I see. Are you saying you are a professional, running your own fund, not selling courses or algos? Good to know. Sadly in the day trading business success stories are few and far between. Any helps you successful professionals can offer to us retails are welcome. I am an amateur retail options trader. Now, try to learn a new trick - day trading stocks.
I am not a seasoned day trader, so I probably make a fool of myself saying this: The two bar reversal and second entry looked familiar. Reminded me of @padutrader and his Brooks posts. Perhaps I need his algo because otherwise, when I tried in real time, the majority of two bar reversals don't really reverse and very few second entries are real second entries.
Hello Ironchef I don't want to continue to post here and so will start my own thread To be brief. The gentleman who suggested that my charts look "exactly" like so many others is simply ignorant. First, the tools are somewhat different. I use Volume Profile, NOT Market Profile, as they are different. Market Profile focuses on the timing of a move, whereas Volume Profile is (as the name implies) focused on Volume Second, I use VWAP, as do many institutions, however institutions use this as a metric for trader performance. I use it in combination with Volume Profile to obtain a "statistical bias". I use it to obtain the approximate odds that a setup is likely to work. In the previous post, you said that when you tried to trade 2 bar reversals in real time, and they did not work (for you). That is probably because you did not know HOW to obtain the additional data necessary to decide whether to enter or stand aside. When I said I do things differently I meant it. Am I going to outline all of that for you? Certainly not. What I will say is that if you take the time to get an education (I mentioned the need to learn first year statistics and probability) then you might eventually get there. If I can do it, anyone willing to do the work can also get there. Finally, it would be a pleasant change if folks would pay attention to what is actually posted I did not say I ran a fund. I did say that I worked FOR a fund.
My apology. It wasn't clear if it was your fund or you worked for a fund. I wanted to give you the benefit of the doubt. Either way you are a professional.
Steven, You said that your approach and charts are not even close to what retail traders are doing. Volume profile, VWAP and statistical analysis is extremely common these days. The first two are standard features in most sophisticated software packages and your posted charts seems to come from TradingView. Based on what you've shared so far, there's nothing to suggest either from your comments or your charts that your approach is vastly different from what other retail traders do. To be clear, that's not to say that there's not value in your approach or what you teach. I never said anything about that. I just fail to see how it's not even close to a retail approach when that's just how it looks like from my point of view.
Yes, following @volpri will prove to anyone that while the markets appear chaotic and are "a random walk" the Walk has distinct and interpenetrate patterns which are easily identified and produce consistent profits.