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Trading fast markets


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Trading fast markets

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  #801 (permalink)
PTA, Gauteng
 
Experience: Advanced
Platform: Self built + Sierra + TWS
Trading: Stocks and Options
 
DarkPoolTrading's Avatar
 
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xelaar View Post
On the other hand, I am still waiting on LTP to start, some delays from TST. However, I have used my time to download Sierra Charts and learn how to use it. It may look like a thing from 90-ties running on Windows 3.11 but boy how powerful it is, how robust and lightweight it is. Loads fast, don't clog PC, has tons of functionality. And it has a really nice DOM, full blown ATM strategies at least on par with Ninja. The only thing I really lack there is GomMP inie, and Jigsaw trading tools. Sierra has tape and DOM is very informative, but still Jigsaw gives me a little bit extra, namely absorption is much better seen there.

Thus said, for doing LTP and trading TST account live Sierra is a superior choice.

Sierra has both market profile and volume profile. Look for the following studies:
-Volume by Price
-TPO profile chart

As with everything else in Sierra, you'll find the profiling tools extremely lightweight, fast and with a ton of options.

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  #802 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
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Posts: 1,517 since Feb 2013
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DarkPoolTrading View Post
Sierra has both market profile and volume profile. Look for the following studies:
-Volume by Price
-TPO profile chart

As with everything else in Sierra, you'll find the profiling tools extremely lightweight, fast and with a ton of options.

Thanks, I use that VbP, but it's so ugly and I can't find a way to make is less annoying in colors. But is does the job.
I still try to figure out how to get it to show multiple volume profiles, one for each day, for more compressed chart, to compare profiles.

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  #803 (permalink)
PTA, Gauteng
 
Experience: Advanced
Platform: Self built + Sierra + TWS
Trading: Stocks and Options
 
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xelaar View Post
I still try to figure out how to get it to show multiple volume profiles, one for each day, for more compressed chart, to compare profiles.

Set Volume Graph Period Type to Fixed by Time .
Set the Time Period Type input to Days
Set the Time Period Length input to 1.

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  #804 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
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DarkPoolTrading View Post
Set Volume Graph Period Type to Fixed by Time .
Set the Time Period Type input to Days
Set the Time Period Length input to 1.

Thanks!


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  #805 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
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Posts: 1,517 since Feb 2013
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Alright, here is my final plan for the remainder of 2013:
- I will follow my written plan in regards to the setup entries
- I will only take max 2 trades a day per market
- I will always risk 15 ticks
- I will always have a profit target 30 ticks
- I will not manage my trade in any shape of form, allowing to collect proper set of MAE and MFE
- I will only take trades where profit potential is sufficient to hit my target and where my risk tolerance is sufficient for the volatility present and price action structure

I believe I should get some better data if I filter the market for only situation suited my plan, instead of adjusting to each and every trade moving stops and targets and in the end getting some very confusing information.

I was gratificated early with my new approach, getting 2 winners on the dax.






I will be trading DAX, CL and GC with exactly same rules, except that front run trade on GC, but 15-30 rules will still stand.

Besides anything this exercise will help me to improve patience a lot.

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  #806 (permalink)
Vizag+india
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Nifty
 
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"Besides anything this exercise will help me to improve patience a lot."
Good Xelaar, agreed lessor trades shows we are more patient. Same thing is helping my P&L past few days.

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  #807 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
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Posts: 1,517 since Feb 2013
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Did some business in Gold. Two trades. Two consecutive levels. Ideally I would probably would leave trade one and just increase its target a bit, but I followed the rules, trades were takes as it they were unrelated.

Not sure how realistic they are, first trade entry would not slip on entry, hardly the exit would slip favorable so much like it did in sim, as it is done with limit so it would not slip at all most likely. But it is what it is.






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  #808 (permalink)
Vinnitsa Ukraine
 
Experience: Beginner
Platform: NinjaTrader, CTS T4, Sierra Chart, TOS
Broker: AMP/CQG
Trading: CL
 
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Posts: 119 since Aug 2012
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It is beuatiful setup, xelaar. How can i see a signal on footprint? I am guess that the jig-saw and the footprint produce the same signals. Isn't it? Thanks.

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  #809 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,566 received

And two trades on Crude to end the first day well.


First trade was totally stupid. No, setup was looking excellent but with small correction - I totally ignored a very strong bullish trend since the open, huge momentum and volume.


I got a quick and dirty stop out for 15 shekels.


A second trade was smarter, I decided to wait and see if pullback will continue, it seemed to end and I got a break of a trend line, pick up in bullish momentum, positive tape, second entry long. It made 23 ticks profit and new high but came back to the entry. If I would be managing this trade, that would be totally the end of it. However, as I let it to its own devices and went to see Dangerous Flights show on TV, it produced another push that ended in +30.


It's encouraging start to my new experiment. Stress-free too.

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  #810 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,566 received



semoa View Post
It is beuatiful setup, xelaar. How can i see a signal on footprint? I am guess that the jig-saw and the footprint produce the same signals. Isn't it? Thanks.

Hey, it's pretty hard to see to enter when it starts moving - it takes just a second or two and you would get slipped badly. Basically you need to judge the market beforehand and see how price action behaves as it gets close to the level, how tape prints and how limits get thrown to stop the selling force. I have made a whole webinar/educational video for Pete Davis and explained exactly this sort of setups in great details and provided several real life examples and video recording of actual trades.

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