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My journal to trade by understanding market's processes and behaviors
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My journal to trade by understanding market's processes and behaviors

  #11 (permalink)
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Update September 11th 2014

Hi all,

Covered about 9 pages tonight at page 169 now. Still learn of long liquidation and short covering from day time frame at the end of day which is very nice and interesting. It makes the closing price a kind of irrelevant on these days when comparing to the value area.

tx

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  #12 (permalink)
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It would likely be useful for you to mark up some charts in the journal about what you've learned as you go.

Mike

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  #13 (permalink)
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Charts and update September 12th 2014


Hi Mike and all,

The minute I will put something together I will post it. I only have hand written notes as of now and I thought that the knowledge might be more printed into my brain if I took the notes into my native language which is french. I want to finish the reading to make a kind of recap document for context that I will share (yes it will be in english). I have to renew my Kinetics data feed at some point, get my elite membership here, setup Market Profile on Ninjatrader in order to make a nice document that will show MP charts with my understanding of it. But I am not there yet. Your intervention is very well received Mike, many thanks.

I am 42, I have a boy of 11 years old with Tourette syndrome, 2 daughters, 16 and 18 and a full time day job, I promise what I do share here is everything I have done so far, which is reading session of 45 minutes to 120 minutes at a time. I did not looked at any charts yet excepts the one in Dalton's book.

Again if people likes to study trading velocity or transaction speed increase and decrease I do have a very nice section in my trading plan with a complete study of my own into it. I really think this could be usefull. I did re-attach my most recent trading plan to this post. If someone is interested in my SpeedInBar indicator (it might already exist, I do not know) I will post it on the forum, it will be an honor for me to do so. I also have an engulfing indicator (that can show when the engulfed bar had more volume than the engulfing bar) which might exist also already, I do not not know, if someone wants it let me know I will post it. The first section of my trading plan talks of volume levels based on post, pre and regular market volume big print. But I think it is incomplete, I was using massive volume print levels as reference levels but the Value Area approach of MP is a lot better I think but at least, I was in the right direction with reference levels based on volume ...

My plan is to add a context section to my trading plan that will probably replace the Volume Price Level section of it. I am so much looking forward for this milsestone to be completed, futures.io (formerly BMT) will be first to know that. And each day that I will add to it, I will post the updated file into this thread and probably under my own section if this is possible. But this time instead of quiting my day job to go full time trading and not being successfull for 2.5 years, I will do it more progressivly with my day job as backup, not depending on my wife's support (this is a long story, to make it short, I was trading in the AM and helping/working for her in the PM for 2.5 years but it was not financially enough for our family) and depending on someone else is not the way to go for successfull trading, at least it did not worked for me.

This PM my plan was to read for 3 hours but my boy ended up being at home sooner and I did spend about 1 hour reading instead of 3 hours. But I am ok with that now I did look at a family movie with him. I did understand that the family, the friends and socials has to come first and then trading come right after ... But this is hard when you are so passionnate about something ... But beleive me, I did put trading in front and I was full time invested into it to for 2.5 years not able to do better than green for 3 weeks in a row ... More time in front of screen does not mean more trading success ...

If my posts do not have enough content, please let me know I will post less often. But I did promise to myself that every time I will study, trade, spend time in front of screen looking for the holy grail, or whatever related to trading, I will write it into a journal until being a successfull trader.

I did attached one of my last year charts (trade journal), it did not match my most recent trading plan which compares my SpeedInbar with price MACD and price ReversedMACD but these were the trades I was taking before ... Note JCP tab, it is a very nice example of how the SpeedInBar could evaluate the validity or the health of a trend ... But you have to be in a tick based chart. At that time, to me freezing time into the horizontal axis was hiding too much information inside bar price and volume bars. The speed or the velocity of trading is something important that has to be monitored and released as an available information in order to get a feel of the market's conviction. I was doing so with tick based chart and speedinbar indicator which is simply the number of seconds spent to create a tick based bar (for example how many seconds it take for 200 trades or transactions). Pullback in uptrend and rally in downtrend has to be slower (which is not bad, giving you more time to place your order !) while each step up or down in the trend has to be faster and faster .... When a step is slower than the previous one usually the trend is not ready for another leg ... All of that is way better described in the 2nd portion of my trading plan.

This was my edge, I think it is still valid and helpfull for short term trading, on my side I know I want to go higher time frame like 30 min or 15 min or tick based chart that will contain an average of 10 or 15 minutes, something around that, I want the Logical Trader to help me for execution as recommended by MFBreakout on this forum, this will be my next step after adding the context section to my trading plan.

Ok, that is about it,

Good night all, tx Mike for pushing us,

erobertsonag

Attached Files
Register to download File Type: xls Trading Journal Etienne Robertson 2013-08-23.xls (1.69 MB, 23 views)
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  #14 (permalink)
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Oops ...

Looks like the trading plan I was refering in previous post was not attached. So here it is ...

Attached Thumbnails
My journal to trade by understanding market's processes and behaviors-trading-plan-etienne-robertson-2013-10-03-bmt.pdf  
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  #15 (permalink)
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Update September 13th 2014

I am done with the Markets In Profile !! In the last pages of the book Dalton says: if you feel the potential and the power explained in this book then welcome to the minority !!! And I know that there is only a minority that are successfull then I am glad to learn that I am supposed to be on the good path ...

Did got my Elite membership as well today. I did update my NT to 7.0.1000.25 and installed GomBaseAndDeltaPackage2.6 and GomMP4.7. I have no data feed except free end of day from Kinetics for now (without intra-day data !) , I will have to investigate what would be the most cost effective avenue, I want minute data but I do not need them real - time since I am just in a study mode.

Ok, tx all,

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Update September 14th 2014

Hi all,

Did spend some time undersdanding Gomi framework (wow what a piece of code !) and how historical Tick data can get into NT ... Did download Mike's ETF historical tick data for August 2014 and copied the oneperday files for QQQ into the My Document Folder. Did try to bring some historical data of QQQ with GomCD without success ... Was looking around for answers and ended up finding the ''Where to start as trader'' webinars from Big Mike ... I did looked at the first webinar.

That is where I am, I did look at GomRecorder 2 thread as well and the Official GomRecorder QCollector thread. Do I need an intraday data feed in top of Mike's tick data files to look at historical intraday data on NT? I did find how to install GomPackage and other Gom indicators, I did find how to download and paste the tick data collected by Mike but I did not find how to actually connect or make the GomCD to actually read Mike's historical Tick data.

Did find out that I will stick with equities for now, Mike did confirm my choice in the webinar, it is a very secured environment, a lot different size is possible (sizing but also with a lot of different stock prices).

I do look forward for the Part 2 webinar which will discuss Platform, maybe my answers will be found in this webinar. Any help would be appreciate on my NT - Historical Data issue up there, thanks in advance, I did spent many hours, I think I am close to the solution but not there yet ...

Tx all

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  #17 (permalink)
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Update September 15th 2014

Hi all,

Did look at the Thread of ''Where to start as a trader'' and the next webinar suggested by the thread is ''An Afternoon with Big Mike''. In this first 1/2 of the webinar I did learn that there is a GOM User Manual which in with I will look to fix my previous questions concerning GOM (simply search for GOM USER MANUAL in the search field). Did learn how to better use the forum, how important the Thanks button is important for those who takes the time to answer questions, how important it is to update your profile (I feel guilty now to have not an updated profile or avatar ... will try to fix this asap) and that the goal is to master one or two thing at a time. I am only at the 1/2 of the webinar, I will look at the other half probably tomorrow. THere is many, many other psychological tips in this 1st 1/2 webinar that I can personally relate to my trading journey, error that I did and that I probably still do :-( but at least I know I can review this webinar over and over and over if I want.

Many thanks Big Mike for the sharing, good night all,

erobertsonag

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  #18 (permalink)
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Have you back-tested yet?


erobertsonag View Post
Looks like the trading plan I was refering in previous post was not attached. So here it is ...

Nice job on your trading plan! I was wondering how much time you've put in testing it in sim?

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alias123 View Post
Nice job on your trading plan! I was wondering how much time you've put in testing it in sim?

Actually it is my most recent plan that I did finalized (I do probably have 20 different versions going from system to system over the last 2.5 years) after having retake my professional day trading course for the 3rd time ... It represent the best of me but unfortunatly, I did spend about 2 weeks updating it based on my teacher's recommendation that I did received in my last retake and I did had to stop due to financial difficulty and health issues (stress to high and energy too low). So the testing period for that exact trading plan is close to zero. But it is all about execution, the plan is one thing but the performance measurements and the metrics used to measure is important. I do share this plan for the concept of transactions acceleration and decellararion, it is to me an important information (trading speed in the present tense and displayed and recorded on a histogram chart). It is not possible to collect the trading velocity increase and decrease when looking at a time based chart. My goal is not to share the system itself but the concept. For me, there is numerous basic information the market can give us: 1- price 2- volume 3- number of trades 4 - time ( fixed for everybody) and finally 5 - trading velocity. For me 100 trades of 200 shares each (total volume of 20000 shares exchange) is very different than 2 trades of 10000 shares each (also 20000 in volume). So this is the concept and it is kind of measurable with a trade based bar chart with volume and speedinbar measurement.

Ok, you guys have probably already figure that, but I like to explain it since I feel it could be usefull. My plan is to use this chart to evaluate when price out of balance is shutting off activity or is bringing new business as Dalton would say ...

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Hi all,

Did listen to the 2nd half of An afternoon with Big Mike webinar and wow ... Thank you Big Mike.

I will look at these webinars again and again, they are not for starter only, not at all.

Cio

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