Steidlmayer - Dalton - I Thank You!

[pchan]

Quote from MarkBrown:

Sincerely Market Profile has to be the only choice if I were to be limited to one method to trade with. MP has to be the hardest thing to learn other than selling premium. Many know and for those that don't I have at my disposal every trading method there is. I will declare MP is not a waste of time but unbelievable in terms of what it can give you back for your efforts to learn it.

Thank you Dalton for making it understandable where I could learn to master it. How long did it take you might be wondering? I looked at it for 12 years of those 12 it took me 3 years of piddling with it and a cost of about 75k lost trying it. Note I was trying other methods during this time so it was not my sole focus. I like many thought it was interesting but not a complete method.

It finally hit me one day and over the course of about a year i refined my money management and never looked back. For the first time ever I can say I could stand in front of an audience and trade with nothing else but MP and would not be embarrassed to have someone watch what I do. I am that confident in what I proclaim.

It's simple the market either cycles or it trends you have to learn how to read the MP it will tell you what the market is doing. Other than that you must be a business man and understand risk and the control of it. It truly is not trading it is just a business and if you have not succeeded at some type of business then you may have a harder time.

Anyway I am not trying to sell anyone on the idea of MP - there are many many ways to trade the markets - many tools. I just wanted to humbly say thanks to some guys I respect and now fully understand what they must understand.

Mark Brown

Ditto Mark and well said.

 

[Jerkstore]

Are any of you familiar with Steidlmeyer's cap flow software? It creates the MP charts, plus a few other cute little indicators.

I had a meeting with Pete's cap flow software people not too long ago. I was going to update the 8 bit and 16 bit ancient code that they use so as to automate and scale out the trading. They/he politely declined saying that they didn't feel comfortable opening their sourcecode up to another tech company, even with contracts in place.

Strange bird, that Steidlemayer. He'd rather create software that requires a trader to hand crunch numbers, and manually add in data resulting in a grand total of about 15 end users, rather than turn it into something that a hedge fund could use and potentially make millions off of it. All in the name of prudence against potential IP theft.

I am good friends with one of Steidlemayer's protoge types. Steidlemayer himself has backed this guy, to very consistent, low-risk success. The guy makes between 9 and 19% per year like clockwork. However, we are trying to take his trading from the $500K to $1 million in capital range into the $10 to $20 million range. We can't do that with the manual limitations of the software. I also think we could push 30% returns if the system automatically searched for trading opportunities instead of the trader manually crunching opportunities across a limited set of futures products.

Regardless, does Steidlemayer have ownership of the intellectual property which is MP and cap flow indicators? Is there another system that I could use to automate these graphs and indicators across all futures/stock markets.

Just curious.