joab are you talking about the fluid supp,res in non minute timeframes where we tickle and pull away and retouch and break,the kind you remember intrady because you made trades there and the congestion areas from previous days and weeks,my memory isnt sharp enough to store and recall those anymore and the mp and tl's are a great tool to aid in that task
Only a complete moron would use Market Profile
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Wow that's exciting. But why should I expend mental resources trying to find tiny little s/r nuances in a bar chart when I can throw up a profile on another screen and have them jump out at me?
Neither one of us are wrong, it's a matter of personal preference. Different strokes for different folks. Seems we have at least a few things in common with our trading method, but there is no need to bash MP, especially if you use it yourself. It's not the end all be all but it's helpful to me in conjunction with my main execution methods and that's all I really care about.
For my own trading, MP misses out on a few important S&R "tools" that are used in addition to typical S&R.
I've got to agree with Joab on this. I've always seen MP as a complicated approach to what I do. The chart isn't going to lie and that's what most traders use.....so that should be a hint (not to say most traders are good).
But if it works for you it works for you. MP is a good tool just like a lot of other things and it does work.
I've got to agree with Joab on this. I've always seen MP as a complicated approach to what I do. The chart isn't going to lie and that's what most traders use.....so that should be a hint (not to say most traders are good).
But if it works for you it works for you. MP is a good tool just like a lot of other things and it does work.
LOL
The way I use Market Profile is to watch the pattern as it unfolds
during the day. I am looking for a bell curve that is incomplete and then I put on a trade that completes it. Its useless on trend days. Its also tough with 24 hour trading. You really have to watch the patterns unfold for around a year before I would make Dollar trades on it.
during the day. I am looking for a bell curve that is incomplete and then I put on a trade that completes it. Its useless on trend days. Its also tough with 24 hour trading. You really have to watch the patterns unfold for around a year before I would make Dollar trades on it.
Personally I have found Market Profile to be rather helpful for a one or two day position. If coupled with Volume numbers it has its merits but I have never been able to find it a sole way to trade successfully.
Debs
Debs