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Trusting your signals


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  #31 (permalink)
 Rudy52 
Des Moines, Iowa
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Kinetick / IB
Trading: spy
Posts: 27 since Feb 2011
Thanks Given: 22
Thanks Received: 16

Have never looked at nor learned anything about market profile. Do you recommend that every trader so so? What is it (in a nutshell) that market profile adds? Thanks.


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  #32 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
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Trading: Stocks & Futures
Frequency: Every few days
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trendisyourfriend View Post
I remember having heard Dalton mention in one of his webinar to place a pin on a market profile chart for each trade you took at the end of a day session. He then mentionned by the location of your trades on a profile chart i can tell if you traded with an edge or not. According to Dalton trades initiated in the fat part of a profile place you in an unfavorable starting position diminishing your edge.

I agree. My point was simply that there is more than one aspect of trading, yet for most they only see one: entries.

Mike




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  #33 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,669 since Jun 2009
Thanks Given: 33,669
Thanks Received: 102,557



Rudedog60 View Post
Have never looked at nor learned anything about market profile. Do you recommend that every trader so so? What is it (in a nutshell) that market profile adds? Thanks.



Mike




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  #34 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,669 since Jun 2009
Thanks Given: 33,669
Thanks Received: 102,557

Rudedog, start a new journal and post to it every day, or multiple times a day. This is the best way to improve yourself and hold yourself accountable.

Mike




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  #35 (permalink)
 Rudy52 
Des Moines, Iowa
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Kinetick / IB
Trading: spy
Posts: 27 since Feb 2011
Thanks Given: 22
Thanks Received: 16


Big Mike View Post
Rudedog, start a new journal and post to it every day, or multiple times a day. This is the best way to improve yourself and hold yourself accountable.

Mike

I will do that. Have been keeping a journal and making an entry for each and every trade I have made this year. Always was hit and miss before. And I had a blog where I posted pics of my trades, but it was basically private as no could find their way there. Perhaps starting a new journal here would be the best idea.

Question though - can I change my nick name? "Rudedog" doesn't really fit me. Never did. Rudy, maybe, but not Rudedog.


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  #36 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,669 since Jun 2009
Thanks Given: 33,669
Thanks Received: 102,557

Send me a PM.

Mike




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  #37 (permalink)
 
David D's Avatar
 David D 
Waco Texas USA
 
Experience: Beginner
Platform: Ninjatrader
Trading: oil
Posts: 1 since Mar 2012
Thanks Given: 8
Thanks Received: 0


Rudedog60 View Post


Those are my signals.

Looks great Rudedog60. You're just at that human step, Trust, that builds Confidence, that seems so difficult to pass.


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