TinGull

As many of you know, I don't trade very often anymore, just a few times a week. This trade came up today and I figured I'd take a shot of it for ya. Note the lower volume on a narrow spread as price reached support. Sellers had dried up there, and I went long some inside that narrow spread bar. Then as price reached resistance, I exited the position. Just a quickie 4 pointer. Damn....quick 4 points. I remember last year when 4 points could take a day.

Yea, I can't make sense of what you mean by it having no place in trading. Price always has a perceived "value"...that's why there is trade. One person feels it's valuable to own, another person feels it's not valuable anymore...they are always feeling that price has some "value". Otherwise, why put your money into something? Every day there's a price that an issue spends more time at than others. Why? Because people feel that price to be the value of the day for that issue. At the end of the day is when you've got the perceived "value" of that instrument and then can see the distribution around that "value". A price change is a price change, whether it be up or down. The Market Profile is there to show you where the price change happened and when it did in correlation to other price changes throughout the day. I do use it, and many other professionals use it, with success. If you can't find the usefulness in it, that's fine. I said once and will again, that's the beauty of trading! Everyone can see things differently and achieve the same monetary success.

http://www.linnsoft.com/videos/pivot_xfer/index.html http://www.linnsoft.com/videos/tpo_lines_flash/index.html Sorry...didn't watch it. Was trying to remember which video it was from when I in the thick of it. One of those 2 oughtta help.

Market Profile is a thought process more than it is a strategy. Arbitrary? hardly. Why 70%? 68.2% is one standard deviation, something that's hardly arbitrary. Some trading programs use that hard number, most round to 70% because it's "easier". MP allows one to see, graphically, what the market is telling about itself. A trader who understands and respects Market Profile is better able to grasp what the market is saying over a broader time frame. Does VWAP and its "standard deviation" bands (not so arbitrary when it's related to your VWAP, is it) have it's place in folks' trading? Absolutely it does. One could use Market Profile to understand likely possibilities for price direction and then drill down to use VWAP bands to actually take the trades. I think that'd be a fine way to look at it. As I started saying at the beginning...MP is a thought process more than a strategy.

http://www.linnsoft.com/videos/mp_morerefs/ I think that video oughtta lend a hand.

You should be able to do that with a V# variable coming straight off your MP charts to your candle charts...if I remember correctly.

thats the beauty of the markets

Just wanted to post up a chart of a little trade I took today. Welcome back, right? I'm not trading more than a handful of times a month right now as I've got plenty of other things that have been keeping me busy. But, none the less, taking great trades. I decided to take a peek at the markets this afternoon during lunch and saw a nice setup pop up. So anyways...just thought I'd post it up. I won't post all the time, but will check in every week or so. Great to see this thread is still kickin'!

The fastest machine to run MS Vista is a Mac......just something to think about.

marketguy, when you click the link, in the upper right you'll see something that asks you to type in a code that's presented there. Enter that and then you'll be prompted for the download.

Wonderful stuff, Seb!!! Thanks!

Welcome Seb! Are you VSA Trader on the T2W boards by chance? I loved reading those posts.

Welcome Leecifer! What sort of things do you trade?

You don't happen to trade with thinkorswim do ya? A couple things you wrote there sound shadowtrader-like. I trade with ToS and listen to ST a lot.

JJ, I wasn't in that trade. It's an issue that I do look at but just didn't catch it that day. Ah well, there'll always be others.

Just wanted to post a nice no demand example that I came across today. The signal was a few days back, but worked out perfectly.

JJ...no, not even for a small ride. I'm more of a conservative trader who needs some confirmation of a move instead of being the first on the train.

JJ, your second post there with the 75 and 120 point...I would never have gotten long that first 75 point move (not without seeing more of the chart) but the second move is a nice one as price plowed into that support showing bigger volume than the last time it was at that price and then we get the next bar as UP!! After seeing that, I'd be looking for a test, which happened the 2nd bar after the big range big volume bar and then a long overnight was very nice.

PP...beautiful stuff as always. Thanks again for opening my eyes up to VSA

Yup, you got it

I wouldn't say theres potential hidden buying in the bar you've got marked. The spread wasn't outrageous...volume sure was and it closed just off it's lows...at support. Next bar was down showing that the effort to move down indeed gave us results. That's the biggest thing I watch for. Is the effort giving results? When you see no results from the effort, thats when the hidden buying becomes apparent. In this, I see price that broke a support level on significant volume and continued lower and is now retracing. Take note of the volume that produced results. That last bar doesn't have nearly enough volume to be able to push through that supply left by the big volume bar. Just my opinion...

Right after a nice bull flag was that first test

Closed out part of a position on SOLF today:

I haven't seen the boot camp, but think I can figure what that means. As for what you're saying...sure, buying and selling has to enter into the market at some point on most days. Trend days are an anomaly to that whole thing, though. To me...if I'm playing intraday and price is coming into the last swing low and all of the sudden stops going lower...I'm out. I don't give it a second thought. Price stalled for a reason and I'd rather not be on the wrong side. Now if price glides through that, then Im ok holding. If price does bounce off that last swing low and goes a little higher, and then comes back down and bounces again...thats the background you're looking for regarding higher prices, IMO. It's really about market cycles. Phase 1, 2, 3 and 4. Thats pretty much all the background I look for and then when I see the market break out of a cycle, I ride it. That's pure Dalton stuff. Hope that helps even just a teeny bit

Also, todays action. The grey rectangle is a tail from a candle on the daily charts at this level that it just broke through. This should act as resistance now.