Last week my bias model spit out the venereous Bunker Buster long signal and it turned out to be correct. We tagged the upper ATR (Average True Range) band first, before ultimately reversing and trading lower.
It is interesting, that this calculated level devoid of market profile logic, often behaves as a turning point in the markets. I have seen it happen countless times.
However, the week ultimately closed lower, thus the secondary goal of my bias model, which is to call a positive/negative week overall, was not achieved. And although it failed at this task, I managed to have my best trading week in months.
Big volatility creates big opportunity to day-trade. In reviewing last week’s trades, I was amused by the fact that I earned most of my money on long trades. It seems asinine, yes? But the 2016 market has been methodical and extremely compliant with the levels generated by auction theory aka the reports I freely publish every morning here on iBankCoin.
Over the last two weeks I have been discussing my approach heavily on Snapchat [VCali]. It has been a tremendously positive experience and I suppose I will keep doing it. You can follow me there freely as well. We discuss what the markets are doing in real-time, and I will answer any of your questions with a video response. That means you get to see me when I talk to you..I think that is so cool.
When it comes to trading, I treat it like a business. In business, I tend to stick with what’s working. Right now my trading is working. Whether or not the continuous conversation I am having with people on Snapchat is the reason or not I am unsure, but I will stick with it.
As for this week. I have some work to do regarding my position trades. It looks like we are in store for another adventurous week. I heard rumors the (pardon my blunt tone) bullshit Middle Eastern stock markets (lolz) had oil down like 6% this morning on the Iranian sanctions being lifted. I didn’t know this, but in the Middle East, where the camels roam, Sunday is the first working day of the week. Disgusting.
Let it be known I work extremely hard every day of the week, but I respect the fat American’s right to enjoy superfluous television, food, and relaxation on Sundays.
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Maybe you have already done this, but a primer on your approach would be helpful. I’ve read your strategy sessions on Exodus and have found them difficult to follow. Probably not enough effort on my part; I’ve made some attempts to learn market profile and just haven’t gotten my head around it. Now, I rarely trade intraday, so it may be less applicable for me anyway. This comment is intended to be constructive – I think you know what your’e doing. I’d just like to understand it well enough to fit it into my own trading.
Thanks, I’m going to put some work into more simply communicating my overall approach to you guys.
I made most of my money on the long side as well day trading… except thursday I caught $ESH high and faded @1924ish. I get 2 or 3 chances to get hit at favourable prices although it is very difficult to stay patient when the book is moving 800mph. The rotations are unreal. I trade on my iPhone while i feed the cows lol. I don’t get to see every tick, so I think it works so i don’t get mind fucked by the speed of the market hence your snapchat edge! watch the levels and be fearless.. which is another topic onto itself.
Thanks Raul
Epic rotational market, glad to hear it’s treating you wel