Further feedback on Markets In Profile?

[Reaver 10]

Hey I was wondering if anyone had any more insight on the new book by Dalton. I read the book review section but was wondering if anyone had any more opinions, perhaps after a little more time to digest the info.

 

Any and all opinions welcome. I wanted to keep this in the premium discussion to stimulate some discussion as it seems not much activity takes place here!

 

Have a good one ya'll.

[TinGull 10]

MiP is one of the few books that you will read that focuses a lot on the brain and how one needs to have access and utilize both hemispheres of the brain to become a successful trader. I'm on my second read of it now, and unlike my chicken catchatorie, it's better the 2nd time around.

[Reaver 10]

lol thanks man. I am gonna give it a shot.

 

I trade on momentum using EOD data and SMR charts- I was thinking that checking MP out, especially MiP (the editorial notes it is also for longer term grasp) may give me a sharper edge on where price may go. Does that sound logical or am I crazy?

 

 

mmmm leftovers.

[TinGull 10]

thats logical. MP gives you a good idea of what's going on in the market intraday or longer term.

[Reaver 10]

Thanks for the info.

[Soultrader 12]

My advice? Just read it, absorb it, become a master at it. Once you grasp the concept of MP completely, it will completely change the way you view the markets. Since learning MP, I feel like I am communicating with the markets everyday. Its sort of like watching a movie on mute and trying to figure out whats going on. Once you start understand human behavior you start to get an idea of what the movie is all about. For me learning MP was a similar experience.

[TinGull 10]

Truthfully...just reading Daltons stuff and having some screen time and really knowing the psychology behind candlesticks will give you what is most important about MP. It's really all about the psychology of the market participants. There's much more than just buying at the low value area and selling at the high value area. Knowing "who" is doing the selling or buying and where "they" are gonna get uncomfortable when "their" positions go against them to be able to start to see where the stop runs will be and such...thats the essence of it all IMO.

[Reaver 10]

Thanks Tin.

 

Hey I was wondering, since I work during the day, what would be a good application to try to work in some screen time, utilizing some sort of playback feature or something?

 

Economical would be a factor as well..but I'll do what is necessary!

 

Thanks for the info, that is what I like about MP is that it allows to focus on psychology of the prices instead of just following indicators, etc...it relies on intuition and brainpower. I'd feel much more comfortable with something like that.

[TinGull 10]

Sierra Charts will offer a playback functionality that works well. They are cheeeeeap too. I think you can get on board for like 24 bucks a month and data is able to be provided through tons of different brokers for free.

[Reaver 10]

Awesome Tin. I am going to check that out.

[Jabo22 10]

Also, Fin-Alg makes a nice MP plug-in for Ninjatrader. It costs about $249 US.