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Volman meets Burke or My journey with PA

  • #281
  • Sep 27, 2022 11:28am Sep 27, 2022 11:28am
Quoting turnip15
{quote} But I found his video's (his voice) soporific. Fortunately, many of them were annotated and updated with text as the video's ran forward - so one could turn the sound off and read the text along with the charts

I'm going to actually read the books. That way it's my head voice and not Brooks.
Mark ... Everything you have been told is a LIE
  • #282
  • Sep 27, 2022 11:30am Sep 27, 2022 11:30am
Quoting spzd
TPA:Trends by ABrooks " ... Just look at Edwards and Magee. The best traders in the world have been using those ideas for decades and they continue to work, again for the same reason—charts look the way they do because that is the unchangeable fingerprint of an efficient market ..."
these 2 are worth a read
Attached File(s)
File Type: pdf the_candlestick_trading_bible.pdf   2.7 MB | 230 downloads
File Type: pdf Powerful candlestic parten .pdf   368 KB | 245 downloads
  • #283
  • Sep 27, 2022 12:56pm Sep 27, 2022 12:56pm
Quoting spzd
{quote} I'm going to actually read the books. That way it's my head voice and not Brooks.
That's the way to do it
every Saint has a past. Every Sinner has a Future
  • #284
  • Sep 27, 2022 5:18pm Sep 27, 2022 5:18pm
Mr Burke at it again doing his motivation. Did not know you could cover so many aspects in such a short time frame ...


Inserted Video
Mark ... Everything you have been told is a LIE
  • #285
  • Sep 27, 2022 5:35pm Sep 27, 2022 5:35pm
TPA: Trends by Brooks

"...
Television experts are also useless.
..."
Mark ... Everything you have been told is a LIE
  • #286
  • Edited 6:15am Sep 28, 2022 3:26am | Edited 6:15am
Gold so far. rarely trade this but liked the lines when looking at a few charts.
May have got in late on first pinky but spotted double bottom (second pinky from left)
Third pinky was a DB bounce of level 1618 reinforced by tight consolidation of tails after first pinky ( also a "W
If I missed or misinterpreted my SB combo please comment.
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every Saint has a past. Every Sinner has a Future
  • #287
  • Sep 28, 2022 3:51am Sep 28, 2022 3:51am
Lastly DAX -not traded by me but I marked up a Pump and Dump on the ONE minute chart but when going out to a 15 minute chart it seems invalid or worse - the wrong way round ( long instead of short) ???
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every Saint has a past. Every Sinner has a Future
  • #288
  • Sep 28, 2022 10:02am Sep 28, 2022 10:02am
Been tracking the SP500 until just now - stop at 4pm UK time.

Marked levels, pins etc as I went -Highest price reached was ADR High and a BRN.
Good exercise ( for me) in marking levels prior to and observing during trading
Finished for the day.
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every Saint has a past. Every Sinner has a Future
  • #289
  • Sep 28, 2022 11:30am Sep 28, 2022 11:30am
Always the motivator ...

Inserted Video
Mark ... Everything you have been told is a LIE
  • #290
  • Sep 28, 2022 11:34am Sep 28, 2022 11:34am
Many truths in that video.

Keep it simple. Highs and Lows.

This is all you really need. The other helps with daily bias and keeping trades longer. I am looking more for the get in, make my profit, then get out and go on with my day.
Mark ... Everything you have been told is a LIE
  • #291
  • Sep 28, 2022 1:12pm Sep 28, 2022 1:12pm
TPA:Trends by Brooks Emphasis mine

" ...
If you want to
compete, you must minimize all distractions and all inputs other than what is on the
chart in front of you, and trust that if you do you will make a lot of money. It will
seem unreal but it is very real. Never question it. Just keep things simple and follow
your simple rules. It is extremely difficult to consistently do something simple, but
in my opinion, it is the best way to trade. Ultimately, as a trader understands price
action better and better, trading becomes much less stressful and actually pretty
boring, but much more profitable.
... "
Mark ... Everything you have been told is a LIE
  • #292
  • Sep 28, 2022 10:15pm Sep 28, 2022 10:15pm
I have this thing with trying to work out the best schedule to trade.

I will be trading the MES in the am. That's a given. The more I thought about it the more it became obvious that I could trade both side by side. So, for the umpteenth time ...


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Mark ... Everything you have been told is a LIE
  • #293
  • Sep 28, 2022 10:22pm Sep 28, 2022 10:22pm
By my calculations I will likely at some point convert to trading MES only.
Mark ... Everything you have been told is a LIE
  • #294
  • Sep 28, 2022 10:38pm Sep 28, 2022 10:38pm
Quoting spzd
By my calculations I will likely at some point convert to trading MES only.
Can you possibly keep updating your journal on your steps towards trading MES?
I think I'd be interested in trying my hand in this market as well, but I've only ever traded forex and the occasional gold cfd etc.

Not sure of position sizing or anything like that.
Empty your mind and let the market guide you
  • #295
  • Sep 28, 2022 10:51pm Sep 28, 2022 10:51pm
Quoting SunnyCoast
{quote} Can you possibly keep updating your journal on your steps towards trading MES? I think I'd be interested in trying my hand in this market as well, but I've only ever traded forex and the occasional gold cfd etc. Not sure of position sizing or anything like that.
Yes.

I have SP500 cfd on my prop account. Have not traded it yet. The futures contract MES micro e-mini sp500 traded on the CME. It trades at $1.25 a tick/$5 a point. My margin is $40 per contract.

Catch a move like today and you can make some decent change.
Mark ... Everything you have been told is a LIE
  • #296
  • Sep 28, 2022 11:19pm Sep 28, 2022 11:19pm
Quoting spzd
{quote} Yes. I have SP500 cfd on my prop account. Have not traded it yet. The futures contract MES micro e-mini sp500 traded on the CME. It trades at $1.25 a tick/$5 a point. My margin is $40 per contract. Catch a move like today and you can make some decent change.
Hi SPZD

Can I say it, your’e moving over to the dark side trading MES where the edge comes from being able to read exactly when buyers and sellers are entering the market. See the moment delta violently flips to one side irrespective of candle shape is a eye opener.
Without trading with volume information, there is no advantage trading Futures.

I can remember you making a comment a month back the buyers and sellers are always equal, I am hoping you might revaluate that comment. Trading is simple, lines are good - the magic comes from understanding where the market is about to go 1/2 second before it occurs.

Enjoy MES, there’s a few other market gems as well.

Cheers
Trading thin liquidity at the boundary of the charts
  • #297
  • Edited 7:58am Sep 29, 2022 7:20am | Edited 7:58am
Quoting RickM
{quote} Hi SPZD Can I say it, your’e moving over to the dark side trading MES where the edge comes from being able to read exactly when buyers and sellers are entering the market. See the moment delta violently flips to one side irrespective of candle shape is a eye opener. Without trading with volume information, there is no advantage trading Futures. I can remember you making a comment a month back the buyers and sellers are always equal, I am hoping you might revaluate that comment. Trading is simple, lines are good - the magic comes from understanding...
Hey Rick,

Messing with that volume hoodoo is definitely the dark side. Not new to futures. Have traded about the entire gamut of products including seasonal spreads on the cattle. This is not my first jab at the MES. Hmmm, funny, my first time was using volume. Likely not your mystery sauce, but volume nonetheless. It was a failure.

Buyers = Sellers

When I say this, I mean the contracts or lots are equal. Zero sum game and all you know. There may be more physical buyers than sellers and vice versa. What actually moves the market though is debatable.

I am sure that your magic is very exciting. But hey, I enjoy the peaceful meanderings of my basic price action.

Not to be an ass, but where the arrow points is a spot that causes issues with all the general theories about market movement and market participants. At east in my mind. Does your hoodoo predict that very moment when price will stop there. I ask this same question to all who espouse their ways are THE way.

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I readily admit that with my method I can not answer the question. The beauty is, it really doesn't matter. I play the probabilities that once that bar is confirmed price should move up. How far? I have no clue. Don't care much about that either. My trade management works fairly well (may need some minor adjustments).

Moral of the story is, volume means diddly to me. If you use it more power to you.

Take care

edit: forgot the pic ...
Mark ... Everything you have been told is a LIE
  • #298
  • Sep 29, 2022 9:19am Sep 29, 2022 9:19am
I rarely post any live trades. Why you may ask. Because I also have losing trades. At this stage some days are more than the wins. I will not be the reason some fool losing a trade (even though it is their fault in the end).
Mark ... Everything you have been told is a LIE
  • #299
  • Sep 29, 2022 1:11pm Sep 29, 2022 1:11pm
Finished reading Volman. He is mainly a breakout trader. He has a set structure. His trading does not make use of highs and lows the same as Burke. I have come to like Burke's methodology and will continue to use it as my main framework.

Volman trades off the 5-minute vs the 15-minute for basic Burke. The M5 makes it easier to see the ranges needed for breakouts. Volman defines ranges by drawing a rectangle around them. With the aid of a 25 period ema he lets PA get him in. Most of his PA is a break of the EMA or trendline - which he calls pattern lines. Volman then goes on and shows, quite extensively, examples of his method. He does a daily breakdown of 3 months of trading.

I am going to incorporate Volman's man theories into my current interpretation of Burke and see which way things go. I have basically already done this on the MES as I am starting to read Brooks 3 volume opus (not going back to his first book as he says these three put that one to shame).

Always still learning. Still doing some tweaking. The tweaking in PA is nothing like that of indicators.
Mark ... Everything you have been told is a LIE
  • #300
  • Sep 29, 2022 1:45pm Sep 29, 2022 1:45pm
Quoting spzd
By my calculations I will likely at some point convert to trading MES only.
Spread betting in the UK ( UK citizen) is popular because the proceeds are tax free but you can only, as far as I know, trade CFD's.
I have traded Futures ( Dow and Nasdaq) with US brokers with $40 margins ( you need to carefully research them) and was impressed by the tight spreads and speed of transactions. But EMSA ? regs. in UK now require much bigger margins to trade with spreadbet firms resulting in many going offshore to Australian firms or other countries to trade via CFD's or trying American Futures brokers. Many traders who stay with UK spreadbet firms, despite the larger requirement in, 5% as opposed to 0.5%, margins- unless classed as a professional - do so only for tax exemption purposes.
I believe CFD's are not allowed in the USA. Thus Futures only there.
Should also add that there is growing interest in prop firms ( USA and the UK for example) for confident but under funded traders to flex their trading muscles
every Saint has a past. Every Sinner has a Future
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