Trading with Market Profile

[ab456 10]

Hi !

 

I am starting this journal because I am having a Hard Time in Trading! I am not being able to trade in a Systematic Manner. I have got a lot of ideas but they are scattered all over the place! I hope that starting this journal will force me to write down my Exact Trading Rules very clearly and follow them during real time market hours. I will be able to develop a step by step trading game plan with clear rules / guidelines, so that I do not get confused during real time trading action "which happens a lot currently with me". This journal will make me more responsible, accountable and honest with myself.

 

I am in the markets for the past 3-4 years. I have gone through a lot of study material in the form of books, Internet articles, trading forum material etc. I have found that Market Profile concepts based trading makes the most sense to me. But the biggest difficulty and the biggest edge with market profile is that it cannot be blindly automated in terms of 100 % mechanical rules “which is possible with many other kind of trading concepts".

 

I think one really needs to understand the Auction that is going on in that trading instrument, in order to use the MP concepts in trading. The questions like -

What is driving the market currently?

What is the state of the market?

What is the attempted direction?

Is the market facilitating the trade in that direction?

Which time frame players are in control?

What are the important Reference Points within which the current auction is going on ?

etc.

 

All these things form the Context / Background / Larger Picture, for that trading instrument. And all the buy sell decisions are very dependent on the Context.

I use NeoTicker and Market Delta as my main trading platform and Esignal as data feed.

 

I am not at all sure how long will I be able to update this journal, because I have a habit of procrastination and I try my best to find some reasons in order to avoid the work that I really needs to do ! This is part of my current behavior which is having a very severe negative impact on my life. But still, I would definitely try to write at least 1 post a day for the next few days. Let us see how it goes

 

Any kind of comments or feedback is most welcome. Please feel free to ask or say anything you wish.

 

Regards

[slick60 10]

Hi !

 

I am starting this journal because I am having a Hard Time in Trading! I am not being able to trade in a Systematic Manner. I have got a lot of ideas but they are scattered all over the place! I hope that starting this journal will force me to write down my Exact Trading Rules very clearly and follow them during real time market hours. I will be able to develop a step by step trading game plan with clear rules / guidelines, so that I do not get confused during real time trading action "which happens a lot currently with me". This journal will make me more responsible, accountable and honest with myself.

 

I am in the markets for the past 3-4 years. I have gone through a lot of study material in the form of books, Internet articles, trading forum material etc. I have found that Market Profile concepts based trading makes the most sense to me. But the biggest difficulty and the biggest edge with market profile is that it cannot be blindly automated in terms of 100 % mechanical rules “which is possible with many other kind of trading concepts".

 

I think one really needs to understand the Auction that is going on in that trading instrument, in order to use the MP concepts in trading. The questions like -

What is driving the market currently?

What is the state of the market?

What is the attempted direction?

Is the market facilitating the trade in that direction?

Which time frame players are in control?

What are the important Reference Points within which the current auction is going on ?

etc.

 

All these things form the Context / Background / Larger Picture, for that trading instrument. And all the buy sell decisions are very dependent on the Context.

I use NeoTicker and Market Delta as my main trading platform and Esignal as data feed.

 

I am not at all sure how long will I be able to update this journal, because I have a habit of procrastination and I try my best to find some reasons in order to avoid the work that I really needs to do ! This is part of my current behavior which is having a very severe negative impact on my life. But still, I would definitely try to write at least 1 post a day for the next few days. Let us see how it goes

 

Any kind of comments or feedback is most welcome. Please feel free to ask or say anything you wish.

 

Regards

 

ab456

You say that you have read a lot of material and studied market profile. The questions you are asking here should have been answered in your studies. I do not know what you have read. For sure anybody in MP has read Dalton's 2 books, Mind over Markets and Markets in Profile. Google Peter Steidlmayer and Robin Mesch for material. They will give you a more definitive spin on MP than Jim Dalton.

Hope this helps

 

slick 60