A few days back we ran a webinar with NinjaTrader called Swing Trading With Volume Profile. The duration of the webinar was limited, so I didn’t have time for a Q/E section, but we did receive many really good questions posted in the chat, and later in my email. I decided to answer the most interesting ones here publicly, so you can also benefit and more importantly learn from them. Here we go!
Q: I’m wondering what more I will gain from your Forex Course that I haven’t learned from your book?
The main advantage of the course is that you see how I apply my trading methods on real markets in current trading conditions every day. The application is very important and this is how you can really accelerate your learning process.
Q: Do you trade reversing in the Swing trade or just intraday?
I do reversals only for intraday but it is not a bad idea to try them on swings too. However, before doing so, there must be some research on the levels and how reversals perform on swings.
Q: Are Flexible & Fixed Volume Profile one product or two?
Flexible Volume Profile and Fixed Volume Profile are two products but they are both part of Volume Profile Pack.
There is a free 5-day trial. Just download and install the pack, and it will run 5 days for free.
You can download installer and instructions here: Volume Profile Pack installer
Q: I would like to understand the differences between the two (Flexible and Fixed Volume Profile).. and mostly will it improve my trading?
Best way to demonstrate the differences would be if you watched those two videos:
Every market is controlled and manipulated by big financial institutions. Volume Profile helps you to track actions of those institutions. I think it is absolutely essential to know what they are doing because they are the main force in the markets. In fact, I don’t really think anybody can be profitable without knowing what those institutions are up to.
Q: How do I access the free trial of the Volume Profile indicator? I have navigated to the Volume Profile page but haven’t seen the free trial.
Just download it and install it. That’s it. No need for any authorization or anything like it. It will work for 5 days from the moment you have installed it.
Also please read the instructions to learn how to use the profile and how to adjust your settings for the best performance.
Instructions are here: Volume Profile Pack – Quick guide
Q: I don’t know much about NinjaTrader. Can I use the NinjaTrader for free chart analysis lifetime or do I need to buy any subscription later?
NT is a free charting platform. No need to purchase it (or data). All is for free. Also you can use it for charting only and then you can trade with your current broker.
There is an article with info and links which you may find useful here:
Q: If I buy only Forex course and buy MT4 indicator will I be then able to apply your techniques properly in Forex?
Yes, you will. My advice would be to get the Webinar Special Sale because this way you get the NinjaTrader 8 Volume Profile pack, which is way more advanced than the MT4 Volume Profile indicator.
Q: I usually trade with Price Action, will this hamper my trading techniques?
Volume Profile is a great addition to Price Action. I show this in detail in my book:
VOLUME PROFILE: The Insider’s Guide To Trading
Q: How would I scan for applicable setups? You can theoretically review all of the major forex pairs daily, but that would not be possible for stocks.
I would pick only a few stocks so you aren’t too overwhelmed. Pick big company stocks you feel comfortable with. Or, you can trade stock indices. Those work really well with Volume Profile!
Q: Do you think Value area is not useful? Because it seems like you don’t use it and even your indicator doesn’t include the function.
I have never really found it useful. That’s why it is not a part of my indicator.
Q: Do you have to have NT’s Order Flow package for your VP indicator(s) to work?
No, you don’t need to buy NT package. Just get their NT platform (for free) and use my Volume Profile Pack with it.
In the end, I would really like to thank you for the kind and positive feedback and messages I received after the webinar. Thanks so much, guys, it means a lot to me!
Happy trading,
-Dale
P.S. Here is the recording of the webinar in case you missed it:
Thx for your comments Dale. I shall try volume indic. trial version.
1. I was part of the webinar. I’ve been wondering what typically your intra-day and swing set-up strike rates are on average over a period of a specified time. This isn’t that I doubt volume profile, no. I’m quite attracted to it and just needed more attraction.
2. I am confused on standard stop loss and the other. If market comes to your stop loss, it takes it out, but you say market reaches there and does not trigger it. Is one the actual one calculated from strategy and the other is the one you add some pips to take care of slippage and some stop hunting? Kindly explain the aspect of stop loss you were talking on during the webinar.
Hello,
over the long term, it is around 65-70%. If you shoot me an email I can send you the stats.
You got it right the SL that I do not trigger is the one I created using the strategy (SL in low volumes). To this SL I add the 50%. That’s a really good question, thanks!
Hey dale,
I would like to know some real statistics about the swing trades :
how many swing trades were triggered on every month ?
how many days does every trade last ?
what was there RRR ratio ?
please email me.
I don’t know your email 🙂 Please send me an email to contact@trader-dale.com
Hey dale,
I would like to know some real statistics about the swing trades :
how many swing trades were triggered on every month ?
how many days does every trade last ?
what was there RRR ratio ?
please email me.
I don’t know your email Mike. Please shoot me an email to contact@trader-dale.com and I will send you the stats.