I’m cheating a little here, copying and posting my latest post on traderAllens forum. However there are no rules here on how to blog and although my mind is racing with ideas I’m stuggling putting them into words at the moment. I did manage to send off for the hard copy of Shonn Campbell’s Trading Inventory last week and it sounds like a very interesting read if the little spoiler Rob Booker read out on yesterdays traderspodcacast is anything to go by. Hope it arrives before Christmas so I can read it over the hols along with Bob Volman’s new book.
Just a quick check in to keep myself accountable.
Life a little hectic at the moment, but I’m keeping up my following the chat although now on the free ninjatrader platform on the 70 tick chart linked to a MB Trading simulation account. I assume at some stage the demo account will end and I’ll have to deposit a few readies into a trade account. With the free ninja, it’s the way to go. I noticed that the 70 tick bars are a little different to those posted by traderAllen, but the overall patterns are similar, possibly due to the demo/sim account level of data used.
I’ve got the T and S off ninja and the level II off MB up next to the chart but all I can see is the speed action of these charts changing with volume and don’t understand much else at the moment.
Yes I’m not participating in the chat, I’m one of the silent chickens 🙂 who just read the chat, as I watch the chart, when I’m available, or print off the charts if I’m not present and follow the chat through, scribbling notes on the charts. Thanks to ddtrader, stevefer, a few others like Austin0001 and fxgrinder, and of course it goes without saying traderAllen,there is a continuous list of questions, answers, hints and tactics. I liked the little comment yesterday about being able to enter any time without using a set up as long as we have buying pressure, ( the set ups are mainly there to give us control, to quantify our trades, otherwise trading would be chaotic). I like the comment today about how to control overtrading by plotting a second 500 tick chart and trading only when the trend direction matches, ( a bit of FXA mixed in with FPAS )
I think I’d miss the chat if it went to a webinar format as its easy to scroll through and see the time trades are entered and exited and the trade management along the way. I also think that if too many joined in the chat we may have too much noise and distraction rather than the mostly solid content we presently have. Keep it up chat people, and thanks to you all.
I also every Sunday, print off Bob Volman’s charts to see his take on the past weeks charts and find interesting the little differences between him and traderAllens approach like what to do and where to enter around the 00 and 50 levels, and how Volman’s exit techniques involve the possible anticipation of the reverse magnet effect of 20 levels to the trade along with the tipping point,or how Volman now uses short trendlines,like slope back flag lines as barrier lines as well as the horizontal. Maybe there will be more of this when I get around to the new book, still in amazon packaging.
Anyway enough of the waffle. I’m still here and clucking even if I have lost my head.
I’m outa here!