Plan the Trade

well today I traded longer than 15 minutes I traded 20 minutes and stopped

Experience is proving to me that using the volume profile for HVN's works generally very well. I posted one yesterday and here was todays;



and PA;

Had a hvn tpo in same area

levels:

I'm sure you all know but the Russell 2000 is back on CME and I think I remember seeing someone say once that it has a bigger range than NQ although NQ might be a little more back-and-forth (which could maybe get one out of a losing trade?). Also, allegedly it is smoother, so maybe less whipsaws? I think the symbol is RTY and maybe worth a look?

What's daily volume like

For the 7th NQ was about 266k and TF (as it was called) was about 100k although the data fees were much more, so it might pick up even more now. Do you still have it at .68 for the TPO?

I still use 68 for volume also looked at the rty and it moves .10 so 10 ticks is 1 point Friday low to high 17 points NQ much move I will stay put the NQ still the best bang for the buck

It was quiet in here on Friday. Hope everyone is well.

My demo with Sierra expired before I could actually really trade with it so I'm demoing on ninjatrader instead until I fund an account and then I'll go back to Sierra. I found a free TPO on the NT site. Anyway, these are my settings if anyone can comment to help them look like yours. Specifically the session times? I don't want to place too much of the burden on anyone else so don't worry about answering if it's tooo much work!

I took two trades for +1s both times in the last 10 minutes of the first hour using Dev's old RH method because I didn't have my TPO set up. My idea was to cancel right away when up a few ticks to have some psychological lee way before I risk more. So I canceled after a few ticks and it went to +1.

edit: I did it again to try to get +3 or +4 and then on the sim it showed only +1... ?

doesn't seem like anyone trading any more so this is my last post 9 trades today

i'm still here .. got this today:

have been revising to +1 after 8 ticks .. if you look at my 2nd and 4th trades, i get knocked out before mkt moves. will go be-5 after +6, then +1 when up 10 from now on

Good afternoon H - here I am just getting to middle stages of reading the thread and it looks like all the passengers have jumped off this bus - before you go, would you mind posting a snapshot of your settings for the profile setup in this picture please. Cheers

here you go binnie

Thanks Harold - good to see you still sharing - I gotta see if I can get my head around this but at the same time keep it as simple as possible.

Still here. Out of town for a couple weeks in the NC mountains and forgot my power cord for the computer! Have one on order from Amazon now so I can get back online. Glad to see you still locking in profits.

First picture is view from the porch and second is from across the street on top of the mountain.

Here's an interesting one for you... I left a valley of single prints on my chart from the 29th. I'm getting used to leaving certain lines on the chart now, to test their relevance once we revisit the area again. Here it is;



Now, here is what PA did when it first reached the line last night;



Coincidence?!

I found 20 minutes was enough yesterday, (red circle), the retest was a lovely trade;

No-one is going to persuade me not to watch the volume profile. I've purposely been watching both time & volume alongside each other since the start and i'm kind of feeling that volume has more relevance - especially as pointed out last week, that the time profile can easily be skewed by out of hours trading.

It's each to his/her own preference of course, but i'm simply sharing my observations and at times like recently, where we have such huge gaps in-between lines due to the range being covered, it's actually quite a help to add HVN's and valleys off of the volume profile.

Here, i notice that we had a small valley in volume profile centre at 5688;



and PA;



Incidentally, i've added the TPOC to above chart, but it is only 6 ticks apart from a previous HOD - for me, this spells caution. Should i delete the HOD? or should i not add the TPOC? I can not answer that question. If it were any other line but a previous HOD, i would delete it and run with the TPOC, but often previous HOD's work very well.
Also TPOC's can be annoying, sometimes they act as a solid line on the chart with a clean reaction, other times PA prints either side of it. I certainly have a preference for extremes and valleys/hvn's (especially single prints)