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Market Profile Trading Academy / MissTrade's Matt Davio - Ask Me Anything (AMA)

  #4 (permalink)

Bend, Oregon
Trading Experience: Master
Platform: Ninja
Broker/Data: Ninja/Amp TOS, IB
Favorite Futures: NQ
MissTrade's Avatar
Posts: 63 since Mar 2013
Thanks: 5 given, 64 received

TPO and Volume Profile


Thanks for allowing this open feed and kicking of the start of questions.

I do utilize both Market (TPO) profile for my shorter term intraday charts along with going back about 3 weeks. I utilize these along with my longer term time frames charts which primarily focus on the Volume Profile. I find that the combination of both these tools helps me with the puzzle pieces that are this game of Markets. I do a top down look at the markets going back over 10 years to find long term trends and break it all the way down to the shortest time frames. Utlizing the Volume Profile here helps great find the areas of interest and control for me. The TPO is important in the intraday view more than the volume profile. I do consider Time more important that price, that is the more time at a price is more important than one tick at a single price for example.

I am definitely a daytrader if opportunities arise, however, I don't like to scalp, my goal for the day as a daytrader is to pull out 1/4 or 1/2 of the total range the day trades. So if the ES was 20 pts wide today, if I was successful I was able to take out 5-10 pts out of my daytrading efforts. I usually am able to do this if successful in 1-3 trades maximum. That being said, I have no problem swing trading positions, and those typically last 1 day to 4 weeks. I do utilize options in some of my longer timed trades along with futures.

Your 3rd question is not a simple answer. The ES has probably been my least favorite financial to trade over the 2013 campaign due to the severe dryness in total intraday ranges. I prefer the more wide NQ at this point as the ranges are so muted in the ES right now. I'm not much of a Pattern guy, i still prefer time over patterns and ultimately time over price. I know it sounds strange, to some, but when you view Time at price, I think it actually simplifies the decision making process.

There are times to fade the profile, go with the trend, and/or trade counter trend. It really depends upon where we have been and helping me to pick spots on where we may or may not go. I always write a daily narrative on the different futures vehicles I trade and have contingent narratives based on where I think the market could trade. That being said, the market doesn't always do what I want when I want, so you must be able to recognize when a plan goes bad, and have either and adjustment, or decide that the day has beat you and wait for better setups in the next trading days ahead. There will always be another day in free markets.

Looking forward to more questions from the Forum!

Thanks again Mike,


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