Author Topic: Gist O' Elgaza  (Read 4626 times)

Offline Sojourner

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Gist O' Elgaza
« on: March 18, 2014, 04:19:48 AM »
This is cuts from the thread of the elgaza method. 8)

Offline Sojourner

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Re: Gist O' Elgaza
« Reply #1 on: March 18, 2014, 04:21:18 AM »
I have my 6ticks Rjay's renko and 2ticks as well with this indicator on both
when I get a signal on the 6ticks I will only take the same signals on the 2ticks
so if I get a triangle on top of the price showing a reversal, I will only take short when I get a triangle on top of the price on the 2ticks
and use the high of the bar on the 6ticks as my pivot meaning if it breaks it up against me than it's a very good sign to go long instead
basically this is the way I determine my trend

Offline Sojourner

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Re: Gist O' Elgaza
« Reply #2 on: March 18, 2014, 04:21:53 AM »
I'm not a sales man nor do I have anything to gain by that so don't be silly, I made 6.75 point with it yesterday with ES
and 5 point today, now what I meant with %100, I did not mean that every trade will be %100, THERE IS NO SUCH INDICATOR out there that will give you such results since the market is driven by 4 elements: supply, demand, fear and greed, if it was only supply and demand you would have your holy grail indicator out there, but no indicator could measure fear and greed
what I meant is I don't have a LOOSING DAY I have %100 wining days, sure I have loosing trades and I keep them with a small loss
but in general I make money with this indicator
hope that clears it up
and most important point guys, the most important thing in trading is not the indicator but your strategy
even if an indicator will not give you the best results, but with a good strategy you'd make more than lose, maybe not with so many opportunities
but a good strategy is more important than a good indicator.
good luck to you all

Offline Sojourner

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Re: Gist O' Elgaza
« Reply #3 on: March 18, 2014, 04:22:46 AM »
I usually take about a point to 2 point per trade and waiting for the next signal
this way it's safe, but my friends the trick is to have a lot of patience and discipline
it works very well for me cause the signals don't repaint and on the 6ticks chart it's almost always easy to scalp a point to 2 points on a move where
you get a signal
that's all it is, but I do have other things that I pay attention to as well

Offline Sojourner

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Re: Gist O' Elgaza
« Reply #4 on: March 18, 2014, 04:24:12 AM »

On the 6 tick, you had green HH triangle. You're saying that's short signal? And then you had red LH triangle on the 2 tick and it's short. Is there tutorial on which tringles--red or green--are short or long? It's a bit confusing to say a green triangle is a short.
01-08-2014, 12:33 PMelgaza
Green triangle means it's a higher high and there for the trend is up indeed but never the less when you get a signal you will most of the time get a reversal as well and that's what I'm looking for, the reversal does not mean a trend reversal, so I'm looking to scalp the reversal get it?

Offline Sojourner

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Re: Gist O' Elgaza
« Reply #5 on: March 18, 2014, 07:12:44 AM »
let me tell you something elishar, I've watched a lot of webinars and most of them say the very same thing, you got to go with the trend, the only question is how do you define the trend, so there are many ways and indicators out there that will do the job and your jobs is to find those points to enter a trade with the trend, since this gives me top and bottom on the very tip of the chart I have enough room to make a scalp so it works fine, the biggest enemy is us, the hardest thing to work on is the mentality not the signals and indicators that's the easy part

for that I have other charts on the screen that shows me big clusters and points where you'd need a lot of money going in to break a point this is what it looks like, it also shows me where to get out from a trade most of the time

A lot of systems generate good profits when there is trend. Problem is in phases of chop, most lose in this time more than earned before in trending moves. There are probably hundreds of indicators out there for trend, but not one good which shows you chop...
01-08-2014, 02:24 PMelgaza
very true, in a choppy market I try to stay away or scalp few ticks here and there and you can see that with the Navibars
it draws a gold frame around the bar showing you there's a lot of going on on that bar, also at the end of a trend I get that bar showing me before the end that the trend is about to end
01-08-2014, 02:31 PMelgaza
by the way we have been in a choppy market since 11am easter time and as you see there were trades to be made
01-08-2014, 02:33 PMelishar
This is a good combination with looking at clusters of a lot of volume, from what I have seen watching ES there is almost always a reaction of at least a couple of ticks.
01-08-2014, 02:36 PMelgaza
as all the professional out there say and it's very true, that volume precedes price movement, I see this every day

Yep, follow the footprints of the big money.
01-08-2014, 02:41 PMelgaza
ya but still only with the trend cause even they make mistakes as you see on the ladder
here just took another short on ES on 1831, on choppy days like that I scalp for a point each time no more, it's enough and it adds up to a lot wish me luck

01-08-2014, 02:58 PMelishar
What stop size are u usual using in ES?
01-08-2014, 03:01 PMelgaza
when I get a triangle the top or bottom of that bar is my stop plus one tick away from it, this should be a good point for a stop loss
01-08-2014, 03:14 PMelgaza
I've noticed that the Navitrend uses Keltner's channel so it gives me a good prediction as to where the next triangle will show up
and also where I should expect price to go to

You already have that in you NT7, it's WoodiesCCI, I have 2 of them basically one on top of the other the only difference is that the other one I change the CCI from 14 to 52 and chose yellow color to get a bigger look at the trend
good luck there

Hey Mick, you got to understand how the market moves, the old saying is "Volume precedes price" and the only one who could really move the market are the institutions, and when they go into the market they don't buy 10 contracts, they buy by the hundreds or thousands, if I don't see print of hundreds lots coming in than I know the institutions are "sleeping" for now, or they may be in different markets at the moments, as I'm writing this, I;m getting the very first print now of 400 lots that came in, maybe now the ES will start to move
and as you could see we have a choppy market hardly moves

I wouldn't act on that alone but would look for confirmation with the RSI, or any overbought/sold indicator

I was able to get few points on both down and up trend, you just need to believe your system and go with it, you'd make more than you'd lose if you're persistent and discipline

Hi akshata, glad that someone replies on strategy, so ya it could work what you say cause when we get a signal, no matter which one, we know that when it breaks the top of a bar on a top triangle than it's a signal for long and vice versa, but you got to look at the whole picture too not just triangles
for example right now since around 1pm eastern no institution are coming in and that's why the market is choppy, look at the 6ticks no major movements
so scalping a point here and there could work, I would wait for the RSI to reach a top or bottom to go with the trend I guess for now, until we see some big buyers and sellers coming in.

words of wisdom, I have to say I have the OFA window open as well in a structure view no numbers or colors the only thing I watch there is the exhaustion box on top or bottom of bar as fine tuning my entry and exit
and the truth of the matter we don't really need anything else, and what I mean is, it really depends on ones style, if it's scalping you're after, and this is what most of us here should be aiming for, than this is more than enough and you guys need to concentrate on how to utilize what you see in the chart, the simplest way is to take trades on a 2tick chart going the same direction of the 6tick chart, if you can religiously stick to this, you'll do better than many guys out there, even some of those who runs a room, it's the mentality that is your enemy, nothing else
my advice for the beginners, start with a demo account and work on a method, and a method is something you can write on a piece of paper, rules, not just when your guts tells you to, and when you practice enough to stick to it, than you'd be ready to go to live account
that's it, it sounds simple but it's not, we all have different drives and urges to fight with, that is greed and fear to deal with, but with practice your confidence will develop, so don't waist your time on indicator, it's endless, spend it on a method and a strategy
boy I wish I listened to myself a few years back

Very nice Jane, good analysis, but first you need to understand what kind of a trader you are, meaning are you gonna scalp a point or are you gonna go to the next level?, I think most people here would feel much safer scalping a point and get out, waiting for the next signal to go in again, it's a great plus to know the picture and helps tremendously, scalping a point here and there is something that requires less knowledge than the one you poses, and I admire what you have, I wish we all used it. for a swing trader, your approach is a must, but for scalping a point I think that RSI on overbought/sold, volume bars and CCI for trend confirmation could do, the odd are there and if you'll pay attention you'll see that the indicators will give you the signals when we reach those fibs areas, we need to remember that every indicator is a reflection of the current market status, they are all good and all relate to the price, some give general information and some are more fine tuned than the others, what I'm trying to do here is to be as simple as possible to most traders, and try to make them understand how and why I take the trades when I do

Great Nukem, glad to know my input here actually helps someone to become better and that you're taking action with that
too many people out there are looking for the "holy grail", well for me this is the holy grail, and lets for one second define what is the holy grail indicator
if you expect your indicator to be %100 all the time and do your home work for you, you are in the wrong business and you'll flash your account in no time, no matter how much money you have in it, this indicator gives me tops and bottoms almost all the time, there are companies that sales signals like this one generates and make a good living just from that, a holy grail is not some thing that will give you the right direction all the time but rather one that will give you the right reading of the market all the time, this one does, for me at least
now remember I said it before and I'll say it again, there are 4 elements that drive the market, supply, demand, fear and greed
supply and demand could be measure to the tick, fear and greed could not be measured at all, so no indicator could give you %100 accuracy on any given chart
the game here is probability and the odds this indicator gives you are very high as you can see yourself on your own chart
Just open the 6 ticks chart set it for 10 or 20 days and look at the signals you get with this one
I said at the beginning of this thread, if anyone know an indicator that gives better signals I'd like to compare them and if it does I'll switch
so for all you guys who are still looking for other indicators, don't waist your time testing them, just compare them with this one and see if you get a better signal
and for the most important part of all as I mentioned so many time already, STRATEGY this is more important than the indicator
if you have an indicator that generate only %50 accurate signals, and a good strategy to go with, than you'd make %50 winning trade and %50 losing
with a good strategy and money management you'd keep your losing one small and the winning one big, and you'll still do fine in the market
OK enough said I hope you'd agree with me here
if you don't one day you will

So we all have a bunch of indicators and tools to work with
ask yourself the question, how come you don't have the guts to go in the market than (not all of you)
the answer is cause you don't trust yourself, not the tools
and the day you'll trust yourself is the day you'll have a strategy that could be written down on paper like I said before, not gut feelings
and if you follow it, you wont be afraid to trade cause you know that even those losing trade are part of your success
you wont have %100 successful trades, lets say only %80, so the other %20 percent is part of your %100 successful strategy
I said before in this thread, and I don't mean to brag here, I have %100 success, that is not to mean %100 successful trades but %100 successful trading days
cause I don't change my reasons to make a decision and you shouldn't either

Good luck to us all

Hi Rajafx1, my ladder chart is set to filter only 200 lots, so I only see the institutions in play here, I don't want or need all the noise in the chart, I can't really work with all the numbers that show, so you see that on 35.5 and 35.75 more than 600 contracts were bought and a bar after 444 were bought at 35.5 and then the market still went down, so think if 1700 contracts couldn't push the market up and 1700 from institution would you bet on it to go up?
they are the one to move the market and they couldn't so what are the odd for it to go up?
and guys you need to realize those institutions DO NOT HAVE STOP LOSS, it's too much money to have a stop loss, they need to work their way out of that trade if they loose, and that's the reason why most institutions are scalping only for ticks, and I can prove it as well
when the price went down to 35.25 I decided to short , it was a trade with all the odds on my side, now remember it could go against me just as well, BUT THE ODDS were for the price to go down
as for the point of figure chart I set it as follow:
Base period type=tick
Box size=1
direct IQFeed=2 (1 means it will read the data from IQ Feed only)
price close

also at the bottom set the plot execution=Do Not Plot
other wise it will make a mess with all the prints of your trading all over the place, I don't like it unless you like it it's your choice
01-13-2014, 03:10 PMelgaza
guys don't be surprised if we see 1807 today this is the point of rejection on the daily market profile big time on that level
01-13-2014, 03:14 PMelgaza
if by 3:30 EST we don't hit this level I think we either go into consolidation or go up from there
cause at 3:30 the Bonds are closing and this is why 3:30 EST time is very crucial in trading
most days you will see a big turn around or momentum at 3:30, that's because the Bonds are closing at this time and a lot of the institution are
coming in back to ES

the key word is BE PERSISTENCE, if you always do the same thing, you will always get the same results
cheers ;)

ibandrew88, auto trading systems are something you want to be very careful with, and have a lot of money to go with, the draw down auto system have are bigger than manual trading if you're discipline and that's because there are other things you need to measure in the market that are not programed in auto trading systems
it's better to learn how to trade and treat it as a business than hope for some robot do the job for you, not every business out there have machines that do the jobs, there are people behind it, being a day trader is no difference, it's a job not a casino, and if you'd put enough time to study it you will be rewarded big time
as this is the best job in the world

Hi forexmaniac84, the 6E is not recommended for beginners, for few reasons, the volume there is very low and therefore you will see it moving very very fast, sometimes jumping 5ticks in a split of a second, do you think you're ready for that?, you need to have a bigger account trading something like that being able to absorb those moves against you, so I'd recommend you to stick to something like the ES where moves are much more predictable and less risky, if the moves there pulls you to make quick profits, than you need to change your outlook on the market, it's better to take safe one and less profitable then risky one with more money in the pocket
at the end of the day it adds up, and as I wrote before better trade something safer with more contracts than the other way around
and by your question I tend to understand that you're not a professional trader, I advise you to read this thread almost from the beginning and see if you could do what's done here on the ES, if you can't don't fool yourself for something thats bigger than you
I don't trade the 6E or the CL for those reason and I can tell you I make a very good living trading
concentrate on the strategy make it work for you and stick to markets where the institutions are there, and try to take a ride on their back
I'm just trying to be the fish on the sharks back nothing more

I'm just a small trader who likes small trades with big odds
now I used to love the Fibonacci signals long time ago, until I was introduced to the ladder chart, I'd much rather look for pivots as clusters than some given numbers plotted on exact same numbers on a given distance, it's not very accurate system, sure sometimes it'll fall on the dot, but so does any moving average out there
when you look on a ladder chart and you see clusters where the institutions took place you'll get your pivots down to the tick exactly with %100 certainty
I don't know how many years you've been trading this system but I have been since 2000 and I went through more than a thousand indicators out there for various platforms tested them all and tested them again with different settings, I never really felt the confidence to trade the Fibonacci lines since it only told me where it might stop IF it goes that direction, and with my experience not only it doesn't always stop there but many times it just crosses it like the wind on any level, which made my trading decisions to be full of doubts, if a system doesn't give me the confidence that I need, and let me tell you something, by nature I am completely not the GAMBLER guy out there, I hate to gamble and I'd like to be so certain with what I do, I hate those gut feelings when you trade, that fear and sweat that comes along with it, it's so not me, now when the price gets to one of those Fibonacci levels you need to be able to know weather it's gonna reverse from there or continue it's way down, and by those lines alone, YOU JUST CAN'T TELL, well at least I can't, we all know that the market is moved by the big guys, I want to see them coming in play on ANY LEVEL on the chart, I don't want to guess where it's gonna go to, I just want to take a ride on their back, this way I use less tissues to wipe my sweat of my face, I advice you to open a ladder chart filtered, so you can see the institutions in place and you'll be surprised as to how it's so accurate more than the Fibonacci or any other line indicator out there
Jane still thank you for your posts, we all learn from each other here, and every bit of information would help to us all, I think this is the point of this site, or at least I hope so

I really thought the market would continue down but this is why I hate analyzing the market, and THINK where it should go, it does affect our decision making process
don't you agree, you hope for one thing and wait for that only to find yourself alone with your thoughts in the garbage
I too am still learning all the time, and making mistakes all the time
the trick is to stick to the rules and go with them, the less you have on your chart guys the better your decision making will be, if you have a lot of indicators, you WONT BE ABLE to make a clear cut decision cause sometimes you'd go because of this indicator and sometimes because of another
you will not have a defined method and therefor you won't have a defined rate of success, if you could set rules for yourself and WRITE IT DOWN ON PAPER I really mean it, than you'd have something to follow and work on your mentality if you don't have that yet, stick to the demo account until you do, cause you'll see just how many time you'd have to reset your account in the demo, saving your ass from the real deal
and don't go for long rides on the market, greed will only give you grief, I know been there done that, lost accounts, so scalp for a point every time and wait for the next setup

how many times did you have this thought going through your mind "as long as I don't lose, I don't care how much I make", I had it for years, and at times didn't care to make a point a day just not to lose, cause if you're greedy you'll lose and the worst thing even more than losing is being out of the game not being able to trade cause you just flashed your account, so don't think about the money think in terms of points and just to make good trades, the $$$ will come it adds up and you'll be rewarded, but for goodness sake if you have an indicator on the screen that you don't make a decision with TAKE IT OFF the screen

Hi yamantake there is a lot in what you say, it's all true, BUT you can't drive a car the first day, first you need to learn the signs, then you need to take driving classes
and when you are experienced enough you can drive on your own, you'd still have accidents here and there but eventually with a lot of practice you could even be in a race car, all that takes time and experience, if a trader doesn't start with a demo account and mastering the firsts steps, then why go to a live one and burn money you know for sue they'd lose? you can't go live if in the demo you can't cut it out
I'm not disagreeing with you. But clearly your analogy is irrelevant; millions of people learn to drive each year and never get in accidents, but only a fraction of those trying trading succeed--their cash accounts are constantly getting into accidents. Driving a car becomes a reflex, Trading rarely does.

Yes, the demo is important, but it's not the key to success. Let's not lose sight of the fact most traders fail. The odds are heavily stacked against the aspiring trader.

yamantaka my friend, unless you are very rich, which most of us are not and have enough money to go through the learning curve than you really don't have a choice weather you like it or not, and aside from this point I don't know how long you're trading live account already but I'll tell you something about myself, trading live account with no experience is DANGEROUS not only for losing your account but most of all shaking your ability to make confident decision, I know very well what it is to go in a trade with all the fear of losing and seeing the account getting smaller and smaller, it affects your mental state and the ability to trade properly NO MATTER who you are, so mastering a demo account and then going to a live one is A MUST the way I see it, when you learn how to swim you don't jump head first to the deep water, you may do all the right moves with your hands and legs but instead of being a swimmer you'd become a submarine and drown, you don't let a pilot fly a plane before he has tons of hours on demo flight, yes you need to master the emotions which are different in a live account and the mentality which is also different but you can't master them very well when you have so many obstacles to overcome first, I'm telling you from a rough experience and as I said the worst thing in being a day trader is to be out of the game, you go live with no experience and lose your account, how long will it take you to collect money again to try to trade again?, most people don't have so many chances to flash accounts again and again
to finish this off, YOU MUST USE a demo account first and work on a strategy, once you've master the strategy, and only then, can you go and master the hardest thing, emotion and mentality, but you'd become successful only when you have the RIGHT TOOLS in you hand, and the right tools are your screen and A DAMN GOOD STRATEGY and I've repeatedly stressed all the time on this thread, if you want to jump head first, you'd better wear a helmet cause you're going against the whole world out there and you need to excel and become better then %90 of the traders out there, how can you do it not coming ready?

I know I cant, good luck and I wish I'd listen to myself a few years back, I'd be in a much better place then I'm right now, but I've learned my mistakes and practice a lot on the demo account, and then went to the live one, boy what a difference, my confidence was way higher than what it was in my first years trading, ya sure I had to work on emotions and you know what, I still do, it doesn't stop there, but I'm a lot better now using the right tools then before

hope I clarified that point enough I'd hate to hear of someone going live only to come and visit this site knowing he can't really practice it live cause he flashed his account
enough said I guess, good luck to you all

if you have the ladder chart you'll see that the range from 40.5 to 44 is the institutions home, when we break this area, out of their comfort zone, WE WILL SEE THOSE BIGGER MOVES so be prepared for a ride soon, I just don't know if we're gonna go south or north, and I don't care for analysis I care for what's happening RIGHT NOW not in an hour from now
OK good luck and be prepared, we could continue this churn till 3:30, than the BONDS are closing and we could be experiencing either new highs or we could break the point of rejection the 40 area down.
but nothing is concrete don't take my word for it, just wait and see how the day unfolds before us and take your trades with the trend

oops sorry admis, totally missed it, now that you mentioned I see it, forgive me
OK so the CCI gives me the trend and change of trend, I get early warning from it sometimes before the signals comes as well, so I pay attention to certain levels that it's at, for example when the turbo line (the white fast one) reaches the 200 or -200, you may want to consider a reversal especially on the 6tks chart, it's VERY RARE to see the lines get to the +-200 and drag themselves there, so you want to be on the right side when it does, the RSI I look for extreme overbought and oversold areas as I just mentioned above, when it gets to those area, I drool, now on the 60m chart the affect is longer of course cause each bar in 60m obviously but I get very cautious going against it, like right now what we are experiencing in the market these minutes, the 60m chart is so oversold that I am afraid to take trades up and I told you already I'm not a gambler or risk taker, I don't mind to wait for those trades that are safer to trade, when I see them I go big time with 10 contracts as you so already, and it adds up alot, so patience does reward you
hope that answers your question
good luck to you

you are right on the spot, being overbought and oversold with RSI/CCI does not mea it really is, sometimes it means it's starting a trend, if you're in the market long enough, you've seen it many many times, so we do need more confirmation from other sources, that's why I don't always stick to lagging indicators like RSI/CCI/Fibonacci and the rest, I try to read the market by order flow, which no indicator could emulate since it shows you price action within the bar itself not after it's plotted, the rest is just trend and point of reversal for me

now I always look for the institutions to come in play, and if you have the ladder chart as I do, NOT THE OFA, I wish I could filter the OFA to show only the big guys, but we can't so far and therefor I use it for exhaustion signals only, my ladder shows me the institutions ONLY on the chart and that's what I want to see, the rest is really not important for me and even may confuse me more, look at the chart and you'll see how they are fighting amongst themselves there, I don't want to take place in this fight, I just want to take a ride and surf those waves when they come, it's safer and more rewarding

01-15-2014, 03:51 PMtryitagainmf
Originally Posted by shickman  View Post
elgaza says

my ladder shows me the institutions ONLY on the chart and that's what I want to see, the rest is really not important for me and even may confuse me more, look at the chart and you'll see how they are fighting amongst themselves there, I don't want to take place in this fight, I just want to take a ride and surf those waves when they come, it's safer and more rewarding

you see what I mean, analyzing could get you in trouble if you can't read market context, your decisions should be based on the chart not on futures thoughts, cause you're not an investor, you're a scalper, or should be
you know guys the banks themselves are scalping and I read once that the institutions are trying to make ONLY ONE TICK A DAY, cause they don't use stop loss as I explained before, they are using too much money to be bought just like that, so they don't go for big bites in the market, the commitment of traders report that comes every Fridays and gives a report for the last Tuesday and back will show you the the REAL COT shows that the institutions are scalping and don't go to sleep with their positions open, the market has changed since the year 2000 what used to be an average trade of 4 years turned into 4 months than 4 weeks, 4 hours now it stands something like some minutes or so.

look at the last bar IT'S CRAZY you don't see such a fight on other bars like this one, do you know how much money is being spent here?
do you want to be involved?, not me not right in the middle of it I don't, we're are too small to go against it and ANY TRADER IN THE WORLD RIGHT NOW going in this level IS A GAMBLER, from a professional point of view the odds are not with you here to any side, get it? this cannot be seen in ANY INDICATOR OR EVEN OFA cause in the OFA you get lots of clusters in all the bars and even if you managed to figure out where they came in it's very hard to do that, in this chart, just with a glimpse of the eye you know EXACTLY TO THE TICK where they are holding and your decisions should be much much more calculated than just to gamble or go with an overbought or oversold indicator just like admis said before, "(what should know a novice traders)." it's something you acquire from experience or other learned traders

guys, I heard some say they don't like the RSI/CCI or what ever I got on the screen, I use those for market context not for entry/exit
most of you are looking in every indicator you have on your screen for entry/exit signal, don't you? if you have 5 indi that gives you just that YOUR IN TROUBLE

Hi, and thanks exp48967, one day you'll do well, only those who want's to learn and ask questions will do well, the rest will still look for indicators on this site and alike

so those number on top or the bottom of the bar are called COT but it's not the real COT that is advertised by the exchange on every Fri, it's just a calculation of a delta on a reversal, meaning if it got to the top of a bar and started to go down from there it will calculate the delta on that little retracement, but they call it COT, by the way COT means "Commitment Of Traders" which means how many trader in that bars really are holding still on their positions, so you see why it could never be the real COT cause if someone buys now and sell it on the same bar, you'd still add him to the buyers and sellers column, but it's better than nothing
the yellow frame around the cell is "Point of control" meaning that tick had the most trading volume in the whole entire bar these are the cluster and pivots you want to look for, so if you want to go up and the price is right under a yellow cell, you don't want to go long cause it takes a lot of money to break the point of control, you want to go in when someone else broke through

I hope this was clear enough.
01-16-2014, 04:55 PMelgaza26
OH ya, and those volume bars, it's just volume bars but the colored bars are the significant bars and you want to pay attention to them, most of all you want to pay attention to big huge bars cause as I said so many times here before if you follow this thread, VOLUME PRECEDES PRICE. look at my trade above and I point to the volume bar where it got to 18,000 something should drive the price north or south, I look at the ladder and the OFA on these bars to see where the pressure is pointing to, you'll get great signals to go up and down before even the N@vi Tr3nd appears, most of all in the 6tks, cause that the easiest one to figure out which direction it pushes to, you just look at the 2tks and you'll know where it's want's to go

on that alone you could do tons of money.

I know at least few of us. Something we have given as well here...;) for free...
01-17-2014, 06:07 AMelgaza26
hey admis this tip is mostly for you cause you were the first one to ask about it
a lot of people make the big mistake as I explained before if you read my posts, every indicator they put on the chart, they want it to give them an entry and exit signal, THIS IS ONE BIG MISTAKE being made by most amateurs and beginners, and that's why most people are STILL IN SEARCH FOR INDICATORS that will do the job for them, I believe that the chart I gave here is ALL YOU NEED TO TRADE ANY market out there, and if you add to it or take off, you might have too much info on your screen that will shaken you ability to make a clear cut decision as to take the trade or not, in order to make a trading decisions you can't look at gazillions indicators and MAKE THE SAME DECISIONS all the time, it's impossible, at least not for me, I can't have such a brain that make so many analytically decisions the same all the time

now why am I saying all this is because admis once asked why do I have CCI or RSI on the screen, and how do I utilize it in my trading, I have on my screen 60m, 15m, and the Daily charts as well as the 6tks and 2tks RJ's RenkoHybrid, as well I have the ladder and the OFA structure of 6,4 with exhaustion signals only, that's all I have AND I DONT WANT ANYTHING ELSE, for me this is more than enough, admis look what happened at 2:30 this morning on the 15m charts, the CCI reached the -200, and I made a post earlier last night saying I wish I could have an alarm to alarm me when I get to those levels on certain charts, I would wake up like a tiger, to take that trade up, and look what happened there it went up from 36.5 to 42.75, we got the triangle too, but the CCI gave an early warnings even before we got the triangle plotted, I remember admis you mentioned you don't use them cause you don't trust them, well while you don't trust them I made a darn good living from them, but the only difference between me and many others I don't look for entry signals with those, I just read market context with it and getting ready to fire up when everything else lines up

so guys I really don't know how else to stress it here, but just expand your 6tks chart to the whole screen with the chart setup I have and tell me if you ever seen a screen with better signals than that, and if you can't trade a screen like that, YOU WONT BE ABLE TO TRADE ANY KIND OF SIGNALS being generated by ANY INDICATOR OUT THERE, you get tops and bottoms signals, and early warnings by the CCI and RSI, please do yourself a favor and don't add or take off indicators, just learn how to use this chart, it's all you need, it took me few years to realize this, I WAS NO DIFFERENT THAN MOST OF YOU OUT THERE, look for the holly grail and had good indicators that gave me good signals, BUT IT WAS NEVER ENOUGH cause the problem was not the screen but ME I was lacking the knowledge, I wanted an indicator that will give me not only good signals but also one that would save my ass from making mistakes in trading, today I'm a bit smarter than that, and know that with only few indicator as shown here I have EVERY THING a trader needs to make a darn good trading decision and make a good living with

if you really want to be successful in trading you got to treat it like a business, you wouldn't look for someone else to do your job in what ever you guys are doing right now, right? you'd do it yourself and get paid for it, some people would sublease their jobs just because they get enough work, but when it comes to trading everyone is looking for an automated system all of a sudden and signals and indicators that will come out of the screen and yell at them to take the trade, well it's because the stock market wrongfully is associated with dreams and people don't really want to wake up from these dreams and they decide to trade with no knowledge or enough experience only to realize it was all a nightmare

have a great day

a lot of people make the big mistake as I explained before if you read my posts, every indicator they put on the chart, they want it to give them an entry and exit signal, THIS IS ONE BIG MISTAKE being made by most amateurs and beginners, and that's why most people are STILL IN SEARCH FOR INDICATORS that will do the job for them,

...but the CCI gave an early warnings even before we got the triangle plotted, ... I just read market context with it and getting ready to fire up when everything else lines up...
but the only difference between me and many others I don't look for entry signals with those, I just read market context with it and getting ready to fire up when everything else lines up.

so guys ... just learn how to use this chart, it's all you need, it took me few years to realize this, I WAS NO DIFFERENT THAN MOST OF YOU OUT THERE, look for the holly grail and had good indicators that gave me good signals, BUT IT WAS NEVER ENOUGH cause the problem was not the screen but ME I was lacking the knowledge, I wanted an indicator that will give me not only good signals but also one that would save my ass from making mistakes in trading, today I'm a bit smarter than that, and know that with only few indicator as shown here I have EVERY THING a trader needs to make a darn good trading decision and make a good living with

you see admis, this big move was easily predicted by the +200 CCI in the 60m chart, you just know there's gonna be a big move on such time frame and then we see more than 6 points move to the down side, so you can't take it right away and short it, but you go back to basics and the chart and use this info along with your signals to go short, and you'll be very very successful this way.
I wonder how many people out there are taking in all this info cause we got 14k viewers and not too many people ask questions, I hope it's clear enough that you don't need to ask questions
01-17-2014, 09:00 AMadmis
Originally Posted by elgaza26  View Post
you see admis, this big move was easily predicted by the +200 CCI in the 60m chart, you just know there's gonna be a big move on such time frame and then we see more than 6 points move to the down side, so you can't take it right away and short it, but you go back to basics and the chart and use this info along with your signals to go short, and you'll be very very successful this way.
I wonder how many people out there are taking in all this info cause we got 14k viewers and not too many people ask questions, I hope it's clear enough that you don't need to ask questions
Unfortunately I'm not trading today because of other duties but good luck for you!
01-17-2014, 09:05 AMelgaza26
Hey thank you, I see you still have sometimes to watch the market, that's good, I too wont have much time today, Fri are short days for me and I'm hoping to make this trade profitable right now, I'm long from 37 and as I write this I just got stopped out with 1tks profit with 10 contracts, oh well at least I didn't lose, but I'll post it anyway so people see why I took this trade and why I think it still could go up from here
01-17-2014, 09:33 AMelgaza26
OK on this one I took my chances and tried to go up counter trading, and as I mentioned if you're not skilled enough to do that DONT, never the less I do explain why I took this trade

OK guys now you know what I meant all the time when I say the less you have on your screen the better you're decision will be, I don't have too many things and when I do get a signal from what I have I can quickly make a swift decision and get out of a trade quick enough not to lose, if you put too many thing on, YOU WONT BE ABLE TO DO THAT, I know what I'm talking about

is there anybody there that doesn't quite agree with me on that?
01-17-2014, 10:06 AMelgaza26
but seriously for all other traders, I'm used to do this kind of trading, and I did mention it before on this thread, that the trades I lose the most are the counter trades
look at the 6tks chart we got a signal to go short from 4250 at 7:55am EST, if you took all the short opportunities we had here, you'd do way better that I did today, and much safer, as I said there are ENOUGH signals and opportunities in this system to make you many trades a day, you just have to be discipline and not so greedy, You'll do VERY VERY WELL

for those who don't really like the RSI and CCI, someone before, I forgot who, said he wanted to replace them with something else, well if it's signals you're looking for, than you have them on the screen already, don't work with too many signals, but on occasion like this as we got few moments ago, I'd pay money to be told of such market reactions and they don't come so often, but when they come, you won't be disappointed you had it on your screen

if you follow this thread, you'd notice how we mentioned here about the RSI on the 60m and how I took advantage of that at night, how we mentioned early this morning about the +200 CCI on the hourly chart and said how we are going to see some big movement to the down side and look we went down almost 10 points from that moment, a CCI and RSI reading of the market on the bigger time fame ARE YOUR BEST FRIENDS when they come I put my glasses on and watch the market like a hawk, how much money would you pay for someone to come and tell you the market will drop 10 points? those guys will do it for free, lol

it won't happen every time but when it comes take a wine glass and celebrate

take a look at the 15m CCI at 10:00am we got -200 reading there by the turbo line, and from there we're up 5 points need we more signals than what is already there, CAN YOU PROCESS all this data, just the few one we have if you have to look on every chart is enough of brain damage why add more, work with this and take your trades when they come, I STRONGLY BELIEVE THAT ANY SIGNALS GENERATED MORE THAN WHAT WE HAVE HERE WILL BE WAY TOO NOISY AND RISKY to take, these are less noisy and less risky to take, but I said before I'm not the gambler type of a trader, and would much rather take the safe one than those highly risky one, when they come I just add more contracts and the reward I get is like 10 trades of other guys taking other trades
any way that's me every one has his own style he feels more comfortable in, I'm just trying to stay in the game

Hi exp48967 as for your statement "but it looks a bit different from the on elgaza posted." if you read this thread 6/7 times you'd notice that I posted all the indi's and template, and then couple posts after I've posted again the proper templates for the ladder cause I made a mistake on the first one, so if you've downloaded the other templates for the ladder you'd have the exact screen as I do, if it wasn't that clear in the post I'm sorry for that I thought I was as clear as I could be.

and good for you that you've read it few times and taking notes, I believe you're on the right way to become a day trader, this is how I started, and I've learned the rule of thumb "DO EXACTLY WHAT SUCCESSFUL TRADERS DO AND YOU'LL GET THE EXACT SAME RESULTS" That's what I did, I've learned from successful traders and did exactly what they did, now I'm getting the same result and maybe better to some extent, but once you've developed to a point you will develop your own style

what I advice to all the newbie's don't try to do exactly the kind of trades I do, some of them are not for the beginner trader and will take some skill that you'll acquire with time and practice, just concentrate on taking trades with the trend, that's it, don't do any other kind of trading, I KNOW HOW TEMPTING IT IS to take other trades, that was my biggest mistakes those days, I took bigger bites than I could swallow, only to be left at the end of the day swallowing my saliva with big disappointment, if you could take these kind of trades as I mentioned with the trend and stick to it religiously for at least 2 weeks strait and do well with it, I would tell you that you may be ready to go live, cause live account IS DIFFERENT THAN DEMO ACCOUNT, there are other things that you'll have to master as well, but only if you've mastered already the demo account

there's the emotion that you'll see, completely different than when you've traded the demo account, than the fear and greed, now emotions, fear and greed are 3 different things

Emotions: this is confidence, if you've mastered the strategy on the demo you'll have a much better chance to be confident in you live trading and be able to click the mouse when you see a setup

Fear & Greed: well I'll start with greed, if your strategy is to scalp a point, or if the exit point is on a certain calculated tick, don't change your mind thinking MAYBE IT'LL GO A BIT MORE to my direction, you'll be sorry and you'd learn that a safe trade is much more important than making a bit more money to your account, added safe trades will make you a better trader, added trades with greed, WILL END YOUR TRADING CAREER
as to fear, it's a combination of the other two elements of greed and confident, don't be afraid to execute your setup, and if your profit target is farther down or up, don't be afraid to wait for it and say I'd better have that in my pocket then wait for my target, so it's a combination of the two

if you follow those rules and have a simple strategy, not too many indicators up there, it's enough all the different screen in different time frame to follow, you don't need to add other elements to make a decision, I have Daily, 60m, 15m, 6tks & 2tks RJ's Renko, OFA and the ladder, if I had to add one more indicator to all those screen, could you imagine how much time and concentration it would take away from me just to analyze, and I'd never have a clear cut decision, I used to be just like most traders or wannabe traders out there and had all those indi's on the screen, and I always said to myself "AH if I went with this indi I'd make so much" and then I'd say the same thing when a different indicator showed me a good signal and so forth, I was very very confused and COULD NEVER MAKE THE SAME decision again and again, and therefor my results were always changing, I DID NOT HAVE A PERSISTENT METHOD and therefor I DID NOT HAVE PERSISTENT RATE OF SUCCESS, it's that simple, the more simple you keep it the easier you'll make you decision the better the results you'll get, the better chances you'd be a trader tomorrow.

well have a nice weekend or whatever is left of it.

You are very welcome bluepilot, and yes we have to study, but I don't think you'll have to work hard, persistently ya, but not hard, what's hard for me to understand is how other are wasting their time trying to look for something else, only the professionals know and understands signals and can appreciate what we have here, and then use it for their benefit, the rest of them will go away from this thread to other and still look for better signals, I am a professional trader and can tell you with full confidence that I have NEVER seen anything out there that will give me better signals, I did challenge any one out there to please show me any indicator that could give better, more accurate and not as noisy signals that that, as of yet NO ONE has dared to even compare, this with any thing else, and yet I still see other people go and look for something better, this is coming from luck of understanding the market, signals, and the quality of products out there, I'm just lucky to be someone who take advantage of this product and wanted to help others see through this market and have a better chance to become a trader, I do this cause I remember myself in the beginning, wishing someone could be as generous and willing to teach an easy way to succeed in the stock market, someone who is willing to prove to me that being a trader is not being a gambler but rather a profession

so hey if I have helped someone out there to achieve just that or even come a bit closer to be a better trader, than I'm happy, I don't need a pat on the shoulder, I'm being rewarded by my work here and I have my account to give me that pat on the shoulder not someone else

so cheers and good "luck" to us all

As you can see that I've enter the market right at point of rejection and I allowed myself that tick even though usually I give myself 2 ticks before point of rejection but the OFA will show you why I allowed myself at that point, there's a bunch of retesting at this area already and I DID GIVE MY SELF MY USUAL 2 TICKS as you can see on the OFA 1874.75 is the high of the day and I entered 1834.25 2 TICKS BEFORE so it's a perfect point to enter and it did JUST THAT bought me, went up 2 ticks and look at the market, what's it doing now, going south, just PERFECT TRADE, now when I say perfect I mean that it's a calculated trade, not one that I won and made money with it could just as well turn around and get me out with a loss although I'm a point ahead now as I'm writing this, but MY DECISION to enter was PERFECT and you can see the result.

now I have to decide what to do with this trade at this hour
01-20-2014, 02:14 AMelgaza26
yay I didn't have to wait that long I really thought it will be a longer trade than it did, but luckily for me it did get some momentum and went my way pretty fast as you can all see, my target was 1832 which was point of control on the daily MP, and I just knew it will retest it if not even penetrate it, but it's 2am right now and didn't quite have the strength to stay up for that so I raised my profit target to 1tick above the POC and did get out with a profit of 2points with 2 contracts, now i'll fall asleep much better

so again I repeat VOLUME PRECEDES PRICE and when I see a huge volume bar I'm all ready to fire, usually as I was right here

Hi westvleteren good to see you here again, and thank you for your warm words, I don't this people like that don't affect me but I'm afraid they will affect someone out there who may listen and lose out on some great things we have here all together, I try to calculate all my trades and most of them execute as planed, ya you are %100 right, it takes time and as I mention in one of the posts, "the eye needs to be fed and be satisfied enough" by watching the market, one needs to get used to market moves, I agree that green and red signals are not enough to go in the market and I did mention in big letters in one of my posts that the N@viTr3nd signals are pivots not necessarily points of reversal so one needs to respect the signal and look around to see if this level is to be broken to the up side or down, this is our job to identify the trend and a potential reversal, and when we see one WE NEED NOT FEAR, but that comes with practice and the fear goes away cause you know that when you do the same thing all the time you'll get the same results all the time, you just have to make sure that you do THE SAME THING all the time.
now for most traders the hardest thing is to identify the trend, how many times I've heard traders saying "if I only knew what's the trend, I'd be more than fine", the signals we get here could help most traders identify the trend, we showed here that a signal on the 6tks would set the trend and we take trades with the trend, it works like magic, yes I do show here trades that are not all for the novice, but I did say that if a trader want's to play safe he should take ONLY those trades with the trend and when felt comfortable, he can add another contract to make more income, this is the way to go, what I do is something that I've been doing for a long time now and therefor I have the confidence to take those trades cause I know what will happened most of the time, I've been watching the market for years now, and stick to the fact that what repeated it self for 40 years will most likely repeat it self tomorrow as well, I do lose of course as well but I lose trades, I very seldom have a losing day, cause I try to be PERSISTENT with what I do and therefor my results are PERSISTENT as well, this is what I'm trying to pass on here
having said all that, I do say that this chart I present here is all most traders need to make a smart calculated decision to take part of the market, and I think that for most trader it's also one of the easiest system out there, and I'm not an original, most trader out there use a system that goes with the trend, but this one, almost spoon feeds you to it.
I looked at many trading system out there an saw that most system would give you signal a few bars after the tops or bottoms, some of there way far down or up, some of them only on a retracement and many other examples like that, but the principle is the same, to go with the trend, for a trader who is not used to analyze the market and want's "the easy way out" I believe this system can give him that, we just heard from a newbie here who just started to trade that used this system and made $600, although it was in the sim but still, and I don't know with how many contracts, never the less the idea is that the odds are with you here if you want to take those trades, and I'll say it again, JUST OPEN THE 6TKS CHART AND LOOK AT THE SIGNALS if a trader cant make money with these kind of signals than NO INDICATOR IN THE WORLD will help him make money in the market, these signals have one more edge over others, if noticed, a lot of indicator that could give you great signals like this one, and we do have one like this, it's the D3SpotterRSI that gives very good signals like the N@aviTr3nd, but they are more noisy and will give you signals that you'd have to be careful with, this the Na..Tre.. makes me feel way more comfortable than ANY other indicator I tested before and I went already though more than a 1000 of them in different platforms, and I tweeked the settings of each and one of them, and NEVER got smooth tops and bottoms. that's it
I ask again as I did in the beginning of this thread, if ANYONE knows of a better indicator that gives better signals PLEASE tell me, my trading will be even way better than they are right now, but as of yet no one dared to challenge it as of yet, and I doubt it very much any one will ever will, cause I would know about it already.!!!

cheers and safe trading

OK so look at post #528 and #529 read it well and see why I took this trade with 10 contracts this morning, last night I did take the trade and shorted 1840.25 to 1838.25 for 2 points, sorry I don’t have the pictures but it was very late at night and I just put my stop loss and profit target and went to sleep as it was 2am, although I only shorted 2 contracts cause there is a lot of strength in the market to go up, now this morning when I saw the market in the same area my eyes where very wide open, cause last night we had a -200 CCI on the 15m chart and at around 6:15am EST we broke it to the up side, I decided to go big time here so went long 10 contracts, I placed my trade at 1840, which is still holding its status as point of rejection for this cluster on the daily MP, my profit target for now is 1845 even cause 1845.5 is VAH on the daily, so I give myself 2tks spread as usual to be able to get out of the market before retracement, but will see how things unfolds before us
Good luck to us all and wishing you all a great successful trading day with us

lol, no admis it's not greed, trust me, I make enough not to be greedy, what it is, is a calculated trade, AND I DID MAKE ONE BIG MISTAKE and that was missing the +200 CCI we just had on the 15m chart, and now you see why I wanted those alerts so badly, never the less, I do this for so long now and done it so many time, most of the time I'm right, some times I'm wrong, and the other times, I miss out on some info like today, but in the overall I'm more right than wrong and I profit from that, so IT'S NOT GREED BUT A STRATEGY. ;)

ha ha, ya it does kinda come fast, well go to and download the app, it will upload it to your account in a sec, and when you'll be on the File Manager page, you just have to right click on the picture you've uploaded and click Links, you'll be able to copy the link and post it pretty quick, as to your other question, I'd like to think of myself as a professional trader, and as of one I don't only relay on green and red signals, many time as I show here I go into a trade before the signal appears as I've posted on some trades before, cause I've been doing it for a while right now I allow myself to counter trade which is something I don't recommend for beginners, I'm used to see the market but I do too miss on some info as I did not long ago with the +200 CCI on the 15m chart (I'll slap myself later for that), having said that I got old habits already, but I did mentioned on one of my posts, MOST OF MY LOSES ARE BEING MADE ON COUNTER TRADING, if I just do the trend trades I'll have less draw downs, I KNOW IT, never the less this is a business of probabilities and if one will adopt this strategy, the odds will be on his/her side, a colored red green bar means there was less churn on this bar and chances are there will be a momentum, I usually look at the volume bar to see what happens there. as well I look how far the CCI is from the 0 line THIS IS VERY IMPORTANT I have a lot of respect to CCI as I think that out of all the lagging indicators out there this is THE BEST ONE BY FAR, unless some else thinks other wise I'd like to hear very much about this claim.
so good luck to us all

admis this one is for you, as you see usually when I look at the whole picture I make the right decision and one could think I'm too greedy to go for 2 points here, even though we had lots of churn on the 2tks bars, I have a lot of confidence with what I do and I'm very successful with it as you can all see here since I started posting my trades, so the key to my success is again PERSISTENT and I try not to change my style but just to perfect it more, I do get perfect trades quite often as you guys have witnessed already, I don't always get them but they come quite often, I'M NOT SAYING THIS TO SHOW OFF here, I don't need or look for respect but I say that to give you a very important point here for all you beginners and professional traders who still want to refine their trading methods and market outlook, if you follow your rules religiously you'll become a day trader otherwise you'll still be a day worker in some... whatever, lol

westvleteren you see the difference between your ladder and mine, we here have the OFA and the ladder that I'm using which could show us exactly the same prints that you have right now, with all the numbers unfiltered, now to each his own, but for me I'm not a calculator nor am I used to analyze all those number, even if I did it would take me too long to do just that, so my ladder gives me only the institutions and allow me to make FASTER, more confident decisions about where I want to go with that.
01-21-2014, 03:08 PMelgaza26
sorry just fixed the exit picture to the right one
01-21-2014, 03:13 PMelgaza26
PLEASE GUYS/GIRLS I know you see me trading here with 5, 10 contracts and I know how you're doing the calculation as to how much I just made, but PLEASE don't be tempted to go with 10 contracts if you didn't master taking trades with the trend yet, or if you're not constantly taking profit from the market, you'll flash your account in no time, so for those who like what I used to be, DON'T BE like that, trade with 1 lot until you've mastered it, this way you'll have a better chance to be in the market when you've practice enough

OK guys & girls this is A VERY IMPORTANT POINT HERE, I don't know how many of you shorted this at the 35, 36 area, but if you did, than you still don't understand market context, this is why:

look at your daily MP, if you don't have it yet install it or look at posts before, it didn't change, and see why a professional trader would not short this area, you'll see that 36, 35 area is right above a point of rejection, so have you shortened it, you'd take such risk and the market is waiting for such amateurs like that, where exactly did you want it to go on a point of rejection? did you bet it to break right through? so if you did and got stopped out, well now you know why, this would be very confusing since we have a red triangle on 1838.5 and things looks great for shorting the market, in most normal cases it would, but reading and understanding market context will save you a s s from mistakes like that
01-21-2014, 03:53 PMfedya9568
Originally Posted by elgaza26  View Post
did you install the whole package as I provided?
Hi elgaza, thanks for your response. Yes, I did all according to your instructions in your message No 258... In charts tamplets I have 2 and 6 ticks.. but I have no chart type as RJay.Renko...
01-21-2014, 03:55 PMelgaza26
see what is happening on the ladder?, the institutions are getting ready for a new level, we see something we did not see the whole day here, typical for this time of the day, just about before the closing bell for the index.
01-21-2014, 03:55 PMthaomoua
Its the logic. Don't get me wrong, I know how to read the price, SR, fib, etc. I'm just learning about rjay indi, the ticks, the OFA, etc.

Also my charts don't have enough data so I'm not seeing the entire pictures for the two rjay charts. So when you and tradebeauty talks about 30, 34, 35, etc I kind of got lost. But don't sweat. :)

OK, so price has stopped at 1838.75 I think from here we're gonna see the 42 level met possibly the 45 later on this week, as I don't really see signs of weakness on the daily chart yet, the 60m & 15m chart show strength as well

having said all that, remember we are scalpers not investors, unless you're a swinger, it's another story, but if you are like most of us here, just a scalper, you need not take trades according to market analysis, but according to price action. MARKET ANALYSIS HELPS US CONFIRM THE TREND WE SEE ON THE SCREEN NOTHING MORE NOTHING LESS, if you're gonna take trades like that, you better prepare for a large account if you could afford that, there are many traders that trade like that, and it's fine too if this is your comfort zone, and provided you can afford it.

the style we show here is for scalpers and micro swings only, you don't see me go for more than 4 points in average, there will be the days like today if I got in at the 26.5 as I missed (look earlier posts) and I would let it run on a momentum ride like that, but that's not very common, and especially if you're a novice, you should stick to scalping a point off the market constantly, until you grow your cushion and when you're there, you could add more contracts, until you've mastered it and only then you can learn and expand your style, but until than if you want to stay in the market and be one of the %5 or %10 of those who survive this kind of a job, I really urge you to take my words seriously here and learn from those who were there and gone through the learning curve and the beatings, there is only a very small percentage of people out there who are unique and are able to learn from other's mistakes right from the beginning, I was not one of them, are you? I wish I could turn the wheel back in time and do things as I instruct here, well not's not gonna happen, but at least you could make a difference for yourself and give yourself a break and a chance.

The way normally I read the market is by watching what is happening NOW- what happened in the past WILL influence but the farther the history is the less is the influence-
When we see such a strong straight move up we should know that any short will fail unless its from a key extreme level ( like the 38 which was 2.618 ) with a proof for it like a little double - tripple top as we did have.
I thought it will go down to at least 25 or 38 fib but it did not-
We had to take the long the moment we got a signal on the 2 tick without even thinking.
Lets move to the next signal- instead of making a 1.272 it made only 112 which is a weak divergence-( a really good one would be a double top or the best is going up only one tick and then down).
I expected it to make a symmetry but it actually broke the bottom by one tick and went up from there.
Now- this is VERY IMPORTANT- breaking a bottom by one tick does not create a lower low, its a common trick by the big guys- they break the bottom, kill everyone's' stops and then go back- so if this is the case we were suppose to go long again once we had the signal-once we got to the upper keltner and it starts to go down we exit- no sense to take chances at these levels.
Then it happened again-broke the bottom BY ONE TICK- so we should have gone long again without even thinking.
As long as we dont have a lower low lower highs WE DO NOT TAKE A SHORT.
Good night- my orders are still in hope to get filled
Good Night and see you all tomorrow morning.

for some reason it does not show the image so here is the link---
01-22-2014, 01:14 AMelgaza26
Hi Jane I didn't see your post cause I was glued to the screen JUST WAITING FOR THE OPPORTUNITY for me to come and it came big time.
so thank you for the analysis, I have to admit I did not quite understand where those 1tk that were broken were, but I guess will have to wait for tomorrow for you to explain yourself better for me to understand, I'm sure everybody understood but me, I'm a dummie

OK so read the next post I'll share my trade with you here guys and girls.
01-22-2014, 01:33 AMelgaza26
OK traders, I’ve done it once and you saw it in post #376 when I told you I was waiting for that range to be broken when it was ranging in the area of 40 to 44 if you remember, I put an alarm to wake up and I shorted with 10 contracts for 4 points.
If you watched the ladder today near the close of the day I told you in post #646 quote “I don't know how many of you shorted this at the 35, 36 area, but if you did, than you still don't understand market context”

And in post #648 quote “see what is happening on the ladder? the institutions are getting ready for a new level”

Today is not different, read my post #656 I made at 4:36pm as I summarized the market for today, I said quote “OK, so price has stopped at 1838.75 I think from here we're gonna see the 42 level met possibly the 45 later on this week, as I don't really see signs of weakness on the daily chart yet. the 60m & 15m chart show strength as well”

So I couldn’t go to sleep and kept on watching the market, had my dinner right on my desk, listen to music and even watched a movie with one eye, and did everything to burn time, just waiting for that area to be broken, the market is STRONG and I mentioned that few times today, look at your 6tks chart, not a sign of a red bar, just consolidation near the close of the day, but that’s normal. the OFA shows bunch of exhaustion tops and bottom on a very small range, and yet slowly and surly making its way up tick by tick I put my entry at 1838.75 which was 1 tick above the high of the highest bar on the 6tks (the one formed at 14:51 EST one before the last one at 4:00pm EST) and it hit me. I went in with 8 contracts this time, as you can see my exit target was right away from the beginning at 1842.75, 4 points run, for a $1600, that covered a bit the big move I missed today.
The daily MP explains why I chose this exit target

This trade is considered to be a professional trade, I don’t recommend ANY trader to go for long run like that, I know how the market moves and until you get use to it, go for a point and wait for the next setup, I done it for a while now, and in time you will be rewarded both ways, $$$ and knowledge

It turned out to be a PERFECT TRADE as well. as you can see that the market went 2tks above me and retraced right down, some asked me why I don’t reverse on those exit points and just make another “automated” trade if I know it’s going to reverse? the answer to you guys, is ITS NOT A SETUP, I want to see a setup forming on the screen before I take a trade, I also want to see that everything lines up, then and only then I take the trade, it doesn’t pay off to be greedy.

Admis mentioned today that I was greedy, YES it surely looked like that, and he wasn’t wrong by looking at my trade, but I wasn’t greedy, I did it so many times now that usually it works sometimes it doesn’t, so it’s part of my trading style

OK so here are the pictures for you guys to learn from:


Daily MP:
Look at the daily MP I put my profit target 2tks before the lowest leg on that belly, giving myself the usual 2tks spread, I DID NOT GO FOR 4 POINTS CAUSE IT’S A ROUND NUMBER or cause I like to make that much, it just turned out to be 4 points in this case.


Who ever watched this forming saw that it went so fast from 1842.00 to 1842.75 I manage to snap a pic at that level, but when wanted to do it again one tick away, it was too late, it got me out with my profit target

if anyone has question about this trade please post and I will try to do my best to answer to you guys.
and if everything I say is clear than go and practice, JUST PRACTICE, this is the only way to gain experience, it's sill hard for me to understand why people go to other threads for some new indicators when we spoon feed you here with some of the best indicators and strategies, with explanations, the most you'll get are signals like we get here, so STOP WASTING your time, and just practice on the strategy
oh well I can't babysit you anymore do what you want and look for more indie's

OK good night to you all it's 1:30am here, now I can go to sleep like a baby, LOL

but this is a prediction GUYS I DON'T TAKE TRADES UPON PREDICTION, BUT I KEEP AN OPEN EYE about those things to tell me where the market wants to go and therefore establish the trend that may take place before our eyes, surely I can't predict when this will take place, but THERES NO DOUBT IN MY MIND that we're gonna revisit these areas again

you need to understand how the institutions are trading in order to anticipate market moves or better yet big market moves like that
so heads up guys and pay close attentions

having said all that, I'm still gonna take longs of course cause we are scalpers and we take opportunities when the cross our path

good luck.

OK guys/girls, I know how everyone here loves the OFA, and I do too believe me, but honestly, tell me how many of you could see that with the OFA?, a software that costs thousands of dollars, and yet doesn't give me the picture that I'M TRYING TO GET from tape reading, and yet another product just as good, a free version gives you what $.$$$ couldn't give you, so how much would you pay to get that reading I just got???

I'm saying all that cause again I'm telling EVERY ONE who reads this thread and is serious about becoming a professional trader, this package I provided to you HAS EVERY THING YOU NEED , all the tools you need to become a professional trader, the rest is not indicators but education, if you are looking for the shortcut, you won't find it in indicators, you'll find it in threads like this, and other sources of educational material, and if you listen to me and do yourself a favor, and save yourself the time and money, take this package and JUST PRACTICE become an expert in it and you'll be rewarded, the more you wait the more you're getting farther away from becoming an experience trader, PRACTICE, PRACTICE AND PRACTICE SOME MORE, you will become just that, I wasn't born with that, and can tell you that my knowledge came mostly from PRACTICING

Guys do you pay attention to this area, every time we visited it in the past, we where banged back like a sling shot, look how the market feels comfortable now in this area, I did mention it before at the end of the day, a day or two before that the institution are getting ready to find a new level, and I said most likely the 42 area, look on the 2tks chart at market profile, see how this has become the belly of the day, that's how the market behaves, it fills the cavities, I mentioned long time ago that the market moves by 4 elements supply, demand, greed and fear, well never mind greed and fear, these are subjects to themselves but supply and demand, are areas where the institutions NEED to make business in and they are the bellies and cavities, you job is to identify which belly is next or which cavity is next, you do that and your belly would thank you.

thank you Jane
01-22-2014, 03:52 PMelgaza26
look at the ladder right now, as usual the institutions are coming in now getting ready for the next move
01-22-2014, 03:53 PMelgaza26
if we break 40.25 down, we'll know where they want to take it
01-22-2014, 03:55 PMelgaza26
most likely down, 900 lots in the buyers and they cant keep it up, what do you think going to happen?, Niagara Falls
01-22-2014, 03:57 PMelgaza26
you see, they don't have a stop loss and they got to work their trades, you can really see it in the ladder
just pay attention and you'll get the feelings.
01-22-2014, 04:00 PMelgaza26
1500 lots couldn't keep it up and therefore Niagara Falls, see
01-22-2014, 04:01 PMexp48967
Don't know if A M P demo get the same data but falled down :)
01-22-2014, 04:04 PMelgaza26
if you follow the ladder I provided, you'll see how they had to reenter at 1839 with a 1000 lots and 640 before that and so on, if it won't hold, expect more down side with momentum, it's a fight
01-22-2014, 04:08 PMelgaza26
the institutions are sweating more than us right now, 1838.75 is a major pivot as you can see here and I'm hoping for it to go down some more
01-22-2014, 04:09 PMexp48967
I get issue with the ladder template can't see nothing...i'm searching through your posts to find the right one.

Daily MP:
Look at the daily MP I put my profit target 2tks before the lowest leg on that belly, giving myself the usual 2tks spread, I DID NOT GO FOR 4 POINTS CAUSE IT’S A ROUND NUMBER or cause I like to make that much, it just turned out to be 4 points in this case.

Aha, how nice it is to come back home and find your account $3000 bigger.
And yet another PERFECT TRADE, I had a perfect entry and a perfect exit on this trade, and again, this is considered to be a professional trade, can’t really recommend the average trader to take such risks or even to go to such long targets, but I’m used to this already and doing it every day, now enough with buffing my ego here.
This stuff I’m writing here is for those who needs a boost and for those who are serious in becoming a trader and not just a robot automated machine that works on signals only.
I said when posted my pics on this trade “I placed my profit target at 1830.50, we have been there already but for now it looks the safest and most I could expect from the market to reward me....” and look what happened, it filled my order, went down 1 tick and from there we are at 3 points up already as I write this, what are we learning from all this my friends? We need our indicators to give us signals, we need the charts to give us the trend, and we need market profile to give us the bigger picture, so now count how many indicators gives you signals, you know what let me put it this way, do you even know what to expect from your indicator? Are you looking for signals from every indicator you have on your chart? If you are like I was, you’re in trouble, my screens used to be full with all kind of good indicators we find out there, I used to have the stochastic, macd, rsi, cci, moving averages, Bollinger bands, pivots, lines all over the place, the opening of the day, the close of the day, daily moving average, arrows, does it sounds like I’m painting your chart here?, I’ll tell you one thing, I knew EXACTLY WHAT I SHOULD HAVE DONE after the fact, but NEVER did I know what to do before the indicators printed, does it sound familiar to you, I’m sure it does to most of you there, I never had a true confidence to click the mouse and when I did and it didn’t go my way (of course), I said to myself “darn I should of gone with that indicator, it had a perfect signal” and so forth every time same reaction about a different indicator, the bottom line I was more confused and couldn’t make a thing with my chart, but I can tell you one thing for sure, if you looked at my chart IT WAS AWSOME, it looked so good and perfect, yes but only after the fact
Guys and girls, if you were to learn a profession let’s say a mechanic for example, would you doubt a professional mechanic criticism? NO, you wouldn’t or any other profession for that matter, so why when it comes to trading, is it hard for people to take advice from professional traders? And I’m talking about myself right now, why was it so hard for me to listen back then to the advice of professional traders? Why did I think I can do better than them? And that I’m smarter? I think the answer is because of the simplicity of the market and the fact that you could be either right or wrong, it’s either going up or down, seems easy to bet for the direction and when you watch with your eyes, you know it all, (again I’m talking about myself here), then when you’re in, EVERYTHING is not what you thought when you were just looking, did it happen to you? Well it did to me so many times and for a while. Until the day I swallowed my pride and understood that I don’t understand a thing. So I started listening to professional traders and with my head down, I tried to emulate their steps, and you know what I got the same results as they did. And today I’m getting even better results than some of the professional traders that I’ve learned from. So I’m giving you a gift here, the gift of knowledge on this whole thread and some of you I know will do well with it and some of you will read, enjoy and appreciate and then continue looking for more signals
To sum it up, I’ll tell you one thing I’ve learned about myself, all those indicators I had on the screen only showed how much I didn’t know and that I needed more and more confirmations, and they did come, except I didn’t know what to do with them ALL.

for all those who are in a search of indicators, take a look at the 6tks, as much as I love this N@vi Tr3nd, on a trending days like this NO INDICATOR can give you highs and lows, this is why I stress and tell you so many times signals are not enough if I didn't know market context I'd flash my account 3 times or more today, so learn market profile and tape reading and apply it to the chart, you do that I promise you, you would make a living that only a small percentage of us are making if that's what your after
I'm after the challenge and good feelings I get when I get perfect trades, the reward comes with it.

see the CCI on the 6tks going above the 0 line, that means our trend is reversing to the up side, CCI IS NOT AN ENTRY SIGNAL be careful when you use is as a signal indicator

now I made 1 tick on this one getting out with the stop loss still $125 is money but the point here is that the trade was calculated and executed exactly as I wanted it, I don't regret what I did and wouldn't change a thing even if it turns around on me and go up again, it's more important to me to be persistent with what I do than look at the $## going up on the DOM, for ME this was a perfect trade, but the reward was very small.

guys remember a rule of thumb, A PERFECT TRADE IS NOT WHAT YOUR WIFE DEFINES it's what you strategy defines, and now you see that it's continues to go south as I said, so YES it was a PERFECT TRADE!!!
01-23-2014, 12:21 PMelgaza26
I might add I don't know if you guys can read the market like that and save your a s s as I did in this trade and still manage to squeeze a tick from those buggers, but I'm telling you this cause I'm a professional trader and I've been there where you're standing right now, and wished for someone to teach me this kind of trading as I LOVED TRADING and lived it day and night, but just couldn't make it, you all saw what I did here step by step, not just pics after my trades but I basically walked through the logic and the mentality of the trade as well, so what you need to take from that, if you're smart enough and love trading as I do, is take this package and practice it as I said gazillion time already, there are enough signals and opportunities for you to take cuts from the market in a safe way, THESE ARE THE ONLY TOOLS you'll ever need to make a buck, and with all the screens, you'll just get more confused if you had more indicators, my predictions here don't come from indicators they come from learning and practicing
so you see the being a day trader is not a gamble it's a job, and if you rely only on a bunch of indicators than you'd be like a surgeon making a surgery with the study book
try to take for starters one setup in the market and excel in it, and it doesn't matter what, like %20 or %80 RSI, the triangles, what ever and try to master it, if you do, you wont need any other strategy you'll just have to wait it out and make money, and you'll be one of the %5 that make it in this businss

OK guys I hope that you're benefiting form this, I don't know how many eyes and ears are falling on these words I give you, but please after reading this post click the THANK YOU button, I want to see how many people actually read this and benefiting from this

Well what can I say, when we were in the 40 area and mentioned about the 1800, I had some skeptical people leaving me messages that the market is bullish and we're gonna make new highs, I'm not the type to argue and the one WHO HAS TO BE RIGHT, you know, whatever, everyone is entitled to give his/her opinion, and now the 1800 does not look like a dream so much and so is the 1790 as I said, things are becoming more and more realistic here as the day unfolds, but the Niagara Falls was mentioned enough time here to warn people about it.

anyway I did say before I HATE ANALYZING THE MARKET it's good to know where you go but you should always go back to basics and price action.!!!

you're welcome Jane, but again the triangles as I stated before on this thread few times to traders here ARE NOT SIGNALS TO GO SHORT OR LONG, they are PIVOTS and when those for example top triangles are being violated then it's a signal for LONG, not a bad signal, you just have to know how to work with it, so none of them are bed signals, our job is to identify the trend and those pivots can help us detect POTENTIAL reversals, and not definite reversals

I hope everyone reads this cause this is very important to understand those signals and utilize them to your style in the best way
01-23-2014, 03:14 PMTraderbeauty
you are absolutely right-
i took that short at 1820.25 right after i finished the previous post with 3 ticks stop and i expect a new low from here-i just dont see any divergence on a big scale of any reason for the market to reverse- so going to trail my stops and have fun,
01-23-2014, 03:23 PMfedya9568
Hi elgaza!
Checked your today trades, you are rock! Perfect entries...
I still trying to set up Renko chart but without success.
As per admis advise, I checked NT forum and thread which he sent. I understood that one my NT file must be amended. But I don’t know where exactly should I put that sentence. I understand that this file from NT should be changed a bit – “@BarsTypes.cs” Would you mind to send me your file from your NT?
01-23-2014, 03:24 PMTraderbeauty
Hi Elgaza-
I am trying to use the price ladder but i think its not the same as yours can you please compare and let me know- thanks so much.
01-23-2014, 03:26 PMelgaza26
Now traders you see with your own eyes how one can utilize the information before our eyes, now that you all have EXACTLY what I see, you could also become a trader who can predict those moves and fundamental points in the market, I told you that it won't go lower than 14 and that it's gonna range between 14 and 18 I was not wrong, even though it broke the 18 area, you all saw how the 18 held up and the churn we had there, I lost a point because the market wanted to go higher, but my decision was not a mistake to take a short at that level, I'm not a prophet but with these tools if you learn them and adopt them to your trading style you'll have an edge, and they're not special tools you could find them in almost every platform except for the N@vi indi, I am able to tell sometime where the market is going to go by the tick and where it will reverse by the tick and I'm usually right most of the time, surely not all the time, and the edge you have using these tools is that you'll know it on levels that even the Fibonacci that we all love to use can't give you and you need to understand, the Fibonacci is a great tool and MANY are working with it and therefore the market reacts to those levels cause people are working with it, but if you want super exact levels not relying on a mathematical equation but on price action and real facts then you MUST learn Market Profile, I'll dare any one on this forum and any other forum to come and tell me that they can get better reading from any kind of indicator may it be lines or fibs or what have you, and be more exact and often then Market Profile, I'm a professional trader and therefore I do not take ANY INDICATOR personally, I use them to make a living and I don't care if it's an indicator that I wrote and coded, I don't favorite an indicator over another if it didn't prove it's self to me, and to all users out there if you can show me a way to predict market reversal better than the way I do with Market Profile I want to hear about that and I'll pay you for that a hefty lump sum, no joke, I said before I've tested over a thousands indicators in my trading career and I have what to base my opinion on. tried them all almost, and as of yet the ONLY one that gives me SUPER PRECISE points is Market Profile, any one think otherwise please drop a line I WOULD REALLY LIKE TO KNOW what I don't know yet

no offence to anyone out here, these words should be taken in a professional manner and not in a way to patronize or make a personal remarks
I only say my opinion here from a professional point of view nothing else
I love you all and forgive me if I have hurt anyone unknowingly by my words that was NOT my intention

OK last night at around 10pm I took a trade and shorted the ES but then something happened, something that you should all be aware of, I have endangered myself big time here, and luckily I came out OK from this situation but YOU SHOULD NEVER get yourself into a situation like that
this is what happened:


I saw a great potential for a short at 27 as you can see on the 60m chart, we reached the keltner band and we were right under a major resistance at 28.50, I didn't think we will get there, cause this retracement we just had is normal for a fall like that so shorted 10 cars here


as you can see we've been in a very strong move up and the momentum dots show it, I saw the consolidation bar here (gold frame around it) and shorted it big time, I new my chances here are VERY high and therefore took the short
my profit target was at 1825.25, now you can see that my exits are not always full points, anyhow, I went for 1 point and 3 ticks


wanted to get out on the first cluster showing on the daily MP, not taking chances at this point, I wanted to trail it down, cause I knew that the 60m chart was very significant and had a very good potential to go few points down

and then something happened that I didn't take into consideration, something you should NEVER EVER DO especially at night, if you're a night trader from times to times, I FELL ASLEEP, and that's why I don't have the exit pic here, I DIDN'T PUT A STOP LOSS, and that could have affected my account big time when you go with 10 contracts, this is a lot of money we're talking about here, if it went against me I could have lost my week's work here and maybe even more, who knows, usually when I'm right next to the screen you don't always see me putting a stop loss, cause I know that my trades usually have a very high percentage to go my way, and I'm always ready to bail out and click the "close" button on the DOM, I didn't realize how tired I'm and didn't put a stop loss, this is a very very amateur approach, and I don't usually act like that, but you've seen me here already making some mistakes of other types, this is the kind of mistakes that SHOULD NEVER repeat itself, the ES went my way thank goodness and I made $875, but believe me I'd much rather cancel the trade and go to sleep than taking such huge risk like that, in spite the fact that the odds were totally to my side, there are no guarantees in the market, and we play the game of probability here, I'm not a gambler, and my approach to the market is usually a professional approach, tonight I acted like a novice, as good as the trade came out, THIS IS NOT A PROFESSIONAL TRADE, the pros would put a stop loss
01-24-2014, 08:20 AMelgaza26
Good morning traders, today is a great day, a very special day indeed, we have witnessed an event that doesn’t happen very often, but when it does, I get Goosebumps all over my body, but today was even more special as I’m going to show you in the next snaps.


I have entered at 1810.00 with 20 contracts, yes 20, and I will explain why I did such a move in a minute

Price has gone down to THE point of rejection, look at the chart, or yours if you have it setup like mine, we came to the G spot, lol, the point of rejection of the entire screen, from here, you don’t have to be a prophet, or a professional trader, to know to GRAB the opportunity and get on a free ride with the big guys. They’re not sleeping right now, they’re in business and they KNOW very well that at this point they want to buy as much as possible, and you know what, me too, I want to take part of the party, so I went big time here
Now I know what some of you might think, cause I used to think like that, “wow what a risk to go with 20 lots, I’d never take such a risk” well if you think money wise than ya you might be right, but for me it’s just another setup, and a G-D gifted setup that doesn’t come so often, and I think about points, not money, so it’s no different than ANY trade I’ve done here before, the only difference is, and I said that MANY times if you read this thread, that if you have a setup that you mastered and excelled in just add more contracts, don’t take trades that you didn’t master yet, and this is what I did, I took a trade with double the amount that I put in a good setup, cause this doesn’t come often.

Now look at this chart, what a beauty, the 15m chart crossed the %20 down and then retraced up AND FROM THE BIGGEST POINT OF REJECTION, I ask you my friends, which side would you want to be LONG or SHORT?, I told you few times when ANY chart get’s to %20 or %80 I drool and the bigger time frame the more paddles of drool I make on my desk, this is where I want to see big move to the up side, this is where you want to put your money and be part of it, the only thing that I would love to see here is the CCI going above the 0 line, than I’d take out the champagne and have a drink. I expect the price to go to 17.25 but I’ll be out of it way before that, I also LOVE the fact that I got the RSI divergence on the 60m chart and I hoping for its CCI to go above the 0 line as well

This is a trade I would just trail up I guess cause from such points I don’t really know how far they can push it up there and willing to take my chances to make 2 points only on that, the reward risk is well worth it.
01-24-2014, 08:27 AMelgaza26

and look at the CCI on the 15m chart, it's crossing the 0 line, soon the 60m will as well I hope

01-24-2014, 08:29 AMelgaza26
when it goes to 17.50 I'll raise the stop loss to 17, hopefully that it should get there soon
01-24-2014, 08:32 AMelgaza26
so now I raised my stop loss to 13.75 to save my capital and it's 1tk under the pivot ( the triangle )
01-24-2014, 08:47 AMelgaza26
If I'm lucky enough we may be seeing the 22.25 again come in play, I'd love to see that soon
01-24-2014, 08:49 AMelgaza26
this is the reason why I placed my stop loss at that tick
look at the major support on that level, there are 5 bars there that are topping 13.75, I should really put it down to 13.5 which I'll do right now
01-24-2014, 08:51 AMelgaza26
if we break to 16.25 we might see 18 prints
01-24-2014, 08:53 AMelgaza26
OHHH noooo, dont get me out yettttttt
01-24-2014, 08:54 AMIl Quotidiano Gratis
Admis!!!! Alert on arrows is DONE!!!!!! thank you!!!
01-24-2014, 09:06 AMelgaza26
THAT'S IT for this run, it was fun, but holly s h i t did you see the fight on that tick 13.75 and 14, it was crazy, oh well it was a good trade and I trailed it to the point I thought that safest, even if it goes back up, it’s OK, there will be other opportunities, but the trade was well calculated well executed and very well rewarding, it’s good to start the day with $3500 in your pocket.
OK hope you’ve benefited from this trade and learned the logic behind this trade and the risk reward I took, I said before that I think it will get to 18.25 but we just might see it coming, I’m not going to take a risk and stay in that trade where I don’t see a setup

OK I'm being asked why am I not taking shorts anymore, this is a darn good question but why ask in PM, it's ok to ask on the forum so other will see, and remember there's no such thing as a d um b question , just d u m b answers.

so the answer is very simple I think, I have a trading style that I do very well in, and it's mostly not in such trending days like this, but normal days as we had till the last couple days, I am a scalper, or a micro swinger that take up to 4 point or close to, days like this are something that is hard to get used to if you have a strategy, and harder to adjust as well, you have to change your whole thinking mode and turn to a swinger, IT'S HARD believe me , so IT’S OK NOT TO TRADE, some people trade cause they have to be in the market, this is such a wrong way to think and be, this is where discipline comes to play and you have to control yourself , the problem with most traders that can’t control themselves is very simple, THEY DON’T HAVE A STRATEGY TO FOLLOW, so why should they be out of the market, or why should they be in the market in the first place, so no plan just will, that’s not enough, YOU WILL LOSE, I did .
so I sit on hands until I recognize a really good setup that I feel very comfortable with, and in days like these they have to be significant signals not just RSI or CCI signals on the 2tks chart, this way the odds are better on my side, cause I’m not embarrassed to say that I’m not as good in days that I’m not used to, so better safe than sorry, and I’d much rather feed my kids than my ego, we just have to look at the market with a lot of respect and understand that what you are watching on the screen many others do just as well and when you chose to buy someone else chose to sell, so you need to be smarter than that
and as I’m writing this, my patience is paying off now, went it long at 1799 same point I said I thought the market should have gone down to AND LOOK WHAT HAPPENED RIGHT AFTER THIS TICK, explosion, this is where I pat myself on the shoulder and pride myself to have to patience and discipline to wait for a setup, this is the ride I was waiting for, you’ll notice that I placed my order before it got there and I did go full pedal to the metal, the odds are with me and the risk is small, especially after I saw that 1009 print on the sellers that couldn't hold it down, you can imagine how they’re gonna fight for their position, or someone will find himself without a job, and it’s not me in this case
I’m gonna trail this up cause we've seen the market going crazy today both ways so will see what happens
It went to fast as you saw and took me out for 1 point profit with 20 cars, I’ll wait again cause I think they want to push up again from this area

1st Entry:

got stopped out with 1tick profit only

2nd Entry and still in position:

this time I hope it will hold as 400 lots of buyers just cam in, I got lots of hope here
01-24-2014, 12:19 PMelgaza26
if you have the daily chart open in front of you, expand it a bit so you can see the HUGE cluster in this level 1790 to 1800, and to break this level down you need bill gates to come and spend half what he owns here, lol
01-24-2014, 12:20 PMelgaza26
I have a feeling I'm gonna miss this ride, cause it took me again with one more tick profit here
01-24-2014, 12:27 PMelgaza26
so as patient as I can be I did not get what I wanted, cause that's what I want and not what the market want, this is the lesson that should be taken from this, stick to market rhythm not wishful thinking like mine
01-24-2014, 12:29 PMelgaza26
watch the volume bar on 6tks, something is about to happen
01-24-2014, 12:38 PMelgaza26
So decided to short the market, as NO strength is showing yet, 5 cars only cause this level scares me, and I don’t feel very comfortable with shorting on this level.
Not going for long run here, just a scalp as usual, so let’s see how it unfolds.
But I’m ready to bail out any sec I don’t feel I’m safe here

01-24-2014, 12:41 PMelgaza26
we've been in a chop more then 30m and the volume bar on the 6tks shows we're about to end this chopp so heads up (myself included)
01-24-2014, 12:43 PMelgaza26
I hope the institutes will take laxative right now
01-24-2014, 12:46 PMrhv
gonna get me videos of dalton and L2ST to figure out market profile to help speed up the process as a quick refresher. I do know that it will take me some time though lot of screen time. will read the posts on this thread also.
01-24-2014, 12:48 PMelgaza26
trailing down at 98.25 cause there are sellers at 98 that will protect me
01-24-2014, 12:55 PMelgaza26
OK so as you see went short at 1799 and trailed it down



as soon as I saw exhaustion I put the stop limit at 1798 to make a point cause I didn't think I have a chance against anyone on this level.

surly only 5 cars cause it's dangerous on this area

Hey admis forgive me but I just went back on the pages and just noticed you posts, that's why I did not reply, never the less on a normal day, I've shown that I can make perfect trades down to the tick, and I manage to read the market as the institutions are thinking, of course not all the time, in days like that, my experience is not as refine as normal days, and I'm not ashamed to say that, this is what I do, and I learn everyday, and make mistakes ALL THE TIME like every trader out there, I don't claim to be better than anyone nor do I compare myself to anyone, I'm just a simple guy who has a job as a day trader, and I'm not the best in this area I'm sure, there are many traders out there that I wish I was like them, but i"m not
the little bit that I know I try to give over here to other people that could use this info and if it can give them just a bit of an edge I'll be happy

this is not to say that your remark is insulting or even mocking, but I said all that for other readers that may think that I'm trying to do this for a bit of respect or a complement

take care my friend
01-24-2014, 01:42 PMelgaza26
OK guys and girls market is still in chop I'm gonna stay away from this until I see something that would get my attention

and again to all those who want's a shortcut in the market and someone to do their job for them, just learn the stuff, think of it as a course your taking, it will reward you, and the more time you spend practicing and less looking for indicators the faster you'd make this your day to day job, and it will pay up as you saw, I had 7 trades done today, two of them I lost, 5 winners, made 6 points and lost 5tks, (3 and 2) totaling in $4749.5, but that's because I added contracts in such a day like this, if you had traded like that with one contact you'd make $237 this is not bad to make in a day, the point here is that I played safe, to my style it was safe, and maybe if you master a strategy that works for you, you could have made much more than that in a day like this.
I traded a lot of contracts cause for me 10 cars is not so much, I do that many times, 20 is something that I wait for special days like that, and for opportunities that just makes me shiver but you saw in others days it's 2, 5 sometimes 10
I said and I apply what I say, when you've mastered your strategy, just add more contracts and you'll have the same risk reward ratio with more income, plus your rate of success wont change.

OK I hope someone takes those words seriously here for your own sake, not mine.


01-24-2014, 02:02 PMadmis
Your effort to describe your live trades is something extremely valuable for many members. During the weekend each of us can calmly analyze the course of the session.
Thank you once again for all your advices. I admire you and please continue your work here for the benefit of all of us.
01-24-2014, 02:19 PMelgaza26
I just a simple guy who has an interesting job

so 1890 is here, and no Fibonacci could of told you that on a short run like that, only MP could, so now you saw for yourself that what I do is not an exact work, there's many things that changes through out the session and NO ONE can predict all the time, but what I do is tell you the PROBABILITY and in one of the posts I said that if something repeated itself for 40 years than most likely it will repeat itself tomorrow but "most likely" is not a sure thing and there for every trader will be wrong every now and than, and it's fine, we're not trying to be right all the time just most of the time, and if you are, than you can call yourself a day trader, I'll say many things that wont happen, so?, it's ok but you'll see that most of the time THEY WILL HAPPEN, now saying one thing and doing are two different things that every trader needs to take to consideration, OUR JOB IS TO MAKE MONEY not analysis, and making money is based on PRICE ACTION and the analysis in the back of the head, but it's hard to distinguish and do that at the same time

good luck to all
01-24-2014, 02:23 PMelgaza26
now that we are in the 90 WOW in 2 days, the next level as you can all see on the MP is 80 and 81.75 being point of control, I wouldn't be one bit surprised if we revisit this area as well

having said that we are in point of rejection right now, but is a wide one, not the 2, 3 ticks that we were before
01-24-2014, 02:52 PMelgaza26
the 93 area is a very critical area it is the center or point of rejection
01-24-2014, 02:53 PMelgaza26
01-24-2014, 02:54 PMelgaza26
we have a divergence on the 15m RSI so heads up, I got in already in 1792, but hoping not to be stopped out AGAIN
01-24-2014, 03:06 PMelgaza26
60m RSI under %20
01-24-2014, 03:18 PMelgaza26
ya, you come back to the computer only to find out you made 1 tick, LOL today is a day I make ticks
01-24-2014, 03:33 PMelgaza26
OK I hope this one will be longer at 89 long
just because it's 3:30
01-24-2014, 03:35 PMelgaza26
I really want to trail this up cause now some buyers are coming in but I'm putting a stop loss at 89.25 for now, and I hope this will finish my day
01-24-2014, 03:36 PMelgaza26
those 1172 sellers are scaring me and are a threat to my position
01-24-2014, 03:37 PMexp48967
Originally Posted by exp48967  View Post
Can someone tell me why the ladder don't plot?

What i did wrong?
Elgaza there is something wrong for my setup with latest VolumeLadderMetroEdition.xml.

I used the old one and start plotting, here it is:
01-24-2014, 03:38 PMelgaza26
wow it's close, did you see that?
01-24-2014, 03:39 PMelgaza26
got another tick, ha ha ha
01-24-2014, 03:40 PMelgaza26
what I'm I suppose to do with this exp48967 ?
I can hardly read English
01-24-2014, 03:51 PMelgaza26
probably going for another tick here, LOL from 87
01-24-2014, 03:52 PMelgaza26
Yesss, buyers are coming at last
01-24-2014, 03:53 PMelgaza26
OH not another tick please
01-24-2014, 03:55 PMelgaza26
about time already this time I'm gonna trail it up
01-24-2014, 03:56 PMelgaza26
secured 3tks so far but wish me luck PLEASE
01-24-2014, 03:59 PMelgaza26
3tks this time, ha ha ha
oh boy what a day, so far since the other post I told you how much I made, I've got 5tks $750
not bad but not as good as I could have done
01-24-2014, 03:59 PMexp48967
Originally Posted by elgaza26  View Post
what I'm I suppose to do with this exp48967 ?
Of course no.

Just to say that changing to the old solved for me.
01-24-2014, 04:00 PMelgaza26
gosh look at that market, no telling where it's going, look at the ladder, buyers selers
just cant cut it
01-24-2014, 04:03 PMelgaza26
No matter what I do, I have great entries almost always BUT, I cant seem to stick to the trade
01-24-2014, 04:05 PMelgaza26
OK guys and girls I hope it was as good day for you as it was for me, I guess we could have done better, still came out a winner after all

I think we're just about to see 81.25 soon or not, who knows

have a great weekend and hopefully will see you next week

Gosh look at the ladder wow
01-24-2014, 04:16 PMelgaza26
Hey admis what do you say about that analysis?

1781.25 low of the day, I still got it I guess, down to the tick!!!
But it wont work every time of course, I don't care, as long as I make money with it, I'm good with it
01-24-2014, 04:19 PMelgaza26
and for all others, I'M GONNA WATCH THIS ON SUNDAY AS SOON AS IT OPENS UP, I think we're gonna go up right away, look at the ladder we got way more buyers than sellers, I WANT A PIECE OF THAT
01-25-2014, 05:02 AM10suited
hi elgaza and all other Traders!
why more Buyers?? i saw heavy Bids are being taken and the prize is going down. Bid-Ask% was higher so bigger Red Box at the bottom of the VolumeLadder. If a seller takes a big bid then these numbers showing on the left side of the box or do i missunderstand something?
01-25-2014, 02:42 PMTraderbeauty
Thanks again to everyone-and special thanks to ELGAZA.
Wanted to share with you the big picture analysis for friday- if you followed that and you can definitely pm me and i can give you a forecast that should normally hold - unless the market tricks us and then we have to change- a good example is wednesday which ended by being a chop sideways causing me to change forecast all the time.
now lets walk slowly leg by leg-
i woke up ( california girl lol ) and by the time i got to the chart it was 6 am or 9 am eastern- i saw that we had a perfect continuation from the 38 fib.
If you look back you can see that we have lower lows and lower highs so i expect the pattern to continue unless we have a divergence or a h-h h-l which we did not have.
My rules- and you will not find them anywhere are that if the retracement was only 38 i expect the trend to continue to 1.918 or 2.61 fib extension .
Amazingly the market did exactly that almost to the tick.
Again- point 1 was during the night , point 2 was the 38 fib and i woke up afterwards so it was very clear to me that the 38 is in .
I kept shorting anywhere i could, any resistance and any time i saw even a hint of a down move- keep in mind that by then the market was -20 points so i was biased to the downside- did not even try a long through the entire day.
point 3 is 2.61 fib to the tick.
once we got to 2.61 i stopped shorting- a trend hardly ever goes beyond 2.61 so no sense to knock your head into the wall.
I expected the market to retrace to 25 or 38 fib no more- so once i got a signal i shorted again -point 4- with the same expectation- 1.918 to 2.61
you can see that we got even more , by then i was done , counted the profit and went to the gym lol.
My next post i will do with a 4-1 renko spectrum.
hope you like it
p.s- push the thanks button so i have an idea if people even pay attention lol
01-25-2014, 02:42 PMTraderbeauty
ok- so here is a smaller time frame- this one is 4-1 renko spectrum -

you can easily see that the big fib worked perfectly so you could trade 4 ticks or even 2 using very small stops and just trail them once you got in because once you are in you knew exactly WHERE the target is so no need for scalping.
Each of the arrows is a short signal- as you can see- through the entire day we had lower lows and lower highs meaning-SHORT ONLY AND NO LONGS.
hope it helps
01-25-2014, 10:31 PMelgaza26
Hi everyone, I hope you all have a chance to rest after this crazy Friday, I did
So guys and girls, I got few PM trying to make me feel better and not to take any comment personally, well, first I thank you very much for the nice words from all of you, BUT, let me tell you something here, seriously, you think I don’t know what it sounds like?
I mean here is a quote from my post #966 2:23pm when we were at 1793 12 points away:
Originally Posted by elgaza26  View Post
now that we are in the 90 WOW in 2 days, the next level as you can all see on the MP is 80 and 81.75 being point of control, I wouldn't be one bit surprised if we revisit this area as well…..
and then at post #988 when we were at 1784
Originally Posted by elgaza26  View Post
….I think we're just about to see 81.25 soon or not, who knows…..
And then what happened, at 4:15 the market went to the low of the day at 1781.25 and then closed at 1781.5 one tick above, this level is not a guess, and was predicted 12 points ahead of time, now does it mean it’s going to hold and reveres? Not necessarily, we are in a catastrophic dump of the market, BUT you will see the reaction of the market on this level as we all saw it, now for someone to come and tell you 10 points away that the institutions are gonna stop at a certain TICK, I know EXACTLY what and how it sounds, and for those who don’t understand market profile, it sounds like I’m trying to show off here, or throw things in the air, just to sound professional, I DO understand that and how it’s sounds, when I was learning this stuff, and my teacher used to tell me where the institutions are going to stop, I laughed inside of me, and thought like you, “What is he talking about, who does he think he is, to predict a move of so many points down to the tick?”, but when I saw that he was right most of the time, my chin fell on the floor, I just couldn't believe how such predictions could be so precise down to the tick and predicted well in advanced, this is when I wanted to know exactly what he knew, so I started to study market profile and watched the market and the MP to see it’s behavior, I GOT BETTER in reading the market and my trading went to another level that I didn't experience before, BUT I remember those days when I didn't understand it, I laughed and mocked my teacher for making those assumptions. when I said that the market went down
Originally Posted by elgaza26  View Post
...they got to 1799.25 lower than I thought...., lately things are happening faster that anticipated, but really if you look at the market profile you'll see that ther's no mistake it went to where it should go just 1 tick off, and that's fine, on a dump like this accuracy is not always in place
I did not make a mistake there, I know it sounds crazy and impossible but, trust me it’s not, and as I said on this thread, many times “what happened for 40 years, most likely will happen tomorrow”, this is not to say that everything is carved on stone, but they will poses a very high percentage for those predictions TO GO TO THE TICK!!!
what I don’t understand is something very simple and logical, if you have followed my thread from the beginning and followed all the trades I’ve taken, you’ll notice just how many times I had “A PERFECT TRADE” that I explain. trades that were taken from tick to tick and how they reversed exactly 2tks away from my targets, and I mentioned it many times that I give myself 2tks safety, what I don’t get is if you saw it so many times, than what’s the difference if it’s 4 points away or 50 points away?, if you know how to read market profile and you know where the institutions are going to stop and reverse most of the time, and it’s no different to predict 4 points reversal or 10, or 50 or whatever, so to all readers out there, it’s OK, I understand very well how I sound here, and I know it’s hard to understand how I know this stuff, but you see over and over again and again how it’s happening as I say it will and to the naked eye who is not familiar with MP, it’s a puzzle and to finish this off, I DON’T GET INSULTED trust me, I just smile and remember myself how I couldn't believe it’s possible, and trust me I think EVERYONE here on this thread are just nice people with great intention and each have the will to help each other.
Have a great weekend or whatever is left of it.
01-25-2014, 10:38 PMelgaza26
Hi 10suited this is why I don’t use delta cause it gives me the total of everyone out there and the only thing I’m interested in watching is the institutions, and what they are doing, this is where I try to get the “feelings” as where the market wants to go, even where it doesn't hold I know they will fight for it, and at the close of the day there were more buying than selling’s done by the institutions, that’s all I care and I’ll watch it closely, never the less, I DON’T PUT AN INDICATOR ON MY SCREEN I DON’T USE cause it will affect my process of decision whether I should take a trade or not and using delta alone means I’ll have to ignore the institutions, and if I look at what they’re doing than I have to ignore the delta, you see what I

Offline Sojourner

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Re: Gist O' Elgaza
« Reply #6 on: March 18, 2014, 09:00:24 AM »
Yes minch this is correct, but you saw me here, I don't depend on making an entry on the ladder, it's just another layer of information that makes it clearer to me, as close as possible as to where there's more pressure in the market, and it's better than many indicators we have here to show pressure, I think

admis thank you for those links, just watched the first one and now the second one, they are very good, and especially the 2nd one, if you'll notice I say and repeat so many things here that Tom Alexander is saying there, less indicators, volume precedes price, and so on, people should watch these videos and than maybe they'll listen if not to me than to Alexander a 28 years veteran in the market, any way I believe that the way my screens are setup are better than many other screens with other indicators, I'd like to know if someone thinks other wise and had a better experience using different setups

guys this is not a race or competition that I'm challenging here, I'm not trying to say I have the best setup and everyone else is wrong, but I'm trying to learn from others too, so if you REALLY THINK that you have something better, NICE PLEASE, from you all, share it with us so WE CAN ALL BENEFIT from it here

THIS WAS MY INTENTION FROM POST #1 for all of us to benefit TOGETHER and WORK TOGETHER as I mentioned it before, so someone out there please show me a better setup than this screen I provide and lets talk about it and better ourselves!!!
01-26-2014, 11:08 AMchonpz your fib should open your own thread .....would love see you teach us and apply it on daily markets....
01-26-2014, 11:09 AMminch
01-26-2014, 11:17 AMelgaza26
YES and frankly everything he say's is right on and correct
but don't forget the fact that most traders here and out there, just can't afford to be a swinger or even mini swingers
most traders have a small capital to start with and if they're gonna go and apply his strategy going 1 to 10 or 1 to 12 as he mentioned, than they will be able to trade once or twice with their account and that's it if they were wrong, so until most of us could have a better cushion and take larger risks, YOU HAVE NO CHOICE BUT TO SCALP, it's not what you want but what you're forced to do.
I've mentioned before here that my style fits better to a swinger but the market behavior forces me to be a micro swinger, not by choice but by the risk I will allow myself to take
when a person has adopted a strategy that works for him/her and made successful trades and now he's trading from earned money and not own money, then and only then can he go and expand his style to a different level, but until then I'm afraid that most people will stick to scalping as this is the only way to grow ones small account

chonpz I can't help noticing how much you love the Fibonacci analysis, you've posted before and showed your excitement over these readings
the Fibs level are not bad as many other people use the as we mentioned here before and the market reacts to them some time, but let me clear something about the Fib level and I dare ANY ONE TO deny what I say here, as I’ve learned it very well in the past
the Fib have usually 4 to 5 levels that are static percentage of a spread point A to B, if you religiously follow any Fib levels, you’ll notice that just too many times those levels WILL NOT RESPOND as you’ve expected, the FIBS WILL GIVE YOU SAME RESULTS AS MOVING AVERAGES, no difference ANY moving average will have a certain success results as for the fact that’s an average of a given price range, the Fibs are no different than that, you’ll have many times that price will bounce off those level and MANY times that price will go through them like butter and will put you in a position you do not want to be in, you must treat Fibs level like a moving average and not like levels you’d get from a Market Profile that most of the time those level WILL REACT as oppose to a moving average
Don’t be afraid to write and give an answer to me, but I just wanted to clear this point once and for all, that Fibs level can’t compete Market Profile levels to the accuracy and repetitions they react in the market.
I really hope this info falls on listening ears.
Having said all that, I mentioned before in one of my posts to Jane, that the Fibs level could be used as a tool to open you eye when price gets to those level but to act upon them, just because price has reached that level, is NOT A PROFESSIONAL APPROACH
Anyone thinks otherwise I’d like to be told so!!!

minch one could have a strategy with MA as well like Pery's system on Big Mike that won the best webinar for last year I believe and made a very good strategy as shown and all based on moving averages, and I'm canceling out any system that works, but today if one want's to go to the next level as any professional trader will tell you, than ones must adopt MP to his style for better confirmation, THIS IS WHAT IT'S ALL ABOUT, BETTER CONFIRMATION nothing else, there are hundreds of strategies out there that make money, I've mentioned it as well that works, but some have better results than others, I believe that MP will have the BEST RESULTS compared to any of them to get those levels, the other one is the ladder except the ladder cant give you a clear picture on the long run cause you'd lose focus, the MP will give you that on one screen, so again I'm not canceling any system but in comparison I'll tell you that from MY EXPERIENCE I just can't see any thing out there to give you better results!!!

hey minch THIS IS EXACTLY WHAT I WAS TALKING ABOUT this is what I expect from people to give their opinion as this is not a competition to prove one is better than the other but to exchange information and knowledge here
so THANK YOU minch for that, I wish others will follow your steps.
01-26-2014, 12:07 PMelgaza26
minch Tom Alexander is trading the market for 28 years, any trader that lasts more than 6 months in the market IS NOT A JOKE, but someone that we can learn from, jokers don't lasts!!!

Guys and girls I want to clear a point here that I think is important in this thread and I want everyone here to read this, cause especially if you are a beginner and have hope to be a day trader and just don’t know if you can cut it, or if you have a chance than you should read this to clarify couple points:
My trading style and the way I read the market, gives me leverage over any indicators I've tested before
I've started this thread stating the the N@vi indi, is one of the best indi’s for signal for all those indi’s out there, and I still stand with this opinion until I’ll be proven otherwise with a different indicator shown to me, BUT THAT’S AN INDICATOR, not a trading system, I have a trading style and I use this indi to help me make a better decision in my trading style, indicators CANT REPLACE a strategy, and can’t replace market knowledge, and to prove that, well you all have the signals on your screen, and still some of you are still losing or not having the confidence to take a trade, but when you see the screen after the fact everyone says, “gosh if I’ve only taken it long or short from here, I’d make a killing, it looks so easy with these signals”, trading IS NOT EASY, for any one and I don’t care how good they are, we are here against giants in the market and we have to make better decision than they do, so no matter what you have on your screen and how good of an indicator you have, learning the market won’t be replaced with indicators, the shortcuts are the learning and using the indicator as confirmation to what you already know, this is what I do, and sometimes you see I take trades before the signals come and I say that there’s going to be a signal coming on that bar if you followed some of the trades, so what we need to take from all that, is indicators are great but the HOLY GRAIL IS YOUR STRATEGY not your indicator, and if you learn the market I can tell you that one day you’ll be a day trader as I am, cause I've been there and went through the exact thing most of you are going through right now, you have the thirst to succeed and the tools to go with but you’re still missing the confidence to execute a trade without fear cause of the learning curve that comes with it.
I’ll say it again, we don’t have to take the whole cake in the market, just one or two good setups that comes along will give you the financial freedom you’re all seeking for, making 2, 3 points a day, in time will give you more financial freedom than most of your jobs you’re doing right now, trading that with 3 to 4 contracts which is not unrealistic and making 2 to 3 points a day with good setup is not something that unrealistic could generate about $12,000 a month in average so don’t be like I was at first, wanted to take every opportunity that came along with every signal that plotted on my screen, and I did just that took everything and you know why?, not because I was greedy or anything like that but because I did not understand the market and didn't really know which one not to take I’m sure some of you can relate to this, we all go through this
Now the only way to make it in the market and become everything we just talked about is with lots of practice, and over 1 or 2 setups, you do that and I can promise you, you’ll throw away your current job, for this job is THE BEST job in the world, where you are your own boss, setting your own time schedule, not depended on a geographical location, and could even work when you’re in the washroom, LOL, do you know of any other better job than that?, well I don’t so do you’re self a favor, take my words and practice, on 1 or two setup, spend your time on finding those setups and less on indicators or background colors or other insignificant things, and get to work, when you’ll pass that stage, you’ll thank me for being right on this with EVERY WORD I give you here, as I said before I was there and wished someone could have given me all this info I’m giving you, but I had to learn the hard way, and paid money for it, flashed couple accounts while doing it
Today I want some people out there not to make the same mistakes I made and maybe be smarter than me and learn from someone who passed the staged you’re in
Good luck to us all, really mean it!!!

When I challenge Fib to MP, I challenge the indicator not your strategy, you cant compare a strategy to an indicator, just like the N@vi is not enough on its own till you apply it to a strategy, so what you do with your Fib is great if it works for you, no one here will doubt you until they'll try it for themselves I guess, and using a strategy with any tools will work
But what I challenged was the accuracy and frequency on Fib and MP compared, I hope I'm clear on that point and we all love you here and want to hear your analysis, so don't get me wrong by my words, cause I think the wrong message was passed here

moncar you need to learn Market Profile and watch the market for a while to get used to the rhythm, eventually you'll get the feelings as well.

B: with regards to the pitchfork and fibs and anything else out there, they only emulate Market Profile and can’t give you TRUE reading of the market as MP, if you are going to learn something, learn the real thing and not something that is not as accurate as the original, lines on the screen will come to play sometimes, but not all the time as fibs, moving averages and the rest
If you followed everything I did last night you’d see that I mentioned few critical points as we were going up, I mentioned way in advanced about 93.5 and we all saw what happened there, I mentioned about 85 and look how this point was critical, and before that I said:
POST #1159 (from 1783.5)
“this is a very critical point, from here we either go to 87 then 89 or all the way back down!!!”
I did not use pitchforks but pure old vanilla market profile, you can’t get such accuracy with pitchforks or fibs or ANYTHING ELSE OUT THERE so consistently and frequently as you’d with market profile, the only edge that pitchforks has over market profile is that it is easier to learn, TRUE I won’t argue with that, but do you really want to be second, don’t you want to be like me? Being able to read the market like that? I paid for that knowledge and now I’m being rewarded for it big time, I did not take shortcuts and sat on my a s s and learned and watched the market and realized market profile, I never heard ANY PROFESSIONAL TRADER in my life that claimed to say that there’s any other way to read the market better than market profile, so I know some of you are looking for some easy way and quick way to get better odds in the market, but if you want to be SUPER TRADER, this is the way to go!!!
And I’m not saying I’m a super trader, but with my knowledge I’m working on it and maybe one day I will be hopefully as we all wish to be

Those double trades alone got me $812.5

and look at the perfect spot I got out right on the tick, I was lucky there cause the truth of the matter it was very fast and Market Profile allowed me up to 77.25 with safety, I was careless on this trade

what are we suppose to take from this guys and girls, ONE OF THE MOST IMPORTANT LESSON IN TRADING!!!
your indicators or lines or what every you chose to use, should be accessed FAST and precisely, again I'm not putting down any tool out there, all of them proved themselves one way or another to be working, some are better than the others, but when it comes to quick fast actions, ask yourself this simple question DO YOU REALLY HAVE THE TIME TO START DRAWING LINES ON YOU SCREEN and make such a quick decision, your account depends on this and you are going to suffer or benefit from it, choose wisely the tools you want to work with
I think that over the last 3 weeks or so, I have shown you SO MANY professional trades already, and you really should have a good idea where about you want to see yourself in this business, if you want to be like me and have the same results over and over again and again, YOU MUST do the same thing I do and you'll get the same results
and for those who do it for money only, you'll be rewarded
on Sunday night and today I had 13 trades out of them I lost 2 trades 5 cars 2tks and 10 cars 3tks , and 14 points with 11 trades I totaled $4749.5 and the day just started, if you want to do such a living on a daily basis you'd listen to me and take my advices here on this thread

now whats the different between me and you?
you all saw the triangle on 6tks, you all saw the major resistance so why is it that most of you didn't take the trade?
the answer is confidence, I have confidence with what I do, and the reason I have and most of you don't is because I DO THE SAME THING OVER AND OVER AGAIN AND AGAIN I stick to my strategy and just keep on doing the same thing again as you saw in the last 3 weeks
if you practice on a strategy and keep on practicing on it until you feel like it's 2nd nature to you, you too would have the confident to go in even with 20 cars, cause for me IT'S JUST ANOTHER TRADE, I don't care how much money I put in, cause I KNOW my rate of success and I know that if I lose, there will be more winners, this is the lesson you need to take with you from this trade, not just calculate how much money I just made

cheers and good luck to all, I really hope someone at least is making the best out of all these posts I put

OK it's 4pm here, I usually go on but today I'll just take off here guys
hope you had a good day trading, we had another winning day, I know I have to work on my strategy as it's not the best but I'm working on it
you saw that in days like this I add more contracts and I make up for other days that I trade with 2,5 or so, this is what you should do, master your strategy and when you feel so comfortable with it just add more contracts, you'll be rewarded with the same risk/reward that you already trade with, I do that and you can see it for yourself in all the posts I posted here I try to apply what I say not just say it, and I got rewarded, made almost 10k today alone you can do the same believe me, it's worth the learning

Good morning traders, were up to a good start this morning, this trade was taken when I was at home but manage from my phone, cause I’m out at this time usually that’s why it’s coming late a bit
So I decided to short the 84, and if you look at you OFA, LADDER and your 15m, 60m you’ll see that it’s the bottom of a consolidation area 84-86, so when I saw that 15m CCI is under 0 (way under 0), red bars on the 60m, red bar on the 6tks IT WAS TIME TO FIRE UP, now these signal are more than enough to give you the go ahead, this is why I CAN’T add more indicators to my screen, it’s enough all this data I have to process, and I get a lot of opportunities with these SIMPLE indicators, it’s just that I know how to work with them, and been doing it for awhile therefore I trust it, and have the confidence to fire up when I get the chance.

My entry was before I was hit, as soon as I saw the exhaustion signal


When I saw 250 and 282 buyers that couldn’t keep it up, I knew this is an opportunity


My target was 80, BUT I knew I was going to have a problem with 80.75, I was about to change my plan and raise my profit target higher but the overall picture gave me the confidence to stay, now some of you might call it greed, I call it habit, I am used to see the market moves, and I don’t think money wise, but points and strategic locations

What you traders should take from this trade is, you see that my trades are calculated and predicted down to the tick, my way of processing the market is close, not quite but close to the way the institutions are thinking, I have a lot to better myself here but you get the idea, I know many times when and where price will go and where it’s going to stop, surly not all the time, but this is not a test nor are we in a competition with anyone out there, what we try to do is to have the probability to our side MOST of the time, and as of yet with all my experience and knowledge of so many indicators, I haven’t seen any way to have such accuracy in the market and WITH A GLANCE OF THE EYE as I get with Market Profile, if it’s worth it to you and you wish you had the kind of trades as I do and trade at a different level that what you do now, LEARN and PRACTICE, you’ll have an edge over MOST traders out there, and if you remember at quite the beginning of this thread, I mentioned that I SELDOM have a losing day, and of course it was hard to believe, I’ve shown you 3 weeks of trading that I had, I told you my losers as well, not trying to hide anything, but with this approach your loser will be SMALL and way FEWER than your winners!!! Guaranteed.
OK got to go now I hope I helped some of you with this info in your trading and maybe mentoring
Good Morning and Good Luck

This is an area I'd be VERY careful with, if you're not skill enough, save yourself from a grinding up movements, look at the 2tks chart we get too many consolidation bars
01-28-2014, 02:39 PMelgaza26
86.5, we could get a small or bigger retrace here

and if we do we could see the 84.5 in play, but heads up anything could happen
01-28-2014, 02:43 PMelgaza26
Look at your ladder and see where the institutions started to short the market exactly at 86.50 WHY??? it's not a guess the market has a rhythm and you need to listen to this music
01-28-2014, 02:47 PMelgaza26
NOW as tempting as it was for me to short this tick, 86.50 I DIDN'T cause it's not a setup for me I don't see a setup for reversal, just a retracement so far and 85.25 is how far I'd expect it to go down, but it went as of yet to 85.5
cant take a chance on a point like this when this area is FULL OF MONEY
01-28-2014, 02:51 PMelgaza26
if you expand you OFA, and by the way I change my OFA a bit, my friend gave me this advice and I agree with him, instead of 6/4 bars I've changed it to 12/4 just like the old legacy OFA that gave you 2 charts, 6/4 and 12/4, the 12/4 is not as noisy and still gives you good trend pattern and the exhaustion signals don't come as frequent making each signal more sifnificant

so look at your OFA and see how the going up is slow and the down bars are almost a drop, and 88 is a pivot, so this is why I'm not longing this or shorting this area, I leave this area to the amateurs and the institutions to fight here
01-28-2014, 02:55 PMelgaza26
look at you ladder and you'll see what I mean it looks almost like the closing bell at 4pm EST, see all the institutions are coming to play here
Do you want to get involved with them? I don't the question is who's gonna win this battle
but I'll be waiting for them to fight for their prey and wait for like a voulcher for the bones
01-28-2014, 03:04 PMelgaza26
For all those traders who loves moving averages, lines on the screen, Fibonacci lines and what ever other indicators you might have on your screen, none of them can save your b u t t from this, and I don't care how good of a system you have on your screen, you'd be chewed up like gum with no sugar and spit out in no time

01-28-2014, 03:06 PMrhv
Thanks for guiding us through this. i was looking at the ladder and did see all the volume come in as you were mentioning it. thanks elgaza.
01-28-2014, 03:07 PMrhv
i agree fibonacci wouldn't have told me this and i would rely on it a lot. Been watching videos of james dalton, balancetrader, and l2st. are there any others you would recommend?
01-28-2014, 03:10 PMelgaza26
but hey if it works for you, don't listen to me keep at it and do well, I just wish you good luck with it
01-28-2014, 03:20 PMelgaza26
rhv I don't know how much you've been following this thread, but I mentioned before and will say it again moving averages and ANY other line system may it be the Fibonacci as well are static numbers that relate to a previous trend, there are 4 or 5 levels in a Fibonacci that may give you the heads up, but those level will be broken every time and some of them will react EXACTLY to that level, but then again so will ANY moving average and line system out there, the question is how many times and at what percentage would you get a reaction on EVERY LEVEL?, if you want or anyone to rely on such a thing, you could and you could make it as some traders work with it and MAKE MONEY but the accuracy and consistency for winners are way lower than the ladder could give you or Market Profile would, that's it, I'm not putting any indicator down, cause they all reflect a market state for a given time so I have a lot of respect but COMPARED to MP or the LADDER I don't think they have a chance MP and the LADDER are REAL pivots not a calculated mathematical equation and they may appear on any level so, you know I'm just giving my opinion here and I doubt it that ANYONE professional that is will disagree with me here, and I'd love to see the one who could PROVE ME wrong with facts not just words that I'm wrong, cause if I were wrong I'D USE IT MYSELF

now I've learned this stuff mostly from a teacher of mine who taught me all that stuff he was an expert and unfortunately passed away, never the less he was not an inventor all the stuff he taught me could be found on the Internet there are many resources that could give you the kind of reading I do here just can't pin point on a specific one, sorry
01-28-2014, 03:25 PMelgaza26
you see anyone going in this area could be in danger this is the banks home, and you can't just walk in and take their "belongings" and just walk out without them running after you, it's like going in a read light with a police car standing right next to you, you'd need a Ferrari to run away from them, LOL
01-28-2014, 03:28 PMelgaza26
Here is a tip YOU SHOULD ALL KNOW ABOUT when you have VAH or VAL right next to POC be careful it will most likely go to the opposite side, this is so typical
01-28-2014, 03:39 PMelgaza26
yup I'm just sitting on hands can't fight this fight, I'll wait patiently and WON'T risk my hard earn capital for a market like that, SETUPS WILL COME ALL DAY AND EVERYDAY, we don't trade just because we HAVE TO BE IN THE MARKET this is not a game this is a way to make a living, if you want to be in all the time, better go to the casino where you'll at least have a chance to enjoy what you do and play something, here you'd be a gambler , just look what's happening here, now I myself saw few opportunities to get in and scalp a point, yes and I could probably make it, but what are the odds and chances that I'm risking? simply not worth it, look at the ladder and you'll see sellers and buyers on almost every tick, how could I make a clear cut decision with such a chaos
you get 1400 lot on the sellers and the price still goes up, how could anyone make a SMART decision without guessing here?
now drawing a Fib or going with moving average from the last drop on the 6tks could give you excellent pivots for potential levels, but under the hood you can all see that getting to those level was a miracle not a well calculated move!!!!!!
01-28-2014, 03:44 PMelgaza26
Is there anyone out there who reads my post that disagree with me, it's OK we're not in a competition and it's only my opinion you don't have to agree with me but I'd like to hear something from those who uses the peach fork or fib or moving averages and all those other indicators I see people are trying on this forum, and again I say those words with ABSOLUTELY NO INTENTION TO INSULT ANYONE or hurt anyones feelings, but from a professional point of view looking at a tool that is offered for us by NT or other vendors for that matter

so cheers everyone and take it with a good intention :)
01-28-2014, 03:52 PMelgaza26
Being a professional trader means not only knowing where to take the trade but MOST IMPORTANT IS WHEN NOT TO TAKE TRADES AS WELL

Guys I really don't know if I should show you my counter trades as I DON'T RECOMMEND IT TO YOU it's way too dangerous and look what is happening in the market, all you need to do is take those with the trend, not like me, these trades I'm showing you are really for professional only, as they can recognize such setups and have the confident to take such trades, so I'm not sure I'm doing the right thing showing you such trades really

OK this time I went WITH THE TREND and it was very rewarding as you can see

Entry & Exit:

put my order to sell at 74.75 my target was 68 but it didn't quite get there yet, it just may soon though

and just kept on lowering my trail till I got out at 71.25 pocketing 3.5 points

OK guys listen I deserve a break here, made my mornings trades totaled $3750 and now I'm going to have my breakfast

really you can all do the same thing as I do, when you get the hang of it, it becomes boring and something that's just repeat itself
it's like having money falling off and you just have to catch it, BUT to get to that was not easy, I had to learn a lot and mostly PRACTICE A LOT, now I deserve my reward for all that work I did

OK take care now will see you bit later
01-29-2014, 09:33 AMelgaza26
But heads up 6tks CCI is going above 0, 15m RSI is 24.4 and we have a divergence we are at the low of previous couple days
it's hard to pull myself away for breakfast at levels like that
01-29-2014, 09:39 AMwizard101
01-29-2014, 09:53 AMelgaza26
OK had to take that one just because it was SCREAMING AT ME, BUY ME BUY ME, and how could I or you resist these levels????

so I did go long and this time for the first time I just clicked Market Buy, this is where my confidence is different that most of you, I just know and used to this you are on your way there, well of course not all of you but some of you

OK guys I'm really going now made today since early morning $9250, if you want to make such money on a daily basis choose the right tools for this business and learn them like it's the most important thing in your life YOU WILL BE REWARDED

bye for now
01-29-2014, 09:59 AMelgaza26
BTW 76 exit target was not by a chance this is the safest place Market Profile allowed me to go to leaving myself 2tks safety, but I knew that if it breaks 76.75 it could go to 78.5 but it didn't and went to 77.75 but that's OK, we don't have to be prophet and predict down to the tick ALL THE TIME we just have to give ourselves enough room to get out safely THAT'S IT this is the game, a game of probability not being right, just being on the right side

take care all bye

Ha ha ha well it was fun though, got myself a $125 instead of $1750 OH boy, but I really don't beat myself to it
Those things come ALL DAY AND EVERYDAY, I really couldn't stay or even manage this trade from the phone, so was just hoping for the best but didn't get lucky enough

Now you see how this area is getting full with prints on the ladder, why is it that the institutions chose this place to buy and sell, why is it that this area the 81 is a top this is something that is hard to get with other indicators, even the ladder won't give you that cause it didn't happen yet, lines on the screen could be given on any level but to predict that the end of a 5 points run will end at this area cause the banks are waiting for you there. this could ONLY be achieved with Market Profile (I think)

Have I been in my office I'd bail out LONG ago and save my capital but it's OK and we'll wait for the next
They always come and always will, but it was fun, although it is something I WILL NEVER TELL MY WIFE I DID he he

My question is did ANYONE take this 2nd chance on the retrace or were you too afraid? I basically spoon fed you a gorgeous setup with all the details you should have taken it as soon as you got a signal to go up again from the same spot I was in, anyhow the confidence comes with EXPERIENCE ONLY! AND EXPERIENCE COMES ONLY WITH PRACTICE remember those words!!!
01-29-2014, 12:25 PMelgaza26
If you look at the ladder you'll notice that there were much more sellers on these levels than buyers so the scope is changing to bearish
01-29-2014, 12:27 PMelgaza26
15m CCI Turbo has crossed the 0 line down so heads up for a down trend but be careful cause the general trend is still up but this is the beginning of a down trend we might be seeing right now also according to MP but anything could happen we are now at the 78.5 area
01-29-2014, 12:40 PMelgaza26
YUP like I said, they will come back again ALL THE TIME and it still goes down but I'm out already, I"M ONLY TAKING WHAT MARKET PROFILE ALLOWS ME NOT A TICK MORE


placed my order before it got there thank to Market Profile


did you see the fight over the tick I was on, I almost bailed out but the overall picture gave me the confidence to stay

grabbed 3 more points adding another $1500 to my pocket this is turning out to be a great day for me

goodness, thank G-D someone is learning something from all this, I don't know how much of all this people are taking and learning cause I know what it is to be a beginner and having doubts, I know that a lot of traders say I COULD NEVER TRADE LIKE THAT, but it's not true EVERYONE COULD, I'm' a simple guy that DIDN'T TAKE SHORTCUT that's it, learned the stuff the professional traders learn and I do the same thing they do, that's it so I'm glad that your are learning from this, and as you see THIS IS ALL YOU NEED TO BECOME A PROFESSIONAL TRADER with almost no losing days, simple indicators, the trick is not signals but reading the market

GUYS this is a system that will provide you THE MOST OPPORTUNITIES IN THE MARKET not just when a price gets to a Fib line or a diagonal line, but EVERY LEVEL as you see me trading here you could be driving a Chevy van OR you could be driving a Ferrari with both cars you'll get to your destination but.... you know the rest

OK I'll post my next trade as they don't stop
01-29-2014, 01:08 PMelgaza26
OK we all saw the big fall, how many of you took advantage of it???


Look at the 2tks chart, RSI under %20 Volume bar is growing consolidation bar is forming

I did


Just another confirmation on the OFA forming of a new bar I knew I couldn’t think too much here but act fast

I did


Market Profile allowed me only 1.5 point and if you watched that tick it was STUCK in there for a while and almost got me thinking to bail out losing a tick but those b…d won’t take my money so easily and I got my target filled I had to analyze the situation fast

I did

Now look what happened it got to 76.5 2tks above my target as I usually give myself 2tks spread, 1 to be sold out and 1 for safety and it turned around rendering this trade a PERFECT TRADE again

So what you should take out from this is, as a professional trader you need to make quick and certain decisions, you need to work with tools that will allow you to do that with a glance of the eye, ANYTHING ELSE IS JUST SECONDARY TO THIS

YES you can make money in many ways in the market but really do you want to trade like them or like me be true with yourself and tell me you can get such quick decisions like that AND with such accuracy
01-29-2014, 01:10 PMthaomoua
Don't worry. You also have another student. (raising hand and now sitting down quietly) Still learning about the GOM and the point&figure chart.

Only problem I have is I log on about 30min-1hr later so most of the actions have passed.
01-29-2014, 01:14 PMelgaza26
thaomoua great to have you with us, welcome and I hope you'd benefit from this thread like many others did, I advise you to read this thread when you have some time slowly slowly, at least my posts with the trades, there are many other posts of other members here that could be of help if you are looking for other resources as well, I think you'll get the hang of it after watching so many trades I've done here

OK good stuff on to the next

Offline Sojourner

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Re: Gist O' Elgaza
« Reply #7 on: March 18, 2014, 08:27:26 PM »
Now this my friends is what separate the professional from the amateurs, amateurs will go with their signals, the professionals use their signals in their strategy, we don't take every signal we see on the screen, only those that fall in the category of our strategy and I don't have a strategy for day like this so I sit on hands

get it, we DON'T HAVE TO BE IN THE MARKET and be kamikazes unless you have some death wish, what we had until now was great and this is what I'm looking for I don't need ANYTHING MORE THAN THAT, so don't get all drooling and thing "Oh how much I could make if I only took this ride up, it's like 10 points and with so many contracts I could do that much" this is an amateur way of thinking not a professional
I made today alone $11875 do you think I need to go and get more in a risky days like that? na na na not me opportunities will come as I said, and look how fast things are moving are you prepared for this? I don't know about you guys but I'm surely am not
I'll wait for the "regular days" and continue from there
today I was really on a role as you can see all my trades I posted from this morning made 20.5 points to ask more is GREED and S T U P I D, which I'm not

OK guys I'm gonna do some things here as I don't see myself going in to this market, I mean look at the ladder again, I just can't compete that
go do something you were putting away all this time and let the storm pass by

take care now


you should know I don't just sit next to my computer and wait for a setup at times like that, I do other things but I got laptops and my tablet always with me at home so I always watch the market waiting for my chance to make

this is what I do for a living, just like a doctor on call, this work is NOT 9 to 5 job, for a real trader you take what is coming to you
01-29-2014, 09:11 PMelgaza26
OK market moves pretty fast as we see, I didn't have enough time to post the first trade and took already 2nd trade
I'll post both of them right now for you to learn from

Good morning traders I hope we all have a great day today

10suited Market Profile is not a green arrow red arrow indicator, Market Profile is the GPS of the market it will tell you where is the next station the bus will stop at, but it won't tell you when, you're gonna have to learn Market Profile and most important WATCH IT to get the context and understanding of it's behavior but if you do that you will be rewarded like NO OTHER indicator can reward you and I show it here over and over again and again with so many perfect trades so to say that are measured from tick to tick the only thing I have to combine with Market Profile and this is something I'm not at best with is the trend, but once you have mastered both Market Profile and trend you will making trades with near %1 or %2 mistakes yesterday I had 14 trades with no losers but of course this is not a normal day I do lose as well ad I do say it here, I don't hide my trades and if I lose then I lose and onto the next, now imagine if I mastered the trend, well I can't imagine that
01-30-2014, 08:10 AMelgaza26
exp48967 as to your question "I mean what indie/chart you look first, then the second etc."

The higher the time frame, the more significant the signal is, the bigger the moves you'll get so for example getting %80 in the 60m chart is not the same like getting %80 in the 2tks chart, the affect is much stronger than smaller time frame, so I first look at the bigger picture this is the most important, then when I get the feelings I look for confluence on the smaller time frames like the 6tks chart when I get that I look for entry on the 2tks chart, this is how you should look at the market if you look at a picture from 2 inches away, you miss the whole picture, look at the whole picture first then look for the opportunity and a refine entry in the small one

Il Quotidiano Gratis you'll notice that my trades are close to perfect almost all the time, money management are best for those that are not as sure as I'm as to where they are going to go out of the trade, I know exactly where I want to go out, and when it doesn't come to play I just put a stop loss or bail out, other than that I chose how many contracts to to in the market according to the setup, that's it
I know I have to work on some things with my trading like my trend and money management and stuff like that, and I'm working on it
01-30-2014, 09:30 AMelgaza26
This was a bit dangerous trade as I gave myself only 1tk spread considering the range and momentum we just experienced and it was right on my tick that it got stuck and paused, but I’ve allowed myself to go for the 1.5 point because we did not go too far off from the 78.50 pivot any way
I got filled by luck I think cause it just took me out without really going that 1 tick lower so I really got lucky here, it may just keep on going down but that’s not the point

Got lots of momentum here got %80 RSI from 2tks +200 CCI from 15m and 60m charts this was a signal to fire up a long, my only mistake is for going with 5 cars only should be 10

I don't know how many of you when you get to a trade ask yourself the question "when do I get out from this trade", do you have that every time you get into a trade? I did, and could never decide and I'd let my greed tell me to wait just a bit more, one more tick, and then you give it all back and then some

OK I hope you're getting the idea here how important it is to work with the right tools not just signals to go in and out, how much MORE IMPORTANT IT IS TO HAVE A SOLID STRATEGY than a solid indicator could any Fib, PeachFork, MA, diagonal lines save me out of this trade? NO even the ladder didn't show much but Market Profile saved me once more as it did for so long now

So the point of this trade is not just another setup but the fact that I JUST walked in and sat down and was able to spot a setup with a glance of the eye, this is what you want from your screen and tools you're using

OK enough this is the last one got to go to sleep, just this level was way too hard to resist and it was just SCREAMING AT ME to buy long, I did with 10 cars, probably should have gone with 20 at such levels, any way tomorrow is another day and today was a good day for me gonna end it up with a total of 22.25 points almost 9K I can go to sleep now

So why did I go long here?

look at the 15m chart, if you can't recognize a PERFECT SETUP for a long here, STOP LOOKING FOR INDICATORS AND START LEARNING SIMPLE CHARTS you'll do yourself a favor as this is the basic of trading, and if you don't have that, guys like me will be waiting for your MONEY so please don't fool yourself. I may make it look so easy IT'S NOT

k33, while you are under water, when I started I drowned so don't let it get to you, when you learn how to ride a bike, you'll have many falls until you get the hang of it, but when you do than you'll have the skill to ride a bike FOR LIFE it goes the same for trading once you master a strategy you'll have a gift for life, don't give up and just learn one strategy and excel in it

I know my strategy is not the easiest I mean few times I use only Market Profile and that's not for the novice, or even for an advanced trader who is not thoroughly familiar with Market Profile, many times I have trades that the entries are pretty easy to understand, with just the tools we have on the screen but my exits are mostly by Market Profile and that sets a lot of traders back

I'm going to try to set a different strategy to those who want to practice and still take a cut from the market without having to know Market Profile, your trades will not be as stretched to the limit as I do, but who cares, what most of you traders need to get out of the market especially if you don't have a strategy yet, is 5 points a day. This is more than enough for anyone to be called a successful trader in this market
You can all do the math what kind of a return you can get with 5 points a day, in 20 working days which is one trading month, you can average $5000 with 1 contract. I think every one of us would be very happy with such a return on your money I know at my first days I wish I could only make 1 point a day so that I can still be in the game and raise my account slowly slowly.

So wait for update as I have to test it and see how it works, if it works well for me and again without Market Profile, it should work well for you just as well and maybe than we’re gonna see some trades posted on this thread aside than mine, lol

OK so will update you on it, check us out here from time to time when the market is open
Take care my friends and good luck in your trading career

SignalTime first thank you for the warm words I appreciate it

on that trade if you have the charts in front of you'll see that we were coming from down upwards and we crossed the POC which was 1779 on the 6tks and 2tks charts so when I saw those 536 buyers coming in I thought it's a good setup, we are above POC 79.75 buyers are coming and they may want to push it higher, my entry was good, I did not make any mistake there in terms of the setup, the only thing I had against me was that it was few minutes before closing and the institutions already set their positions for next week
when the buyers came in price went 2tks higher and I put my entry at 79.75 right on the same tick as those buyers, cause just look at the ladder 2 bars away and you'll see how the institutions are not gonna let this level go so easily higher they are in position already and they are going to fight for it, and they did, as soon as I got filled, it only took few seconds and I saw the 708 lots coming in in one shot, I KNEW I HAVE NO CHANCE but to bail out, I was quick and closed the trade one tick under me and got filled another tick under losing .5 point on this trade
but will get it back my friend I did not forget it for them I will revenge LOL
02-02-2014, 12:20 PMelgaza26
OH I see, so as soon as market starts I should see the history right?
02-02-2014, 12:26 PMIl Quotidiano Gratis
Originally Posted by elgaza26  View Post
YES I did, my friend raised that point and when I changed it, it just made so much more sense, I'd much rather see less exhaustion signals than so many like we did in the 6/4, the 12/4 exhaustion signals are much more significant and if you look at the chart you'll see that when they do appear, rarely they would get broken before you'll have a retracement of a point or two, which should give one enough time to bail out or have a very small loss, but most of them will give you nice retracement and that's what we want quality not quantity!!!
i understood what you mind. just to speak did you test 9/4? is it the same like 6/4 many signals?

for ofa setting...i not sure but i remember, if you go in opzione your corrent data feed connection there is set for data history.... do you chack it?
02-02-2014, 12:43 PMelgaza26
First I wanted to set it up like the legacy OFA which gave very nice reading on clusters and major pivots so I don't want to go lower than that and get more noisy, I checked it out and it's really good so I'm gonna stick to it but thanks

as for the feature in the options, I don't see any feature for that, the only one there is, is in the Data Series and there is an option to get the feed from IQfeed which is not relevant to our problem

will have to wait till market opens and will see if I get the bars plotted I guess.

OK Jane so goodness we don’t see you for awhile, well it’s good to see you back.

So I will try to answer your question one by one and hopefully you’ll understand why my setup is like that

1)   A: I use point and figure bars cause of the logic it has in the reverse pattern, they are not much different than the OFA, you see the way it creates a new bar each time has to do with the reversal in the bar and not by time factor which makes the bars themselves an indication for a trend reversal

B: the reason you don’t see all the bars is very simple, I filter all the noise from the ladder and I only want to see the institutions therefore if a bar will not have the institution involved there will be no prints therefore no bar, otherwise if any cell will have the institutions involved than that bar will show and any other cells in that bar will show 0 if no institutions are involved.

You see the problem with most traders out there is so common that I see it all the time, everyone is looking for a signal from their charts and this is not the way to work with your charts or you’ll go crazy, we are not machines and we can’t process all this information fast enough every minute, the ladder is showing me where the sharks are coming in and that’s all I want to see I don’t care for anything else about it, it gives me a clean chart a sonar like scanner that reveals to me instantaneously where the danger may be, cause anything else in terms of numbers is not as significant as these, and if you put all those numbers with no filtering like the OFA does, then you try to do justice with it, not that you can’t see some levels ya sure you could, but you DON’T KNOW which one are the institutions and which one are not and even if the institutions are going small it’s not as important as when they go big time, cause when they do YOU’RE GONNA SEE SOME MOMENTUM and this is what we want from this chart, NO MORE, the rest is not as important.
(At least not to me, if it is for you than by all mean be the human calculator)

2)   Your question about the OFA exhaustion and as for the repainting affect well when an exhaustion signal appear, it could disappear just as fast as it appear, and the reason is not because it’s repainting but because it represent the market state at a given time, and if at one moment there was an exhaustion it does not mean that it must stay like that, you could have more buyers or sellers coming in from nowhere and change the situation, but the times that that happens are less than those that the signal just stays, again it’s a game of probability, and this is why I changed mine to 12/4 so to not to get to noisy there, I also added the VCA so I can see more clearly if we get BIT or SIT, I wish I could filter OFA so that I could see the institutions than I would use the ladder I do now.
Another point that I’ve noticed, I don’t’ think that an exhaustion signal comes from the very top or bottom tick, I think it could also come from the 2nd tick next to it as well and therefore it looks to you like it’s repainting, but I’ve watched how it works and it prints very fast and sometime it comes and goes quickly just because of volume change, so if it’s repainting it would do it all the time and not when it feels like it.

3)   As to the divergence indicator, well ANY indicator almost is useless when we are in an explosion even Market Profile is losing its accuracy as happened few times in the big dump, there are ALMOST no rules when a big dump like what we all experienced comes in play, the only thing that may still hold are horizontal levels given not by Fibs but ONLY by lows/highs of day/week or a very significant point in Market Profile the Fibs level will be pass through like butter so to any moving average or peach forks, diagonal lines anything with a static number will have no chance for accuracy in all the levels. from my experience I’ve used them all and I know the % rate of accuracy you’d get from diagonal lines peach forks Fibs and all that compared to Market Profile or just simple lows/high of days/week/months these are the strongest of all
The divergence signals are mostly extremely significant on the 15m, 60m and 6tks charts, the bigger time frame, when you get one of those on these charts than you can’t just ignore them, open your 15m chart and check it out, I know some people who pay money for such signals, no joke, and these signal are better than what they get and more often

4)   As to the volume bars in 1 minutes chart compared to 2tks Renko the answer is very simple, it depends on your style of trading, a 1 minute chart CANNOT GIVE YOU A CLEAR PICTURE ON THE BIG SCALE that’s it no argument there, it’s too noisy, now if you are a scalper for 1 point or so, than it could be good for you, but the difference between a big volume bar in one minute and a big volume bar in the 2tks chart is huge, and to prove my point, just look how many big bars you’d get in the minute chart and what kind of “big volume bar” are we talking about, and look at the 2tks chart, they don’t come that often but when they do, it’s like bow and arrow pulling the arrow and waiting for a good run.
You see we don’t need signals in quantities but we need only a few with quality, I’ve shown many time on this thread with many trades how I take advantage on a big volume bar that forms, and I have warned many times ahead of a forming bars like that and we all saw the huge affect that took place after that, and I kept on repeating myself numerous time here that volume precedes price, just because we saw what happened after such big volume bars like that also I have enough time to analyze which direction it’s going to fire, in a one minute bars it’s too fast and too sporadic

You can do a little test for yourself, expand you minute chart and look at your big volume bars there, and see how much of a run you got from all of them and how many you got, and then do the same with the 2tks chart you’ll see the difference and the clarity.
Jane these were great questions and I’m glad you asked that, cause now a lot of people who didn’t even think about asking such questions can realize and understand one more step than they did before your post, thank you.

And I'd like to thank EVERYONE HERE who is participating making this thread a bit different than a collection of indi's

OK Jane pay attention, see how the Turobo CCI on the 15m has cross the 0 line, that shows of strength not a signal
same goes on the 6tks this is strength and trend, the signal I get from the 2tks and MP right now on the ladder
02-02-2014, 06:17 PMelgaza26
did you guys see how easily we crossed the 79.25 and came back to 79.50 now that's a signal

Looking at indicators and signal won't make you a trader, you need to see and understand market context, and it's not that hard, these are things that have happened for the last 100 years and they will repeat and happen tomorrow too, if I were you I'd go and visit all my trades and learn those setups, write it down and not just admire them, but learn them, and try them with a demo account, I've showed you here so many different setups that are almost guaranteed to be in your favor, write them down and concentrate on those and practice them, watching with your eyes won’t do it, practice with 1 or 2 setups and master them, you will thank me eventually and you will get rewarded

I don't have much time this morning but look at your 2tks chart and see the %85 RSI there
How many times did we have that kind of setup I ask you, and how many times you heard me that I drool when I see %80 or %20 RSI and look how the market plunged almost to the same place where I got in at 5am, I should have taken this trade if I had the time now, but you get the picture, this kind of setups just repeat themselves over and over again and again all day every day, no market profile, no lines, no fibonacci lines no special indicators or HVC or what ever, just simple setup that you could all just remember and take advantage of when it comes to your screen

So last word for this morning before I go.
Guys you see since Sunday night and to this minute I made 17.25 points, and the amount of money makes no difference right now, what’s important is that I just use what’s in front of me and you have the same tools as I do, well maybe not the same knowledge yet but it will come, I was there too. this kind of trading my friends can be done by anyone the market is predictable as you see me making predictions day in and day out and they are pretty much on the dot or just about close to which is fine, you don’t have to be that accurate as I do but just get the feelings as to where the market wants to park next and jump on board, I know it looks easy when you see all my posts but it’s easy to me in a way cause I have practiced it, but it wasn’t in the beginning, you do the very same thing I did and you will get a the same results or better, I’m not the best out there that’s for sure, just a guy who takes advantage of the market

OK so I told you guys that I was waiting for the 60.50 to come in play and I will watch (as much as I could from the phone) on that level, and the reason was, for those who didn’t realize it yet, if you open your monthly chart you’ll notice that last November bar is the one that parallel to our bar at this moment and it has a low of 1736.25 and we all know that the low or high of a daily, weekly or monthly charts are very significant, especially the bigger time frame
the bigger it is the more significant it is, so I put my buy order at 1736.50 and I got filled, the truth of the matter I was very surprised as to how low it went under that level, but I had no doubt that it will come back, as this is a well known trick of the institutions to wipe out all the stop losses and then retrace up, we see this kind of behavior in the morning at the opening bell quite often.
Anyway I still hold that position 36.50 long and I’m not sure how long I want to hold it for, this is so not my style to be a swinger I’m usually a scalper but on this trade I allowed myself to be a swinger, just because my personal matters I have to attend, so I just watch it all the time and looking at the market as a whole picture and where we stand now

So as I said I don’t know when I’ll get out from this trade but I think I want at least 10 points on this one as to have a 2 to 1 risk/reward ratio
The only thing is I don’t like is that I have to watch it all the time and I’ll have to use my friend again at night as I did already before once, other than that I think it’s worth it so far

Now one more point you need to understand and I said it many times before here
For me it’s just another setup, as I don’t think about it in money term, I try not to let it affect me, but you get used to it after awhile trading. anyway, so don’t get overwhelmed if you see that I took a 4 point heat, it’s all just risk/reward ratio, and I’m not next to my computer so I can’t be that dynamic.

I put a stop loss now on 36.75 1 tick above, I know it may sound crazy to some of you who are not so familiar with swing trading but in reality to swing trader the put their stop loss way under their entry and they would call me crazy for keeping such a tight stop loss, well I’m not changing my style completely on this trade, but now that the RSI on the 15m started to go above the 50 line, I can’t take my chances again, cause if you paid attention it was under the 50 line the whole entire day, and as a matter of fact it just dragged itself on the %20 almost the whole day today, so if this run up is not going to make it, I won’t take any more chances

Moncar, I am sorry I was not more clear. I posted the blue chart that shows the high and low volume nodes of the volume composite. The market typically may react on the levels. One may say it is also MP related. If you keep an eye to those levels and use the Navitrader, one may trade off those levles with the odds more to your side. The levels change during day as volume is added to the volume composite. So it is hard to look waht happened in the past.. Here you see a chart of what recently happened. See how the market works on the levels. Imaging taking the trades with Navitrader.
So the black lines I add manually from my MP system which does not run from NT. NT has similar systems showing the levels.
Here is the chart.

02-04-2014, 10:52 AMelgaza26
ok I had enough of this market I just got out with 10 points not going to stretch it any longer sorry but can't take a pic and there is nothing really to learn from this trade,I wanted 10 points and thats it no MP or smart exit just had enough
02-04-2014, 10:53 AMwestvleteren
Moncar, so just trade the triangles once they occur when at a level. If triangles occur away from a level, just sit on your hands.

Now don't lose focus of the market, we are still in a bearish market, don't let this run confuse you here
02-04-2014, 03:14 PMelgaza26
Look at your 60m charts and see how we were just grinding it up, this is normal behavior for a retracement, this is not a reversal

Offline Sojourner

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Re: Gist O' Elgaza
« Reply #8 on: March 18, 2014, 10:37:35 PM »
02-05-2014, 09:02 AMelgaza26
this is a game of probabilities as there are no guaranties but remember those loses of mine are part of my %100 successful trading system, I don't have %100 winners no one has, but if my system generates lets say %80 winners than the other %20 are just a part of the %100 winning system so it's OK in the overall

guys those who follow me know it already cause I said it so many time here in the last 3 weeks, when you master a setup and feel very comfortable with, just add more contracts the risk/reward will not change, your confidence will not change, the setup doesn't change, the only thing that changes is your bank account

anyone can do this, now I know you all add up and see how much I made so far this morning, but you know what, for me it's just 4 trades no more
I've shown how this kind of trading can be done on a daily basis, and how I make sometime trades at night when I see a setup forming, and again it's just another setup, the money is a factor in all this but not the major one anymore, you'll get to a point that this will become boring like I got bored last night and just went to sleep as I wrote there, and you see why, you get used to such trading and such money coming at you, I know it's hard to understand but trust me, it get boring sometimes, but always challenging

10suited do you look at the bigger picture?
do you look at the 60m chart, if you didn't you'd notice that 44.25 was a resistance and maybe a potential short IF a signal comes but you got to consider everything not just red green signals
we are ranging like crazy between a crazy 20 points range so far so expect the extreme and the edges are the safest place
I really advise you and everyone here not to counter trade so much it does take more skill than trading with the trend, you see me doing it but remember you only see the end result the entry and exit and it looks so easy like any chart with signals that looks easy to get in and out, but its not if you are not as skilled, it takes a lot of practice and hours of feeding the eyes with market moves

samsammy yes I can completely control my computer from my phone, it's not the most comfortable but doable, I have an android phone and I use realvnc to remote control it it's just great, but to do specific things like taking pictures is more time consuming than click the buy and sell buttons, you'll need to right click and go down to image and save as, just too may steps when not done with a mouse, not to mention that you cant see the whole screen when you do that so you don't know if you are out or not while taking a picture, that's why it's hard for me to provide exits picture with the phone, entries are easier cause you have more time until your profit target is met

OK so the 60m chart is showing us the highs of 52 area and when I saw on the ladder the 854 lots that came into play here I just took a ride on their back and did not wait for the 52 , I knew it's not going to be a long ride though so I place my target at 43.5 and trailed it down and got stopped at 45.5 taking another 1.5 points there

I don't know how many of you are taking a look at the bigger picture, this is the main trend not those small one we are experiencing guys
open your eyes you may save your b u t t s this way
very good long term analysis- you might be right but i believe that the market will show us lower lows and lower highs if it wants to reverse- till then lets follow what the market is saying.
the uptrend is definitely weaker by now- i know it because it failed to make 1.272 fib extension and only made 1.12, but that is still a higher high.
once it gets to 66 which is the 78 fib of the previous leg we will know - because if the market wants to reverse it will do that on the 78 fib.
i am falling asleep here.
02-06-2014, 12:16 PMelgaza26
My biggest mistake in my first days was that I was so focused on the smaller time frame, like the 5m 15m charts and when it got against me, I couldn't swallow my saliva
watching on 2tks or 6tks only for setups is a mistake of all beginners, it's like looking at a picture 1 inch away, you cant see the whole picture this way and you're gonna miss the point, guys start expanding your daily charts from time to time a get you heads out of you b u t t if you want to make money in this business this is not a game, you are up against giants here who are doing everything you don't, instead of concentrating on triangles, concentrate on the bigger picture and then look for an entry with triangles or what ever method g-d knows you're using

I wish I could engrave this post in your brain, you'll thank me one day for that.

Hi Jane, the N@vi signals are not just a simple cross of the keltner bands, they're a combination of the keltner bands and sar indicators

10suited ya they look pretty much the same, now there are 2 reasons as to why I don't trade the Forex

1 The forex is not driven by a regulator or an index there is no "manager" to it so to say, and therefore very unpredictable, compared to the stock market or ES futures and alike which are a reflection of the index, are much more predictable, they are driven by a number of companies that can be watched and measure by market breadth, something I can't do with Forex, and what I'm looking for are trades that give me the most information I could get on and the most "behaved" I could expect, that you can not have in Forex like trading the index

2 The commissions you are paying in the Forex are too big and could do some damage for the unexperienced trader, it's much harder to scalp than stocks and futures, so why should I go to such a market?

money can be made in the futures just as much if not more than the Forex market if you know what your doing, and the risks are lower, so most people trade the Forex cause the money return really blinds them, or they have a personal fond to some currencies, I just have a fond to money and don't care where it comes from, just as long it come in the easiest way!!!

Jane it depends where we get those signals, for most traders who are not so familiar with the market and all they could rely on are signals than ya, that's all they could do, just take the trade and do in their pants while holding their prayer books hoping it'll go their way, the truth of the matter is that the triangles or what ever signals you use should be used in two different ways:

1 in choppy days, this is where the novice will have a chance to make money, not on trending days like this, it's not easy as it looks after the fact, trending days are the hardest days to make money for two reasons, one is that we are not used to it as it happens only %20 of the time, second to most traders fear over comes them and they either go in too late or try to counter trade it cause they are used to W and M kind of markets

2 in trending days I would use them only in conjunction with major pivots as the rules are broken most of the time like we see today, so days like today you want to open your eyes and look at the bigger picture cause with the amount of money that comes in to the market, you'll get lost with any signal system you might have.

days like this can kill the Fibs and even Market Profile levels so one should be very careful and not try to outsmart the giants with our analysis, the best we can do and the safest thing is just to take a ride on their back

this is why I'm successful in this business I'm not trying to drive the car here, just trying to ride on their back.

fedya9568 taking trades can not rely on signals only this is a wrong approach but considering that you just started it's a great start

You have posted only the 2tks chart and we don't see the 6tks but let me give you a tip here, you need to take trades ONLY with the trend, meaning if your 6tks charts is trending down, you don't take longs only shorts and I think you mixed it there a bit

The trend could be determined by 2 aspects 1st the N@avi signal to show you a possible reversal or simply by the CCI that gives you a proper direction of the trend, so if you have the 6tks chart trending down, you dont take long trades even if a signal comes up cause they will be short as the market moves in cycles and you're not ready yet for counter trading as these are the hardest trades to take

So practice but only with the trend, you'll be surprised how much your rate of success will jump up, and still having so many setups in a day to make those trades

Good luck to you and I hope others will learn from you how you took tools and from the first day are able to make successful trades, this is what every newbie needs, easy to understand and easy to apply, stick to it and practice until you are sick of these setups, cause when you get there you wont need anything else to make money you'll have an edge on most people here who are looking for indicators and not practicing their trades instead

02-09-2014, 11:11 PMelgaza26
you can see the difference in the daily and yearly MP
the daily MP shows POR and the yearly shows a flat
that means that this area will not act as a POR but rather an area to be filled and we are going to see some activity there, if and when we go there
02-10-2014, 03:46 AMenzofox
Hello, I miss RSi And CCI and volumes, who can post them?
02-10-2014, 05:48 AMelgaza26
Originally Posted by elgaza26  View Post
I would bet it to go down to 88 area and then from there it could go up go continue down to 84, but I'm not gonna watch it all night though
Good morning traders, I woke up not long ago and saw we are back at 88 area, so why am I quoting myself here?
This quote was at 11pm EST, 6.5h ago, the reason is very simple, I sat next to my computer, took a quick look and was able to tell you such a thing with a glance of the eye, also about the "sandwich" we were at at the beginning, well so what
Well the point to take here is, could you get this stuff from peach fork?, YES, could you get it with Fibs, YES, or diagonal lines, YES, probably to all those tools the answer would be yes to a certain extent, but the difference is HUGE
1) I don't need any tools to draw on the screen to come up with this predictions
2) My targets would be more precise than ANY line system you choose to use
3) I can do this on ANY level of price even 50p away and still be precise to the tick
4) And most important which I left to the end, I have the confidence to take action every time upon it with no hesitation, and that makes me $$$

Bottom line and the lesson you should take from this trade and this whole Sunday night:

If you are about to spend time learning something about the market, spend it on THE BEST approach, don't settle for less, it's all about confidence and knowing those tools I have on those screen will give you the confidence you need and the financial freedom you seek
I'm a living proof of that, a guy who started by looking at indicators at first!!!


But then again we don't have to be right down to the tick every time, just to know where about are we going to park and where those institutions are going to step in and when we see them coming in we just bail
I don't want to put too many pictures but look at your adder and see the activity at the bar where it got to 86.25, (BTW on the night session and preopening I set my filter to 50 instead of 200) this is the reason I bailed out and didn't stay for a miracle to happen
could you have gotten a better decision to bail out with any other indicator? NO, you need the ladder, and you need every thing you have on these screen but you also need to know how to work it

I hope you enjoy this thread and are making the most out of it, cause I don't know where else you'd get information with setups and explanation like this, over and over without being a member of a chat room or something like that

guys this kind of trading is not your usual kind of trading you see in live rooms, it's not just a setup that comes along during the day, it's schooling about market context which is the most important piece of information you could get in this well organized chaos
I'm sure most of you would like to have trades that would take you to the next level of trading, not just having a successful trades, but trades that would challenge you to a level of the institutions, now don't get me wrong here, I'm not looking for the pat on the back or the respect, I get it and got it enough in my trading career and still do by other professional traders when they see that trading could be taken down to the tick on a regular basis
what you need to do is what I did and I wrote it already before on this thread: swallow your pride and understand that you are not smarter or better than those other millions of traders out there, understand that the holly grail is not an indicator but you!!! and understand that if you want to make it in this business you'll need an edge over most traders out there in the world, since most of there don't quite cut it.
don't look for a shortcut with better indicators I doubt it there are any that would yield better results than the N@avi and the D3spotter divergence we have here cause as I mentioned so many times here, if you can't make money with these signals, you won't be able to make money with any other signal out there
learn the stuff, YES it takes time like any other business out there, look at it as a course you're taking and for g-d sake practice, not with your eye but with a demo account, don't be afraid to take trades, and don't beat yourself if you failed, we all did but you'll get better and better as you practice more and more
I wish you all good luck and successful journey in this great career.

it was very quick and I knew it will , as this is what happens in a chop but in these level next to POC it's Turbo sometimes.
look at the ladder and you'll see the big guys are stepping in here so be careful and headsup.

Traders I won't have much time today to trade as I have to go to Buffalo to help a friend with his HFT server, I guess they want to integrate Market Profile in their algorithm, so I won't be here for long sorry

I'll be frank with you, I'm very confused right now

according to market profile we should be heading south, but considering what we experienced on Friday it's not as easy to say that anymore so we are going to see some chop on this level
that was 10m after the opening, it's almost an hour after now

now could you get that kind of information with an indicator?
wouldn't you pay money for such an information if you were to trade?
well guess what you don't have to pay me or anyone else a penny, all you need to do is read this thread and realize that what I'm talking about is from experience and not just by being haughty
this is the edge you need to make your trading different than anyone else you're used to see out there, and I'm just an OK trader
think about if I really better my style in a trending days like Friday
if you went to see other indicators to try, then you missed the point of this whole thread and you're trading career is still far
now having said that, I will still test any indicator that is volume related, but nothing else, cause I already did for years

Guys again I'm showing the totals, money as well to stimulate you in investing in the best of the best, not just a get by products
I've shown how I make such money on a daily basis here in the last month or so, trust me, you can do even better than that, I'm not the best believe me, and still have a lot to learn, but if it's money only your after than this should convince you to learn these screen

I'll tell you some thing, when I was learning this stuff, it was like day and night all day and all night, it took my whole essence, so much that I remember one day when my wife was in the hospital delivering, I was right next to her holding her hand, and she was strapped to the machine that monitored her, she asked me "when is this all going to finish?" with pain, I looked at the monitor machine and it was plotting the graphs you know so I told her, if I had my indicators here on this graph I'd tell you when you'd deliver
she didn't laugh!!!

I'm confused admis, your post before suggested something else, if there's something else you think is best for this thread and our important members than I'd consider it
But I'll say one thing, and I want every viewer here to listen carefully to these words and remember them cause I wrote it before but I'll repeat it again:

No matter what tools and strategy you might be using, and no matter how much practice you put on your strategy, being a successful trader is comprised of few elements and one of them, very important one is "the eye needs to be fed" hours of market movements you need to get used to all kind of patterns in all kinds of different trading days, sorry you can't just cut that out, you need it and you won't trade well without it
What I'm trying to do here is some what shorten that process for you and explain those setups that comes along the day so that you don't just look at it and try to figure it out by yourselves but to actually give it to you on a platter ready to be eaten, but still I know very well that even 50 times watching the same setup wont do the job just yet, but without those 50 time you'd need 500 more hours of staring at your screen trying to figure out this well organized chaos you are watching
the other thing I try to do is to simplify the process of getting there to most traders out there, especially those who don't yet have a formed way to approach the market and need one that is simple and yet gives you enough opportunities to take a cut in the market, and one that works, those who are already used to all kind of lines on the screen will have hard time to adjust or change their approach cause it takes time until you get comfortable and used to a system, those guys will the least one to benefit my system cause it's not the same writing on a blanc paper then writing on an erased paper
the newbies are the one that have the biggest chance here I think, cause they don't try to smarten it out but just to absorb as much as possible
and it's those newbies I try to infuse all these trades and repetitious setups that I show on a daily basis, I've seen quite a few of them here adopting my screens and strategy and some of them are making quite a good process, good for you guys I'm proud of you
those who want to have the kind of success that I have must do the exact same thing I do other wise any different thing you do, will be up to your own experience and your own rate of success, but really guys lets face it, do you really need more than what I make?
if your answer is yes, than you're greedy and need to go back and learn the basics and principles of the market
the other element you guys are benefiting from all those trades and not less important is the incentive you get with all those trades showing you again and again that it works and slowly slowly infuse in you the confidence that you can do it too!!!, yes in time and with patience but it's doable, I'm not different than any of you here, I'm just a graduate and you just registered to this school

so if someone have an idea as to what can be better for this thread I'm all ears, but understand that doing something like Skype or JoinMe thing is not very practical to me as it takes too much resources from my computer and I feel it when I remote control my system from my phone, so I can't afford that, sorry

OK traders enough with this nonsense let's make some money now, this is what's it's all about don't you think so?
02-12-2014, 08:05 AMCashManic
Well I have a suggestion and hopefully the forum admin and mods could comment? How about opening a new forum section on I-I called Traders Journal, something akin to what they have on BMT. For traders who have a decent system and wish to show, teach and explain their methodology.Since such a place would essentially be a "dedicated" forum it might prevent hijacks and off topic posts (accidental or deliberate).Admis could be a mod for the Traders Journal forum!;)
Elgaza has clearly shown the popularity,interest and importance for such a forum section so hopefully we can get one going for the ones who wish to start similar teaching threads.

CashManic you have no idea how much I would love to read and learn strategies from other people, I've had it with indicators already, I want some strategies, I know I too have to better myself as well, we learn everyday you know, and I mentioned it so many times before, if someone think that he has a strategy that works with proof to come with it, I'll be the first one to thank him/her
now a strategy is not something base on an indicator and telling you how much you could make if you went in at that point and so, but something like what I do, giving you a reason as to why I go in the market and assessing the risk reward that comes along, something with peach forks, diagonal lines and Fibs line is not a strategy it's analysis and one can not justify going in and out a certain tick basing it just on these data, I think especially for the beginners it's not enough convincing to take such risks and usually it takes much bigger accounts with this kind of approach
so ya I wish some one would come forward with a new way, so I'd be the listener, I'd much rather that than to try to run this thread, some people need their ego to be fed, I need my kids to be fed!!!
Modify message

if it was me on the other side like you guys, than this is what I'd do, I'd go from the very first post of mine and read every post, and when ever I see something important in a setup or a mental thought I'd write it down on a paper or a text file, and I wouldn't wait for someone else to do it for me, I gave so much information here that is way more important than any pdf guide could give you, it's up to you to write down what's important for you and make that extra step, if you don't than don't blame anyone just yourself for not doing the least that is expected when you get such invaluable information
guys seriously you need to be active not passive if you want to make it in this business, this is not a joke, if it's important for you as much and you think you have a chance than get you b u t t off that chair and do something about it don't wait for someone to click that mouse for you, and do everything for you, is' all given here already and spoon fed to you, NOW CHEW!!!

Just a curious question. I am not looking for holyG. I like and follow your system. Even in sim i get scared and bail out or go in the wrong direction of the trend. I need to understand how you are making decision based on MP.
02-12-2014, 01:04 PMelgaza26
@SignalTime I totally understand you and I give you credit for that, I remember when I was afraid from trades even with the sim, so you are on the right track my friend cause that shows you are taking it seriously and feel the fear that comes along with the trades even though its not real money.
Good good, so look at this pic and see the support we have on the 15m chart, do you know what it takes to break such a support????
do you know how much money is spent here?
do you think they won't protect their positions when price gets there, so all that and MP made the odds better for a long trade
OK here I'm saying it again, and please those who wanted a pdf guide, you should add that to your guide
The most important lines on your screen you should pay attention to are HORIZONTAL LINES and not just some what ever pivots kind of indicator generated, but one that you can identify as a cluster in the 15m or 60m and how much more so in the daily chart, those clusters are your best friends as they are going to act as trampoline most of the time, getting those levels with market profile confluence will give you an edge over most traders out there
I hope this is more clear now

I used to trade the stocks but will never go back again
3 reasons:

1 the leverage is incomparable, you get more for your money with futures
2 the spread is way too big to absorb in the stock unless you go to the index of course like the qqq
3 trading a company is risky as you're up against one individual company's portfolio that could change overnight and hence will not follow the index so today it's doing great and tomorrow it's worth 0

The only good thing I see in the stock is the commissions that is much lower than futures if you trade more than 1 contract, other wise if it's only 1 contract you're trading I don't see where you'd get the leverage trading stocks, unless you do your homework and invest in a company but that's already a different scope than us day traders
so enlighten me please

A day trader like myself do not want any kind of noise like news or inside information that could surprise you, all we look for are zigzags in the market, just give them to us all day long and we'll thank you
A day trader is usually a scalper and to scalp you want to rely on your indicators and market context, going to individual company changes the picture, we just love the index IT CAN NEVER BE 0

Good morning traders, there’s a great day ahead of us today, so let’s have fun with it
It doesn’t have to turn to hari kari right?

Guys you should be and feel happy cause I believe that you are in the right place to learn to become a day trader and with time and patience you will see the difference and progress, just give it time and practice and understand all that is being said here.

@ sojourner7 you asked how did we see weakness in the market, well that was not very hard to determine, you got to look at the bigger picture, we had an explosion to the up side for about 10p, and we came back to the same spot just as fast as we got there, and then we just chopped there for the rest of the day, then when the institutes wanted to go to the next level they went lower, that my friend does not show strength but weakness, so from that point and on you’d need to concentrate on shorts and be cautious with your longs
Now if you look at your Market Profile you’d notice how obvious it was that we are going to go to 1807.25, but I fell asleep last night and missed it
Now we are going south continuing the journey probably to 1798 area, and it’s not 8:30 EST yet
So heads up guys and look at the whole picture not just red green triangles

so the lesson to take from here, is there are many ways to approach the market, some are swingers some are scalpers and some are just watching, you need to decide what you feel more comfortable with and try to excel in it.
I told you yesterday, those who want to learn my system need to completely subject themselves to this methods without any thought of trying to make it better, you're not in that level yet to make it better, and if you were, it was your post we'd see here not mine.
so try first to make sense with what I'm doing here and then when you think you're ready try to fine tune it and if you did, I'd like very much to hear about it

Guys I want to clear a point here
if you didn't know about 23.25 that it was the high of yesterday PLEASE DON'T TRADE!!! you'll have some basic and fundamental learning to do and don't fool yourself you can cut it out with just red green signal, this is where the sharks are swimming freely and you are jumping head first in deep water, so please learn how to swim before you try swim on your back

Jane I want to tell you and everyone else here on this thread, you see how the market has a mind of it's own and when it happens, there's no telling how it's going to behave, relying on peach forks, diagonal lines, and Fibonacci levels WILL KILL YOU, I mean even Market Profile which is the swiss knife in trading doesn't always follow the rules so how can one still ignore the market and what it's telling us
guys, if you want to go to the next level in trading I really urge you to read all my posts on this thread and maybe only maybe you'll have a chance to understand what I do thoroughly, but one thing for sure, you will start a journey that will reward you big time, in time
I made only 2 trades today and I'm in my 3rd right now if I get stopped out at 25, I'd have a total of 19 points in 3 trades, this is the next level you all want to be in, these numbers are not a dream or fake I show this every day and show you just how many points you can make doing what I do
so the question is why are you still so stubborns trying to look for better signals? or better system?
I said so many times now, if you can't make money with these signals we have here, then my friend you won't make money with any system cause the market is liquid and changes it's mood more than a woman so do yourself a favor and try to do something with what is given to you here, at least here it comes with explanations

OK guys if you are not convinced yet I just feel sorry for you cause you have a long way to understand that one day you'll say "darn I should have listened"

Good luck to you all

@MarketDestroyer very true every word you wrote there
and I said you guys can learn few setups that are not based on Market Profile and I do show quite a few of them, my exits are almost all the time according to what Market Profile allows me to take from the market, but I wrote quite at the beginning that the beginner trader should not try to do what I do, it wont work well for you without the understanding of Market Profile, you should scalp for a point only and wait for the next setup to come, that's it, and we have here few setups that do not require Market Profile knowledge at all, if you guys read those posts you'd recognize them and they are easy to understand and apply, in the beginning it will be hard for you to apply cause you still don't have the confidence to go with it but if you practice enough you'd get the confidence and you'll see that making a point on each setup will give you more than you need to make this your source of income and a good one I must add.
so MarketDestroyer not only this is not disrespectful but quite true every word!!!

Are you guys doing something about it or just watching?
if you are trading the sim than click the button, don't trade with your eyes, it's not the same
and don't worry if you lose, you'll get sharpened as you practice, promise!!!

OK so onto the next guys, come on, I want to see your trades too now.
02-14-2014, 09:52 AMenzofox
Very good indicator, you can share Quotidiano
02-14-2014, 10:00 AMelgaza26
@Il Quotidiano Gratis nothing can give you a better picture than the ladder!!!
anyway don't be caught on indicators anymore, I do it and I don't use this indicator why make it more complicated?
what you have on this screen tells you all, you need to just learn it and understand it, this is the best way to trade, the more you look for indicators the less you'll learn and the less chances you'd have to really understand the market

Guys I know and understand where you stand, trust me I've been there, but only a guy like me who went through what you are going through can really tell you what is best for you
there are 2 kind of traders out there:
1) the one that could do away with 1 or 2 points a day and be happy with, not wanting to learn but just looking for the easy way to make a buck
2) the one who not just looking for the reward but also with the challenge that comes with it, he wants to know why the market goes where it goes and why it decided to reverse, this guy a point in the market is not satisfying cause it's not just the money but the knowledge that he craves for
which one are you?
I used to be #1, and then when the understanding came along I became #2 kind of a trader
and now I enjoy both worlds, I make that point and I have the challenge
don't give up, I told you it's not rocket science, yes there's what to learn but not that much trust me, it's all just repeating itself all the time and that little knowledge I have makes me a living with 6 figures a year, don't you think it's worth it?
don't settle for just #1 kind of trader go for the whole package, it's not that hard

anyway don't be caught on indicators anymore, I do it and I don't use this indicator why make it more complicated?
what you have on this screen tells you all, you need to just learn it and understand it, this is the best way to trade, the more you look for indicators the less you'll learn and the less chances you'd have to really understand the market

Guys I know and understand where you stand, trust me I've been there, but only a guy like me who went through what you are going through can really tell you what is best for you
there are 2 kind of traders out there:
1) the one that could do away with 1 or 2 points a day and be happy with, not wanting to learn but just looking for the easy way to make a buck
2) the one who not just looking for the reward but also with the challenge that comes with it, he wants to know why the market goes where it goes and why it decided to reverse, this guy a point in the market is not satisfying cause it's not just the money but the knowledge that he craves for
which one are you?
I used to be #1, and then when the understanding came along I became #2 kind of a trader
and now I enjoy both worlds, I make that point and I have the challenge
don't give up, I told you it's not rocket science, yes there's what to learn but not that much trust me, it's all just repeating itself all the time and that little knowledge I have makes me a living with 6 figures a year, don't you think it's worth it?
don't settle for just #1 kind of trader go for the whole package, it's not that hard

There it is, works like a charm every time
you see, this is not acquired by an indicator,but by learning market context
indicators will make your life easier if you understood market context
but could make your life like hell if you don't, so be careful guys, and don't look for shortcuts

Got me another 3.25tks on this trade
Guys I know you must think, how much guts does he have to go with 20 cars, it may sound a lot to you, but again to me it’s just another setup and another trade, when you’ll have the confidence that I have you’ll understand it and you too would add more contracts to setups you feel comfortable with

What you don’t see here is that I took a short with that trade at 31.50 hoping to make another point or so
02-14-2014, 10:49 AMelgaza26
well I dont want to risk shorting the market now so I got stopped taking only 3tks
OH well I dont want to fight the ladder, look what's going on there and you'll understand why it was so fast I got out

@sojourner7 ya well it could work as I said in the very beginning of this thread, that I didn't see as of yet an indicator that gives better signals than this one does, and with those signals alone your odds are already better then some other indicators, I don't know why other people who gave up on this strategy are looking for other indicators, I challenged everyone out there and said I want some one to come forward and show me a better indicator that gives better results than this one, but no one came as of yet and still they go to look for other indicators, this is beyond me
and it only tells me that people are not really looking for an indicators but for a miracle instead, I know people who pay money for such signals, no joke and here they have it and still go and look for something else
and trust me if they did find something better, they'd still look for something else, cause the problem is not the signals they are just great
but it's the trader him/her self that wants a heavenly voice to whisper to him "Take that f..n trade already you moron"

Are you guys doing something about it or just watching?
if you are trading the sim than click the button, don't trade with your eyes, it's not the same
and don't worry if you lose, you'll get sharpened as you practice, promise!!!

BUT you see, you need to act upon price action not predictions!!!
remember that it will make you or break you

I don't know if you are trading and even with the sim but the 2tks RSI was +%90 so what did you want more than a signal?
if this is not the holly grail of signal than I don't know what is, you might as well go and look for indicators
cause this setup was not just holly grail and a holly sh.t but also a G-D sent setup from heaven, a gift that don't happen every day
I don't know what else to say if you didn't take it

The 15m chart had also +%80 RSI and a divergence, so if no one looked and noticed all those signals, then....
I really don't know what to say to you than.

OK traders I hope you've benefited from today like some of us did as we were told here today

There are basic points to know in the market that could make you a killing kinda of money not based on Market Profile, this trade was not based on Market Profile at all, not the entry and not the exit and I showed this setup SO MANY TIMES already on this thread
There are other setup that are not based on Market Profile I show here as entry and as for exit you could just trail it down or scalp for a point or so
The point is this: if you want money, go find a job some where outside, if you want to learn this job than do as I told you all over this place and learn those basic setups and practice them, you'd be able to make at least 5 points a day, I think every one could be happy with that
those who are looking for money only will not find it here even with 700gig data worth of indicators, but only those who are serious and understand what I say, that to make money here is not based on indicators at all

and once again it's not rocket science, not that hard to do what I do, it's just looks hard but the amount of knowledge needed for this is not that much and pretty much the same all the time

now it's up to you to practice and become someone or try some more "better" indicators that will give you the confidence to trade (ya right!)

Offline Sojourner

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Re: Gist O' Elgaza
« Reply #9 on: March 18, 2014, 11:33:04 PM »
defintly this sytem is the same to others i alredy probe youcan earn alof money the prblme is when you liking for a holly grail
UNDERSTUND TRADING IS MATH+ Spectancy strategy there sis more complicated variables aroun us in the wolrs has been solved with MATH and computers

in trading ther is only 2 instances Buy or Sell the key is know where is the correct state. Normaly for me im enfing some years of reasearche and get the conclution im confortable with any system follwing smartmoney volumen only. im defintly a little ant behind a big bear or bull always
02-16-2014, 02:23 AMelgaza26
Hello everyone I was asked to make some sort of a guide for you guys, now as this kind of a guide is very hard to do and may take very long time and many pages of examples I did make a very short guide for points I think you should all read and take it in really seriously if you want to make it in as a professional day trader or even just a successful day trader

I point some mental obstacles and some reality check you should all be doing I do explain about the kind of setup you should be looking for and what kind of approach you should have when you want to be a day trader

I think this short guide is not the kind of guide that will tell you where and when to click the mouse but more like a guide that will open your eyes and let you see and realize what is the next step you need to do and what to look for in your chart when you come to trade

I'm sure that this short guide will benefit a lot of wannabe traders and to some it will just be a short reading material and they will do what they usually do anyway which is browsing sites and searching instead of trading.

this guide is aimed mostly for the newbies and I think they might have the biggest chance to become day traders quickly as they don't come with pride and previous knowledge trying to smart out someone better than them which could be an obstacle in their learning process.

it could benefit others who come with open mind understanding that there are traders better than them and some who they could learn a thing or two, if not they could at least try it and see how their trading will get better chances and better trades
and yet having an open mind to allow this approach to the market to make them some nice income that no one would be ashamed of.

so enjoy it and I hope you'll benefit from it and start your journey as a professional day trader if you only agree to the content I give you in this guide

Good Luck to you all, and wishing you all a quick and successful learning curve in this business.


@DimiK you know not everyone will agree with us on this, I mean it's a bit strange that a newbie or the inexperience will not take it as you do and will still look for other indicators but if a doctor or a mechanic or any other kind of profession people would say something they'd take it no questions asked, but when it comes to trading where the only thing you need to know is up or down everyone has their own opinion and they all think they have the same chance as the professionals or at least that the professional are just lucky out there.

the market is not a gamble for the professional trader, but it is for most trader as they don't have a good strategy and that's what holds back most traders thinking what else could I learn from a zigzag I see myself on the screen, how much more can the professional know more than me? and then you all know what happens, they go look for indicators instead of learning what's really important
I'm not going to convince everyone and it's OK but those like you who may understand that traders like me were exactly where you are and were not born as a professional traders that made it so far just because we swallowed our pride and were open minded to learn and accept the fact that we don't know anything about the market, those have a chance to learn something quickly but those who persistently stuck on their systems that don't make them money but still using it cause sometimes it's right will lose their account so fast they'd never have a chance to make it in this business

anyway I said this guide will not give you the kind of info as to when to click the buy or sell as I give you on this thread but the information as to what to look at and what you first need to realize before you even sit at the chair and come to trade.

I hated to think that there's more than the technical side of it but today I understand better that your mentality is your biggest enemy in this business

I have friends that have a strategy that gives you only %60 winners, and you could only dream to make the kind of money they make, cause they use a strategy that make a lot of $$ on the %60 and small loser on the other %40 the math that's left to do to know how much they make is crazy.

02-17-2014, 09:57 AMelgaza26
thery're gonna fight over this tick, cause some think it's a good value to buy and some are just taking a chance to short from the top so I hope it wont take too long for them to decide over this tick.
02-17-2014, 09:59 AMelgaza26
but I think the bears are gonna win, at least I hope so
02-17-2014, 10:04 AMelgaza26
You see traders, this is fear and greed that can not be measured by an indicator
This is what the signals traders are lacking, the percentage of their winning trades will be less than those who watch the tape and market contexts
We are sitting at the front of the bus and they are sitting at the back looking at the side view while we look from the driver points of view
02-17-2014, 10:07 AMelgaza26
See now buyers are starting to come in
Volume is really low today as expected so I filtered my ladder to 10cars only as I want to see more action on my ladder, this is definitely not your usual day.
02-17-2014, 10:11 AMelgaza26
37.75 again, come on now a couple more tick down please
02-17-2014, 10:14 AMelgaza26
we should see now the 36.5 soon most likely
02-17-2014, 10:17 AMelgaza26
But you saw what I meant, the fight over 37.75 was long, and then once it broke it went 3tks down much much easier, sellers felt more comfortable shorting this than shorting at 37.75, this is market context and tape reading guys, I just always feel sorry for all those traders who are so stuck on their lines indicators to rely on, as they may be good some time and some times they may not, but this my friends can not be beat
02-17-2014, 10:34 AMelgaza26
Guys I want to clear a point here.
I'm not putting down ANY indicator out there, remember that, let a lone a trader, cause every indicator represents the market state at a given point in time, and they all work we just have to know how to work with them

But what I'm saying is, working with peach forks Fibonacci lines WILL NOT GIVE YOU THE CONFIDENCE at all working at days like this, and I don't think those traders will be able to show you trades made today with such indicators, as they would be just too scared cause they know it and you know it that it doesn't work all the time and how much more so on days like this

This system I'm using works all the time in any market and any kind of day let it be a holiday or a low volume day, market moves and sentiments don't change!!!

it is up to you traders to chose what kind of strategy you feel more comfortable with and THEY ARE ALL GOOD I'm not putting anything down, you just have to do your homework as to how to work with them.

there are those traders who don't want to learn much and would resort to Fibonacci lines as it's really easy to apply and get those levels instantaneously and just hope and cross their fingers that it will react when it comes there, and it will some times and there are those who just want to go to the next level and are not happy enough with being an average trader, those will have a challenge and enjoyment from this great business
I can't tell you how much I love this job, and wish it for all of you just as well.

I don't want to intrude here but IMHO in elgaza strategy much important is to see on the ladder a large orders from institutions where small differences should not play a role...
02-17-2014, 12:33 PMelgaza26
@samsammy you have to understand what the COT is really representing here, as this is not the real Commitment Of Traders, this is a Delta of a retracement on the current bar, now on the Market Balance we have an extra bar on the right side that gives us something similar to that
But I don't really use it, this is good for those who use the ladder only, I look at each tick on the ladder and I see what the institutions are doing there on each tick, what do I care what the COT is, how can it help me
than there is another very important aspect in the ladder that the novice will not pay attention to and it's what print came first
if you see on the ladder 1000 sellers on 38 lets say and later on 700 on the buyers, you can't give them the same weight of importance the latest print will weigh down the last one cause of a couple reasons
A: the last print is the volume that is pushing the market, and what happened in the past is dead.
B: we don't really know who is the last print, it could very well be the same 1000 sellers we saw before that are now becoming buyers

So the novice will see 1000 against 700 and will think, "OH well I got more sellers than buyers, market must be going down"
this is not always the case as we see everyday all the time, but it could turn around just as quick

so the COT is good for when you look at the screen as a general trend and what kind of weight you should give the current bar but really, what I look for is each tick and what has happened NOW is what's important

did you not see bars that have more sellers and price went up? we see this all the time the reason is those buyers could be the same sellers.

I hope this info helps you and others as this was a great question and I don't know why I didn't think of explaining it before

Hey anyone took a trade yet?
I mean even with your sim account

if you didn't than I guess you missed the whole point I was stressing on, trading with your eyes won't cut it.
you got to practice and if you don't or didn't yet, your still very far from becoming a trader
come on guys, you really got to trust me here, I was exactly where you are, I had more indicators than egaalh posted trust me, I tried them all those days
I know how you feel and how you think of yourself as a trader, take initiative and start trading with those setups you see here, it's not costing you anything

OK guys back to work, well at least for me, no one else is posting!
02-17-2014, 08:29 PMnewbie0101
Thanks duh on my part appreciate it--was not trying to be difficult just want to be able to follow along with same charts--will ck out and post back
Thanks again
02-17-2014, 08:30 PMelgaza26
BTW this is an important post here guys and you should really remember this post.

When I was practicing and loading Market Replay data, I was always practicing on days like this with low volume and very small range, as these are the hardest days to trade, I did not want to practice on trending days as it's no big deal to make money on such days
I was looking for the smallest bars on the daily chart and practice on those days, I just knew that if I can cut it on such days I can cut it on any day, this is how I built myself as a day trader didn't look for a short cut or some indicators that will make me feel better
but realized that enough with the games and I got to make money
so long that I was looking for indicators I was not making money and I'm sure you know very well what I'm talking about.
guys lets face it and PLEASE be true with yourself, if any of you was to make some serious money in trading, you wouldn't have time to spend on this thread or this site all together,you'd be happy with what you make and concentrate at bettering yourself, you wouldn't have the time to waste here, I only came a month ago with this thread showing you something different than an educated indicator

the wise one amongst you will take every word of mine and engrave it in your mind, it will make your journey much faster and those who still need to feed their ego, may find themselves only feeding their ego and not themselves.

OK enough said

02-18-2014, 08:14 AMelgaza26
OH and one more thing, go to your 15m and 60m charts and put the frigging alert on the D3SpotterRSI on for haven sakes maybe this should wake you up when they come and if I were you I'd change the alert sound to something like school bell so that you should really hear it!!!
all that stuff about indicators setup should be after you've taken the trade not before

again sorry to be rude like that but this is what sometimes gets your asses up sometimes, this is how I was as I remember myself

OK don't hate me!

Seriously guys now listen carefully, if I were in your shoes right now, I'd really concentrate on the N@vi and the D3SpotterRSI indicators ONLY from all those indicators you guys are looking at, you have so many opportunities in a week let alone in a month that those signals alone could make this your daily job
If you really like to be a trader get your head out of your ... and think seriously now you don't really need to make the kind of trading I'm doing here to make a great living in this business, you just need 2 trades a day or 1 trade that makes you 2 points and this could be your daily job for life as no one is going to fire you (except for your wife if you don't provide)
the problem with most traders or wannabe traders is that they for some reason want to take the whole cake and every possible trade they see on their screen, well guys really?
you concentrate on those 2 indicators, take setups that you know are almost to be guaranteed and you'll see how your confidence will fly to the sky
practice on those 2 indicators especially on the bigger time frame and your trading will generate you about %90 winners, this should be enough to boost your confidence and your account
and when your account has grown on these simple setups you will allow yourself to broaden your style and risks

if I was to personally teach you how to trade and you were next to me every day I'd forbid you to trade anything but those two indicators and only on the bigger time frame until you yourself got convinced, and then you'd really thank me

OK guys I think I've given you enough on your head this morning now go and make money!!!

Offline Sojourner

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Re: Gist O' Elgaza
« Reply #10 on: March 19, 2014, 01:14:51 AM »
OK got to go for a short while but pay attention cause according to the daily chart it's just not showing me much strength in the market and we could see some serious down fall
I'm gonna pay attention to the bears today, but if I see buyers coming in than the picture changes of course as you heard me saying it many times, we trade according to price actions not some predicted levels on fibs or peach forks remember that and you'll save some serious $$ from your account, or don't and you'll agree with me one day.

Traders, we had a good day today, or some of us had a good trading day.
I really enjoyed seeing traders taking actions and posting their trades
guys this is how you learn how to walk, eventually you'd be running
those who are not practicing are one day farther from becoming a professional traders
those of you who applied all those screens and now trading out of them feel what it is to make a calculated trade
and we saw some professional trades done today by them, can you imagine how they are going to be in a month from now
can you imagine two months from now, I don't think you can!!!
I'm glad that my work here are helping to some of you, it makes me feel good really!
and the most important guys and those who started to trade, think about the fact that you don't have to look at so many other indicators and yet we get so many setups in a day to take our cuts, this is power

guys when u have CONFIDENCE !! you dont have these Emotions u just dont care... its part of the busines if u stopped out or missed a trade. Its just a Trade.
02-19-2014, 07:59 AMelgaza26
Good Morning traders
wow it's so different to come back and see some great posts here, guys you are on your way, I just know that, and you are making it the short way to get there, no doubt about that
so we broke the low of the last couple days, and I said yesterday that I see weakness in the daily chart and was anticipating some bigger movements to the down side, well here it is as expected, this my friends is not coming from Market Profile reading but just by opening the daily chart to the whole screen and seeing what the graph is telling us, you'll get used to that at one point.

what I like here very much is that we got 2 divergences on the 15m chart so heads up and pay attention to everything
OK heads up guys and let's make some money today!!!

sojourner7 I advise you and all the beginners to start scalping for a point every trade and not more, cause when you're going to open you real account, you will not start trading like that, you are going to need to build your account first and only than when you made enough to lose you'd be able to go for bigger bites in the market
but if you continue to take more than a point at this stage it will be very hard for you to change your style when you start with real money
and you haven't yet experienced the adrenalin and fear that comes when trading live
I know it's exciting and feels great to take as much as you can, but this is not a game here, and it's a very dangerous business so we need to take it one step at a time and not jump head first
you'll see that if you practice taking one point each time you'd basically have a strategy for emergency situations when you've lost some money and you'd need to recover it safely, this style is a necessity and will be your life saver strategy to resort to when time is tough
but if you don't practice it, you're schooling will be longer here, trust me I so know what I'm talking about and every thing I say is from painful experience that I don't want you guys to go through if you don't have to and want you to learn from someone else his mistakes and lessons.
this tip will make you a day trader so much faster than you know it

DimiK as seen on my and other traders posts here we too have the volume indicator right between the rsi and cci so I'm' not too sure what you mean you've added, I can't work without volume bars, I've been saying it for a thousand time here that volume precedes price so this is a must indicator for ANY trader, professional or beginner
now with regards to your other indicators, those delta indicators you have there, I know exactly what they are and used to use them at one point, but then I've realized that the ladder gave me more and better market sentiments than those other you're using, you might want to consider using it and I give you my word you won't turn back on it.
I don't know if you follow this thread but if you don't I advise you to read it and follow I believe your trading experience will gain and be better, but hey you've got other traders here to prove it so I don't have to convince anyone anymore, today we have a proof of that, lol

I belive sogorner7 did that already, he collected all the material on this thread and made a 2 files of it.

now if you think that I'm gonna do YOUR HOMEWORK than you are mistaken, I'm not making a penny on this, and I'm basically giving you a gift here, a gift of such knowledge and tips whether technical or mental tips that I think much more important than the technical, that you'd have to pay so much for it outside

now I said before don't expect some one to click the button for you, you need to go and read THE WHOLE THREAD if it needs to and make your own file and learn as much as you can from it. don't expect someone else make it for you, you all see how much money I make in this business, this is not a joke I make thousands of dollars every single day, if you think it's something you'd like to make and you think that my approach to the market is something you can connect with than I think its worth your time to invest and read this post from a to z

and all this is said in a good spirit and I'm doing you a favor actually that I'm not making a short cut for you, this is the only way I know of that you could actually become a professional trader and not just another some odd material to read about trading

and to prove my point and that this kind of thinking is the way the institutions are thinking as well, just look at your ladder what is happening on these ticks
we did not see this on the upper ticks but only now when we are just before the POR.

they know that once we get to POR they are gonna have to bail out and rethink their strategy, but guess what
I was smarter than them, and I shorted 44 with 20 cars cause I don't want to eat gruel I want a normal breakfast this time.
I'm sure the Missus wouldn't mind ha?
02-19-2014, 11:09 AMthedriver
Originally Posted by elgaza26  View Post
and to prove my point and that this kind of thinking is the way the institutions are thinking as well, just look at your ladder what is happening on these ticks
we did not see this on the upper ticks but only now when we are just before the POR.

they know that once we get to POR they are gonna have to bail out and rethink their strategy, but guess what
I was smarter than them, and I shorted 44 with 20 cars cause I don't want to eat gruel I want a normal breakfast this time.
I'm sure the Missus wouldn't mind ha?
what's th POR?? sorry for my ignorance
02-19-2014, 11:12 AMrhv
It is a low volume area. Also known as a Point of Rejection. In Market Profile you have areas of acceptance and rejection. Acceptance would be like high volume.
02-19-2014, 11:12 AMTraderbeauty
Elgaza- i fully understand- but technically since the 6 now is red we should look for shorts ,
So when will you take another long ? only when the 6 chart turns back to yellow ?
02-19-2014, 11:12 AMelgaza26
thedriver this is not ignorance, we are all learning here, myself included.
remember there is no such thing as question but sometime you might get a answer.

POR is Point Of Rejection

OK now look how we are getting some momentum see.
02-19-2014, 11:15 AMthedriver
Originally Posted by rhv  View Post
It is a low volume area. Also known as a Point of Rejection. In Market Profile you have areas of acceptance and rejection. Acceptance would be like high volume.
thnk you i understand MP teory , POR=LVN with MD
we can see this HVN (high volume node) and LVN (low vol...) very well
02-19-2014, 11:16 AMelgaza26
Jane we need to look at the ladder first as to see what the big guys are thinking, you will get your market reading way before the signal actually shows up.
and if we get our signal on the 6tks, than understand that those signals are not a reversal signals, they are pivots, just like the fibs or anything else, and they may be violated just like any other pivot so a trader should take that into consideration and not just click blindly on the buy or sell when a signal comes up, but check before that what the market is telling us and where are we in terms of Market profile and are we going to bounce from that pivot or not, this we could get a confirmation usually from the ladder or the OFA

Let me tell you something guys/girls one day when you've practiced enough, you will not fear this anymore but quite the contrary, you will love this job so much that it will probably envelope your life all the time and everywhere you go, you will dream about it and you'll have some hard time taking it out of your head.
this my friends will be your best friend and it will take care of you, if you just respect it enough.
02-19-2014, 12:58 PMTraderbeauty
why did you long down there ?
there was no divergence- true - the rsi was very low justifying a long - we did get a signal on the 2 but what caused you to long there other than these 2 and the fact that we are a tick away from the low of day?
02-19-2014, 12:59 PMelgaza26
see nothing almost on the ladder, lots of scared money here, and this can not be measured by any indicator out there, this is the edge we have over any other kind of system out there that don't use the tools we do in here.

Don't think the just because the banks have so much money they're not afraid, they are more afraid of us, cause if a trader there is going to lose the bank some money, he will find himself out of a job, I know cause I had some friends trading for the banks. so they are making in their pants right now.
and our job is to realize these moments and basically get in their shoes and think like them, or even better than them!!!

So traders you see how it's done here day in day out with SO MANY opportunities to take our cut in the market, PLEASE do yourself a favor and stop looking around for more indicators cause it's not what you're really missing in your trading experience, anyway I'm not going to repeat this now, cause I think I've stressed this point so much that for those who took it in will benefit and those who didn't, it's not going to help anyway

4.25 points for me today and I'm only taking 1 point or less profit. =)
I want every one to read this, cause the if you can make that safely everyday, you don't need more than that
and we are talking about a newbie that is using only the indicators we have here, and he is a proof to you all that the holy grail is not the indicator but the strategy, learn from him and do your self a favor and practice with those indicators
you definitely don't need anymore and if you've added than you'd really be taking off from your better process or decision
you see how he practice and he has a positive account for a beginner, you don't understand traders that this is rare and almost impossible out there to be like that so fast.
He is not trying to smart out this system and make it better by other indicators but he is concentrated on what he has and getting better and better with what he does, I guaranty you that in 30 days he will not be the same trader he is today, mark my words and you'll see the kind of trades he will post at the end of March here on this forum.

guys I want to explain something very very important that only the very experience traders would agree with me here.

I had some messages from almost a dozen traders here, that said that they wanted to hear less about the mentality tips and more of the setup tips and explanations.

you have no idea how much I understand you and how much I remember myself saying the exact same thing to my teacher if I could only tape myself back than and let you hear it now, you'd listen to yourself saying that same thing.

but today now that I'm where I am and you are still where you are, I can tell you with all my heart that the biggest part in trading is not the technical side of it it's the mentality part

remember my words, your biggest enemy in trading is YOU and the technical side and all the setups are such a small factor in this equation
trust me I know very well that you wont agree with me or most of you and I don't blame you cause I didn't agree with this back than, but again for those of you who already convinced that I'm better than them and know just a little bit more than you, those will take my words even though they are hard to understand right now and work on all those mental tips I've given you cause if you did, the technical part will be like a breeze for you to tackle, but if you didn't than even the best setups in the world with the best indicators you might think you're using won't help you much with dealings with so many things about your fear, greed, discipline and so many things I talk about here.

Gosh just trust me on that.

Now I got a PM from a member here asking me how do I have so much guts to trade 20cars

I already answer that on this thread so many times already and I said when you master a setup to a point that you don't even feel the adrenalin or any fear, when it becomes a statistic trade then the amount of cars will not make a difference in your trading as it's just another day
and I did advice to add more contracts on setups you've mastered as to compensate for those risky trades you avoid

I hope you understand that and I did say yesterday that what I look at in my trading is how many trades I made and how many points I got.
the money part is not as important anymore as it was in the begining.
02-21-2014, 11:47 AMelgaza26
Jane I don't know which ladder you use but all my numbers on the ladder is in hundreds or the thousands as I filter all trades under 200 so how could it be 10ths
although after market hours I do reduce it to 50, 20 or even 10 so to not to have an empty ladder.
02-21-2014, 11:53 AMelgaza26
OK guys be careful from long at this time cause even those bankers traders have to eat lunch and now it's lunch time so they usually let their apprentice to trade for them until they come back so I don't expect much action now to the North but probably more South so heads up cause it's gonna be some chop now, this is probably the time to do what you look for indicators on other threads. =))
02-21-2014, 11:59 AMTraderbeauty
Elgaza- what i mean is- if i see on the ladder-) the one you filter by 200 lots-)- lets say 282 sellers- how many lots does that mean ? 2820 or 28,200 ?
by your answer i assume 28,200 ?
02-21-2014, 12:03 PMelgaza26
Nope it means 282 that came in one order as you cant devide it and get 2 orders from this number but if it was 402 than it could mean 2 orders of 200 and 202 on that tick but it's alway 200 plus what ever that order was, OK?
02-21-2014, 12:10 PMTraderbeauty
got it- but i dont understand something- during that time the entire volume was 2000 per minute so why would 200 lots influence that much ?
or you pay attention to these trades just because of the fact that they are initiated by big money guys that suppose to know what they are doing ?
bottom line what i am asking is why should few hundreds lots effect the market while only being 10% of the volume at that time ?
02-21-2014, 12:22 PMelgaza26
You are not looking at tape reading properly Jane
when you see big prints like 2000 or 1000 or alike that means that the banks are taking a position for long or short
But when you see the hundreds coming to play that could also be the banks collecting for their next move so while 100 prints are not as significant as 1000, but a few of them one after the other will move the market as it's those guys again collecting on this level until they dump it on us again later on.
I know I wish I could tell which are the banks on the 100 lots but we can't there no such instruments in futures to give you that info, you'd need to sit in the pit and pay $$$$$ for that kind of info, so I just have to be happy that those 200 lots and higher are definitely institutes coming to play and this kind of info I get for free from my ladder
this is the best I can get, as anything lower than that is too noisy for me and I don't get the proper market sentiments and I think you've already felt it watching the ladder didn't you?

Of course I have what do you think?
But trading with the ladder only is another approach and it is not for me!
it works but doesn't fit my style of trading, I like mine much better than that
the reason is trading the ladder is based on the current bar mostly and again it's like watching a picture from 2" away, as you're missing the whole picture, it's best to use when you are ready to fire up and for fine tuning your entry you'd use the OFA or the ladder not so filtered but again this is not my style
and one should practice it and excel in it as it does work

Offline Sojourner

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Re: Gist O' Elgaza
« Reply #11 on: March 30, 2014, 11:12:43 PM »
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« Last Edit: March 30, 2014, 11:30:06 PM by THE GUY »

Offline Sojourner

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Offline Sojourner

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Re: Gist O' Elgaza
« Reply #13 on: March 30, 2014, 11:35:19 PM »

Offline Sojourner

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Re: Gist O' Elgaza
« Reply #14 on: March 30, 2014, 11:44:00 PM »