Big chart trades this past month

Hope everyone had a nice weekend. Throwing out a question. Just curious, any big chart traders having a hard time dipping into this market in the past month? I feel like the YM is losing volatility and is setting up for a big move. The NQ is much more active and seems easier to play. Since the two aren't moving in concert well together should I be on the sidelines?

For the month of April, I've completed successful big chart trades on the following stocks:

MA
CF
TOL
WLT
QIHU
LL

No need to sit on the sidelines. Focus on IVR/IVS and/or divergence on big charts, and you'll find trades out there every day .

Thanks for your response! What do you mean by "IVR/IVS" ?

Indicator-Verified Resistance/Indicator-Verified Support.

These concepts were covered in Classes 1-5 and in RTP, so I won't go into any more detail here.

Thanks for the quick reply. I will check them out. I took WSB online 1-5 and will go through my notes, but that term sounds new to me. Is it on a page in the manual?

I also took classes 1-5 and the advanced class and do not remember those terms, thanks for sharing

I don't think you'll find that exact term. RT said it was a concept. Look at your indicators and find support/resistance.

BB's for instance are a verified concept of resistance and support. Moving averages are as well...highs and lows, 52 week high 52 week low. MACD, Directial Movement...Stoch RSI...are all verified concepts or Support and Resistance.

Blow up your charts and mark where support and resistance has been on ALL these indicators...you now have a veirfied support and reistance.

At least this is what I get out of what RT is saying...it is something I do on charts 21, 34, 55, 233 and D somtimes my weekly depending on the month (mostly starting in first week of September).



Edited 2 time(s). Last edit at 05/06/2014 10:41AM by Darcy2.

Okay example...Blow up your DOW chart on the daily. Start at Jan open. draw a ray line straight across making the line horizontal. Now look for the low at 2014 on your daily chart. Take a ray line from that low to the close of yesterdays candle. That area is an area of indicator resistance and support. Note you should end up with a triangle. Look at how many times on the daily chart the candles hit that top ray line and the market then goes down. That is a level of indicator resistance. The bottom line is an area of support.

You now have a pattern. This is an ascending triangle although you are not getting new highs. You have a Dow resistance area. This would be a stop loss area. In other words the DOW can rise up to the top line and then pull back. In that triangle area is where you can trade. You have a Indicator-Verified Resistance/Indicator-Verified Support. Read chapter 9 in the TAD book.Chapter 5 in the Market Makers Edge.



Edited 1 time(s). Last edit at 05/06/2014 11:04AM by Darcy2.

The concept might have been mentioned at a very high level in 1-5 but maybe not using those exact phrases. It was definitely mentioned later on in my studies. Obviously no one that is still under an NDA can confirm, deny, or opine on the subject. That said there are a couple of things that one could extrapolate from this discussion that I think are common knowledge. 1.) Several students did quite well with just the 1-5 knowledge and doing the work w/out ever taking RTP. 2.) Darcy appears to be successful. Given those two items I would say it might not be a bad idea to listen to what she has to say.

Raleigh trader, could you be so kind to list the dates you made your trades. I've been making good progress on the short chart trades, but am having trouble spotting the bigger charts moves. Thanks for posting.