Trading with Market Profile

Personally, I don't actually use "letters" based MP charts any more as most of my trading focuses on Volume Profiling.

But, Plotting, graphing, studying, it all helps! However you need to create price or volume distributions, do it. The info you begin to glean from viewing market behavior in this way will not be in vain.

There are alot of knowledgable traders on ET who use Market Profile (dual auction market) theory and who have done a lot of creative things with it.
Topgunsoftware is an example.
(I' don't use his product myself but he has nicely represented a lot of important statistical information in a quick and easy to read format)

My trading has benifited greatly from my journey from Market Profile to Tick Profile to Volume Profile I think your's will as well. The only people I have heard from who feel they never got something out of studying dual auction market theory (MP) are the same people who think that their trading edge is their setting on the CCI or stochastic indicator. In other words, MORONS. Don't get me wrong, I appreciate their input and participation in the markets and I am always trying to be a nice guy by helping them out. When they want to buy I like to help them out and sell to them and when they like to sell I like to help them out and buy from them. You could say that it is my slant on "traders helping traders"

They
 
Hi They,

Many thanks for the explanation. I was reading your post with great concentration, pen in hand and note book all ready to take notes, and then I got to the "Moron" word and I just exploded with a good laugh.
They, in forex its hard to find volume and I really want to start this spreadsheet soooon,(by the way I did get your point about volume and topgunssoftware) can I just use the range on the 30 min chart and do it the way you had at the beginning.

I am very tempted to start trading the euro/usd forex futures contract at the cme I think or where ever its traded that way I will be able to start using MP properly.
Thanks allot
Email
 
I'd like to point out something interesting I found today. In this afternoon's trades about 20,000 contracts are net long from about 1192.75 to the high. There is also a lot of volume at 1190 - 1190.75 area and a little at 1187. If we break 1192 tomorrow there's a great low risk quick move down to 1190 area. If we open above 1192 I'll be buying the 1190 area for a quick scalp and will scale in around 1187 as well. You can see from this <a href="http://www.topgunsoftware.com/marketprofilejournal.html">volume based market profile chart</a> that there are a lot of traders net long over the last few hours. Volume overall today was just a tad above average. Hopes this helps some of you in tomorrow's trading.

<img src="http://www.topgunsoftware.com/elitetrader/volumeprofile011805.gif">
 
I know that They you have developed your market profile techniques further, but i have bee trading the simple market profile uva and lva and poc for three years and i believe in the kiss approach---- keep it simple stupid. i have never had to dig deeper. The system seems to have very profitable setups three out of five days ( the other two days just hang tight and wait for the next day, most people can not do this)and i never do any changes intraday.. Just wait for the numbers to trade off and they will come. Look at todays dow poc of 502 road it down. and then that 465 overlay number from cisco futurs and rode it up. Then i was done for the day. These patterns repeat themselves over and over. Although I would say that the dow is even easier to trade with these numbers. They thanks for turning me on to this and directing me to websites that help.
 
Does anybody know if James F. Dalton (Mind over Markets) has a web site? And if so, what is the URL.

I notice that Eric T. Jones and Robert B. Dalton co-wrote the book with him. I assume that Robert is a relation of his and I've heard that Eric's son runs the cisco MP web site.

Does anybody have any more information on these gentlemen and the web sites or services that they may be running?
 
They,

I was wondering whther you could kindly recommend a good book that describes the nuts and bolts of volume profile. I understand the Dalton book "mind over markets is about market profile but its "volume profile" that I am interested in. I would be grateful for any leads you could mention. Thanks in advance.


best regards,




Andrew
 
Quote from peugeot205:

They,

I was wondering whther you could kindly recommend a good book that describes the nuts and bolts of volume profile. I understand the Dalton book "mind over markets is about market profile but its "volume profile" that I am interested in. I would be grateful for any leads you could mention. Thanks in advance.


best regards,




Andrew
More...

the cbot handbook has a section on volume profile that goes alongside the mp if thats what you mean - no url cos im busy - sorry - but its easy to find - cbot.com -> education -> mp.....


i dont think it warrants its own book - price is more important
 
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