Market Profile

Discussion in 'Technical Analysis' started by Lorl, Oct 21, 2007.

  1. Lorl


    I am on a mission to improve my short and longterm trades, and it's looking like learning Market Profile may be one good way to do that. My preference is always to move toward improving my skill at trading via pure price versus adding another (lagging) indicator.

    Primarily, I trade the eMini futures indexes. If anyone has experience with Market Profile, here are my questions on the subject...

    1-I'm looking at which course to take to learn the basics. Any suggestions?

    2-Does anyone have experience with the $125 course offered by
  2. ZAL



    TradeMaven Inside Edge offers free MP classes every Tuesday at 3.30 p.m. Central Time.
  3. Yeah and the classes are taught/pimped by someone who doesn't even trade. hmmm
    To use the tools they offer runs ~$300-$400/mo. Have fun with that.

    Market Profile is but one tool in auction market theory. It's not a system, it is a way to view price action in the context of the market condition. Read Dalton. Read Dalton again. And when you're done, check out Dalton.

    Don't forget Steidlmayer.

    You don't need to pay $300-$400 a month for that. Shell out a few $$$ for some books and lots of your time for studying.

    Don't be fooled by these morons offering "Inside Edges", and all that crap. If they could trade what they are teaching- they wouldn't be a little punkass broker.

    Learning MP, (and more accurately/importantly, AMT) is a heuristic process. You learn the theory and figure out how it works for you. No end all be all system to be had in that game. Be prepared to work your ass off or save yourself the trouble and stick to squiggly lines (which can still do pretty well if utilized "properly").
  4. Get the book "Steidlmayer on Markets: Trading With Market Profile."
    Well worth the price.
    I have a friend who is a professional pit trader. That is the ONLY book he has ever recommended that I read.
  5. ammo


    the widespot or point is the nip,then the high and lo are top and bottom of the boob,if you get 2 nips then the gap between is the cleavage,it acts like s/r same as the nips,draw it by hand for 2 months using 1/2 point marks,put them on graph paper,when we move back into previously traded zone from previous days,the nips act as s/r,thats all u need to know,u will in my opinion be better teaching yourself,they've added a lot of useless knowledge to make it seem highly intelligent,it's not,it's extremely simple,thats the beauty of it,when hand charting u will eventually know where the next letter is going,best way to learn,i learned it that way and it was working for me and guys who took the class told me not to take it because my results were much better
  6. I agree with some of your points - learning AMT is very helpful but does take time (took me about 3 months in the IOAMT room). I will say that I DO like the new TradeMaven tools (with cumulative delta tie ins) but they are WAY overpriced imo - $59 to $79 a month would be a fair price (just my $.02).

    Tracking and analizing "order flow" to see who is IN CONTROL (and where they are in control from - what price levels) is the key for my trading and the TM tools are a decent attempt to package those concepts together for trading. Nothing is a holy grail though and a trader needs to understand AMT to pick the most optimal entry points each day.
  7. ZAL


    Market Profile is a depiction of time, price and volume. It defines the true auction process of a market.
  8. Yeah definitely not saying the tools from TradeMaven are worthless ...just that you can find similar solutions for MUCH cheaper. Damn those fees are ridiculously and I mean RIDICULOUSLY overpriced. They just offer tools, which like I said, you can get a similar solution for much cheaper.

    And BTW, I have heard Duryea is definitely knowledgeable.
    One of the veerrry few vendors I'd spend time on. I haven't, but if I had to pick one, it would most likely be him.
  9. G-Boa


  10. ammo


    does anyone know of free mp daily graphs besides charthub
    #10     May 15, 2008