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I would like to add the following to my above question.
I've found myself moving away from caring very much about the current day's market development (a stark turnaround from the way I traded even a few months back). I now prefer to base trades off of the larger context and areas of interest that have developed over a number of days.
To my question, how much weight do you give the current day's market development? How do you differentiate the signal from the noise if basing trades on today's development? Personally I try to follow what the market is trying to do in terms of value. But I no longer put much faith in intraday levels because I consider so much of intraday action to be noise. For example I find it hard to put faith in an LVN that is busy developing today, until the day is over.
Sorry if the question is a bit vague.
Looking forward to your thoughts on this and my prior question above.
Thanks.
Diversification is the only free lunch
Can you help answer these questions from other members on NexusFi?
A) in an area of interest, where you are expecting a reversal and have planned to take the trade, the swing histogram (for ES) makes a 3 point rotation that coincides with the level of interest - so 1 more reason to take the trade. Perfect.
B) Same as before, but the swing histogram is not turning as it reaches the level of interest and has travelled just 1 point from the most recent swing. How much of a weighting in % would you give on the swing histogram in this case?
Am I right in thinking that statistically option A) is very rare and B) is the most common case?
Most of you know I am in the process of moving to Ecuador (first of March). I have a lot going on. However, I also want to honor the prior commitments of having regular "AMA" sessions with FT71 on the site.
So here is the thing. I need you to vote through the use of the "Thanks" button. If you really, really want one AMA between now and March before I move, then Thank this post. If I get more than 100 thanks in the next few days then I'll schedule it with FT71.
If not, the AMA's will resume after I get settled a bit in Ecuador - sometime towards the end of March.
I appreciate the gesture. I really think that we should wait until you are settled in. It does not make any sense to host another AMA until you have moved, rested and are settled in.
Best,
FT71
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
I have to confess that I haven't been able to keep up with the AMA thread for some time. I know there are a lot of unanswered questions. We have been immersed in several projects and have been helping folks from Mirus find a suitable clearing arrangement, so that has been tying us up.
In order to catch up, I have decided to create a small video with your questions and to answer them on screen rather than in writing. I will link the video to each question so you can be notified of a reply. This hasn't been done before, but I think it will work out and will be the most efficient way to do this.
Again, I'm making myself more available to you to support you in your effort to consistency. I will probably create this video over the weekend, so this is a great time to ask further questions (no repeats please).
I would like to add another question to the above if possible. (if im hogging all the questions, please feel free to just choose whichever one you think would add the most value by addressing).
If I recall correctly you draw your composite profiles covering the last major swing. That makes sense to me and is what I do, because for purely day trading purposes I don't find value in a profile dating back several years and several overlapping swings. No doubt for longer term trading this would be useful.
However at what point would you start a new composite profile. It is often not apparent that a new major swing has started until it is well underway.
Hello,
Is there someone that you recommend that I could learn from that uses the Volume Profile analyzing the Oil market?
I know that the concepts are the same for every market, I would be interested in comparing my analysis of that market with that of someone you may trust.
Now that I am starting to settle in here in Ecuador, I am going to slowly start resuming the webinars/AMA schedule.
To that end, @FuturesTrader71 will be back on futures.io (formerly BMT) on Tuesday April 1st at 12PM eastern for an AMA. I will provide the link in the next few days.
There will be a Live AMA session on Tuesday, April 1st @ 12:00 PM ET.
- Quick and casual, 30 minute cap
- No prepared presentation
- Live screen sharing
- Floor will be opened immediately to questions
- Recording uploaded to AMA thread afterwards
- Attend live to get your questions answered