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I don't have much experience as a Trader, but I was part of an online boot camp and later on, member of TRg (Trading Research Group) .We used Sierra Chart's Footprint Charts. When combined with Delta Divergences,VolumeProfile etc. When used together, the Price levels within each footprint do reveal levels of Unfinished Business(that I could easily read after a while),Zero Prints, Imbalances(Buy/Sell) which used to give a pretty concise picture of where the market participants where at any given point of time. Watching the DOM and the tape is equally necessary, sadly which I could not master.
Lee Harris, one of the co-founders with Jeff MAyem runs emojitradingdotcom,on which he offers some good tools for this (some are even free).He's got a YouTube channel which you can search and watch his videos on footies.
TRG runs boot camps and some free webinars one can attend.
So, best of luck !!
Disclaimer: I do not get paid for any of this.
Hi
You could take a look at Axia Futures Youtube channel as an example
They have some good material on footprint trading. They also have some paid material on their homepage.
I can recommend talking to Mike from OrderFlows.com
I like his OFT 3.0 the best from others I've tried mainly because all 17 footprint tools (I don't use 5 or 6 of them) can be added to the chart.
Some other software I've seen, you're on your own to see a lot of it. See the pic "17_FootPrint_Tools".
I've included 3 pics showing the list of 56 webinars he made. The vast majority are 45 minutes to an hour long.
A few are an hour and a half, a few are half an hour. See pics "1st_Set_webinars", "2nd_Set_webinars", "3rd_Set_webinars".
I took 4 other screenshots and will upload them in a separate post.
I'll apologize for my color scheme as pretty much everybody seems to hate it but it works for me.
Here are the other pics I took. Mike also released in in depth course focused on Delta.
See the pic "Delta_Course". It's helped me a LOT.
I'm also a BIG fan of his POC Couse. See the pic 'POC_Course".
I also included the best way I've found to use footprint charts to detect a new trend earlier.
It's not fancy but it helps me out tremendously. To be clear, I only use non-time based bars. Range and Lizard Trader Renko. My favorite is P&F but my footprint software won't plot on P&F.
See the 2 pics "FootPrint_Range" & "FootPrint_Trend". They both show 5 tick Range bars and there are 15 of them in each image.
You'll notice that in the "FootPrint_Range" pic, the bars look considerably taller. In the "FootPrint_Trend" pic they are much shorter.
It's very easy to see on the monitor when the apparent size of the Range bars change from 'taller' to 'shorter'.
The opposite is also true. When a trend comes to an end, it's easy to see the bars get 'taller' as price starts moving sideways.
Using multiple monitors, I readily see the change from the corner of my eye.
Going back through the day it's easy to click forward one bar at a time and see the change. Like I said, it's easy to spot live too.
It's a quick, easy and simple way to see a trend early that works great for me. I don't know it's effectiveness on other bar types.
Determining Trend or Range bound prices is the biggest problem I have.
2nd biggest is being consistent on a daily basis but that's another matter.
You ask if I'm profitable? I still work a full time job so not that profitable. Trading is part time for me presently.
I'm looking to go full time when I can, yes.
I hope I've given you something useful to help out. If you don't like what Mike is doing over there, sorry to waste your time.
Good luck and good trading, JM
@debleded:
I know this is not what you asked for, but please allow me a word of advice.
Judging by above quote it seems to me that you might not have given yourself enough time to get good at the PATs approach and then went on to find the next thing (the typical eternal search for the "holy grail").
I've been there, too. After purchasing the PATs manual many years ago, I soon went on (thinking that this is just too easy and I need other stuff to "fine-tune" my entries) and attended a very comprehensive course done by a Scottish bank trader/quant.
It was teaching by the fire hose (all the stuff you mentioned was covered, amongst a plethora of other things).
The result: I ended up staring at six 21'' screens with a ton of charts (including a footprint chart), which led to complete analysis-paralysis and me missing good trades (while still checking one more thing on another chart to confirm the trade) or being lured into bad ones, overall just losing money.
A few months back I (finally!) came to the conclusion that it is much better to keep things simple, so I went back to PATs (I also became a premium member) and decided to give myself time to get good at it (not there, yet).
Admittedly, I still have a few other things I look at on my screens, but I'm trying to reduce it step by step.
Maybe my story will prevent you from making the same mistakes I did.
Now, if PATs isn't right for you, fair enough. But what I wanted to say is that I highly recommend trying to adhere to the KISS principle instead of overcomplicating things, eventually leading to analysis-paralysis. And to give yourself enough time to learn an approach, before jumping to the next one.
you need to spend Hrs/days/months to see what is taking place in real time. When i say screen time, it means focusing on order flow, not doing other stuff such as programming. Stare at order flow window 5-6 hrs for 1 year, you will get your answer.
There are lot of plays within order flow as well - liquidity grab/stop run, how big orders gets accumulated, how Breakout looks like, how reversal looks like, can you read manipulation of passive sellers and buyers etc. Journal them and show each and everyday for at least a year.
You will never talk about any indicator or bot post that experience.
Exactly. You do not see the pattern. We all hope the computer will tell us, hey there is the pattern.
Let me ask this, with all their PhD's and vast computer systems why has Renaissance not been able to get a second idea to work? Honestly, ask yourself if you are smarter than those guys? Does your PC crunch more data than their warehouses filled with servers?
How about the infamous Citadel. If they could come up with a free edge why would they be paying most of the retail brokerages for orders?
My obvious point is at our level we need a different way. You have found them. The real issue is they are not easy. Ibdabas nailed it. You have to program your little grey cells.
One source that has not been mentioned is a popular lecturer here at Futures I.O., Futures Trader 71. Go watch some of his u-tube. He combines order flow, footprint charts and volume profile. Live every morning a half hour before the New York open. He has been making money by looking at a close to naked screen for years and has taught many others to do the same.
Finally I do not agree with some of the points made in this thread.
First, "Mack" has said repeatedly that nobody has been able to do an effective price action trading program. Certainly with Al Brooks detailed set ups you would think if it could be done it would be.
Second, the idea that context is impossible to judge, especially from the past. That implies that it can be judged from the future. Sign me up for that app! Seriously people stop over thinking this. If you can not glance at a chart and figure out if it is trending or ranging then you need more screen time.
Good catch -- you are right. I got my wires crossed.
Brandon with Axia presents a quite a bit of info here and I have taken his course as well: Footprint Trading Workshop (Part 1 of 3) - How To Setup, Interpret & Comprehend | Axia Futures
Part 2 of 3 is on YouTube as well and he has other videos on footprint. I didn't check, but I think he has done videos with futures.io.
Peter Davies works pretty closely with Axia and there are Elite discounts for Peter's Jigsaw training and platform, so you might want to look into that avenue if you are interested in some discounted route.
Good discussion going on here. I too am dabbling in Footprint and came across two resources I thought I'd share. I have no affiliation at all, just trying to learn like everyone else.
I don't own their software nor have I purchased any of the NOBS content, but I've heard some pretty good reviews about NOBS. I use mzpack.pro for my footprint charts since I bought it a year or so ago and am pretty happy with it so far. As far as actually using the footprint charts, I use a 20 range on MNQ and look for market delta imbalances to give me a "heads up" that the market is hitting an area of interest and have my charts set up to match Emma's (fkyesss.com). I'd like to buy the Axia course, but I just can't afford it. Anyway, hope that helps!
