Come into the Trader's Den

[Placebo]

Dan , I completely agree with what you have said. And i suppose we have had some sort of a discussion on this before as well.

Basically i'm trying to get a better grip and understanding on using volatility to adjust Trailing Stops and was under the impression that you did the same as well hence was looking forward to hear your views. Never Mind now.

Cheers And Happy Trading

 

[Smart_trade]

Dan , I completely agree with what you have said. And i suppose we have had some sort of a discussion on this before as well.

Basically i'm trying to get a better grip and understanding on using volatility to adjust Trailing Stops and was under the impression that you did the same as well hence was looking forward to hear your views. Never Mind now.

Cheers And Happy Trading

It is better to use chart based stoploss points such as pivot lows/highs, high /low of sideways movement,visual high/low etc than pure volatility based arbitrary figure as a stop because chart based points have recent volatility in built in them plus these are important points in supply/demand matrix for the market.

Best wishes , trade well ....

Smart_trade

 

[DanPickUp]

It is better to use chart based stoploss points such as pivot lows/highs, high /low of sideways movement,visual high/low etc than pure volatility based arbitrary figure as a stop because chart based points have recent volatility in built in them plus these are important points in supply/demand matrix for the market.

Best wishes , trade well ....

Smart_trade

Hi Smart trade

Pivot points : John F.Carter uses that approach in his book about swing trading for futures. It is on my working table and I think it is very useful for future day traders like you are one.

I am an option trader which likes to mix strategies. Don Fishback uses the standard deviation approach for options and this is useful for option traders.

Two different derivatives : Future and options.

In my opinion, each one of them has his own way it is best traded.
Combining them is what I like. But that is me.

Like I was writing in my last post : "You can work with indicators, you can work with mathematics, you can work with your guts or how ever you feel comfortable ".

Did you ever read the book : Trading Optures And Futions ( Joe Ross )
The book is called like that, it is no mistakes and it is one of the only little books of his kind in the world, which will give a deeper view of what it is to combine those derivatives.

Take care

DanPickUp

 

[oilman5]

just go through www.metaswing.com

 

[AW10]

Few of the things that set professional traders apart from the less experienced players in the market:

Just came across this in my reading. so thought of sharing with you all here.

1) First and foremost, professionals have an understanding of what works in the market. They turn that market knowledge into a plan, and then stick to the plan in an unwavering manner.

2) Pro traders have a game plan and prepare for the market each day. This preparation allows them to make money under many different market conditions

3) Pro traders take what the market gives instead of forcing their will (or their strategy) on the market. They have multiple tools in their toolkit that allow them to participate in different market conditions.

There is lots of material available (One of the Best place is Market Wizard book), on this topic but unfortunate that Pro Traders are still in minority..

Take a step back and think for a minute..
- are u trading to get result like Pro Trader
- how will u rate yourself on above 3 points
- when was the last time u did something new in your trading.

Happy Trading

 

[trader.trends]

The intraday volatility is mind boggling over the past few days. Close to close does not reflect that. We are either half a percent up or down. But during the day the swings are getting wilder. We are either giving up all the gains made or covering up all the losses. This is true in other mkts too. Take a look at Europe today.

IMO such wild intraday swings point to a big downward movement in coming sesions. This is not based on TA or any statistical research. Take it for what it is - just an opinion.

 

[DanPickUp]

The intraday volatility is mind boggling over the past few days. Close to close does not reflect that. We are either half a percent up or down. But during the day the swings are getting wilder. We are either giving up all the gains made or covering up all the losses. This is true in other mkts too. Take a look at Europe today.

IMO such wild intraday swings point to a big downward movement in coming sesions. This is not based on TA or any statistical research. Take it for what it is - just an opinion.

Hi TT

You are right and wrong with your view at the moment.

How does it look over a period of one week or one month ?

Situations like that, are until today, not common situations. Some trading ideas work in such environments and others do not.

If we are experienced traders, we can handle that and adapt our trading style to the given market situation. Some times we use that approach and in other, very significant market circumstances we have to have other tools we have learned to use over the time. Flexibility seems the word today.

Take care DPU

( Maybe I misunderstood some of your queries and I am sorry about my English. Just in case )

 

[DanPickUp]

Hi

As we are in a Den's room, I like to put in that subject.

Just some thing else. It is related to Forex trading, which I, by the way, not trade.
So why post it ? It is the way, the page is made. Roll down and go to the :

School of Pipsology Curriculum.

In my view, it is really nice made and for sure a big help for many members in this forum.
How many time have I seen questions about indicators and so on and it seems to me, that this one is written in easy understandable way. It does not go in the deepest of all the subject which are presented. But who needs to know that. If some one is interested to go deeper, he can do that.

The page gives a given way to work through or just to jump in some details. I hope, the one which are going through the page enjoy it.

http://www.babypips.com/school/

Take care DPU

( Edit : Work at the end of every lesson through the Pip Quiz, which ( Thanks to rajputz for his PDF ) only exist on the main page and not in the PDF. The Pip Quiz makes the whole stuff much more fun to learn, if interested. )

 

[rajputz]

The site provides really a quality material. I read it when i was learning forex in the early days in 2009. That time saved the site material on PDF. sharing the download link here with you all. Hope it helps.

Download Link for complete school of pipsology: - http://www.mediafire.com/?mtklkknykdn

 

[Raghavacc]

I came through a thought .Need your opinion on its validity.

In market we say there must be loser for every winner.

Here what I say.

Say Mr. A Buys a scrip @ 100. The Opposite party to him say "Mr. B " who sells it cannot necessarily be a loser because I say "B" has bought the script at 98 and now sold it at a profit of RS.2

Again Mr. "A" shortsells a script @ 60. The opposite party who bought the scrip now Mr. "B" would have shortsold the scrip @65 and now may be covering it for a profit of Rs. 5.

This one is a debatable theory.Your thoughts are welcome.

Regards
Raghav