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Market Profile Trading Academy / MissTrade's Matt Davio - Ask Me Anything (AMA)
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Market Profile Trading Academy / MissTrade's Matt Davio - Ask Me Anything (AMA)

  #1 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received

Market Profile Trading Academy / MissTrade's Matt Davio - Ask Me Anything (AMA)

Matt Davio, aka MissTrade, is the Founder and CEO of Anti Fragile Trading and Market Profile Trading Academy, and will be monitoring this thread so that he may answer any questions that you post here relating to his products or services, Market Profile and Auction Theory, or just trading in general.

Please keep in mind that some customer service/technical support issues are best handled through proper channels at Anti Fragile Trading/Market Profile Trading Academy.

Matt Davio has been a full-time professional trader since 1991. He primarily uses Market Profile as his basis for framing the market, and he trades a wide variety of products. Matt has worked with Peak6 Trading and Parallax, and has also run a private hedge fund.

Matt has also presented a couple of webinars on futures.io (formerly BMT). Check the webinars section for more information.

In addition to this thread, I will also be asking Matt Davio to stop by on occasion for a casual webinar where he can answer questions via audio while also sharing his screen to visually demonstrate any points as needed. The date/time of those sessions will be announced here in this thread. These sessions will be limited to questions only, there is no prepared presentation. After the session ends, the recording will be posted in this thread.

You can find more on their website:
Earn While You Learn | MissTrade Market Profile Trading Academy

Feel free to ask any questions below and we'll do our best to get them answered.

The futures.io (formerly BMT) "AMA" (Ask Me Anything) series is by invitation only. It is part of a new program we are launching shortly called "Certified Trustworthy", something that has been months in the making. I will provide all the details of this new program as soon as it is ready for launch.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #2 (permalink)
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  #3 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received


Matt,

Let me kick off the questions with a few of my own.

a) Why market profile and not volume profile? Do you believe time is more important than volume, or the relationship between time & price to be more important than volume & price?

b) Would you classify yourself as a scalper, day trader or swing trader?

c) When you look at a market like the ES which has been in a strong bull market for the last several years, and has been in a very tight upward channel this calendar year, what are you looking for in terms of a "setup" to take a trade? Balance, imbalance, micro trend reversal, continuations? What kind of patterns do you look for to initiate a trade?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #4 (permalink)
 Vendor: marketprofiletradingacademy.com 
Bend, Oregon
 
Futures Experience: Master
Platform: Ninja
Broker/Data: Ninja/Amp TOS, IB
Favorite Futures: NQ
 
MissTrade's Avatar
 
Posts: 63 since Mar 2013
Thanks: 5 given, 64 received

TPO and Volume Profile

Mike,

Thanks for allowing this open feed and kicking of the start of questions.

I do utilize both Market (TPO) profile for my shorter term intraday charts along with going back about 3 weeks. I utilize these along with my longer term time frames charts which primarily focus on the Volume Profile. I find that the combination of both these tools helps me with the puzzle pieces that are this game of Markets. I do a top down look at the markets going back over 10 years to find long term trends and break it all the way down to the shortest time frames. Utlizing the Volume Profile here helps great find the areas of interest and control for me. The TPO is important in the intraday view more than the volume profile. I do consider Time more important that price, that is the more time at a price is more important than one tick at a single price for example.

I am definitely a daytrader if opportunities arise, however, I don't like to scalp, my goal for the day as a daytrader is to pull out 1/4 or 1/2 of the total range the day trades. So if the ES was 20 pts wide today, if I was successful I was able to take out 5-10 pts out of my daytrading efforts. I usually am able to do this if successful in 1-3 trades maximum. That being said, I have no problem swing trading positions, and those typically last 1 day to 4 weeks. I do utilize options in some of my longer timed trades along with futures.

Your 3rd question is not a simple answer. The ES has probably been my least favorite financial to trade over the 2013 campaign due to the severe dryness in total intraday ranges. I prefer the more wide NQ at this point as the ranges are so muted in the ES right now. I'm not much of a Pattern guy, i still prefer time over patterns and ultimately time over price. I know it sounds strange, to some, but when you view Time at price, I think it actually simplifies the decision making process.

There are times to fade the profile, go with the trend, and/or trade counter trend. It really depends upon where we have been and helping me to pick spots on where we may or may not go. I always write a daily narrative on the different futures vehicles I trade and have contingent narratives based on where I think the market could trade. That being said, the market doesn't always do what I want when I want, so you must be able to recognize when a plan goes bad, and have either and adjustment, or decide that the day has beat you and wait for better setups in the next trading days ahead. There will always be another day in free markets.

Looking forward to more questions from the Forum!

Thanks again Mike,


Matt

If you have any questions about the products or services provided, please send me a Private Message or use the BMT "Ask Me Anything" thread
The following 4 users say Thank You to MissTrade for this post:
 
  #5 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received

Matt,

So far ES YTD has produced 14.29 points on average (RTH) or $714.50 per day per contract in volatility when you take 14.29 points x $50.00/point.

I posted some stats here:
https://futures.io/elite-circle/20164-master-homework-statistics-thread-23.html#post308554

I don't trade NQ, can you share similar figures so we can compare volatility?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #6 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received

Matt, do you trade the Euro?

Here are my Euro charts

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


So we have a multi-year downtrend followed by a smaller 9 month uptrend, and then within that we have a roughly 5 week micro downtrend.

I'm using a monthly TPO and a daily TPO here to find some areas of interest along side basic channels.

Perhaps you can share your view of the Euro for comparison? What platform do you trade with?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #7 (permalink)
 Vendor: marketprofiletradingacademy.com 
Bend, Oregon
 
Futures Experience: Master
Platform: Ninja
Broker/Data: Ninja/Amp TOS, IB
Favorite Futures: NQ
 
MissTrade's Avatar
 
Posts: 63 since Mar 2013
Thanks: 5 given, 64 received

ADR

I sure miss 2008 and 09 ranges in the ES Mike!

NQ is a bit wider $20 per contract per full point is the nominal.

If you have any questions about the products or services provided, please send me a Private Message or use the BMT "Ask Me Anything" thread
 
  #8 (permalink)
 Vendor: marketprofiletradingacademy.com 
Bend, Oregon
 
Futures Experience: Master
Platform: Ninja
Broker/Data: Ninja/Amp TOS, IB
Favorite Futures: NQ
 
MissTrade's Avatar
 
Posts: 63 since Mar 2013
Thanks: 5 given, 64 received


Big Mike View Post
Matt,

So far ES YTD has produced 14.29 points on average (RTH) or $714.50 per day per contract in volatility when you take 14.29 points x $50.00/point.

I posted some stats here:
https://futures.io/elite-circle/20164-master-homework-statistics-thread-23.html#post308554

I don't trade NQ, can you share similar figures so we can compare volatility?

Mike

Mike I do trade the NQ mainly because it has traded wider than the ES for the past 6-9 months, and the wider moves offer me as an intraday trader more opportunities intraday than the ES right now. Alot of this has to do with AAPL and GOOG right now obviously.

We have been in week wide ranges of about 3% for the NQ over hte past 5 weeks or so . .. . NQ*0 | Detailed Commodity Futures Price Quote for E-Mini Nasdaq 100

This compares vs the ES which has been stuck 1.5-3% wide over the same period of trade. More consistently wide in NQ over ES. I'll stick there until this changes considerably. ES*0 | Detailed Commodity Futures Price Quote for E-Mini S&P 500

If you have any questions about the products or services provided, please send me a Private Message or use the BMT "Ask Me Anything" thread
 
  #9 (permalink)
 Vendor: marketprofiletradingacademy.com 
Bend, Oregon
 
Futures Experience: Master
Platform: Ninja
Broker/Data: Ninja/Amp TOS, IB
Favorite Futures: NQ
 
MissTrade's Avatar
 
Posts: 63 since Mar 2013
Thanks: 5 given, 64 received


Big Mike View Post
Matt, do you trade the Euro?

Here are my Euro charts

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


So we have a multi-year downtrend followed by a smaller 9 month uptrend, and then within that we have a roughly 5 week micro downtrend.

I'm using a monthly TPO and a daily TPO here to find some areas of interest along side basic channels.

Perhaps you can share your view of the Euro for comparison? What platform do you trade with?

Mike

I do trade the Euro and more importantly, as I've said vocally and loudly over the past 3=4 years, that the US dollar is the item that drives all currencies right now. All Central Banks are in the game to devalue their respective cuurrencies as fast as they can vs the others. Its an absolute chase to the bottom and the result we don't know, but I do know this has never been seen in the history of markets, where all countries are at once trying to devalue their currencies concurrently with all others. A true night mare, that the ending is unknown.

WOn't be pretty, and we won't know until how it begins until the first major currency fails.

Matt

If you have any questions about the products or services provided, please send me a Private Message or use the BMT "Ask Me Anything" thread
The following user says Thank You to MissTrade for this post:
 
  #10 (permalink)
 Vendor: marketprofiletradingacademy.com 
Bend, Oregon
 
Futures Experience: Master
Platform: Ninja
Broker/Data: Ninja/Amp TOS, IB
Favorite Futures: NQ
 
MissTrade's Avatar
 
Posts: 63 since Mar 2013
Thanks: 5 given, 64 received

Euro Trading Charts Top Down


Monthly Weekly Daily Euro




240 min 60 min 30 min Euro

15 min 5 min 1 min Euro Charts

If you have any questions about the products or services provided, please send me a Private Message or use the BMT "Ask Me Anything" thread

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