Soultrader

hahahahaha.... i was crackin up so hard when i saw that chart. Good one

Truly amazing stuff Tingull. I do enjoy your MP threads very much. How valuable MP is when you can observe value and not price. Clearly we are seeing lower value placement definitely not a bullish sign. For those without MP, they may assume strenghth due to the afternoon rally. Not a rallly imo.. but a short covering. Tomorrow will be exciting to see this market drop!

hahahaha. welcome to the boards Chuck. Gotta show us how to trade!

I definitely agree that passion is one the biggest thing needed in achieving success. There are plenty of people who understand what it takes to get there but leave it aside for tomorrow. Is this mental lazyness or is it fear of the challenge? I have programmed my mind that no matter how drowsy I feel, if there is something that needs to be done... do it NOW! Not later, not tomorrow but now. Perhaps this is why I have a workaholic personality? I need to be productive every minute or I feel so unsatisfied with my life. I hate not doing anything. Even when everyone doubts you.. the strength to believe in your goal will get you there. I received plenty of objection when I decided to become a trader. But I brushed off everything and stuck to it day in and day out. Even if a starting trading blows out $10-$15k account, that is nothing compared to the return one came make if he can learn to trade successfully. It is a small price to pay compared to the rewards. I use alot of NLP to keep me in a positive mindset. I also like to go through self hypnosis/meditation to enter a calm period mentally before I trade each day. Helps me get into the right focus. I am extremely zoned in during the trading hours... a person can start talking next to me and I would hardly hear him.

Yes. I agree dalby.

I have tried in minetoo. Which is why I do not use it. The audio alerts at those numbers are useless too imo.

Short video on identifying false breakouts and how to profit from these moves. Usually when false breakouts occur, price will swiftly reverse in the other direction. A valid breakout needs good buying volume. Without it, we are seeing a lack of buying confidence. CLICK HERE TO VIEW VIDEO Charts created by TradeStation

One of my favorite MP based setups is based on false breakouts. I like to play price rejection and fade the moves. For example, if price breaks out of value, is rejected and falls back in.... I would fade it and go short. Picture the psychology behind the breakout traders who bought as price hit new highs or broke out of value. They have stops placed several ticks below the value high pivot. This will trigger a stop run and send price lower. The chart below shows a similar rejection of price. New traders bought the break of the daily pivot (yellow line) and value low cluster level. Picture the psychology behind these traders. If price is rejected, they are not hurting. They will need to liquidate causing price to decline. A good short entry would be a below the daily pivot or around 12260 as price falls below it. Notice the 40 pt drop. The best way to confirm if a breakout is valid or not is by looking at volume. If there is less volume at new highs or a breakout, that means less buyers find that price attractive. Simply put, buying has dried up. Hence we are likely to see a reversal.

2 part video on some good and bad scalps. Just showing you how I scalp and what I look for. If you have trouble understanding what Im saying... I do too. CLICK HERE FOR PART 1 CLICK HERE FOR PART 2 Charts created by Tradestation

Hi walter, There seems to be a small bug in the TTM Div dots. Some of the blue TTM's show a green dot. I have attached a pic. Perhaps you can take a look? Thank you.

TS does not offer market profile by default. The mp indicator was coded by Ant and is posted in our forums. The problem is that it will not plot a composite profile which is very important for MP traders. Tingull I believe uses Investor R/T and I have seen some very nice MP composite charts. Very good mp package in my opinion.

I personally use Tradestation for Market Profile also. It might be best if you ask Tingull because he is familiar with market profile vendors. Try shooting him a pm to see what he has to say. Also, Ant is the MP wizard so he should be familiar with vendors as well. Note: The TICK Delta is actually a misleading name. The coder, walterw decided to change it to Volume Delta.

Notice how the premarket resistance was at 12300? Price tested it multiple times and we saw sell volume at that level. The lower range was the value low pivot indicated by the red dotted line. Did I say multi-pivot?

ckait, Just install the .ELD file. It should be labeled as TICK DELTA under indicators in your TS.

Video on volume explaining how to detect warning signals. Focuses on the 500+ decline on the dow and any longer term timeframe trader could of easily avoided it just by looking at volume and balancing price action. CLICK HERE TO VIEW VIDEO

Have you tried using the TIKI? Try it.. you will find why I do not use it.

Great stuff Tingull. Definitely love seeing those P Profiles after a nice decline. (although I played all shorts today on 10 trades) Unless fresh buying comes in we are likely to go lowerrrrr. Should be a active week or two.

"Find the job that you love and you will never work the rest of your life." I think it was Confucious

First chart shows the decline and the initial short covering. Then we see new buyers appear. The second chart shows additional new buyers stepping in to lift price.

The right column is 10 lots or more on the YM. I think its the best settings to filter out bigger lots.

Quick premarket trading video on price action and tape. CLICK HERE TO VIEW VIDEO Charts created by Tradestation

"The man who insists upon seeing with perfect clearness before he decides, never decides." - Henri-Frederic Amiel -

Just bought 2gb additional ram today with a combined total of 3gb now. Maybe Ill give Vista a try with this.

The first 30 minutes is one of my favorites. However, if you are still learning this game it can be quite difficult to initiate a trade during the initial opening minutes. Alot of emotions pass through. It helps if you understand how to read order flow or tape. Markets usually go only 2 ways at the open. Up or down. Usually they can go up, down, and sideways. So the opening has cut 3 options down to 2. My advice is to watch order flow and price carefully the first 3-5 minutes. Price is extremely jumpy around this time and is deciding which way to go. It may decide to test one level first before it reverses in the opposite direction. It is very fast and you must be able to see this on tape. You can look at the direction of TICK's. If TICK's open up negative and can not lift above the zero line on the first attempt, there is a good chance price will decline. However, the TICK can be a little tricky at the open as well so these are tools you willl need to become familiar with. Another method I use is taking the overnight high/low as the reference point for the opening. Let's say price open a few ticks below the overnigth high. At the open, price lifts to this reference point and sells off. This would be a quick short for me. Hope this gives you an idea.

GCB, As the trading session progresses, the developing profile adjusts itself as well. The value area is derived by looking at the POC.The POC is the price level where the most activity has taken place. If the markets decide to sell off, the POC will adjust itself lower and lower. For example: Profile from A - D period: A ABC ABC ABCD (longest line of TPO: current POC) BCD CD D Now as the day progresses and the markets sell-off.... Profile from A to H period: A ABC ABC ABCD BCDEF CDEFGH (notice how the POC moved lower) DEFGH GH GH H Dalton refers to calculating the value area as this: ""First identify the price at which the greatest volume occurred. Then, sum the volumes occurring at the two prices directly above the high-volume price and compare it to the total volume of the two prices below the high-volume price. The dual price total with the highest volume becomes part of the value area. This process continues until 70% of the volume is reached." - From Mind Over Markets - Here is a thread simplying this calculation: http://www.traderslaboratory.com/forums/f6/calculating-value-area-345.html Indicators such as the the 5 period moving average will take plot a line of the average close of the last 5 bars. Now what this does not do is take into account the volume (supply vs demand) and time per bar. Therefore Dalton would refer to it as "incomplete". Market profile is based on time, price, and volume. Time can be seen with the number of TPO's that take place at certain levels. When alot of TPO's are clustered up in one area, you can see that price is finding value and spending alot of time within this area. Buyers and sellers are in agreement. When price shoots through a known support or resistance point on high volume, we see price spending little time at these levels. Hence we get single print TPO's. For volume, let's say the market is in a trading range. If there is less TPO counts at the upper range of this bracket, we are seeing buyers drying up. Hope this clears it up.