It never fails, as soon as I mentioned the low volume, 10 minutes later thing took off. Easy day, lotsa points available. I've been concentrating on getting dom traverses - sim trading. My thoughts are that once I become ho-hum about these entries, and am consistently correct/profitable, then I can move to live. Once that becomes ho-hum, I can move to reversing, and.... SCT !!
The general idea is correct. We can push a bit further. As a profitable trader, our eyes are sensitive to signals others would miss. I have assembled some DOM images, as an exercise, we can tie them to each point in time where that might happen? <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1631686"> p.s. I don't have all the answers. Maybe you can share your insights on why such a phenomenon is happening?
I rely on the static and dynamic close of a bar to give information as to where price may be going. Paying attention to the static closes of past few bars, and looking at the dynamic closing of the current bar, reveals much of what is needed to know. The dynamic close of the current bar, is the tic chart seen at the bar. The difference is the tick chart leaves behind a footprint trail, as to how many time price has hit a certain level, (showing how it is reacting to resistance or support)and that footprint trail is not seen in the bar. Only the current close of the bar is seen. Although, watching the close of a bar closely , you can see how it is reacting to s/r., but the memory of where the dynamic close of a bar has been, is recorded on the tick chart.
Looks like the previous DOM pictures did not get loaded properly. Here they are again. What significant meanings do you see from these DOM images? <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1632226">
This picture reminds of a recent question submitted by bm. For Jack's discussion of it go here. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1632353>
I attached several charts of Grob109 quote that CNMS2 referenced about being a beginner. The charts show places on the chart where: 1) 4 points per 30 minutes ( upper chart ) Calculation Slope = AbsoluteValue( HighestHi of last 6 5 minute bars - LowestLo of last 6 5 minute bars ) / 30 minutes If Slope > 4/30 ( 4/30 = .133 ) Then color HLOC bar black else yellow 2) 10k Volume Minimum Calculation IF 5 period Moving Average of 5 minute bar > 10,000 then volume = blue else volume = yellow Where the price chart is black and the volume is blue are regions in the chart that beginners can trade. This "trade filter" would of filtered out several of my trades recently.