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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.
quote:
Originally posted by mlomker

quote:
Originally posted by Richbois

However only a weak rally ensued.


I've been pondering the 60 min chart and the pattern looks more like a complex wave-4 of 5 than an A. I'll be very curious to see if we have another wave down to 825 (my projection) prior to a rally.



Each of my 3 down waves had 3 waves in them. So based on that wave 3 of wave 5 would equal wave 1 of wave 5 at 823.75 pretty close to your projection

time will tell
quote:
Originally posted by Richbois
wave 1 of wave 5 at 823.75 pretty close to your projection



We both underestimated but TTT recap MA did a brilliant job.

I think Friday's buy day is going to be unusual. Not only is it options expiration but this A-wave hasn't gone up nearly far enough to retreat. It looks like wave 3 of A began shortly before the close.

Today was SS day. Not all markets ended up with a Positive 3 day Rally. After reaching projected lows of the recap or recap MA, the markets rallied and tried hard to make it back to the Buy Day lows. Only ES and YM failed.
Today was a Buy day. In the overnight session markets finished what they failed to do yesterday, creating a nice gap up at the open this morning. As we know we should expect a Decline on a Buy day from the SS Day highs and that gap was a good place to short until we made some kind of decline to at least the SS day highs, and normally more. A nice ABC wave pattern developed with wave 3C at 227% of wave 1A, created the Buy day low.

Monday will be a Sell day. It will be a thin and the session abbreviated due to the Martin Luther King holiday. So the European markets will dictate what happens. I case you are interested, European markets will also be on a Sell day.
I'm intrigued by your method.

What do you use for timing your actual trades?

TIA

quote:
Originally posted by Maria

What do you use for timing your actual trades?



You could use a wide variety of trading systems to enter positions using TTT. A lot of us use MTPredictor, a program that helps you find potential entries using Elliot wave and Fib levels.

The best trade for today would have been this one:
quote:
Originally posted by Maria

I'm intrigued by your method.

What do you use for timing your actual trades?

TIA





As mlomker said a lot of us use MTP to trigger trades. We use TTT to get a bias direction for the day and when certain TTT goals are achieved and we get confirmation with fibs and wave patterns it make life much easier to take the trade.

In the case of his example trade we knew from last night's report was giving us a short side bias and with this morning's gap up, we were looking hard for any excuse to short. That signal came 20 minutes after the open and knowing that Trader Vic Gap Rule also say we normaly reverse around the 15 minute mark and having the divergence on the oscillator in his picture, that was a pretty safe trade to take.

quote:
Originally posted by Maria

I'm intrigued by your method.

What do you use for timing your actual trades?

TIA





I also use MTPredictor addon with Ninjatrader and combine it with TTT and EW count based on 60,15,5 and 1 min charts so by combining all this I was able to sell twice around 857 then I was able to spot the low but because my 1K objective had already been reached I decided not to take that trade even if I knew odds were great we could climb from the 827 target I had.

I used to post a lot of counts in the market review section but got tired as it was time consuming plus it was interfering with my trading as I posted live trades with real counts while waves were unfolding.

Laurent
quote:
I used to post a lot of counts in the market review section but got tired as it was time consuming


I enjoyed reading through those threads--even looking at older charts that are marked up well is useful for someone starting out.

In the last month the buy day pattern has been the most consistent.
Today was a SS day, and it did act like one.

We did pause at the projected lows only to drop more.

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