Trading Doggy Style Starter Kit
You've Got to Start Somewhere
The goal of this “starter kit” is to help both free and paid subscribers get a jump start in their understanding and ability to apply my material. Both your experience and overall trading acumen should greatly benefit from reviewing this content, ideally before trying to understand my commentary in the Discord. My plan is to continuously update it over time and keep it linked in every post so as to be readily accessible.
There is both written content and videos included so be sure to click the links for the videos (including two above the paywall) particularly on the trade setups and execution considerations.
Commonly used abbreviations:
A super simplified (and free) series covering some of the most basic aspects of volume profile and market profile.
Simplifying Volume Profile Part 1
Simplifying Volume Profile Part 2
Simplifying Some Basic Auction Market Theory / Market Profile Concepts Part 1
Simplifying Some Basic Auction Market Theory / Market Profile Concepts Part 2
Simplifying Some Basic Auction Market Theory / Market Profile Concepts Part 3
VIDEOS
My intraday indicators and settings: Chart Indicators and Settings
A concept I will often employ at binary spots either intraday or on a swing basis in situations where I am looking to hold on to a trade for longer: Hedging the Edge
WHAT TO EXPECT:
LEVELS:
If you are a traditional technical trader, have you ever noticed that some days support/resistance are cleanly respected while other days price trades right through them as if they aren’t even there? There are reasons for this which are plainly obvious to good profile traders. While I am well aware of and utilize support/resistance concepts, most of my levels are not support/resistance. This is very difficult for traditional technical traders who are newer to my style.
Most of the trades I am looking for are short time frame reversal trades that take price back in the direction of the preceding high time frame trend. These are extremely powerful trades that can have serious range, especially if we first let one side (buyers or sellers) get trapped offsides. This is similar, but not the same as the failed breakdown concept that many technical traders employ.
DAY TRADES and SWINGS:
Day Trades:
I take far fewer trades than most traders as I am generally on the lookout for very big trades that have both a high probability of working and a high reward to well-defined risk.
Most days we will have very specific and actionable day trade setups that could play out either overnight or during RTH the next day. I won’t cover every single potential trade that could play out of course, but I am looking for trades that are high probability and high reward to risk. If there are no fantastic trade setups readily apparent the night before, or if there is some major binary event premarket, I may just provide some general commentary around the levels in the plan.
From there I provide an update in the Discord in the morning, often more than one. If one of our trades is already active, or triggers early in the day then much of my intraday commentary will be trade management as opposed to new trades. If one of our setups has not or does not trigger (or if we didn’t have any planned) then I will usually find us a good trade to take intraday. I will very often identify this quite a bit ahead of time so we can all be looking for it. This may be an opportunity to join an active trade of ours if trend continuation is likely, or it might be a completely different trade.
SWINGS:
Some swings will be planned ahead of time. Some will have a post or a video or be posted in the Discord swings setups room. Naturally those which are planned ahead of time are more likely to be big successful trades as we all perform better with preparation. However, there may be trades that present without planning. These I’ll often start with smaller size as I initially enter them and then look over the chart more closely later in the day or after the bell. I post entries, adds, take profits and stops in the “Pharm Trades” Discord room. Sizing will often depend on the probability of the setup and the volatility of the trading instrument (a low volatility dividend stock vs a higher volatility growth stock as an example will have a material impact on my weighting).
Continue reading below for:
Common Trade Setups (Video)
Context and Timeframe Continuity vs Conflict
Developing an Early Session Bias-includes one of my favorite “hacks”
Executions (Video)
Profit Taking and Stop Management