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IB Trading Futures: Price + Volume

post #1 of 813
3/10/11 at 3:54pm
Thread Starter 

Welcome to the Jungle. 

 

Trading using price and volume.

 

I'm a futures day trader. I don't usually try to predict direction or really worry about what direction price is going.

I look to find both advantageous long and short positions. I use targets which are usually seen in the volume

profile as well as my own pivots that I wrote based on volume by price.  

 

 

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post #2 of 813
3/10/11 at 6:34pm
Boooooyah Mr.Ichi!

Lookin' forward to it!
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post #3 of 813
3/10/11 at 10:18pm

Is this working for you? or is it still a work in progess

 

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post #4 of 813
3/17/11 at 2:50pm
Thread Starter 

 

Not much to add. I have had 13 winners and 3 losers since Monday, last week. 

I did a live trade today in the Stock Market Today thread using the POC on the 15 minute for a 5 point scalp with no draw down (Nasdaq Futures /NQ). I'm working on the bigger moves, taking my time getting there. I will no doubt get there though. 

 

http://www.hotstockmarket.com/forum/thread/43337/stock-market-today-equities-futures-forex-options-intraday-discussion/95960#post_2714963

 

http://www.hotstockmarket.com/forum/thread/43337/stock-market-today-equities-futures-forex-options-intraday-discussion/95960#post_2714964

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post #5 of 813
3/17/11 at 3:40pm
Thread Starter 

I'm doing a good job of not panicking when the trade doesn't go my way right away.

I need to do a better job of not panicking when it turns and does go my way. 

 

I have my trade plan in place and when the trade goes against me, everything is cool.

I know when I'm bailing. Sometimes price will stick around the red for a while though

and it will start to worry me. Then when the trade breaks and I get my play I am so reluctant

to be in the green that I want to get out before I had planned. Then I'm out thinking, sweet, didn't get burned and made a little dough. 

But then the trade progresses as I had initially planned and I see that I did get burned. I burned myself

out of 5 handles, that was part of the plan. 

 

I must stick to the plan. It's okay to adjust the plan, but I need to adjust it in my favor. Don't kill a winner. 

The biggest battle in trading is in your mind. I'm pretty well dialed for the most part, but I still need to work

on letting the plan run it's course. 

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post #6 of 813
3/17/11 at 6:26pm
Thread Starter 

The Art of War

http://www.chinapage.com/sunzi-e.html#13

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post #7 of 813
3/22/11 at 10:23pm

Good shit my dude, nice to see you making money. You putting more money in each trade now?
 

Quote:
Originally Posted by IchibomB View Post

 

Not much to add. I have had 13 winners and 3 losers since Monday, last week. 

I did a live trade today in the Stock Market Today thread using the POC on the 15 minute for a 5 point scalp with no draw down (Nasdaq Futures /NQ). I'm working on the bigger moves, taking my time getting there. I will no doubt get there though. 

 

http://www.hotstockmarket.com/forum/thread/43337/stock-market-today-equities-futures-forex-options-intraday-discussion/95960#post_2714963

 

http://www.hotstockmarket.com/forum/thread/43337/stock-market-today-equities-futures-forex-options-intraday-discussion/95960#post_2714964



 

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post #8 of 813
3/23/11 at 11:52am
Thread Starter 

I've made a handful of 2-3 lot trades with the Nasdaq. I'm okay with just 1 lot for the Euro, Oil, Gold, or Silver though. The risk/reward per tick is plenty to work with. The action on the price ladder in Gold and Oil is especially quick and can run away in the blink of an eye. I'm trading with my stomach full rather than hungry. That hunger drives greed and that's usually when I slip up. 

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post #9 of 813
3/23/11 at 5:19pm
Quote:
Originally Posted by IchibomB View Post

I've made a handful of 2-3 lot trades with the Nasdaq. I'm okay with just 1 lot for the Euro, Oil, Gold, or Silver though. The risk/reward per tick is plenty to work with. The action on the price ladder in Gold and Oil is especially quick and can run away in the blink of an eye. I'm trading with my stomach full rather than hungry. That hunger drives greed and that's usually when I slip up. 


I'm same way bro.
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post #10 of 813
3/25/11 at 6:37pm
Thread Starter 

Master the Markets 

Tom Williams

 

 

Taking a Professional Approach to Trading & Investing by 
Using Volume Spread Analysis
 
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post #11 of 813
3/25/11 at 11:15pm
Quote:
Originally Posted by IchibomB View Post

Master the Markets 

Tom Williams

 

 

Taking a Professional Approach to Trading & Investing by 
Using Volume Spread Analysis
 

Not gonna lie, title and description bored me. Checked out the actual book and I'm definitely interested in finishing it now. Thanks bruh.
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post #12 of 813
3/26/11 at 12:27pm
Quote:
Originally Posted by IchibomB View Post

Master the Markets 

Tom Williams

 

 

Taking a Professional Approach to Trading & Investing by 
Using Volume Spread Analysis
 


Loved this quote in regards to "news" .....

 

 

Mr Greenspan, the chairman of the Federal Reserve appears on the television and makes what appears to be
a bearish statement – the market falls alarmingly in response to this news.
 
Newscasters appear grimaced on television, reporting why the market has fallen today: “The market has
fallen dramatically today, on negative statements made by the chairman of the Federal Reserve”. To add to
the impact and drama of the announcement, any other negative information is collected to support the story.
Now why is this news release leading you astray and harming your trading? Because this is how the news
should have been reported:
 
“The market has fallen alarmingly today. Bearish statements made by Mr Greenspan, the chairman of the
Federal Reserve, caused the professionals to mark the market down, in a manoeuvre to discount the
negative news. This had an effect on weak holders and uninformed traders, causing them to panic sell their
holdings to professional traders, who have been waiting for this opportunity to buy at lower prices.
Professional traders were aware of the forthcoming press release well in advance of the announcement,
and were ready to absorb a huge amount of stock. They stand to profit handsomely in the days ahead, as a
result of this successful and expertly timed operation”.
 
Listen to the news by all means, but always ask yourself, "Have professional traders used this news to
mark the market either up or down, as a moneymaking manoeuvre?"
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post #13 of 813
3/26/11 at 1:01pm
Thread Starter 

It would be nice to have access to news before it's released, wouldn't it!? asshats...

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post #14 of 813
3/28/11 at 12:33am
Thread Starter 

Market Internals Script - not sure who the original coder is

 

#---------------------------------------------------------------begin of Script

declare lower;
input show_NYSE = {"No", default "Yes"};
input show_NASDAQ = {"No", default "Yes"};
input centerline = 1;

plot uv = if(show_NYSE, (close("$UVOL") / close("$DVOL")), double.nan);
plot dv = if(show_NYSE, (close("$DVOL") / close("$UVOL")), double.nan);
plot nasu = if(show_NASDAQ, (close("$UVOL/Q") / close("$DVOL/Q")), double.nan);

plot nasd = if(show_NASDAQ, (close("$DVOL/Q") / close("$UVOL/Q")), double.nan);


plot center_line = centerline;
uv.SetDefaultColor(Color.GREEN);
dv.SetDefaultColor(Color.RED);
nasu.SetDefaultColor(Color.CYAN);
nasd.SetDefaultColor(Color.GRAY);

#---------------------------------------------------------------end of Script

http://www.investopedia.com/terms/b/breadthofmarkettheory.asp

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post #15 of 813
3/28/11 at 12:39am
Thread Starter 

TICK FADE indicator by Prospectus

 

Read about it here

http://readtheprospectus.wordpress.com/2009/02/11/tick-fade-indicator-for-think-or-swim/

 

# Tick Fade Indicator
#
# This indicator paints a dot if the NYSE tick for the
# current chart timeperiod breaches a threshold value.
#
def na=double.nan;
#
# Define how you want the value plotted. I chose 30% of
# bar range, plotted that distance above the high/low:
#
def range = high – low;
def plotter=range*0.3;
#
# Input the threshold values you are watching:
#
Input uThreshold=1000;
Input lThreshold=-1000;
#
# Now reference the high / low of corresponding bar
# for the NYSE tick:
#
def hi = high("$TICK");
def lo = low("$TICK");
#
# Define the plots:
#
plot lowtick=if lo<=lThreshold then low-plotter else na;
plot hightick=if hi>=uThreshold then high+plotter else na;
#
# Formatting:
#
lowtick.setdefaultcolor(color.yellow);
lowtick.setstyle(curve.points);
lowtick.setlineweight(4);
hightick.setdefaultcolor(color.yellow);
hightick.setstyle(curve.points);
hightick.setlineweight(4);
 
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post #16 of 813
3/28/11 at 5:48pm
Thread Starter 

Wychoff Trading Method (Origination of VSA/VPA Analysis)

 

EDIT - I do not have permission to add attachments... 

 

If interested, I'll send you the link. It's a great read!

 

 

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post #17 of 813
3/29/11 at 2:23pm

Ichi .... do me a favor.  Look at the charts for OME, particularly the 5min.  This thing took a dip today over 10% and went crazy.  Using the price/volume analysis can you detail what occurred here? 

 

I read that Master The Markets pdf and it blew my mind.  From looking at that 5min chart it would seem a large profit taking shake occurred, following by steady "regular" volume, nothing that wouldn't indicate more distribution of shares.  

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post #18 of 813
3/29/11 at 2:35pm
Thread Starter 

Text book stopping volume at 9:05 PST - huge increase in volume with the close in the middle to high part of the bar in a downtrend. 

 

It's basically an alert to a potential reversal as well as accumulation/absorption by smart money. 

 

 

MTM is a must read IMO thumbup.gif It changed my trading tremendously. 

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post #19 of 813
3/29/11 at 2:53pm
Quote:
Originally Posted by IchibomB View Post

Text book stopping volume at 9:05 PST - huge increase in volume with the close in the middle to high part of the bar in a downtrend. 

 

It's basically an alert to a potential reversal as well as accumulation/absorption by smart money. 

 

 

MTM is a must read IMO thumbup.gif It changed my trading tremendously. 

 

It already has for me.  Another piece to the puzzle.  Confirmed many things I've noticed as well.
 

 

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post #20 of 813
3/29/11 at 2:58pm
Thanks for the MTM .pdf. I'm going to check it out.
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