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I've got the 101 lessons book by Dr. Steenbarger, looking forward to read it. Didn't do IDT yet, might consider. Too much at the table right now. I have signed for CTD.
I was considering doing both IDT and CTD for a while, planning to go through during the summer dolldrums, but I learned on Friday in TST squawk they are hiking the price on Monday. So I signed up on Saturdays starting today. Now as I checked CTD website, they indeed hiked the price from 1495 to 2995. So I locked in at the old price.
My reason to do this despite already been funded by TST, is I want to develop further. I was consistently profitable over time only with very short term momentum trading, I tried a lot of swing trading, position trading, but never was consistent or trusted any system or approach. I want to develop further, I want to trade size. Size always was a limiting factor to me.
I'm in week 1 of CTD right now. Also did IDT. IDT gives you a road map of the other variables you need to have down, entries and exits are only part of the equation.
I am still waiting on my login/information for CTD that supposedly starts today. How do you like it so far?
My main reason was to unlearn all the bad basic things I have been taught over the years by several mentors, all this indicator madness, ema spaghetti, etc. I have found a refuge in trading price action, supply/demand and order flow, but really want to expand it further onto swing trading level and beyond the day trading.
Not at home this week, so did not trade on Monday, did a bit of trading on practice yesterday. Still adjusting default stop size and filters, but starts to look much better. Taking these setups is same key level zones warrant better results as for my main setup and allow for nice rides. Also helps to reduce number of trades.
The first trade here got somehow quacked from the trade by non-exiting tick, despite having stop 4 ticks away. Had to increase as this ain't fun. Then planned a short but at some point decided to try to catch it ticking down from the range and potentially going up, it hit my stop to the tick, but the whole premise was wrong. I need to limit myself to trading with stop market orders unless fading a very key level. Then few good trades I should have held longer. Overall a slightly positive day, starts to look better. Now with the setup being fixed I need to formulate stop management strategy and finally come up with a trading plan.
Hi Xelaar,
I was following up on your recommendation to read "Order Flow Trading" and I can find it on Amazon apart from one copy for over £100 - is it so rare? It says it was published 2011. Is it an ebook?
I am currently looking at levels in the market and I can't find a description on your journal about what you use to establish your key levels. Do you mind sharing again?
You can discover what your enemy fears most by observing the means he uses to frighten you.
Hi it was never sold on Amazon, I think 1000 copies were printed only. It costs 100 bucks new I believe or bit more.
It's not something you can't live without especially if you understand order flow already, but it can help a totally new trader to grasp how order flow works, stop liquidations. There are almost no ready made strategies in there, it's just a general overview. So bite no nails about it. You can get a sense of it at the author's site Trader Education
Levels.. it's must less about levels than about reading the order flow when price is traded at the level or nearby. But you can start with basic levels - just yesterday's high a low and see what you can digest from price action when it is closing on them.
Actually lately there have been quite interesting order flow related webinars here at nexusfi.com (formerly BMT). Especially Peter Davis's, MarketDelta's and less so OFA presentations.
Actually I am aware of those seminars and they look good, but the reason why I was chasing up Daemon Goldsmith was because of an old announcement of a seminar by him on another well-known forum (not this one) that focuses on forex and part of the introductory blurb said:
So that got me interested because of the lack of volume data in forex and yet this talk about order flow. I'd love to take advantage of volume data-based order flow analysis with software like that from DionysusToast but obviously I'd have to go to 6E futures to do that and I'd lose the 1/2 ticks that I like in forex.
PS thanks for the pointer to his website - strangely I missed that one in google.
PPS Actually it seems that that quote above is actually a quote of Daemon Goldsmith - according to the user name on forexfactory.
You can discover what your enemy fears most by observing the means he uses to frighten you.