Hi everyone I hope you well. Could anyone recommend any good books or resources to learn TPO? I did watch alot of videos about it but I would like to learn more about it. Enjoy your day to whoever is reading this.
Thanks for your kind words. Been through Time Price Opportunity, I’ve read Dalton and Steidlmayer about it. However I’ve never found my edge this way. You might check Axia Futures on Youtube, They aren’t focused on market profile, But you might find something. There is another guy … Future Trader 71 that went on “Chat with traders”. Nice day to you. Edit: By reading your other posts. You should definitely check Axia Futures on YouTube. They are into orderflow, footprints & Co.
I've found volume profile much more helpful than TPO. James Dalton is the go to guy for TPO and FT71 I believe uses Volume profile. If you start thinking about buying Axia futures course you can get it a lot cheaper from https://coursetobuy.net/. I bought the Axia courses and I found them mediocre at best.
You may want to check out 'Mind Over Market' Jim Dalton, the author was a real pioneer in this area, this book is older but still just as applicable today.
Tradingriot has good introductory content, a lot is free, the paid is reasonable and offers good value. Axia's is deeper and the courseware is more structured and a more thorough. They do offer strategies that provide edge, but it's requires work to build one's memory to see these unfold in realtime. Volume Profile at 30m TF is essentially Market Profile. With the various software offerings, one can overlay candles unto the profiles which makes a good bridge in understanding associations and the ability to easily adjust settings provides clarity. Here's an Exochart example; Unfortunately, Exo doesn't have datafeeds for Tradfi, but it is on the roadmap. Sierrachart has high marks and most likely others that I've yet to discover.
I've bashed FT71 before, so I won't repeat it again here, but a thought crossed my mind about all of this trading help and courses. It seems to me that whenever someone wants to sell you something, they usually start by showing you the result. With skin care, you clearly see the before and after pictures right up front. Same thing with fitness workouts. You get a taste of what's in the program, the type of exercises, and then pictures of body transformations, mostly fake maybe, but sometimes real. Even kitchen gadgets have to be sold with a live demonstration of how awesome this thing will be at saving you time in the kitchen with your chopping or dicing or cleaning, etc. But for some reason, with trading, we are expected to do a full, in-depth study of some trading method with no reference to results. Obviously there are enough people claiming I can make $1000 per day right off the bat, but there is hardly ever a demonstration. Its never both together, like this is what I use, here is how I use it, and here are my results. For once I would love to see a simple collection of 10 random trades, with charts showing the setup, the way it looked right at entry, and then the result, whether win or loss. Is it so hard to start a trading course like this? This way you could very quickly ascertain if your results match what you should be expecting. So the conclusion always is that whatever you're going to learn will at best give you a 50% chance of making money, and its up to you to make it work, likely with other stuff you will have to piece together yourself. No matter how juicy a high volume or low volume node looks, or how obvious that point of control is, sometimes its a magnet, sometimes it pushes price away, and sometimes price will slice through it like its not even there. And how did the person trade it? Good luck on seeing their trades... LOL