Yes indeed....we had over a 3'rd deviation move today....this is price action with great rotations to take advantage of....I LOVE this type of price action.
OK...just took fills at 715.50 which was good enough....next targets at 712.50 and then at 710.00 and next at 707.50. With fills at 707.50 I will have the last 50% of 720.50 entries held for any additional downside moves. BTW, if you remember 721's to 724's was the next significant delta zone I mentioned previously (zone of resting HELD short inventory) ......I just SOLD the late day price run right up to that level. Now that was a textbook set up imo.....perfect area to sell with conviction!
Been following this very interesting thread for some time... I've watched volume delta along with volume profile charts for a while, and this thread has been a great confirmation for me and what I was seeing/looking for. But I had a couple of question I hope AMT4SWA or others could answer. Do you track cumulative delta continuously? Say, from contract rollover to rollover? That is quite a lot of tick data. I've mostly just watched intraday, but have began tracking it continuously. Also, how about volume profiles showing buy/sell/delta volume? (also continuous). Mine only show total volume without splitting it into buy/sell... but I've been looking for charting software that can do this, if it has value beyond just total volume profiles. Thanks, PD
Stock_trad3r, you are a cancer to this thread and add nothing of value except baseless opinions. Would you please contribute in some meaningful and relevant way? And if not, I will be a happy counterparty to take the short side against you as we go down to retest the 600's again.
Did you take a breakeven stop order on the 717's that you sold? (Or did you average in the short position and retain the sold cars along with opening more shorts?) Since you hit 713 as a first target, if you were stopped at BE+1, it would still be a small gain. Great trading, AMT. Stone
Yes I did scale those entries in (knowing I had that delta resistance zone at 721-724) and I took the remaining 717.00's out at 715.50 just after the futures reopened for the AH session. My objective was to make some profit off these positions but yet have an AH session cost basis right near the 721's to 724's delta NET short holders zone of resistance. This gives me resistance right at my back for the AH session which is a a "clean" situation for AH session trading holding ONLY 720.50 short entries.
I track the delta continuously myself and I do not use volume profiles for my trading. The ONLY volume I care about is volume that was transacted with a BIAS......heavy POSITIVE or NEGATIVE delta volume flow.
Nicely done! You seem to have very advanced money management techniques. You must have extraordinary discipline AMT- it's difficult for most traders to enforce a loss if prices really move against you.