Where to start? My last post was in May,and i had just started to work with market profile and vwap.To be honest,i was completely overwhelmed by this.I liked market profile ,but had never seen it before.The vwap was also new to me.I had no idea what i was doing ,so i just didnt feel the need to journal.At that point,i was determined to work with MP and try to understand how to get an edge.
In order to do this,i just needed time.I used the gomi for the whole time,and just upgraded tp Rancho Dinero,which is much easier on my computer resources.Also,i swithced to RD vwap,as it is supposed to be less resource intensive...........................
my main goal is to become accountable for each trade.I will record the trades here,and try to give short specific reasons for each trade and goal.Minimal R/R is 1/1..........................
I will watch the cl for the data,but place my orders on the qm.Max risk on each trade is 20 ticks on the cl,which is $100 on the qm.Three stops is my limit........
As far as charts go,i use only a few..1)9range mp /vwap rth.2)9 range tpo/vwap eth.3)5min with 50ma/15ma/5ma.......
Im not sure which chart i will post,but i intend to show the entries.......
Market profile is an amazing tool,and gives the cl trader insight as to why price action does what it does.In my recap(20/20)there are opportunities each day,and they are logical.My goal is to get better at understanding the big picture each day.The tools are there,i just need to get better.........
This was a very busy summer,as i have 4 year old twin boys.Alot of coming and going,but always trying to stay in touch .I think the best thing for me to do for now,is trade the cl open,till about 11:30.I think the pm session is harder(for me ),and i want to get my routine down,and settle in.I would be happy with 1 -3 trades a day.Lets start tomorrow....cheers
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Ok,still workin out some bugs,and then ,probably going to simplify.I have my market profile charts up,and a 5 min.Today,after the jobs report,we had a huge spike.In the past,i remember having to wait for a while to let the charts get back to reality.I took 1 trade ,a stop.
I rely on the Overnight vwap in the 1st hour.We overshot that,and got a buy signal.In retrospect,probably a bad idea.The trade went almost 20 ticks,but the signs were there.I put up a 1min chart also.I have a 3 min chart on my screens as well.Price was clearly bouncing around in the vwap area,but progressing lower.The 1 min sets up first.Then the 3 min(obviously).The red triangles notate legitamate shorts.Honestly ,i just put up the 1 and 3 min charts today.They help the story unfold.I will keep up all of my charts ,for now.
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A screaming uptrend right off the open.I made a viseo,to go over the use of the 1,3 and 5min charts.Today ,there were multiple entries with the ascending mas supporting nicely.Ive seen enough i believe,with these 3 charts,to start getting aggressive.The Market profile charts are on y other monitor,and i will continue to observe the confluence.The 1 trade i took was a mistake.You just cant fight those mas like that..I jumped the gun,solesson learned.The 1 min wasnt even correct.I will review,and get this dialed in.
-$222 so far this month..The short i had in there was at .57(at end of video)price only came to .54.Regardless,there were plenty of good ones today.Im curious to see how well these 3 charts do in a range day,100 pt range
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