Learning Market Profile
- Thread starter bathrobe
- Start date
it doesnt happen often but always a possibility,takeovers in equities,an index is a little easier because of all the components can offset an upset in 1,for that reason it is hard to use in equities,and the narrow range they might trade everyday,although goog or morgan stanley,gs,all have good daily ranges
Cisco is ok.
Don Jones is a hell of good guy, but the best learning will come from Jim Dalton, who wrote Markets in Profile and Mind over markets.
He and Terry Leiberman have a site called DLC profiles. They charge a yearly fee for weekly updates, webinars, etc.
They are decent people, good teachers of profile, and the learning is good, but slow.
There is nothing fast about learning the intricacies of understanding profile data.
look into it.
DLC Profiles.
Terry owns a product called windotrader which is software for profile analysis
Don Jones is a hell of good guy, but the best learning will come from Jim Dalton, who wrote Markets in Profile and Mind over markets.
He and Terry Leiberman have a site called DLC profiles. They charge a yearly fee for weekly updates, webinars, etc.
They are decent people, good teachers of profile, and the learning is good, but slow.
There is nothing fast about learning the intricacies of understanding profile data.
look into it.
DLC Profiles.
Terry owns a product called windotrader which is software for profile analysis
For me this book was a tough read. The first 60% is deep examples of markets and how they work, but not "the" market.
One I got to the meat, I was quickly lost. I hope to one day get a full undestanding of the profile charts and use them live during the day to make decisions. I know there is something there, it is just too complex for the first go around.
I have no issues understand how the charts are created and the bell curve, but how to understand how to take a trade based on intraday price levels is another thing.
If someone can quickly and easily enlighten me I would love it.
3 rules, 2 patterns, 1 indicator is all you need
http://elitetrader.com/vb/showthread.php?s=&threadid=127338&perpage=6&pagenumber=1
Took a look and I am more confused than before. I understand the concept, but I do not see how you get in a trade. Ok - lets say 813 shows me it was rejected in price and we move back up to 820 - so now I wait 3/4 of the day to see if we get back to 813 and hope it rejects again?
How is this information applied in realtime?
u short 820 and cover at 13,with a stop at 824 ,1 point above the 823 nip,its not like the rest of the indicators,momentum,overboght,sold,it just shows where its trading at the moment...its clear and fresh and works independantly of the rest of your data,its useful in a lull or a trend,if it broke 24 you would expect it to go to the next nip or cleavage for resistance
You barely understand more than 1% of the MP knowledge. MP is about how to read the market. How you take a trade is based on the strategies you develop from what you learn from MP. To get a solid foundation on MP, I strongly recommend to study James Dalton's classic 'Mind Over Market'. He uses the concept of auction market to illustrate how markets work, describes several methods on how to use market profile, and offers insights for creating your own trading strategies. If you intend to look for simple mechanical setup, MP is not your cup of tea.
