A measurable framework, using numerical historical data. Context can be inputted as well.
Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM
- Thread starter volpri
- Start date
My sense is that volpri's trading approach may be difficult to assimilate bc unlike anyone else who describes their trading, he gives highest priority to his assessment win probability, and thus takes trades that from a probability-independent risk reward calculation are often terrible. But probability sems to vastly exceed the RR in the trades he chooses, and thus he is profitable, per his descriptions of his trades.
I have seen earlier posts from volpri where he had more documentation of actual trades than in this thread so far.
I have seen earlier posts from volpri where he had more documentation of actual trades than in this thread so far.
Hopefully he clears it up himself, but below suggests to me a scaling in approach. That's not adding to losers or winners. That's saying I want to be in a full position somewhere in that area with average price range around X +/-Y. If that area doesn't hold, I am out. It's just different from "all in, all out" approach. @volpri, please correct me if I'm wrong.
"I GO LONG IN THE BOTTOM And average down if need be in 1/3 of the range."
From where I sit, yes it is. He is simply adding to losers or winners to move his average price closer to the BE point.
No I am not using order flow at all for my trading decisions. The chart tells me openhigh/low of the bar and the speed at which they are made.I believe you're using the data (order flow, market depth) in the DOM along with your chart analysis to help make trade decisions because you've made the following scalper analysis...
[This channel is broad enough to scalp both ways but the safer bet is obviously short scalping]
Then you make other commentary that has nothing to do with scalping...
[I trade off a 5 min chart with an occasional GLANCE at a 15 or 30 min just to see where the price action in the 5 min chart is located at in the 15 and 30 min charts.]
[Most scalping trades are gonna last 60 seconds to 30 minutes.]
Further, you've made commentary in other threads that was specifically about scalping such as agreeing with scalpers that a trader does not need timeframes to scalp although you did not imply you're one of those types of traders but the trader making the commentary used the DOM to make his trade decisions.
Also, I will disagree with you that scalpers can hold trades for 30 mins, 20 mins, 10 mins nor 5 mins but most retail scalpers are closer to the 60 seconds as you noted. In contrast, algo's (something you've reference many times here at ET) are high frequency trades in milliseconds (not minutes) and via automation.
Thus, I just need to respect your unusual definition or belief that you're scalping.
- In contrast, you've made a reference in this thread that you're trading manually and someone question you about that meaning. I think you were stating that your trading is not automated and its via chart analysis ?
Yeah, platforms can mark trades on charts but the chart does not differentiate between real money or simulator trades.
Seriously, if you didn't make the commentary about your trade performance like having a high win rate...this thread would be just as good as any of the other educational threads I've seen here at ET. Regardless, you seem to believe its OK to talk about your trade performance and not ok with engaging in any discussions about such...you refer to it as a dead end.
- Regardless, how hard is it to make a screenshot of the timestamp trade fills in your broker trade execution platform in comparison to making a screenshot of the chart with all that annotations (notes)...a few seconds...maybe ?
In fact, there's many good educational threads at this forum where the trader does not discuss specific trades nor trade performance...some even discuss their analysis of the price action in real time with accuracy about what they expected the price action will do.
The believe quote by you was in reference to the quote by digitalnomad.
Your reply below is to the above quote...
Digitalnomad did not say anything about selling. Yet, a lot of traders at this forum do (have) go to all the trouble to mark up charts to later state in the thread the charts do not represent real money trades but only after they were questioned many times about such whenever the trade performance was mentioned by the traders marking up their charts.
Simply, they went to all the trouble to mark up charts for popularity and/or give back to the community and to be believed when/if questioned if the concepts are making them money.
Thus, you're asking for something (e.g. to believe you) especially when you make the commentary about your profits and high win rate.
The point I'm making if you still don't understand...the best way to not talk about nor answer any questions about your trade performance (you refer to it as a dead end)...don't mention your trade performance.
Yet, its still a public forum and when traders continue talking about their trade performance...it opens the door to other conversations about the trade performance that you may consider to be a dead end.
Other than that, if I ignore the scalping commentary, ignore the DOM commentary because it contains no screenshots of the DOM to understand what you're talking about in reference to the DOM itself and ignore the trade performance commentary because as you stated...its a dead end...
It's a good education thread because the annotations on the chart with the message posts are very clear and explains what you see in the price action even though you've now stated you only use the DOM for trade executions when in fact your prior commentary about the DOM was in reference to pressures that you saw in its price action of the DOM.
wrbtrader
- Actually, my only question or curiosity remaining involves your position size management considering you use different position size as in you do not use the same size for each trade.
safer shorting because it was a bear channel. Nothing to do with order flow.
Yes I look at 15 and thirty min charts and it does have something to do with my def of scalping maybe not yours.
Some of my scalps are 60 seconds even less if price goes swoosh right after i get in. Some are 10 or more min and yes it does qualify for my def of scalping 1 to 8 points. Sometimes it takes that long. Even longer. You may not call it a scalp but I do. See your def of scalp is and mine are just different.
no i don’t need to look at other time frames to scalp but I do sometimes. I am mentioning it here because I am showing the relationship between TF’s. You may need to study my posts here to understand why I would even look at other time frames.
Some algo’s are milliseconds but certainly not all.
You got all the proof I am giving. Just learn the concepts and practice them. Maybe they will work for you.
yes i have a high win rate and it is important for folks to see that this way of trading has the potential to render a high win rate. at least I think that is important. especially the averaging down trades done in the right context can render high win rate. Maybe I will be successful driving home that point. I think too often traders get their accounts busted by having stops losses too close and after taking them out the market goes in their direction. when they could average down and end up with a winner.
thanks for the comment on the thread being good education. I don’t ever recall mentioning pressures in the Dom. All the pressures i talk about are on the chart or individual bars. Again I do not use the DOM for anything but placing trades and adjusting bracket orders, according to what I see on the chart. The is not where I make my trade decisions.
Now years and years ago I used to scalp the spread on level 2 back in the days of when prices were quoted in 1/16...1/8..1/2...etc. but that has absolutely nothing to do with this type of trading I am presenting here.
As far as position size yes I vary that and that sometimes depends on the volatility of the market and the dynamic as the price action unfolds. i try not to trade big size in these post because most traders probably don’t have big accounts and if I do they could possibly see it as something that cannot be achieved by themselves.
You mention this often. What is your cut-off point from high-win-rate to not-high-win-rate?
I believe you have shown in the past that your usual win-rate is 90 % of your trades. So at what level does win-rate become a detriment in your eyes? 80%? 70%? 50%?
I thought I was annotating every entry and exit. Where did I miss some?
I could, I suppose. Since averaging down seems to cause earthquakes.
It can be looked at as scaling in however, it IS adding to a losing position. I will add long in a range generally all the way to the bottom and even somewhat through the bottom i.e. on the other side of the bottom but I don’t like to add much further than that and had rather just hold my averaged down position for longer time period for price to come back as long as my premise is still holding water. Of course, sometimes I make a mistake or bad judgment like anyone else.
Last edited: