Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

Soultrader

Market Wizard
 View Profile  See their activity

  • Content Count

    3710

  • Joined

  • Last visited

  • Days Won

    1

Everything posted by Soultrader

  1. Soultrader
    Short 2 part video explaining price action that follows a trend day and how you can play it by using market profile. CLICK HERE TO VIEW PART 1 CLICK HERE TO VIEW PART 2 Decided to make a part 3 as well. CLICK HERE TO VIEW PART 3
  2. Soultrader
    Depends on the profile. If price had extended the range downwards only but closed back inside the initial balance leaving a tail, I may view this as potential bullish support. On the other hand, if the range extension was to the upside only and a close inside the IB, I may view this as a potential caution for long sided trades.
  3. Soultrader
    No problem. Good luck studying market profile. I had to reread that book several times before really understanding it. Pick up Steidlmayer once you read Dalton. Itll help expand your understanding.
  4. Soultrader
    Interesting... I had gotten used to that with Opera but never encountered that on Firefox. Ill ask my IT guy if he knows anything about it just in case its a glitch in our system.
  5. Soultrader
    The YM ended up holding at the critical 12600-12650 mark. Market profile is a powerful trading tool as it allows one to read the language of the markets day by day. It offers clues to what may develop and allows a trader to paint out various scenarios. Todays profile is that of a neutral day in which range extension exists on both ends. However, upside range extension in the late afternoon session represents victory by the bulls. Hence, what I am seeing is a short term lift ot the upside. The chart below explains the day by day scenario over the past few sessions. The first chart shows the key piece of information. On January 4, 2008 price gapped lower creating lower value placement with a "b" profile. This indicated long liquidation and that price would trade within this newly developed value area over the course of the next few sessions. The second chart shows a normal day on January 7, 2008 with price pretty much contained within the initial balance. Sellers came in aggressively at the open but was met with equal demand. Price is balancing out in the short term. On January 8, 2008 we had a double distribution trend day. However, value area was still overlapping the previous 2 value areas. Hence the importance to think in value area relative to price. Finally on January 9, 2008 price went down to test the key support area before bouncing back up. Although value area is lower, there appears to be short term support. January 9 profile shows bull victory towards the close with range extension above the initial balance. Just like VSA or any other technical tactic, it is important to be aware of the background. When comparing todays profile, one needs to take into account the past few sessions profile and the redefine what the market is telling you on a day by day basis. Will be interesting to see if price can bounce back up temporarily.
  6. Soultrader
    Welcome aboard Brandon. Good to see a young group of traders here.
  7. Soultrader
    Yea, Steenbarger seems to like to talk about the cummulative TICK. I actually made one for the Nikkei 225 before. For the Dow.... isnt it just the $TIKI?
  8. Soultrader
    That happens to be the case under Opera. What browser are you using? Its the browser cookies settings.
  9. Soultrader
    How about Sierra charts? I find their platform inferior but the price is extremely cheap. You should look into it.
  10. Soultrader
    In my opinion, they are fairly similar except the fact that in an open-test-drive, the other timeframe enters early to extend the ranage. On the other hand, other time-frame participants enter slightly late in an open-rejection-reverse. Please see charts below. The chart above shows an open-test-drive. Initial balance was upset early in the day by D period. Notice how A period left a single print tail as well. Later on, price did not come back to test the intial balance. This presents strong conviction. On the other hand, the chart below shows initial balance break in D period but a fall back in price into the initial balance in I, J, and K period. This somewhat resembles an open-rejection-reverse. The example is not the greatest because the day ended up being a double distribution trend day. However, the point here may be how price falls back inside the initial balance in an open-rejection-reverse pattern while a more convictional open-test-drive pattern will usually trade away from the initial balance without having to test back into it. Perhaps someone else could shed us some light into this topic as well.
  11. Soultrader
    Steidlmayer is a genious. This comprehensive book on market profile is one of my all-time favorite trading books. For those new to market profile, I do recommend reading Dalton's, Mind Over Markets first as it goes into detail on various profile types. However, Steidlmayer brings alot of good insights that can help the new and seasoned trader. It is recommended that you have a basic understanding of market profile before reading this book. "Participating in the markets can only develop your trading skills. You need to become a part of the markets, to know the state of the markets at any given time, and most importantly, to know yourself. You need to be patient, confident, and mentally tough." - Steidlmayer - Pick this up... you wont regret it.
  12. Soultrader
    Audio is slightly distorted for some reason I will look into this...
  13. Soultrader
    Looking at the Nikkei today, I have a slightly long bias for the US markets based on market profile. CLICK HERE TO VIEW VIDEO
  14. Soultrader
    Upate: Yesterdays afternoon sell-off on the YM extended the range to create a double distribution trend day. Below is todays morning session Nikkei market profile. Notice the back to back 2 day profile which shows a Normal Variation Day. For reminders a normal variation day is a profile in which the range extension is double that of the initial balance. What is particulary interesting is the fact that range extension occurred both to the upside above the Initial Balance. Also note that TPO count favored buyers on 1/08 as well as 1/09. Longer term participants are willing to extend the range upside. This may indicate a potential short term support area. Now, taking a look at the Dow.... we are seeing a key support area around 12600-12650. What I am sensing is a short term bounce upwards based purely on technicals. Will be interesting to see the results.
  15. Soultrader
    I figured out the problem.... I use a USB studio mic and apparently the right side was turned off. I fixed it now so future videos shouldnt have a problem. Sorry about that.
  16. Soultrader
    Hi Tasuki, Very interesting chart indeed... I have been looking at that level as well to see potential low volume tests. I have been watching global markets to guide me through my technical setups. One concern I have is the current Asian markets price action. After several sesions of overlapping value, Nikkei is rallying hard today back into the previous day range and value area. This action may hold prices on the US markets, especially the Dow around the 12600 - 12650 mark. This is just a short term day trading perspective. Technically speaking, with the Dow at potential support line and Asian markets rallying after a gap down... this area could hold. Afternoon session is yet to start over here but will add further comments if the Nikkei does end up reversing.
  17. Soultrader
    Hi Sebastion, Having some trouble with the video. Is the file audio only?
  18. Soultrader
    Hi darthtrader, Ill throw something up in real-time if possible tomorrow. I dont use much tools anymore as I use a naked 10min chart with mp only. But I do look at the TICKS so perhaps I can throw something insightful using the TICK. I did pour over Jerry's threads a while back and backtested many of his ideas on the Nikkei 225. However, I didnt have much success. Perhaps I didnt know how to apply his methodology correctly. Thus, I dont feel qualified to even get into the skew. :bad idea: 950 ended being pretty much the dead high of the day. Very interesting indeed. Todays profile resembles that of a normal day but the range extension downwards is quite large. TPO count currently favors buyers. Once the Asian markets open, I will post a few more posts and videos.
  19. Soultrader
    Thank you nic, do you have by any chance the url to this course? I would like to check this out when I get a chance. Ive always been a avid student of Wyckoff but never had a chance to take his course.
  20. Soultrader
    Hi nic, Could you point out which book this quote is from? I would like to read it myself. Thank you.
  21. Soultrader
    Hi Tasuki, Thanks for bringing this up. The premium forum is rather naked at the moment but working on filling it with more info. The purpose of this section is to provide a more private environment for those that prefer. As forums grow, many members become more and more concerned about the quality of posts. Thus, a private subscription based forum provides a spam free environment. Also, subscribers will usually absorb the material at TL first. This allows the premium section to contain few repetitive posts. I have also moved the vidoes section into the premium section as bandwidth is quite costly and will continue to post more videos in this section. Overall, the fees collected from subscribers goes right back into the site improvement and operating expenses. I am also looking to set the premium section on a different domain (http://www.traderslaboratory.org) in the near future... making it an entirely private sister site. The main concern here is that as forums become more and more crowded, the noise ratio increases. I have heard countless comments on how ET is hard to find quality posts. (not that there isnt any but there is too much garbage) This is always a concern for forum owners. Thus, a private section can solve this issue as subscribing members may be more committed. Comments are welcome. Thanks!
  22. Soultrader
    Hey browns, Its probably the laptop... audio seems to be fine here. Perhaps someone else can view it and leave a comment regarding audio as well. I did record it with max mic input volume.
  23. Soultrader
    Live analysis of the Nikkei 225 contract on January 8, 2008. The video explains a few mp concepts and planning trades ahead of time. Once again, I emphasize on having a trading idea first then narrowing it down to trade location based on technicals like market profile. CLICK HERE TO VIEW PART 1 CLICK HERE TO VIEW PART 2
  24. Soultrader
    I use esignal which offers this feature. I believe other platforms offer this feature as well but surprised Tradestation doesnt.
  25. Soultrader
    Hmmm, hard to say. You really need to absorb the concepts and study profile types carefully. Once you become experienced at it, move on to profile pattern recognition and try to understand the type of day as the opening hour develops. The faster you understand what type of profile the markets are likely to develope, the faster you will be able to fully comprehend market profile. Make note cards for profile days and learn it by heart. Day types should become a natural process. Then focus on the bigger picture and understand who is involved. The market leaves clues day by day.... market profile is a tool that can help you understand the markets one piece at a time.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept