So for the past week I have been trying to get volume and expected range down so that I understand it completely. After watching Darrell’s video on plotting magnet levels using high volume spikes, it helped me to determine the direction of the NQ last Wednesday using playback on ninja trader. I did trade this day in real time but lucky for me my memory is very poor, and I also wanted to make my trading decisions based directly from what the volume & the expected range was showing me. Posted below is my step by step thinking before the open to the end of the trade.
Currently I am using SEES and I love it. I have been using the system all summer and I don’t want to go to another one any time soon. Although it is a scalping system, I am hoping that this will help me determine if the day is going to be trending or choppy. On this day, I was correct but I would really like some input to see if my expectations were legitimate, or I got lucky. The charts posted go through my thought process before I started trading and go through what I was looking at which help me determine what I was expecting.
Learning about volume and range has helped me greatly! Learning to read the real time market conditions gives me so much more confidence when trading, and helps to keep me out of bad trades when the indicators say otherwise.
Any feedback, tip and tricks, or maybe something I missed would be very helpful.
Thanks, Stew.
