Best Thread Potential setups

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mechanicaldaytrader said:
Student is still paper trading; has netted 242 Mini Dow points taking the long reversal after the open and trading 2 contracts; he got the whole up move, about 5 ticks from the top and 5 ticks from the ideal long entry...
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Yesterday he did his cheeks to the tune of 784 Mini Dow points...going long at the high and stopping out 5 ticks from the low?
 
trader_dante said:
Yesterday he did his cheeks to the tune of 784 Mini Dow points...going long at the high and stopping out 5 ticks from the low?
Click to expand...

me thinks he netted 334 -- he got the AM reversal Up and most of the PM reversal down - he got out early on some of his contracts in the PM trade - he knows the exits better now and should be grabbing more points and staying in longer on obvious trends. He's taught to grab 30 to 40 points after the initial move on a first contract [when the first OB or OS condition occurs], if the market trends he adds additional contracts at the next legal trade entry in the same direction [indicators will confirm this trade + one time rule], otherwise if it is a trading range he'll get out of the remaining contracts at the lower high (for longs - OB condition ends + optional time rule ) or the higher low (for shorts - OS condition ends + a time rule will likely confirm this but not required) based on time and price rules and indicator settings.

Here's his P & L for yesterday, not sure if I posted this earlier...


The Mechanical Day Trader
 

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Hourly pin on the Bund. First problem area is only 22 pips away though, not giving much R/R.

Tom, I think you have had some success with the Bund. Any suggestions on this one?

Later,

Chris
 

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elitejets said:
1. Pajamas from PajamaGram: Unique Gift Ideas for Women - Pajamas for Birthday Gifts, Get Well Gifts
2. Call and get her a gift certificate for local spa
3. https://www.tous-shop.com
4. Call Tiffany's and ask if they will ship ...
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This is all a bit romantic and making me want to puke a little in my mouth..... what's wrong with being out at the local strippy "in her honour" and giving her a call at the end of the night so you can breath heavily ........ before heading to the nearest ho house.......??
 
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vinicius said:

Listen, dont get me wrong. I dont have nothing agaisnt you, you actually seem smart, making money selling strategies and stuff.. point for you! but the problem is that here there is no fool.. Here is a NICE trade where trades and aspiring trades wants to learn and SHARE ideas..

Please, make a favor for us, or you start to post set-ups as everyone or you go to sell your "get-rich-in-five-days-easy-as-no-one-else" system out of here..

Thanks..
Click to expand...

I gave a methodology for free that works on the Globex every day - you can trade that and take it to the bank -- FREE -- yes I am smart but I also give stuff for free, watching the streaming demos on the website displays all kinds of trading gems if you open eyes, close mouth and have a humble attitude.

I've have listed low risk reversals, a methodology that works every day and it's documented that a second generation trader has got the hang of it. If you have questions about anything I've posted, then a new thread somewhere else should be started, imo.

Happy Low Risk Trading Everyone!!

The Mechanical Day Trader
 
omni said:
This is all a bit romantic and making me want to puke a little in my mouth..... what's wrong with being out at the local strippy "in her honour" and giving her a call at the end of the night to drunkenly sing "i love you baby"........ before heading to the nearest ho house.......??
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so your married then...
 
2Tall said:
Hourly pin on the Bund. First problem area is only 22 pips away though, not giving much R/R.

Tom, I think you have had some success with the Bund. Any suggestions on this one?

Later,

Chris
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Chris,

I noted the pin too. It's off the 50 fib from the last swing high as you said, plus you have the 38 there too from the range highs. You also have a minor s/r pivot on the daily at around 123.40 (30 ticks away from the tip of the pin). It has also "technically" confirmed the daily double top by breaking the swing low in between...so I think it's good a fair chance of working.

I'm a little sceptical however because I am expecting some equity weakness and I also think that until the ECB announce what they are going to do RE quantative easing, it's not going to move outside this large daily range. In addition you have MASSIVE support and a strong ascending TL that price has bounced off. (see chart)

The best play in my opinion would be for it to break down and try and sell it if the support gets taken out. If that goes, then it really could make a big move.

You could take it at small size here and add more if it gets to the low end of the range but as it is, I am not too confident of this pin for the reasons above.
 

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2Tall, I took those Bunds.

Short at 122.86

First problem area at 122.62. I've got minimum size on so I cannot scale out here. So, instead I am going to to try and hold as there is a possible daily pin forming too although obviously still got over 3 hours to go until the close.

If you are short with multiple lots or increments, I would get some out here now as if it's going to bounce, this is where it will happen.
 
gbp/cad

americas little cousins look like theyre on there way to a "who are you kiddin'?"

usd/cad showing major bullish engulfing... if I'm right in thinking the cad should be weaker than the dollar then gbp cad has to rally doesnt it?
 
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trader_dante said:
2Tall, I took those Bunds.

Short at 122.86

First problem area at 122.62. I've got minimum size on so I cannot scale out here. So, instead I am going to to try and hold as there is a possible daily pin forming too although obviously still got over 3 hours to go until the close.

If you are short with multiple lots or increments, I would get some out here now as if it's going to bounce, this is where it will happen.
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Hi Tom, so did I, short at 122.86. Just in with 1 lot, as I was too uncertain about it and I have never traded Bunds before. Might move to break even at end of this hour, based on your previous analysis (much appreciated) especially the ascending TL, which I had not taken into account. Considering I am relatively new to price action (a few months now) I am delighted that my S/R's matched with yours. :clap:

If that daily pin were to form, would you see that as a valid setup to add to your position, or is incrementing based on different TFs a bad idea?

Thanks,

Chris
 
2Tall said:
Hi Tom, so did I, short at 122.86. Just in with 1 lot, as I was too uncertain about it and I have never traded Bunds before. Might move to break even at end of this hour, based on your previous analysis (much appreciated) especially the ascending TL, which I had not taken into account. Considering I am relatively new to price action (a few months now) I am delighted that my S/R's matched with yours. :clap:

If that daily pin were to form, would you see that as a valid setup to add to your position, or is incrementing based on different TFs a bad idea?

Thanks,

Chris
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Hi Chris, If I am in an hourly trade and it turns into a daily e.g pin forms in the same direction - then, yes I would add... but I would probably have different stops on both positions.

I am still in this Bund trade but not moving my stop to breakeven. It's asking to be hit - it doesn't correspond to any kind of resistance.

My stop will remain at 123.13.

122.90 or 122.96 would be an acceptable stop. Understandably that would involve you taking a small loss if it was hit BUT it is technically valid...breakeven is not...if you are going to put a breakeven stop in you might as well have got out at support.

Just my 2 cents.

Good luck

-Tom
 
trader_dante said:
122.90 or 122.96 would be an acceptable stop. Understandably that would involve you taking a small loss if it was hit BUT it is technically valid...breakeven is not...if you are going to put a breakeven stop in you might as well have got out at support.
Click to expand...

Yes that makes sense, thanks very much!!!
 
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