What is trading style, method etc.? It is a way of trading that you find successful... it wouldn't be a method if it is unsuccessful. My main trading method is trading Auction Market Theory, which is the art of finding value (shown by bar and market profile charts) in the markets, and looking for when the market trades outside of value to make a trade. Check out my youtube video I made on trading Auction Market Theory (AMT). The last few months, I've tried out some methods for stock swing trading, and I found success, however I noticed through trading AMT I had a bigger percentage gain on my account. Trading is all about expirementing on what is best for the trading account. AMT trading makes the most sense to me (revolves around reward to risk) and has been best for my trading account. Therefore I will now use this blog for AMT trading and experiments such as the one I just performed.
My Youtube Video: http://www.youtube.com/watch?v=AQNYjG5D2T4
ES Trade Example Using AMT:
When you talk about a 15 point potential return, is this the target that you set? I see from the profile that price never reached this level after it was initially rejected early on that day, so my second question is whether this is a position you would hold overnight. If it is just a provisional target what would you be looking for in order to take profit? Just to say was directed from your youtube postings to this blog and am very impressed with your clear explanations with regard to MP, best of luck!
ReplyDeleteWhen I said didn't reach this price I was referring to the marked 15 point reward. If you were unsure what I meant.
ReplyDeleteHi Toaksie,
ReplyDeleteYes, I do consider the 15 point potential return as my target as it is the only nearest extreme, that also satisfies my reward to risk ratio. Normally, if I was trading a one lot my first target would be the High Volume Node (1210 in this case), however if it was not above a 3:1 reward to risk (as in this case) I would would have to set my target at the next area (the lower extreme of the balance are), which is the 15 point reward in the above example. Most of my trades I do hold overnight, in other words, if I take the trade in the morning and by 4:00 I am not filled on my stop or target, I will hold until one gets hit. So simply put, I am in the trade until something happens (target or stop getting hit). On the other hand, if there is reason to believe this trade will not work (news event risk, value building higher) I will immediately get out for a small profit/loss.
Thanks for the question and the compliments! More youtube videos will come!
Julian