For all you Market Profile traders out there did anyone catch Jim Dalton's presentation at the Futures Trading Summit? What did he talk about?
There is a post on the Futures Trading Summit here: http://traderfeed.blogspot.com/2006/11/few-more-insights-from-futures-trading.html
Hi, I presented at the Futures Trading Summit and made sure to attend Jim's talk. He did a nice job of explaining Market Profile as a conceptual tool and illustrating its application to actual markets. The most important message he delivers, IMO, is that it is not enough to look for chart or oscillator setups. You also have to be aware of the context in which these are setting up. The profile provides a graphical representation of whether markets are facilitating trade (growing volume) as prices move away from value. If so, we have the makings of a breakout and the establishment of a new value area. If not, we have a reason to expect mean reversion--a reversal back to value. Knowing whether or not we're in a trending environment is, for me, the central question of intraday trading. The Profile helps traders understand *why*. For that reason, I find it a useful training tool. Brett