Thank you for dropping by bmtrading9.

I am trading market profile but in a way slightly different to those who look at profile session by session or day to day.
I am using this indicator - TasMarket Profile ( you may search it on Google if you are interested to find out more); basically what it does, it draws 3lines (or we called it a box) when there is a small micro profile formed on your time frame (and probably with some other factors also but i have no access to secret sauce so just my guessing).

So criteria
1. i only trade when both h4 and h1 are on the same side of the box, after the bar close. i look at bar close to avoid ambiguity and for better time management
2. i will wait for a first breakout of a trend, (a trend is defined by the color coding: green uptrend, red downtrend, if price doesnt close to opposite side of box then the trend doesnt change)
3. i will check if there is a so called No-Good-Swing, by looking at the MCAD looking indicator - TasNavigator; no good swing is defined as during the previous trend, the navigator failed to hit at least 20 for long or -20 for short, IF it ever cross the zero line ( the horizontal line, and i give it a buffer 5 to -5 i will review by case). this to me is some kinda momentum check.
4. if above is satisfactory i will start looking for entry, which usually not further away than the box +/- 15% of daily ATR, if entry is too far from box i will have less favourable RR so i will wait for pull back.
5. depend on the market conditions i may use market order or stop order to catch a fast break out, or limit order if i prefer to see more support instead of impulsive move. and i will build up the lot size untill it hit my intended risk as a % of capital, as long as 1-4 is satisfactory.
6. my stop will always be the low of the break out bar or the POC ( middle line of the box), if the risk is more than daily ATR ( meaning the box is very huge) i will pass, again, it means to me infavourable potential RR
7. i will start trailing stop aggressively using new information ( new box or new hi/lo etc) untill my stop is in the money or close to. then i will be less aggressive to trail my stop and start riding the trend. i will start aggressively trailing stop again or scale out after navigator hit 40 for long or -40 for short, where it is considered OB/OS
8. using same method on 10markets, always the same 10markets, i believe there is an small edge. i risk up to 1% of capital per signal but typically 0.5% - 0.75%. so at all time, even if all markets give signal, i will not risk more than 10%. I will consider to trade with bigger risk eventually but not now, i still have a lot to learn.

i hope this give you an idea on how i trade, do let me know if you wish to discuss further on any of these point.

cheers
DarrenC

Hi bmtrading9
I tend to view support/resistance as an area. i believe many others also have similar thought. if there is a key area confluence of h4 to daily and weekly, i tend to see the area got extended, or the volatility when price approaching the area become greater. so when there is a multi longer TF confluence, i often find my stop easily taken out.

which from another angle, i find it not particularly helpful if i were to use longer TF as additional reference to filter/manage my entry/exit. many times i would rather my entry is earlier and i have it approaching the longer TF, daily or weekly confluence area with some profit as buffer... instead of having my entry within the confluence of longer TF which is vulnerable. my strategy with a focus on h1 when it come to manage exit, it become not worth it if i were to increase my overall stop to cater for daily/weekly kinda volaitlity around their key area.

i have nothing to prove what i said is right, but i do have some numbers to tell me i dont need price to trade outside Daily tas boxes to be more profitable. Just end of June, I actually studied my trades (the last 600+ trades). i filtered out those trading at the same side of the daily box ( i.e. if Long, price also above daily tas box) the profitability was worse off.

would love to hear from your experience using multi TF (especially swing + daily and weekly). Thanks!

cheers
Darren

I don't trade breakouts/breakdowns (I consider myself mean reversion tried to change myself but I couldn't) so not sure if you can gain anything from me. I look at weekly, Daily, moving averages, Composite profiles etc and comes to a conclusion which way I should be trading then try to look at intra-day charts and add a position and 90% of times position will be profitable almost immediately and reverses back so for this kind of situation I will have some room to add more contracts at specified levels (I know you might be thinking averaging out but I consider it as a scale-in)...I don't have specified stop levels as I can build position up to 5/6 contracts on miniRussel or miniCrude and will take out contracts if I am not feeling right....pretty bad way to trade but what I observed is if hold on to the trade psychologically I will get rewarded multiple times but usually FEAR wins me.

I choose markets which are suited for my mentality such as miniRussell, miniCrude (Mainly because overnight margin). Currently I am trying to add miniDAX and US Dollar.