another meeting another missed opportunity trading DOW fib + camarilla H3 would have been nice entry{image}
All charts/ideas based on UK time zone
- #1,325
- May 20, 2019 11:06am May 20, 2019 11:06am
- Joined Dec 2017 | Status: Trader | 3,743 Posts
I don't need to be good at the game, only good enough to beat my opponent,
- #1,326
- May 20, 2019 1:09pm May 20, 2019 1:09pm
- Joined Dec 2008 | Status: Trader | 2,931 Posts
persistence and determination alone are omnipotent
- #1,327
- May 20, 2019 1:48pm May 20, 2019 1:48pm
- Joined Dec 2017 | Status: Trader | 3,743 Posts
I don't need to be good at the game, only good enough to beat my opponent,
- #1,328
- May 20, 2019 1:51pm May 20, 2019 1:51pm
- Joined Dec 2008 | Status: Trader | 2,931 Posts
persistence and determination alone are omnipotent
- #1,330
- May 20, 2019 2:35pm May 20, 2019 2:35pm
- Joined Dec 2008 | Status: Trader | 2,931 Posts
persistence and determination alone are omnipotent
- #1,331
- May 20, 2019 2:54pm May 20, 2019 2:54pm
{quote} Wanted to add some things Used tape and other tools until 2013 or 2014. Later couldn't collect ticks from good data feed. Turned to MT4 that suited perfectly to my needs. Now have some calc on excel via DDE that sometimes spit out some numbers that are better for trend start less for resume after retracement. Some PA reading, some levels. Rely a lot on intuition hence all the bailing. I remember that tape on 6E was quite useless in 2013 but never tried on CL. Never used MP (only VP) but I see that it is a very clever way of trading, with...
) but honestly I think for the reasons mentioned dom/tape adds zero edge only hindrance. we cannot think as fast as machines so best to let them play their games and we play ours (context).when I say tape I mean cumulative delta, I do use that extensively for CL. not fussed about minute by minute spikes in delta but can be very useful just to see who is in control, who is pushing and winning, who is pushing but not getting paid (likely to bail) and so on, more swing to swing not second by second like the dom which is just way too detailed and unnecessary imo! I tried dom for a while but I could never remember the last 5 prints let along the last hour or day lol. kudos to those that can use it but honestly it just seems like a load of nonsense to me. works as much as it doesn't but leaves you with a headache when you finished.
I think context is king if you can nail that (ie hypothesis for the day or for the morning) then one can afford to be a little sloppy with entries and in fact I truly believe one must accept they WILL BE sloppy with entries. build a thesis and stick to it until the market really disproves it! and that doesn't mean an iceberg order or a bunch of contracts being lifted. unlike books which paint this picture of perfect entries and perfect stop loss locations, as we all know the reality is it is impossible to get the entry perfect even if one's overall read on the market is correct. therefore I usually just buy if I have a long context and vice versa and massage my position/cost basis both as market moves in my favour and against. a satellite core approach. probably one of the hardest things to learn but vital imo.
excellent question re Asian session. simple answer - I don't trade it for exactly the reasons you mentioned. zero volume (1-200k contracts entire session vs 3-4x that in RTH depending on time of year?) not worth the headache imo. I find the moves incredibly choppy (due to lack of liquidity) and with "usually" very little follow through. of course every once in a while there will be a beautiful move but I realised over time I was never going to catch everything so why worry. its like I would be down mon tues wed thurs just to catch the big move Friday or some variation. then I realised it was a waste of my emotional mental and monetary capital when I actually isolated that sessions profits over a month or few months etc! rth I find it so much easier to read it, once the games are out of the way at the open (if any) boom it just goes - there is fuel/volume!
I love TPO/volume profile but we all use it to some extent. "congestion" areas on a chart after all are just big volume nodes. I just find the profile helps me pick these areas out easier, I can also see which areas the market is balancing in and therefore likely to go retest.
Loads of things work we just have to find what works for us I guess. thanks for the comments!
- #1,334
- May 20, 2019 4:59pm May 20, 2019 4:59pm
- Joined Dec 2017 | Status: Trader | 3,743 Posts
I don't need to be good at the game, only good enough to beat my opponent,
- #1,336
- May 21, 2019 1:31am May 21, 2019 1:31am
- Joined Dec 2008 | Status: Trader | 2,931 Posts
persistence and determination alone are omnipotent
{quote}... I don't watch the "dom", never understood the fuss. seems to be all the rage now (even in prop where failure rate btw is 95% as well
- #1,338
- May 21, 2019 4:39am May 21, 2019 4:39am
- | Joined Apr 2018 | Status: Trader | 1,732 Posts
All charts/ideas based on UK time zone
- #1,339
- May 21, 2019 5:09am May 21, 2019 5:09am
- | Joined Apr 2018 | Status: Trader | 1,732 Posts
All charts/ideas based on UK time zone
- #1,340
- May 21, 2019 5:10am May 21, 2019 5:10am
- | Joined Apr 2018 | Status: Trader | 1,732 Posts
All charts/ideas based on UK time zone