Tuesday, 8 December 2009

Ten Point Buck

The second trade of the day was a Ten Point Buck. Although I've heard and used the expression for a few years, I had to ask my American wife where it came from in case it was nasty and didn't belong here. It's a hunting expression and describes a big male deer with 10 points on his antlers. So the second trade made 10 handles (points) per contract.

We scaled out of the first 1/3 as usual and then got a smell of a possible trend day. If you look at yesterdays' profile and the day before, the clues were there. I didn't have the room to put both the 24 hour and the RTH MP charts up but have a look at both if you can. Yesterday was a very tight day until the later part of the day. I split the day into 2 profiles and the breakdown with value accepted lower was a good clue. Then today the smoothed CVD turned to sell and didn't look like turning so we held on to the 2/3 until it turned.



  1. nice trade!... been following your blog for a little while now, just wanted to say thanks.
    Kiki is lucky to have someone like you to teach her. One question; I see you traded ES on this trade, during European hours, any particular reason for that?

  2. Sorry Boss,

    I did my best not to ask a question today. (I think it is already tonight over there anyway. Well actually it’s 5:45 GMT) :oP

    I noticed that you do not have volume on your MD MP charts. I recall you use volume for level consideration. Is it something that you still use for your daily prep? (Speaking vertical).



  3. jeroen, I like to trade both markets. ES volume in the euro timezone has increased so it's been quite tradeable. And I like the Market Profiles - there was more information.
    Rino, glad you haven't run out of questions. I have never used raw volume as I can't get anything out of it. I must not have been clear if you thought differently. I use VB and the smoothed CVD. My MultiCharts setup gave the same info as I now have in MD. The VB gives the bar by bar info and the smoothed CVD shows what is happening on a nett basis as the day unfolds. Today was a good example.

  4. Sorry,

    You have always been very clear. Please forgive me for not being more specific.

    “I also use a Market Profile chart – standard chart with letters representing each TPO but VOLUME determining the POC for support and resistance.”


    This is what I meant.

    Thanks. (I punched myself in the eye for not being clear)


  5. 2 things:

    1)Not sure if it helps your specific methods, but you can add a hidden market profile on your primary chart and have your key levels and the developing levels show up quite easily as lines on the chart.

    2)Would you mind posting the screenshot of the CCI setup? I'm very proficient with market delta but have never fiddled with CCI.

    Reason I ask is I have my own setups and triggers but always looking to improve. Would like to run your chart alongside mine own (I use a volume chart) on replay and see where they compliment each other.

  6. Rino, I look at both TPO and volume POC as often they both may work but use TPO for VA as there does not seem to be much of a difference between the volume VA and the TPO. If that changes, I'd go with the volume.

    Brian, do you mean the VA indicator? Issue for me in ES is I use a 24 hour chart and want to see RTH VA plus different VAs if I split the profiles

    CCI is a big topic. I'll try and cover it in bits in the blog and webinar.

  7. Hello, long time trader. However new to market profile. I am reading about MP with help of CBOT resources.

    Which charting "package" brings me the charts you use so I can begin to understand what you are teaching- I am a Interactive Brokers client. I want to keep frivolous "monthly" fee's to minimum!

    Thank you!

  8. Mark, have a read of Mind Over Markets by Jum Dalton. It will explain things about trading where the CBOT manual is more a description of how the charts are constructed.

    The required datafeed depends on your charting package and what you are charting. IB data is snapshot data but I does provide the volume info I think. Check with support@marketdelta.com if you are going to trial their software. The issue about charting packages is that I use the volume at bid and ask - in MD its Volume Breakdown - and you need to find a package that either has it or you can program. The volume information is key to reading order flow. You also need the ability to chart the MP. I'll spend some time on this in the webinar as its an issue for many.