Can it be done?

I am a bit pressed for time to dedicate to ET these days, but I will try to collectively reply to the previous posts from fishing, Dino, desktop, and a couple of PMs.

We will try to build on this one step at a time, and believe me, it will take time. But as the first step, let's focus on and try to spot the size, and perhaps if it makes it easier to correlate it to what you are used to seeing on the chart, use the chart along side with your dome. Then and only then, we will try to get into the discussion of:

whether the size is real, whether the size is trying to spoof the market, whether the size intends to trade that size, for example, unloading his long position (with a profit) or covering his short position (with a profit), whether the size is initiating a short position at that level or initiating a long position, etc. There are many scenarios that can relate to "size", but as I said, stick with one contract to trade and try to look for "size" on your dome as a starting point. All I can tell you that there is a reason behind it.

Lastly, I am not trying to invent the wheel here, many people trade the same way, as there are 1000s of different systems/indicators/chart patterns that many use very successfully everyday.
 
And here's the chart that correlates to the MD Trader.

And for the BUT:

The key is whether the price is approaching the HOD or coming off the HOD. Or stated differently, when was the HOD established (and similarly for the LOD). Remember, whether you are looking at the dome or any type of chart, the price is the price!
 

Attachments

Missed a lot of the action today. I was able to take a few screenshots of NQ very quickly (left to right). It's not about catching bottoms, but if you think in terms of "liquidity" and "size", the bounce was the quickest and surest money I made today! And that's why I just did not let this one go with a few ticks and manually moved my stop up.
 

Attachments

How is an offer 5 ticks away from the the inside market relevant. Those might or might not be real. Don't see how you can make decisions by what is going on with the bids/offers so far away from the market.
 
So what do you read into the large offers at 225 and 275 in the frist screen when the momentum is up? Your previous examples showed large offers and the market went straight down?

Thanks
 
agree with desktop22 here, just showing screenshots of a large bid or offer is of no use, I see them all the time but they pop up and disappear just as fast, surely you don't just enter short as soon as you see a big offer appear? do you front run it or wait to see if its real and then if it holds, what if it gets taken out? Do you go with it or against?

I can show you about a million screen shots where there are large bids or offers away from the market, doesn't mean it was a good short or long at that point, a little more info might be helpful, like what actually gets you in the trade?

EDIT: Ahh my apologies, didn't see your explanation about taking it one thing at a time, as you were :)
 
You must log in or register to reply here.
Back
Top