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Zoras Trading Thread
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Zoras Trading Thread

  #1 (permalink)
Vienna, Austria
 
 
Posts: 3 since Aug 2019
Thanks: 0 given, 7 received

Zoras Trading Thread

Hello everybody and welcome to my thread!

My story is that I started trading a few years ago and tried various methods, I found success in using the orderflow to find trades. However, there never was real consitancy in my trading and also life overrolled me with new challenges leading to me abandoning my trading goals. Now I am back and trying to set foot in trading again with a few conditions:

First of all, I will trade one setup and one setup only.
The only thing I will trade for now are range breakouts, meaning that I will buy or sell a market that is currently in a compressed state and giving hints that it will break out. I will try to ride those trade just for the first push out of the range area. An image of how a volume profile could look for such a setup is attatched. The idea behind chosing that type of setup is that I hope to get a good feeling for when a market is active and when it is inactive, the logical consequence being that if I master this one setup the next will be to trade range reversals. For stops: I wont use fixed stops, I will have an emergency stop in place but will exit trades if I get the feeling that I am not right of if conditions change again. The usual entry point for a long will be between the mid and top of the range.

The instruments I trade will vary on the time I have during the week, being a student at the moment with a part time job available for trading hours are not always the same and so if I have time on (my) morning I will trade the 6E futures and if I find time on afternoons I will trade crude. I think these instruments fit me best in summer conditions. I might switch instruments going into september if the volatility and volume change dramatically. Also if I am not at home for trading hours for a week or so I might do some market replay on the weekends to get in some more screentime. Screentime will vary each week, depending on how much university and work I have to fit into my schedule.

Every trade will be logged with two pictures, one after the entry and one after the exit, with an explanation about the market state, the signal that led me to believe the range would break and the reason for the exit. I will also keep a more quantitative journal in Excel.

If anyone has questions about my approach feel free to ask, also critics are very welcome. Lets go the journey together!

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  #2 (permalink)
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  #3 (permalink)
Vienna, Austria
 
 
Posts: 3 since Aug 2019
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To clarify what tools I am using and what I am looking for.

I use a jigsaw dom to watch the market. On the dom I have only plotted price, a line for notes, bid&ask depth, volume profile and current trades. I also use a tape that is filtered for larger trades.

What I am looking for to enter trades is basically just a few things. I am speaking for long trades now, short is just vice versa. In the upper area of the range I look for increased activity in order size, speed and the volume it trades. I just want the market to clearly feel "more alive" and accelerate into the top of the range. another great hint is if the market rotates down and cant make it through the middle of the range and then goes for the top again. Picture is attatched. If the market extended the range on the lower side, meaning it broke the lower side for a bit, but then came back into the range, odds are the market might extend the range to the top too and one has to be carefull with a breakout trade. Also before I trade a range, I want the market to have spent some time there and the volume should be significant.

Also for longer trading sessions I might reset the volume profile at some point since I dont care about the longer term few not so much. I just want to see the latest "active" range and if it has significant volume in relation to the moves it put in before. I am not a mental acrobat and therefore might need to reset if the market circles an area a few times.

I like these types of trades for a good R:R. It is also a very logical setup, since in a range a lot of volume gets worked if it pops the top the shorts will puke and push the market further, longs might be happy and buy more.

If there questions or critics please just hit me up with it, looking forward to conversation.

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  #4 (permalink)
Legendary Market Wizard
Dallas, TX
 
Trading Experience: Intermediate
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Broker/Data: IB, Oanda
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Welcome

And best of luck Zoras.

K

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  #5 (permalink)
Vienna, Austria
 
 
Posts: 3 since Aug 2019
Thanks: 0 given, 7 received

The first day, the first two trades.

Trade 1:

CL was trading in a narrow range for some time already. It couldn’t quite reach the top of the range when it was rotating up for the last time. When the market reached the lower of the range, a bid that was over a hundred dropped to ~80. I therefore thought it was fake and maybe some longs might puke. The market really broke down and I exited really quick when it started to work some volume at the bottom. Still afraid of those volume spike reversals. A learning from that trade might be that if there a larger orders on the edge of a range and they shrink when the market is moving in that might be a good trigger to enter/confirm a trade.

Trade 2:

Another range was formed at the current daily low. The top was touched two times withouth reaching the bottom but held. When CL traded down it did cut through the middle of the range like butter. I sold when I saw the acceleration below the middle of the range, unfortunatly I was filled at quite the bottom of the range. After the low was broken the market dried up on volume and started flipping up and down. Since the daily drive was to the downside I thought that this shouldn’t be all and just moved my stop to break even cause the only thing my brain likes less than not winning is losing. I was stopped out. A learning might be that in a fast market you could use hotkeys with market buy and sell orders, i tried to click my way in on the dom and i could have been filled maybe 2 ticks higher.

Next target will be to hold myself accountable for my actions like that each day. Happy trading!

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  #6 (permalink)
Lisbon, Portugal
 
 
Posts: 34 since Jun 2017
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zora44 View Post
To clarify what tools I am using and what I am looking for.

I use a jigsaw dom to watch the market. On the dom I have only plotted price, a line for notes, bid&ask depth, volume profile and current trades. I also use a tape that is filtered for larger trades.


If there questions or critics please just hit me up with it, looking forward to conversation.


Hi zora44,

I use a similar technique but I found I have a higher winning potential with the following setup. I wait for price to trade to VAH or VAL, if price goes through the level for a couple of ticks - even better. If this were to occur at VAL I would wait until sellers get trapped, means a block trade or a significant big number left behind and price goes the other way. Then I wait for price to come back to that area and if in this case buyers hold you go with them. Stop loss is behind trapped party, target is the other side of value area but I use trailing stop as target.

Feel free to send a private message if you think I can be of any assistance. By the way my mothertonge is german too.

Cheers,
Wernersabel

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