Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM

[Zodiac4u]

I use standard classic TA concepts and a few other things so the tools I use are not something unique that I have discovered. Even how I interpret them is not even unique. I am pretty orthodox. But what MAY be called unique is my praxis. I am trying to explain how I employ orthodoxy in such a praxis the leads to a orthopraxy, that will lead to $$$.

Traders don’t need to reinvent the wheel or come up with a “new edge.” Any edge will soon become ineffective. But the correct practice of PA will be with us traders for many many years to come. At the very minimum our generation will never see a major change. Even the introduction of technology ...HFT’s...algo’s has not fundamentally changed price action for the average trading chart. We still have ...BO’s ...channels... ranges... PB’s ... crashes..... pauses...consolidations...accumulation...markups...markdowns..flags..pennants..triangles....etc ad nauseam...Those things were were on the charts 50 years ago and they are here today on our charts in spite of all our computer technology. Those Things WILL NOT disappear anytime soon. They are part of our human makeup and how we create and deal with the market and market moves.

The institutions cannot hide what they are doing. The charts will always reveal it.

Understanding is one thing. Praxis is another thing.

I don't really think you need to explain anything, its your method, Journals are not about show us everything, just post your stuff when you finish with your day or when your done. I have no interest in what other people use or do, I'm past that point, but as far as that other stuff your talking about, Market behaviors will always change, It wouldn't matter to me if it's bot's or people, just enter your trades, the accumulated foot steps will always be there for someones viewing.

 

[Zodiac4u]

That is a key takeaway I've gotten from Brooks - recognizing the primacy of institutional volume.

No i haven't seen the neon sign that says institutions are buying right now, That transparency is not available on my platform, quantity yes but by who? That's another story.

 

[tyro]

No i haven't seen the neon sign that says institutions are buying right now

Yes, and that is not what I meant. I was referring to the fact that if 90% or more of the volume is institutional, then institutional volume is primary. In other words, institutions are on both sides on every bar. Price action shows which side, if any, is in control. But institutions are always buying right now, and institutions are always selling right now.

 

[volpri]

No i haven't seen the neon sign that says institutions are buying right now, That transparency is not available on my platform, quantity yes but by who? That's another story.

You might need to check the current on the neon bulb. Is the sign plugged it?

 

[Zodiac4u]

You might need to check the current on the neon bulb. Is the sign plugged it?

That transparency is not available on my platform, quantity yes but by who

I guess i should have known you knew which Institutions were buying and selling, I didn't realize your expertise was that extensive,

 

[volpri]

That transparency is not available on my platform, quantity yes but by who

I guess i should have known you knew which Institutions were buying and selling, I didn't realize your expertise was that extensive,

ROFLMAO. Just remember the sheep don’t have enough wool to move the markets. Take today’s gap up on the open in the ES. Bears push back hard to close the gap. Bulls waiting to see how far they get before buyers come in. Then bulls push hard back up. I am buying and selling, averaging down, entering and exiting over and over, as bulls push it hard up. I am compounding when I can.

I am working on something else right now so don’t even have the trading computer with me. But off the top of my head I’d say by that 10th bar from the low (I was counting earlier) the odds favor that was near the low for the day and it has been made already. And by that 18th BO we are heading north some more then maybe into a broader channel or a range. We will see how it pans out.

Now that was not mom and pop traders driving ES down closing the opening gap and it certainly was not retail driving it back up on the reversal. Potato chip and soft drink jingle change ain’t gonna do that. The institutions are not interested in your money or mine. They are interested in taking millions from each other. We don’t move the market but they do and they cannot hide what they are doing.

 

[tiddlywinks]

That transparency is not available on my platform, quantity yes but by who

I guess i should have known you knew which Institutions were buying and selling, I didn't realize your expertise was that extensive,

Price alone does not provide any degree of transparency beyond a logical connection which as we all know, market logic is different than a thinking man's logic. Look at the last 10-12 years for proof of that.

So on one hand, you make a valid point... Volume, which is missing from Volpri's charts (afaict) does give a degree of transparency. On the other hand, adding criteria of who/where that volume is coming from is non-nonsensical (and meaningless, imo).

That said, just looking at volume of the last 5 days, we have seen the highest levels (thus far) in the front month, not coincidentally, along with a welcome increase in volatility. Now if anyone thinks that it's day-traders and mom and dad accounts that are pushing 10's or 100's of thousands contracts daily, in some instruments totaling in the millions of contracts, well, perhaps reading books on how markets work rather than specific trading techniques is better suited at this time.

 

[Zodiac4u]

Price alone does not provide any degree of transparency beyond a logical connection which as we all know, market logic is different than a thinking man's logic. Look at the last 10-12 years for proof of that.

So on one hand, you make a valid point... Volume, which is missing from Volpri's charts (afaict) does give a degree of transparency. On the other hand, adding criteria of who/where that volume is coming from is non-nonsensical (and meaningless, imo).

That said, just looking at volume of the last 5 days, we have seen the highest levels (thus far) in the front month, not coincidentally, along with a welcome increase in volatility. Now if anyone thinks that it's day-traders and mom and dad accounts that are pushing 10's or 100's of thousands contracts daily, in some instruments totaling in the millions of contracts, well, perhaps reading books on how markets work rather than specific trading techniques is better suited at this time.

No disrespect man, but how did we get to all this extra STuff? ,.I was just responding to Tyro's post #350? and you really don't need to respond to this, because I'm done here.

 

[tyro]

That transparency is not available on my platform, quantity yes but by who

I was just responding to Tyro's post #350

We simply are not communicating well with one another because we each are viewing the market with a different frame. I'm no market expert and I'm learning more each day. I have found observing price action within the frame of institutions being the primary mover of the market has, to a small degree, helped me make sense of that price action. I imagine that some entirely different frame works for you.

 

[tyro]

Did you trade today @volpri?