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Reaver

Does anyone here use MP, Auction Market Theory for anything besides Intraday Trading?

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Just wondering, as swing trading is what I'll mostly be limited to while working full time, just seeing if anybody else use a longer term plan or if it was mostly intraday here in the Lab. Thanks

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It most certainly can be used for longer term trading. I think MrPaul would be a good person to talk to about swing trading and implementing some MP techniques into it. He's definitely in more of a swing trader type of mindset than I.

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yeah good point, I'm taking the Cisco course and it has alot of applications for swing trading, etc, but I wanted to be able to touch base with someone who had some ideas and/or experience. Thanks for the reference Tin.

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I day trade only but I know of several swing and day traders who use MP exclusively to trade the bonds. They are expert MP traders and I have seen them trading... its amazing how they identify S&R levels with MP.

 

One interesting element I noticed about these MP traders were:

 

1. They really trusted their MP metholodgy. They bought on a declining market at a key level and they were able to hold on to their positions much longer because of their faith in their method.

2. They were able to identify if a market had made its low or high for the day. It still amazes me how quick they were able to see this.

3. Their entries always provided them with good risk:reward ratios.

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  Reaver said:
Just wondering, as swing trading is what I'll mostly be limited to while working full time, just seeing if anybody else use a longer term plan or if it was mostly intraday here in the Lab. Thanks

 

Hi Reaver (and everyone else), :-)

 

(I'm new to the board - read my profile to learn more about me).

 

I'm in your same boat - trying to develope a swing trading method (using Profiles) while working a day job.

 

I use MP to identify Supp/Res levels. Problem I'm having now it learning to (and stop procrastinating) put in logical orders to act on those levels while I'm not around to watch.

 

One idea I had was to use "Order-Cancels-Order" orders that I could enter in the morning and then just check back later in the day to see what happened.

 

Here's my conundrum using some data that relevant to what going on now:

 

the ES mini is looking lofty to me(1455). So, like many traders, I'm expecting a pullback to 1436 area, which is by my calucations a nice longer-term upper VA edge. I want to get long here.

However, if it begins to trade lower than 1436, now it has entered the VA range which (according to MOM) would mean it might trade all through the entire range - taking it down into the low 20's. At which point now, I want to be out (or short).

Add-in a little usual market chop and you can see my delemna. I feel as though I should be there during the day, watching to pull the trigger in the appropriate direction depending on what I see.

 

I guess this is all part of being a newbie.

 

Oh, and this might be redundant, but I found that after studying Don's course for a while, the Mind Over Markets (MOM) book makes a lot of sense and helps tie all that course work into a useable framework.

 

- Steve

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  Soultrader said:
I day trade only but I know of several swing and day traders who use MP exclusively to trade the bonds. They are expert MP traders and I have seen them trading... its amazing how they identify S&R levels with MP.

 

One interesting element I noticed about these MP traders were:

 

1. They really trusted their MP metholodgy. They bought on a declining market at a key level and they were able to hold on to their positions much longer because of their faith in their method.

2. They were able to identify if a market had made its low or high for the day. It still amazes me how quick they were able to see this.

3. Their entries always provided them with good risk:reward ratios.

 

Well put Soultrader! I do pretty well with #'s 1 and 3 but # 2...wow...what clued them onto this? Must be something with excess at a previous value area/poc? Were these guys previous floor traders? You using MP in your trading?

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  Soultrader said:
I day trade only but I know of several swing and day traders who use MP exclusively to trade the bonds. They are expert MP traders and I have seen them trading... its amazing how they identify S&R levels with MP.

 

One interesting element I noticed about these MP traders were:

 

1. They really trusted their MP metholodgy. They bought on a declining market at a key level and they were able to hold on to their positions much longer because of their faith in their method.

2. They were able to identify if a market had made its low or high for the day. It still amazes me how quick they were able to see this.

3. Their entries always provided them with good risk:reward ratios.

 

Hi Soultrader,

 

Thanks for sharing your experince of these MP traders.

A few questions as Im trying to imagin there process in my mind and some more details from you might help me do that better...thanks.

 

A. Were you able to determin if their analysis was mostly based on TPO profile or Volume profile or were they using other indicators to help?

 

B. Were they using daily structures of the 30m period or were they blending days in a discretionary manner???

 

C. Did you get a feel that most of their analysis and decision process was based on s/r levels extracted from MP??? ....this is what I have personally noticed with expert MP users. just wondering if that was your experience.

 

I will say this....from my observations. MP for some is the holy grail and for others its useless. currently there is another thread on this site that has some that have not been able to make use of MP, its not because they are lacking intelligence or that they are lazy, I believe they are being honest about their claims-- at the same time there are traders that I know personally, and on this forum that live by MP and are very successful.

 

There is a old saying that goes something like this...I allways butcher saying, so parden me.

" If you look for something you will find it ". i.e. what ever you look for with faith you will see. This is what makes statistics or statistical findings so amusing.

 

******************

 

By the way a couple of minutes after my post i realized that your(SoulT) post was made back in 2007. I got fooled into thinking its arecent post because the previous post to mine said yesterday and I dont expect you to remeber the details of your experience from 3 years ago. However just incase you do...Im all ears.

Edited by Mustang-

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Do you guys realize that before "i trade's" post today, the last post in this thread was almost 2 1/2 years ago? I am not sure if you will get any meaningful feedback on your questions on a thread this old.

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  sevensa said:
Do you guys realize that before "i trade's" post today, the last post in this thread was almost 2 1/2 years ago? I am not sure if you will get any meaningful feedback on your questions on a thread this old.

 

Yeah I kinda figured that Sevensa but it was worth a shot that Soultrader might respond.

Hey, you found it didn't you? ;)

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I am working to add this to my toolbox. One of the Tradestation technical people has rewritten their intraday "Price Distribution" activity bar to use days as the unit. So you can use weekly or monthly bars (I am using this). It provides a very interesting perspective. The only glitch I have seen so far is that the value area sometimes doesn't seem to plot correctly on the current bar under construction. I claim no real MP expertise although I am in the process of learning more about it as I see it fitting nicely with the Wyckoff/VSA paradigm regarding auction markets. I am currently reading Mind over Markets and will move to Markets in Profile which covers this idea.

 

The indicator is called PriceDistributionWeek (along with the number prefix) at the Tradestation Forums.

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  traderveritas said:

The indicator is called PriceDistributionWeek (along with the number prefix) at the Tradestation Forums.

 

I tried a search under Price DistributionWeek and found no such indicator. Could you post the TS link, or PM me with the TS forum link.

 

Thanks

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