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Price & Volume Trading Journal

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  #11 (permalink)
 ZTR 
 
Experience: Advanced
Platform: NinjaTrader7
Broker: Mirus RCG/Zen-Fire
Trading: CL & 6e, looking at ES, ZB and AU again.
 
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Posts: 2,099 since Nov 2009
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Dom is light again, TrendLine Down (TLd) is close to being touched on 233 tick chart. Is it time for a trade?

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Can you help answer these questions
from other members on futures io?
help with take profit several targets
TradeStation
Multi Time Frame High/Low/Median levels
NinjaTrader
Market on Close data within IB
Platforms and Indicators
NT8 Order Management Strategy
The Elite Circle
Big Mo Indicator for NT8
NinjaTrader
 
 
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  #12 (permalink)
 ZTR 
 
Experience: Advanced
Platform: NinjaTrader7
Broker: Mirus RCG/Zen-Fire
Trading: CL & 6e, looking at ES, ZB and AU again.
 
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Posts: 2,099 since Nov 2009
Thanks: 1,099 given, 1,393 received

Brutally honest appraisal: I get distracted too easily and don't work hard enough on concentrating on the market during the best times.

Took a 2 tick loss then spent the time after thinking about it rather then staying in the moment and fully concentrating on the possible setups.

Finally, recognized that Sharky's ADXVMA_sharky_paint makes some entry points easily recognizable, once you know what you are actually seeing. I was 2 points behind by the time I regained focus and decided not to chase. Those can be the highest success of probability trades. So what if the first 25% of the trade is lost?

One thing that Al Brooks talks about is the ability to recognize good setups in real time, which is why he uses 5 minute charts, primarily for determining the risk, not just the entry. Looking at the chart below there are several good setups, but the best are in the 1st 2 hours and the last 2 hours. Even I can train myself to concentrate for 2 hours at a time.

Conclusion: It is o.k. to use the fine-structure on quicker charts to recognize the entry, but use the 5 minute charts for determining exit points. Additionally, immediately forget the last trade and require a lock on watching for good setups. Take the mid-day off and really focus when in front of the screen.

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  #13 (permalink)
 ZTR 
 
Experience: Advanced
Platform: NinjaTrader7
Broker: Mirus RCG/Zen-Fire
Trading: CL & 6e, looking at ES, ZB and AU again.
 
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Posts: 2,099 since Nov 2009
Thanks: 1,099 given, 1,393 received


End of Morning Session:

Tried to trade the double top @1133.75 this morning ~8:08, but did it on price not price&volume. So I took a 2 tick loss.

Spending time thinking about building Indicators this morning after input from Zondor and Cory yesterday. Thanks to both of you.

I've added the GomVolumeLadder to the chart, but want to replace it with a DOM ribbon around the price so I can see at a glance the cumulative bad and ask. Later I'll try to look at the GomRecorder and see if I can make the BSVLine & DOMRibbon indicator persistent.

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  #14 (permalink)
 ZTR 
 
Experience: Advanced
Platform: NinjaTrader7
Broker: Mirus RCG/Zen-Fire
Trading: CL & 6e, looking at ES, ZB and AU again.
 
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Posts: 2,099 since Nov 2009
Thanks: 1,099 given, 1,393 received

Ran a chart with the DOM_Bands Indicator as I had to be out most of the trading day. Chart below. I marked the buy points where I felt the DOM_Bands confirmed a good setup.

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  #15 (permalink)
 ZTR 
 
Experience: Advanced
Platform: NinjaTrader7
Broker: Mirus RCG/Zen-Fire
Trading: CL & 6e, looking at ES, ZB and AU again.
 
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Posts: 2,099 since Nov 2009
Thanks: 1,099 given, 1,393 received

Took out 1.3 total points (after commission). Just before the market open. Was concerned about quicks moves. Next target 1139?

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  #16 (permalink)
 cclsys 
Sydney, NS
 
Experience: Intermediate
Platform: Ninja
Broker: Zen-Fire
Trading: TF,S,GC
 
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Posts: 607 since Nov 2009
Thanks: 248 given, 393 received

on your chart where you say you see DOM bands confirming, could you explain a little more what you are seeing there please?

Also, are you saying you are going to try to build the bands to go around the price so they can display on the main chart? That sounds quite interesting if true..

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  #17 (permalink)
 ZTR 
 
Experience: Advanced
Platform: NinjaTrader7
Broker: Mirus RCG/Zen-Fire
Trading: CL & 6e, looking at ES, ZB and AU again.
 
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Posts: 2,099 since Nov 2009
Thanks: 1,099 given, 1,393 received

What I noticed after a comment by Cory is that when the yellow (difference between #Bid and #asked) and Blue touch (amount bid) the market has a tendency to move up. See attached chart (arrow denote condition).

This morning there was what looked like an Al Brooks' set up (I still have trouble with his notation): There is a higher low with the Yellow close to the Blue. So the indicator is confiirming what I though was a good setup. The BSVLine is also giving a hold as the Blue line was dominating until 1137 was reached. Should have traded it but...

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  #18 (permalink)
 cclsys 
Sydney, NS
 
Experience: Intermediate
Platform: Ninja
Broker: Zen-Fire
Trading: TF,S,GC
 
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Posts: 607 since Nov 2009
Thanks: 248 given, 393 received

Thanks. Will be monitoring this one.

Ztrade: since you are obviously trading a very fast chart: how long is it taking your order to process, i.e. from when you hit the entry button to when it turns green? It is taking me about 3-10 seconds but I am on dialup (though data is within .5 secs or better and I have 250 ms latency); I have read in other places that it is slow for people with highspeed too so curious as to whether my order-time lag is because of dialup or something to do with Ninja.

Also, am wondering how you can trade these setups unless you have 1 sec or better order processing time..

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  #19 (permalink)
 ZTR 
 
Experience: Advanced
Platform: NinjaTrader7
Broker: Mirus RCG/Zen-Fire
Trading: CL & 6e, looking at ES, ZB and AU again.
 
ZTR's Avatar
 
Posts: 2,099 since Nov 2009
Thanks: 1,099 given, 1,393 received

DOM_Bands showed the Delta below the ask. In other words there are way more contracts on the ask side than the bid side (almost 3x). Should be denoting a significant resistance level @ 1137.50. Will come back later to see if there is a possibility of a long entry or an upside breakout failure. That would be more significant at the previous high, Consolidations just below the previous local (several day) high-region can be long entry points.

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  #20 (permalink)
 ZTR 
 
Experience: Advanced
Platform: NinjaTrader7
Broker: Mirus RCG/Zen-Fire
Trading: CL & 6e, looking at ES, ZB and AU again.
 
ZTR's Avatar
 
Posts: 2,099 since Nov 2009
Thanks: 1,099 given, 1,393 received


Once I got Zen-Fire it was as super fast. That is comparing it to PATS or TradeStation. With ZF I was no longer getting 1-2 ticks slippage and some times when I trade after market hours I can see my trade print as I let off the mouse. Best data-feed execution package I have ever had - and it show all trades above my filter point on the T&S window. That is not true with other providers. I found this out taking an on-line NinjaTrader class, and my posted trades did not match the instructor's printed trades on the Time and Sales window. I asked what was the feed? ZenFire.

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