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Anyone find success using mp/vp for currencies other than the Euro?
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Anyone find success using mp/vp for currencies other than the Euro?

  #11 (permalink)
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I wonder if it's worth looking into value area confluence zones for different currencies overlaid ontop of one another. It's a vague thought that I'm wrestling with that hasn't come into focus yet. I don't think it's possible to have two different instrument's mp charts on one window though at least with sierra anyways. Since there are many currency pairs with the same base currencies at least we have the ability to pick the best patterns but then there is more fundamentals to keep track of.


Last edited by Itchymoku; November 29th, 2013 at 09:30 PM.
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  #12 (permalink)
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Itchymoku View Post
Anyone wanna make a stab at the question? I know @xelaar partly answered with commentary on fdax vp for the afternoon volume (https://futures.io/elite-circle/29629-avoid-loss-best-entry-points.html#post370438). Anyone else have experience with it? @GaryD I know you've been trading forex recently, do you use mp or vp with them? @GFIs1?



When trading forex, I do not use volume at all.

When trading CL I use MP, VP and VSA. But I think I do that because that is what I am familiar with.

I have not even tried to integrate volume in any manner in forex trades, my focus has been on structure. Trading without volume has put more emphasis on chart patterns. I have seen where I can get too focused on volume sometimes and miss the bigger picture.

I trade forex with session times, which gives the extremes of MP, but base trades there off pure price action, not knowing if it was 10 or 100 or 1000 orders that causes the move, and I do not feel I am missing anything...

Yet, I have not been able to trade CL the same way, psychologically. Maybe when the scaling become the same I will. In futures, I have to be very precise. In forex, I get a wider area due to scaling, so the exact volume at that moment is not that important.

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Itchymoku View Post
I was curious if anyone who trades currencies uses market profile with any success on spot currencies other than the EUR/USD? (what currencies or session times do they use) I was also wondering if it is worth using volume profile for other currency futures than the Euro given their daily volume?


VP works perfectly fine with Forex futures (majors, dollar pairs), but not with spot. Spot forex does not give correct volume since it is broker related (and a tick aggregate) and no one has access to the deeper interbank volume. So for spot, you can only use MP, not VP.
The great thing about the futures is that you get very reliable volume data since as whole it is larger than any single spot broker.
My recommendation is to stick with the majors with VP.

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looks like the initial eur/usd trade is doing exactly what I wanted it to do.
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I just let these trades run as far as they can go and trail my stop/limit at different levels. 1.3555 is where my stop is for now and I guess the VPOC at 1.3515 is my next target. The runners work for themselves. I'm not an expert and I'm still not entirely sure mp/vp work for currencies but so far it's going alright. With all things regarding trading it's going to take a large sample size to get the figures - no one perfect trade is going to change my mind but it helps.


Last edited by Itchymoku; December 2nd, 2013 at 03:46 PM.
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