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SniperDaytrader's journal
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SniperDaytrader's journal

  #61 (permalink)
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Sniper what are the marks in the candles?
Is that the point of control? As in the most bids and asks per candle.

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  #62 (permalink)
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Are you asking about the yellow dots? It just marks certain type of PA situation in the market and it is very hard to describe without going too much into detail. However, it is part of my historical develpement as a trader and has little impact on my trading in current stage.

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  #63 (permalink)
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March 24, 2015


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I was done for today after initial 50min. I reached my PDP (perfect daily target), so I was reluctant to trade more. I took first long near the low of the market and as you can see, it was also a good lesson why to take your first profit target quickly. The market fell littlebit lower to rebounce and move higher.

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I took short position after I saw the agony of premature longs (simple traders). First, the market makers created a situation where they ''advertised'' long situation for the simple trader. And they catched a lot of them this time. Simple traders kept buying and buying and market makers ate their market orders with their sell limits (to prevent the market to move higher) resulting in a situation which I call ''the trap''. Now we see lot of simple traders already in the position wondering why the market doesn't move. They cannot get out and they keep hoping that the market will eventually rise. Market makers wait until they see they have trapped enough of them. They enable market to move just littlebit higher so the last latecomers will join in. After few minutes of agony they let the market fall with one objective in mind: to feed on the poor simple trader's stop limits, which are in fact sell orders so they help the market to fall even lower. Of course I joined the market makers in their filthy game and took quick profit. I will take a shower after I am done here

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  #64 (permalink)
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March 25, 2015

When I started my blog I promised to share the good but also the bad. And there is always lot of bad days in trading. Even the best traders have bad days from time to time. For traders the bad day usually means that he lost a lot o money. And since I promised to share everything, here it is – the biggest loss per day since I started this round of live trading:
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T1 was very premature and I was not able to close it sooner.
T2 another premature entry, this time even worse than the previous
T3 I catched this one very high and of course the following stop run hit my (widened) stop loss
T4 long in YM, quite good, but I couldn’t withstand the market noise. My profit target was exactly at 17910 where the market eventually climbed
T5 and T6 were ok trades, but I took them too prematurely and I again couldn’t withstand the market noise so I closed both
T7 stupid
T8 stupid
T9 and T10 both prematurely
From the beginning I saw that the markets are falling and not behaving normaly. In that case (if you are not already in the market from the top) the best position is to sit on your hands and wait until the market callms down. My stubborness costed me dearly. $309 to be exact. Expensive lesson, I hope I will learn from it. What is even worse I broke my money management rule (max. daily loss $150).
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So what do I do now? Nothing. I will continue to trade as if nothing happened. It may sound stupid at first, but if your trading plan is solid (and mine is, which was proven by SIM period), than the only thing you can do is nothing. I wouln’t try to cut the drawdown because it would make me more aggressive and that is something you don’t want to do if you are losing. Quite the opposite I will try to take just the best setups and trade with more caution.

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  #65 (permalink)
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March 30, 2015

I am slowly regaining confidence after last week's fiasco. Today, I reached my perfect daily target after 30min of trading.
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T1 was a mistake. I took the trade too early. After I realized that, I quickly closed the position at BE+1
T2 I picked the highest high 6 ticks from high. I didn't want to risk anything and took quick +9 ticks
T3 I went long after I saw struggle of bears to push the market lower. +10
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  #66 (permalink)
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April 9, 2015

Today, market was testing my patience... and I succeeded. There have been literally just couple of good opportunities. I missed one of them because I couldn´t react quickly enough and then I didn´t want to chase the market so I let it go. I ended up with a single trade.

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T1 After I saw that I am not able to enter the market with limit order efficiently I opened this long with market order. Very quick trade (30 secs) with 2 ticks heat. +12

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  #67 (permalink)
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April 10, 2015

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Very low volume and almost dead market today. The whole day was again about patience.

T1 Even when I was expecting the market to move higher and thus having a long bias, this short came from my preplanned zone after I saw buyers fading out. I picked the local high pretty good but because of low volume in general I also didn´t see enough sellers comming in. I decided to close the position at BE+1

T2 This was again few ticks from local low. I had just 2 ticks heat. MID and low provided barrier to hide my stop loss behind. Soon after my entry the market rallied. Having the low volume in mind I aimed just for the closest logical target which was 9 ticks away in this case.

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  #68 (permalink)
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criteria for entry and exit points

Sorry for my naive question. I want to know how to decide the entry and exit points in the order flow.
go long if cumulative delta is green?

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My goal for this week was to regain confidence. I was trying to trade just the best setups with controlled risk. I was trading just 4 days (Tuesday till Friday). Most of the time the markets have been quite slow, specialy on Friday.
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I had 3 winning days + loss on Wednesday. Except Wednesday I had 100% win ratio (Wed just 33.33%). The total profit is not very impressive but it is the first step towards recovery from previous period of bad weeks.

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  #70 (permalink)
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microsat View Post
Sorry for my naive question. I want to know how to decide the entry and exit points in the order flow.
go long if cumulative delta is green?

The best answer to that question is to fully understand what is going on in the market. Orderflow is a perfect tool to analyze the market moves. You can see what is really going on before the market ticks up or down. Your goal should be to understand and recognize specific situations in orderflow.

Soon it will feel like market is trying to "tell you something" and you just have to listen. You have to observe what is market trying to do and how successfuly. Then you can create your own entry and exit points.

If you are looking for some easy and simple ´switch-like´ setup where you enter according what some indicator does then I will disappoint you. Orderflow doesn´t work like that.

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