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Do you use Market Profile or Volume Profile?
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Do you use Market Profile or Volume Profile?

  #1 (permalink)
Site Administrator
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Do you use Market Profile or Volume Profile?

This is the new site-wide poll on the forum homepage.

Please cast your vote on the homepage, and then use this thread to discuss the poll itself.

Mike

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  #2 (permalink)
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  #3 (permalink)
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LOL, no discussion it seems.

Here are the poll results:

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Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #4 (permalink)
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Private Banker's Avatar
 
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I never even noticed this thread. Here's my thoughts on Market Profile and Volume Profile. The two are very similar in use with typically slightly different price levels of importance but both equally as useful. Although many use profiling as a methodology or primary base for one, I think they're both very valuable tools to use in addition to your normal trading criteria. A TPO profile can offer different ideas vs. a volume profile and vice versa. Both however should be used to help formulate an overall market context to aid in your trading decisions.

There seems to be a big buzz right now with MP/VP. This is great to see however, make sure you actually know how to use these tools correctly. Read up on MP theory and use some of the concepts to help you in your own trade set ups. Don't just throw a volume profile on your chart thinking this will be you next helpful indicator to success. Learn how to use them correctly just like any other tool. This isn't a holy grail, but it can help you big time if you learn all the concepts.

Cheers,
PB

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  #5 (permalink)
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Private Banker View Post
I never even noticed this thread.

Future reference, there is a link below each poll on the home page that says "Discuss poll", and it goes to the appropriate thread.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following user says Thank You to Big Mike for this post:
 
  #6 (permalink)
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Massive l's Avatar
 
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It's all I use. Daily, weekly, and monthly volume profile levels on the 2hr chart.
For the daily chart, I use just the weekly and monthly profiles.
Simple trading focused on risk/trade management and price.

Psychology > Strategy ≥ Money
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  #7 (permalink)
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siam, west coast andaman sea
 
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nakachalet's Avatar
 
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possible to give us a five min dissertation on the how pls?


Massive l View Post
It's all I use. Daily, weekly, and monthly volume profile levels on the 2hr chart.
For the daily chart, I use just the weekly and monthly profiles.
Simple trading focused on risk/trade management and price.

hi @massive I:

alright, since you've been using them both profitably in your own trading, the m and the v profiles;

would you kindly spell them out succinctly for many of us, in terms of:

1--how are they used in general? and;

2--how do you personally apply them in your own trading; without having to reveal or show your trading secret, pls?

much obliged masssive I and much thx


Last edited by nakachalet; March 31st, 2012 at 04:18 AM.
 
  #8 (permalink)
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Private Banker View Post
I never even noticed this thread. Here's my thoughts on Market Profile and Volume Profile. The two are very similar in use with typically slightly different price levels of importance but both equally as useful. Although many use profiling as a methodology or primary base for one, I think they're both very valuable tools to use in addition to your normal trading criteria. A TPO profile can offer different ideas vs. a volume profile and vice versa. Both however should be used to help formulate an overall market context to aid in your trading decisions.

There seems to be a big buzz right now with MP/VP. This is great to see however, make sure you actually know how to use these tools correctly. Read up on MP theory and use some of the concepts to help you in your own trade set ups. Don't just throw a volume profile on your chart thinking this will be you next helpful indicator to success. Learn how to use them correctly just like any other tool. This isn't a holy grail, but it can help you big time if you learn all the concepts.

Cheers,
PB

Yes, I'm kind of surprised by that too. MP is older than I am, but in the last couple of years the interest has exploded. I think it's because vendors have found it difficult to push "magical" indicators, and AMT appears more sound on the surface.

6-7 years ago, hardly anyone discussed price, it was all about indicators. I remember reading discussions where most of the participants couldn't believe it was possible to trade without indicators, but now the majority trade, or at least attempt to trade, price action.

Judging by the level of activity, and quality of the posts, on various fora, it's becoming very apparent that daytrading is nearly dead now. I've often wondered if there is a secret forum somewhere -- in which all of the profitable traders post --- but I think most have either retired, established private connections or found solace in seclusion.

I expect more and more of old profitable methods to be be put up for sale as they are rendered useless by the ever-increasing efficiency of the markets over the next few years.

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  #9 (permalink)
Membership Temporarily Revoked
siam, west coast andaman sea
 
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....that daytrading is nearly dead now....


Lornz View Post
Yes, I'm kind of surprised by that too. MP is older than I am, but in the last couple of years the interest has exploded. I think it's because vendors have found it difficult to push "magical" indicators, and AMT appears more sound on the surface.

6-7 years ago, hardly anyone discussed price, it was all about indicators. I remember reading discussions where most of the participants couldn't believe it was possible to trade without indicators, but now the majority trade, or at least attempt to trade, price action.

Judging by the level of activity, and quality of the posts, on various fora, it's becoming very apparent that daytrading is nearly dead now. I've often wondered if there is a secret forum somewhere -- in which all of the profitable traders post --- but I think most have either retired, established private connections or found solace in seclusion.

I expect more and more of old profitable methods to be be put up for sale as they are rendered useless by the ever-increasing efficiency of the markets over the next few years.

-----------------------------

....it's becoming very apparent that daytrading is nearly dead now....

-----------------------------


....if there is a secret forum somewhere -- in which all of the profitable traders post....
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------------------

....
but I think most have either retired, established private connections or found solace in seclusion....

----------------------------






Last edited by nakachalet; March 31st, 2012 at 09:42 AM.
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  #10 (permalink)
Trading for Fun
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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


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