|
Quote: |
|
 |
|
|
Hi DarthTrader,
I gave the marketdelta (at the time it was called IRT) footprint and MP charts a good hard try. I stuck with it for just over a year. I totally agree with notouch above stating that the marketdelta website is overly simplistic and he is trying to sell it like some sort of 'no brainer' system. The original market delta Trevor sold even had those fancy buy/sell arrows that really boosts sales. He makes it sound like you just buy when the column delta is green and sell when the column delta is red. That sort of trading will make you broke in a very short time. Very often you can get extremely high/low delta readings but it is passively being absorbed.
I also find this level of detail is more confusing with a heavily arb'd market. You can get a more generalized view, and I believe more useful view with a simple net buy/sell summary per bar. In marketdelta they call this volume breakdown indicator.
In closing, after trying hard to make the marketdelta tools (primarily the footprint charting) work for me, I had to admit that it wasn't adding to my bottom line and was instead hindering my performance by keeping me off many really good trades. I like the concept and the theory but could not turn it into more $$$s in my account. Because of this, I dumped it last month and switched over to neoticker to pursue a simplier version of what I was doing with market delta tools centered around the same theme -- supply and demand.
Best regards,
MK |
|
|
|
|
From my observation from various sources, I get the impression that the Bid and Ask data have to be analyzed in 30-minute aggregates similar to a TPO.
Anything smaller in the 1-minute,3-minute , and similar tick increments seem to reflect a lot of the Arb activities