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It's not a newer form - the cheaper one just has the videos. The more expensive has the trading included. But of course aiming for the cheaper one is best as we may not be able to get the more expensive one. If we reach the cheaper one, then we can talk about the more expensive one
 
Thanks SpreadTrader....that's a confirmation I'm going in the right direction.

Have you studied all that from Jim and others and are you consistently profitable yourself?
 
optionstrading said:
Thanks SpreadTrader....that's a confirmation I'm going in the right direction.

Have you studied all that from Jim and others and are you consistently profitable yourself?
Click to expand...
I studied lots of Dalton materials, also looked up the glossary of verniman's blog one by one in reference to what Dalton teaches about it and it helped me to understand the basics.

Auction Market Theory: any free source does the job, even old Fatcat videos and similar stuff. PirateTraders course also explains it well.

VWAP: just understand what it means and how verniman uses it.

internals: just google it, learn the basics and know why these can be useful. PirateTraders site again provide a good basic (and free) description for starter.

Tape reading: set your EA T&S like this: filter the noise (eg everything below 5), highlight the large block (eg everything above 50). Or you can set up 2 tapes, one as described before, the second one filter everything below 20. Watch how the trades flow and learn to interpret how it can show / confirm market direction, changes, etc.

If you use TradingView, set up the volume profile on the left showing the DEVELOPING value area lines going to the right. Subscribe to verniman's koffi so you can follow him live. Check his entries vs the developing value area lines and you will learn a lot.

This method used to be quite profitable before the hft algos and 0DTE influence appeared. Even verniman mentioned recently that it changed the markets, made daytrading completely different and who can not addopt will die on these markets and new conditions. Check his latest tweets and blog post. ES is a mess nowadays, it doesn't mean you can't still be profitable using this method if you trade carefully. I personally moved from daytrading to longer term swing trading as I got completely burnt out from watching the DOM and T&S for hours every day for years and needed a more relaxed trading style.
 
SpreadTrader said:
I studied lots of Dalton materials, also looked up the glossary of verniman's blog one by one in reference to what Dalton teaches about it and it helped me to understand the basics.

Auction Market Theory: any free source does the job, even old Fatcat videos and similar stuff. PirateTraders course also explains it well.

VWAP: just understand what it means and how verniman uses it.

internals: just google it, learn the basics and know why these can be useful. PirateTraders site again provide a good basic (and free) description for starter.

Tape reading: set your EA T&S like this: filter the noise (eg everything below 5), highlight the large block (eg everything above 50). Or you can set up 2 tapes, one as described before, the second one filter everything below 20. Watch how the trades flow and learn to interpret how it can show / confirm market direction, changes, etc.

If you use TradingView, set up the volume profile on the left showing the DEVELOPING value area lines going to the right. Subscribe to verniman's koffi so you can follow him live. Check his entries vs the developing value area lines and you will learn a lot.

This method used to be quite profitable before the hft algos and 0DTE influence appeared. Even verniman mentioned recently that it changed the markets, made daytrading completely different and who can not addopt will die on these markets and new conditions. Check his latest tweets and blog post. ES is a mess nowadays, it doesn't mean you can't still be profitable using this method if you trade carefully. I personally moved from daytrading to longer term swing trading as I got completely burnt out from watching the DOM and T&S for hours every day for years and needed a more relaxed trading style.
Click to expand...

Thank you for sharing your thoughts. A lot of good information there.

Pirates has a course coming up (https://marketsandmind.com/) - wanna do a GB on this?

How does Verniman use VWAP and how different is how he uses it from others?

But my question is having gone through all this and learning all this, are you yet consistently profitable or do you hope to be soon? If not, what's preventing you from being profitable? The lack of a good strategy, risk management, managing your emotions, lack of capital? I would think because you know all of the above (which is what I'm planning to learn and apply over the next 6 months), you'd be consistently profitable by now.

Or are you saying that this method no longer works as well (coz of what you mentioned above) - but I still know people who are profitable using all of the above.

I'm wondering whether in a few years time - with AI becoming more prevalent and perhaps also being applied to more algorithmic and machine learning - if manual trading is going to be so difficult

For your Swing Trading, do all the above help in the same way, or are there special strategies and other tools that need to be used?
 
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