A Journey into Market Profile

Status
Not open for further replies.
Quote from guy2:

Excellent thread omni!! I haven't had a chance to read all of it yet but what I have seen shows that you're making a large commitment to helping everyone here progress with Market Profile. Keep up the good work!!
More...

thx for your support guy :D

historical note: it was here at ET and posts by guy and They (http://www.elitetrader.com/vb/showt...page=40&highlight=market profile&pagenumber=1) where i first read about Market Profile. so thank you guy - it's given me a lot clearer direction for my trading. i'm still learning and adapting, but now i know how i want to get where i'm going :)

take care -

omni
 
Quote from omniscient:

thx for your support guy :D

historical note: it was here at ET and posts by guy and They (http://www.elitetrader.com/vb/showt...page=40&highlight=market profile&pagenumber=1) where i first read about Market Profile. so thank you guy - it's given me a lot clearer direction for my trading. i'm still learning and adapting, but now i know how i want to get where i'm going :)

take care -

omni
More...

You're welcome omni but 99.9% of the credit goes to They for that thread. :)
 
charts:

http://charts.dacharts.com/2005-07-12/

still trading SIM while i get my accounts squared away. looks like i'll be going live again Monday.

kind of a reverse of yesterday:

1. yesterday we took off early and rotated for the remainder before finishing near POC; today we rotated and took off later only to rotate back down to POC area

2. extreme lower end established very early; extreme higher end established very late today

3. yesterday was a pretty decent "p" with a minor secondary concentration in the lower half of the range; today was a decent "b" with a secondary concentration in the upper half of range

i made some decent trades today. i also traded some on the DAX and EC during the overnight. i'm monitoring these two for possibly adding to my instruments traded. i still focus on the ER2 (and will), but may eventually want to expand my focus.

take care and gtty -

omni
 
charts:

http://charts.dacharts.com/2005-07-13/

today was more my style - decent range but not a lot of decisive direction. this allowed me to take longs and shorts as the market floated up and down.

opening near PDC and POC with very little overnight range, i felt it was kind of a toss up for opening direction. given a 4-tick 1-min open range (and only 1-point between 9:26 and 9:31) on light volume, it seemed like i wasn't the only one waiting for an indication of direction.

i went long at 72.2 since we were closer to the bottom of the overnight range. i sat through a 1.5-point V-rotation (73.7 down to 72.3 and back up). i covered and reversed near VAH (74.2). again, i sat through a rotation from 72.7 up to 74.0 before exiting at 72.20. i then sold again at 72.20 and covered at 68.80 (which was near S1). that was a pretty long position for me (about an hour).

i made a couple other plays around the same 68.8 area (long 669 to 670.5 and 668.7 to 670.6, each about 15-20mins) later in the day, but also churned my account a bit during the morning. i kept close stops and close targets given the relatively tight up-and-down action we were seeing.

basically i made those four nice trades and about 10 other trades that washed (after fees, they would have had slightly a negative net effect).

IB contained upper extreme. IB didn't hold lower extreme, but was very thin after the 3-tick IB break. overnight range was paltry as was any opening gap play. there is a ton of room to fill in (including several patches of singles) between 68.40 and 55.40. little bit of a ledge at 68.8. closed not too far off from POC.

take care and gtty -

omni

BTW: reminder that this was on my SIM account. live trading will (hopefully) resume Monday.
 
charts:

http://charts.dacharts.com/2005-07-14/

failed retest of 2-day HOD and weekly R1. IB contained upper extreme. very little vol above 72.7. broke S1 (later became a resistance area) and S2. S2 made a nice long entry. ONH contained upper extreme to within 1-point. HOD made very early in morning. no attempt to retest HOD later in the day. selling POC (became functional resistance line in E-period) or VAL made for nice plays. selling PDL was also relatively low-heat. filled some singles from 10-ODC but still many, many to go.

7 14 VA:
VAH - 69.9
POC - 66.5
VAL - 64.1

take care and gtty -

omni
 
charts:

http://charts.dacharts.com/2005-07-15/


VA info for 7/15:

VAH: 665.0
POC: 662.8
VAL: 660.6

after the weak attempt to test ONH, made a play off VAL. looking for S1 or better. found S1. no reversal. why? dunno; working on that question.

later, several long opportunities. S1 was also DVAL. then came DPOC (around 62.8). steady TRIN break starting at 2:15 (between 63.0 and 64.0 on ER2). then came VAL / DVAH (64.0). then came IB-H (65.5). then came POC (66.5).

as i'm still getting familiar with the TICKI, i believe i saw buy programs at:

14:18
14:24
14:31
14:39
14:51
14:59 (smaller)
15:22 (smaller)

buy programs or not, after plodding along from 13:08 to 14:17 in a tight 62.5 - 63.4 range, the ER2 popped up to 664.4 at 14:18 on volume 20x the previous minute and more volume than seen between 13:52 and 14:17. of course i'd like to be able figure out / understand what precipitated the surges, but it was really only academically relevant; i should have already been long from S1 or at worst DPOC.

take care and gtty -

omni
 
Quote from mtzianos:

Omni, why don't you drop by the (free, open) MP (#marketprofile) room at IRC/Othernet (IRC is an open Internet protocol, like SMTP and POP, that exists for over a decade)?

http://www.othernet.org/
(There are tens of other rooms with thousands of traders there)

Software to use:
http://www.mirc.com/

there are also other s/w as well as Java-clients that can be used to access IRC:
http://www.ircreviews.org/clients/
More...

mt -

thx for the heads up. i'll try to check out one or more of the rooms next week. do you frequent any of the MP rooms or just seen them around?

again, thx for the recommendation.

take care -

omni
 
Quote from omniscient:

do you frequent any of the MP rooms or just seen them around?
More...

Sure, I'm logged-in IRC during RTH.

There's just 1 MP room called #marketprofile and it's been mostly inactive since fall 2004.

I have mirc to automatically join several channels (#bondtrading, #emini, #pitstock, #t1 -this is run by Guy2 who responded a few posts ago and maintains a singles journal- etc)
 
charts:
http://charts.dacharts.com/2005-07-18/

numbers for 7/18:
VAH: 63.20
POC: 62.60
VAL: 60.60

O: 64.6
H: 66.6
L: 59.5
C: 62.2

R3: 73.10
R2: 69.90
R1: 66.00
PP: 62.80
S1: 58.90
S2: 55.70
S3: 51.80

TICK:
VAH: 579
POC: 201
VAL: -329

TRIN:
VAH: 5.85 (1.46 functional; skyed to 8.70 in first minute and stayed below 1.81 for the remainder of day )
POC: 1.11
VAL: 1.01

notes: TRIN's and TICK's magnetism to POC. 3-tpo ledge at 63.80. VAL long worked twice with low-heat. sell DVAL worked with low heat. ONH + 7-ticks contained HOD. IB contained HOD.

take care and gtty -

omni
 
Status
Not open for further replies.
Back
Top