Hi from Kiki,
I am posting the third guest blogger tonight for EL as he is still training. Thanks again, Carlos.
Hi Tom,
I thought I would take a few minutes to share with you the benefit I feel that I am already receiving from your training program. I know that I had a pretty good understanding of Market Profile (MP) and Auction Market Theory (AMT), but was always failing to execute properly against that framework. I think part of the problem was that my initial trading education consisted primarily of trading simple MACD divergences and/or blindly fading established MP pivots, both of which are essentially trying to pick a top or a bottom. I think your concepts of 'where are you on the playing field of price', and what is considered above or below value of the current price swing, will really help me on the execution front. There are many trades I made just this past week that would of performed much better had I applied your concepts prior to entry.
I have used the Footprint bid vs ask chart for quite a while, and although I do appreciate the information it gives you, I think your framework for understanding price action bridges the gap for me, between the detail provided by that tool, and the higher level concepts provided by MP/AMT. I can also appreciate the simplicity of focusing on just price and volume, and what they are telling you, vs trying to predict what will happen using 15 different sector and market internal charts to grab 2 points in the ES. I look forward to stripping away some of the extraneous information I have built up over the years and focusing solely on what is really happening in front of me with respect to price action. In many ways I expect this will be quite liberating.
Once again, thank you for this wonderful opportunity to redesign and refocus my trading efforts, and I look forward to taking my performance to a new level with your assistance.
Hi Tom,
I thought I would take a few minutes to share with you the benefit I feel that I am already receiving from your training program. I know that I had a pretty good understanding of Market Profile (MP) and Auction Market Theory (AMT), but was always failing to execute properly against that framework. I think part of the problem was that my initial trading education consisted primarily of trading simple MACD divergences and/or blindly fading established MP pivots, both of which are essentially trying to pick a top or a bottom. I think your concepts of 'where are you on the playing field of price', and what is considered above or below value of the current price swing, will really help me on the execution front. There are many trades I made just this past week that would of performed much better had I applied your concepts prior to entry.
I have used the Footprint bid vs ask chart for quite a while, and although I do appreciate the information it gives you, I think your framework for understanding price action bridges the gap for me, between the detail provided by that tool, and the higher level concepts provided by MP/AMT. I can also appreciate the simplicity of focusing on just price and volume, and what they are telling you, vs trying to predict what will happen using 15 different sector and market internal charts to grab 2 points in the ES. I look forward to stripping away some of the extraneous information I have built up over the years and focusing solely on what is really happening in front of me with respect to price action. In many ways I expect this will be quite liberating.
Once again, thank you for this wonderful opportunity to redesign and refocus my trading efforts, and I look forward to taking my performance to a new level with your assistance.
Nice post Carlos. I couldn't agree more. Tom's 1 chart 1 timeframe kiss principle eliminates the "analysis by paralysis". Tom has stated before that getting 2 ES points 6 times per day is a lot easier than finding 2 or 3 5point trades. Recently, the ES has been offering 10 plus 2point trades per day during RTH for those willing to take the entries.
ReplyDeleteI wish you and all the trainees good trading.