Market Profile

Here's a nice look at the MP Bund Chart in eSignal 7.9.1 Beta. It has some unique features with it like a TPO summary at the top of each distribution.

Bund_MP_Example.png
 
Quote from Nana Trader:

Market profile is the hardest trading tool that anyone
can learn, and i still don't know to use it.

There are many STUPID educational material in CBOT site
that non them them explain MP in easy few pages of simple
language.
Hum, may be there is no right way to apply it like most
other indicators :confused:

http://www.cbot.com/cbot/pub/page/0,3181,1186,00.html
http://www.cbot.com/cbot/pub/page/0,3181,1184,00.html
More...

Just because YOU can't understand it doesn't make it stupid. Auction market theory (which Market Profile is based on) requires study and effort. It's not an indicator with a green dot for buy and red dot for sell. It's a tool to understand market condition and for assessing probabilities.
 
Quote from easyrider:

Why not go to the horse's mouth?

http://www.amazon.com/exec/obidos/A...7/sr=2-1/ref=pd_bbs_b_2_1/104-2225888-4095910
More...

that is a good resource, but i really got a lot more out of:

http://www.amazon.com/exec/obidos/t...1/103-6912069-8613434?_encoding=UTF8&v=glance

and

http://www.cbot.com/cbot/docs/handbook.pdf

as for ease of learning and application, it's like anything else - it takes time and the right mindset. MP'ers swear by it. E-Wavers swear by it. Fib, MA, MACDs, RSI, and so on. price. volume. it's all learnable and can be successful.

for me, i see how loyal price is to MP. is it 100%? yeah right. do i take 100% of it's signals? nope. are signals typically correct and movements within a few ticks of the signals? yes.

i'm still new to it, but i see the benefits. i still have to further aquaint myself with it and adapt it to my trading personality, but it's working for me. it won't work for everyone.

hope this helps and gtty.

take care -

omni
 
I think understanding auction market theory is essential no matter what methodology you choose.

Mind over Markets is an excellent way to begin.
 
Thanks Runningbear & JayF, I have considered esignal despite reliability issues highligted in various forums on ET.

Have any of you heard of a software package that plots MP and allows you to input price action manually or hook up to a live/delayed feed?

As for MP itself, I try not to get bogged down in all the book stuff and CBOT gumpf, instead I simply use it to explain intraday price action over time. After all, as an accountant once told me "what you measure is what you get"

Peace Love and Profits to you all.
 
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