Why not to use market depth

[MRC & Co]

ha ha, bergs are always institutions.

There has been a heap of them lately hey!

That IR announcement FUKCED ME! Went short and still got squeezed, angry angry angry.

This market is REALLY starting to get on my nerves!!!!!!!!

To get a decent run, you need a huge stop and some incredible conviction!

Got my reading of the market downpat and still getting squeezed to the damn tick!!!!!!

 

[mazzatelli1000]

ha ha, bergs are always institutions.

There has been a heap of them lately hey!

That IR announcement FUKCED ME! Went short and still got squeezed, angry angry angry.

This market is REALLY starting to get on my nerves!!!!!!!!

To get a decent run, you need a huge stop and some incredible conviction!

Last few trading days are my worst in a long long time!!!!!!! Got my reading of the market downpat and still getting squeezed to the damn tick!!!!!!

Is this a snapshot of what goes on at Propex
Have you broken monitors/keyboards yet??

Would make some entertaining viewing

 

[MRC & Co]

This is a snapshot of what goes on for ANY trader who actually trades instead of hanging around forums quoting cliches!

Today was the worst day, 3 prior only small down days, but still, 4 red days in a row is not good enough!

 

[mazzatelli1000]

This is a snapshot of what goes on for ANY trader who actually trades instead of hanging around forums quoting cliches!

Today was the worst day, 3 prior only small down days, but still, 4 red days in a row is not good enough!

When I said entertaining viewing - I meant seeing people snap -- -not watching you lose money

No need for persoanl attacks

 

[Trembling Hand]

When I go through a patch of crappy trades I pull out this indicator. Or at least run it in my head if not charts. Saves lost tics when you haven't got many up your sleeve.

 

[Naked shorts]

When I go through a patch of crappy trades I pull out this indicator. Or at least run it in my head if not charts. Saves lost tics when you haven't got many up your sleeve.

Whats that called?
If you find it useful, why dont you use it all the time?

 

[Trembling Hand]

Whats that called?
If you find it useful, why dont you use it all the time?

Value Histogram I think.

And I do, in my head.:

 

[MRC & Co]

Yeh, I don't get it TH.

How is that box constructed?

 

[cuttlefish]

Looks like volume distributed over price instead of time to me - would be a very useful tool.

 

[MRC & Co]

When I said entertaining viewing - I meant seeing people snap -- -not watching you lose money

No need for persoanl attacks

That wasn't a personal attack.

I wouldn't call that a snap, just frustration at the current market.

Plenty here to take it out on personally and rip apart if I really wanted. Cliche quoteboards.

 

[Naked shorts]

How is that box constructed?

lol he used paint.

The indicator is the histogram on the side, it shows where all the action is happening.

 

[Trembling Hand]

Kinda like a VWAP. But not calculated on volume but rather at price and time.

imagine each time a candle spends time at a value it gets a 1 and the histogram builds from there. the Red bar is the value area. That orange box I put on the chart to just show the area I avoid.

as the price moves out of the value area you get action because people are getting into pain and others are getting into profit. So you get covering, defending and push/pull action.

 

[cuttlefish]

Plenty here to take it out on personally and rip apart if I really wanted. Cliche quoteboards.

Like who?

 

[julius]

Pretty sure I've seen it called 'Volume at Price'

Carry on please...:

 

[MRC & Co]

Like who?

Exactly my point, I am not making it personal.

I actually think you are a good poster Mazzatelli. I was just stating any trader knows the frustrations it causes at times. And if they don't they are lying! Some of the best, most consistent traders I know have times where they get battered for days on end.

Ah yeh, I get it TH. Just getting you out of congestion zones. Actually, funnily enough, I have been sucked in by a few of these recently, a zone I usually always avoid! The constant battle with your own self ey! Gotta love intraday trading!

Though, being sucked into them is more a problem with ones own trading. Simply having my risk tolerence maxed out and still being right, is more infuriating as it's something MUCH harder to work on.

 

[Naked shorts]

Pretty sure I've seen it called 'Volume at Price'

Please re-read the first line of TH's last post

 

[AzzaB80]

Do any of you guys use Market Profile? I'm still learning the ropes but have found it has helped my trading immensly.

Mainly for what you posted TH, staying out of balance areas (except for when you have strong bias and can get a good trade in on the edge).

 

[cuttlefish]

Exactly my point, I am not making it personal.

I actually think you are a good poster Mazzatelli. I was just stating any trader knows the frustrations it causes at times. And if they don't they are lying! Some of the best, most consistent traders I know have times where they get battered for days on end.

No worries.

Simply having my risk tolerence maxed out and still being right, is more infuriating as it's something MUCH harder to work on.

Yeah I can understand your frustration with this. It had some pretty wild swings on the way down after the announcement.

 

[mazzatelli1000]

Exactly my point, I am not making it personal.

I actually think you are a good poster Mazzatelli. I was just stating any trader knows the frustrations it causes at times. And if they don't they are lying! Some of the best, most consistent traders I know have times where they get battered for days on end.

Ah, I have misread your post - apologies

But actually, as you mention it I do sometimes post cliched stuff haha

Reason I brought it up was because I was looking at the thread with all the pictures of traders ripping their hair out and then I saw your post and just had a vision of you (even though I dont know what you look like)

Its all good --- back to this interesting thread

 

[MRC & Co]

ha ha, my reaction would look more like swearing, followed by deep silence. Pretty similar to this

Ah well, today a LOT of movement, some big buyers and sellers in there. Some nice falling off a cliff down moves, easy to trade I thought. Easiest pattern I thought was simply attacking the side which was pulling orders. If some decent sized bids started moving up, the asks would thin very quickly, if you could tag them before other guys did, you could easily scalp a few ticks at a time in a very consistent manner.

Made back all my down days plus more Such is the world of trading.