What's up? Haven't even looked at IHUB for a long time. Drop by SI sometime, I'm over here now. Glad to here things are going good for you.

You'll love futures <G>

https://www.siliconinvestor.com/subject.aspx?subjectid=60132

Hey, sendme, I don't get on IHUB much. It tends to freeze up my PC. Shoot me a note over on SI. On the 9th and 10th most everyone was loading in JNUG or GDXJ for various reasons.

You know besides the usual day trades.

No, I can't bring myself to hold futures overnight<G> still scalping them. I can see the bigger patterns, but very seldom hold them. There are smaller patterns to trade everyday.

The option trades and 3x's I'll hold overnight.

Today is an example of why I don't hold futures overnight. If one would have held 5 contracts of ES long down 37 points, one would be down $9250.

This is excellent, I'm stealing it. <G>

Scalping with Scott Carney. He does this every Thursday.

There are always bigger and smaller patterns. Always.

I scale into a crab from 1.62 to 2. I was short 6 contracts at a average of 3140.75. That's the beauty of fibs, you place the order and go to bed<G> As soon as its up 10 points or a T1 a protective stop loss is put in place which ever is less.

Then I simply wait for the next pattern.

Yep, the 2 fib is a crab thing. They react close to there more than the 1.618 when they are with TREND. Counter trend its the 1.618. That's what I have noticed.

2 fib has gotten to be a crab thing, many of them go there before reacting. I've taken to scaling in.

ES, NQ, RTY, Futures are simple, they trade about 22.75 hours a day. Monday through Friday. Close on Friday at 4:00 PM MST. Open again at 4:00 PM on Sunday. They make many more patterns that say SPX, because the are trading 22.75 hours a day.

Futures are extreme leverage.
1 ES contract controls $155K of the sp 500 at the cost of $3.8K in cash for margin. I think that increases if you hold over 24hours. Not sure on that margin for not day trading.

Now look at that chart again. There are two obvious trades off that pattern. The first Type 1 reaction then the check back testing the pattern. Reacting back to Type 1 again. Each is more than 10 ES points. You can't spend 10ES points made daily trading just 2 contracts. You would be hard pressed to spend 1 contract..lol..

A blast from the past.

https://www.siliconinvestor.com/readmsg.aspx?msgid=32429312

I just trade the futures, not the options on them, That would be insane leverage. lol. The leverage in the futures is plenty, ES $50 a point per contract, NQ 20 a point per contract, RTY 50 a point per contract. RTY is about half the margin of the ES and NQ per contract, So you can trade twice the number with the same margin.

I trade ES, sp 500 future, NQ, NDX future, and RTY, Russell 2k future.

I trade the 3x's of SOX index, GDXJ, XBI once in a great while.

I brought back the RSI-3 scan recently to find some multi-bagger option plays. In individual stocks.

So A Cypher is a .786 shark, Hmmm, I did not see that. The 1.272 target is a bit Greedy <G>

Looks like you are doing well, should be retired soon.

I saw this,


https://www.siliconinvestor.com/readmsg.aspx?msgid=32427692&showwhorecd=1


https://www.siliconinvestor.com/readmsg.aspx?msgid=32427720

Still own the business, hired enough people, where I can trade Sept. through May.

Been day trading ES, (SPX) future. NQ, (NDX) future RTY, (RUT) future.
Even holding some positions overnight. lol

Starting to trade options on individual stocks. Last one was ULTA. $1.78 OCT 18, 242.50 call. to $22.00.

This is the NQ 5 min shark pattern I was forced to hold overnight. The pattern came in right at the close.

Hi sendme, so this is where you have been hiding out at. Looks like you have been doing well, scalping $60k worth of stock.

I've been over here, drop by sometime. This has turned into the best thread on the net. Many excellent traders post here.

https://www.siliconinvestor.com/subject.aspx?subjectid=24052

A pattern is just a tool, that forces a action. Repeating patterns force more actions. None are 100%. The better the tool the better the results over time.

If the pattern is 80% and has at least a 1:2 risk reward ratio and you honor both. The law of large numbers becomes parabolic.

Since I started trading harmonics in Feb. I have averaged 15 ES points a day since I last calculated it about a month or so ago. Started trading one contract. I'm trading 5 contracts now. I can live off that.

Futures, so much money LOL. That 20 point rip off the bottom is $1k per ES contract. Of course that 100 point NQ rip is $2k per contract.

The best part is tomorrow is another day, another pattern. LOL

This is probably going to be my last year working.

Yeah, he has all the patterns each with its own video linked at the top of the page. I'm using his real time pattern recognition software, its awesome. Best market tool I've ever found. This is NQ futures I traded today off the bullish deep crab.

If you register on his site ( its free for basic membership) He does live trading that is recorded. Much good info in those.

Hi sendme, I use this site instead of that forex one. It comes from the guy who discovered and defined the patterns. There is a video for each pattern

https://harmonictrader.com/harmonic-patterns/crab-pattern/

The .618 is a problem as it can be a Gartley or a Crab. The Gartley is the keeper of the trend, if you see a counter trend Gartley odds are its going to turn into a crab. Also watch the reaction off the terminal bar (the bar that completes the pattern) The reaction to a T1 should be fast, if it stalls and starts to move against you before hitting the T1, that is a huge warning sign its a crab.

https://www.siliconinvestor.com/readmsg.aspx?msgid=32225996

Close, that's a crab, There were 2 different ones. The 120 min not completed yet.

Go back about 15 messages and you'll understand what I'm talking about here <G>

https://www.siliconinvestor.com/readmsg.aspx?msgid=32223731

Sorry Jerry, I've been busy, just got around to opening IHUB.

Start about 15 messages back, then you'll know what I'm talking about <G>

https://www.siliconinvestor.com/readmsg.aspx?msgid=32223731

Yes, Andrews pitchforks are a great tool. There is a guy on SI that very seldom posts anymore that was taught by Alan himself. Alan died in 1985 if I remember right. So he has to be getting up in age.

he's very picky on how the fork is anchored. He also does multiple forks that intersect to predict the time window of trend changes.

I was going to go through his old posts to see what I could glean from them.

Yes it is, it has been sold as a trading system 4 times, since HM Gartley first discovered it in 1935. It occurs in all markets in all time frames.

https://www.traderslog.com/abcd

Yes, many different ways to measure and trade the markets. I think it depends on the way ones brain thinks. Which way is better for each person to use.

New lower uncompleted bullish crab on the 60. A 10 min bullish butterfly completed at 2915

Business is weird, snowed a lot in the winter, camp grounds are just now getting open. Hasn't got above 85 degrees yet. Got a stack of 15 airs, starting to wonder if they will sell this summer.lol

other than that things are good.

No one understands EW its all ifs. I read people on SI that have used it for 40 years. Most use it as conformation of something else. Great for trading the left side of the chart, the right side is where it gets into problems.

most of the june 60 min patterns. ES. Investing.com data is wrong on the bearish crab. I put the x on my data. this was during the june to sept roll over.

These are the 60 min chart patterns for most of June. Edit The bullish crab is purple, long day <G>

I count the balancing time with a 60 min chart Bollinger pinch. The time starts when both bands turn sideways. There seems to be a correlation with the time spent in the pinch and the power of the move once it breaks. I really have no idea which way it will break.

Market is probably waiting for the TRUMP/XI meeting. Probably be contained in a tight range until then. Going to be a boring week.

Hi Jerry, Scott Carney is recording live trading using his software on utube. You might be interested.

Hi sendme, you're alive <G> EW is to subjective for me. I need a line in the sand that either is or is not. I've gone entirely to thunderbolts and 5 point harmonic patterns. That ABC EW wave, that was a perfect thunderbolt. With EW you have to speculate if that was just the A wave of a larger correction at the time.

I don't trade on those time frames anyway. Carney is doing live Day trading on utube as a tutorial on how to use his software. This is what I do most days, when I'm not to busy to trade.

Check it out, live trades.

https://www.siliconinvestor.com/readmsg.aspx?msgid=32178472

Note to self, check the longer term charts, when shorter patterns start to get run over.

https://www.siliconinvestor.com/readmsg.aspx?msgid=32174970

2 hour bullish butterfly completing here in ES.

I stop out at 5 points after entry. That gives the patterns enough room and gets me out on a failure before to much damage is done. Then just wait for the next pattern.

The accuracy rate on completed patterns is about 85%. The projected pattern Completing is about 75%

The thunderbolt just completed at 2816.25.

AB leg same length as CD leg. That's where the target for completion comes from. This is ES. There is a Gartley on SPX that completes at about the same place.

AB=CD 15 min thunderbolt almost complete.

This is how the last two ab=cd thunderbolts measured.

Hi Jerry, the patterns occur all the time on smaller time frames on the ES. The reason people think they occur on FX more is because on larger time frames they are rare. They really are just as rare on FX in the larger times, but there are many more pairs for them to form.

That found it. Its the 289 page download?

I did just says can't find page.

Hi Jerry, that link didn't go anywhere.

This is a link to carneys site. You have to register (its free) to access the site. There are webinars once inside the site, that cover his entire pattern system.

https://harmonictrader.com/

This is a link to the SI thread I've been hanging out at.

https://www.siliconinvestor.com/subject.aspx?subjectid=53724