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How to read footprints (advanced)?


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How to read footprints (advanced)?

  #1 (permalink)
debleded
Vienna, Austria
 
Posts: 2 since Aug 2021
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Hello everybody,

first to my person: i started with Macks PATīs, bought the manual and used a lot of time to read it, watch his videos and simtrade. I started to go live to, but after around 30 trades my account was back at breakeven.

Next i began to inform myself with free ressources about footprint / volumetric charts. This contained stacked imbalances, unfinished auctions, p / b patterns and delta divergences.

I also started coding in ninjascript and backtested different price action strategies alone and combined with footprint concepts ( footprint concepts alone too). I am still unsure how to use the "footprint concepts" right.

I know why this concepts theoretically work, but my original plan to develop a price action strategy, fine tuned with footprint entrys / exits didnīt work. It seemed like i donīt use footprint properly, the results havenīt improved appreciable.

Are there advanced books, courses.. for this topic existing you can recommend?
What are your experiences with footprint chart trading? If you trade, are you profitable? How do you learned about that topic?

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  #2 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
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debleded View Post
Hello everybody,

first to my person: i started with Macks PATīs, bought the manual and used a lot of time to read it, watch his videos and simtrade. I started to go live to, but after around 30 trades my account was back at breakeven.

Next i began to inform myself with free ressources about footprint / volumetric charts. This contained stacked imbalances, unfinished auctions, p / b patterns and delta divergences.

I also started coding in ninjascript and backtested different price action strategies alone and combined with footprint concepts ( footprint concepts alone too). I am still unsure how to use the "footprint concepts" right.

I know why this concepts theoretically work, but my original plan to develop a price action strategy, fine tuned with footprint entrys / exits didnīt work. It seemed like i donīt use footprint properly, the results havenīt improved appreciable.

Are there advanced books, courses.. for this topic existing you can recommend?
What are your experiences with footprint chart trading? If you trade, are you profitable? How do you learned about that topic?

Would be curious to know how you managed to test some price action strategies given most of them rely so much on the user discretion and the developing context. Anyway, in my mind one of the best webinar on order flow was presented by gomi on Futures.io:



Also, if you do this search on Google you'll get some good contents:
site:futures.io +Silvester17 +footprint

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  #3 (permalink)
 
sudhirc's Avatar
 sudhirc 
detroit,mi
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redundant post...
concur with the above post.

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  #4 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
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This site provides a good intro to the footprint chart (have no affiliation with it just found it using Google):

https://www.jumpstarttrading.com/footprint-chart/

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  #5 (permalink)
debleded
Vienna, Austria
 
Posts: 2 since Aug 2021
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Thank you for the video! Iīll watch it later.

To clarify the part with a price action strategy: I was not able to create a profitable system. I tried to detect Trading ranges (s / r Levels multiple Tops / Bottom + fitting candlestick patterns) or to detect trends with onelegged / twolegged Pullbacks at EMA 21.

This basically worked, the problem was there is always a bigger picture of the price action. And to be honest if i am on my own not a profitable trader, how shall i code a program what is profitable?
It was more about trial and error.


And i have to smile, the free content of jumpstarttrading was my main source for orderflow. They have a good explaining article about footprints on ther website.

I wanted to open a new trade in the vendor section, if anybody has experience with their orderflowpro. I am not sure if the pro program is recommendable.
Unfortunately i need 10 posts on futures.io before iīm allowed to do so.

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  #6 (permalink)
TraderAnna
Budapest,Hungary
 
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Great post!

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  #7 (permalink)
 
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 bobwest 
Western Florida
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TraderAnna View Post
Great post!

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  #8 (permalink)
 
Silvester17's Avatar
 Silvester17 
Columbus, OH
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trendisyourfriend View Post
Would be curious to know how you managed to test some price action strategies given most of them rely so much on the user discretion and the developing context. Anyway, in my mind one of the best webinar on order flow was presented by gomi on Futures.io:


I have to agree, an excellent webinar by @gomi. but not only the webinar, also his tools are top notch:




btw, I also pay attention to those b and p shaped profiles. especially if we have a p shaped profile (bearish) with a lot of buying at the top of the candle (buy imbalance). or a lot of selling with a b shaped profile (bullish). those are divergences worth looking at imho

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  #9 (permalink)
 
Silvester17's Avatar
 Silvester17 
Columbus, OH
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here's a good example what I like to see:

- bullish delta divergence
- bullish cd divergence



and also the earlier mentioned -b- shaped volume profile:




it would have been even more powerful with a sell imbalance at the bottom. but still a pretty good opportunity for a counter trend (reversal)

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  #10 (permalink)
Trading in Canada
Burlington, ON Canada
 
Posts: 66 since Feb 2021
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debleded View Post
Hello everybody,

first to my person: i started with Macks PATīs, bought the manual and used a lot of time to read it, watch his videos and simtrade. I started to go live to, but after around 30 trades my account was back at breakeven.

Next i began to inform myself with free ressources about footprint / volumetric charts. This contained stacked imbalances, unfinished auctions, p / b patterns and delta divergences.

I also started coding in ninjascript and backtested different price action strategies alone and combined with footprint concepts ( footprint concepts alone too). I am still unsure how to use the "footprint concepts" right.

I know why this concepts theoretically work, but my original plan to develop a price action strategy, fine tuned with footprint entrys / exits didnīt work. It seemed like i donīt use footprint properly, the results havenīt improved appreciable.

Are there advanced books, courses.. for this topic existing you can recommend?
What are your experiences with footprint chart trading? If you trade, are you profitable? How do you learned about that topic?

Good Question I'll follow this thread.

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Last Updated on August 19, 2021


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