Steidlmayer Market Profile then who created Volume Profile? - Traders Hideout | futures io social day trading
futures io futures trading


Steidlmayer Market Profile then who created Volume Profile?
Updated: Views / Replies:5,867 / 14
Created: by TradeAction Attachments:1

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 1  
 
Thread Tools Search this Thread
 

Steidlmayer Market Profile then who created Volume Profile?

  #11 (permalink)
Chicago
 
Trading Experience: Intermediate
Platform: NInja
Favorite Futures: ES
 
Posts: 143 since Jan 2015
Thanks: 2 given, 61 received


TradeAction View Post
If Steidlmayer co created Market Profile then who created Volume Profile? I know to some this is a insignificant question but I like to do a bit of history on the tools that I use to better understand their origins and improvements over time.

Understanding who what and why helps me out. Knowing a bit of the inner mechanisms of a tool gives me a better grasp on what it is and how its to be used.

Thanks!

If you want to go deeper, read/listen to the information from the people mentioned in my latest threads.
There is value in trying to predict the day type (which I have not learned) but if you just want to see nitty gritty uses for the information, see my charts.
https://futures.io/beginners-introductions/43687-beginners-what-really-matters-volume-profile.html

Reply With Quote
 
  #12 (permalink)
Legendary Market Chamois
Chicago, IL
 
Trading Experience: None
Platform: NT8,NT7,TWS,FOREX.COM app
Broker/Data: InteractiveBrokers, NinjaTrader Brokerage FOREX.COM, IQFeed
Favorite Futures: The one I'm creating in the present....ES, ZF, ZN, ZB, FX pairs
 
Blash's Avatar
 
Posts: 1,924 since Nov 2011
Thanks: 5,946 given, 3,415 received


Waiter View Post
BUT, what is volume profile



Just like we have volume plotted on the x-axis, (volume per bar/candle) Volume Profile is simply volume plotted on the y-axis usually called volume at price or vap for short.

This is a the basic requirement. From this we can see which prices are attracting and have attracted more or less volume. There are a good number of ways to then trade this information in combination with other information for example order flow or the breakdown of this volume information into either buys or sells etc.

Ron
Edit: a picture is worth a thousand words....

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



Sent from my iPhone using futures.io

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)

Last edited by Blash; December 30th, 2017 at 12:05 PM.
Reply With Quote
The following 2 users say Thank You to Blash for this post:
 
  #13 (permalink)
Legendary Market Chamois
Chicago, IL
 
Trading Experience: None
Platform: NT8,NT7,TWS,FOREX.COM app
Broker/Data: InteractiveBrokers, NinjaTrader Brokerage FOREX.COM, IQFeed
Favorite Futures: The one I'm creating in the present....ES, ZF, ZN, ZB, FX pairs
 
Blash's Avatar
 
Posts: 1,924 since Nov 2011
Thanks: 5,946 given, 3,415 received

Steidlmayer Market Profile then who created Volume Profile?



Waiter View Post
ohhh man, that chart really looks like $100 bill, tell me honestly is it makes you better trader?
or its more like show off
its sad that you can use market replay on that platform, it chokes not the comp but the powergrid from all that calculating whatever tick dat they copile



I like to think all my tools make me a better trader. I use Rancho Dinero tools and some simple stuff I wrote. But in the end it’s the decisions, and the tool for that is the brain. And keeping this tool working great is an investment (of many kinds) a life style as far as I’m concerned.

Haven’t used market replay so I can’t comment.

I left my charts for other longer term charts without my Volume Profile..... into more spot FOREX and I had a hard time felt lost but couldn’t put my finger on it. It’s actually reflected in my decline in posting here at FIO. Went back to the chart you now see here and I will never again leave them. These tool really help my intuition.

Currently reading.... Embracing Uncertainty: Breakthrough Methods for Achieving Peace of Mind When Facing the Unknown by Susan Jeffers PhD and in that book she mentioned this book: Awakening Intuition: Using Your Mind-Body Network for Insight and Healing by Mona Lisa Schulz MD PhD so I put Embracing Uncertainty on hold to read Awakening Intuition. Both great books. They are pushing me which is the reason I’m reading them.

Ron

Edit: grammar
Sent from my iPhone using futures.io

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)

Last edited by Blash; December 31st, 2017 at 10:49 PM.
Reply With Quote
The following 6 users say Thank You to Blash for this post:
 
  #14 (permalink)
New York + US
 
Trading Experience: Intermediate
Platform: MultiCharts
Favorite Futures: Indian Stocks
 
Posts: 27 since Aug 2015
Thanks: 9 given, 1 received

Charles Cochran of CNFT is the main originator of VP. He just passed away on April last

Reply With Quote
 
  #15 (permalink)
Chicago
 
Trading Experience: Beginner
Favorite Futures: MES, MNQ
 
snax's Avatar
 
Posts: 383 since Feb 2019
Thanks: 921 given, 729 received


bobwest View Post
These replies are both very good. The original Market Profile showed the areas of price that were visited within 30 minute segments (because there was no real volume information, and 30 minutes was a pretty small period of time when they didn't have tick-by-tick computer feeds. -- Also, pit traders had to turn in their trade cards every 30 minutes, so that was when the data was available.) These gave "TPO's" (Time Price Opportunities) that built up a profile of trading at different price levels that is very similar to the Volume Profile.

When we had reliable trade-by-trade volume data, the same basic idea could be refined using the volume transacted at each price level. Many people will still use both the price-only Market Profile alongside Volume Profile, extracting similar information from each.

(The original question was about who created Volume Profile as opposed to the original Market Profile -- I confess that I am not sure, and do not have time right now to do a good search on it. Perhaps Jim Dalton, author of "Markets in Profile" and "Mind Over Markets" comes to mind. I know he has used both in his webinars. I am not sure who was the first one to do it.)

Once we had good volume information, plotting the volume transacted at each price was a natural application of the basic profile idea, so it was an evolution more than a revolution.

Bob.


bobwest View Post
Volume profile existed long before ThinkOrSwim, which is only a few years old, and it is different, although they will render fairly similar profiles of trader activity at different price levels. Market Profile is based on whether a given price level was visited, even once, during the trading day. Volume Profile shows the actual volume transacted at each price level.

It is true that the CME has the rights to the price-based Market Profile, and it does even today extract a fee from platforms that use it (which they generally pass on to their users.) Volume profile, which many find more useful, does not have any such issues.

TOS has a "TPO" profile indicator, which is the same as Market Profile but is not limited to 30-minute bars, and a "Monkey Bars" bar type, which is standard time-based Market Profile. I don't know how they deal with intellectual property issues, other than the fact that they are not fixed on 30-minute time spans. TOS also has a Volume Profile, which gets around the CME property rights simply by being based on different statistics, as are all Volume Profiles.

Bob.

I had to resurrect this old thread, I hope the admins don't mind. I wanted to thank @bobwest for this valuable explanation.

I have started reading "Mind over Markets" and I am really enjoying learning about the market structure and why they did these things the way they did. I was wondering how volume profile fit into this picture too. These posts are worth more than 100 google-searches. I'm finding this to be a general pattern, futures.io > googling.

Thanks for posting!

snax

Reply With Quote
The following 3 users say Thank You to snax for this post:

Reply



futures io > > > Steidlmayer Market Profile then who created Volume Profile?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

futures io is celebrating 10-years w/ over $18,000 in prizes!

Right now
 

Thanks for everything -- $250 in Amazon Gift Cards ready to give away

Right now
 

Journal in July -- over $2,500 in prizes w/NinjaTrader

July
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
TOS Monkey Bars (Mkt Profile) & Volume Profile TonyB ThinkOrSwim 43 May 27th, 2019 01:00 AM
Volume Profile/Market Profile Snapshot Indicator djkiwi The Elite Circle 64 September 18th, 2018 02:41 PM
Steidlmayer's Market Profile Evolves: Volume Strips tigertrader Traders Hideout 62 November 17th, 2017 06:48 AM
Monthly profile chart still showing last months volume profile Big Mike Sierra Chart 11 October 10th, 2014 01:17 PM
Do you use Market Profile or Volume Profile? Big Mike Traders Hideout 25 December 8th, 2012 01:05 AM


Tags
30 minute, bid/ask, cme, cnft, dalton, data, dow, es, est, forex, futures, how to, imbalance, indicator, indicators, information, intraday, lvn, market profile, market replay, market_replay, monkey bars, order flow, paper, patterns, people, platform, poc, rancho, rancho dinero, replay, search, short, spot forex, statistics, steidlmayer, tapatalk, think or swim, thinkorswim, tick, tos, tpo, traded, trading, type, value area, volume, volume profile, vp, webinars

All times are GMT -4. The time now is 06:39 AM. (this page content is cached, log in for real-time version)

Copyright © 2019 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432 WhatsApp Business, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2019-06-27 in 0.21 seconds with 25 queries on phoenix