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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.
yes TVGR is in effect on Ftse and Dax.
If ES closes on the high, tomorrow SS day could present an ideal shorting opportunity.
OTOH if the current uptrend is strong enough, the rally could continue on SS day in which case will have to wait for Friday BUY day for shorting. This is what Taylor would be looking for. Let us see how it pans out:)))))
Originally posted by rigel

yes TVGR is in effect on Ftse and Dax.
If ES closes on the high, tomorrow SS day could present an ideal shorting opportunity.
OTOH if the current uptrend is strong enough, the rally could continue on SS day in which case will have to wait for Friday BUY day for shorting. This is what Taylor would be looking for. Let us see how it pans out:)))))


I agree
By the way people check the website as the US stocks list has been revamped and lots of ETF added

Comment welcome
Originally posted by rigel


OTOH if the current uptrend is strong enough, the rally could continue on SS day in which case will have to wait for Friday BUY day for shorting. This is what Taylor would be looking for. Let us see how it pans out:)))))


What do you objectively look for to establish, in real time, that this is indeed the case. (It was, in hindsight). Would it not make you miss many moves if you wait to short in SS day?. (It worked out in this case. I can see that, but only after the fact).

Not trying to be difficult, just seeking clarification from more experienced users or REAL TIME application of the principles. Anyone can see that 1107 was a major fibo point, etc, etc, etc. AFTER the fact, and the general tendency is to ignore all of the fibo points that happened on the way to 1107... I hope you get my point.
dax got decline for buy day just at the open , does the second high low at 6:00 est (5645 area ) became a buy entry per ttt ?
Durendal
you have valid points,
in Real Time, it all is upto the tape reading skills of the trader, what price action is dictating, is it in a hurry or not as Taylor puts it.
Again it is not waiting for SS day to short only, infact yesterday price/vol action showed strength all day long, yes there were short scalp opportunities and that is where trade management would come in.

As for missing the moves, presume your are referring to the long trades yesterday, yes you can take them if your tape reading dictates that again managing with stops. -this however is not strictly Taylor.
Taylor would wait to see if high was made last, as was the case
Today Buy Day was ideal high probability short after an initial decline, and rally.
Again it is difficult to provide all the nuances on Taylor here, no other short cuts but to study in depth his work and posts by WHY?, Richbois and Frank on the Taylor thread at traderslab.com
aincas,

Decline is required on a Buy Day and we got that in the first hour of dax trading,(7-8a.m UK) once the cash market opened 8a.m UK, the price action clearly showed signs of strength, for that is when volume kicked in.
Originally posted by rigel

aincas,

Decline is required on a Buy Day and we got that in the first hour of dax trading,(7-8a.m UK) once the cash market opened 8a.m UK, the price action clearly showed signs of strength, for that is when volume kicked in , this was followed by rapid rise ie. climatic action, and prices stalled right at the pivot level, short of SS day high, good location for a short with a low risk stop point.after 3 days of price rises as per taylor. Same on FTSE. Again number of contracts etc on these high probability trades depends entirely on individual risk/reward , account size, trade management etc. Taylor is not a mechanical system but very much discretionary, however the rules allow you to focus on the main plays.
Today is a Buy day for the DAX and yes we are looking at a decline.

Let's not forget Taylor says that the 1st area of support or resistance is the previous day's low and high.

So today DAX drops at the open and makes a test of the Previous day's LOW and that happens to be in 2 different DP Zones as shown by the 2 blue lines and the 2 red ones. At the same time we have divergence on the stochastic.

A long was a proper course of action here. However we needed to protect that long by taking early profits or by keeping a tighter stop. The reason for that is the gap and the possibility of TVGR.
Click image for original size
screenhunter10 feb 19 08 29
Thanks Rigel.

Do you have a compilation of all those posts by the experts that you mention?. I hope you can link a .doc or .pdf here and then we can have a more meaningful discussion.

I admit I'm a newbie to Taylor, but I like his approach a lot, yet I feel it is hard to objectify.
I hope all you TTT traders had a good 2014 and I wish you all a better 2015
Richard