General Trading Chat

[wisp]

Yes any system can be traded more intelligently...that is where experienced traders score. I will give you following example .

We know that we are shorting the VPL ...now imagine that we are in uptrend and the upmove shows tiring out signs...now we get a minor downtrend....at some point it exhausts and we get a minor uptrend....making VPH....now we make a lower VPH....so in the new minor uptrend,the moment a mpl is cracked, we have what is known as likely visual downtrend....so instead of waiting for VPL to crack,we start short trade much higher with a small stop of mph.....method will not tell you this and traders keep waiting for crack of VPL and visual downtrend is confirmed...and enter too late...

Are you all with me ? This is how a good trader works with the method.

ST

Yes Da, thanks a lot, this is very clear to me and I use this in live trading. Its the sideways where I am still struggling. I am able to id it, but when to take an entry once sideways starts is the problem.

 

[Smart_trade]

Examine all your charts posted in light of the above post....do you need VERL ?

ST

 

[Smart_trade]

Yes Da, thanks a lot, this is very clear to me and I use this in live trading. Its the sideways where I am still struggling. I am able to id it, but when to take an entry once sideways starts is the problem.

In sideways use bands or sell at upper boundary and buy at lower boundary.Use failures at boundaries....ITF is not for sideways market....you will not get a plug and play method for sideways and trends...Use Pratap's bands if you like that.It is a competent method in bands but quickly alerts us when trends start.

ST

 

[TracerBullet]

Examine all your charts posted in light of the above post....do you need VERL ?

ST

But these visual erl are not for short entry. We will enter short when price pivots below Visual Pivot High 2(Not shown). Now we are short, price breaks and holds below VPL 1 and we are looking to add or already have adds.

But now minor trend down weakens and reverses, minor trend up shows some strength by breaking back above VPL1. Is this significant?
Is our bias still short above VPL1. The confusion arose because VPL1 is not VP of latest VT Down ( but if we consider upmove as a complex pullback/lower degree trend it looks more significant ).

sry for repeating, maybe you already answered for this question but i think that maybe you think i am asking verl for entry short ...

Edit - Better diagram showing up move, red is minor trend up that breaks back above VPL1

 

[Smart_trade]

But these visual erl are not for short entry. We will enter short when price pivots below Visual Pivot High 2(Not shown). Now we are short, price breaks and holds below VPL 1 and we are looking to add or already have adds.

But now minor trend down weakens and reverses, minor trend up shows some strength by breaking back above VPL1. Is this significant?
Is our bias still short above VPL1. The confusion arose because VPL1 is not VP of latest VT Down ( but if we consider upmove as a complex pullback/lower degree trend it looks more significant ).

sry for repeating, maybe you already answered for this question but i think that maybe you think i am asking verl for entry short ...

Edit - Better diagram showing up move, red is minor trend up that breaks back above VPL1

Trends can always change.If we pivot above ERL 1 then above that pivot we go long. You are expecting definitive trades.....there is nothing definitive in trading...it is all about probabilities.Above pivot at VERL 1 we are not in short bias...we are in long bias.

ST

 

[vivektrader]

Trends can always change.If we pivot above ERL 1 then above that pivot we go long. You are expecting definitive trades.....there is nothing definitive in trading...it is all about probabilities.Above pivot at VERL 1 we are not in short bias...we are in long bias.

ST

Understood that we should be in long bias, but are you willing to take the first long trade or would want to wait for the retest of the low.
Edit: you would probably wait for a higher VPL as you explained in uptrend example. So in essence both the concepts are conveying the same thing.

 

[TracerBullet]

Trends can always change.If we pivot above ERL 1 then above that pivot we go long. You are expecting definitive trades.....there is nothing definitive in trading...it is all about probabilities.Above pivot at VERL 1 we are not in short bias...we are in long bias.

ST

da, We will already get out when minor uptrend starts before it breaks above VERL1. My question was on the validity of VERL1 and now its clear.

As last example for this from SBI chart below.
Price has resumed Visual downtrend after lower degree uptrend.
In this case, we are short. VPL5 is initially our Visual ERL below which bias remains short. Now an earlier VPL breaks down in last few bars - VPL1 which was the visual low before lower degree uptrend started.

Here, Once price move continues - will Visual ERL of downtrend move from VPL5 to VPL1?
thank you

Understood that we should be in long bias, but are you willing to take the first long trade or would want to wait for the retest of the low.
Edit: you would probably wait for a higher VPL as you explained in uptrend example. So in essence both the concepts are conveying the same thing.

Once price is above ERL - Long above pivot break.

 

[Trader_PK]

In sideways use bands or sell at upper boundary and buy at lower boundary.Use failures at boundaries....ITF is not for sideways market....you will not get a plug and play method for sideways and trends...Use Pratap's bands if you like that.It is a competent method in bands but quickly alerts us when trends start.

ST

to grasp all these ST da.... one should have at aleast 3 year of screen time...95 % trader give up in these 3 year due to various reason

 

[Smart_trade]

Understood that we should be in long bias, but are you willing to take the first long trade or would want to wait for the retest of the low.
Edit: you would probably wait for a higher VPL as you explained in uptrend example. So in essence both the concepts are conveying the same thing.

Pivot above VERL 1 above that we go long. I would like to see some basing action with higher pivot low and then go long above ph...retest of low may not happen at all and market runs up.

ST

 

[Smart_trade]

to grasp all these ST da.... one should have at aleast 3 year of screen time...95 % trader give up in these 3 year due to various reason

Yes....profitable trading is not easy. But then one can go for some easy stuff like camerilla pivots etc if you can trade it profitably.or go for some mech syst like super trader and be happy with mediocre performance of the system.

It needs years of practice.

ST