The details of the #AMA in the Trading Room on 23rd June 2020
Shai: @everyone, since the market is quiet, we will do an open AMA session from 10.15 am to 10.45 am today. Ask me anything you want on MarketProfile, OrderFlow and the charts. LIve from 10.15 to 10.45, bring along your questions
Govind : #AMA – Shai, you mentioned that you saw some LT players at the top in BNF y’day and also that that zone was important from a 3 month comp perspective. Where you referring to the selling tail from March 18th and/or something more there?
Chandu : #AMA shai hw to do positional trading using mp, wat ref levels v hav to observe , sometimes even value is higher stock is flling wen i enter trades fr swing ., hw to rectify those ?
Shai : Into the #AMA please use this hashtag #AMA so we can scroll through the questions quickly
Nagaraj : #AMA Shai, how do you prepare for a trading day and what is your advice to us to keep ready before the start of the day
Nagaraj : *how
Rajesh : #AMA some times in trend days COT values mislead entries…in such situation how to get confirmation for entry without cot?
Sanjeet : #hi shai any view on c period…for last 10 days C time period always gives opposite trend/trade
Nishant : highest no of trades so far 1617 in the last five minutes.
KK : booked 10360..Iceberg stays
Shai : Its’ avg 666 contracts per minute , the number of the beast – (10:03) MJ : Shai: Like COT has range nos. Anything specific for Vo/sec?
Shai : A 3 month balance – (10:14) Govind : #AMA – Shai, you mentioned that you saw some LT players at the top in BNF y’day and also that that zone was important from a 3 month comp perspective. Where you referring to the selling tail from March 18th and/or something more there?
MJ: Woah! thanks chief.
Shai: if you zoom out from April, it is visible. Also, for me 21900- 22000 is the vwap of the March selling in BNF. a more important longer-term ref (not intra ofc)
Ashok82: #AMA Shai, On June 3rd, you said “my #MarketProfile says we stay at 10110F and form a base into tom”. Is it based on unbalance to balance?
Shai : nothing changes in #MP- follo0w the same rules of bias, look for acceptance and rejection as we discussed in last webinar- (10:15) Chandu : #AMA shai how to do positional trading using MP, wat ref levels v have to observe , sometimes even value is higher stock is filling wen i enter trades for swing ., how to rectify those ?
Parul : #AMA Shai, which strategy do you suggest from the MarketProfile setup for a beginner to trade ? Also, what to see in OF as a trigger for that strategy. Looking for something which although does not throw up more trades but is more consistent.
Rajesh : #AMA#how does day report comes with buy ,sell levels…..does it based on only HVN.LNV,SINGLE PRINTS,POC,SPIKE….OR ANY OTHER specific method for exact buy sell levels
Shai : Go through prev day notes and the OF charts with a MP chart open- (10:17) Nagaraj : #AMA Shai, how do you prepare for a trading day and what is your advice to us to keep ready before the start of the day
Shai : COT is just a confirmation tool. You won’t get misled if you are watching IB and IS- (10:17) Rajesh : #AMA some times in trend days COT values mislead entries…in such situation how to get confirmation for entry without cot?
Shai : Avoid trades with show IB and negative COT or IS with positive COT
Shai : C is meant to do exactly this :)- (10:18) Sanjeet : #hi shai any view on c period…for last 10 days C time period always gives opposite trend/trade
Praveen : what that mean when we get this combination
MJ : #AMA shai how do you manage to stay so calm always?
Sylvester : #AMA Shai i have heard the terms “Extension Handle” and 80% rule. I am not able to find references to them in training library. What do they refer in OF ?
Sanjeet : #AMA..any input on risk management
Shai : Yes one of the higher teachings of MarketProfile will give you that certainty- (10:22) Ashok82 : #AMA Shai, On June 3rd, you said “my #MarketProfile says we stay at 10110F and form a base into tom”. Is it based on unbalance to balance?
Shai : The rules of Bias in Market Profile with confirmation from IB / IS – (10:22) Parul : #AMA Shai, which strategy do you suggest from the MarketProfile setup for a beginner to trade ? Also, what to see in OF as a trigger for that strategy. Looking for something which although does not throw up more trades but is more consistent.
Shai : 3 rules of Bias- a) Know the open, b) watch the vwap c) respond at the range extension
Shai : All of it put together to form 1 neat template – (10:23) Rajesh : #AMA#how does day report comes with buy ,sell levels…..does it based on only HVN.LNV,SINGLE PRINTS,POC,SPIKE….OR ANY OTHER specific method for exact buy sell level
KK : the days with open drive, just trade those, if less trade, more consistent, unless it goes back through those,.
Shai : 🙂 – (10:25) MJ : #AMA shai how do you manage to stay so calm always?
K2dt : #AMA chief how to not get swayed by emotions when u make a lot in a day?
Shai : You can control yourself , but you cannot control the outside. Manage what you can manage
Uttam : today’s chat is gold 🙂
Chandu : #AMA in somedays v see IB, IS with 1L cot 2 ,3 times in such case do v need to consider big buyer/seller in all which one v have to consider, do v have consider all r ?
Shai : extension handle is a move away from IB which is 1st 60 mins of trade. Has to be confirmed with huge volumes- (10:25) Sylvester: #AMA Shai I have heard the terms “Extension Handle” and 80% rule. I am not able to find references to them in training library. What do they refer in OF ?
KK : #AMA Shai, in a positive bias day, how do we know, the day low has come post VWAP break, like today, I was waiting to go all in at 11230/11240 for long, but it didn’t come and there were not heavy greens too at the lows. Some reds stuck, but not that much
Ashok82 : #AMA Shai, What does P or b profile indicate?
Shai : 80% rule is a movement which comes back into a previous VA and goes from one end to the other end and has a probability of doing so 80% of the time and referred to as such- (10:25) Sylvester : #AMA Shai I have heard the terms “Extension Handle” and 80% rule. I am not able to find references to them in training library. What do they refer in OF?
Shai: we have a note in the welcome kit sent. A must read- (10:25) Sanjeet : #AMA..any input on risk management
Sylvester : Thanks Shai
Shai : https://vtrender.com/risk-management-on-calls/
Sanjeet : Thank you shai
Neeraj : #AMA- what is minimum capital required to trade in trading room Shai..?
Shai : have a plan, follow a process. It’s not diff when process and markets are clear. Avoid trading if there is a gap in either or both – (10:28) K2dt : #AMA chief how to not get swayed by emotions when u make a lot in a day?
Bommareddy : #AMA COT Range numbers plz
Shai : Avoid trades which show IB and neg COT or IS with positive COT- let it slide. The market will give other opportunities next few minutes – (10:29) Chandu : #AMA in somedays v see IB, IS with 1L cot 2 ,3 times in such case do v need to consider big buyer/seller in all which one v have to consider, do v have consider all r ?
Shai : P is short covering profile and b is long liquidation. These are end of day patterns – (10:31) Ashok82 : #AMA Shai, What does P or b profile indicate?
Chandu : #ama how do v find which day is forming any further studies v have to do
Rajesh : #AMA#DOES 30 MIN POC is very important to take decision?
Neeraj : #AMA- how you identify a LLT…what amount of volume generally we consider that this a LLT…?
Shai : Minimum is decided by your broker, not us. But to trade, make sure you have capital which is yours and not borrowed from friends, banks etc. and the size you trade should be comfortable for you not get shaken if the market goes against your position for a few minutes – (10:33) Neeraj : #AMA- what is minimum capital required to trade in trading room Shai..?
Rajesh : #AMA3DOES 30 MINUTE cot is also important…to analyze trend?
Shai : COt is a dynamic number , but for the current scenario anything neat 1L COT is a game changer- (10:33) Bommareddy : #AMA COT Range numbers plz
Shai : yes watch D and E periods for extensions and trend days- (10:36) Chandu : #ama how do v find which day is forming any further studies v have to do
Shai : depends on your time frame of trade – (10:36) Rajesh : #AMA#DOES 30 MIN POC is very important to take decision?
Vishnu : shai we are in the iceberg zone . Ping-Pong play going on. if we stay quiet some time here with positive cots means iceberg players out with his positions. am i right?
Chandu: # AMA what is iceberg significance shai?
Shai: LLT again is a dynamic number. It is the weight of one entity against the market. So in a thin low volume market even 1L qty is an LLT, but in a highly liquid market a 5L qty may not be 1
Parul : #AMA Shai from one your answers to a previous question, if the 5 minute chart shows IB and positive COT, we can take a buy trade and vice versa ? Any threshold of COT numbers we are looking at?
Shai: No, restrict COT to 5 mins – (10:37) Rajesh: #AMA3DOES 30 MINUTE cot is also important…to analyze trend?
Shai : Iceberg is an Orderflow concept of a big player who has identified a zone to distribute – (10:39) Chandu : # AMA what is iceberg significance shai?
Shai : yes- (10:40) Parul : #AMA Shai from one your answers to a previous question, if the 5 minute chart shows IB and positive COT, we can take a buy trade and vice versa ? Any threshold of COT numbers we are looking at ?
Shai : Anything abv 40K is a good COT
Shai : I’ll take 2 more questions, before we round off
Shai : Good questions everyone
Shai : we will also have a webinar this Thursday at 08.30 pm, on the inner workings of an Orderflow chart. Don’t miss it
Rajesh G : #ama are we into second phase of the market as per stedlemaer
Dhananjayan : Shai #AMA, we had one LLT at 10000 in Jun futures, so what do we read abiout it?
Uttam : awesome +100 – (10:43) Shai : we will also have a webinar this Thursday at 08.30 pm, on the inner workings of an Orderflow chart. Don’t miss it
Himanshu : I did not have to ask question – but not got further clarified
Chandu : #AMA shai wer v have observe these imbalance lines significance..,
Himanshu : Kudos buddies – Good questions really
Shai : I think we go to 11400 – (10:43) Rajesh G : #ama are we into second phase of the market as per SteidlMayer
MJ : Shai options writing using MP. please in one of your webinars.
Swapnil : @Shai – timeframe for 11400?
Rajesh G : thanks shai
Vishnu : +100 shaiii
Shai : imbalances abv or below values areas only , better if outside composites- (10:43) Chandu : #AMA shai wer v hav observe these imbalance lines significance..,
K2dt : +100 chief thanks
Shai : 10100 SL for now , not confirmed yet, read morning notes. TF- july/ early aug- (10:44) Swapnil: @Shai – timeframe for 11400?
Shai: Awesome Guys- with that we close and go back to the markets. If I missed any questions, please repost