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Post by forex123 on May 4, 2015 23:43:17 GMT -5
Hi everyone and allen. I am a brand new wanna be trader and I did read some of bob volman's book, it's really over my head though and I don't learn well from books, I love watching videos and just learning outside of books where I can interact.
Can anyone recommend a site (I think allen said there was one, perhaps person's name is bill?) that I can join (doesn't need to be free) that they can go over everything live and live trades and guide me based upon bob's and allen's strategies.
The live chat here is too advanced for me, I'm not there yet
any ideas greatly appreciated
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Post by society on May 9, 2015 22:04:17 GMT -5
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Post by traderAllen on May 10, 2015 10:51:33 GMT -5
I'm working on making the chat room two fold. Broadcast mode (moderator only) during live action and Q and A when the market is slow
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Post by forex123 on May 11, 2015 9:39:05 GMT -5
wow, that sounds great allen, do you think that will be ready in next week or so? very excited about that.
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dd
New trader
Posts: 5
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Post by dd on Jul 19, 2015 9:08:30 GMT -5
Hi
I just found your site. I have trading for a few years. Focusing on price action from Al Brooks and recently started reading Bob Volmans two books.
Allen, I have heard of a bunch of problems with ninjatraders tick charts. I was wondering if you came across this in your using the 70 tick chart? If not, which data feed are you using in order to make it work for you?
Also have you spent anytime on Bobs second book about trading the five minute chart or do you only focus on the 70 tick chart?
Thank you, David
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Post by traderAllen on Jul 19, 2015 16:14:06 GMT -5
First, I'd like to start off with saying that there is absolutely nothing wrong with ninja trader tick charts. They work exactly the way tick charts were designed. I know, I know, I read the same forums you read. I tried to explain it to those people but they refuse to understand the nature of a tick chart. It is the same matter what broker or charting service you use. All tick charts populate from the right edge backwards to the left edge of the chart. They do not work the same as a timeframe chart. A one minute chart from 8 AM to 8:01 AM will always be the same no matter what. Tick charts are different because you're counting ticks. When you open a 70 tick chart (or whatever timeframe) it loads the latest 70 ticks on the right edge than the data load backwards from there. Therefore if you close out your chart and immediately reopen is going to be slightly different because you have a new 70 ticks to chart the first candle. Same if you load historical data, ninja trader like everyone else works the same way. I have been using ninja trader tick charts exclusively for about two years. My profit to loss ratio blows away most people, as well as my yearly ROI. If there was any issue with NT tick charts I would know about. As I have placed hundreds and hundreds of trades.
Here's what I recommend that will aid you in your trading I do it on every single trade no exception. As soon as I close out a trade I take a snapshot of the chart I save it to my Journal. Therefore if I want to go back and review it I will see exactly what I saw when I took the trade.
As your second question if you're going to scalp I think a 72 to 100 tick chart is the way to go. Yes I have studied the five-minute method. However knowing FPAS as I do. I really believe that the methods shown in the second book was meant for a tick chart. I think it was changed to a five-minute strictly for marketing purpose, since there are more traders that use minute chart and tick charts. I'm not faulting him for this. if you want to sell but you have to know your audience.
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