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Market Profile Trading Room?

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Does anyone know of a live trading room that uses Market Profile? The only one I've heard of is Profile Traders. I'd appreciate hearing if there are there any others. Thanks.

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Does anyone know of a live trading room that uses Market Profile? The only one I've heard of is Profile Traders. I'd appreciate hearing if there are there any others. Thanks.
First of all, it depends on what you mean by "Market Profile". There are different degrees of how strictly one trades MP theory and what other information they bring to the table. Also, do you want to focus on TPO or Volume MP? There is a large amount of information out there pertaining to MP if one just searches (forums, books, etc). I would be very hesitant to sign up for a service to learn MP without first studying as much as you can on your own first. This will allow you to choose an educational service that best fits your personality and needs. What is your current knowledge with MP and trading in general?

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ioamt.com is one that comes to mind.

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ioamt.com is one that comes to mind.
Funny that you mention this. I was over at Brett Steenbarger's weblog TraderFeed (in my opinion the best blog out there on trader psychology) and just saw his post today about a free webinar on Thursday hosted by IOAMT. Of course you have to sign up for a "free five-day trial membership". I just thought I would pass that along.

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Balancetrader of Frank Butera has a website comprising of video educational lessons on MP and stategies and application going with it along with a chat room where he discuss current setups and ideas.

 

As I am a member of his course, I can say that his videos are great and a great learning experience for anyone interested in market profle.

 

Also, reading both books by Dalton of Minds over Markerts and Markets in Profiles can help you a lot in your understanding of how market profile works

 

Please remember that MP does not give you a stategy per se but is one of the best tool to give you a perfect map of the interactions of different timeframes implications in any two way auctions process. I do think that it helps a lot in understanding the interaction of supply and demand forces present in a everchanging market.

 

Sincerely

 

Shreem:)

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Guest Traderprofesional

JPJ is the best JP is a great trader

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Does anyone know of a live trading room that uses Market Profile? The only one I've heard of is Profile Traders. I'd appreciate hearing if there are there any others. Thanks.

 

i've never visited it, but Reza runs the room you mentioned: profiletraders.com. He also posts his trades in a daily blog. somewhere on the site it mentions using a 2.25 max stop, but just a quick look at today's blog shows adding a third unit to a position that already had 4pts heat. maybe he has changed his thresholds and just hasn't updated the site.

 

many have mentioned JP and i have been a member of JP's room off and on for a while. I too recommend checking it out. next time he has a free trial, sign up and give it a whirl. I like JP a lot and think he's a stand up guy trying to do the right thing.

 

hope this helps

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Alleyb on this site is Alex Benjamin. He too teaches MP. Also TradeMaven teaches a good system but their room is not too great though they do teach a simple method and their charts are great. Cisco Futures offers a home study course. You may try these too if you've tried those already mentioned. IOAMT is more into tape reading and more suited to one who makes frequent trades.

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Yes, I trade in one every day. There is free information available at:

menu

Erik Nelson has the best course online...I have been to them all including Frank, Alex,

Tom Alexander... but NONE can touch what you can learn from Erik.

 

Good Trading,

 

Koifan

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Yes, I just joined Kevin's room 3 weeks ago. I am very pleased with the room.

Kevin employs MP, channels as well as price action for his calls. He is a good

teacher.He tries to make trading calls where the odds are the greatest in your

favor...it is not a chat room...Keven answers all questions...and if they pertain to the group..

he will explain the question and the answer to all. The room has been very profitable

since I have been there. The cost is also VERY reasonable.

 

Regards,

 

koifan

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Yes, I just joined Kevin's room 3 weeks ago. I am very pleased with the room.

Kevin employs MP, channels as well as price action for his calls. He is a good

teacher.He tries to make trading calls where the odds are the greatest in your

favor...it is not a chat room...Keven answers all questions...and if they pertain to the group..

he will explain the question and the answer to all. The room has been very profitable

since I have been there. The cost is also VERY reasonable.

 

Regards,

 

koifan

 

THANKS KoiFan,

I paid for one month to see if it would be a fit. And I'll admit, I have not attended everyday, just off and on cause I was distracted with another trading room that trades soley on fibs, but I did stay the entire afternoon Huddy session on 5/20/10. I must say, if I remembered correctly, the few trades he called were all winners.

 

At first, I was a little intimidated and overwhelmed with MP and didnt understand and thought the concept couldnt give an exact entry point, but after a short time in Huddy's room, I now understand why he uses other traditional charts to make entry based on MP.

 

Koifan, what charting software you use and what trading DOM you use? Cause I see that Huddy uses Ensign for charting. If you uses Ensign with a paid data feed, you must have a trading DOM with a different data feed, then wouldnt the timing of the actual trade be off little due to different data feeds? or the difference is so minor, its not a factor?

 

The only reason I ask is that I have always used Ninja with a broker account tied into Ninja charts. So switching to Ensign with no broker trading DOM attached to charts is all new to me...

 

BTW, I am considering Huddy's lifetime membership, its a pretty good deal I think....

 

Please let me know, Thanks KoiFan !

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Hi ...I use IRT...Kevin is also going to be using IRT...from my limited experience with

Ninja...the charts are nice...BUT it's a huge memory hog. I am astounded as to

how much memory it requires. When my IRT is running several tick charts along with

a couple MP charts...it is using about 10% of the memory Ninja requires.

My charts never froze last week...you can use some brokers data to run IRT futures charts.

If you want stocks...you need esig, IQ or something else.I use IQfeed.

Check out a trial on IRT...they also have the best MP charts online bar NONE.

 

Hope this answers some questions.

 

Koifan

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How come you keep jumping from room to room Koifan...? I'm curious...what happened to Reza and Eric......where they not profitable or was the room not a match for you ?

 

 

I too would like to further my MP knowledge but not sure which room would be right for me..Thanks for your feedback....

 

Marker - could you tell us more about your one month trial....was it educational or just posting of trades

 

JE

Edited by JohnE

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I don't know who Reza is...and Erik no longer has a room online...I just happened

to come across one of Kevin's webinars...and liked what I saw and heard. Pay for a month

and find out for yourself. I know the profile...but I am learning other things from Kevin.

 

Regards

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How come you keep jumping from room to room Koifan...? I'm curious...what happened to Reza and Eric......where they not profitable or was the room not a match for you ?

 

 

I too would like to further my MP knowledge but not sure which room would be right for me..Thanks for your feedback....

 

Marker - could you tell us more about your one month trial....was it educational or just posting of trades

 

JE

 

 

 

JE,

 

Well, to be honest, I did not take full advantage of my one month, that is why I signed up again. Like I wrote earlier, I was distracted with another live room that trades on the 50% Fib retracements.

 

I dont know what everyone's feelings on fib's, but the way I see it, you can make a fib argument on every bar that is on the chart? it seems like after the move has been made, you can find a fib that worked out....I do want to believe in the fib method, but to me, its overtrading. Correct me if i'm wrong, but it actually seems you can make a fib argument anywhere on the chart....

 

That is why I REALLY want to learn MP. MP live rooms out there are limited, but it seems that Channel-Trading.com might have something. From the few reviews out there in web space, I have heard no complaints, only positives. And from my very limited time in the room, all his trades were big winners or very tiny stop outs.

 

I will let you know how it goes.....I'll be in Huddy's room tomorrow, so hope it goes well.....

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Hi ...I use IRT...Kevin is also going to be using IRT...from my limited experience with

Ninja...the charts are nice...BUT it's a huge memory hog. I am astounded as to

how much memory it requires. When my IRT is running several tick charts along with

a couple MP charts...it is using about 10% of the memory Ninja requires.

My charts never froze last week...you can use some brokers data to run IRT futures charts.

If you want stocks...you need esig, IQ or something else.I use IQfeed.

Check out a trial on IRT...they also have the best MP charts online bar NONE.

 

Hope this answers some questions.

 

Koifan

 

 

KoiFan,

 

Did Kevin say he was going to be switching to IRT soon?

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He is using it now...but shows it live intermittently...ask him when he is going to switch.

He has templates for his charts on 3 different platforms...IRT just has better MP's.

 

RR

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Ok, its lunch time chop now and here is my morning review of Channel-Trading.

 

Damn pretty good, very conservative. He just sits and waits for the trend lines and MP to form an entry area that gives a very very high probability entry. He nailed the 1st one at 1083.75 short at 8:13am pacific time, scaled all the way to his predefined target of 1080.75-1080.50....nice call on his part, no stress trade :). He also called one during lunch and said not to take it due to lunch time zone, but it was a quick winner as well....he also posts his trades on twitter pretty quick too, so you can see the trades as they happen if your not in the room ( Kevin Hudson (channeltrading) on Twitter ).

 

I have to admit, if I was in my other live trade room that uses fibs, I would have been chopped around with at least 8 trade in the morning so far....overtrading, yuck....:crap:

 

more to come....

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there are trades to take if you have more experience....but Kevin will call safer trades for the room...but he explains the progress of the profile while it develops.

 

R

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there are trades to take if you have more experience....but Kevin will call safer trades for the room...but he explains the progress of the profile while it develops.

 

R

 

I hope to be one of those experienced ones. Hope Huddy can get me there.....

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Im new in Huddy's room, but from what KoiFan and the room shows, he uses Ensisn mainly, but he did say he also has IRT and Ninja charts up. He says he likes all 3 and all of them have their pluses.....but I think I will end up moving towards Ensign.

 

I guess you can record the session on your own. He uses GoToMeeting. I have full version of Camtasia Studio Recording platform. I use it to record Huddy on certain questions I ask.....

 

The day is almost done, and there were about 3 trades, all were small scale winners in this choppy day.....he stalks the trade....he is methodical and sits and sits and then jumps on the perfect high probability entry....love it so far.....

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Trade Angle (Trade Angle Strategies: TAS is a systems developer of Automated Systems and Analytical Tools) is also a Market Profile based trading room. They have several MP based indicators which they use. I have also logged some time in their room and like it.

 

I have also logged time in Alternating Symmetry ("Market Profile" Education Trading Concepts Strategies and Techniques for Equity Emini traders) and took the educational course offered. Erik Nelson was a great teacher and had a great understanding of MP.

 

Hope this helps,

 

Mike

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