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#46 (permalink)
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Elite Member
San Francisco Bay Area
Trading Experience: Intermediate
Platform: NT,TOS,IB
Favorite Futures: ES,CL,TF
Posts: 278 since Jun 2010
Thanks: 154 given,
268
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He wants you to sim-trade during the first six months with active journaling on both the technical and psychological aspect of the trades. This follows from his beliefs that it takes some time to rewire your brain to what come's naturally i.e. taking quick short profits but hoping that the losers become profitable. Repeated success with a system (in sim) helps builds the confidence you need to stick to it when it is real money at stake. I have not seen or experienced anything yet which would suggest that that his approach is not valid.
That is the impression I have too. That the basic technical understanding is good and for some one who is not familiar with understanding order-flow and market-profile, his approach is quite good. For some one who already understands those aspects very well, of course it is 15 minutes stuff as you say. But for those who do not understand those aspects well or a beginner it is a good lesson. Definitely worth spending a month or two understanding.
I think this is a much better information/criticism. I will keep that in mind when I review the stuff.
In his room scalping is not something he talks about in any significant way. His focus primarily has been on identifying a couple of scenarios which are likely to happen pre-market, then observing order-flow to confirm that the market is responding in the expected way or not, and accordingly adapting the trading plan with well defined exit points. It has a very strong and clean focus on using very short time-frame order flow information to confirm the larger time-frame hypothesis built upon volume and market profiles.
BTW I found the videos on youtube also.
http://www.youtube.com/user/learn2stocktrade#p/u/1/l9oNlPBpA1I
Brian the second speaker, talks a lot about shorter term balances, retracements etc. and how to build and monitor expectations around shorter term market action within the backdrop of the longer term perspective.
I am not sure I have watched all the DOM stuff yet, but from whatever little I have watched, there have been certain specifics which do help provide the clues you would need a more systematic scalping strategy.
From your words, it does seem that you are a successful trader and the issues which Kam is trying to address are not something you need help with. I think that is great.
Last edited by aviat72; October 10th, 2010 at 11:05 PM.
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