Soultrader

The 80% rule is misleading in my opinion. Whether it be 70, 80, or 90%... success comes only if you can apply it accordingly in your trading and make money of it. There is really nothing to tweak. The way I apply this concept is to avoid going long once price has fallen into value. But this rule alone is too narrow and fail to grab the bigger picture of price action. You need to understand what is causing price to decline into value or rise into value.... what clues are left above/below/within value, etc... Over the course of 1-2 years... my use of market profile has expanded beyond just simply value area rules whether it be 80% or using vah and val as pivots. What I have found valuable in my course of mp education is studying profile patterns and type of days; being able to recognize profile shapes, understanding price action above/below the IB, recognizing the psych of traders through profiles, etc.... Once you feel like you know mp, dig deeper. Study it again as if you are just starting out on the learning curve again. Become proficient enough to be able to spot potential trading setups just by glimpsing at a market profile chart.

Hi kuky, Sorry for getting back to you late. I would gladly give you some input... however, I have trouble understanding your drawing. Could you please post a chart instead as it will make things easier? Thanks

Thanks guys!

Just a recap of some key information looking back into market profile. CLICK HERE TO VIEW VIDEO

Thanks for the reviews guys! Keep em coming

I started using CQG recently. It is by far the best charting platform I have ever come acrossed. I never even understood EL for TS but creating studies, conditionals on CQG has been a piece of cake. You get what you pay for. CQG can run up to $2,000 per user /month depending on what you need. But definitely worth the price imo.

Mister ed, The book is in Japanese so have no clue. Did I tell you that I cant read japanese kanji? :doh:

Yep, you are good to go.

Hi fellow TL members, Today I have obtained two autographed rare copies of Steildmayers "New Market Discoveries". The book was translated into Japanese and released several years ago. The book is not available for purchase anywhere and is limited to only those within the financial industry. I am keeping one for myself but would like to give away an extra copy with free shipping charges. Steidlmayer has signed the inner cover of this book. (not a print but actual signature) I would like to a start a contest for this exclusive copy. Here are the conditions. 1. Post a broker review OR 2. Upload an original trading video AND 3. Must have 10 posts or more to qualify. For those interested, please post here once you have met the above criteria. I will have a random (trust me it will be random) draw for one lucky winner out of all that participated. Contest closes March 14, 2008!! Thanks!

Hi Db, .gif files wont work on the video site. I will ask my coder to see if this extension can be added. I also increased the attachment size for .gif files to 5mb.

Hi Db, The videos are hosted here on our server. The following formats are allowed: (3gp)|(mp4)|(mov)|(asf)|(avi)|(flv)|(wmv)|(mpg)|(mpeg)|(mpeg4)|(xvid)|(divx)|(3gpp) The maximum file size per file is 100mb. The cookies are necessary as we had to integrate the video system into the forum system. Regarding video recording software, I would recommend camtasia studio by www.techsmith.com. I havent experimented with other recording software so I dont know of any other ones that are as good. Try the trial first as you will get all the functionality.

Hello traders, Please refer to Volume Spread Analysis Part II thread for further posts. I have decided to close this thread.

lol okay I will get this setup today.

this is too funny. Bf, I will join you as soon as I understand this game.

I agree to an extent Tasuki. I havent really studied VSA closely as most traders here.... but the psychology/effort/result behind the bars and volume is what makes sense to me. I am not familiar with the VSA jargon as well. I agree the smart money is not always active. This is evident through volume and nontrend days. Even on days when the initial balance is wide and the markets trade within this IB range... it is showing early involvement by the big money but no activity throughout the rest of the day. I did have the opportunity to observe my old boss. As a discretionary fund manager, he was an expert in reading the psych behind other funds. (often based on news, sectors, etc...) Hence, if he suspected that Goldman Sachs was selling inventory today he will simply follow the money and focus on the short side. I am assuming this mentality exists on other top fund managers as well. As a result a few fund managers managing hundreds of millions with the same idea/thinking can be considered "smart money" in my opinion. (no specialists in Japan) They are well aware of the impact on the markets if they liquidate/absorb inventory. Anyways... wanted to post ES chart for Feb. 28, 2008. Please see attached.

Short video for today. TL! Videos

Welcome back James. Good to see you again. Any chance you have a recording of the speech?

Tasuki, I think whether mp or vsa they are showing the same thing. Footprints of the smart money. You can identify the maneuver by the smart money on mp through range extension, profile patterns, POC movement, etc... VSA shows this through strength/weakness in the background, stopping volume, divergence in price & volume, etc... You mentioned "but the fundamental philosophy of VSA is that the big players drag the price up and down to suit their needs." But this in my opinion applies to MP as well. If there is a conflict in opinion by the smart money, you can see this through profile shapes like neutral days. If the smart money is trapping longs you can see this for example through "P" shaped profiles followed by lower value placement the following day. So in conclusion they are showing the same information in just a different format. The smart money is not one single entity and I agree they do not work together. But these guys have access to institutional holdings information, understand the psychology of hedge funds, and have a better sense of market direction than most traders. Hence, they will follow the money. As a retail trader, I am in no position to trade based on what I think the markets should do. I will leave this to the big traders who have the capital to move the markets. MP, VSA, and other methods simply allow me to follow in their footsteps. My 2cents.

FYI, I used to tune into the market vu show a few years ago. This is when I found out about Jack Broz who would call S&R levels every morning on the bond markets. The market vu show was a good educational program for me during my early years until Financial Broadcasting Network took over it. Alot of good traders have moved away because of it. Not sure if Gary is still broadcasting for them but used to love the marketvu show.

Hey, I signed up but have no clue how to play this game. I will spend some time trying to figure this out.

Joel Pozen recording on ER2. TL! Videos

Wow thank you very much for the kind responses. Finding the right methodology for your own style of trading & discipline were perhaps the longest hurdle for me. Its all about mindset... think like the manipulator.

For those interested, Leroy Rushing from www.tradingeveryday.com will be hosting a free webinar this coming Sunday, March 2nd, 2008. More information can be found here: http://www.tradingeveryday.com/Webinars/Webinars2.html

Wow. Chad you're a genius. Looking forward to that market profile addition.