Author Archives: Conor Browne

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Daily Meeting for Wednesday July 3

Posted on by Conor Browne

Pre-Holiday Trading Strategies and Market Reflections

• Pre-Holiday Market Closing: Discussion on the early market closure at 1 PM Eastern due to the July 4th holiday, impacting trading decisions and strategies.

• Trading Performance: Ernie shared his recent trading successes, including daily profits and overall growth of a $10,000 account from $7,000 over the past month.

• Trade Execution and Adjustments: Talked about taking profits early, managing trades in low volatility, and considerations for entering additional trades during significant market moves.

• Economic Report Impacts: Reviewed the effects of recent economic reports, such as PMI, ISM, and ADP employment data, on market performance and trading strategies.

• Volume Profile Utilization: Emphasized the importance of using LVNs (Low Volume Nodes) and other structural elements in trading decisions, particularly in low volatility environments.

• Broader Economic and Political Context: Discussed the potential impacts of political and economic conditions on the market, including AI advancements and Supreme Court decisions.

Summary

In the daily meeting held on July 3rd, Ernie and the participants discussed the implications of the early market closure at 1 PM Eastern due to the upcoming July 4th holiday. Ernie shared his recent trading successes, noting a consistent increase in his $10,000 account, which had grown from $7,000 over the past month. He discussed his strategy of taking profits early in the day, especially in low volatility environments, and highlighted the importance of using LVNs and other structural elements for making trading decisions.

The meeting also reviewed the impacts of recent economic reports, including PMI, ISM, and ADP employment data, on market performance. Ernie and the participants discussed their trading strategies in response to these reports and the overall market conditions. Additionally, there was a broader discussion on the potential impacts of political and economic conditions on the market, including AI advancements and recent Supreme Court decisions.

Ernie emphasized the need for careful trade management, especially when entering additional trades during significant market moves. The session concluded with participants sharing their plans for the holiday and reflecting on the importance of understanding broader economic and political contexts in trading.

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Daily Meeting for Monday July 1

Posted on by Conor Browne

Navigating Market Dynamics and Contract Transitions

• Market Uncertainty: Discussed the current market indecision between bullish and bearish trends, highlighting the potential double top pattern that needs confirmation.

• Economic Impact Analysis: Explored the effects of recent economic reports, particularly PMI and ISM manufacturing data, on market movements and how bad news might be perceived as good news due to potential rate cuts.

• Volume Profile and Contract Transition: Addressed the challenges of analyzing volume profile data during futures contract rollovers and strategies for handling gaps in data.

• Technical Difficulties and Trade Execution: Provided guidance on executing complex trades, such as the box trade, particularly when using mobile platforms.

• New Trading Tools and Indicators: Introduced and evaluated new indicators on TradingView, including the volume footprint and time price opportunity charts, discussing their potential utility.

• Volume Profile Mastery: Emphasized the importance of continuous study and application of volume profile analysis to predict market behavior and improve trading strategies.

Summary

Ernie led a discussion on the prevailing market uncertainty, particularly the indecision between bullish and bearish trends and the potential double top pattern awaiting confirmation. Participants examined the impacts of recent economic reports, noting that worse-than-expected PMI and ISM manufacturing data might paradoxically lead to market optimism due to anticipated rate cuts.

The meeting also covered technical challenges related to analyzing volume profile data during futures contract rollovers, with strategies provided to handle gaps in data. Ernie offered detailed guidance on executing complex trades like the box trade, especially when using mobile devices, addressing common difficulties.

Additionally, new TradingView indicators such as volume footprint and time price opportunity charts were introduced and evaluated. While these tools offer detailed information, their practical utility remains uncertain. Ernie reinforced the value of mastering volume profile analysis, encouraging continuous study and application to enhance predictive accuracy and trading efficiency. The session concluded with an open forum for questions, ensuring participants were well-prepared for the shortened trading week ahead.

Archive, Retrospective

Sunday Retrospective for June 30

Posted on by Conor Browne

Emphasizing Volume Profile and Strategic Planning

• Volume Profile Implementation: Reaffirmed the importance of volume profile analysis as a leading indicator and discussed its role in identifying market structure and liquidity areas.

• Tool Improvements: Participants suggested improvements for the profit taker and simulator tools, to be discussed in future meetings.

• Personal Insights and Achievements: Shared personal anecdotes, including Ernie’s experience at a dog show and a participant’s real-life trading success using the volume profile.

• Strategic Visualization: Highlighted the role of visualization in preparing for trading, drawing parallels with Olympic training techniques for enhanced performance.

• Market Structure Analysis: Demonstrated a step-by-step process for analyzing market structure using volume profile, with an emphasis on identifying high and low liquidity areas.

• Preparation for Trading Week: Encouraged participants to plan their trades in advance, using volume profile insights to identify potential entry points and create scenarios for market movements.

Summary

In the Sunday retrospective meeting, Ernie reiterated the importance of volume profile analysis in trading, describing it as a leading indicator that provides real-time insights into market structure and liquidity. Participants discussed potential improvements for the profit taker and simulator tools, with suggestions to be elaborated in future sessions. Ernie shared personal stories, including a dog show experience, and emphasized the value of visualization in strategic preparation, likening it to the training methods of Olympic athletes. The meeting included a detailed demonstration of volume profile analysis, highlighting how to identify significant market structures and liquidity areas. Ernie encouraged traders to prepare for the upcoming week by planning their trades in advance, leveraging volume profile insights to identify potential entry points and develop various market scenarios. The session underscored the cumulative value of small, consistent profits and the importance of disciplined, strategic trading practices.

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Daily Meeting for Friday June 28

Posted on by Conor Browne

Advanced Volume Profile Analysis and Market Strategy

• Market Opening Patterns: Emphasized recurring pattern of the market opening with a sharp increase followed by a decline, discussing how this can be used for quick profit-taking in low volatility, high gamma environments.

• Volume Profile Exploration: Detailed introduction to volume profile analysis from scratch, including its advantages over traditional candlestick methods and how it provides a more comprehensive market understanding.

• Technical Insights on Futures Contracts: Explored practical questions about futures contracts, specifically the costs associated with rolling over contracts like wheat or crude oil, and the implications for ongoing trading strategies.

• Participant Feedback and Learning: Highlighted Ernie’s appreciation for participants’ feedback and his realization of the need to consistently emphasize the importance of volume profile to enhance learning and adaptation.

• Integration of Volume Profile in Trading Tools: Discussed the integration of volume profile into trading tools and the future development of features to enhance trader interaction with market data.

• Volume Profile and Market Movement Prediction: Explored how volume profile could potentially predict market movements by creating a visual map of market structure akin to a topographical map, influencing trade decisions.

Summary

This meeting, focused extensively on the benefits and applications of volume profile in trading, contrasting it with traditional methods like candlestick charts and moving averages. Ernie provided a live demonstration, explaining how volume profile offers a clearer view of the market by illustrating volumes at different price levels, which is crucial for making informed trading decisions. He also discussed the mechanics of futures contracts, addressing specific participant queries about contract rollovers and their costs. The session was interactive, with Ernie emphasizing the educational aspect of these meetings, encouraging ongoing dialogue, and stressing the importance of adapting trading strategies based on volume profile insights. The discussion also touched on future enhancements to trading tools that integrate volume profile, aiming to provide a more intuitive and comprehensive trading experience.

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Daily Meeting for Thursday June 27

Posted on by Conor Browne

Strategic Discussion on Market Volatility and Trading Adjustments

• Market Volatility Concerns: Discussed the challenges of trading in a market experiencing low volatility, affecting the width and profitability of trades like the ‘Batman’ strategy.

• Trade Adjustments and Decisions: Explored personal trade adjustments due to market conditions, including the choice of narrower trade widths to save costs, resulting in mixed outcomes for participants.

• Debate Impact on Markets: Anticipated the potential impact of a political debate on market behavior, with special attention to logistical disruptions in Atlanta due to the debate.

• Low Volatility Trading Strategies: Highlighted the importance of making quick, small-profit trades in a low volatility environment, emphasizing risk reduction and fast decision-making.

• Volume Profile Importance: Stressed the critical role of volume profile analysis in trading, especially for understanding market structures and levels respected by the market.

• Open Forum Feedback: Conducted an open forum for participants to share their experiences and adjustments in strategy based on recent market behaviors and Ernie’s teachings.

Summary

The daily meeting led by Ernie focused on the nuances of navigating a low volatility market, which has been challenging for traditional trading strategies. Participants shared their experiences with adjusting trade sizes and strategies, such as the ‘Batman’ setup, to adapt to the sluggish market movements. Ernie emphasized the importance of recognizing small profit opportunities quickly as a viable strategy during these periods. The discussion also touched on the broader impacts of external events like political debates on market conditions. A significant part of the meeting delved into the importance of volume profile analysis in trading, illustrating how this tool helps in identifying key market levels and structures. Feedback from participants revealed a growing understanding and appreciation of this analysis technique, which many acknowledged had improved their trading outcomes. The session was also a platform for traders to voice their observations and learn from each other, fostering a collaborative environment for strategy refinement and personal trading growth.

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Daily Meeting for Wednesday June 26

Posted on by Conor Browne

Daily Strategy Discussion on Market Entry Timing and Volatility Adaptation

• Revisited Market Entry Methods: Discussion on improved precision in market entry methods, resulting in consistent small profits over the past four days.

• Volatility and Market Entry Timing: Addressed the role of market volatility in trading strategies, with emphasis on optimal entry times (between market open and 10:30-11:00) for best opportunities due to volatility.

• Use of LVL/LVN and Structural Market Elements: Introduction of Low Volume Levels (LVL) or High Volume Nodes (LVN) as critical elements for timing market entries, providing support and bounce-off points for trades.

• Live Trading View Analysis: Real-time analysis and demonstration of recent successful trades, emphasizing the role of structural support in decision-making.

• Discussion on Gamma Risk and Trade Management: Insights into managing gamma risk in a low-volatility environment, including strategies for quicker decision-making to lock in early profits.

• Feedback and Strategy Adaptation: Open forum for participant feedback on recent trading strategies and discussion on personal adaptations, highlighting the importance of continuous learning and strategy refinement.

Summary

This daily meeting, focused on discussing refinements to market entry methods that have shown profitability in recent days. Ernie emphasized the importance of understanding and utilizing market volatility to determine optimal entry points, specifically advocating for entries during the most volatile market periods. The discussion also covered the strategic use of LVLs or LVNs, which serve as indicators for potential bounce points, enhancing the timing of market entries. Ernie used real-time trading data to demonstrate these concepts, reinforcing the discussion with visual evidence from recent trades. Additionally, there was a robust dialogue about managing gamma risk in different volatility scenarios, stressing the need for fast responses to market movements to secure profits. The meeting concluded with an interactive feedback session, allowing participants to share their experiences and adapt strategies based on the discussed principles, underscoring the dynamic nature of trading and the need for constant adaptation and learning.

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Daily Meeting for Tuesday June 25

Posted on by Conor Browne

Market Dynamics and Strategy Discussions

• Market Frustrations and Trading Preferences: Ernie expresses frustration with the current market behavior, discussing his preference for trading XSP due to recent market unpredictability.

• Anticipations for Market Volatility: Discussions centered around expectations for higher volatility days, with Ernie recalling past experiences when even slight increases in volatility significantly impacted trading ease.

• Factors Influencing Market Volatility: An in-depth exploration of potential drivers for increased market volatility, including governmental actions, economic reports, and market sentiment influenced by large financial entities.

• Economic Manipulations and Market Predictions: Ernie critically examines the perceived manipulation of economic reports and interest rates by the Federal Reserve and discusses the broader economic and political influences on market stability.

• Real Estate and Economic Observations: A personal anecdote about the real estate market’s impact on personal financial decisions, reflecting broader economic trends and personal finance strategies.

• Future Market Speculations and Trading Strategies: Prospective discussions about potential market movements, trading strategies, and the importance of adapting to market conditions.

Summary

During the daily meeting on June 25, Ernie shared his frustrations with the current market’s unpredictability and his strategic preference for trading XSP. He discussed the potential for future higher volatility days, recalling how small increases in volatility had previously made trading significantly easier. The conversation also delved into what might drive future volatility, with a focus on governmental and economic factors, and the influence of major financial entities on market perceptions and stability. Additionally, Ernie critiqued the manipulation of economic data and interest rates by the Federal Reserve, predicting potential future economic disruptions. Personal anecdotes about the real estate market highlighted the broader economic impacts on personal financial decisions. The meeting wrapped up with speculative discussions on future market conditions and the strategic importance of adaptability in trading.

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Daily Meeting for Monday June 24

Posted on by Conor Browne

Strategic Adjustments and Market Insights

• Review of Recent Trades: Discussion on recent trade outcomes and the unexpected market movements that affected trading strategies.

• Analysis of Market Behavior: Detailed analysis of current market trends and how they impact ongoing trading strategies.

• Adjustments to Trading Strategies: Consideration of necessary adjustments in response to market unpredictability and learning from past trade setups.

• Insight on Discipline in Trading: Emphasis on the importance of maintaining discipline in trading despite the market’s volatility.

• Technical Analysis Overview: Overview of key technical indicators and their current readings, influencing the day’s trading decisions.

• Future Market Predictions: Predictions and expectations for the upcoming trading sessions based on current market data and trends.

Summary

During the meeting on June 24, the team reviewed recent trades that were impacted by unexpected market movements, emphasizing the need for strategic adjustments. The discussion highlighted the importance of discipline in trading, especially in volatile markets. Technical analysis was a focal point, with a detailed examination of indicators that shape daily trading decisions. Future market behaviors were predicted, preparing the team for upcoming sessions. This meeting served as a crucial checkpoint for refining strategies and aligning them with the current market landscape.

Archive, Retrospective

Sunday Retrospective for June 23

Posted on by Conor Browne

Reflections and Adjustments

• Review of Past Performance: The meeting opened with a review of the past week’s trading activities, focusing on the successes and areas for improvement.

• Adjustment of Strategies: Discussions on adjusting trading strategies based on recent market behavior and outcomes from the previous week.

• Feedback from Participants: Participants shared their personal experiences and feedback, which contributed to a collective learning environment.

• Identification of Challenges: The team identified key challenges faced during the week and brainstormed potential solutions and adjustments.

• Educational Focus: The retrospective included a segment dedicated to educational development, enhancing understanding of complex trading concepts.

• Planning for the Upcoming Week: Concluded with planning and setting objectives for the upcoming week, ensuring alignment with overall trading goals.

Summary

The Sunday Retrospective for June 23 provided a comprehensive platform for reflection and strategic planning. The meeting facilitated a thorough review of the past week’s trading activities, highlighting both achievements and areas needing improvement. Through participant feedback and collaborative discussion, the team identified key challenges and adjusted their trading strategies accordingly. Educational segments were incorporated to bolster understanding of complex concepts, enriching the team’s skill set. The session concluded with clear objectives set for the upcoming week, aligning with broader trading goals, ensuring the team was prepared to navigate future market conditions effectively.