Yet another individual begins his trading path. Not for the money per se but it has consummed my waking and dreaming state; I am slowly becomming a slave to the tape.
Trading Education:
Ken roberts - this was in high school when I became fascinated with leverage. Also when I learned this is not so easy.
Schooloftrade - good information, positive mentorship. Lead me on my current path.
To many books to mention- but i did lean that for the most part they are all shite (see not a curse if there is an "E" at the end)
Currently - bid/ask
Platforms:
NT7 with zenfire
IRT pro with DTN
Current Interest:
How does price react at the bid and ask, in regards to volume, tick delta, and cummulative delta at specific chart patterns?
Essentially, I care not for indicators based on price. I want to ONLY focus on data derived from action/reaction to how supply and demand are acting/reacting at specific chart patterns.
Specific Short Term Goal:
1. Wait for pullback to 13ema.
2. When price is approaching the 13ema what is happening to:
a. market orders on the bid
b. market orders on the ask
c. the delta of the two.
d. the delta of tick and trade volume.
e. what does price do?
This is my way to ONLY watch the data at these points.
During market replay, I can simply look at a days worth of data for say a 21range chart and see where the pullbacks occured and then focus in on the time the market turned to head to EMA, the time at the EMA, and the time it moves away from the EMA.
Simply gathering data, and see if patterns can be found that will help me in the future qulaify which trades to take and which to wait. Might find that this is all worthless which will also be valuable information!
Greates lesson learned thus far - patterns only matter at specific ares of price! Took me a while to REALLY get that in my head.