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.

dah7

Market Profile Trading Room?

Recommended Posts

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.

Share this post


Link to post
Share on other sites
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?

Share this post


Link to post
Share on other sites
Guest forsearch

ioamt.com is one that comes to mind.

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites

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:)

Share this post


Link to post
Share on other sites
Guest Traderprofesional

JPJ is the best JP is a great trader

Share this post


Link to post
Share on other sites
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

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites
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 !

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites
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.....

Share this post


Link to post
Share on other sites
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?

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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....

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites
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.....

Share this post


Link to post
Share on other sites

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.....

Share this post


Link to post
Share on other sites

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

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

    • Date: 4th April 2025.   USDJPY Falls to 25-Week Low as Safe Havens Surge and Markets Eye NFP Data.   Safe haven currencies and the traditional alternative to the US Dollar continue to increase in value while the Dollar declines. Investors traditionally opt to invest in the Japanese Yen and Swiss Franc at times of uncertainty and when they wish to avoid the Dollar. The Japanese Yen continues to be the best-performing currency of the week and of the day. Will this continue to be the case after today’s US employment figures?   USDJPY - NFP Data And Trade Negotiations The USDJPY is currently trading at a 25-week low and is witnessing one of its strongest declines this week. The exchange rate is no longer obtaining indications from the RSI that the price is oversold. The current bullish swing is obtaining indications of divergence as the price fails to form a higher high. Therefore, short-term momentum is in favour of the US Dollar, but there are still signs the Japanese Yen can regain momentum quickly.       USDJPY 1-Hour Chart     The price movement of the exchange rate in both the short and long term will depend on 3 factors. Today’s US employment data, next week’s inflation rate and most importantly the progress of negotiations between the US and trade partners. If today’s Unemployment Rate increases above 4.1%, the reading will be the highest seen so far in 2025. Currently, the market expects the Unemployment Rate to remain at 4.1% and the Non-Farm Payroll Change to add 137,000 jobs. The average NFP reading this year so far has been 194,000.   If data does not meet expectations, US investors may continue to increase exposure away from the Dollar and to other safe-haven assets. Previously investors were expecting only 2 rate cuts this year from the Federal Reserve, however, most investors now expect up to 4. If today’s employment data deteriorates, economists advise the Federal Reserve may opt to cut interest rates sooner.   Therefore, it is important to note that today’s NFP will influence the USDJPY to a large extent. Whereas in the longer-term, trade negotiations will steal the spotlight. If trade partners are able to negotiate the US Dollar can correct back upwards. Whereas, if other countries retaliate and do not negotiate the US Dollar will remain weak.   USDJPY - The Yen and the Bank of Japan The Japanese Yen is the best-performing currency in 2025 increasing by 6.70% so far. Risk indicators such as the VIX and High-Low Indexes continue to worsen which is positive for the JPY as a safe haven currency.   Yesterday Japan released March business activity data that came in weaker than expected: the Services PMI dropped from 53.7 to 50.0, while the Composite PMI fell from 52.0 to 48.9. The data is the lowest in two years. These figures could hinder further interest rate hikes by the Bank of Japan. However, most economists still expect the Bank Of Japan to hike at least once more. It's also important to note, that even if the BOJ opts for a prolonged pause, a cut is not likely.   Additionally, a 24% tariff was imposed on Japanese exports to the US yesterday. Prime Minister Mr Ishiba expressed disappointment over Japan's failure to secure a tariff exemption and pledged support measures to help domestic industries manage the impact.   Key Takeaway Points: US Dollar Weakens, Safe Havens Rise: The Japanese Yen and Swiss Franc continue to gain as investors shift away from the US Dollar. USDJPY Under Pressure: USDJPY trades at a 25-week low, with short-term momentum favouring the Dollar but long-term trends pointing to potential Yen strength. NFP and Unemployment Crucial: Today’s Non-Farm Payrolls and unemployment figures will heavily influence short-term USDJPY. On the other hand, trade negotiations will dictate longer-term trends. Japan Faces Mixed Signals: Despite weak PMI data and new US tariffs, the Japanese Yen remains strong. Economists expect at least one more rate hike from the Bank of Japan, but no cuts are in sight. 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.
    • YUM Yum Brands stock, nice breakout with volume +34.5%, from Stocks to Watch at https://stockconsultant.com/?YUM
    • Date: 3rd April 2025.   Gold Prices Pull Back After Record High as Traders Eye Trump’s Tariffs.   Key Takeaways:   Gold prices retreated after hitting a record high of $3,167.57 per ounce due to profit-taking. President Trump announced a 10% baseline tariff on all US imports, escalating trade tensions. Gold remains exempt from reciprocal tariffs, reinforcing its safe-haven appeal. Investors await US non-farm payroll data for further market direction. Fed rate cut bets and weaker US Treasury yields underpin gold’s bullish outlook. Gold Prices Retreat from Record Highs Amid Profit-Taking Gold prices saw a pullback on Thursday as traders opted to take profits following a historic surge. Spot gold declined 0.4% to $3,122.10 per ounce as of 0710 GMT, retreating from its fresh all-time high of $3,167.57. Meanwhile, US gold futures slipped 0.7% to $3,145.00 per ounce, reflecting broader market uncertainty over economic and geopolitical developments.   The recent rally was largely fueled by concerns over escalating trade tensions after President Donald Trump unveiled sweeping new import tariffs. The 10% baseline tariff on all goods entering the US further deepened the global trade conflict, intensifying investor demand for safe-haven assets like gold. However, as traders locked in gains from the surge, prices saw a modest retracement.   Trump’s Tariffs and Their Market Implications On Wednesday, Trump introduced a sweeping tariff policy imposing a 10% baseline duty on all imports, with significantly higher tariffs on select nations. While this move was aimed at bolstering domestic manufacturing, it sent shockwaves across global markets, fueling inflation concerns and heightening trade war fears.   Gold’s Role Amid Trade War Escalations Despite the widespread tariff measures, the White House clarified that reciprocal tariffs do not apply to gold, energy, and ‘certain minerals that are not available in the US’. This exemption suggests that central banks and institutional investors may continue favouring gold as a hedge against economic instability. One of the key factors supporting gold is the slowdown that these tariffs could cause in the US economy, which raises the likelihood of future Federal Reserve rate cuts. Gold is currently in a pure momentum trade. Market participants are on the sidelines and until we see a significant shakeout, this momentum could persist.   Impact on the US Dollar and Bond Yields Gold prices typically move inversely to the US dollar, and the latest developments have pushed the dollar to its weakest level since October 2024. Market participants are increasingly pricing in the possibility of a Fed rate cut, as the tariffs could weigh on economic growth.   Additionally, US Treasury yields have plummeted, reflecting growing recession fears. Lower bond yields reduce the opportunity cost of holding non-yielding assets like gold, making it a more attractive investment.         Technical Analysis: Key Levels to Watch Gold’s recent rally has pushed it into overbought territory, with the Relative Strength Index (RSI) above 70. This indicates a potential short-term pullback before the uptrend resumes. The immediate support level lies at $3,115, aligning with the Asian session low. A further decline could bring gold towards the $3,100 psychological level, which has previously acted as a strong support zone. Below this, the $3,076–$3,057 region represents a critical weekly support range where buyers may re-enter the market. In the event of a more significant correction, $3,000 stands as a major psychological floor.   On the upside, gold faces immediate resistance at $3,149. A break above this level could signal renewed bullish momentum, potentially leading to a retest of the record high at $3,167. If bullish momentum persists, the next target is the $3,200 psychological barrier, which could pave the way for further gains. Despite the recent pullback, the broader trend remains bullish, with dips likely to be viewed as buying opportunities.   Looking Ahead: Non-Farm Payrolls and Fed Policy Traders are closely monitoring Friday’s US non-farm payrolls (NFP) report, which could provide critical insights into the Federal Reserve’s next policy moves. A weaker-than-expected jobs report may strengthen expectations for an interest rate cut, further boosting gold prices.   Other key economic data releases, such as jobless claims and the ISM Services PMI, may also impact market sentiment in the short term. However, with rising geopolitical uncertainties, trade tensions, and a weakening US dollar, gold’s safe-haven appeal remains strong.   Conclusion: While short-term profit-taking may trigger minor corrections, gold’s long-term outlook remains bullish. As global trade tensions mount and the Federal Reserve leans toward a more accommodative stance, gold could see further gains in the months ahead.   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.   Andria Pichidi 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.
    • 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
×
×
  • Create New...

Important Information

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