Jump to content

Recommended Posts

Posted (edited)

I have some roules before i enter in trade :

 

1- See ( on bookmap ) an Impulsive move throught and away from VWAP

2- At least 20 ticks away from VWAP and have new hight or low of the day

3- Falling volume on the pull back

4- See some momentum in OFA ( MOA ) on my direction

After seeing all those, now i can take a trade, and here an exemple on ES :

 

74263444ES.jpg

Edited by adnen_messaoudi
Posted (edited)
  tradermic said:

 

Yes, but price action doesn't give you good entry. with order book, your entry and specially your stop loss can be very precise

And it's not about more easy or more complicate. The more important thing, it's to be in the right side when you open a trade

Edited by adnen_messaoudi
Posted

Hi carlitus,

 

Here another exemple of my trade of today on crude oil

As you can see when the price start to move down we have huge amount of volume, but in the pullback the volume has decreased considerably

For the take profits, you can take the liquidity as a target (level II white line in Bookmap)

Well, I take 2,3, 4 max trades per day

Regards,

 

910094CL10707.jpg

Posted (edited)
  adnen_messaoudi said:
Yes, but price action doesn't give you good entry. with order book, your entry and specially your stop loss can be very precise

And it's not about more easy or more complicate. The more important thing, it's to be in the right side when you open a trade

 

bullshit!!!! entry limit is 2429.75/sl 2431.50 LOCATION is the KEY, not orderbook

 

example: https://www.screencast.com/t/uR6i8gRuUo

 

show the goldchart today: buylimit/plopp 9$

Edited by tradermic
Posted (edited)

----- take the liquidity as a target (level II white line in Bookmap) .-----

Does white line is not a true liquidity , does oreders will be pulled back ones price come 1 tick close and reappear again ones price move away so its looks like price was attracted to does white line . Thats why I dont use Bookmap just takes a space on my monitor . Area that you circle on a chart and presumably took a trade is POC the highest Volume area of the day that were price goes back and force a lot and should be avoided for opening any positions ( that lesson cost me many $$$).

I can suggest to add Volume bars to your OFA chart so you can see how important this bars are. Have a predefined levels from Volume profile and ones price reached them change OFA to order flow and see if price excepted or rejected .

 

http://i64.tinypic.com/168uetl.jpg

Edited by vit007
Posted (edited)

For how he believe in price action good luck, for me price action mean nothing and i don't want to be impolite, i would say price action is uneducated trading

God question Rawos, don't forget the new hight or low of the day after the penetration of the VWAP this's very important.

Why ? Because I want to see clearly an Initiated Buying . Then i want to see clearly an Absorption of selling and the buyer start to Reload, after seeing all this ( in Bookmap , Jig saw or directly in the DOM if you have an expert eye ) you can be sure 99% that the price will be continued in the direction of buying

Edited by adnen_messaoudi
Posted

you cant conclude that price action as uneducated trading . its one of the way of trading . if everyone follows a method and sell at same level where will be the buyers ? different methods of trading finally what loads ur account with $ matters . your method was good . thanks for sharing

 

thanking you

 

 

 

  adnen_messaoudi said:
For how he believe in price action good luck, for me price action mean nothing and i don't want to be impolite, i would say price action is uneducated trading

God question Rawos, don't forget the new hight or low of the day after the penetration of the VWAP this's very important.

Why ? Because I want to see clearly an Initiated Buying . Then i want to see clearly an Absorption of selling and the buyer start to Reload, after seeing all this ( in Bookmap , Jig saw or directly in the DOM if you have an expert eye ) you can be sure 99% that the price will be continued in the direction of buying

Posted
  adnen_messaoudi said:
I want to see clearly an Initiated Buying . Then i want to see clearly an Absorption of selling and the buyer start to Reload, after seeing all this ( in Bookmap , Jig saw or directly in the DOM if you have an expert eye ) you can be sure 99% that the price will be continued in the direction of buying

 

Thanks Adnen I never though that way but it makes sense, much more than mindless fade the trend when it reaches 2/3SD hoping for a reversion anyway.

Posted (edited)
  adnen_messaoudi said:

I want to see clearly an Initiated Buying . Then i want to see clearly an Absorption of selling and the buyer start to Reload, after seeing all this ( in Bookmap , Jig saw or directly in the DOM if you have an expert eye ) you can be sure 99% that the price will be continued in the direction of buying

 

I hope you took this one, it was a perfect example what you described above . 4 peaces to a direction puzzle - absorption volume ,divergence , ratio and single print .

 

http://i65.tinypic.com/3162fdi.jpg

Edited by vit007
  • 1 year later...
Posted
  vit007 said:
----- take the liquidity as a target (level II white line in Bookmap) .-----

Does white line is not a true liquidity , does oreders will be pulled back ones price come 1 tick close and reappear again ones price move away so its looks like price was attracted to does white line . Thats why I dont use Bookmap just takes a space on my monitor . Area that you circle on a chart and presumably took a trade is POC the highest Volume area of the day that were price goes back and force a lot and should be avoided for opening any positions ( that lesson cost me many $$$).

I can suggest to add Volume bars to your OFA chart so you can see how important this bars are. Have a predefined levels from Volume profile and ones price reached them change OFA to order flow and see if price excepted or rejected .

 

http://i64.tinypic.com/168uetl.jpg

 

Hello Vit, can you share the Dynamic Composite Volume profile from ACME? i try to find it here without lucky .

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...