all that nip tells you is there was a lot of buyers and sellers at that price in the past, more than at other prices,so when we get ther the leftover long or shorts ,in this case longs, can cover for a scratch, if there are enough of them we reverse, if not, we absorb those and travel higher, supply and demand rule always wins, these are just reference points, a spot where there are likely to be more offers than at the scattered other prices
ES Journal - 2014
- Thread starter murica
- Start date
Scaleout.Scalper
Guest
Ya I have some experience with MP, these levels tend to be potential S/R areas, you just never know, it's like a coin toss, same with lines, that's why I have a different approach to trading, too much uncertainty when using technical tools to predict S/R points.
Thank you for explaining how you use it.
add 93
Scaleout.Scalper
Guest
Ammo,
I studied a lot of TA in the past, price action, oscillators, volume, channels, market profile, etc. If it's typical and classic, I studied it, so I know a lot about many approaches.
As far as positive expectancy, nothing really worked for me, I'm sure it works for others, obviously MP works for you, but it didnt for me, or perhaps it didnt work for my psyche.
My approach is simple, I patiently wait for market surprises. Trying to determine who's trapped, if there's uncertainty I dont trade, if there's clarity, I dont trade either, I like to wait for surprises particularly after clarity, when the market fakes the vast majority of traders, that's where I come in.
I like to see signals lie, and trap traders, fake them, because I know that when they are trapped they must exit in panic, many times at market due to pain.
Unfortunately, sometimes the market is basically trapping me, and that's not something I can avoid, but as long as I get trapped less than the traps I detect, I do fine.
Hope this gives you an idea of my style, and thank you for sharing your style and trades in the journal after all this time, always interesting to read new methods.
avg 88 15, bidding 88 25 and 86 25 for a reduce, thanks for the response scale
Typically the market goes sideways to down this time of the year, yet I can't help but seeing a zigzag move to 2000 by mid to late August barring any detrimental event. It seems like a lot, doesn't it?
Let's not forget though that we haven't had much traction for a while now, and I suspect that many are shorting with little expectation for upside. Their likely stops are some 40 points above from here, which will be an incentive for the big funds to tag. A win-win situation for the few and brave longs.
Let's not forget though that we haven't had much traction for a while now, and I suspect that many are shorting with little expectation for upside. Their likely stops are some 40 points above from here, which will be an incentive for the big funds to tag. A win-win situation for the few and brave longs.
takes some serious patience but in the end keeps one safe. mindset in this biz is huge and you have to stick with what works for you together with understanding risk for each trade which is all part of any trade plan.
thanks for sharing.