Does anyone know if there is a study or add-on that allows you to display Market Profile using esignal charts? Thanks, Runningbear
Just thought I would jump into this thread.....as it seems interesting. First let me say GOOD JOB "They". I have a few issues with Market Profile. 1. I once gave $60,000 to one of the originators of it "Kevin Koy". he was running some discretionary accounts out of a brokerage I was dealing with, Net results was $-30,000 after 6 weeks. OUCH So beware 2. The other issue that I have with it is, I understand that it is just a tool and as such every trader can use it differently, obviously "they" is using it successfully. The Cisco course and the cbot course look good enough to me for the education part. So does anybody have any suggestions on HOW to use it once someone has learned it?
So does anybody have any suggestions on HOW to use it once someone has learned it? Buy support when price is trading above the POC / Sell resistance when price is trading below the POC Oh yea, I forgot the most important thing - don't over complicate trading Choose markets and time frames according to your personality/risk tolerance It's true that MP and VP are just tools to map market activity. Its also true that the mapped information can be used as a data series for automated trading systems Samson, sorry to hear about the Kevin Koy experience.
Today (3/29/04) is a perfect "P" pattern on the profile. This is supposed to suggest a short covering rally. Any comments...
They, this sounds good until the market is moving sideways, which it does most of the time. By definition the point of control (POC) will tend to act like a price magnet. Which brings one back to defining trend. This is where I"ve been stuck for over a year. Everytime I think the market is in a trend it reverses on me, just when I think the market will reverse it trends. The POC will tend to magnetize price until price moves a certain distance from the POC or has spent more than a certain time in the area of the POC. But how can this be made objective?