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Market profile

  #1 (permalink)
nb10071981
Daytona beach Florida
 
Posts: 84 since Jun 2017
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Is it possible to program alerts for specific patterns

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  #2 (permalink)
 taes7t 
Anchorage Alaska
 
Experience: Intermediate
Platform: Sierra Chart Thinkorswim
Trading: Emini ES
Posts: 8 since Oct 2017
Thanks Given: 7
Thanks Received: 2

"Is it possible to program alerts for specific patterns"
In a word, no, but anything is possible. I wouldn't recommend trying to program alerts in market profile.
Market Profile is a method that maps price, time, and volume. Big picture Market Profile experts trade value--not price--an overall understanding of the market. Value usually leads price, but sometimes price leads value. You might find Jim Dalton's book "Mind Over Markets" a good place to start, if you haven't already. Mr. Dalton is 77, and mentioned that he might be giving courses next spring--which I'd highly recommend. Also, jdaltontrading.com is an excellent resource for copious Market Profile information.
Best regards,
Tim

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  #3 (permalink)
nb10071981
Daytona beach Florida
 
Posts: 84 since Jun 2017
Thanks Given: 35
Thanks Received: 32



taes7t View Post
"Is it possible to program alerts for specific patterns"

In a word, no, but anything is possible. I wouldn't recommend trying to program alerts in market profile.

Market Profile is a method that maps price, time, and volume. Big picture Market Profile experts trade value--not price--an overall understanding of the market. Value usually leads price, but sometimes price leads value. You might find Jim Dalton's book "Mind Over Markets" a good place to start, if you haven't already. Mr. Dalton is 77, and mentioned that he might be giving courses next spring--which I'd highly recommend. Also, jdaltontrading.com is an excellent resource for copious Market Profile information.

Best regards,

Tim



I have read mind over markets and markets in profile over four times each. And am continually listening to them through my iPhones voice over app. Best trading books I've ever gotten my hands on. I find that applying a mean reversion technique once price gets away from value is fairly consistent. Do you trade using the profile? It would be nice to find another profile trader to bounce ideas off of. I have pages of different setups I've used the profile to define risk with.

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  #4 (permalink)
 
Neo1's Avatar
 Neo1 
Christchurch, New Zealand
 
Experience: Beginner
Platform: SC
Broker: IB, BC, Dx Feed
Trading: US Equities
Posts: 428 since Jul 2014
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nb10071981 View Post
Is it possible to program alerts for specific patterns

Ofcourse it is.

"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
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  #5 (permalink)
nb10071981
Daytona beach Florida
 
Posts: 84 since Jun 2017
Thanks Given: 35
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Neo1 View Post
Ofcourse it is.



Where might I find instructions on how to do this? Thanks

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  #6 (permalink)
 taes7t 
Anchorage Alaska
 
Experience: Intermediate
Platform: Sierra Chart Thinkorswim
Trading: Emini ES
Posts: 8 since Oct 2017
Thanks Given: 7
Thanks Received: 2

"I have read mind over markets and markets in profile over four times each. And am continually listening to them through my iPhones voice over app. Best trading books I've ever gotten my hands on. I find that applying a mean reversion technique once price gets away from value is fairly consistent. Do you trade using the profile? It would be nice to find another profile trader to bounce ideas off of. I have pages of different setups I've used the profile to define risk with."

I'm no Market Profile expert, but I do use it every day with my trading. I think your approach with mean reversion is spot on; 85% of the time, markets are rotational (have mean reversion), which occurs when value is leading price. When price leads value, in a trending market, I look for single time-framing, observe volume and tempo.
According to Mr. Dalton, each day is unique; so there is no specific patterns, but there are similar patterns. And all patterns and nuances need to be put into context.
Do you fill out the daily worksheet? (The worksheet from jdaltontrading.com) I've done this for about 9 months and find it most helpful.
Best regards,
Tim

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  #7 (permalink)
 
Neo1's Avatar
 Neo1 
Christchurch, New Zealand
 
Experience: Beginner
Platform: SC
Broker: IB, BC, Dx Feed
Trading: US Equities
Posts: 428 since Jul 2014
Thanks Given: 471
Thanks Received: 531


nb10071981 View Post
Where might I find instructions on how to do this? Thanks

You are not going to find specific instructions.

If you're using SC, then you'll need to utilize ACSIL + simple alert formals.

"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
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  #8 (permalink)
nb10071981
Daytona beach Florida
 
Posts: 84 since Jun 2017
Thanks Given: 35
Thanks Received: 32


taes7t View Post
"I have read mind over markets and markets in profile over four times each. And am continually listening to them through my iPhones voice over app. Best trading books I've ever gotten my hands on. I find that applying a mean reversion technique once price gets away from value is fairly consistent. Do you trade using the profile? It would be nice to find another profile trader to bounce ideas off of. I have pages of different setups I've used the profile to define risk with."



I'm no Market Profile expert, but I do use it every day with my trading. I think your approach with mean reversion is spot on; 85% of the time, markets are rotational (have mean reversion), which occurs when value is leading price. When price leads value, in a trending market, I look for single time-framing, observe volume and tempo.

According to Mr. Dalton, each day is unique; so there is no specific patterns, but there are similar patterns. And all patterns and nuances need to be put into context.

Do you fill out the daily worksheet? (The worksheet from jdaltontrading.com) I've done this for about 9 months and find it most helpful.

Best regards,

Tim



I've visited jdaltontrading.com a couple times and never noticed the worksheet. Is it similar to the checklist found in mind over markets? Summarizing attempted direction(rotation factor, range extension, tails, buying/selling composite)
Directional performance (volume, value area placement, value area width) ? I tend to spectate when the market exhibits range extension(trending) since this is estimated to only be 20% of the time. I know I'm missing the bigger moves, but find with the leverage futures offer, half of the bracket is sufficient. Im only 6 months into trading, but I truly enjoy the process. I'm sure with time I will become comfortable trading value area breakouts.

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  #9 (permalink)
 taes7t 
Anchorage Alaska
 
Experience: Intermediate
Platform: Sierra Chart Thinkorswim
Trading: Emini ES
Posts: 8 since Oct 2017
Thanks Given: 7
Thanks Received: 2


nb10071981 View Post
I've visited jdaltontrading.com a couple times and never noticed the worksheet. Is it similar to the checklist found in mind over markets? Summarizing attempted direction(rotation factor, range extension, tails, buying/selling composite)
Directional performance (volume, value area placement, value area width) ? I tend to spectate when the market exhibits range extension(trending) since this is estimated to only be 20% of the time. I know I'm missing the bigger moves, but find with the leverage futures offer, half of the bracket is sufficient. Im only 6 months into trading, but I truly enjoy the process. I'm sure with time I will become comfortable trading value area breakouts.

I think when you become a member of the website, the premium content is accessed for free; from there you should be able to access the premium content where you will find the essential trader worksheet. If you haven't done so already, become a member and explore the website thoroughly--it will be well worth yours or anybody's time who are unfamiliar with Market Profile. Also, taking Jim Dalton's Mastery Series is worth every cent you'll pay for it.
Best regards,
Tim

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  #10 (permalink)
mamba618
New York
 
Posts: 2 since Oct 2017
Thanks Given: 0
Thanks Received: 0


Hello everyone,
I'm a student of Jim Dalton and Market profile, it is very fascinating to view the market participants behaviours through profile lense.
I do trade Index Futures, GC, CL or anything that moves using profile concepts.

I remember someone had put together a package to highlight core profile patterns but I have not explored it, potentially highlights core patterns in the profile.

Mamba618

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Last Updated on July 27, 2018


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