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Day Trading with TTT and other tools


Welcome to this new thread, where we can share trading ideas and our thoughts on the Taylor Trading Technique.

Anyone with questions on TTT, this is the place.
Anyone who traded the TTT today and willing to analyze how they applied the TTT, woould be greatly appreciated. I see the down side clearly that confirmed at 11:10 in the am but wondering if anyone took this before and based on what? I never did go long today with the concern that 1261 had not been met. Very new to TTT and still trying to get my bearing. I hve read the book and continue to read it for answers.
quote:
Originally posted by Margie

Anyone who traded the TTT today and willing to analyze how they applied the TTT, woould be greatly appreciated. I see the down side clearly that confirmed at 11:10 in the am but wondering if anyone took this before and based on what? I never did go long today with the concern that 1261 had not been met. Very new to TTT and still trying to get my bearing. I hve read the book and continue to read it for answers.



This is what I replied to a similar email tonight.

Hi Rich

if Tuesday was a short sell, and today was the cover day then are we looking for a lower open and a test of todays low to go long tomorrow?

Also, would it be fair to conjecture, that after a huge drop on the sell short day (which likely could have been covered at close)then you would be looking for a range bound market..and further, if the open today had been strongly higher than the previous days close (ie unexpected)would you have considered a long if price backfilled to test that low?


My reply

Yesterday was a SS day like you said. However Taylor would have covered his shorts yesterday because we had achieved the average spread for the day and the average decline.

If for any reason you kept it till today you would have covered shortly after the open when we failed to take out the low. At that point a long could have been taken. We then tried a rally that failed at the overnight high. Time to get back in short. This time we took out the low and I was looking for my numbers of 1260 to long but was not reached.

I Hope that helps


I missed to answer about tomorrow and this was my message in tonight's report

Tomorrow will be a SELL day, often a confusing day. We should expect a rally from today's low. We also have a 56% chance of making a lower low. Should we gap down below today's low at the open, we will have a 95% chance of getting above that low at some point in the day.
Hi Rich,

We opened below the lows and we made it up to the lows. So now it is anybodys game right?

Since we have had a Buy Day Low viloation, should it be assumed that we should expect a decline today?

Thanks,
Jim
quote:
Originally posted by jands

Hi Rich,

We opened below the lows and we made it up to the lows. So now it is anybodys game right?

Since we have had a Buy Day Low viloation, should it be assumed that we should expect a decline today?

Thanks,
Jim




Hi Jim

You are correct it is anyones games

I still feel we should get a rally but it is the confusing day. If we dont start filling that gap soon then we will TVGR (Trader Vic's Gap Rule) in effect.
Nice call on that concept Rich////well done!!
quote:
Originally posted by Richbois

I missed to answer about tomorrow and this was my message in tonight's report

Tomorrow will be a SELL day, often a confusing day. We should expect a rally from today's low. We also have a 56% chance of making a lower low. Should we gap down below today's low at the open, we will have a 95% chance of getting above that low at some point in the day.


quote:
Originally posted by BruceM

Nice call on that concept Rich////well done!!
quote:
Originally posted by Richbois

I missed to answer about tomorrow and this was my message in tonight's report

Tomorrow will be a SELL day, often a confusing day. We should expect a rally from today's low. We also have a 56% chance of making a lower low. Should we gap down below today's low at the open, we will have a 95% chance of getting above that low at some point in the day.






Hi Everyone,

I'm not sure how to take the previous quote and I'm not looking to ruffle any feathers. I just wanted to point something out so things are understood a little better, at least from my humble point of view.

Rich's info points out probabilities and their chance of happening. And as he pointed out in his statement from the prior night the indexes did make it back the the previous day's low. So that was fullfilled. After the market got back to the previous day low all bets are off. (I posted that question to Rich and he agreed and that post was early this moring.)

All things, especially trading methods are not absolutes and there is always the other side of the trade. Rich talked about the Trader Vic Gap Rule which is basically if the opening gap isn't filled in the first 30min to 60min, the market will likely trend away from the opening gap for the remainder of the day, MOST of the time, as it has today.

How we trade all this is up to us.

I hope this helps and good luck to everyone,

Jim
quote:
Originally posted by jands

quote:
Originally posted by BruceM

Nice call on that concept Rich////well done!!
quote:
Originally posted by Richbois

I missed to answer about tomorrow and this was my message in tonight's report

Tomorrow will be a SELL day, often a confusing day. We should expect a rally from today's low. We also have a 56% chance of making a lower low. Should we gap down below today's low at the open, we will have a 95% chance of getting above that low at some point in the day.






Hi Everyone,

I'm not sure how to take the previous quote and I'm not looking to ruffle any feathers. I just wanted to point something out so things are understood a little better, at least from my humble point of view.

Rich's info points out probabilities and their chance of happening. And as he pointed out in his statement from the prior night the indexes did make it back the the previous day's low. So that was fullfilled. After the market got back to the previous day low all bets are off. (I posted that question to Rich and he agreed and that post was early this moring.)

All things, especially trading methods are not absolutes and there is always the other side of the trade. Rich talked about the Trader Vic Gap Rule which is basically if the opening gap isn't filled in the first 30min to 60min, the market will likely trend away from the opening gap for the remainder of the day, MOST of the time, as it has today.

How we trade all this is up to us.

I hope this helps and good luck to everyone,

Jim




jim,

spoken like an experienced trader

it's a pleasure to know you

good luck

gio
Today I had numerous questions about TVGR. As Jim mentioned it is a gap rule that Trader Vic included in his book. Please read the quote below. I find that this rule is very powerfull and should be respected. Usualy unless we get a double bottom or top after 11:30 Eastern this rule will apply.

The Trader Vic Gap Rule

"If there is a gap, and it is going to reverse, it will do so 10-15 minutes after the opening 95% of the time. Please believe me on the odds, they are real. If the market continues in the direction of the gap after 10 to 15 minutes, it is a strong sign that the move will continue for the rest of the day, closing in that direction as well. Even if the market reverses after the 10-15 minute period, if it fails to fill the gap, odds are that the market will close in the direction of the gap." Victor Sperandeo, " Trader Vic II: Principles of Professional Speculation, pg. 231
quote:
Originally posted by gio5959

jim,

spoken like an experienced trader

it's a pleasure to know you

good luck

gio



Thanks for the kind words. I hope I can give back a little.

Take care,

Jim
I hope all you TTT traders had a good 2014 and I wish you all a better 2015
Richard