futures.io - futures trading strategies, market news, trading charts and platforms

Trading Reviews and Vendors

Discuss and review vendors of commercial trading products, trading rooms and services, trading indicators or third-party paid add-ons



  #23 (permalink)

new york
Trading Experience: Intermediate
Platform: ninjatrader
Broker/Data: mb trading
Favorite Futures: 6e
bobbyacim's Avatar
Posts: 184 since Feb 2010

bobbyacim View Post
If someone could step me thru uploading a word document screen shot of two succesful trades I made on the ES a few days ago that neted 7 points using a few techincals for confirmation and MOST importantly market profile tool, I would be happy to share..

Took two winning trades last nite on the 6e for $300 . I studied the the prior market profile and saw a huge upward distribution with range breakout to the upside and CLOSE was at the directional extreme, many minus development areas along the unfair high of the move up. When the nite session opened, the Initial balance rotated backed down into prior's profile minus developemnt, which is usually a safer place to take a trade, you want as much minus development between your entry and stoploss. Went long when price bounced out of the current value area for a long; first target was current POC, second target was current Value area high, both targets reached.

Steidlmayer called market profile a decision assit tool NOT A TRADING SYSTEM and I tend to agree. That is why I have my trade setup on the right side of the market profile screen as the action is going on. My confirmaton for entry signal comes from my overbought/oversold Stoch and my exit is the opposite edge of a keltner band.

Since keltner calcs. the average of a movement, I do not want to push my luck staying in a move after it has exceeded its average range as indicated by the keltner band.

Last edited by bobbyacim; April 8th, 2011 at 07:41 PM.
Visit my Facebook Reply With Quote