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Starting with Market Profile and New here

  #21 (permalink)
 Rockford 
West Branch, Mi, USA
 
Experience: Intermediate
Platform: Sierra Chart
Broker: TradePro/TransAct
Trading: NQ, CL
Posts: 59 since Nov 2012
Thanks Given: 10
Thanks Received: 11


CenFlo View Post
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 TOP counts:



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

@CenFlo
Thanks for getting back with me, I really appreciate it. As I said, I'm new with MP and I primarily trade NQ. I'd like to ask you a couple of questions, if it's ok...

1) Do you use start time at 00:00 EST on your MP & VP charts?

2) I have read a few places, that some traders only focus on yesterdays profiles. Do you put emphasis on yesterday or the current day?

3) Is there any way that you could share your chartbook with me? Also, what does TR: 1s mean on your charts?

Thanks,
Rockford

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  #22 (permalink)
 
CenFlo's Avatar
 CenFlo 
Tampa FL
 
Experience: None
Platform: TOS/TradingView
Broker: TDA
Trading: Equities/Cryptos
Posts: 642 since Apr 2016
Thanks Given: 830
Thanks Received: 960


Rockford View Post
@CenFlo
Thanks for getting back with me, I really appreciate it. As I said, I'm new with MP and I primarily trade NQ. I'd like to ask you a couple of questions, if it's ok...

1) Do you use start time at 00:00 EST on your MP & VP charts?

2) I have read a few places, that some traders only focus on yesterdays profiles. Do you put emphasis on yesterday or the current day?

3) Is there any way that you could share your chartbook with me? Also, what does TR: 1s mean on your charts?

Thanks,
Rockford

1. Start times for RTH are just that, 0930 - 1615 (EST) and 1630 - 092959 (EST) for ETH on the /ES contract, same would be with your /NQ as I'm sure you know.

2. The past days are helpful to carry forward information from past days, but I always keep an eye on the developing MP during the RTH. ETH profile isn't quite as important, but it will let you know if the ETH is net short / net long / in balance and may give clues to the opening RTH movement.

3. TR = Time remaining for the current TPO as in each TPO session being 30 minutes.

MP chart book file attached.

You miss 100% of the shots you don't take. - Wayne Gretsky
Attached Files
Elite Membership required to download: MP_RTH_ETH.cht
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  #23 (permalink)
 Rockford 
West Branch, Mi, USA
 
Experience: Intermediate
Platform: Sierra Chart
Broker: TradePro/TransAct
Trading: NQ, CL
Posts: 59 since Nov 2012
Thanks Given: 10
Thanks Received: 11



CenFlo View Post
1. Start times for RTH are just that, 0930 - 1615 (EST) and 1630 - 092959 (EST) for ETH on the /ES contract, same would be with your /NQ as I'm sure you know.

2. The past days are helpful to carry forward information from past days, but I always keep an eye on the developing MP during the RTH. ETH profile isn't quite as important, but it will let you know if the ETH is net short / net long / in balance and may give clues to the opening RTH movement.

3. TR = Time remaining for the current TPO as in each TPO session being 30 minutes.

MP chart book file attached.

@CenFlo Thank you very much for sharing this info and your chartbook. If it's ok, I'll let you know how thing go as I learn MP?

Thanks again,
Rockford

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  #24 (permalink)
 
CenFlo's Avatar
 CenFlo 
Tampa FL
 
Experience: None
Platform: TOS/TradingView
Broker: TDA
Trading: Equities/Cryptos
Posts: 642 since Apr 2016
Thanks Given: 830
Thanks Received: 960


Rockford View Post
@CenFlo Thank you very much for sharing this info and your chartbook. If it's ok, I'll let you know how thing go as I learn MP?

Thanks again,
Rockford

By all means, please do so.

You miss 100% of the shots you don't take. - Wayne Gretsky
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  #25 (permalink)
 Rockford 
West Branch, Mi, USA
 
Experience: Intermediate
Platform: Sierra Chart
Broker: TradePro/TransAct
Trading: NQ, CL
Posts: 59 since Nov 2012
Thanks Given: 10
Thanks Received: 11


CenFlo View Post
By all means, please do so.

CenFlo, your chart looks great. Thanks a lot, I really appreciate it. I wanted to ask, do you use a time based chart, or something different for entries etc?

Rockford

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  #26 (permalink)
 
CenFlo's Avatar
 CenFlo 
Tampa FL
 
Experience: None
Platform: TOS/TradingView
Broker: TDA
Trading: Equities/Cryptos
Posts: 642 since Apr 2016
Thanks Given: 830
Thanks Received: 960


Rockford View Post
CenFlo, your chart looks great. Thanks a lot, I really appreciate it. I wanted to ask, do you use a time based chart, or something different for entries etc?

Rockford

I presume you mean for trade entries? Do you mind being a little more specific?

You miss 100% of the shots you don't take. - Wayne Gretsky
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  #27 (permalink)
 Rockford 
West Branch, Mi, USA
 
Experience: Intermediate
Platform: Sierra Chart
Broker: TradePro/TransAct
Trading: NQ, CL
Posts: 59 since Nov 2012
Thanks Given: 10
Thanks Received: 11


CenFlo View Post
I presume you mean for trade entries? Do you mind being a little more specific?

Yes, I was just curious what you used for trade entries and exits? Time based charts, renko, volume or something else?

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  #28 (permalink)
 Hawk9 
SoCal, CA
 
Experience: Intermediate
Platform: NT
Broker: Mirus/Zen-fire
Trading: currency futures
Frequency: Every few days
Duration: Minutes
Posts: 21 since Feb 2010
Thanks Given: 4
Thanks Received: 15

Log onto the Futures chat room in TOS (RTH) to watch how Ben L. uses MP balance and imbalance areas in his trading. He has archived training webinars on TOS.

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  #29 (permalink)
 Rockford 
West Branch, Mi, USA
 
Experience: Intermediate
Platform: Sierra Chart
Broker: TradePro/TransAct
Trading: NQ, CL
Posts: 59 since Nov 2012
Thanks Given: 10
Thanks Received: 11


Hawk9 View Post
Log onto the Futures chat room in TOS (RTH) to watch how Ben L. uses MP balance and imbalance areas in his trading. He has archived training webinars on TOS.

Hi Hawk9, what is the url?

Thanks

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  #30 (permalink)
 Hawk9 
SoCal, CA
 
Experience: Intermediate
Platform: NT
Broker: Mirus/Zen-fire
Trading: currency futures
Frequency: Every few days
Duration: Minutes
Posts: 21 since Feb 2010
Thanks Given: 4
Thanks Received: 15


Rockford,
Talk to the people at TD Ameratrade to see if they will let you use their TOS trading platform.

Ben L. is in the Futures Cast Chat room in TOS.

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