Market Profile Plus by bolter

Status
Not open for further replies.
Quote from rshuhart:

Bolter,

How is it that the ES mp numbers (UVA, POC, LVA) you gave are all below yesterdays close. How can that be?

Thanks,

Ryan
More...

Ryan, I'm still learning MP but I can attempt an answer. The close on 2/8 represented a range extension that went above the Value Area (UVA POC, LVA) for that day, therefore, the close was above all the numbers.

I humbly suggest you consider reading more about MP, try "Mind Over Markets" by Dalton.

I only picked up a total of 1.25 points today on two trades. First was long entry at 1271.75 15 min. after the open, with a target of 1277. It hit 1277, but I was distracted and didn't sell. I watched it go down and decided to get out at 1272 for a .25 point win. Then as the market sold off I went short at 1267.5 and covered at 12.66.5 for 1 point. Total for my first 4 days of daytrading index futures is 18.75.

I continue to slowly wind down my equity swing trades....been doing that successfuly for several years so its a hard habit to break....but index futures are are much cleaner to trade in my opinion. It's probably safe to say that if I wasn't watching my stock swing trades I would of had a better day today.....woulda...coulda....shoulda......not a good excuse I know. I probably should close all other postions and just focus on one market while I learn MP. My meager point gain today had nothing to do with the market, it was completley my own responisbility. I never blame the matrket.
 
Quote from rshuhart:

Bolter,

How is it that the ES mp numbers (UVA, POC, LVA) you gave are all below yesterdays close. How can that be?

Thanks,

Ryan
More...

today you will see the opposite - the VA will be above the close. in fact, today's profile will look more like a "p" whereas yesterday's profile looked more like a "b" (though not a true "b" as the curve essentially had a dual distribution).

what happened, yesterday and today, is that when the market broke away from Value established intrady, it did not have enough time (in RTH) to continue building value in the new area.

compare the RTH for the ES today:
ES_RTH_02092006.GIF


to the 24hr ES:
ES_24hr_029092006.GIF


in the 24hr profile the ES has had more time to continue building value away from value established earlier in the day.

hth

take care :)

omni
 
So, the best game plan for tommorrow would be to sell pull backs to VAL, and add more at POC with a stop just above VAH?
 
Thanks again Bolter. I understand what you're saying about having a bias and then using S/R from MP to buy pullbacks or sell rallies. I re-read some of your posts which helped.

Omni, thanks for your suggestion. I will look into it.
 
omniscient,

Excuse my ignorance for a moment and allow me to make sure I undersand your charts.

The blue bracket represents the value area, with the UVA and LVA market horizontaly, and the white box is the POC.

What does the Pink bracket represent?

Also, what software are you using?

Ryan

p.s. I just bought dalton's book
 
Hi Master,
....great calls once again bolter. Hope you changed your bias after 2pm though.
More...
Thanks for that. Yes in fact I changed my bias at about 1:30 to .... slumber. I put a MOC trade on the ER2 and went to bed. Very nice surprise waiting for me when I woke up.

bolter
 
Quote from bolter:

Hi Master,

Thanks for that. Yes in fact I changed my bias at about 1:30 to .... slumber. I put a MOC trade on the ER2 and went to bed. Very nice surprise waiting for me when I woke up.

bolter
More...

Right on. Looking forward to hearing your predictions for tomorrow. :)
 
xxxskier,
It hit 1277, but I was distracted and didn't sell
More...
That was the second target level. You should have been well and truly out by stage. Don't get greedy. Once you've decided on a target send the order.
 
Status
Not open for further replies.
Back
Top