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mdubsnz
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Everything posted by mdubsnz
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Oops got my tongue tied haha. I was referring to myself previously trying to use average/mean in SSET which didn't seem to work. Your suggestion of Median worked much better! But yes as you stated, from what I remember during university stats, the Median would produce a more realistic distribution which is what we are after here. Thanks for the refresher haha
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Thanks Josh. Nope those instructions are fine I could get the average volume of X periods easily enough, I just couldn't work out the best way to compare that with todays volume on the same chart. Utilising the V# makes sense however. Edit/ Actually using the Mean probably works out best (I was using the basic HomeWork definitions that Chad created a while back, but this works better in this application actually).
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Josh, would you mind posting the definition for your volume reference chart (assuming is not proprietary in nature etc.). Would like to utilise it for the other markets I trade. Couldn't work out how to generate one correctly my self :doh:. Cheers.
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Steve, when you say most of it long from the overnight, are you meaning those whom positioned themselves long during yesterdays (and/or mondays) RTH as opposed to professionals who initiated new positions during the overnight session? or both in reality? Just last nights move higher was pretty thin compared to the amount of volume we saw into todays close.
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I'm still hanging in there by a whisker. Still have the DVAL, an EMA aswell as GLOBEX resistance for me to lean on as potential support. Don't really like what I'm seeing tho. Delta got smacked. edit/ ok I'm flat. some decent unloading there. Will re-look at things during globex.
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Assuming nobody unloads a boat going into the closing auction I think I will be placed ok going into the GLOBEX session to let her ride for a retest of the highs if one is to occur. Market internals are all off their highs however and facing some continued pressure so :/ Assuming Asia and Europe don't have any major negative news I would presume the VPOC will hold and price will move away higher at some stage leading into tomorrows open. Maybe they run it up into NFP or sell it off from here based on the trend of reports this week to be under consensus. Time will tell.
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Nice. I was a little too ambitious with my LMT placement so missed the IBH entry as was really anticipating the VPOC test. Am now waiting in line for a down tick as really don't want to pay up if I don't have too :p edit/ok got my fill, now it may carry on as it was ^_^
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Well I got shaken out on that market down tick. Quite a violent TICK down as somebody hit the market. Lowest reading of the day and open PnL risk was too high for me to hold on till 1329 region. Am watching to see if we touch VPOC/VWAP or even IBH as you stated Roztom, for a lower risk entry going into the close/globex. edit/ There was definitely a lack of volume built around 1323.50-1324.00 on the daily VP so it makes sense that it may want to re-test that region.
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Thanks, found it. 'Profile Drawing Tool'. Guess I should use my tool bars more often than just hiding them
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Question: How do I create a custom VP? When I select custom under time profile I see no way to select a date range or enter in any criteria, nor can I figure out how to select a custom range via the chart. This is in market delta and I can't find any info via MD support under the profile indicator. Thanks
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My daily VPOC still shows 22.50 haha. Anyhow next stop to test Jan highs? I don't have any other reference points on any VP/Chart so...
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Definitely some interesting movements on the TICK up here. Tug-o-war battle. Will be interesting to see which direction wins out. Either way, a rather large amount of players are going to be caught on the wrong side with the Delta swinging rapidly in either direction.
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Looking constructive that, that may have been the LOD. NQ seems to be making small bursts towards even/positive for the day, TICK making higher lows, A/D ratio looking better and Delta getting worked off at these levels, slowly but surely. If we can clear the IBL and build some volume in that area I think we are ok (for those long from LOD area).
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Yup I don't really see much until mid to low 90's when it breaks. Am looking for a pop back up to the IBL/1306 region to initiate a short if order flow is supportive of it. Am closely watching the NQ to see if it goes positive. Has generally been a good leader over the past few months.
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Nice little exit at yesterdays VPOC at 1302.50 for those short..
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Try this site Josh mam.econoday.com
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I'm also in at 05.25 for test of yesterdays close as partial target and then look to sell the upper Keltner around 13/14 which happens to be yesterdays afternoon high as well as the beginning of an area of supply. Out below LOD. Seems to be a lack of conviction either way. Will most likely have to wait till after FOMC to see any decent directional move.
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Hi Lastninja, It seems you've picked up some of the 'tricks of the trade' per say already which is great. The leaning into a large bid/offer to encourage selling/buying is a common tactic that is generally good for a few ticks depending on the instrument you're trading. I'm by no means a pro at reading the tape, however did spend a good part of last year learning to trade off it while I was trading prop. It always helps when you can learn from those competent in the art as they help to reinforce ideas and point out where your decision process is right or wrong. If you would like to possibly save your self some time/pick up on in identifying some more common patterns, I would look up an e-book and video called 'NO BS DAY TRADING'. By no means is this a bible to reading the tape, but it does offer some good tips and common tricks that were used in the treasury markets a few years back by large prop firms and I assume (and can still identify them from time to time) in todays markets across a range of instruments. Some people here like the e-book, others don't, but I thought it was a good read and the video helped to point out the ideas he discusses which again helped quicken up the learning process and improve my decision making process. Tape reading takes a lot of screen time to perfect. I like how your taking notes as your watching/on replay. This is exactly the kind of mindset needed to perfect the art. You mentioned that you are currently unsure about your potential final time frame as a trader. Regardless of your end time frame I still believe being able to read the tape/order flow is a skill that as a trade you should spend some time developing. I no longer trade ticks per say as it wasn't the best fit for my personality. However I still use order flow to pick my entries and exits on even tho my time frame can be days. Keep at it and all the best.
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Josh here are a few free sites with earnings dates US Earnings: Company Earnings Calendar - Yahoo! Finance Free Stock Screener - screen for earnings via day/week/month etc *Note finviz can be rather inaccurate at times so best bet is yahoo. Earnings Calendars - MarketWatch Earnings Calendar - 2012 Economic Events Calendar - TheStreet If you want to pay for something there is always briefing.com or theflyonethewall.com however Yahoo always did the trick for me.
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Definitely not the easiest of days. That 10:45 reversal with a push to new highs was nasty for anyone trying to stick with the Globex trend, my self included. Tuesday will possibly be interesting in seeing they downgraded a few more countries than the rumors earlier in the day were citing. Am I the only one who thinks today exhibited some decent strength on the back of the 'priced into the market downgrades'? Feels like we test 1300 again in the near future as opposed to a probe lower?