bronxterp

99.9% of systems and methods that I see posted on trading message boards are trend or breakout related. Does anyone actually attempt to trade a range? Given that markets range most of the time, wouldn't it make sense to try to capitalize on a ranging market?

IMHO, this China headline could be at least a temporary top for the EUR/USD. Every day we hear about how weak the dollar is getting. Now this huge news comes out that it will probably get worse. I think it could be a suckers headline. Will I short the pair now? No. But if I was long, I'd be looking to take profits on that piece of news. People who are long from 1.33 a few months back are probably very happy to sell into the buyers up here! What might be more alarming is that Giselle Bundchen is going long the Euro and short the dollar. Thats my signal to reverse! LOL http://www.bloomberg.com/apps/news?pid=20601109&sid=aUdDmoYyZhdY&refer=home

btrader2, do you calculate the VAH and VAL using 24 hour info or your customized period? I know there is a site out there that calculates VAL, POC and VAH when you plug in the data, but I'd prefer to have Excel do that for me, especially since I watch 10 currencies and don't feel like plugging in numbers for the rest of my life! The problem is that I can't figure out the calculations on Excel...not even sure its possible...but if it is, can someone here let me know how?

I love using MP for futures and I'm interested in incorporating it into Forex trading. I think I will use the London open to US equity market close for my profile...2am EST to 4pm EST. Its a rare occasion that the Asian market time frame offers anything significant. I use MetaTrader4 for my Forex charting and there are a few MP indicators out there, but none of them are desirable since they don't have Value Area or IB data, so I've been charting it manually for the time being on Excel which is a chore to say the least.

And if you want to sprinkle in some Elliott Wave into this... the rising wedge will only appear at the end of the 5th wave. If you're in the 5th wave and you start seeing overlapping subwaves, this is where doing the Wolfe projections can really pay off. These subwaves will only be 3 wave patterns...thus all the overlapping. Like you said, the drop that occurs after a rising wedge can be very sharp and quick.

Its definitely a good starter book for trading futures and Forex. When I picked up the book, I really didn't know what a futures contract was. I studied the strategies, but most of them were not for me as far as my main strategies go. I've used "box plays", but usually within another strategy of my own. The book also introduced me to Market Profile, which has been a huge addition to my trading career. That led me to Mind Over Markets and somehow I found this site when researching Market Profile. Carter's book is a great book for a novice, but its only a starting point.

I'm a newbie to FOREX as well and had some questions (didn't want to start a new thread). I've traded stocks and futures for nearly 6 years. I know all the risk and money management mumbo jumbo. I've found that I've done my best trading when I keep it so simple that I could train my dog to do it. When I try to over-think and come up with super strategies, I find that I struggle a lot. I'm going to take time to learn this currency stuff and come up with some simple strategies before I trade. But first, I need to learn the nuances of the FX market. Now onto the questions: What are the 2 or 3 best pairs to watch as a newbie (or even as a pro)? Which pairs have the best daily range? I consider myself to be somewhere between a scalper and a daytrader, how many pips can one expect to take on a "typical" trade? How many worthwhile trades do you usually see per day...day in this case being 7am EST to about 11pm EST (I don't plan on being awake for most of the overseas openings) How many pips is reasonable to expect per day? (I realize this all depends on what type of trading is done and on which pair) Thanks in advance for any help!

James, have you figured out how to scale the charts? I started a free trial last week and have benefited from the intraday chart, but I can't view daily charts next to each other. It seems like there's a huge amount of space separating the days. I have to push the left arrow a lot to see the previous day(s).

Hello, first time poster here. I've read Dalton's Mind Over Markets a few times and have studied some other Market Profile resources. I have used the MP as a guideline for trading the YM and ES in the past. I was wondering if it is applicable to equities as well? I've experimented with a stock or two and the Profile seems to work okay. Anyone have any experience with MP and stocks?