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- RickM replied 35 hr ago
Backtest your strategy and your'e find the right answer there. Generally for me, I just want top hit the Break Even tab as soon as possible so it becomes a stressless trade. But as a Stop is needed, go by the ATR of the market / time frame you trade ...
- RickM replied May 23, 2024
Hi BW Well there will be plenty more big ego’s to argue with next year so see you then. Normal Algo’s will still have no chance in the modern market because HFT’s are coded to attack stacked liquidity. That means if there is more selling orders on ...
- RickM replied May 23, 2024
Hi binnie The Cumulative Delta works 100% when there are many market participants trading simultaneously. This allows for the crowd to start trading Bullish or Bearish and we see a nice trend in the PA and the same trend in the Cumulative Delta ...
- RickM replied May 21, 2024
Hi Rocky Missed a nice trade 1 hour ago so just had to settle with this trade for about 28 Ticks. This is a trade with most of the volume information missing but kept the POC visible as a trend indicator. Again the Cumulative Indicator kept me in ...
- RickM replied May 21, 2024
Don't get me started on Algo's The fact is 99% of Algo traders spend on average 500 hours to design, back-test, forward test and then maintain just one single Algorithm that makes them ...
- RickM replied May 20, 2024
Hi Rocky These are the conditions I prey for and have my scanning software searching the Markets for this very situation. Renko bars or time based bars, the best trades come soon after inactivity occurs. Its my secret sauce setup I never display on ...
- RickM replied May 19, 2024
That’s a chart from Crucial Point, a thread 14 years ago maybe the best work seen on Forex Factory. The point of the post is the markets is a Sine wave where the market flips on an equilibrium. Easy money can be made by just being long on one side ...
- RickM replied May 19, 2024
Just like his first thread, it will sit here as a great source of reference for aspiring orderflow traders into the future. For years, I get private messages from traders asking me for reading material on Order Flow trading - now I have somewhere to ...
- RickM replied May 19, 2024
Hi Pipcruiser There are many trading platforms that allow Footprint Charts to be traded successfully, but a cheap way to get "the feel" of trading with volume data is probably Clusterdelta.com. Here you can download CME data directly onto MT4 or MT5 ...
- RickM replied May 19, 2024
Hi Makingmoves You have put some great work into your posts above and I greatly enjoyed reading these posts. The feature I like about Renko Footprint charts is they do indeed seem to filter out some of the noise we see on a time- based candle stick ...
- RickM replied May 18, 2024
image North or South, your choice
- RickM replied May 18, 2024
Hey BW You know even though most of my posts on FF in the last few years have been Futures trading related, I still very quietly trade a simple North / South trend trading strategy from one I used to talk about a few years back. It’s using the ...
- RickM replied May 18, 2024
Hi BW Hope you are well. Better to trade Long inside the Northern hemisphere or Short while visiting the Southern hemisphere isn’t is. Tape reading here gives more accurate results because the data here is less manipulated. I wonder if only you and ...
- RickM replied May 17, 2024
Hi Rocky I did trade near the close as usual and after some crappy PA moves, some nice signals appeared. WARNING VOLUME SHIT Footprint charts can be made to look like normal candle chart WHILST still containing valuable information visually. Traders ...
- RickM replied May 16, 2024
Hi MM Fantastic post and one of the best I have read all year. Perhaps we should move this Volume talk off this thread or we will just swamp Rocky's thread. Just one comment about Imbalance. A Bid / Ask Imbalance of 20-25% on a DOM may create an 200 ...
- RickM replied May 16, 2024
Hi driven 'You are Correct, you need very little tools to trade successfully. But what you need most of all is a trader's mindset to stay in a trade as long as possible until you know you are wrong. Therefore - why did you exit that trade above, YOU ...
- RickM replied May 16, 2024
Hi FatPatfx My Opinion ....... Bid / Ask Imbalance allows us to know whether the order book contains more Selling limit orders or Buying Limit orders. If you trade US500 Futures (ES), this Imbalance information is a real trading edging because 65% ...
- RickM replied May 15, 2024
Hi Rocky During the Period you were trading, the average volume per Renko 5 bar was around 2800 - which during the New York session doesn't seem to provide nice trends. On the next trend after your screen shot, volume moved up to 6000 per Renko 5 ...
- RickM replied May 15, 2024
Hi Rocky Looks like you took a few nice trades. I am presently holidaying in Hawaii and if you think I am waiting up at 2am in the morning to trade the open, that's not going to happen lol. However I did crawl out of bed at 6.30am to try and catch ...
- RickM replied May 11, 2024
Hi Rocky The risk of using too many tools within your system does perhaps risk destroying your simple easy to use trending strategy. Renko / HE bars may often just enough to be honest but us traders like to add all this fancy stuff to “”feel safer” ...