CL Light Crude Analysis TPO/MP/VWAP/VPOC

January 9th, 2013, 10:55 AM

greenr

Nice.....Very nice

I just closed out...was looking for 92.80

are you playing attention to the current moths Vwap yet?

Attachment 99080

No, its too early. Last month's VWAP are still in play. Note that we were hanging out right at the 3rd SD close level which has served as resistance.

January 9th, 2013, 01:48 PM

this is what i saw today

January 9th, 2013, 05:40 PM

Private Banker

OK, the first thing to know about trading is we aren't looking for "profits", we're managing risk. That means, we want to establish a position and protect it by taking profits at key levels or at a minimum, levels that will give us guaranteed protection.

I manage my positions in 1/3s and scale out to protect my position while reloading at key retracement levels. You don't need to trade in 1/3s but that extra 1/3 scale guarantees a profitable trade when taken off. 1/2s are tough but still doable. If you're trading with a smaller a/c, just work on a 2 lot with your first scale guaranteeing a BE while the second could be at a key tactical level. Once your account is at a level to trade in 1/3s, then look to add a runner. Its very difficult to hold onto a 1/2 position psychologically. I won't share all details of what and how I manage and enter/exit positions but that's the gist of it.

My new years resolution is to beat this into my head. I sure as hell hope it does not take the entire year to learn.
I know deep down that if I can do precisely what you are talking about that many of my fears would go away.

I can't even do it in market replay right now. I keep taking profits at 10 and 12. when I trade live I do the same damn thing.

I have the 20k cash to run two contracts and accept a 20 tic loss on 2 contracts at a 2% loss.

the memories of 10k losers screwing around in trades I had no business in..... still haunt me.

The only way I am going to re-train my head is hours of market replay and sim trades. 2 contracts, taking profit at 12 on the first and moving my stop up on the second.

thank you for your comments. They resonated Lima Charlie.

Untill I learn to do precisley what you and many others have been telling me I will continue to get what I have always gotten

January 9th, 2013, 05:51 PM

Kulu/PB Greenr,
I have been reading this tread and reading the posts. Can you tell me what TPO software you use? I've been using GOM MP and looking to add TPO for market structure.

Thanks uin advance.

January 9th, 2013, 06:10 PM

Patrick S

My new years resolution is to beat this into my head. I sure as hell hope it does not take the entire year to learn.
I know deep down that if I can do precisely what you are talking about that many of my fears would go away.

I can't even do it in market replay right now. I keep taking profits at 10 and 12. when I trade live I do the same damn thing.

I have the 20k cash to run two contracts and accept a 20 tic loss on 2 contracts at a 2% loss.

the memories of 10k losers screwing around in trades I had no business in..... still haunt me.

The only way I am going to re-train my head is hours of market replay and sim trades. 2 contracts, taking profit at 12 on the first and moving my stop up on the second.

thank you for your comments. They resonated Lima Charlie.

Untill I learn to do precisley what you and many others have been telling me I will continue to get what I have always gotten

Patrick S, maybe your doing this already, but I see your using ninja, it's very easy to set an automatic stoploss/profit target on your dome. IF the stop is already in, you have to think about canceling it. Makes you think twice before doing so. Also, don't be afraid in Replay to do the same move or session repetedly.
Also spend time in the psychology section of this forum. Your first sentence is your post will eventually turn to something like "I have no fear so I will do exactly what I need to do"

just some thoughts. good luck

January 9th, 2013, 06:25 PM

jngrim

Kulu/PB Greenr,
I have been reading this tread and reading the posts. Can you tell me what TPO software you use? I've been using GOM MP and looking to add TPO for market structure.

Thanks uin advance.

There are a few and they all vary in price

The best being the ranch software that comes with the whole package

Vwap, TPO, Volume foot print and volume profile and some other bits

Rancho Dinero | Acme Time Price Opportunity Pack

There are these guys which i believe BoB has used

Final - Home

and finally im currently using these guys

NinjaTrader,Market Profile,coding,programming,indicators,educator

Take your pick

January 9th, 2013, 08:33 PM

Patrick S

My new years resolution is to beat this into my head. I sure as hell hope it does not take the entire year to learn.
I know deep down that if I can do precisely what you are talking about that many of my fears would go away.

I can't even do it in market replay right now. I keep taking profits at 10 and 12. when I trade live I do the same damn thing.

I have the 20k cash to run two contracts and accept a 20 tic loss on 2 contracts at a 2% loss.

the memories of 10k losers screwing around in trades I had no business in..... still haunt me.

The only way I am going to re-train my head is hours of market replay and sim trades. 2 contracts, taking profit at 12 on the first and moving my stop up on the second.

thank you for your comments. They resonated Lima Charlie.

Untill I learn to do precisley what you and many others have been telling me I will continue to get what I have always gotten

Glad this is helpful. That is my only intent on posting this information. I'm not looking for any personal reward or confirmation obviously. I realize trading is incredibly hard especially the psychological aspect of it. You can have the best trading method possible but without the confidence and belief in yourself, you will have a hard time with reaching true success.

If you can, save your $20k until you're consistently profitable and most importantly extremely confident in yourself, it may make a huge difference in your trading career. Yeah, SIM trading is nowhere near the feeling of live trading but you have to act as if it is. Change your SIM account balance to what you'll have in live trading. Trade the exact same way until you're reaching your trading goals and lightly transition into live trading.

Don't fret on the past because its nothing but the past and no matter how hard you worry about it happening again, it won't provided you implement what you learned from the experience. Everyone goes through it and you just have to forget about it and focus on trading the market. Taking losses are just business but your edge should provide you with a favorable advantage.

For trade management on 2 lots, maybe cover your first lot at the equal amount you're risking with the second being either a runner or with a target at an attainable tactical area. Once you get this down and increase your profitability and account size (in SIM), look to add a 3rd for a runner. As I mentioned earlier, its very hard psychologically to hold on to half a position which is why its sometimes easier to have a target in place vs. just letting it run. Don't get me wrong, its certainly possible but just a bit harder psychologically.

Cheers,
PB

January 10th, 2013, 09:15 AM

Open gap up out of range but within ON session's "value" with rejection /responsive selling.

January 10th, 2013, 09:18 AM

Today i sold the open

We opened way oout of balance

We open up at the highs of single print TPO`s and a TPO ledge from 9/21/2012 and 10/10/12

We opened up in the upper end of the 1st upper dev Vwap in ETH hrs

i short the highs on the open in this area

Looking for possible rotations down into the 6 day bracket below

If we dont see buyers respond on the downwards auction

January 10th, 2013, 09:57 AM

2 TRADES....rht chart here....missed a bunch of shorts along the way,...next sh area ....10

CL Light Crude Analysis TPO/MP/VWAP/VPOC

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CL Light Crude Analysis TPO/MP/VWAP/VPOC