Scalping Index futures

[5Pillars]

Quote from ticktrade:

When you watch totals at price levels would that be the same as a realtime market profile?
I signed up for the trial at Market Delta, will take some time to learn what I'm looking at. I have a study for esignal for bid ask analysis. Didn't know how to read it until I watched some of the videos at Marketdelta. I plotted it again today and found it interesting to watch. It doesn't collect any history so it is only from bar zero. Maybe you could tell me if I'm seeing it correctly. I think it is similar to some of the Marketdelta charts. In the afternoon as the uptrend started the volume on the bid was higher for a couple bars(2min.) than the ask got hit and the rally stalled. The next few bars showed the volume on the ask higher than the bid put declining, than a bar with higher bid volume marked the bottom of the correction so I jumped in there. Turned out to be a good point.
I was trading from work on a laptop and don't have the marketdelta on it yet. I also didn't know how to get the cumulative and track only the regular session. I have the answers from tech support now(they are quick to reply) so I have lots of work to do tonight. Do you track this stuff on the ym and es, if so do they act similarly? During the afternoon chop I couldn't get a feel for what it was telling, maybe it was saying nothing.
When you say have the delta at your back are you referring to the cumulative?

Sorry about so many questions but I had lots of them and find this to have lots of potential for improving my trading.
Thanks for suggesting delta in your posts.

Here is part of my MD chart (Inv R/T chart) from the last part of the day session for reference....

http://www.ttrader.com/mycharts/display.php?p=40371&u=5pillars&a=5Pillars&id=1699

I track delta on numerous futures products everyday (and I am now starting to track certain stocks....this is new to me).

When I say "delta" at my back, I am referring to BOTH the bar that I am in (minute, tick, or volume based) and the cumulative for most trades I do intraday. There are some trades I make (system scalps) that I might only have the intrabar delta at my back and not the cumulative of the whole day.

You will need to do some studying to grasp the fundamentals of market delta and then just watch it realtime until you get that "lightbulb" affect.

 

[5Pillars]

Aok


Registered: Aug 2005
Posts: 134


07-25-06 05:35 PM

http://linnsoft.com/




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Quote from ticktrade:

What is Investor R/T?

Before traffic gets bad? Around here it's almost always bad. Seattle area.
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"A" "OK" - Thanks for helping with the link!

 

[5Pillars]

Figured I throw out a few more examples from today for those who are new to Market Delta charts.

Here are two of about 8 really great scalp set-ups from today....

The first chart shows a great long scalp area right at the end of the 08:40 (central time...right near the market open) bar as the start of the 08:45 bar began. The market delta out of the cash open was positive, so the first pullback after the initial surge gave a good area about 08:40 to make a scalp long entry (going for 2, 3, or 4 ticks...whatever is your style). The delta climbed more positive as the 08:45 bar was forming and anyone could have seen the increased rate of buying during this period. Long entries from 1280.00 or below were optimal for this method at this time.

http://www.ttrader.com/mycharts/display.php?p=40389&u=5pillars&a=5Pillars&id=1699


My next example was right after the delta shifted to negative on the day. There was a perfect set-up for a short scalp as the 09:40 bar finished and the 09:45 bar was forming. The optimal short entry here would have been around 1276.25 to as low as 1275.75 for another quickie....LOL!


http://www.ttrader.com/mycharts/display.php?p=40391&u=5pillars&a=5Pillars&id=1699


These were two simple scalp trade set-ups from today with the overall day and intrabar "Delta" at your back.

 

[5Pillars]

16 ES "market delta" based scalp trades today..............everyone should have had some really good scalps with all the price movement. The failure of 1278.00 later gave some really clean scalp trade set-ups to close out the day.

 

[5Pillars]

Here was the "delta" look on a 5 minute chart as we failed 1278.00 today (ES daily 200 SMA).....

http://www.charthub.com/images/2006/08/09/ESmarketdelta.png

 

[EdgeHunter]

Quote from 5Pillars:

Here was the "delta" look on a 5 minute chart as we failed 1278.00 today (ES daily 200 SMA).....

http://www.charthub.com/images/2006/08/09/ESmarketdelta.png

Hi 5'

I tried MDelta 1.5 years ago but this looks like an updated inteface...

The side columns...

First Column... tracks Delta (Diff between Buys versus Sells at that price like Market Profile during whole day?

Second Column... Total volume traded at that price during the day?

Third Column... Percent of volume trade at that price during the day?

At the bottom would be...

Top number - total contracts traded during that time frame delta bar?

Bottom number - Delta change (Diff of buys versus sells) at the end of the delta column time...

it looks like more info in less space than before... kudos to that !!

would this be an accurate assessment of the new interface look... ???

thanks 5'

cj...



__________________
HAVE STOP - WILL TRADE

If You Have The Vision We Have The Code

 

[5Pillars]

Yes sir.....this is the Investor R/T version of "market delta" and your information is accurate from your post.

Investor R/T and MarketDelta.com are going to cross promote the new product they are working on together by September 1st....you will have everything you see know with a few more added features.

This is by far the best tool (and information to base trades from) I have ever used in all my years of trading!


May the "Delta Force" be with you!

 

[Spectra]

Average 4 trades per day 15 ticks on the YM

Focus on setup quality, not quantity. I know guys who sit in front of the monitor all day and trade 1 time every 2 days or so.

 

[Pekelo]

Quote from Spectra:


I know guys who sit in front of the monitor all day and trade 1 time every 2 days or so.

I would like to be like those guys. Like a lizzard sitting there waiting for the prey, then executing the move quickly...

 

[eusdaiki]

Quote from Pekelo:

I would like to be like those guys. Like a lizzard sitting there waiting for the prey, then executing the move quickly...

i prefer the locust approach. Eat everything in your path [including the lizzard]