interesting, but....a couple of things I see differerent:
- is it really an edge when you have a free trade the way you explained it? being up a tick or 2 and then moving the stop to break even? of course I might be wrong, but I believe more then not you'll get stopped out. and a break even trade for a retail trader (or any trader) is a loss. (commission, slippage).
- not stepping in front of a train when there's heavy volume on bid or ask. certainly true, but I believe it's very important what price is doing. when there's heavy selling on the bid side, but price is not going lower instead starts moving up, then there's a good opportunity for a long trade. those are some of my very favorite setups.
- not using charts. certainly not necessary if you're successful without them. but for me it gives the needed confirmation for a trade. as an example, I wouldn't trade without my vwap.
but would like to make it clear. I'm not an expert like you are. also I'm not teaching or selling anything. so those are just uneducated remarks on my part and should be treated that way
here are a couple of examples from today concerning heavy volume, but going the other way:
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Mike, John and Peter, thanks guys for organizing this webinar. Good content and no fluffing it up type delivery, saying it as it is. Very relevant to where I'm currently at in my trading. I've also moved on from just working with indicators to now simply looking at orderflow. As with anything it takes a bit of time to get used to, but if done correctly I am of the understanding it can produce a lot more better results a lot quicker, with a better understanding why. With indicators it's a lot easier to scrap something if it isn't working and you might be tempted to keep trying different indicators. Where as with this it's focusing on people's behaviour within the market, and learning to recognize situation one can take advantage of. If you're not profitable at this type of trading, you know it's not due to an indicator not working for you, but will have to do with you skill to take advantage when good moments play out.
Don't let money control you, control money!
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I'm not sure what to listen to the webinar author, the opinion of one trader is not statistically
if someone wants to study in detail how the market works, then I would recommend reading this book: Trading and Exchanges: Market Microstructure for Practitioners, I think it can find more information
* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former
The following user says Thank You to Jonson for this post:
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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