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Do you use Market Profile or Volume Profile?


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Do you use Market Profile or Volume Profile?

  #21 (permalink)
 
Big Mike's Avatar
 Big Mike 
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Massive l View Post
Well, I tried

cliffs: volume profile/market profile is a joke. Avoid.

LOL, ok now maybe I will read it.

Can you tell me what chapter of this book contains his summary conclusion, if such a thing exists?

Mike

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  #22 (permalink)
 
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 Big Mike 
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OK, his summary:


Quoting 
In summary, the Market Profile is one way, and one of the best ways in my opinion, to listen to and interpret the market’s intention. Many traders may prefer to view the market with traditional bar charts, or to simply read the tape, or trade from the action in the pits. In fact, many of the most successful traders of all time did not have the advantage of the computer and the market profile graphic. However, the concepts and thought process that the Market Profile represents were still in use by many of these traders. The concepts that Market Profile illustrates so well is the important consideration, even if one prefers a different method to display market activity. Market Profile often does not give specific entry and exit points. That is probably why the vast majority of traders rely on indicators. It is difficult to backtest objectively the Market Profile concepts. Indicators can easily be put into a formula and numbers can be crunched on past data in seconds. But remember that the vast majority of traders lose money. The greatest traders have a market understanding that goes beyond the obvious. Again, there is no edge in what everyone knows. For those who rely on indicators, chat room gurus, and non-market generated information, I wish you good luck in your trading. You WILL need it. For those willing to pursue the difficult path of market understanding, you have a much better chance of creating your own luck, with a much better chance of success.

Mike

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  #23 (permalink)
 
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 nakachalet 
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Big Mike View Post
OK, his summary:



Mike

agree whole heartedly.

a trader needs first to understand the market conditions and different ways it reacts to exterior stimulus.

without this understanding, a trader would only be relying on the secondary info which includes all indic and such.

to survive and do reasonably well consistently, a trader truly needs to grasp the dynamics of the market and the products which one wishes to conquor and to come up on top.

good quote and summary.

much thx and appreciation.

  #24 (permalink)
 
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 nakachalet 
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Massive l View Post
Apr 21st, 2009 by Doug Tucker
Link w/ pics
Tucker Report Market Profile – A Primer Print

EDIT - no reason to post the article (it was long) without the pics...just click the link.

thx for the ref

it would be my first exposure. thx much.

  #25 (permalink)
 Fourwedge 
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Amnesia View Post
I'm still trying to figure out how to use Market Profile and volume profile with X_Trader, so far all i was able to find was the price distribution thing which is great in itself but i would much prefer to have an overlay of the data with candlebars for it to actually be of relevance to me.

I have seen a couple of webinars here where it is done but i have yet to find an explanation of how it is done with X_Study

I have the same issues. Can't figure out how anyone uses it and I've read a lot about it. Ugh!

  #26 (permalink)
 
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 Big Mike 
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Main thread:


Also many webinars on nexusfi.com (formerly BMT) that cover the basics.

Recent poll included in that thread, you can see a lot of people use it.

Mike

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