Timeframe Question

DionysusToast said:
I think Dash would class as a 'position trader' by my assessment.

It's called 'day trading' - doesn't have to be 30 second trading...
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Dion,

Is this your assessment, or is it fact? What you've said could open up Dash like a book.
 
Oi you can get alot done in 30 seconds just ask toasts' missus :)

i will revert shortly but a bit tied up now
 
kimo'sabby said:
Dion,

Is this your assessment, or is it fact? What you've said could open up Dash like a book.
Click to expand...

It is a fact - Day Trading does not have to be sub-minute scalps.

I'm not saying people don't scalp. I am saying people can enter positions that last for hours instead of seconds.

Both are of course, valid.
 
DionysusToast said:
It is a fact - Day Trading does not have to be sub-minute scalps.

I'm not saying people don't scalp. I am saying people can enter positions that last for hours instead of seconds.

Both are of course, valid.
Click to expand...


Thankyou, Dion.

I owe u 1, that saves me a lot of recon work.
 
OK so i do about 10 - 15 trades a day, sometimes up to 20. I dont hold overnights. one aspect of my trading is def scalping / order flow trading. Another aspect is what I said earlier on about day hypothesis.

simples
 
DashRiprock said:
OK so i do about 10 - 15 trades a day, sometimes up to 20. I dont hold overnights. one aspect of my trading is def scalping / order flow trading. Another aspect is what I said earlier on about day hypothesis.

simples
Click to expand...


Right. So everything starts or comes from the smallest tf/order/tick, you are reading up rather than down?

You never wait for certain events to unfold?
 
For those that say they only use the very small timeframes, 1min, 5min, 15min, and don't care about higher timeframes, are you really only using those? So on your chart you wouldn't plot daily, weekly floor trader pivots for example. No daily or weekly highs, overnight ranges etc.? No daily or hourly support/resistance?
 
I'm gonna cut to the chase. Everyone reads the markets backwards. The market may move forward from a small point in time, but nobody reads it that way. The reason is because time passes and as time passes it creates a bigger picture.

Some people may fall prey to MIS (Market Illusion Syndrome).
 
wat? wat? wat? I'm doin it backwards?

rite, here is an example of a trade hypothesis.

The two red lines indicate a bracket on the hourly chart, The yellow lines mark out the range we have traded around the bigger braket high.

Now, my hypothesis is written on it. first off, all the traders who shorted ((fading for the bigger range) would have their stops somewhere above the recent highs. as well, if you look at the way it traded up to it, there would be other breakout entry orders at the new highs with stops below the pullback.

So, the hypothesis was that above yesterdays high was probably an area where the market was going to go looking for liquidity. Once the breakout traders were on board and the range traders were stopped out (all buy orders, so now the market is short) the idea was then to take them out by printing below the pullback (so the bigger range is intact but the weak traders are puked out).

anyway as it happens there was not alot done up there so it was a simple auction failure / open-test-drive type trade. Anyway from lookin at the tape and seeing no trading being done I put a short in and got filled where the pink arrow is. I will look for more momentum if/when it goes to the 19s to see if there are any long stops (sell orders) here that can give the trade a bit of second wind. if not Ill probably leave it.



(actually, I don;t have an account with a ninjatrader broker, so I just did this for indicative purposes. And I'm going shopping anyway I just did id to show an example of my hypothesis trading and to gloat about my entry)
 

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rite havent left for the shops yet (had lunch instead) so I showed where hypothesis of stops at teh 19s giving it second wind were wrong. If you look at the two tape pictures it shows stops going off and then two way trade and some accumulation (made screen print but then made another one before could paste into paint but basically it looks like lots of trades going off on the offer but the bid keeps on re-building up) so that was my cue to leave.
 

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new hypothesis look to fade any new lows (shake out all the people that are long from teh red line)
 
rite just for sake of completeness I put graph (15000 volume) of whole day. 1st hypothesis was right, and was right to exit when i did i think, but my second hypothesis (fade new lows) was wrong and I got stung on it twice (you can see where from the green and pink arrows) but t be fair my exits (like when my hypothesis was wrong) turned out to be pretty good i reckon.

Today turned out to be an outside (engulfing) day.
 

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Another thing i needed to ask... lets just say that on the 1 day chart you see a good entry with momentum etc, but its not going to be perfect to enter until another 2 days... how the hell does this work and often be correct? I mean surely someone could come 10 minutes after you see it and buy or sell £1 Billion worth, which would totally mess up any current good looking set up?
 
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