Trading with Market Profile

Discussion in 'Technical Analysis' started by They, Oct 10, 2002.

  1. more likely related to one standard deviation (ca 68%) than anything else, so that's how they got that cut-off.

    OTOH, can I get MP using QCharts Basic version, or do I need to go for more expensive versions?

    Thanks,
    wally_
     
    #41     Oct 18, 2002
  2. Pabst

    Pabst

    One standard deviation is the correct answer.
     
    #42     Oct 18, 2002
  3. They

    They

    mashed up and spoon feed levels, WHAT? you want a high chair too?
     
    #43     Oct 21, 2002
  4. tntneo

    tntneo Moderator

    LOL !
    fascinating stuff.

    really similar to what we do with NYSE. doing different things with indices but you make me see things in a different way now :)
     
    #44     Oct 21, 2002
  5. They

    They

    HOOGLY BOOGLY!

    Did I scare you?eek: Or do these levels scare you?


    UVA 899
    POC 896
    LVA 893


    $tick

    UVA 763
    LVA -355


    Weekly(bloodclot)
    916.50
    904.50
    894.50
    884.50
    877.50
     
    #45     Oct 21, 2002
  6. They

    They

    a man who has fallen in to the well shouts out "Help, somebody throw me a rope"

    The rope is thrown in and the man shouts out "Help, somebody help me grab the rope"
     
    #46     Oct 22, 2002
  7. Tacsian

    Tacsian

    They,

    I've loved this thread...prompted me to register today so I could learn a bit more about the use of market profiles..

    When you see a close outside of the LVA on the TICK for example...do you wait for a completed 5min bar close back inside of it to signal a buy point? Or do you simply buy upon penetration of any tick reading back above the LVA?

    Today I noticed quite a few closes below on the 5, followed by a weak penetration back above that wouldnt have led to any gain and most likely instead to a -2 loss on the emini.

    Do you only trade off a level once and then consider it "used up" for the day?

    Fantastic thread...thanks for sharing some real and useful on this board...love how we couldn't even get a 1 min close above the POC today to go up and fill the gap and have sold off nicely from that level...I'm going to have to find a way to get MP stats each day if you stop kindly posting them :D

    Thanks!
     
    #47     Oct 22, 2002
  8. They - What is your point in posting these GIF? I appreciate the links for finding out more about MP, but your posts seem like a woulda, coulda, shoulda rear view mirror trades. The fact is - I may be wrong - is that you probably have not taken any of these trades that you post on the GIF's for these magic levels and quick-on-the-draw-scalp trades. Have you backtested this stuff for confirmed entries and exits? Market follow-through?
     
    #48     Oct 22, 2002
  9. They

    They

    Wait for the break and then the confirm (5 min up bar/yes, I wait for close)

    Many day's the level holds for a few plays

    But I only take the first one
     
    #49     Oct 22, 2002
  10. They

    They

    The purpose of posting the Gif's is for people to see the set up visually (a picture is worth a thousand words)

    The Gif's are posted with the levels the day before the trades - the follow up Gif's are posted for reference and inspiration for people to backtest this type of setup themselves- some people can handle larger stops than other people in order to get a higher win/loss ratio - this set up is just one of many in a basket of setups and systems we use to keep the equity curve smooth and upwardly mobile (this trade setup might need to do something different for us than for you)

    Your speculation on whether or not I have taken the trades might be an issue for you, it might even be a deciding factor on if you were to trade this type of setup, I don't know- I hope it is not

    there is nothing "quick-on-the-draw" about waiting for a level and then trading off of it - of course some people might need some "magic" in order for them to have the discipline to trade levels

    If I only want 2 points (cuz of our style for this setup) then naturally we would not be concerned with market follow through - if you are asking me if I think these levels have potential as entry points for longer term day trades, the answer is yes

    My backtested results are in the form of profits I can give you my broker's tel. number if you like

    If you are a Tradestation/Wealthlab user you could test this concept yourself adding trend filters or whatever - remember there is logic in them there hills - if the majority of $tick 5 min bars touch the POC, your odds of selling/buying tick extremes for a move to the POC are quite high - we just happen to use these extremes

    what do you want for nothing? ...a rubber biscuit?
     
    #50     Oct 22, 2002