Can market profile help scalpers?

I have been specialising in plotting 15 minute profiles made up of one minute data. I am currently formulating a strategy, but there is something in it.

My system will have, in my opinion, the essentials of any system:

- always on the right side of a breakaway trend
- no set profit target to limit those rare but exceptional gains
- very defined stop loss points

The problem is getting through the choppy times - but I think that is something I may have to live with.
 
In my opinion one of the best tools to scalp with is a background in MP. The best way to scalp is to set up with an ordering platform that plots horizontal volume. I use Tradestation's matrix. I am sure there are others. The session price distribution tells you all you need to know to scalp. Forget subscribing to MP.

I do not even look at charts. The matrix gives you everything you need to know and makes ordering quickly very easy using bracket trades,etc.
 
Quote from DTL Trader:

In my opinion one of the best tools to scalp with is a background in MP. The best way to scalp is to set up with an ordering platform that plots horizontal volume. I use Tradestation's matrix. I am sure there are others. The session price distribution tells you all you need to know to scalp. Forget subscribing to MP.

I do not even look at charts. The matrix gives you everything you need to know and makes ordering quickly very easy using bracket trades,etc.
More...

you mean tape reading?

people are saying read the tape here and there but no one has ever actually...tells how or what to look for in tape...

:confused: :confused: :confused:
 
Well I don't call it tape reading. I watch for development of a mean distribution and trade it.

I do watch for size to come into the bid and ask via the time and sales.
 
Quote from hanzahar:

you mean tape reading?

people are saying read the tape here and there but no one has ever actually...tells how or what to look for in tape...

:confused: :confused: :confused:
More...

Perhaps 10% of the membership here actually trades, just a thought!
 
I was a student of Pete Steidelmeyer and Robin Mesch, and IMO Market Profile is one of the more useful and applicable technical approaches to the markets. It is one of the few technical studies I personally know of where I have met and know traders who make a consistent living using the methodology.

My take on it is role which a time horizon plays in terms of a market accepting a particular price (how quickly a marketplace accepts or rejects a new price). It has really influenced the way I view markets. I get paid on price, not volume, so I personally pay much more credence to the time factor versus the price tic count or volume traded at a particular price level.

MP is the cat's ass.
 
hanzahar,

MP can be used to scalp. The Intra Day volume value area highs, volume value area lows and volume point of control can be key turning points. But you have to learn how to read order flow to time your entry.

The low volume areas of the previous days also provide great S/R but again, you have to read order flow to time your entry.
Personally I use a footprint chart and cumulative delta candlesticks.

I posted some charts a few month back in the market profile thread started by "They"

Good luck.
dVL
 
hi guys

i know its being a while since last post on this thread.

any update on using MP to intraday scalp EURUSD?

best
 
You must log in or register to reply here.
Back
Top