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PATS Trading Psychology Or Mack's Soapbox
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PATS Trading Psychology Or Mack's Soapbox

  #51 (permalink)
Elite Member
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Yes I have switched to NT8 and I am using the factory order flow volume profile. Comes from watching all those FT71 you tubes, makes me feel like the chart is naked without it.

I also run Ed'sd Level2DOM on the right edge. Most of the time it is not helpful but occasionally you see a big bar.

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  #52 (permalink)
Elite Member
Boise, Idaho/USA
 
Trading Experience: Advanced
Platform: Ninja Trader
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Posts: 93 since Sep 2014
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Leon of Pizza,

Sorry wasn't clear on Tharp. He is talking about calculating your trade size to avoid risk of ruin.

Mack is pretty clear that he is showing a simplified method and refers to Al Brooks for those who want a deeper dive. I say this because I extend the concept to Mack's choice of stops and targets. He is using numbers that have worked for years. Now given the higher volatility he has suggested stretching things a little. But your program of looking at the rotations and their sizes matches up with FT 71 who is frequently running calculation on the average rotation. And that makes intuitive sense, a more volatile market with bigger moves should be treated differently.

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Unread   #53 (permalink)
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Become seasoned


Very important chart lesson, with a clear wisdom at the end.

Listen to it


“Happiness is the meaning and the purpose of life, the whole aim and end of human existence.” Δ
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