syswizard

Applying Market Profile correctly has always somewhat dicey....with the biggest issue being the lookback period ... 1 year, 1 month, 1 week, 1 day...I guess it all depends on your trading time-frame.

If it (that pattern) was only more predictable ! My take is that Monday openings behave just like any other news event...if you've ever traded prop, you'll really see what happens after a stock first opens after being halted. It's pretty incredible to witness: Theres a lurch in one direction, then a big move in the opposite direction....and this action continues until the amplitude of the swings become smaller and smaller....and finally the market settles down to an equilibrium point where supply and demand are now equal. The chart will look like a SINE wave or something similar. Make sense ?

I disagree here....for one, e-mini futures fills with limit orders (buy@bid,sell@ask) have been filled about 80% of the time. However, my experience with Nasdaq stocks was about the opposite. For another, one thing to do is to backtest with the Limit orders, and then in real live trading, make them MIT orders.....most platforms are supporting those now.

First of all, if you are LEARNING to use a new tool, you should not be trading with it live. Go SIM first ! Second, the markets were rockin this week.....many, many great opportunities for profit. Best to take some time off and get that attitude readjusted.

Currently with Thinkorswim trading eRL futures. They support cascading, first-triggers-all, first-triggers-OCO. The latter works as a bracketed order....once filled, the stop loss and profit target become "working" orders. The platform performs flawlessly (until the exchange goes down like the CBOT did recently). The thinkorswim complex orders will persist overnight. Keep in mind, you'll be paying-up commission-wise compared to IB.

Sorry. Have to say: "that's a very lame response".

Interesting. Philly boy, eh ? Who were you daytrading through in the Philly area...just curious....as I am located in the area. A friend of mine who lost in daytrading, has a similar success story...he came back using options. It appears that the pressure-to-trade in the daytrading arena is one big source of blow-ups and losses.