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  #25 (permalink)

Honolulu, Hawaii
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
bluemele's Avatar
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,835 received

bobbyacim View Post
I want to expand on an observation I have been formulating ever since my trading has taken a positive turn. I sincerely hope you can sense the humble tone in which it is said.
Why do I need to qualify it?

Because in my old thread “ten thousand in education and still not profitable” I felt I was being bashed, insulted, ridiculed and dismissed by the majority just because I was musing and pointing out some very important aspects of the Trading Education industry and really questioning if any of this so-called training had resulted in anyone at all achieving profitability long term.

I even got a lashing from Big Mike, reprimanding me for not “listening to people who were trying to help me” Well, my response to that statement is, after over 9000 views, no one has still been able to come forward on this forum with a track record of trading success for more than a few months. What I have been offered by these same people is YET another new indicator, another new Method, etc. It seems to me Mike that for someone to “help you” they should have helped themselves first, don’t you think?

However, what over 9000 views tell me is that my initial questioning and inquiry resonated with a lot of people on this forum regardless of how dismissive they reacted.

In conclusion, it looks to me that there are a lot of unprofitable, frustrated traders out here that feel threatened if someone comes along and rattles their belief baseline that the key to trading success is more education, more indicators, better settings, more timeframes, yet another squiggly line, etc ,etc.

I was one of them for the past six years! Wasting years and money chasing yet another new indicator, a better indicator, more, more, more of the same, is just evolutionary.

What Peter Steidlmayer created in market profile analysis was revolutionary! Progressive People recognized its value right away and as the demand grew, Peter quit trading and started Market Logic School back.

And yet for all the practitioners and devotees of price action on this forum how have been ignored and ridiculed as I have, take comfort, YOU WERE RIGHT ALL ALONG!

Fore, Market Profile IS PRICE ACTION within an underlying statistical model that helps you anticipate where the price is in relationship to the whole market itself. That is why it is so powerful.

I would like to post the whole Market profile manual put out by CBOT in the 90's,It is a six -part study guide, I have it id PDF format and just finished reading it for the third time. I think it will help lay down the foundation of market Profile analysis for does who are ready to move on to a NEW approach to trading.

For how to use it in a practical trading environment you will have to take a study course on that.
I did an intensive market profile bootcamp by profiletraders.com twice in order to grasp the techniques on how to use.

Talk soon....

I agree with some of what you said. But, I studied MP and read a bit for a few months and honestly, after following a "Master" MP trader for several weeks, I guess I just don't get it. To me it is as effective as a 'bunch of squiggley lines" etc.. Why do you see so much value in it for setups or whatever? A tick charge scrunched together will show you the same thing w/ an order book DOM no?

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