Expert Designation I consider myself an expert when I make my 4/32nds a day. When I don't I'm a goat. As you know, trading is discretionary and different people use MP in different ways. I start my daily MP analysis on the TM F1 chart, which is a monthly MP. I mark off the highest volume and the lowest volume on the screen. The volume histogram on the right side of the F1 chart has 360 days of volume data. High volume is an attractor. Next I move to the daily MP chart - F2 in TM lingo. I do the same volume analysis only this is now 180 days worth of data. I look for areas of confluence with the F1. Then I look to identify where the current distribution began and combine each daily distribution from that point forward. I then match the data from the last 180 days with the current distribution, that which is most recent in the market's memory. The final piece is what happened yesterday and in the overnight session. At that point, significant high and low volume areas should be evident. The explanation on how high and low volume areas are used is in the first couple of pages of our post on the 3-2-1 Methodology thread. The monthly profile should show you if the market is moving higher, lower, or consolidating, setting your expectations for the coming day. I post Charlie Cochran's buy or sell preference as soon as TM tech support gets the chart loaded into the TM server. I typically do my own analysis and match it against Charlie's. I take retest failure trades, preferably at a key level, and shoot for 4/32nds a day with multiple lots. This is just a broad stroke overview of how I use the profile. If you'd like a more in depth description or if you'd like to exchange ideas on the most effective use of the profile, just e-mail me your phone number and I'll call you after the close on a day that works for you.
Sorry, but without proof, Cochran and MP remain useless until proven otherwise. Endorsements and praise mean nothing. The market takes almost everyone's money. Unfortunately, this is a case where being a sponsor renders your praise as highly suspicious
i use market profile in my trading but in very small time frames primarily for entries and reversals of trades in some automated trading systems. so its a part of a bigger system not a system by itself. mb
A talker?............he's only posted a mere (7) times in 2 years while you've posted THIRTY-THREE HUNDRED TIMES Can YOU make the distinction? What about the distinction between quantity and quality?
What is meant by retest failure trades ?, can any one explain it with a chart.It would be helpful to comprehend it easily. Thanks.
Ok I'll bite. What kind of proof are you looking for? MP isn't a system or an indicator it is a methodolgy. So how would it be "proven"?
Given your vast experience with Market Profile I would like to ask you to please recommend a comprehensive training program. And, I would like your opinion as to what MP software you most recommend? I currently use Trade Navigator as my trading platform. Best regards, Florentino Vela