Years ago, in the United States, there was an add for Wendys, the hamburger fast food place. The idea was if there was no beef then there was no hamburger. I often think of this ad when I'm trading.
Its critical to know what the trigger for a trade is when you are building a trading plan. The go or no-go! No trigger, no trade. The trigger is what gets you into a trade. The trigger, from my point of view, must be context sensitive. A breakout upwards, at, say, the low of the day may have a different significance to a breakout at the high of the day. I might buy the first but sell the second. What I am advocating is to create the trigger in a trading plan but also describe the context in which it is both valid and invalid.
As you might see in the chart above, I have an app that alows me to trade hybrid - semi-automatically. I wait for the context to be right and then arm the app to send out the market order when the trigger conditions have been met. My trigger conditions are order flow related while the context is a lot of other things.the line in the middle of the chart is the average of the mean price and is the centre of value at that time.
So will there be a new course or software in the future. These teasers have been going on for years now. Appreciate the posts but these are far different from the original posts in the sense that with the original posts users could deconstruct what were doing and come up with a trading plan. For those that wanted more such as myself you had a course available which was excellent. Now there is no course and no way to deconstruct what your doing.
ReplyDeleteThanks for the comment John. That's what I was waiting for really, to see if there is any interest in getting into all the latest technology that allows us to really see the order flow. With what we have available in software now, we are in even a stronger position to trade against paper than when I was in the pit. I do understand that most people have not been able to get to grips with order flow. You get a Footprint type chat or a Bookmap type chart and, in hindsight, its not difficult to see what you should have done. Its quite another thing to trade what you see at the right edge of the chart. Additionally, there's a lot of people offering a lot of bad advice on the web and I have been loath to be a voice in the forest.
ReplyDeleteMy goal in what I have shown on thw blog was not to rease but to show people what can be achieved with the technology available.
ReplyDeleteHowever, I have been working on evolving what I do with orderflow since 2014 and I know I have something that will resolve many people's quest for CP. Having said that, I don't make my living being a teacher and I don't intend to give away what I have spent years developing. I would be happy to do one more course but only if there was enough demand.