Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I am glad the visuals help your trading. I think it is great that you use it to confirm your own signals.
I would however be interested to see the times when everything is aligned and confirmed as you said, but the trade doesn't work out. Would you put this down to bad luck, a mis-read, one of those things etc. or just part of the statistics of trading because we don't profit on every trade.
My trades don't always work out even when the conditions are met and the setup is virtually identical to a previous trade. IMO that is just one of those things.
--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
Can you help answer these questions from other members on NexusFi?
Absolutely. As I said in my last post, I bailed more losers than winners today even though I had some confirmation on the platforms. But I do tend to take some risky trades in the CL because it rotates "x" ticks on the bars so usually I can calculate where to get in and out. Today was tough trading. In retrospect, if you looked at my chart it's a work of art! But managing those trades was miserable. See attached.
Volume only. You can see the volume distribution on the bubbles. After a while, it becomes obvious whether the market is rotating or starting to be directional. It helps, but it's not magic. Takes time to interpret.
It took me a very long time to interpret Jigsaw - I just didn't get it. Then one day it clicked and it's indispensable now. Bookmap may turn out the same way. Time will tell. Right now it appears to be useful.
See attached. I use the actual orders that are executed plus watch the net number in the far right column. Watching that number gives you an idea of how fast/slow the market is trading. The limit orders in the red/blue columns are practically useless because a lot of them are fake and change rapidly. I stopped looking at them completely.
The profile is also useful - the CL especially trades around the volume nodes. Once it breaks through one of those nodes, it's usually a slam dunk for a trade.
Attached is today's action in NQ with Sierras version of a heatmap. Clearly seen are the algos hard at work bracketing price down and up.
My question is, what are they trying to accomplish? These are obviously not stop orders since they are set at limit. They seem to be orders that never get filled. What's the point?
How do you know they're algos? How do you know they're not just scalpers running up and down the ladder? In the end, what difference does it make? Algos, hedge funds, banks etc. - it doesn't matter who's trading. The only thing that matters is that you recognize a pattern on the chart and trade it accordingly. Some people seem to think it matters that all these "algos" are trading. The fact is we do not know who is trading. It's just an opinion.
Companies like Virtu https://www.virtu.com/ provide liquidity to the market. They're in there all the time. But I don't think it should make a difference to anyone's trading style. Just deal with it.
