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Indicators, a waste of time?


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Indicators, a waste of time?

  #191 (permalink)
 ZB23 
Atlanta Metro Area
 
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I sense there is great value in deeply learning how to read a DOM in the context of market profile. Unfortunately, I just don't have the time to learn an entirely different way of trading.

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  #192 (permalink)
Ecclesiastes
Las Vegas NV USA
 
Posts: 19 since Jan 2019
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You don't have to read the DOM. It does help, and is not as hard as it is made out to be.

A basic volume candle chart with a vol-profile and a fundamental understanding of the market is all you need. I have seen plenty of successful traders do it that way. And they, too, do it without indicators.



R
Fred




ZB23 View Post
I sense there is great value in deeply learning how to read a DOM in the context of market profile. Unfortunately, I just don't have the time to learn an entirely different way of trading.


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  #193 (permalink)
Ecclesiastes
Las Vegas NV USA
 
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I mis-spoke on that slide.. the large transactor was 300 on the bid. Means he sold mkt. I was limit-sell-on-the-offer @87.5

Fred

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  #194 (permalink)
 Dasani 
United States of America
 
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Ecclesiastes View Post
I mis-spoke on that slide.. the large transactor was 300 on the bid. Means he sold mkt. I was limit-sell-on-the-offer @87.5

Fred

Looks like one contract in sim?

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  #195 (permalink)
Ecclesiastes
Las Vegas NV USA
 
Posts: 19 since Jan 2019
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It's a live trade. I traded live in the IRA TDAmerica acct (that's the trade ticket at the top of the pic).
Just running SC in sim.


Dasani View Post
Looks like one contract in sim?


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  #196 (permalink)
 Dasani 
United States of America
 
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Ecclesiastes View Post
It's a live trade. I traded live in the IRA TDAmerica acct (that's the trade ticket at the top of the pic).
Just running SC in sim.


Oh, okay. :-)

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  #197 (permalink)
 n7ekg 
Plano, TX
 
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Ecclesiastes View Post
For those interested. This is my bread + butter setup.

Take this and ignore it, or use it. It does not matter to me. I am merely stating the truth. Truth demonstrated through evidence and experience.

I reiterate for the record, you do not need indicators. You need to know how the market works.

I am an institutionally trained, independent retail trader with Chicago floor experience. I have been trading for my entire adult life, with alot of that in the candles and indicators / RSI /MACD world. I know exactly how all that stuff works. And so do institutional traders. You are being lured into a liquidity trap if you didn't realize it. You have to flow with the institutional money. 99% of traders do not. 99% of traders use indicators. Hmmm. I wonder if there is a correlation.

Institutional traders do not rely upon indicators. They would not have a job if they did.

You can use indicators, but unless you have a fundamental understanding of what the market is actually doing, then the probability of success is not in your favor.

Fred

Can you be a little bit more descriptive as to what you are looking for? Entry/target/stop? Are you making your chart available?

Thanks!

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  #198 (permalink)
 n7ekg 
Plano, TX
 
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Ecclesiastes View Post
For those interested. This is my bread + butter setup.

Take this and ignore it, or use it. It does not matter to me. I am merely stating the truth. Truth demonstrated through evidence and experience.

I reiterate for the record, you do not need indicators. You need to know how the market works.

I am an institutionally trained, independent retail trader with Chicago floor experience. I have been trading for my entire adult life, with alot of that in the candles and indicators / RSI /MACD world. I know exactly how all that stuff works. And so do institutional traders. You are being lured into a liquidity trap if you didn't realize it. You have to flow with the institutional money. 99% of traders do not. 99% of traders use indicators. Hmmm. I wonder if there is a correlation.

Institutional traders do not rely upon indicators. They would not have a job if they did.

You can use indicators, but unless you have a fundamental understanding of what the market is actually doing, then the probability of success is not in your favor.

Fred

I forgot to ask, what you describe as a "MM Seller Block" - how is that determined? "A large red candle" - please define "large". Thanks.

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  #199 (permalink)
Ecclesiastes
Las Vegas NV USA
 
Posts: 19 since Jan 2019
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I made a video for the Trade Pro Academy community that explains the structural analysis that I am talking about.

Not going to make the .cht available as it has multiple additional licensed studies and requires an SC pkg 12. I'd be open to explaining whatever questions, though. It's not the chart that makes the trade. It's the understanding of the market. Give a watch and see if any of what I share makes sense. There is so much irrelevant stuff out there on youtube in the retail world, that my techniques wont typically matter to anyone, even if I directly show live trade results. It's up to the individual trader to live, breathe, eat, sleep the market. I didn't get here by magic. It was alot of years of wins and losses to get myself to the consistently profitable setups that I am showing you. Hopefully there is something that traders can garner from this.

R
Fred






n7ekg View Post
Can you be a little bit more descriptive as to what you are looking for? Entry/target/stop? Are you making your chart available?

Thanks!


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  #200 (permalink)
 n7ekg 
Plano, TX
 
Experience: Advanced
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Ecclesiastes View Post
I made a video for the Trade Pro Academy community that explains the structural analysis that I am talking about.

Not going to make the .cht available as it has multiple additional licensed studies and requires an SC pkg 12. I'd be open to explaining whatever questions, though. It's not the chart that makes the trade. It's the understanding of the market. Give a watch and see if any of what I share makes sense. There is so much irrelevant stuff out there on youtube in the retail world, that my techniques wont typically matter to anyone, even if I directly show live trade results. It's up to the individual trader to live, breathe, eat, sleep the market. I didn't get here by magic. It was alot of years of wins and losses to get myself to the consistently profitable setups that I am showing you. Hopefully there is something that traders can garner from this.

R
Fred



Are you *that* Fred? Howdy, and thanks for the video! I also was trained by an institutional trader/quant. Nice to see it's you!

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