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MP for ES for Friday: [1165.50] HI [1165.25] HI [1165.00] GHI [1164.75] GHI [1164.50] GHI [1164.25] GHI [1164.00] GHI [1163.75] FGHIJ [1163.50] FGHIJ [1163.25] FGHIJ [1163.00] FGHIJ [1162.75] FGHJ [1162.50] DFGHJ [VAH] [1162.25] DFGJ [1162.00] DFGJK [1161.75] DFGJK [1161.50]...

Good idea. Journal thread is here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=49427

I will attempt to keep you updated with the forward testing that I'm doing on the Market Profile 'single print' strategy in this thread. So far 6 trades taken. Trade 1: Loss $420 Trade 2: Loss $420 Trade 3: Profit $980 Trade 4: Profit $980 Trade 5: Profit $80 Trade 6: Loss $420...

3 more trades on Friday: Trade 4: Profit $980 Trade 5: Profit $80 Trade 6: Loss $420 Cumulative Profit at close on Friday: $780

Cumulative profit on singles strategy as I type this is now at $140. Trade 1: Loss $420 Trade 2: Loss $420 Trade 3: Profit $980

This is a 3 minute chart of the ER2 showing the developing Value Area and POC over the day today (6 May 2005). All the lines are developing lines. Pink is DVAH, cyan is DPOC, and lime is DVAL. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=743779>

In the article that I mentioned earlier there is mention of 2 types of trader: 1. Random Trader 2. Signaled Trader The Random Trader is gambling (i.e. odds are not in his/her favor) and the Signaled Trader is not gambling (or is "the house") because the odds favor the Signaled Trader over...

Gambler: IMO (this is untested) you need to look at the charateristic of that RE. If the RE is a spike and the market quickly moves back into the IB then that is an indication that there is no new business beyond the IB on that side and hence a chance for rotation back to the other side and...

Many thanks for the kind words FuturesTrader :)

Ah - comprendo :) Yes - FOMC always creates havoc irrespective of the correlation with the consensus.

Sorry Geo but I don't understand the question...

I haven't tested the probabilities of the other setups but I'm working on a forward simulated test of the single prints and have set up rules and am documenting it during this month here and am using the ER2 as the trading vehicle.

Consensus is that the FOMC will raise interest rates by 0.25 to 3%

Is Day Trading Gambling?

Hi Ren and thanks for your valuable information. One of the most difficult things (IMO) about pivots is that they are very hard to back test. If you are to use pivots as reversal points and wish to back test them then where do you place your entry (in front of the pivot/on the pivot?) and...

Which markets do you trade? I think that the best expaination is a worked example in realtime but using day time frame data instead of the longer time frame data that I assume you use for longer term trading.

Is is possible for a moderator to repair the subject of this topic?

I'd like to say that "it's a free country - do what you want" - but I don't know what country you're in so I'll say - it's a free forum - say what you want. If you rise to the bait then you're the sucker not the person that baited you.

I agree - Elite is an excellent forum. thanks - i gathered as much

I am under the impression that most of these sites repackage material that is already available and already very popular so I doubt that you will have problems with copyright unless it's from the original author/book.