you. Am a bit worried that I'm setting myself to look a bit stupid when the market stays rangebound though!!!!
minime69
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I've also signed up for Sir William's course at the end of the month which I'm very excited about
what is this course?
Bloodhound
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It's a one day course run by the author of Trading for Wealth aka Sir William.... Focuses on MP, psychology and his trading system. As you may have gathered I'm a big fan of his style of trading (and MP in general) and at the moment I'm looking to get more focus and refine my strategy.. Might be worth dropping him a line for more info. I think his email is [email protected]
Anyone else here attending?
wallstreet1928
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THE COMPLETE TRADING COURSE - ANALYSIS - METHODS - SYSTEMS
This full-day course has one objective and is designed in three main parts, plus one extra addition.
The objective is to equip traders(1) with the necessary knowledge and understanding to be able to achieve consistent results in trading, given any proven trading system. Literally thousands of people are in possession of good and reliable trading systems, but very few are those who are able to apply them with consistently profitable results. The others fail (also consistently!) to make profits because they are not equipped with the necessary understanding of trading psychology.
The three parts to the course are:
Trading psychology - often overlooked, but by far the most difficult element of the trading structure to conquer effectively, and, as the single most important element of the trading structure, the reason for which 90% of traders lose money. If you have ever taken a trade and within seconds wished you hadn’t, then you'll know why! Learn why those impulses cause you to take those ‘bad’ trades in the first place, and then learn how to avoid this in the future.
Market Profile - a system of looking at the market unlike most conventional systems; it seeks to identify where 'value' lies in the market, and, critically, where the current price lies in relation to value. In doing this, it identifies price extremes, from where trading positions can be established with a high probability of success.
Money Management and Risk Management, essential to any serious trader.
As a free addition to this course I will also be giving away the details of my own trading system. This will not feature in all the courses I run, but will for obvious reasons be limited to only a few. My essential trading rules are also presented in this part.
Included in the course are:
a free copy of my 360-page book Trading for Wealth, (normally priced at £33.95)
complete course documentation pack
follow-up service: three months’ email and telephone support
Due to delays in the publication of my book, this course has had to be rescheduled. It will now take place on 28th February. Because of the consequent change in venue, places are now limited to a maximum of 17 people. This also enables me to give the maximum personal benefit to each of you. The are still some places left, but book now to ensure your place!
Bookings received before the end of January will receive a 10% discount on the price. (However, due to the necessity of reserving the venue in time, bookings should be in by 10th February. After this date, places may still be available but this cannot be guaranteed.)
(1) The course has been carefully designed to suit beginners as well as those who are already trading, but may lack either a profitable trading system or the surrounding knowledge to be able to use it effectively.
feel free to call him and discuss, just tell him Aadil referred you
07599 796 545
This full-day course has one objective and is designed in three main parts, plus one extra addition.
The objective is to equip traders(1) with the necessary knowledge and understanding to be able to achieve consistent results in trading, given any proven trading system. Literally thousands of people are in possession of good and reliable trading systems, but very few are those who are able to apply them with consistently profitable results. The others fail (also consistently!) to make profits because they are not equipped with the necessary understanding of trading psychology.
The three parts to the course are:
Trading psychology - often overlooked, but by far the most difficult element of the trading structure to conquer effectively, and, as the single most important element of the trading structure, the reason for which 90% of traders lose money. If you have ever taken a trade and within seconds wished you hadn’t, then you'll know why! Learn why those impulses cause you to take those ‘bad’ trades in the first place, and then learn how to avoid this in the future.
Market Profile - a system of looking at the market unlike most conventional systems; it seeks to identify where 'value' lies in the market, and, critically, where the current price lies in relation to value. In doing this, it identifies price extremes, from where trading positions can be established with a high probability of success.
Money Management and Risk Management, essential to any serious trader.
As a free addition to this course I will also be giving away the details of my own trading system. This will not feature in all the courses I run, but will for obvious reasons be limited to only a few. My essential trading rules are also presented in this part.
Included in the course are:
a free copy of my 360-page book Trading for Wealth, (normally priced at £33.95)
complete course documentation pack
follow-up service: three months’ email and telephone support
Due to delays in the publication of my book, this course has had to be rescheduled. It will now take place on 28th February. Because of the consequent change in venue, places are now limited to a maximum of 17 people. This also enables me to give the maximum personal benefit to each of you. The are still some places left, but book now to ensure your place!
Bookings received before the end of January will receive a 10% discount on the price. (However, due to the necessity of reserving the venue in time, bookings should be in by 10th February. After this date, places may still be available but this cannot be guaranteed.)
(1) The course has been carefully designed to suit beginners as well as those who are already trading, but may lack either a profitable trading system or the surrounding knowledge to be able to use it effectively.
feel free to call him and discuss, just tell him Aadil referred you
07599 796 545
minime69
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minime69
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Hi
I just googled it found the site but it is password protected
steve
ye, thats what i found as well, has he not got a web site just for info?
wallstreet1928
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unfortunately he has had it password protected in the last week or so, if you email him I'm sure he will issue you with a password and username and allow you in
I will email him also to let him know you are interested
I will email him also to let him know you are interested
wallstreet1928
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it is free by the way, no subscription fee
he is making alterations and will eventually take of the password soon
he is making alterations and will eventually take of the password soon
minime69
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tennisball
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hmmm yes possibly - toying with the idea. Just reading the book at the moment, so I'll make a decision after I make some progress with it.
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