I started this thread to begin tracking my study on a more accountable level. I'm a believer in a team approach to everything. I've was a musician part of my life and I'm consciously aware of the level of music that can be created though the collaborative talents of 2 or 3 individuals, who are very independent of each other, yet compliment each other in distinctive ways. I see it all different aspects of life, whether its a brain surgeon, or pilot, or any successful person. He is who he is because he stands on the shoulders of giants. My plan now is to collaborate with the CL room and futures.io (formerly BMT) traders and further develop a successful management and trading strategy that's tested and tried. My future plan is to develop a successful trading team, that trades together in person. I've written up this job description to help me compartmentalize what I'm doing.
"Mastering the market is not possible. Who can predict the behavior of a beast with unlimited personalities and personality disorders but one with equal personalitiy disorders." "If I am the master of ONE settup = I am king for life".
The Turtle Trade
EXPERTS
1. Key reference areas - Market Profile
Position - Location. Tells us where big buyers/sellers will put on positions
2 Divergence - 30 minute divergences
Position - Evidence of that big buyers/sellers are putting on positions
Trade Management
3 Order flow analysis
Position - Timing
Order entry
Risk management
JOB DESCRIPTION:
Expert of key reference areas
This person is an expert in the use and application of Market Profile theory and trading strategies.
Responsibility: to identify key reference areas where big traders wil put on positions.
Time Frame: Weekly, Daily
Style: TPO and volume profile
Team position: Location of Price levels
JOB DESCRIPTION
Expert of delta volume
This person is an expert in the use and application of delta volume. Revealing underlying evidence that big traders are positioning themselves for price rotation at the key reference areas.
Responsibility: to identify evidence at the key reference areas that big traders ARE putting on positions. Price is preparing for a rotational change of direction.
Time Frame: 30 minute
Style: Volume profile
Team position: Evidence of big traders positions
Identifies location to took for entry timing
Identifies primary, secondary, and tertiary objectives
Management of trade for maximum profit levels
JOB DESCRIPTION
Expert of Order Flow Analysis
This person is an expert at reading and analyzing order flow.
Responsibility: Risk management through analysis of order flow and volume to validate trade entry at the determined price location. Identifies the exhaustion of one direction and the validation of the rotational change as evidenced by order flow and volume. Risk management of trade until first objective is achieved and risk is eliminated from the trade position.
Time Frame: 7 range
Style: Volume Ladder
Team position: Timing and Order Entry
Risk management until risk is eliminated