Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Soultrader

[MP] Trading with Market Profile

Recommended Posts

Soul, would u mind telling me if u take trades based on LVA or HVA or on the POC ? sometimes i am not very certain if i shd take at the POC as we all know that the market might just rotate ard the POC, but if we take trades at the edge of the value area, we might end up getting the bad side of the trade if it is a range day?

Share this post


Link to post
Share on other sites

heres a thought , if the market opens below value and starts to trade twards VAL take a short trade there if sellers step in , if not take a short at the poc or at any point between if sellers show up. this works out best if it happens within the initial bal

Share this post


Link to post
Share on other sites
Soul, would u mind telling me if u take trades based on LVA or HVA or on the POC ? sometimes i am not very certain if i shd take at the POC as we all know that the market might just rotate ard the POC, but if we take trades at the edge of the value area, we might end up getting the bad side of the trade if it is a range day?

 

It wouldnt be correct to state take trades at VAL, VAH, or POC. I simply use these as reference points or support and resistance. The POC I dont use as much since I use a longer term POC to see where price is relative to the control point.

 

I prefer to use market profile based support and resistance compared to other forms of S&R methods. What I am looking at these levels is supply overcoming demand and vice versa. Heres an example of a trade setup on the ES:

 

attachment.php?attachmentid=6739&stc=1&d=1211817179

tf.jpg.0a130159b4120423e59f007041b9d534.jpg

Share this post


Link to post
Share on other sites

was just thinking its real interesting as if it is a range day, not much range extension, we shd fade at HVA and Long at LVA, betting that it will go up and down, playing the range.

 

As what happened to taiwa index today, was a good day.

 

Main question was that, it would be interesting to see if there are any indications when price breaks OUT of value area before u enter a trade....

 

Any idea , any1?

Share this post


Link to post
Share on other sites
It wouldnt be correct to state take trades at VAL, VAH, or POC. I simply use these as reference points or support and resistance. The POC I dont use as much since I use a longer term POC to see where price is relative to the control point.

 

I prefer to use market profile based support and resistance compared to other forms of S&R methods. What I am looking at these levels is supply overcoming demand and vice versa. Heres an example of a trade setup on the ES:

 

attachment.php?attachmentid=6739&stc=1&d=1211817179

 

Soul,

 

What kind of stop would you use in this setup? What is your target?

Share this post


Link to post
Share on other sites

Personally i feel to enter trades via buyers hitting buy and ask is rather dangerous is it not? as that is only current sentiments?

 

Care to enlighten hw u input a price based in market profile?

Share this post


Link to post
Share on other sites
Soul,

 

What kind of stop would you use in this setup? What is your target?

 

I normally use stops above/below a pivot or swing high/low. My entry can be within 2-3 ES pts from this pivot.... hence 2-3pts being my typical stop.

 

Target.... I scale out half when i feel price may become rangebound or stop. So basically looking for increase in volume, S&R levels, etc..

 

The final i try to hold on but never really the case as I tend to exit too early.

Share this post


Link to post
Share on other sites

The final i try to hold on but never really the case as I tend to exit too early.

 

Have you thought about waiting to exit the rest of your position until you get another entry signal (in the opposite direction)?

Share this post


Link to post
Share on other sites
Have you thought about waiting to exit the rest of your position until you get another entry signal (in the opposite direction)?

 

No but will test it out as most of my trading is based on reversals. Interesting how I never considered this.

Share this post


Link to post
Share on other sites

so in theory... the initial balance represents the day traders play ground, exclusive of long-term trader, and is developped within the first hour.

 

in other words, if no economic news occurs, the price limits defined by the first hour will be prevalent for the majority(%?) of these circumstances.

 

is that what you're saying?

Share this post


Link to post
Share on other sites
No but will test it out as most of my trading is based on reversals. Interesting how I never considered this.

 

Keep us posted. :)

On my divergence counter trend backtesting, I often got an opposing signal as the reversal was impending. Then again I found that the false signals often left alot on the table. If there was a clear trendline break I used that as an exit off divergence. If no trendline was holding up I would then use the last swing level as the exit trigger. On a free trade it seems you have to be willing to not pick a top and risk some of the unbooked profit to get the continuation moves which often are quite explosive.

Share this post


Link to post
Share on other sites
Care to share the type of entry signals that work for u, soul trader?

 

Hi,

 

I dont necessarily have strict rules on entries like go long at open if....

 

I see how price is reacting relative to volume around these mp levels. Heres a chart I posted in the Live Indices trading thread. The entry is based on volume analysis at support.... also note that Fridays value low was around that area also. Unfortunately I exited early as I went to bed.... should of held till close but never up that late anyway.

 

attachment.php?attachmentid=6770&stc=1&d=1211939147

longes.thumb.jpg.947f8fb23961bc73c18381a4fb25f3a9.jpg

Share this post


Link to post
Share on other sites
No but will test it out as most of my trading is based on reversals. Interesting how I never considered this.

 

Same here soultrader. Because of that I take a dual position. Please allow me to explain in an example with fictitious numbers. Lets say I am long 5C and then I decide that this resistance could be a place that will contain price. I will exit some of the long (we'll say 3C) and now go short 5C. I know what you are going to say...I'm net short 3C and that is true. However, using buttontrader it treats them as separate trades and that means I can manage them separately. It happens quite often that this short entry might only be good for 12 ticks and afterwards the original trade keeps working for new highs or a test of the old high.

 

I'll admit that my decisions are discretionary, but you get the idea....

 

With kind regards,

MK

Share this post


Link to post
Share on other sites
Hi,

 

I dont necessarily have strict rules on entries like go long at open if....

 

But sometimes i feel that sell volume can overtake buy volume at anytime though....

 

Had a bad experience today trading taiwan index futures when it trended suddenly downwards through the minus development to the low of the month !!!!

 

luckily i had a stop loss at breakeven to save me when i was just 2 ticks in profit....

Share this post


Link to post
Share on other sites
may i ask are u a responsive or initiative MP trader? do u fade or go with breakouts frm value area and ur strategies? mostly it seems that MP is good for reversals

 

I am mainly a reversal type trader. Ill post a chart this week on a few breakout setups I trade.... but mainly looking for certain reversal patterns to occur at MP and other S&R levels.

Share this post


Link to post
Share on other sites
when in a trade, may i know how u manage ur trade? and hw u trail ur profit? that is something i am struggling very hard persoanlly

 

Heres a seperate reversal chart of the KOSPI.

 

attachment.php?attachmentid=6845&stc=1&d=1212370083

 

I usually have a fixed stop in mind... for example the ES will be around 2 pts. If my entry is going to cause me to use a stop wider than 3pts, I will pass on the trade until I find a pullback, etc.. for a more optimal entry.

 

Regarding exits, I scale out on all my trades. The first exit is for around 2 ES pts.. or any hint of weakness. Then I leave my stop at b/e and just manually trail it. If long and price makes a higher low, that would be my new stop point. But again.... I tend to exit way too early on majority of my trades.

5aa70e6eee8c9_KOSPIReversal.png.3cebac2a896fd59183d971dcc5921109.png

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • AMZN Amazon stock, nice buying at the 187.26 triple+ support area at https://stockconsultant.com/?AMZN
    • DELL Dell Technologies stock, good day moving higher off the 90.99 double support area, from Stocks to Watch at https://stockconsultant.com/?DELL
    • MCK Mckesson stock, nice trend and continuation breakout at https://stockconsultant.com/?MCK
    • lmfx just officially launched their own LMGX token, Im planning to grab a couple of hundred and maybe have the option to stake them. 
    • Date: 2nd April 2025.   Market on Edge: Tariff Announcement and Volatility Ahead!   The US economic and employment data continues to deteriorate with the job vacancies figures dropping to a 5-month low. In addition to this, the IMS Manufacturing PMI also fell below expectations. However, both the US Dollar and Gold declined simultaneously following the release of the two figures, an uncommon occurrence in the market. Traders expect a key factor to be today’s ‘liberation day’ where the US will impose tariffs on imports. USDJPY - Traders Await Tariff Confirmation! Traders looking to determine how the USDJPY will look today will find it difficult to determine until the US confirms its tariff plan. Today is the day when Trump previously stated he would finalize and announce his tariff plan. The administration has not yet released the policy, but investors expect it to be the most expansionary in a century. President Trump is due to speak at 20:00 GMT. On HFM's Calendar the speech is stated as "US Liberation Day Tariff Announcement". Currently, analysts are expecting Trump’s Tariff Plan to impose tariffs on the EU, chips and pharmaceuticals later today as well as reciprocal tariffs. Economists have a good idea of how these tariffs may take effect, but reciprocal tariffs are still unspecified. In addition to this, 25% tariffs on the car industry will start tomorrow. The tariffs on the foreign cars industry are a factor which will particularly impact Japan. Although, traders should note that this is what is expected and is not yet finalised. Last week, President Trump stated that he would implement retaliatory tariffs but allow exemptions for certain US trade partners. Treasury Secretary Mr Bessent and National Economic Council Director Mr Hassett suggested that the restrictions would primarily target 15 countries responsible for the bulk of the US trade deficit. However, yesterday, Trump contradicted these statements, asserting that additional duties would be imposed on any country that has implemented similar measures against US products. The day’s volatility will depend on which route the US administration takes. The harshness of the policy will influence both the Japanese Yen as well as the US Dollar.   USDJPY 5-Minute Chart   US Economic and Employment Data The JOLT Job Vacancies figure fell below expectations and is lower than the previous month’s figure. The JOLT Job Vacancies read 7.57 million whereas the average of the past 6 months is 7.78 million. The ISM Manufacturing Index also fell below the key level of 50.00 and was 5 points lower than what analysts were expecting. The data is negative for the US Dollar, particularly as the latest release applies more pressure on the Federal Reserve to cut interest rates. However, this is unlikely to happen if the trade policy ignites higher and stickier inflation. In the Bank of Japan’s Governor's latest speech, Mr Ueda said that the tariffs are likely to trigger higher inflation. USDJPY Technical Analysis Currently, the Japanese Yen Index is the worst performing of the day while the US Dollar Index is more or less unchanged. However, this is something traders will continue to monitor as the EU session starts. In the 2-hour timeframe, the USDJPY is trading at the neutral level below the 75-bar EMA and 100-bar SMA. The RSI and MACD is also at the neutral level meaning traders should be open to price movements in either direction. On the smaller timeframes, such as the 5-minute timeframe, there is a slight bias towards a bullish outcome. However, this is only likely if the latest bearish swing does not drop below the 200-Bar SMA.     The key resistant level can be seen at 150.262 and the support level at 149.115. Breakout levels are at 149.988 and 149.674. Key Takeaway Points: Job vacancies hit a five-month low, and the ISM Manufacturing PMI missed expectations, adding pressure on the Federal Reserve regarding interest rate decisions. Traders await confirmation on Trump’s tariff policy, which is expected to impact the EU, chips, pharmaceuticals, and foreign car industries. The severity of the tariffs will influence both the JPY and the USD, with traders waiting for final policy details. The Japanese Yen Index is the worst index of the day while the US Dollar Index is unchanged. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.