glenbee

Volume does not count the number of transactoins. Volume counter the number of shares/contracts traded. So, for example, one ES transaction could be composed of 5 contracts traded. Thus there would be 1 tick unit and 5 volume units occurring in this example.

I just read through the thread and it seems to me that part of the confusion regarding the definition of a "tick" is that the industry applies the in 2 ways. It is used to define a single transaction and this is the basis of tick charts as we know them. But it is also used in conjunction with a change in price (i.e., uptick/downtick) which is a essentially a transaction at the next higher or lower price. So much for varied terminologies.

You are correct. I said that I don't care because I am interested in the trade logic... which has proven to be incredibly valid. But I did NOT say he doesn't make money/money isn't made. Because that would be a lie. The fact is that the approach is extremely profitable. But if I say this then it seems that I am hawking. You have yet to post proof of your allegations. I would love to hear/see it. What's the saying "put up or shut up"?? The only thing that I can figure is that by antagonizing you're hoping that someone will be so disgusted they'll post the setups. If so, nice try... but no dice.

OAC, You are a moderator on TradersLaboratory so I suppose you have some administrative authority. You and I have sent each other private messages and those will remain private. What will not is the fact that for whatever reason you have some axe to grind and to the best of my knowledge you have absolutely no evidence supporting your slander. I see the trades first hand every day and money is made every day. It's about time you post your proof or cut the crap. Your one line responses help no one. If you're trying to incite negativity you've succeeded. I'm fed up with your nonsense.

Unicorn, Here are some answers to your questions: A) The setups and methodology are explained verbally in the room. Paltalk does not provide for chart sharing. B) There are reading materials that review the methodology on the members Google group website. C) There are no videos that I am aware up but JP sends out an audio recap every night. D) You have to ask questions and during the training period you are encouraged to ask and ask and ask. For the most part, JP has the patience of a saint. No questions are ever considered to be "dumb" regalrdess of how elementary they may be. E) You can rest assued that any questions you have are answered. A better way of putting it is that you will eventually come to understand everything that is presented. It's up to the individual to ask the questions. Also, of the 200 people in the room perhaps 40-80 are new memebers (including myself). And most of the 200 never post/ask anything. It is very, very managable. Note that the above applies to the training period that follows JP's free trial (which is pretty much useless since he does not teach during the trial). Unless one is very well versed in market profile I would not recommend joining the room until the next trial/training period is offered... whenever that might be. Hope this helps!

Marketguy: I think it goes without saying that the more familiar one is with market auction theory and applications the faster he/she will assimilate JP's approach. So, given what you've already studied I suspect you'd find JP's method incredibly easy to understand. I wouldn't even be surprised if you find a few things a bit elementary. I mean, when you think about it, market auction theory isn't all that profound. In fact, the beauty of it all is that is so logical that you can't help but ask yourself "why didn't I think of that and why doesn't everyone use it?" OAC: I don't know if your last post was serious or sarcastic but I do know that it is inaccruate. JP couldn't care less what supplementary chart setups one uses. In fact, it seems to me that his position is "use whatever else works for you". Again, he couldn't care less. His methods don't require anything other than an understanding of how to "read" the story being told in a MP to be successful and that's what his teaching is all about. So I am sure there are many in his room who use a market profile chart alone. However, this does NOT mean to say one can't be creative and enhance JP's approach with his/her own methods if they're so inclined. I do. I'm sure others do. I have yet to come across anyone in his room who would be so arbitrary and arrogant to suggest otherwise. OAC, can you tell us where you got your information? Is it first hand or hearsay? Because as best as I can tell it's just not accurate.

Just thought I'd add my 2 cents to this thread. I paid the $400 to enroll in JP's class last month and found it so rewarding that I didn't hesitate to pay the additional $800 for lifetime membership access to his chat room and member group materials. Prior to enrolling I had read the CBOT MP manual and I had read and re-read Dalton's Mind Over Markets at least three times. So I felt I was going into JPs class with a farily well grounded understanding of market auction theory and MP concepts. However, it became apparent from the get go that JP's objective is to take his students beyond theory. The bottom line is that he is driven by the desire to see his students make money. He is overwhelmingly passionate (and patient) when it comes to teaching a variety of very well thought out, logical (and very profitable) MP derived setups that he's identified for daytrading purposes. And while he focuses on the ES his setups and techniques are relevant to any market in which auction theory drives price action. I personally prefer to trade the NQ and I apply the setups accordingly. Prior to joining up I had been trading the futures for 4 years using several common and one or two proprietary indicators to identify and time entries for high probability trade setups. My trading buddies couldn't quite understand why I wanted to pursue JP's classroom since I was making money every day. I explained to them I wanted to get a better handle on "why" price action unfolds the way it does each day and that I figured that JP's tutelage would help me achieve that goal. Well, it has and it will continue to. I don't know if any and every trader will take to JP's approach. In fact, I doubt it. But I am certain that those for whom the lighbulb goes off will recoup their membership fees after just afew trades. In other words, JP's program pays for itself and in my book that's the definition of "invaluable".

Just thought I'd add my 2 cents to this thread. I paid the $400 to enroll in JP's class last month and found it so rewarding that I didn't hesitate to pay the additional $800 for lifetime membership access to his chat room and member group materials. Prior to enrolling I had read the CBOT MP manual and I had read and re-read Dalton's Mind Over Markets at least three times. So I felt I was going into JPs class with a farily well grounded understanding of market auction theory and MP concepts. However, it became apparent from the get go that JP's objective is to take his students beyond theory. The bottom line is that he is driven by the desire to see his students make money. He is overwhelmingly passionate (and patient) when it comes to teaching a variety of very well thought out, logical (and very profitable) MP derived setups that he's identified for daytrading purposes. And while he focuses on the ES his setups and techniques are relevant to any market in which auction theory drives price action. I personally prefer to trade the NQ and I apply the setups accordingly. Prior to joining up I had been trading the futures for 4 years using several common and one or two proprietary indicators to identify and time entries for high probability trade setups. My trading buddies couldn't quite understand why I wanted ot pursue JP's classroom since I was making money every day. I explained to them I wanted to get a better handle on "why" price action unfolds the way it does each day and that I figured that JP's tutelage would help me achieve that goal. Well, it has and it will continue to. I don't know if any and every trader will take to JP's approach. In fact, I doubt it. But I am certain that for those for whom the lighbulb goes off will recoup their membership fees after just afew trades. In other words, JP's program pays for itself and in my book that's the definition of "invaluable".

Traderlu, thanks for the paint bar study. Could you also post the show me you mentioned?

I thought I would post the TS price distirubtion chart that I am currently using to determine upward support/resistance/price targets as the NQ proceeds to higher ground. The chart depicts the price distributions that developed between June 27th and July 16th 2001. The blue line is the 2009.75 high that was achieved last Friday, the magenta lines are what I consider to be general resistance/target levels based on the way I eyeball the charts (they are judgemental but have worked exceedingly well for me in the past) and the cyan lines are virgin P-O-Cs/targets. When the 2110.5 level is broken I will have to refer to the price distribution charts from April 18th to May 16th, 2001 for additional support/resistance/targets. To the best of my knowledge TS does not price hisotrical NQ data prior to March, 2001. I suppose I could review pre-March, 2001 NDX.X charts to give me a general idea about what I might expect but this could get complicated. If anyone has any thoughts for a work-around it would be appreciated.

For some reason the chart didn't come through in my first reply. It's edited and the chart I referred to should be there now.

Glad to see this thread. I trade the NQ largely because I've found that it's amenable to predictive analysis. It's price action produce market profiles that fit into vey nice little jigsaw puzzle peices. And so, for example, I felt that it was reasonable to assume that today's price action would be bounded by the red horizontal lines on the accompanying chart. Thereafter, intraday analysis gave direction and quite a few entries and exits targets. I also like the fact that the NQ seems to be less "nosiy" than some of the other e-minis. Take the ER. It has about the same daily volume as the NQ but far more ticks (trades) per day. This suggests that there are more small lot ER trades which tend to produce more whipsaw action at pivot highs and lows. Trading is tough enough as it is and I prefer not to have to deal with this noise.