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What was ES Value Area on the 2010-11-01 (YYYYMMDD)
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What was ES Value Area on the 2010-11-01 (YYYYMMDD)

  #21 (permalink)
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LukeGeniol View Post
I don't know how do u use it and if u find it useful, but in my view MP is an old good tool for the time steidlmayer invented it, but not more actual for today markets. Now there are more powerfull tools, starting from volume profile, vwap with standard deviation......etc...ie statistics applied to volumes.

The simple, old tools sometimes work better than the sophisticated methods. All of them rely more or less on self-fulfilling prohepcy, so in the end it comes down to the question of how many traders use them.

The institutional guys are lazy, so they won't touch anything which is not easy. Look at those antiquated floor pivots, which are at best a precursor of POC and value area. They still work, because they are simple.

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  #22 (permalink)
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LukeGeniol View Post
I don't know how do u use it and if u find it useful, but in my view MP is an old good tool for the time steidlmayer invented it, but not more actual for today markets. Now there are more powerfull tools, starting from volume profile, vwap with standard deviation......etc...ie statistics applied to volumes.

Today's markets are not different from what they were 10 yeard ago. The auction process is still the same, has not changed one bit and will still be the same tomorrow. Most traders that i know who can program indicators all think they need to reinvent the wheel but the wheel has not changed one iota in how it behaves. There is no modern or old way to interpret price action. Market Profile is still up to date but i understand that someone who never took the time to master it may feel discomfort or distress in front of such a beast. The thing is that volume is present in a TPO based market profile. I trade with other people who use a TPO profile and do not feel as dinosaurs from an old era. I say this with all due respect and in all friendship.

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  #23 (permalink)
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@Fat Tails, I am a fan of design, and some pieces made by the masters of the '900 have much more charm than the present ones. :car:

Take your Pips, go out and Live.
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  #24 (permalink)
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Fat Tails View Post
The simple, old tools sometimes work better than the sophisticated methods. All of them rely more or less on self-fulfilling prohepcy, so in the end it comes down to the question of how many traders use them.

The institutional guys are lazy, so they won't touch anything which is not easy. Look at those antiquated floor pivots, which are at best a precursor of POC and value area. They still work, because they are simple.

If the markets were not moving in a somewhat orderly fashion we could not make money. We might be lucky for a while but in the end there would be no winners except our brokers. The only reason why we can win is because the level of entropy in the markets is lower than in a complete random system. The higher the entropy value the more disordered a system is and more difficult it would be to make educated guesses. That's not the case with markets. You can use different frame of reference to make educated guess which is again another proof there is some form of order in the markets. Winning (to me) is mostly a mtter of gauging which location is less risky to trade from. Market profile is just a tool that provides locations, key locations using a mathematical model. Lots of big traders have learned to trade using this tool. I don't think most are ready to learn more fancy tools to produce their payday. Why fixing something that already works.

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  #25 (permalink)
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Fat Tails View Post
The simple, old tools sometimes work better than the sophisticated methods. All of them rely more or less on self-fulfilling prohepcy, so in the end it comes down to the question of how many traders use them.

The institutional guys are lazy, so they won't touch anything which is not easy. Look at those antiquated floor pivots, which are at best a precursor of POC and value area. They still work, because they are simple.

Volume is there apart from who is using it, so no self-fulfilling prophecy at all.
Do you think the HTF algos are something non sophisticated for the lazy institutional guys?

Take your Pips, go out and Live.
Luke.
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  #26 (permalink)
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LukeGeniol View Post
Volume is there apart from who is using it, so no self-fulfilling prophecy at all.
Do you think the HTF algos are something non sophisticated for the lazy institutional guys?

The way i see it in my present stage is that volume is there because there is something more attractive going on 'there'. It's not volume occurs first then everything else second. There must be something 'there' first to attract volume. That's something most volume trakers forget to mention. It's my belief that if we would just follow volume alone we could not win in the long term. Volume is nice to see but there is more than that. I can trade without volume but i could not trade by simply watching volume. That in itself should speak volume (pun intended ).

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