This is a thread to discuss the viability of Market Profile. And of course, also a way to gauge how many people view this thread because of its negative title vs how many people view the other thread I posted about MP without using a negative title.
An EasyLanguage experiment: http://www.elitetrader.com/vb/showthread.php?s=&postid=2231602#post2231602 (600)
LOL No this was simply an experiment. I've used MP concepts profitably for a while now. I attempted to start a useful post yesterday regarding MP and no one responded. Almost a full 24 hours later I started this thread using a negative title and it's already gotten almost twice as many hits as the other thread and 3 replies vs 0 on the other one. ha ha Just funny to me and proves a point about the negative mindset people on ET have. The attempted civil and practical discussion thread is ignored while the thread with the abrasive title attracts responses and hits like crazy. It's funny and sad at the same time...and explains why most here are simply wannabes. Funny shit.
I suspect more people are drawn towards the negative title because people in general will do more to avoid pain than to gain pleasure. The title obviously highlights the potential for pain if one trades using the Market Profile.
When I trade discretion... I use it. I've tested MP a long time ago, it has significant value. I know my tests and research.
I've always wondered what edge market profile offers in practice over conventional support/resistance analysis. Maybe an experienced MP trader could shed some light on this.
How do you conduct conventional support/resistance analysis ? Could you provide an example of what would be support and resistance for this coming week in the instrument that you trade ?