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Plan the Trade

  • #8,881
  • Nov 9, 2018 2:18pm Nov 9, 2018 2:18pm
Not an easy day but ended up with +9 with 5 trades. 1 win, 1 loss and 3x be.

The loss I should have cancelled before order was triggered and too bad I had a no fill at 9.39 which then dropped for a +25.
  • #8,882
  • Nov 9, 2018 3:01pm Nov 9, 2018 3:01pm
Quoting VEEFX
{quote} I tried the profile indicator on Sierra and these red circled "low volume" price levels are often revisited to "fill the hole". HAve you also noticed this? I am not sure what the technical term is for these red lined zones lol {image}

We used to use these 'valleys' when we were concentrating on Market Profiling, about 18 months ago, you'll see plenty of examples of this earlier in this thread.

I actually preferred these to the TPOC/VPOC lines.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #8,883
  • Nov 9, 2018 4:00pm Nov 9, 2018 4:00pm
Quoting The Cableguy
{quote} We used to use these 'valleys' when we were concentrating on Market Profiling, about 18 months ago, you'll see plenty of examples of this earlier in this thread. I actually preferred these to the TPOC/VPOC lines.
Why’d you guys start ignoring these levels?
So many in the Commercial section want to make me rich! :o
  • #8,884
  • Nov 9, 2018 4:33pm Nov 9, 2018 4:33pm
Quoting FX-Flux
{quote} Why’d you guys start ignoring these levels?
+1 from me too
Staying in my lane...
  • #8,885
  • Nov 10, 2018 4:03am Nov 10, 2018 4:03am
Quoting FX-Flux
{quote} Why’d you guys start ignoring these levels?
For me, i found the same as always, regarding market patterns, they work one minute, then the next, PA sails right through these lines.

I always preferred simple Market Structure coupled with a pullback to previous S/D level. Sometimes Market Profiles can be very impressive though. It's true that set-ups at these levels can work well.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #8,886
  • Nov 10, 2018 5:13am Nov 10, 2018 5:13am
Quoting The Cableguy
{quote} For me, i found the same as always, regarding market patterns, they work one minute, then the next, PA sails right through these lines. I always preferred simple Market Structure coupled with a pullback to previous S/D level. Sometimes Market Profiles can be very impressive though. It's true that set-ups at these levels can work well.
Try placing a market profile on a supply or demand level. You’ll be impressed to see where price reacts
So many in the Commercial section want to make me rich! :o
  • #8,887
  • Nov 10, 2018 10:49am Nov 10, 2018 10:49am
Quoting FX-Flux
{quote} Try placing a market profile on a supply or demand level. You’ll be impressed to see where price reacts
Care to share a screenshot as I am not following how to "place" a market profile at SD level. My testing also reveals there is a lot of merit. Personally, I don't like guess work or "sometime it works and sometimes it doesn't" or "nothing works all the time" type crap. I have to know when/why it works and when/why it does not with a decent statistical bias to put bog $ on the line.
Staying in my lane...
  • #8,888
  • Nov 10, 2018 12:32pm Nov 10, 2018 12:32pm
Quoting VEEFX
{quote} Care to share a screenshot as I am not following how to "place" a market profile at SD level. My testing also reveals there is a lot of merit. Personally, I don't like guess work or "sometime it works and sometimes it doesn't" or "nothing works all the time" type crap. I have to know when/why it works and when/why it does not with a decent statistical bias to put bog $ on the line.

You need MP info, then recreate the lines across from the profile info. Using either 'Time' or 'Volume' (i kept both on my profile - time on left in green and volume on right in red). You get your Extremes, POC, Value high and low and then you can also see 'valleys' or 'high value nodes'. I also found that 'singles' would usually get revisited.

Too many lines though and it gets too cluttered, which is why i only add HOD, LOD and gap close (close value each night), nowadays.


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  • #8,889
  • Nov 10, 2018 12:38pm Nov 10, 2018 12:38pm
You only really need the previous days data, but when PA is outside of that range, you can look back to see what levels were relevant in the past.
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  • #8,890
  • Nov 10, 2018 1:09pm Nov 10, 2018 1:09pm
Quoting The Cableguy
{quote} gap close (close value each night), nowadays.
Good to see you again CG! Health issues any better?

In regards to the close value, is that the close at 4:15 EST? I still have Volume base market profile on my chart. I mark Value High, Value Low, and POC only.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #8,891
  • Nov 10, 2018 2:48pm Nov 10, 2018 2:48pm
Quoting The Cableguy
{quote} You need MP info, then recreate the lines across from the profile info. Using either 'Time' or 'Volume' (i kept both on my profile - time on left in green and volume on right in red). You get your Extremes, POC, Value high and low and then you can also see 'valleys' or 'high value nodes'. I also found that 'singles' would usually get revisited. Too many lines though and it gets too cluttered, which is why i only add HOD, LOD and gap close (close value each night), nowadays. {image} {image} {image}
Thanks CG. Would you be able to share a "template". I don't know what a template is called in Sierra...like a collection of studies that I can see what you are seeing.

Hope you are doing well and recovering from your situation
Staying in my lane...
  • #8,892
  • Nov 10, 2018 3:04pm Nov 10, 2018 3:04pm
Quoting VEEFX
{quote} Care to share a screenshot as I am not following how to "place" a market profile at SD level. My testing also reveals there is a lot of merit. Personally, I don't like guess work or "sometime it works and sometimes it doesn't" or "nothing works all the time" type crap. I have to know when/why it works and when/why it does not with a decent statistical bias to put bog $ on the line.
Just place it at the areas you think look interesting and see what happens when price returns to those areas
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So many in the Commercial section want to make me rich! :o
  • #8,893
  • Nov 10, 2018 7:42pm Nov 10, 2018 7:42pm
Quoting FX-Flux
{quote} Just place it at the areas you think look interesting and see what happens when price returns to those areas {image} {image}
Interesting to see profile on a candle by candle basis. Thanks for sharing. At times I feel these fancy charting features are created (funded?) just to create more order flow lol
Staying in my lane...
  • #8,894
  • Nov 11, 2018 1:29am Nov 11, 2018 1:29am
Quoting VEEFX
{quote} Interesting to see profile on a candle by candle basis. Thanks for sharing. At times I feel these fancy charting features are created (funded?) just to create more order flow lol
When I see orderflow on the whole chart it really messes everything up for me. I just like to spot a potential opportunity and place a market profile in that area to see if there’s a better entry
So many in the Commercial section want to make me rich! :o
  • #8,895
  • Nov 11, 2018 11:13am Nov 11, 2018 11:13am
Quoting FX-Flux
{quote} When I see orderflow on the whole chart it really messes everything up for me. I just like to spot a potential opportunity and place a market profile in that area to see if there’s a better entry
Research continues but so far, I am finding an appraoch to be of some merit. It's a combination of breakout and pullback right after the first 5 mins of nyse open using profile starting at nyse open. In real time, these peaks and valleys are formed rapidly a d taken out rapidly as well.

My solution that I am testing currently involves breakout of 5 min level with 12P TP as my daily goal ($1000/4contracts). I remain undecided on initial stoploss ATM. At 5P, move SL to 1P and at 10P, move SL to 5P profit lock and remove TP to let it run for however long with 5P trailstop and auto-flatten at end of first NYSE hour

Second option is to scale in 1 contract at a time at each peak/valley between the high/low and POC or VWAP. and run with TP at 12p and auto-flatten at end of first NYSE hour

I am used to volatility at news time or at session open so this is where my focus is going to me. "Fastest amount of points in the lowest amount of time" seems to be a good mantra to follow :-)

I hope my efforts with market replay will be similar to live as I am simply playing with DATA resulting in levels with no subjectivity. More testing contnues. Also, if I get first loss in one direction, that direction is done for the day. Look only at the other direction for 2nd trade. Two loss in a row and I am done trading for the remainder of that week.
Staying in my lane...
  • #8,896
  • Nov 11, 2018 11:59am Nov 11, 2018 11:59am
Just watched a youtube video where the guy mentioned you could get 100 contracts filled on ES without slippage. Could that be right? Cause about 20contracts for only 4ticks would be a good payday. Lol
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  • #8,897
  • Nov 11, 2018 12:16pm Nov 11, 2018 12:16pm
Quoting bapakjason
Just watched a youtube video where the guy mentioned you could get 100 contracts filled on ES without slippage. Could that be right? Cause about 20contracts for only 4ticks would be a good payday. Lol https://youtu.be/s5c85gLPDU8
A good bit of the time during normal trading hours there are several hundred contracts showing on DOM at each level. ES does about 4 times the volume of NQ. I have never done it personally but I could see 100 contracts easily getting filled with no more than a tick of slippage and most of the time zero slippage. If you get a chance pull up a DOM and watch during the normal trading hours. It's amazing how much volume it does in comparison to NQ.
  • #8,898
  • Nov 11, 2018 1:21pm Nov 11, 2018 1:21pm
Quoting bapakjason
Just watched a youtube video where the guy mentioned you could get 100 contracts filled on ES without slippage. Could that be right? Cause about 20contracts for only 4ticks would be a good payday. Lol https://youtu.be/s5c85gLPDU8
This lakai dude from tradeitdontdateit.com was trading 500 contracts @ 50 via market orders in 2016/17.
Staying in my lane...
  • #8,899
  • Nov 11, 2018 1:27pm Nov 11, 2018 1:27pm
Quoting VEEFX
{quote} This lakai dude from tradeitdontdateit.com was trading 500 contracts @ 50 via market orders in 2016/17.
Potential is tremendous on ES if you've got a strategy that works for a smaller range than nq.
For now, i am loving nq momentum
  • #8,900
  • Nov 11, 2018 1:42pm Nov 11, 2018 1:42pm
Quoting bapakjason
{quote} Potential is tremendous on ES if you've got a strategy that works for a smaller range than nq. For now, i am loving nq momentum
Agree Jason. I just started looking into ES since last week. NQ is better for breakouts and ES is probably better for pullback or mean reversion type strategy. ES is definitely better for big size position as NQ will hang you upside down and rip your heart out if you are on the wrong side. I hate such videos as he talks about taking trades without showing it plus I doubt he trades 100 contracts. more like fake news to me talking the charts and not showing the actual trades like our hero Mr. D :-
Staying in my lane...
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