Price & Volume 6971

Is there anyone out there who successfully has a career trading just on price and volume without indicators?

Thanks for the responses.

-Nic

I day trade crude oil futures full time. I do not even look at price or volume let alone indicators. All I need enough VOLATILITY and LIQUIDITY.

Price has no meaning. On the other hand value has. There is a difference between price and Value.

For me, the most important thing is LEVELS. Levels , which are deemed important by BIG MONEY. Once a level is identified, the we need Volume to move the price.

I lost money 2 years till i got away from everything and read mark Fisher book " The logical Trader".

I am now looking at market /Volume Profile to expand and find more trading set ups.

If one is technical and likes Fib. numbers, Elliott waves etc.. mark Fisher system will not appeal to you.

It is deceptively simple and traders ( including myself) get fooled by it. It took me 500 hours in SIM account to see the system work enough for me to get confident and start trading LIVE 8 months ago and have not looked back.

I trade price action.....I'm a interday swing trader of price, just meaning I'm going for the bigger moves of the day....not a scalper.....targets are 5 or more points on the Russell 2000 (TFZ11). I like to trade supply and demand, areas where people w/ more money than I decided that price should turn there (before). And I'm looking for the first retracement into the area. The way it left that area previously and the way its returning is important to me. I trade the gap, as the Russell closes the gap 71% of the time on the same day. I also use globex and Yesterdays high's and low's, along w/ pivots. I'm right about 2/3rds of the time and a profit factor over 4. I have a specific plan and the hardest part of trading is getting out of my own way. I'm willing to pay it forward as it was done to me. Ask me how I know this stuff.....I've made all the mistakes it seems.

Originally posted by destiny

I day trade crude oil futures full time. I do not even look at price or volume let alone indicators. All I need enough VOLATILITY and LIQUIDITY.

Price has no meaning. On the other hand value has. There is a difference between price and Value.

For me, the most important thing is LEVELS. Levels , which are deemed important by BIG MONEY. Once a level is identified, the we need Volume to move the price.

I lost money 2 years till i got away from everything and read mark Fisher book " The logical Trader".

I am now looking at market /Volume Profile to expand and find more trading set ups.

If one is technical and likes Fib. numbers, Elliott waves etc.. mark Fisher system will not appeal to you.

It is deceptively simple and traders ( including myself) get fooled by it. It took me 500 hours in SIM account to see the system work enough for me to get confident and start trading LIVE 8 months ago and have not looked back.

Someone asked me how I identify levels? Levels are identified by Mark Fisher ACD system.

I love levels also...areas of Supply and demand.....buying wholesale and selling retail....A trader needs to do his or hers own work, verify for yourself or be a slave to borrowed knowledge and others opinions.

Sounds like we are similar. The one thing I have found that there are many vehicles to trade and many ways to trade them.

Originally posted by edmccall1

I love levels also...areas of Supply and demand.....buying wholesale and selling retail....A trader needs to do his or hers own work, verify for yourself or be a slave to borrowed knowledge and others opinions.

Sounds like we are similar. The one thing I have found that there are many vehicles to trade and many ways to trade them.

Agreed 100%. Here is my chart from 09-21-2011. Some days trading is as SIMPLE as shorting a level and when macro events are lined up- BOOM.

http://www.screencast.com/t/aizvxKhhbaR

there are those of us who have been posting on the forum for years who trade with price and volume and also continue to post in the daytading threads...lots of good resources there....


I'm not sure if you are looking for WYCOFF type of volume info or Volume profile work...I use volume profile and MP...so I would poke around the forum and ask questions!!!!

I learned to anticipate. --- Wherever means you use. Get good at anticipating where the thing is going.
I hate seeing charts, or posts where people are pointing out something that has already happen. bla, bla, bla,
I like some of the posts here bc some people put their reputation on the line by projecting a possible outcome, way before it takes place. -- "That's anticipating" an outcome. Then, they actually play it in real time!!!! (some times there some adjustments to be made as the trade unfolds-- that's the nature of the beast)-- Them real time posts are Awesome!! No B.S. _ I learn more from reading those posts than from any book!.-

Does the anticipation always works out? Hell no! 50% of the time the thing will go every where, but never to where you anticipated it will go!

So what good is it to anticipate? ----- it helps you to create a plan. The what "if" scenario.

By creating a plan you are also protecting you capital's exposure. You are in control of your money, You decide exactly what you are willing to loose for taking the risk on your anticipated objective or goal.- (If you just practice capital preservation. 3/1 ratio by at list 95% of your trades, you will be successful at trading!!)

If you are good a planing and executing your plan, any, and I mean any wiggly or no wiggly indicator will work.
You do have to know how that indicator(s) works. If you don't? plz donate you money to charity.

Originally posted by sandoxe

I learned to anticipate. --- Wherever means you use. Get good at anticipating where the thing is going.
I hate seeing charts, or posts where people are pointing out something that has already happen. bla, bla, bla,
I like some of the posts here bc some people put their reputation on the line by projecting a possible outcome, way before it takes place. -- "That's anticipating" an outcome. Then, they actually play it in real time!!!! (some times there some adjustments to be made as the trade unfolds-- that's the nature of the beast)-- Them real time posts are Awesome!! No B.S. _ I learn more from reading those posts than from any book!.-

Does the anticipation always works out? Hell no! 50% of the time the thing will go every where, but never to where you anticipated it will go!

So what good is it to anticipate? ----- it helps you to create a plan. The what "if" scenario.

By creating a plan you are also protecting you capital's exposure. You are in control of your money, You decide exactly what you are willing to loose for taking the risk on your anticipated objective or goal.- (If you just practice capital preservation. 3/1 ratio by at list 95% of your trades, you will be successful at trading!!)

If you are good a planing and executing your plan, any, and I mean any wiggly or no wiggly indicator will work.
You do have to know how that indicator(s) works. If you don't? plz donate you money to charity.

I agree on main point of your post. However, I am not clear with fascination of traders with posting or looking for real time posts.
A successful trader does not need help of real time posts from someone else to trade. If they are meant for new traders, i am of the belief they actually hurt rather than help in aggregate.

A frame work of the system being used to identify areas of interest to do business makes all the sense in the world.

I do however see value of real time posts if couple of traders follow exactly the same system and have very similar execution style - that they can refine and learn from each other and even that for a limited time like a month or so is enough. After that Marginal utility is less and can hamper growth of a trader- not the one giving but the one receiving.

That's why i like DT, Bruce and your posts - that levels are posted before the open and analysis is provided after the market close.

Hi,

Although I wasnt the original poster of the questions, can I take you up on your offer?

Thanks in advance

DR

DR. Keep checking during the day. Some times posting and trading your own account is challenging. (trading is challenging as it is) - Kudos to Bruce when he does.

Neeko,
I've seen many trade very successfully with many indicators but, I think it can often takes your eyes off more important information on a market read.. The best concepts I've seen work is the mark fisher ACD concept to spot potential trends, and market/volume profile concept for non-trends and even choppy markets.. time is also an important concept in reading price, which many overlook.. Also learn to watch the market form new pivots as it develops in real time to confirm your levels.. Simple volume bars can also tell you a lot about how decisive a move is on a BO or pull back and etc.. Putting it all together in the right context is the hard part..