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Steidlmayer's Market Profile Evolves: Volume Strips


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Steidlmayer's Market Profile Evolves: Volume Strips

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  #1 (permalink)
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In response to changing market conditions, Pete Steidlmayer has developed a new method to analyze the markets. Steidlmayer presents his recent research discussing the importance of understanding how price and volume databases as tools for market analysis have changed with the advent of electronic trading, and how these changes effect trading methodology. Pete himself, admits that the Market Profile legacy analysis of price and time has changed, and is not as effective as it was in the past.

Pete's new method is called Volume Strips, developed in response to changes in order flow, due to electronic trading, HFTs, algos, etc.

https://www.cmegroup.com/education/steidlmayer-volume-strips-video.html

"Volume Strips" is available, however, you have to be using CTS to use them. You have to go through Steven Hawkins, ( Pete's associate), to get set up.

Steven Hawkin's contact info:

hawk0101@hotmail.com

# 312.360.9466

CTS Futures contact info:

Tim Dare

c-773 653 1423
w- 312 447 5416

http://cts.sim.t4login.com/register/

tim@ctsfutures.com
www.ctsfutures.com

The volume strip application currently interfaces with T4(will be adding TT by the end of the year). Currently the annual lease is $350(will be going up in the future I believe) which can be paid via paypal or a credit card. There isn't much educational material (1 document covering key strokes of vol. strip and one document going over some of the theory), observation and self discovery will be your path to success. They don't offer any trials or an interface for sim trading.

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Thanks TT, there is some discussion of that in this thread as well:

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Great, now I will finally make my billions! wooohooo!!! Just need to sign up! haha...

Interesting how 'edges' change.

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  #5 (permalink)
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Some things can't change, namely market character-based methodologies. That is, there are some things so fundamental to what markets are that they are existential (they will always work). Sadly, very few understand this.

'Edges' are things you can fall off of


bluemele View Post
Great, now I will finally make my billions! wooohooo!!! Just need to sign up! haha...

Interesting how 'edges' change.


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Can you post some screen shots of these in action?

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"Steidlmayer's Market Profile Evolves: Volume Strips"

I think J.P. Steidlmayer has evolved more than Market Profile. Being in the thick of things (Chicago Board of Trade member for over 40 years) and knowing what changes may be in the pipeline, in how the exchange(s) handle the data, might give a guy a little more lead-time to come up with Avant-garde techniques.

From what was allowed to "leak out" on Volume Strips since last summer to date, I don't see anything new. The best I can ascertain is, J.P. Steidlmayer may believe he has found a way to trade the jack rabbiting peak volume prices (PVP) or points of control (POC) of his Market Profile or the generic price/volume histogram consistently on an intra-day basis. If he has, he will indeed receive my respect, although I will refrain from dancing in the street until "the book" is published.

There are many questions floating around the web about Steidlmayer's Volume Strips and very few answers, I for one would like to see someone actually post a screen shot of one of these mysterious strips. I'm beginning to believe I may see a bigfoot walk across my back yard before I see an elusive Steidlmayer's Volume Strip posted on the web.

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A screen of one mysterious Volume Strip.


Big Mike View Post
Can you post some screen shots of these in action?

Mike


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@zer0

Wouldn't you know it, all in the same day!!!

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zer0 View Post
A screen of one mysterious Volume Strip.

All fun aside, Thanks zer0 for posting the Volume Strip.

My minimal understanding of the Volume Strip is, it's a front-end application that allows a trader to trade predefined/user defined volume levels rather than price levels, with a simple click or two of a mouse. A crude example may be, submit an order to initiate a long position on an already know and charted PVP or POC (with volume of 5000 contracts) on a price histogram that was generated from the start of ET Session (note: price is "unimportant") and at the same time enter a sell order to close the long position at any price >(N) (note: price is "unimportant") when the volume exceeds 5000 contracts (next PVP/POC).

To do this, a trader must step outside the price chart and think of the market only as a volume on price histogram or something similar (not necessarily Market Profile) and devise methods of ascertaining movements of volume or maybe better put "areas" where new volume will enter the market and create a new high volume area, PVP/POC. I believe Steidlmayer's expression "the size/scope is huge" comes from his vision of converting legions of traders to think outside the price chart and get on board with his Volume Strip pasted on desktops around the world.

I think it's great!

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  #11 (permalink)
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Or Steidlmayer could just use GomMP

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  #12 (permalink)
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Your assessment is correct. That, indeed, is Steidlmayer's point and purpose. It is all about volume and immediacy. The here and now if you will. What are traders doing right now? That is, within statistically significant quantities, of course.

In extreme reductionist mode: A collective of traders make their bets at a price or small range, then after volume (liquidity/service) dries up, price has only one option - move. When price begins to accelerate, those traders that were wrong will need to close their positions and the market self-generates from there. New momentum orders enter the market driving it further; far away from the previous island distribution.

The next cycle begins, with the memory of a goldfish....


Cashish View Post
All fun aside, Thanks zer0 for posting the Volume Strip.

My minimal understanding of the Volume Strip is, it's a front-end application that allows a trader to trade predefined/user defined volume levels rather than price levels, with a simple click or two of a mouse. A crude example may be, submit an order to initiate a long position on an already know and charted PVP or POC (with volume of 5000 contracts) on a price histogram that was generated from the start of ET Session (note: price is "unimportant") and at the same time enter a sell order to close the long position at any price >(N) (note: price is "unimportant") when the volume exceeds 5000 contracts (next PVP/POC).

To do this, a trader must step outside the price chart and think of the market only as a volume on price histogram or something similar (not necessarily Market Profile) and devise methods of ascertaining movements of volume or maybe better put "areas" where new volume will enter the market and create a new high volume area, PVP/POC. I believe Steidlmayer's expression "the size/scope is huge" comes from his vision of converting legions of traders to think outside the price chart and get on board with his Volume Strip pasted on desktops around the world.

I think it's great!


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thanks to 'tigertrader' for the contact information and update ... I contacted Stephen Hawkins today and he indicated that they were not ready for 'prime time' as they continued to iron out issues in the T4 API; he did ask me to check in with him at the end of the month (I am assuming he was hopeful they would have worked out the kinks by then) ... a while back, Nate at CTS had given me Pete Steidlmayer's contact information and told me to contact him directly re 'volume strips'; I tried contacting him a few days ago & have not yet received a reply, so stumbling across the information posted here (through a Google search) was very helpful ... Stephen was very prompt in replying to my email inquiry.

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(not sure where this should be posted, but … ) would anyone have interest in further discussing Steidlmayer’s volume strips: concepts around, further intelligence about, similarities / differences with market profile, other volume studies, etc., etc.?

I have viewed his CME presentation (posted mid-august 2011) more than once and in the absence of the software itself (not ready for prime time according to Steidlmayer associate, Steven Hawkins) I am attempting to formulate a trading strategy around his ideas. JPS himself says that one should be able to trade at least 1 market using volume strip concepts without the software … at one point in the video he said (paraphrasing): nothing new to this idea, it’s not rocket science.

Once concern (of mine) is that the software is till not ready, despite JPS’s assertion in the video that it would be available by end of August, combined with (my) perception that the guys at CTS don’t appear to have any insight into what’s happening with the software (and they are supposed to be the launch partner; and Cunningham himself is on the patent application with JPS). Would anyone have any further insight? I spoke with Nate Ostrye, maybe there would be a better person at CTS to talk to?

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zer0 View Post
A screen of one mysterious Volume Strip.

Thank you for the post.

Whats up with the green highlight price?

I may have misunderstood what the strip is showing, but it looks to me to be a simple volume at price count? If so, this information is already available on MD Trader, CTS, OEC and other DOM displays.

Am I missing something? I will review the notes I made of the CME vid.

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Thanks for posting the link to this video. While I'm not a Profile purist, I do incorporate elements from volume/market profile into my own market perspective, so I'm always interested in presentations like this one.

Okay, Tony Robbins he is not, but I enjoyed the presentation. Sure it felt like I had tripped on that corner of the rug that is always curling up and then fell into one of Steidlmayer's thought clouds, but that's okay. He knows exactly what he's talking about, even if I (or his audiences) don't. I actually think I came away with a rudimentary grasp on what he was suggesting. I'm interested to see it develop and if my understanding is accurate.

Pete also played to my market interests that go beyond the X's and O's, or in our case the bids and asks. I really enjoyed Pete just talking about markets and trading and the pit and losing money on technical errors. Good times

One of my favorite comments: "The rest is self-explanatory." So says the guy who formalized Market Profile and has been trading for 50 years.

Some of the most insightful comments came very late into the presentation (the video is about 1hr 25min long):

(about 01:17:48 into the video)

Steidlmayer
Knowledge comes from losses, not gains.

(about 01:18:20 in)

Steidlmayer
Most of us make money because we survive how bad we are.

(about 01:18:25 in and continues on that thought until about 01:19:40)

Steidlmayer
If I did 10% right of all the things I knew, I could still make money ... I was trying to be as bad as I could be and make money. And try to get that lower ...

Good stuff and thanks again for sharing

Take care -

Omni

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  #17 (permalink)
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I apologize for the non-response. I don't visit often currently; I suppose that is likely apparent. In case it matters to you any longer, here is my answer:

VS is, as you say, 'volume at price' count at its core, but it adds a couple of ingredients to the mix. It normalizes the volume (the '99' program) to aid with perception, as well as allows users to zero-out volume counts at any time. It also allows one to trade directly from the strip.

While there is little question that value can be found within these ideas, they are hardly novel. As you astutely concluded, if anything, VS is only a variant of what has been available for some time. I had/have only academic interest in the concept and did not and do not trade it personally, although I do have the software.

Just being clear....


TheDude View Post
Thank you for the post.

Whats up with the green highlight price?

I may have misunderstood what the strip is showing, but it looks to me to be a simple volume at price count? If so, this information is already available on MD Trader, CTS, OEC and other DOM displays.

Am I missing something? I will review the notes I made of the CME vid.


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Lornz View Post
I just wanted to clarify that Volume Strips is very different to VP. In the presentation he clearly rejects the underlying principles of both MP and VP. His new approach is more related to emergence than the the old static approach.

Absolutely agree, and excellent point. Thanks for your comments Lornz.


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zer0 View Post
A screen of one mysterious Volume Strip.

As well, my thanks for your posts on volume strips. I was a late to the game and by the time I was in a position to license Steidlmayer's software (January of this year), it was no longer available. In the meantime, I have re-connected with an old biz partner of mine and we are in the process of building a software front end that attempts to implement the ideas discussed by Steidlmayer in his CME presentation of last year.

Did you see in the version of the Volume Strips software you have how Steidlmayer's idea of bracketing the high volume price was implemented, if at all? He also seems to talk about 'cutting the high volume number' as the trading session progresses; any indications in the software of this concept?

I am happy with the way we are generating 'high volume numbers' in our development to date.; but am struggling with the best approach to bracketing high volume numbers. Steidlmayer seems to point towards using a bracket that simply might represent the loss you might be willing to tolerate on nay one trade, but he's not clear on this point or really any of the finer points, but, that's the fun of it.

Any thoughts anyone might have about what else he might be attempting to do in his software or with his approach in general would be greatly appreciated?

I also would ask if anyone has heard whether or when a "new" version of volume strips (might be) available? (My last couple of emails to Steven Hawkins have gone unanswered.)

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tpbyyc View Post
I also would ask if anyone has heard whether or when a "new" version of volume strips (might be) available? (My last couple of emails to Steven Hawkins have gone unanswered.)

fwiw, I have experienced the same regarding communications with Steven. In mid-Feb he advised to check back at the end of the month. I did but received no reply.

Maybe I should have asked "The end of which month?"

Btw, kudos on the effort and progress on your own implementation. Interested to see how it progresses

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Hi,

I'm forced to admit that I haven't spent a whole lot of time with the software. The lack of documentation then, turned me off a bit. I wasn't looking for a way to trade, and thus wasn't willing to bleed the stone to get answers to my questions. Lornz and I discussed the topic quite a bit and filled in the blanks ourselves.

Bracketing, as it relates to VS - if memory serves me, is simply a user-determined +/- entry value above or below the price of immediate interest. Example: +/- 4 ticks in either direction to discern when the train is leaving the station; so to speak. Also, Pete doesn't subscribe to the idea of stop-loss, at least not price-based ones. He would tell you that you need a market-generated-information reason to enter or exit any particular trade. In the case of VS, price alone would never be a clear determinant of being 'right' or 'wrong', as it were. For him, it's now all about 'price discovery risk', which, of course, implies not using price as a foundation for making most high-gravity trade-related decisions.

Don't burst a lobe on this one. It's not as mystical as it might seem. The core idea, I believe, is all that's necessary to make use of the concept. The details are of clearly secondary importance. I would sum up the macro hypothesis as this: relatively high-volume, in the very recent past, is a magnet and/or repellent of price (barbell distributions). You want to trade near these island distributions as anywhere in between are potential pitfalls of price discovery risk. In this, he's stating that markets (now) have goldfish memory (I am aware that this goldfish myth has been debunked). Anyway, It is up to each trader to decide what volume levels are worth noting, however. Deductively-speaking, we know such values are necessarily dynamic. Unsurprisingly then, I've seen nothing from them of which suggests how to make such decisions, although I haven't checked-in in a bit.



tpbyyc View Post
As well, my thanks for your posts on volume strips. I was a late to the game and by the time I was in a position to license Steidlmayer's software (January of this year), it was no longer available. In the meantime, I have re-connected with an old biz partner of mine and we are in the process of building a software front end that attempts to implement the ideas discussed by Steidlmayer in his CME presentation of last year.

Did you see in the version of the Volume Strips software you have how Steidlmayer's idea of bracketing the high volume price was implemented, if at all? He also seems to talk about 'cutting the high volume number' as the trading session progresses; any indications in the software of this concept?

I am happy with the way we are generating 'high volume numbers' in our development to date.; but am struggling with the best approach to bracketing high volume numbers. Steidlmayer seems to point towards using a bracket that simply might represent the loss you might be willing to tolerate on nay one trade, but he's not clear on this point or really any of the finer points, but, that's the fun of it.

Any thoughts anyone might have about what else he might be attempting to do in his software or with his approach in general would be greatly appreciated?

I also would ask if anyone has heard whether or when a "new" version of volume strips (might be) available? (My last couple of emails to Steven Hawkins have gone unanswered.)


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The CME Group has a new webinar posted on its site with the latest from Peter Steidlmayer:

Volume: The Key to Understanding Today's Market

A few quick notes as I want to post more but later:
- it looks like the presentation was delivered on June 25, 2012 (from the opening slide of the accompanying PowerPoint presentation); the link from the index page shows the presentation as being posted June 28, however the date shown on the page linked above is March 27 ... is their anyone in Chicago who actually attended the presentation?
- it seems that "Volume Strips" are out and "Time Variable Profiles" are in; the software picture appears even muddier close to a year after he last made his presentation (either September or August, 2012)
- appears to me to be a much bigger focus on time (or lack thereof) than on volume and despite the title of this presentation
- interesting and a much easier presentation to follow than his last
- disappointing as well, particularly as it relates to the part of the presentation on the "software" which I found to be both confusing and at times misleading
- still worth the view (or in my case it will be a few views)
- in any case, version 0.2 of my own take on 'volume strips' is production ready and working in real time with the CTS T4 API ... if anyone, is interested I could post more on what I am doing on this front, but just to say in advance that I have no interest in licensing or selling my 'software' to anyone else; having been there and having got that 't-shirt'.
- I will also start a trading journal here on Big Mike's as I attempt to use my software: the "POP.calculator" to navigate the ups & downs of the E6.

Looking forward to hearing from others on their thoughts re Steidlmayer & Volume.

Cheers, Tim.

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  #23 (permalink)
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Tim - Yes, I'd be interested in your interpretation of volume strips. I couldnt make much out from the first Volume Strips video - it seemed to be just a volume count that many DOMs now have.

Thanks,

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Here's a link for a recent webinar from Pete Steidlmayer (presented by eSignal):

Analyzing the Trading Structure Needed for Success

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Thanks @omni72 for this link.

It’s fascinating to see how most of Peter Stedlmayer’s recent webinars (*) are of poor audio/visual quality. Perhaps GS is sabotaging them? It would be a hint that the content is valuable! (joking)

I am not sure to have understood everything. Let's be more honest: I am sure that I have not understood everything!

Some notes, which are clearly not summarizing the webinar...
More a retranscription of my understanding of the most "concrete" parts...
I would be glad to be corrected by other futures.io (formerly BMT) members.

Daily MP is not any more a objective foundation for trading.

Peter Steidlmayer uses "time-variable profiles". I understand that they are MP split at convenient times, when price leaves a balance to look for new value.

Trades could be placed when price is leaving a former balance (curve bell completed?) in order to look for this new value.
Only if supported by volume.
Trade is left open as long as price moves with "speed" in the right direction.
In my own words... try to capture a VPOC shift.

Once more, this is partial, personal and perhaps wrong.
Additional comments would be highly appreciated.

Nicolas

(*)
- Webinar “Volume: The Key to Understanding Today's Market” @ CME : Volume: The Key to Understanding Today's Market
- Webinar “Steidlmayer Volume Strips: J. Peter Steidlmayer“ @ CME : Steidlmayer Volume Strips: J. Peter Steidlmayer
- this one
- other?

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Nicolas11 View Post

Some notes, which are clearly not summarizing the webinar...

Excellent effort capturing some of the meat from the webinar, Nicoloas! And thank you for sharing them here.


Nicolas11 View Post
- other?

There is at least one more webinar but I don't have it. On June 20th, Pete gave a webinar that was presented by PFG. They are now part of eSignal, but that content is not available. For some reason, I thought I at least had the audio from it, but can't seem to locate it if I do have it.

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Excellent effort capturing some of the meat from the webinar, Nicoloas! And thank you for sharing them here.

Thanks for this positive comment. Some of the meat... but I am not sure at all to have captured the best one.

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Nicolas11 View Post
Daily MP is not any more a objective foundation for trading.

Peter Steidlmayer uses "time-variable profiles". I understand that they are MP split at convenient times, when price leaves a balance to look for new value.

Trades could be placed when price is leaving a former balance (curve bell completed?) in order to look for this new value.
Only if supported by volume.
Trade is left open as long as price moves with "speed" in the right direction.
In my own words... try to capture a VPOC shift.

Once more, this is partial, personal and perhaps wrong.
Additional comments would be highly appreciated.


This is how I saw his webinar:

Due to the rise of the quant, the market has become much more focused on the short-term. Movements away from "value" now have the potential to become a positive feedback loop, wherein movement begets more movement, and fading breakout moves can lead to disaster, as prices can simply keep going without laying down much volume (translation: if you trade size, you can't get out easily).

So, he has adapted in several ways by:

-Not holding losers or averaging in

-Not fading

-Going with initiating activity away from a high volume node. If he isn't stopped out, he holds the trade until a certain amount of volume at price is laid down to indicate traders have accepted a new level/opposing activity has stopped the breakout move/whateva.

-Not using time parameters to divide his profiles (one per day, etc), but separating the profile into distributions.

Also, this isn't the first time he's significantly reformed his methods. He originally created the market profile method back in the 60's or 70's, when the market was much more prone to ranging activity. So, he created a proxy for a volume-at-price distribution using TPOs, which he could update in real time, and would then play the edges - always a decent strategy in range bound markets.

He has spoken before about how large commodity funds trading trend-following strategies created more movements in the market and made it necessary for him to adapt. Now, he's had to adapt again because of the influx of yet another type of participant (quants) who trade big size.

Interestingly enough, if his premises in these webinars are correct, and the bell-curve shape is due to the influence of locals and other market makers, then it's pretty obvious that the quants aren't really adding liquidity if their influence has caused the opposite type of activity.

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  #29 (permalink)
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ValueFocused View Post
This is how I saw his webinar:

Thanks for your summary @ValueFocused - I have watch the last two webinars of Peter's on the time-variable profiles and I don't yet understand how his software decides to end one profile and start the next profile. I am guessing that each profile contains a constant volume and thus time (# of TPOs) and price range (height) are the variables? I'm wondering what your understanding is on this point.

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Surly View Post
Thanks for your summary @ValueFocused - I have watch the last two webinars of Peter's on the time-variable profiles and I don't yet understand how his software decides to end one profile and start the next profile. I am guessing that each profile contains a constant volume and thus time (# of TPOs) and price range (height) are the variables? I'm wondering what your understanding is on this point.

Thanks for good summary @ValueFocused.

@Surely, I watched one of his webinars a while back, my understanding of how profiles are split was the following.

"The system he describes in the video was simply to start a new profile when the price broke the range of the last 9 bars, of a profile which is at least 12 bars old (although these parameters are changeable of course).

It is very simple algorithm (much simpler than I was thinking of), but seems to work remarkably well."

I had a go at coding this up. Actually, it seems to give quite good results. See attached chart (which wasn't a cherry-picked example).

((link to picture removed since I didn't reach the required post count yet! lol))

It seems to split the action up reasonably well into p,b,D and B shaped profiles.

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  #31 (permalink)
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I saw every thing from Steidlmayer which is presented in this thread.

He seems to be amazingly confident about his ideas and approach and it actually inspires confidence.

I tried to contact him or Hawkins but i have not received any reply. I wanted to receive dossiers on his softwares, either Capital Flow, Volume Strips or Time-Variable Profiles which are all about exploiting some algorytm which he is quite busy designing. I suppose he simply wants to adapt to conditions of prevailing forces in the nowdays markets like quants work, HFT and so on. He shows how markets are more vertical and classic MP is outdated, because currently, the highest volume occurs at the top of the range and at the bottom of the range.

I dont know what to think about it honestly because i wanted dossiers and eventually purchase the things but there is so little info about it. He also did not provide any specifics about how actually execute the trades and i can hardly speculate about it if i have no additional info or hard product in my hands.

Have you some luck in contacting them or do you actually know how to exploit the features which Pete presented in his CME presentations and webinars ?

For me, it is still open wild card but at the same time i am in the midst of the storm and ucertainty.

Thanks for reply guys !

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I haven't watched it yet so I can't comment on, well, anything about it, but here is a link to JPS' recent webinar:

Today's Market Profile: Adapting to a Changing Market Environment

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  #33 (permalink)
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@omni72

Thanks for the link, i am currently watching that presentation.

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Does anyone have Peter's email address? If so please send me a PM.

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Big Mike View Post
Does anyone have Peter's email address? If so please send me a PM.

Dude, if you get him for a webinar I am so there.

Though I'll have to smoke something first, to be able to get in the frame of mind to listen to his esoteric (and brilliant) style.

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josh View Post
Dude, if you get him for a webinar I am so there.

Trying for our 4-year...

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josh View Post
Dude, if you get him for a webinar I am so there.

Though I'll have to smoke something first, to be able to get in the frame of mind to listen to his esoteric (and brilliant) style.

@josh

It could be worse, you would have both JPS and Al Brooks co-hosting a webinar. They you would have to smoke more than once

Both brilliant minds for sure

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Maybe if you get him for a webinar, you could make the webinar part short so there'd be lots of time for questions.

In fact, what I'd really like is not a webinar at all, but a 2 hour AMA session with him.

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futuretrader View Post
Maybe if you get him for a webinar, you could make the webinar part short so there'd be lots of time for questions.

In fact, what I'd really like is not a webinar at all, but a 2 hour AMA session with him.

Might be interesting, but to have one of the greatest and most innovative minds in the trading world in the last 50 years (he was on the floor in like 1960), and potentially have people asking questions like "What's a TPO?" would be just a travesty.


kulu View Post
It could be worse, you would have both JPS and Al Brooks co-hosting a webinar. They you would have to smoke more than once

Both brilliant minds for sure

Definitely, but Al's been around trading for a few years (I don't know how many, maybe 10, maybe 20, either way, more than me that's for sure), Pete for a few decades. Al discusses trading on a "break the bar high" level, on a "draw a trend line" level. While I have the utmost respect for both, they just aren't in the same league (though they are both out of my league!) Pete is a true innovator who understands things about how markets work because he's been trading and observing markets for 50 years, he created ideas, original ones, that no one else ever did. I hope I don't sound like I'm making him too god-like, but it's like he has such a deep understanding that he's forgotten how to make it relatable to the common guy, like he's searching for words to describe nuances of how markets work and he just can't seem to get the real nature of his understanding across. Still, he's a great communicator, but I can almost feel his struggle as he attempts to compound many decades of learning and creativity into an hour-long presentation.

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I asked him to talk about Volume Strips for our 4-year June anniversary and to set aside a few minutes for Q&A. We'll see if he agrees.

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josh View Post
Still, he's a great communicator, but I can almost feel his struggle as he attempts to compound many decades of learning and creativity into an hour-long presentation.

Totally agree. In a world full of "What setups do you use?"-thinking, JPS works on how to re-introduce time into global markets.

Freakin' awesome.

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Somewhat of a tangential follow-up ...

I finally got around to watching the entire Esignal hosted webinar from Sept 2012 (it's more about Time Variable Profiles than Volume Strips). Two things kept reverberating in my mind: 1) the comments/questions people were posting ... don't even get me started, and 2) every single time I hear Pete talk about the markets, I come away feeling excited and proud to be a trader.

Here's a link to the webinar (seems like I posted this somewhere before, but whatever; now I don't have to re-dig for it ):

Analyzing the Trading Structure for Success

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  #43 (permalink)
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2. A webinar by Peter Steidlmayer (creator of MP) showing newly designed Volume Iterator Market Profile (Split) - https://www.facebook.com/pages/Zaner-Group/273788876057871 see under Carley’s picture
this is since Volume Strips

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I have watched all of Steidlmayer's video's and have adjusted my Market Profile to the 12/9 settings he uses. His concepts are valid and I am gaining a better understanding how liquidity comes and goes in our modern marketplace without the Locals stepping in to provide the majority of the liquidity.

That being said, one thing that I'm still a bit puzzled on is how Steidlmayer uses his time variable profiles for his entries? Does he use buy/sell stop bracket orders or will he step in with a limit order when a new profile develops? Be great to get some chatter going with others using these modified profiles and talk setups.

The setup that I see may work best is when there is a "short and fat" equilibrium profile which shows that the market is spending a lot of time at short range of price. Then when there is a new profile created and it breaks out from the range of the last, one enters and places a stop below/ above the high/low of the previous profile. The caveat to this type of trade is that it may be more time in the market than just a day trade and the $ value risk of that size of stop may be quite large depending what instrument you use.

Big Mike, any updates on getting Peter Steidlmayer to do a futures.io (formerly BMT) Webinar?

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This 'new' volume iterator or split of 12-9 seems to be the same concept as the Steidlemayer Splits in TT's X-Study. Correct?

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Hi I would like to ask where you can get software or the volume indicator strips? I'm trying to get him somewhere and I can not find him anywhere

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Steidlmayer Software Inc (312) 360-9466

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Thanks for your response and have a nice day

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Hi,

The attached slides seem to be the ones P. Steidlmayer used during his June 2012 presentation.

Source : https://www.cmegroup.com/education/files/understanding-todays-market-steidlmayer-2012-6-26.pdf

Nicolas

Attached Thumbnails
Steidlmayer's Market Profile Evolves: Volume Strips-understanding-todays-market-steidlmayer-2012-6-26.pdf  
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Superdoug3 View Post
2. A webinar by Peter Steidlmayer (creator of MP) showing newly designed Volume Iterator Market Profile (Split) - https://www.facebook.com/pages/Zaner-Group/273788876057871 see under Carley’s picture
this is since Volume Strips

If I may, here is a more direct link (in case the Facebook message progressively moves to page 2, page 3, etc. of the Facebook page):

https://icewebinar.webex.com/ec0606l/eventcenter/recording/recordAction.do?theAction=poprecord&AT=pb&renewticket=0&isurlact=true&recordID=6342367&apiname=lsr.php&rKey=c626f5612ad5a248&format=short&needFilter=false&&SP=EC&rID=6342367&siteurl=icewebinar&actappname=ec0606l&actname=%2Feventcenter%2Fframe%2Fg.do&rnd=8293778497&entappname=url0108l&entactname=%2FnbrRecordingURL.do

Nicolas

PS - A snapshot:

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Steidlmayer's "Time Variable Profiles" seem to be implemented in Market Delta: Gold Splits: A New Approach to Today?s Vertical Markets | The MarketDelta Blog

Not yet in Sierra Chart: Time Variable TPO Profile - Sierra Chart

Nicolas

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For futures.io (formerly BMT) members who use Sierra Chart and would like to play around Peter J. Steidmayer's Time Variable Profiles, I have posted in Elite section a study which emulates them :


Important: I have not reverse-engineered anything proprietary. I have just built something which seems to correspond to the specifications given by Peter J. Steidmayer in his various seminars.

Simply, a new profile begins if the current profile contains at least 12 30-min bars and if the price breaks out of the range of the 9 last bars.

The profile letters are displayed in red if the volume of the corresponding 30-min bar belongs to the 20 highest volume of the 300 previous bars.





Nicolas

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  #53 (permalink)
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Pete Steidlmayer recently did a webinar on traderkingdom:


"Masters of Change": Evolution of Market Profile to Match Today?s Markets - Trader Kingdom

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Im new to sierra charts and Im trying to add this custom study you made. Im having trouble with it. Can you walk me through how to implement t to my charts/platform? Thanks!

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Hi @rmiller863 ,

In case that the question is targeted to me, could you kindly ask it in the thread dedicated to the study ( ), while explaining what you have done so far?

By doing so, this thread could remain focused on the methodology itself.

Nicolas

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  #56 (permalink)
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These Time Variable Profiles.... Is it just me, or is this a similar concept to Point & Figure charts - the way you get rotations and trends?

The 12/9 parameters seem a bit mechanical as well - although I guess they are configurable. Basically, to my thinking, he's looking for a breakout from the last 4.5 hours of trading highs/lows, when the market has been moving in a bracket for 6 hours or more?....

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Hi Guys,

I think this a very interesting topic. Did someone more research or trades with this metholodgy?
Are Volume Strips still only aviable on T4?

Would love to start a nice discussion or learn together.

Regards

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  #58 (permalink)
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the idea from what i understand is to trade closer to the volume. not the way most of us have been trained ...trading from the edge. most of us are having problems so i would say he is spot own. if you trade from the edge you are taking the risk of price discovery. there is no volume at the edge. so who know where that level will hold. if you trade from a fat point of control on the other hand... price should hold for a little while any way. it gives you time to bail out of your trade with a much smaller loss if things do not go your way... if things do go your way other traders are not going to jump in and take the other side of a strong move out of a fat mode or p.o.c....so your trade should run much faster and longer. cut your losses short and let your winners run... you have heard of this...

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the idea from what i understand is to trade closer to the volume. not the way most of us have been trained ...trading from the edge. most of us are having problems so i would say he is spot own. if you trade from the edge you are taking the risk of price discovery. there is no volume at the edge. so who know where that level will hold. if you trade from a fat point of control on the other hand... price should hold for a little while any way. it gives you time to bail out of your trade with a much smaller loss if things do not go your way... if things do go your way other traders are not going to jump in and take the other side of a strong move out of a fat mode or p.o.c....so your trade should run much faster and longer. cut your losses short and let your winners run... you have heard of this...

Sorry for the over one year reply. I think there is still a point missing on the idea apart from what you have said. Trading new orders as put by Peter would mean trading not necessarily in the fat high volume node on the chart but on where the DOM indicates there was a supply of orders waiting bigger than the middle.

The entire thread looks very clarifying though. I'm not sure if there is a continuation of this discussion anywhere else.

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Fletcher NC
 
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dalmeida View Post
Sorry for the over one year reply. I think there is still a point missing on the idea apart from what you have said. Trading new orders as put by Peter would mean trading not necessarily in the fat high volume node on the chart but on where the DOM indicates there was a supply of orders waiting bigger than the middle.

The entire thread looks very clarifying though. I'm not sure if there is a continuation of this discussion anywhere else.

most of the stuff i reviewed was dated. i have emailed them multi-times. no answer i do not for sure what the hell is going on. i have not read or see any thing recorded that says he uses the limit order book for any thing. that does not mean ....he does not . i just have not seen it. were it.... you will not find any thing any where i looked.

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forgiven View Post
most of the stuff i reviewed was dated. i have emailed them multi-times. no answer i do not for sure what the hell is going on. i have not read or see any thing recorded that says he uses the limit order book for any thing. that does not mean ....he does not . i just have not seen it. were it.... you will not find any thing any where i looked.

Any idea why a man who was born in the late 1930s might have other issues than dabbling limit order books today?

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Fletcher NC
 
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choke35 View Post
Any idea why a man who was born in the late 1930s might have other issues than dabbling limit order books today?

sure he is not a day trader for one, they did not even have domes up until 20 years ago. he does not use them as far as i know

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Hi, can anyone tell me where I can find the video that was posted on volume strips? Seems to be deleted from the net. Thanks.

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CFuture View Post

I am very late to ask this but does anyone have this Trader Kingdom video by Mr. Steidlmayer?

Thanks

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