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Hi Steve,
Thanks for the kind comments about my work. I haven't looked at all of your videos yet, but I realize that taping and then reviewing your trades is a great self-help tool, which I need to start doing soon. The brain is more effective at remembering pictures than any other sensory medium. I do enjoy your work and comments.
One of the things that I am working on is to first analyze the daily and 60 minute charts looking for key support / resistance or pivot points, such as actual turning points in the market or Fibonacci levels. Then pay attention to how the market reacts to these points. I think that you will find that divergences are more relevant at these points. This is something that Linda Raschke tried to drill into my head a few years ago, but I am just now beginning to understand what she was trying to tell me.
I don't have the book yet, but I will also be reviewing "The Nature of Trends" by Ray Barros. I'm anticipating that I will be able to apply his work and Linda's to improve my ability to analyze the longer term patterns in the market.
I am also spending a lot of time understanding the psychology of learning through the work of Dr. Steenbarger and Dr. Ericsson and others. Some fellow traders said years ago that it takes 10,000 trades to become good at this. I then brushed their comments off as nonsense, but now realize that they were right. People don't realize that Einstein took 12 years trying to figure out the paradox of space, time, speed and light. Einstein was extremely intelligent, but the real difference between Einstein and the rest of us is that he was willing to spend 12 years trying to solve a puzzle and not give up trying. Ten years, 10,000 hours or 10,000 trades are numbers that keep showing up in the process of learning.
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Hi,
That's a great idea for a learning tool; do pass along the URL for the page. Thanks!
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Great lessons today: Very profound and cool chats. Thanks
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Hello Steve,
You’ve taught me a shitload in the last two days.
Plus +8 for the day is an accomplishment for me!
Thanks,
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Here are your 906’s.
That Chrystal ball of yours quite a gizmo!
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SSK,
Long story short, my partner (separate accounts but on phone together, worked together at big company during layoffs) and I have been studying and trading for 1 year. We started with moving averages, etc. with no success. We always study, test, and look for objective rules. Have read Tharp, Covel, and others. We understand risk to reward - keeping losses small relative to winners - careful not to risk too much of our trading capital, etc. (Or else we wouldn't have lasted this long.)
About 3 months ago I found IOAMT and MarketDelta by searching for "support and resistance" ideas. We both downloaded the Steidelmayer and Jones free books re: auction market theory. We have MDelta. I subscribed to IOAMT for the free week or whatever. I even remember seeing "SSK" comments during the forum.
We did not find Duryea to be instructive. He seemed to be making immediate decisions based on 5-reversal but not really mentioning market profile theory. He also didn't do well the several days we listened in - got caught in a scaling for huge loss and my partner said, "enough." Maybe that was bad luck.
Sorry so long of an email! Bottom line: We are running out of time to get this going in the right direction. I found your web-site last night doing some more google searching. I was impressed by your snippet reports (wow). I'm seeing that you are all over it again this morning. Congrats. Your willingness to share this free is amazing. We noticed you have "methodology.. market profile, volume at price, and 5 tick. You also mention swing and day - but the snippets appear to be day. We need to be day based on avail capital.
What we're struggling with is whether to responsively trade or initiate. We've probably spent too much time in the weeds as opposed to the forest. Because of prior losses we have probably kept stops too tight and taken profits too quickly - but it's usually because we don't have enough confidence in our trade.
Of the three methodologies you mention, which would you suggest we focus on? Any other advice will be very much appreciated. I will continue looking through your site today and follow your reading advice links, etc.
Thanks for anything!
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Great; I think you're offering quite a nice example yourself--
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One of the greatest things you’ve helped me with is letting go of the neurotic thought patterns: Just by you being you and modeling positive and happy emotions everyday. Thanks
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I was sniffing around on Twitter to see who’s following brett and who they follow. A bunch of people reference http://www.eminiaddict.com/
I watched his videos and he’s a bunch of shit compared to you. All he talks about is the 50% retracements and pivots. His site is fancy and slick, however.
I still have yet to find anybody who talks trading and market structure better than you. _____________________________
Nice charts....pre market already crazy.
Hi SSK
Ran the video last night. I heard the audio but couldn't get the video. I think
the key to yesterday was the failure to take out A period high then the probabilities
were down after that. Of course I covered my 27.50 short at 23.50 lol then took a
long nap. A lot of muck and chop in the teens then finally released.
Liked the audio, in fact like the whole concept, you may be on to something.
Im watching video now AWESOME already learning things. My buddies are all having connection problems as well and they have esig
I agree good stuff, it really gives a nice complement to snippets plus I'm a visual person anyway.
Hey Dude, it’s unbelievable that you’re helping me out. You are so dam good at trading that I can’t believe it. If I were an artist, it would be like having Van Gogh calling me.
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Hello SSK,
Just came upon your site, heard about from Brett Steenbarger’s Traderfeed. Your videos are very interesting and you and I share a very similar trading style although you focus on volume analysis more than I do. What do you use to film your trading trading screens? Do you have a camera pointing at your monitor or do you use software? What about editing? I think what you’re doing is great and think I should do the same for my trading. Will definitely be checking your website often.
Thanks and keep up the great work.
Hi Steve,
Over the last few days I've been checking out your daily snippets just out of interest to see how other traders are approaching the market. I got your e-mail address from the note you left globetrader from the May 13th comments on Traderfeed.
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First of all let me congratulate you on the very good and highly consistent trading results. It's a tough business but you seem to be doing quite well.
The real-time trading videos are, in a word, fantastic.
Your narration is dead on. A marvelous resource for
those starting out ~ and supposedly experienced.
Great to find this on Brett's site. I even like the
soundtrack.
As it happens, I don't trade this way. I build mathematical
models that return gates: -1, 0, +1. But what does it
matter as that's merely personal style? We're doing the
same thing ~ even responding to the same stimuli.
Very interesting site. Good show!
I'm the fellow who posted "losing intelligently" on
TraderFeed.
Best wishes.
Hi Steve,
Good job today coming back from quite the drawdown. Was a tough day to trade and so I stood on the sidelines for most of the session. Got a few scalps here and there but missed the trade I’d been waiting for all day – the move up from 908 – which is yesterday’s point of control. These are my favourite trades and I was a bummed to have missed it as it was a great trade. Oh, well can’t catch ‘em all I guess. I’ve had a decent week, and a decent day as well, being up 16 pts per contract on the week and 5.5 for today. I could have done much better but I think it’s silly to expect that I will be performing at my peak at all times.
Have a great weekend and hopefully you will be able to create that change of pace and get back on track.
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Your analysis of the close is a hell of a lot more robust than brett’s last post!
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You put on a clinic today. You are amazing man.
I know it's redundant to say thanks but your tutalage is the opportunity of a lifetime for me.
Take care.
Congrats on the recent interest in your site and on Brett linking it. I’m sure many will find very useful. I sure do. In fact, you’ve inspired me - I have gotten setup with Camtasia and Snagit and will begin doing like you. I am looking into domain names and will begin building a website. The website part may take a while as I have no clue how to do it, and I have no aptitudes towards coding. Hopefully I can figure Dreamweaver out and have a simple layout that is easily maintained and updated. I might just use a blog format with twitter and flickr. We’ll see how it goes. (Maybe you have some pointers for me on that front since you’re already doing it.) Does the increase in views for your videos have increased your need for more bandwith with screencast?
I think it’s a nice idea to put what you do out there for others to see. First, it helps with accountability, but the nicest thing is that you might meet like-minded people and, over time, develop a little community of traders with a similar approach to trading, who help each other out. That’s what I’m hoping for anyway. As an independent trader it can get a little lonely at times, and if that’s not a problem it’d still be nice to have a group of likeminded individuals to share ideas with, and talk about the markets ( and actually understand what you’re talking about). I don’t know about you, but my family and friends all know what I do but they really don’t understand it, even id explained in detail, with analogies, charts, etc…
How do you get standard deviations of the mean on your VWAP indicator? I don’t have that option on my charts when I put it on.
All the best,
Talking with you about structure today was mind-blowing!
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Some of the prop house links and links to expensive services Have not really impresses me. Maybe because talking to you for 5 minutes per day is more productive then some $800 tape reading course from SMB. Funny.
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i've studied m/p. and just yesterday ordered a book from cisco. re their overlay. to make a long story short (maybe too late now), the problem i have with the profile is that steidlemeyer has backed away from it since he thinks with the advent of the big funds, it's reliability suffered. he mentions this in his last book and he seems to indicate that cisco's data can help sort out where the next move is . that and his software $$$$$ for you .
i still like it as an organiztional tool but with all the above caveats. your work is great thanks for the effort. need to read more on the site.
My friend called today and told me how well he’s doing with your stuff. He says that you’ve helped to give him some edge. He’s winning everyday and happy.
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Hello,
I just discovered your site a few days back, and have already learned a lot going though your videos. I have just started looking into auction market theory and market profile. I have been with the ioamt trading room a few weeks and watched almost hundreds of hours of videos and reading. I'm forming a trading plan right now, and are hoping to be done with it within a few weeks.
Anyway, I just want to say that I really appreciate your work on the tmta.net site, keep up the good work.
Snippets great learning tool.
I was thinking over the weekend regarding the hits at GDT. Not
only are you getting hits from individuals such as myself but
probably institutions and prop firms. They are always on the
look out for original and creative thinking.
So far your analysis have been spot on, congrats.
Hi All, just found yur site by way of Brett S. link fest last week.
I'm interested in how yu video and link yu vids to the net. I have investigates many softwares for videoing my screen yet the size of these files are beyond my computers capacity, it just bogs down the puter by overheating the resources & i have large memory and storage capacity.
if i may ask what program are yu using for videoing yur screen and how much storage space and memory do yu use in yur computer? (i'm wondering if i have enough)
yur method of trading is very similar to mine, vol and price analysis at major & minor support/resistance zones. i know this sounds typical yet using the wyckoff based approach it very simple and effective on ES type mkts & currency futures. I've attached wyckoff's best section of his course put together in the 1930's, it's a bar by bar analysis of the second phase of the 1929 break.
spend some additional time on the notes on each page. many golden nuggets of mkt insights. it explains quite clearly why programs like market delta don't dial in the turning points as well as it should, causing mixed messages (is the breakout attracting new buying or are sellers sitting on the offer using limit orders absorbing the buying coming in.) which leads to confusion and difficulty making decisions.
i could go on and on.
if yu have any questions don't hesitate to ask. i luv talking shop!!
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Keep up the good work man, you just putting yourselve out there on the blog with so much transparency is something that 100% of the people cannot do, including me. You freak.
i'm looking forward to getting deeper into yur site, mining for those little nuggets of insights only guys or groups like yu have... thx for putting the info out there for us.
enjoy the volatility...
Hi Steve,
another question, how are yu identifying buyers sitting on the bid using limit orders and sellers resting on the offer with limit orders? or what us call passive buyers and sellers.
noticed yu were driving blind without the first 20mins of data this morning.. (second vid) tough ways to play in this playground. great insights on yur par thx for putting it out there.
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Hey Steve,
I’m really glad that I was long when you called to save some face for missing the morning trade!
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Hi,
I stumbled upon your blog via Dr. Steenbarger's blog, and found your comments on his page, and the content on your blog very useful, and insightful. I just wanted to drop a note to thank you for publishing your content so freely, and generously.
By the way, I am also trading the US equity futures (ES & TF) with Market Profile as my guide, and a reversal chart for timing. I don't pay much attention to the TICK, other than having audio alerts for extreme levels (my extremes are based upon TPO profile levels on a TICK chart over a 30 day period). So, it was great to see your chart with the levels, and corresponding move in ES in relation to the VWAP. Something I will watch a bit more closely.
Thanks, & kind regards,
Hi Steve great talking with yu today on the phone. checked out yur results for Sept.
man yu were on fire... killing it!! nice trading, went thru the first 2 days of Sept against the charts, it was clear the trades were taken in spots where the edge was in yur favor, nicely done..
I did notice there weren't many breakout type entries and was wondering if yu had idea's on identifying breakouts? where yu could see it was attracting new buyer/sellers as price moved thru resistance/support?
I'm always interested in how traders deal with the toughest part of trading "breakouts"
I'd be interested in hearing any insights on the subject from ya.
Thx
have been working thru yur site
nice read this morning on open interest... gave me a great trade idea for a long at 22,
"first retracement play" @ 10:40ish CST with 3 nice adds along the way,
only shit myself on 3 of the 4 times it pull back "real deep" !!!
have a great weekend.
Nice call today, I hope you held on!
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Steve,
Thanks for the time to develop these videos they are very informative epsecially to someone who is on the long road of discovery to become a successful trader!
How are things with you? I see you are back and doing well. Good job.
I am struggling this week. Not sure if it’s me or the markets, maybe both. Seems like things are out of sync, market isn’t behaving normally – did you notice that? Maybe it’s the change from trend day after trend day to lower volatility range days and I’m having difficulty adapting. We’ll see.
Best,
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Great job again with your Brett submission. You’ve got great creatively and inspiration that is way above the norm…and thanks for sharing with me.
Hi – I came across your site from a referral from Dr. Brett and immediately felt comfortable with how you trade since it is very similar to my methods: TICK, 5/6 Tick Reversal and Market Profiles. I use market delta as well and the question I have is what is the indicator (and parameters) you are using for the 5 minute TICK? I see the 5 period moving average, but I am not sure how you are forming your standard deviation bands around it? Any help you could provide would be most appreciative.
Thanks,
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Nice snippets tonight. I always enjoy it !
I saw your website and have enjoyed your daily charts etc as I use pretty much the same charts you do. I am writing you to find out more about the software that you use to record all of your trades as I currently manage all of the data manually. Do you offer the software and is there a trial period that I could use it for, say 1 month to see if it meets my needs.
Thanks much,
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I checked on his site and his personal mentoring is 9,500 per year and the 2 day seminar is $1500.
It was fun trading with you today. This is a fabulous experience for me!
I was proud of myself to take that afternoon fade trade with confidence.
Hi Steve,
What a clinic you put on today. I hit my daily loss limits today and then a little more…
Talking with you yesterday is still tripping me out. I’m flat out astonished at how just twenty minutes with you helped me to process a lot of concepts (I’ve read about many times) in new ways.
I’ve been going through your diaries all day. Just looking now at the kick ass huge days you pulled in aug. Shooting 50 cars too. Man, you are a stud.
I wore my Steve hat today and shorted the 59’s at about 11:00 your time. Love it how you frame each trade and it’s helped my process.
Have a great night. Good insights today. Best,
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Brett put on a clinic this morning. The great thing about Brett is that he’s stable as a rock.
Nice entry at the 44’s. Very cool that we both took the same trade. I took my 3 and ran.
You sounded a little hard on yourself this morning. I think that you’re doing great!
Why am I at these stupid screens?
Later!
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SSK,
Thanks for posting your videos and snippets again.
I learn a lot from them and missed them during your spring break.
Thank you again
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Best,
BTW, Steve…
I’m continuing to explore your entire site. It’s so cool how you take everything that I’ve been studying for the last few years and synthesize it so well. Although I “know” all of the information, it’s been a challenge to synthesize it all, and move beyond emotional interference. I’ve read all of Dalton’s books twice and have read Brett religiously for 3 years now. Having you apply off of the concepts to you sight, and knowing that you kick some ass trading too, is a huge positive inspiration for me.
Thanks!
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Hey man,
Good calls on the market today.
You’ve helped to guide me into a learning process that I can believe in. And this, really, is what I needed – confidence in my process. When you call to tell me what you see, I can snippet about it and this develops my mental library. Thanks
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I've been going through your website and wanted to know do you have any sort of training program or course for your tarding approach?
I’m excited to have worked my process so well this week. I got a lot out of your cognitive dissidence videos and freaked out a tad as I realized how much I do that stuff too!
Those 50 rules you shared too has been thought provoking. I hope it works someday!
Lastly, just hanging out with a guy like you, who throws around size, has been hugely expanding. Your process focus and huge confidence level is a profound experience at this stage of my trading. Emotional interference has always been an issue for me, especially with all of the personal life drama.
Steve, thanks for the heads up today… Having you call me to point out reference points is hugely helpful to my process.
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Awsome man, glad to have you back. Looking forward watching you videos again.
Best regards
Steve,
The open interest “only” decreased by -835 yesterday. Do you consider this a valid metric that might have contributed to the afternoon rally today?
Glad you kicked my ass into watching the open interest with some discipline.
Steveo,
Thanks for calling me today. I’ve learned more in the last week of talking with you than in the last two years.
I started a blog and stole your snippets theme!
I went long the trade you mentioned at the gap fill. It went about 4 points in my favor before I took a breakeven Thanks for kicking my ass tonight, Steve.
I like the poetry on your site. I’ll need to get more poetic. LOL! I just LOVE that picture.
It’s a really cool thing that you’ve stepped up!
Catch you later!
One thing that I got from you today was how positive you are.
You are intense, Steve.
All I’ve got to do is implement daily change and a positive process that hopefully comes together…
You’ve helped me a lot Steve and onward we go!
Talk to you later.
I totally missed that A period reference point. Thanks for pointing it out.
It is nice to have a couple of winning days.
This Brett chapter, combined with you calling to point shit out to me, has been a huge learning experience.
You are a very talented coach, Steve.
Steve,
I read your comment to Brett – You make great points! I tried to follow your communication and felt that maybe you point, if presented more concisely, might have been more effective. But I’m still learning…. Lots of what you say still flies over my head.
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A tad over +8. I finished +6 for the week.
Nothing compared to sexy wexy status, but it was a hard week to trade.
I’m hoping soon to put together some winning days. This week I was loose one day, win, win, loose, win.
My dream is to win, win, loose, win, win!
Then I change my name to sexy wexy and live large!
Thanks again and best to you and the family!
Thanks Steve, Saw the chart on screencast. Read it a few times and figured it out.
Man, I could burn hours on the charts!
Good learning.
Have a great night and see you tomorrow.
Just you calling me a few times, just hearing a confident and supportive voice, just KNOWING that someone can do what I’m trying to do, has been an astronomical help.
Making a few points the last few days has been ok, but the real deal has been breaking through cognitive dissonance.
The pictures on your site are amazing BTW. I especially dig the pics under “trading psychology”.
Call me anytime to rock my world. It’s been great to observe some insights not enjoyed by others.
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Wish I could have “camtasiaed” some of what we talked about tonight. It was great to hear about your transition process!
You just can’t get this stuff in stores : - ) Trading is so cool sometimes.
It’s fun to be turning up the volume on my process.
At this rate, three months from now will be interesting…
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I see where SSK is posting "brief therapy" video snippets to supplement his series on "a great day trading". The idea is to use review to highlight your mistakes and turn those into "therapy" goals, even as you review your "great days" and stay in touch with your strengths. Your three common trading mistakes may be quite different from the above list. The key is to know where you can best improve your performance--and then turn that information into a directed program for self-improvement.
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One of the greatest things you’ve helped me with is letting go of the neurotic thought patterns: Just by you being you and modeling positive and happy emotions everyday. Thanks
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It’s the 1st time ever in my career that I stopped trading 9:30 my time and went WTF when I looked at my P/L. I made 9 points and had no clue that I had made that much.
I attribute this experience to really working on my attention span issues. Like you do, I just started journaling thoughts, trades, actions real time. It really helped me to engage the market and forget all of the other stuff.
Hanging around you is starting to help!
Later,
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I’m humbled. Nice call.
Also, look at the TRIN. That was a big tell too, as it has been trending aggressively up.
I just took +6 on the fade of the VWAP. I’m excited to have nailed the entry at 691.75!
I can’t invert the face and I cannot see shit in the other picture under your “trading psychology”.
I missed the trade you left on my VM but see it and will add to snippets.
Best,
Thanks for your compliments on my snippets. It’s great to have a positive mirror.
Once I get past this serious trouble-shooting stage, I’m going to try and do stuff that’s more unique to me.
Your positive attitude is so killer. Man, I can’t wait until I get there!
I’m “re-coaching” him now with your stuff! I try my best to pass on what you tell me, your attitudes and outlook, etc… It’s helpful and he’s starting to do well trading the ES. He’s almost ready to chuck stocks!
Your help is flowing downhill!
Best thing that you said to me today was “enjoy the process”.
That’s cool philosophy.
It was neat to hear how you saw the trend move so well.
Trippy!
Have a great night.
Viewing and Reviewing Markets - SSK continues to offer nice examples of learning from market patterns by reviewing charts and by reviewing patterns of successful trading via video.
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Thanks for checking in today. You made me double down on concentration and I grabbed seven points today. I'm just 2-3 winning trading days away from making back what I lost in January and February. It is really amazing how you helped to turn me around. My win rate has gone from 28% to 60%.
Thanks for today and have a great night!
Best,
So I'm just going to keep moving forward in my learning process. Putting together a robust website with folders to properly chart book is my next step. I have also reengaged Dalton’s books. Even though I've read the books a few times (for some reason) I never fully was able to holistically engage with them. But hanging out with you has unlocked the few things.
Hi Steve,
I hope you are well. Glad to see you getting back in the game! Man that is one trippy computer, it looks like an alien spaceship.
So you’re a percussionist; this is quite the setup you’ve got my friend. I play drums too. Well I used to play a lot more before I got married but you know how it is. I’m ok on the conga, but am better on the djembe and derboukha.
Looks like you got a nice house, too.
I gave up on the website, could never get it to work like I wanted. Would need to become skilled with php, css, and xhtml but I really don’t have the time or the desire (or the propensity, really) to learn that stuff so I gave it up. Am getting setup on blogger and twitter, Don’t really want to make it a public thing for everyone to see so I’m setting it up to be private and I’ll invite only the people I want. I’ll let you know when I’m up and running with all this.
All the best,
Showing me the nuances like you do is an incredible experience.
Today was an intense day with a lot of dynamics in play.
Thanks for believing in me when I loose confidence.
Have a great night!
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Nice call to buy the lows here. Once they did a final little probe down, that got rejected nicely.
Just your positive attitude works wonders for me! Bill is constantly talking negative about the market, calling it all of these bad adjectives. He scratches for even a point of wiggle. He offers some good insight but all of that negative conditioning can’t be good. I regret joining.
Thanks for the tutelage this week. I’ve learned a lot.
We hit 755.50. Just a few handles from where you said it would go.
None of the shit you teach me is talked about anywhere else.
I like it how you are in a good mood everyday.
That’s the best freaking skill that you can teach me!
Have a great night!
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Thanks for passing along; you're making great use of video-
Your comment today: “do what you know how to do best” was great coaching.
Onward!
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Thank you for posting snippets again.
They are the best stuff out there in the trading community.
The little nuances that you share when you call are great. Thanks
Tim bourquin does trader interviews. I listened to his don miller interview a few months ago and they guy was basically bragging that he took out 500k last year trading the ES. He likes to talk about what he makes and the size that he trades.
Now he’s the top rated blog/guru? Above Brett? I laugh. He does not really teach anything, only talks in vague themes. I just watched his video and he just talks about himself. LOL.
You are 10 times the trader than this don miller dude. And your site is 500% better than his too.
Have a great night.
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I”ve often wanted to refer Tim to interview you. But you are too good for him, but it would blast off your site traffic though!
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You were exactly correct that my stop was too tight and fell into the stop run zone.
But I saw my stop get taken out on some big negative delta readings and it was a tick extreme too.
So I re-entered and need to remember that you were right: They ran the stops 2 points over K period.
I have to leave here pretty soon.
Intense lessons today, thanks.
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You put on a clinic today, man. You make it look SO easy. Thanks,
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New video looks great. It’s cool how you can shift screens like that.
Nice work!
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A particularly valuable video project is offered by SSK, who provides streaming videos of "a great day trading". These videos capture the live trading process and illustrate what happens during good trading. Such an approach fits well with the solution-focused coaching methods I've described earlier: instead of focusing on weaknesses, we can learn from observing our strengths and building on those. The videos illustrate how basic auction market concepts--and indicators derived from those concepts--can be applied to the short-term trading of markets.
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Your site is awesome, I truly am enjoying exploring it.
Also do you have a list of reading material from your trading research and experience?
And would you share it?
Thanks for your time.
Peace
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Thank you Steve. I really appreciate it.
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Thanks for the feedback.
Can you tell me if my take on your snippet number one is accurate?
1) I understand that C period tested the top of Wednesday’s value area at the 901’s
2) The test came on the heels of a gap up morning.
3) Since the value area reference point at 901 was only tested by 1 TPO, there was an 80% chance that the other end of today’s value will be tested.
I got it right. Right? ~~~~
~~~RE:
no, if there was two tpos that tested yesterdays value area high, then the target was yesterdays value area low. since the c period only had one, a no go, but today, we had 2 tpos, and did get to the other end of yesterdays value area low, plus a bit more.
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Hi,
Great vid on June 11( part2). I have noticed that you trade with price targets in mind and for the life of me, I cannot figure out how you come up with them. Would you share your strategy with me?