Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
there are many ways how to use the volume profile and it also depends on the timeframe - do you mean volume profile of the whole day, or a volume profile of a range, or a volume profile of a one minute candle? - each section in chart can be visualized through volume profile which basically shows the distribution of volume
in short, volume profile shows the attractivity of a particular price - attractive vs. non-attractive. i always want to open a trade in a a NONATRACTIVE price and put the target into ATTRACTIVE price.
why?
because the market will not stay at the nonattractive price, it will move quickly and hit my target. that is exactly what i need. i need the market to move quickly from my entry price (nonatractive area) to target (attractive area).
Thank you for the response. That makes a lot of sense. I was using volume profile but was unsure on how i could implement it but your explanation could not be any simpler.
By the way. Do you do yoga? (I assume so from your username) I currently have an ashtanga practice that i do almost daily. I find it very beneficial
today is a typical day for a longer term directional market making strategy. this is sort of a turtle trading strategy based on an intermarket disbalance of the us futures indexes and a clever presumption that weak traders will short the nasdaq futures because it is higher
nasdaq attracts sellers because it is too high compared to other three. and "it should to fall".
because "it should fall", it will not.
and it will happily rise till all the sellers change their oppinion and become greedy buyers. as soon as they will start buying, it will fall against them. the market making technique of moving the volume is visible of footprints chars. today´s nasdaq surges on the stoplosses of retail sellers who didnt understand that "because it should fall, it will rise". the whole day.
this is pretty clear trade with steady logic. i take short against stupid traders buying daily low. i am sure the market will hit theirs stoplosses where i will close my first target to make risk free.
it did.
unfortunatelly, the price missed my third target for one tick so i close in at the level of the first one. the fourth target i am still holding - speculation on a daily low stuprun. i am already defining my stoploss because i dont want to see the price above local high
couple of minutes after dow jones opened sellers were no longer interested in lower price. i got a quick fill of the first target to make risk free trade, the second part ends up at stoploss and after that the market moved up to fiil the truth of what i expected it to do.
anyway..
this is all i take today. im going to airport now
(btw a interesting thing to notice here was a big and steady buy limit on depth of market filled with harsh sell market triggered after liquidity test. this supported my idea that i was on the correct side of the markett)
this short was based on the intermarket analysis, nq sucked in deep buyers (trapped longs). i took short against them. my average entry price was not perfect, i was very aggresive here because i did not want to miss it.
after it rose little bit, i scaled in to open bigger size and "compensate" my average price. 80% of the posstion closed at the level of first target
