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TEN-THOUSAND IN EDUCATION, FINALLY PAYING OFF

  #150 (permalink)

new york
 
Trading Experience: Intermediate
Platform: ninjatrader
Broker/Data: mb trading
Favorite Futures: 6e
 
bobbyacim's Avatar
 
Posts: 184 since Feb 2010


Trafford View Post
Bobby,

One one hand its is strange that you have gone from using MP to indicators, but not that strange I guess if it did not work for you. I went from using indicators to MP to indicators to MP to indicators then to MP, indicators, Price Action, and Order flow. The best use of MP in my humble opinion is that it shows you structure of the market and from the structure you look for opportunities in which to trade, that is it, it is the markets live database not a trading system. It allows you to see the market in 3D, price develops on a vertical and horizontal axis. It allows you to see high volume nodes, single prints, buying tails and selling tales, balance and imbalance as well as previous value areas and developing value areas. But I struggled to trade using MP alone. You need other tools to make trade decisions A number of people on this site have very good tools such as Fat Tails, GOMI, and DionysusToast, and FulcrumTrader(Chris) just to mention a few. Teh key is as Mike has alluded to is to make them your own that may sound esoteric but it its a bit like that. I would also read Outlier by Malcolm Gladweel and also Blink.

Good luck and never give up success is alawys around the corner, I just do not know whcih corner.

Thanks for the confidence boost
Yes, I did like Market profile for the top down view it offered of the market in play, master Reza was using it solely for trading, however by itself it was not enough for me to trade succesfully. Went back to the books and read Peter Steidlmayer' original course(from the 1980's) and even he stated that in of itself market profile was NOT ENOUGH to trade off of.

Hey, I did 21 Live trades with a stoploss of $180 for 3 contracts + commision and I only got into trouble within the last 8 trades.

I sincerely believe we all have it in us to succeed at this game, the question is when!

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