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Starting with Market Profile and New here
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Starting with Market Profile and New here

  #11 (permalink)
chennai/india
 
 
Posts: 155 since Sep 2015
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Undestanding of Market Profile Trade Setup

I 'm also new to Market Profile and Reading the above listed books with parallel live Market Match by using fin-alg.com TPO Profile Chart. But its take lot of screen time to understand the concepts and Trade Set up. Any Active TPO Profile Traders using this tool, Pls share your views how to handle this Practically ob Current Electronic Market Scenario.?

yawaniga

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  #12 (permalink)
Market Wizard
Tampa FL
 
Trading Experience: Advanced
Platform: Sierra Charts/TOS
Broker/Data: Future Path/TDA/S5
Favorite Futures: Futures/Cryptos
 
CenFlo's Avatar
 
Posts: 625 since Apr 2016
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I went through the Dalton legacy course earlier this year and it has helped me tremendously in my trading, it's a shame that it was his legacy course and Mr. Dalton has retired.

It really gives you a feel for what's happening underneath the markets and why they tend to move and/or reverse at certain points. It does take a while to learn to understand and read it, but once you have the basics of it down it's relatively easy to understand.

I initially subscribed to the Windotrader software while taking the Dalton course, but moved on to Sierra Charts as it has all of the Market Profile functions (and much, much more) and costs much less per month than Windotrader.

Here's a screen shot of my MP screen on Sierra Charts:

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Another great resource on a daily basis is Peter's premarket daily Market Profile post and commentary:

Peter's Premarket Perspective | Shadow Traders

Futurestrader71 also does a morning run down at 9 AM, EST and I watch it daily as well. He uses Mp and VP in his analysis.

https://stage5trading.com/traderbite/

You miss 100% of the shots you don't take. - Wayne Gretsky
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  #13 (permalink)
chennai/india
 
 
Posts: 155 since Sep 2015
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Dear CenFlo,

Thanks a lot for ur great stuffed resource, need some more time to understanding this concept.

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  #14 (permalink)
Omaha, NE/USA
 
Trading Experience: Beginner
Platform: S5 Trader; Jigsaw; TOS
Broker/Data: Stage 5
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Which one should one study first - Volume Profile or Market Profile? I am new at this and am reading an Intro to Volume Price Analysis and studying price action. Also, reading Van Tharp - it just depends where I am physically at and what I am doing that allows be to study one of the three. I plan to move to order flow eventually. Then learning the two profile methods.

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  #15 (permalink)
chennai/india
 
 
Posts: 155 since Sep 2015
Thanks: 111 given, 147 received


johny1971 View Post
Which one should one study first - Volume Profile or Market Profile? I am new at this and am reading an Intro to Volume Price Analysis and studying price action. Also, reading Van Tharp - it just depends where I am physically at and what I am doing that allows be to study one of the three. I plan to move to order flow eventually. Then learning the two profile methods.

I 've no idea about the difference between Volume Profile and Market Profile? But Orderflow 'll give the right edge along with Market Profile or Volume Profile. BTW I got these unique combo Trail from this vendor, search gomicators

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  #16 (permalink)
Chicago, IL
 
Trading Experience: Intermediate
Platform: NinjaTrader
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Dalton is coming out of "retirement" and doing a webinar on Monday, Nov. 21st, at 6:00PM CST for Shadowtrader. Got to ShadowTrader Webinar Series 2016 - Shadow Trader to register.

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  #17 (permalink)
West Branch, Mi, USA
 
Trading Experience: Intermediate
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Favorite Futures: NQ, CL
 
Posts: 59 since Nov 2012
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CenFlo View Post
I went through the Dalton legacy course earlier this year and it has helped me tremendously in my trading, it's a shame that it was his legacy course and Mr. Dalton has retired.

It really gives you a feel for what's happening underneath the markets and why they tend to move and/or reverse at certain points. It does take a while to learn to understand and read it, but once you have the basics of it down it's relatively easy to understand.

I initially subscribed to the Windotrader software while taking the Dalton course, but moved on to Sierra Charts as it has all of the Market Profile functions (and much, much more) and costs much less per month than Windotrader.

Here's a screen shot of my MP screen on Sierra Charts:

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


Another great resource on a daily basis is Peter's premarket daily Market Profile post and commentary:

Peter's Premarket Perspective | Shadow Traders

Futurestrader71 also does a morning run down at 9 AM, EST and I watch it daily as well. He uses Mp and VP in his analysis.

https://stage5trading.com/traderbite/

Hi CenFlo,

I've been trading for awhile but I'm new with Market Profile and Volume Profile. I'm not sure what would be better, MP or VP. I also use Sierra Chart. Can you give me your opinion about the two?

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  #18 (permalink)
West Branch, Mi, USA
 
Trading Experience: Intermediate
Platform: Sierra Chart
Broker/Data: TradePro/TransAct
Favorite Futures: NQ, CL
 
Posts: 59 since Nov 2012
Thanks: 10 given, 10 received

@CenFlo When you say you've taken Dalton's Legacy course, are you referring to his "Trading Like You've Never Heard Before"?

Also, I wanted to ask you, are you using the default settings with Sierra Chart's Market Profile? If not, can I ask what customizing you've done?

Thanks,
Rockford

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  #19 (permalink)
Market Wizard
Tampa FL
 
Trading Experience: Advanced
Platform: Sierra Charts/TOS
Broker/Data: Future Path/TDA/S5
Favorite Futures: Futures/Cryptos
 
CenFlo's Avatar
 
Posts: 625 since Apr 2016
Thanks: 789 given, 909 received


Rockford View Post
Hi CenFlo,

I've been trading for awhile but I'm new with Market Profile and Volume Profile. I'm not sure what would be better, MP or VP. I also use Sierra Chart. Can you give me your opinion about the two?

Since I trained on MP, I use it much more, but both MP and VP have their places in the toolbox.

Keep in mind here, both are visual tools with the point being that they format the daily auction data in to an easily readable and understandable form.

You miss 100% of the shots you don't take. - Wayne Gretsky
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  #20 (permalink)
Market Wizard
Tampa FL
 
Trading Experience: Advanced
Platform: Sierra Charts/TOS
Broker/Data: Future Path/TDA/S5
Favorite Futures: Futures/Cryptos
 
CenFlo's Avatar
 
Posts: 625 since Apr 2016
Thanks: 789 given, 909 received



Rockford View Post
@CenFlo When you say you've taken Dalton's Legacy course, are you referring to his "Trading Like You've Never Heard Before"?

Also, I wanted to ask you, are you using the default settings with Sierra Chart's Market Profile? If not, can I ask what customizing you've done?

Thanks,
Rockford

I took the last live "Legacy" course that he offered earlier this year and I'm glad I took it. I came away with much more knowledge and having Jim basically call the market live (and his evening / morning reports) were a great training tool.

I took a MP chartbook that I was given and modified it to be as close to Windotrader that I could. It's not exact, but it's close enough and give me all of the info I need.

I've since updated it to show the contract volume within the histograms that are to the right of the TPO counts:

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Note that the /ES contract shown above is /ESH16 and NOT the current /ESH17 contract that's trading currently.

You miss 100% of the shots you don't take. - Wayne Gretsky

Last edited by CenFlo; December 12th, 2016 at 07:24 PM.
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