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Price & Volume Trading Journal
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Price & Volume Trading Journal

  #111 (permalink)
 R.I.P. 1960-2010 
 
Futures Experience: Advanced
Platform: NinjaTrader7
Broker/Data: Mirus RCG/Zen-Fire
Favorite Futures: CL & 6e, looking at ES, ZB and AU again.
 
ZTR's Avatar
 
Posts: 2,099 since Nov 2009
Thanks: 1,104 given, 1,390 received

Top Formation & Sell off in the ES: Setup for Short.

Finally getting Replay to work, Damn 7b9 is a PAIN! & the Support guys will not read what I send them. OK, off the soap box.

With all of the new indicators visualizing what is important in Price and Volume, decided to look at the last week set up by setup. I prefer being a trend trader, so here is a really good one.

Signals:

  • After forming a double bottom @1056 ES rallyed from 7 am to 8:13 when the Supply as shown on DOM Bands was over whelming buyers. Plotted 10 levels - almost 45,000 cars were in the DOM with a -12000 over supply (more ask than bid).
  • BSV showed 2 churn bars on the way to the high, then selling began to dominate.
  • d9 had a lower high.
  • TSA Crossed from + to -
  • TSD Changed from Buying to Selling.
Add these 4 things up and you have a local top. It took 1.5 hours for fully form as the last push up failed @ 9:47

Looking deeper the Ladder shows the top close up as buyers failed to push the narket higher several features are seen:

  • Volume in the ladder @ 8:16 is near the bottom with a large neg value in the bottom row.
  • Next attempt to move higher is met with even more selling @ 8:51 and a churn bar @ 8:57
  • Winner of that battle will determine the trend, as can be seen @ 9:03 and 9:04 the sellers step up and dominate, a churn bar follows
  • From that point buyers are in decline and a very nice move develops.
Staying short is easy if the TLd is drawn across the 2nd & 3rd peaks.

This is the type of set up I visualize catching, soon!

Attached Thumbnails
Price & Volume Trading Journal-es-03-10-8192-volume-2_8_2010_815_top2.jpg   Price & Volume Trading Journal-es-03-10-8192-volume-2_8_2010_815_top.jpg  
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  #112 (permalink)
 R.I.P. 1960-2010 
 
Futures Experience: Advanced
Platform: NinjaTrader7
Broker/Data: Mirus RCG/Zen-Fire
Favorite Futures: CL & 6e, looking at ES, ZB and AU again.
 
ZTR's Avatar
 
Posts: 2,099 since Nov 2009
Thanks: 1,104 given, 1,390 received

More Replay with New Indicators in 7b9

Some else analyze this & Lets compare notes.

Going to Mavericks! I don't know what will be more fun watching Big wave surfers or riding the MC down the Pacific Coast Highway. Need a reward after all this NT stuff.

Attached Thumbnails
Price & Volume Trading Journal-es-03-10-8192-volume-2_10_2010_selloff_rally.jpg   Price & Volume Trading Journal-es-03-10-6-range-2_10_2010_env.jpg   Price & Volume Trading Journal-es-03-10-8192-volume-2_10_2010_albrooksff.jpg  
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  #113 (permalink)
 R.I.P. 1960-2010 
 
Futures Experience: Advanced
Platform: NinjaTrader7
Broker/Data: Mirus RCG/Zen-Fire
Favorite Futures: CL & 6e, looking at ES, ZB and AU again.
 
ZTR's Avatar
 
Posts: 2,099 since Nov 2009
Thanks: 1,104 given, 1,390 received

Thanks To Ericj for his Journal


I give myself and F for today. Didn't take much of a loss but I let psych factors keep me from making the best trade - The one in Eric j' Journal Buy after the double bottom @1079.50.

Ericj's journal reminded me that rectangles are continuation zones. I kept looking for a sell off instead of realizing that the trend line from Friday was still intact. although touched, it was still valid. I even had a 1090 target. I didn't trade it right. I let missing a trade, NT7 crashing, and taking 2 small losses mess me up. (Must say NT 7b9 behaved great after that)

My target was low. I had a bias & was looking for a short above 1090. Then realized the EMA50 was @1093. Thought there would be a pull back to enter a Long, never really got enough of one.

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  #114 (permalink)
 R.I.P. 1960-2010 
 
Futures Experience: Advanced
Platform: NinjaTrader7
Broker/Data: Mirus RCG/Zen-Fire
Favorite Futures: CL & 6e, looking at ES, ZB and AU again.
 
ZTR's Avatar
 
Posts: 2,099 since Nov 2009
Thanks: 1,104 given, 1,390 received

Today's Bottom @ 1093

Was looking at how the market behaves at turning points:

bmcharts.com - share your trades

bmcharts.com - share your trades

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  #115 (permalink)
 R.I.P. 1960-2010 
 
Futures Experience: Advanced
Platform: NinjaTrader7
Broker/Data: Mirus RCG/Zen-Fire
Favorite Futures: CL & 6e, looking at ES, ZB and AU again.
 
ZTR's Avatar
 
Posts: 2,099 since Nov 2009
Thanks: 1,104 given, 1,390 received

1 last step to success..

Know my worst mistake.

Must use Limit orders - Instead of chasing.

Completely aware of this problem. Believe that it will be fixed from this point forward. This time am confident of being able to make the change in my trade entry. As I feel the pain of my errors and accept full responsibility for their commission.

Next time use will limit for entry at convergence of Ma's. Then use 5 -9 pip stop loss, then switch to CMA as a stop. After a few points (or shake out) switch to ADX line as stop.

Attached Thumbnails
Price & Volume Trading Journal-es-03-10-2_18_2010-8192-volume-_1124.jpg  
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  #116 (permalink)
Elite Member
Portland Oregon, United States
 
Futures Experience: Beginner
Platform: Ninjatrader®
Broker/Data: CQG, Kinetick
Favorite Futures: Gameplay Klownbine® Trading of Globex
 
Zondor's Avatar
 
Posts: 1,327 since Jul 2009
Thanks: 1,246 given, 2,635 received

Updated version of BuySellVolumeTotal posted

This is the buy sell volume indicator that works with the GomRecorder to give persistent data. Includes some minor, but worthwhile improvements:


https://futures.io/free_downloads/vip_elite_circle/295-download.html

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  #117 (permalink)
 R.I.P. 1960-2010 
 
Futures Experience: Advanced
Platform: NinjaTrader7
Broker/Data: Mirus RCG/Zen-Fire
Favorite Futures: CL & 6e, looking at ES, ZB and AU again.
 
ZTR's Avatar
 
Posts: 2,099 since Nov 2009
Thanks: 1,104 given, 1,390 received

Close... but no Cigar

Took a short on a Churn Bar with a failed Break UP (= buys & sells, yellow bar - above arrow on chart), Tried a limit but ES moved quickly & used a market. Realized I had not watched the bottoms, should not have shorted. Knew it was time to get out. Stop was hit before I had a chance to do anything. After the Churn Bar got two strong buy bars on BSVT, this was the entry, but after a mistake - like to clear my head.

Could not get into the flow. But did recognize a great pattern after wards (see chart). There is a Zig-Zag Continuation between 1102.25 & 1105.50. These are classic, put in an order 2-3 pips from the EMA20,with a 5 pip stop loss.

Market had stalled, ES sold off, then went long @ 1008.50 using a limit, but saw reverse and broke even. At this point - was done.

Sometimes it is good to take a good, long break in the middle of the day. Would have paid off today.

Grade C- I did half or what I wanted. Still, I want to be an A student.

Will Read chapters 50-59 of Brett this weekend and try again next week.

Also, plan on Looking at Ericj's Journal. He said he would try and do some analysis on Low Volume moves.

Attached Thumbnails
Price & Volume Trading Journal-es-03-10-8192-volume-2_19_2010_1255.jpg  

Last edited by ZTR; February 19th, 2010 at 05:19 PM. Reason: missed a zero
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  #118 (permalink)
 R.I.P. 1960-2010 
 
Futures Experience: Advanced
Platform: NinjaTrader7
Broker/Data: Mirus RCG/Zen-Fire
Favorite Futures: CL & 6e, looking at ES, ZB and AU again.
 
ZTR's Avatar
 
Posts: 2,099 since Nov 2009
Thanks: 1,104 given, 1,390 received

Decided that I will be investigating what capabilities of 6.5 still work in 7. Going to be doing sim trades for a while to test Chart Trader & eventually strategies. This is highly experimental, so moving my trading journal to The Elite Circle



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