Posted by DigiNomad on 5th of Apr 2024 at 04:32 pm
I replied (because I live for this stuff and I'm a nerd): How do
you know it's low of the day while it's still the day? Couldn't you
just say Entry: price is greater than bband value but < or = to
101% of lower bband value? You wouldn't get an entry on an opening
spike below bband with this, but I don't get the low of day thing.
Reply to my reply: Good question! yesterday, the low of the
day came within 1% of the lower bband. so, the strategy took a
position at the close.
your comment about how you live for this stuff and are a
nerd.
Honestly I think that's probably many or most people at BPT. BPT
is kind of a weird site honestly, it's not a website dumbed down
for the masses, it's really confusing when new folks come with all
this information everywhere and systems and 30 min newsletters,
dozens of trade ideas, and of course all the focus on technical
analysis - I think the majority of people here nerd out on TA, for
the average person who just wants a stock pick or something, the
BPT site is over their head. It sort of limits our subscriber
count because there's only so much of us hard core nerds, the
website isn't dumbed down for the 'masses' where we would have 10
times the subscribers. Definitely not a website for Crammer
worshipers LOL
Posted by DigiNomad on 5th of Apr 2024 at 04:50 pm
Yep. I don't mind. Find your passion and make money from
it...and you'll never work a day in your life. I've been watching a
lot of TraderLion content recently and pretty much all the famous
traders out there put passion high on their list of traits that
determine success in this business. It's not easy and there are no
perfect systems or sure things. A lot of them make
comparisons to training like a pro athlete.
YES - there's a book called the Trading Athlete and it's about
examples of how former pro athletes make great traders; the theory
is that they learned to master controlling their emotions during
play and high stress situations, and are disciplined - and let's be
honest, that's at least 1/2 of what makes a successful trader
(having a plan, controlling your emotion, and being disciplined).
the charts and technical analysis alone won't make you a good
trader
Posted by DigiNomad on 5th of Apr 2024 at 04:58 pm
I'll check that out. Sounds good.
Lots and lots of reps required also. Experience is
huge...unless maybe you're a scalper that has trained on a single
pattern on tick charts (that can work, but it's to boring for me to
maintain day after day). I see things in charts now that I never
would have 10 years ago.
Charts...i run 2 27 sec charts on NQ. one with simple MA lines
and one without. Same with 15 mn. Amaznin what ur eye sees with and
without and i c different things
Posted by DigiNomad on 5th of Apr 2024 at 05:09 pm
27 seconds? Seems kinda random? But amazing what people come up
with for edge. Anyway, I completely know what you mean. This
is my scalping setup (10 sec and 2 min with a 21 EMA) and I have a
more basic chart that I look at often. The bands on the 2m
are session VWAPS. I go back and forth using them, but you can see
price reacting off of them quite nicely at times (almost like magic
today).
Posted by mastermind on 5th of Apr 2024 at 05:41 pm
Man, my short term chart is 10 minutes. I don't have the time or
the desire to try to react in the second range. But I rarely if
ever buy and sell the same day. I am still a working man.
Posted by DigiNomad on 5th of Apr 2024 at 07:11 pm
Yeah, you obviously have to be mostly a full time trader to use
second or tick charts. SMB capital, who I follow a lot,
always says "if you're having issues getting into a groove on
longer time frames, switch to shorter time frames. The most edge
exists when scalping." Makes sense to me. When scalping,
you're typically only aiming to capture a move from 1 level to the
next and there aren't a bunch of fractals beneath your timeframe.
With swing and position trading, you have to be right on so many
more fractals and make it through multiple levels to "win."
That said, from what I gather from Market Wizards, TraderLion
interviews, etc, the vast majority of the best of the best traders
are swing traders. There are some exceptions. I just think scalping
is the "easy button" to either develop confidence or get your
confidence back. Not that it's easy...but it can be
easier.
YEa thats nice Digi...i will load that and c. thanks! Random.
dog birthday was 26th, son 26th wife 28th split in the middle for
27. works using compressions of 28 19 11 5 emas. i look for bends
on the 5 too. pretty amazing how they tgt the 5 bend on reversals.
other patterns of course. use a 9 ema and 21 sma on 15mn and
larger. crosses are tgts sometimes.
Yes Passion - Passion is what built this world and is why we are
where we are today vs living in caves 20000 years ago. Out of the
masses you have the pawns folks who just go through life etc and
the worker bees, and they are necessary for the world to focution.
However it's the folks that have a driving passion that change the
world with inventions or other things. Kind of like Musk said
before, no one changed the world working 40 hrs 9:5
Jobs would famously call people at 3 am, Einstein, I'm sure he
worked many nights all night on this theory of relativity because
he was so passionate and was compelled like an obsession, vs going
to bed at 9 pm, I've stayed up all night working on systems as well
that I'm so into (again I'm not comparing myself to those guys at
all LOL, but I am passionate nonetheless)
Posted by DigiNomad on 5th of Apr 2024 at 05:05 pm
Agree. These days I'm finding that there is more to learn
than I ever imagined when I was doing this part time. With my full
focus on a single thing, I figured it would require less work, not
more. It hasn't panned out that way, but I'm endlessly fascinated
by the next thing I'm figuring out. I think part of it is that I
feel a bit of an inner panic that I'm racing against AI to learn to
use it to get me and my business ahead before everyone else figures
it out and leaves me behind. Thankfully, most people are
lazier than I imagine, so it's likely I'm just being paranoid
...that said, I think it's a healthy fear at least
partially rooted in reality.
NVDA- Long term look... wouldn't mind
Posted by elementsix on 5th of Apr 2024 at 03:47 pm
NVDA- Long term look... wouldn't mind a little more pullback here.
Someone posted this for NVDA
Posted by DigiNomad on 5th of Apr 2024 at 04:03 pm
Someone posted this for NVDA today, but I don't see why it wouldn't work pretty well with any trending stock.
I replied (because I live
Posted by DigiNomad on 5th of Apr 2024 at 04:32 pm
I replied (because I live for this stuff and I'm a nerd): How do you know it's low of the day while it's still the day? Couldn't you just say Entry: price is greater than bband value but < or = to 101% of lower bband value? You wouldn't get an entry on an opening spike below bband with this, but I don't get the low of day thing.
Reply to my reply: Good question! yesterday, the low of the day came within 1% of the lower bband. so, the strategy took a position at the close.
your comment about how you
Posted by matt on 5th of Apr 2024 at 04:39 pm
your comment about how you live for this stuff and are a nerd.
Honestly I think that's probably many or most people at BPT. BPT is kind of a weird site honestly, it's not a website dumbed down for the masses, it's really confusing when new folks come with all this information everywhere and systems and 30 min newsletters, dozens of trade ideas, and of course all the focus on technical analysis - I think the majority of people here nerd out on TA, for the average person who just wants a stock pick or something, the BPT site is over their head. It sort of limits our subscriber count because there's only so much of us hard core nerds, the website isn't dumbed down for the 'masses' where we would have 10 times the subscribers. Definitely not a website for Crammer worshipers LOL
Yep. I don't mind. Find
Posted by DigiNomad on 5th of Apr 2024 at 04:50 pm
Yep. I don't mind. Find your passion and make money from it...and you'll never work a day in your life. I've been watching a lot of TraderLion content recently and pretty much all the famous traders out there put passion high on their list of traits that determine success in this business. It's not easy and there are no perfect systems or sure things. A lot of them make comparisons to training like a pro athlete.
YES - there's a book
Posted by matt on 5th of Apr 2024 at 04:54 pm
YES - there's a book called the Trading Athlete and it's about examples of how former pro athletes make great traders; the theory is that they learned to master controlling their emotions during play and high stress situations, and are disciplined - and let's be honest, that's at least 1/2 of what makes a successful trader (having a plan, controlling your emotion, and being disciplined). the charts and technical analysis alone won't make you a good trader
I'll check that out. Sounds
Posted by DigiNomad on 5th of Apr 2024 at 04:58 pm
I'll check that out. Sounds good.
Lots and lots of reps required also. Experience is huge...unless maybe you're a scalper that has trained on a single pattern on tick charts (that can work, but it's to boring for me to maintain day after day). I see things in charts now that I never would have 10 years ago.
Charts...i run 2 27 sec
Posted by breakout on 5th of Apr 2024 at 05:03 pm
Charts...i run 2 27 sec charts on NQ. one with simple MA lines and one without. Same with 15 mn. Amaznin what ur eye sees with and without and i c different things
27 seconds? Seems kinda random?
Posted by DigiNomad on 5th of Apr 2024 at 05:09 pm
27 seconds? Seems kinda random? But amazing what people come up with for edge. Anyway, I completely know what you mean. This is my scalping setup (10 sec and 2 min with a 21 EMA) and I have a more basic chart that I look at often. The bands on the 2m are session VWAPS. I go back and forth using them, but you can see price reacting off of them quite nicely at times (almost like magic today).
Man, my short term chart
Posted by mastermind on 5th of Apr 2024 at 05:41 pm
Man, my short term chart is 10 minutes. I don't have the time or the desire to try to react in the second range. But I rarely if ever buy and sell the same day. I am still a working man.
Yeah, you obviously have to
Posted by DigiNomad on 5th of Apr 2024 at 07:11 pm
Yeah, you obviously have to be mostly a full time trader to use second or tick charts. SMB capital, who I follow a lot, always says "if you're having issues getting into a groove on longer time frames, switch to shorter time frames. The most edge exists when scalping." Makes sense to me. When scalping, you're typically only aiming to capture a move from 1 level to the next and there aren't a bunch of fractals beneath your timeframe. With swing and position trading, you have to be right on so many more fractals and make it through multiple levels to "win."
That said, from what I gather from Market Wizards, TraderLion interviews, etc, the vast majority of the best of the best traders are swing traders. There are some exceptions. I just think scalping is the "easy button" to either develop confidence or get your confidence back. Not that it's easy...but it can be easier.
YEa thats nice Digi...i will
Posted by breakout on 5th of Apr 2024 at 05:18 pm
YEa thats nice Digi...i will load that and c. thanks! Random. dog birthday was 26th, son 26th wife 28th split in the middle for 27. works using compressions of 28 19 11 5 emas. i look for bends on the 5 too. pretty amazing how they tgt the 5 bend on reversals. other patterns of course. use a 9 ema and 21 sma on 15mn and larger. crosses are tgts sometimes.
Awesome. Thanks for the detail!
Posted by DigiNomad on 5th of Apr 2024 at 05:20 pm
Awesome. Thanks for the detail! I'm copying this down to study. Dog bday was not on the bingo card for today - didn't see that one coming
Have 4 dogs we just
Posted by breakout on 5th of Apr 2024 at 05:32 pm
Have 4 dogs we just used the oldest..........heheehehe. Have a wonderful weekend Digi!!!
Amen...passion baby!
Posted by breakout on 5th of Apr 2024 at 04:52 pm
Amen...passion baby!
Yes Passion - Passion is
Posted by matt on 5th of Apr 2024 at 04:59 pm
Yes Passion - Passion is what built this world and is why we are where we are today vs living in caves 20000 years ago. Out of the masses you have the pawns folks who just go through life etc and the worker bees, and they are necessary for the world to focution. However it's the folks that have a driving passion that change the world with inventions or other things. Kind of like Musk said before, no one changed the world working 40 hrs 9:5
Jobs would famously call people at 3 am, Einstein, I'm sure he worked many nights all night on this theory of relativity because he was so passionate and was compelled like an obsession, vs going to bed at 9 pm, I've stayed up all night working on systems as well that I'm so into (again I'm not comparing myself to those guys at all LOL, but I am passionate nonetheless)
Agree. These days I'm finding
Posted by DigiNomad on 5th of Apr 2024 at 05:05 pm
Agree. These days I'm finding that there is more to learn than I ever imagined when I was doing this part time. With my full focus on a single thing, I figured it would require less work, not more. It hasn't panned out that way, but I'm endlessly fascinated by the next thing I'm figuring out. I think part of it is that I feel a bit of an inner panic that I'm racing against AI to learn to use it to get me and my business ahead before everyone else figures it out and leaves me behind. Thankfully, most people are lazier than I imagine, so it's likely I'm just being paranoid ...that said, I think it's a healthy fear at least partially rooted in reality.
nice thx for posting that!
Posted by matt on 5th of Apr 2024 at 04:13 pm
nice thx for posting that! So a 5% stop, and 10% profit target?
otherwise from the chart, needs to get over the 9 and 20 MA's, if it were to sell down again the 50 MA would be the logical target
Yeah, 2 R/R. I personally
Posted by DigiNomad on 5th of Apr 2024 at 04:23 pm
Yeah, 2 R/R. I personally would probably adjust that and use a smaller timeframe, but it's a good start.