Starting with Market Profile and New here

permalink · December 13th, 2016, 05:15 PM

Rockford

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

It really depends on the time of day and my thoughts on where the market may go. Premarket / evening-overnight, I look for small moves that I can scalp in / out and hopefully grab 1-2 points.

I will go with OTF trades if I feel the market is really extended up/down and recently missed a really nice one with the /NQ getting beat down after the Italy vote... It was staring me right in the eyes and I didn't take the trade. 200 up points later, I'm kicking myself, but hindsight is always 20/20.

/NQ - tech has been the only sector really lagging and today it appears that it fully caught up to the other sectors. I felt it was coming, but didn't pull the trigger. UGGGHHH.

As for my RTH chart set up, I use a (/ES) 1 Min with a simple daily VWAP, 5 Min that I mark ONH / ONL and S / R lines, 15 Min chart with R1 - R3, S1 - S3 and Pivot Point, the R#'s and S#'s lines will show relative to where the market is.

I also have a small version of MP, NYSE Tick indicator and a Tillson (T3) indicator that essentiall red light / green light on the market movement.

It probably sounds like a lot or to much, but my main focus is typically the 5 Min chart and what the market is doing between the S/ R lines and the NYSE tick to get in / out on tick pop /drop depending on direction of trade and market movement.

I'm no market wizard here, there a plenty of peeps here that are much better and more advanced trader(s) than I.

Also, I've been using Sierra Charts for 6 months now and haven't complete found a set up that I feel is ideal.

permalink · December 13th, 2016, 06:12 PM

@CenFlo I hope you don't mind me asking you a few questions...

What time during the night session do you scalp, and do you scalp the ES or NQ?

When you say you mark your 5 min with ONH/ONL, do you counter trade them?

I'm not familiar with Tillson indicator?

What do you use to determine trend, and is it on your 5 min. or 15 min chart?

Thanks a lot,
Rockford

permalink · December 14th, 2016, 01:10 PM

Maizietrader

Hello Everyone,

I am new and really excited to have found this. I spent most of the night browsing around, what a great place.

I am starting my journey here, my first item is to learn market profile. I have been looking around but maybe I missed, is there a thread for newbie like me to start following. I have TS and TOS but now I was looking at RT and Linnsoft to really dedicate sometime to learn. any advice on where to start will be appreciated.

If also you can recommend one book to read about market profile then this would be great. I just learn better reading a book first to have a context

Thank you all and looking forward to being a member in this amazing forum

i have found this
Steidlmayer Volume Strips: J. Peter Steidlmayer - [AUTOLINK]CME[/AUTOLINK] Group

there is also a book about market profile inside the cmegroup site but i couldnt find the link

permalink · December 14th, 2016, 06:23 PM

@CenFlo

I wasn't familiar with the name T3, I knew it as triple ema. When you have time, can you tell me the settings you're using for T3? I'm assuming you're using it to determine trend on your 15 minute chart. Is this correct?

Thanks a lot,
Rockford

permalink · December 16th, 2016, 10:14 PM

Regarding the T3 study, the settings I'm using are Last, Length 9, Multiplier .70.

The T3 along with the Zig Zag swing High's and Low's seems to be working out real well determining Trend.

If anyone has better settings for the T3, please let me know.

permalink · December 20th, 2016, 03:26 PM

Rockford

@CenFlo I hope you don't mind me asking you a few questions...

What time during the night session do you scalp, and do you scalp the ES or NQ?

When you say you mark your 5 min with ONH/ONL, do you counter trade them?

I'm not familiar with Tillson indicator?

What do you use to determine trend, and is it on your 5 min. or 15 min chart?

Thanks a lot,
Rockford

I primarily trade the /ES, on occasion the /NQ or other markets (/DX, /GC or /ZB), but for the most part it's just /ES. I learned earlier in the year that I was trying to trade to many markets and decided to focus on the /ES.

I typically trade the Asian session as the Euro session is to late, but I occasionally will trade the Euro session if my schedule the next day allows it.

I always mark the RTH High / Low for the ETH sessions and put in support lines from where the /ES was trading during the US RTH for clues to what **may** happen during the ETH into Asia.

Japanese > Hong Kong > China is the way the Asian markets open and they have news releases and trends just like we do in our market(s). They also break for lunch, so there are some nuances that they have that we really don't have in our RTH market. They also will have prior day support, so I keep that in mind on which way they **may** move.

permalink · December 20th, 2016, 03:37 PM

Rockford

@CenFlo

I wasn't familiar with the name T3, I knew it as triple ema. When you have time, can you tell me the settings you're using for T3? I'm assuming you're using it to determine trend on your 15 minute chart. Is this correct?

Thanks a lot,
Rockford

I use it as a stand alone indicator and it's more for seeing the trend on a "clean" chart with very little else on it.

I call it the "Green Light, Red Light" indicator and tend to look at it when I'm tired of looking at my main charts.

permalink · December 20th, 2016, 06:59 PM

CenFlo

I primarily trade the /ES, on occasion the /NQ or other markets (/DX, /GC or /ZB), but for the most part it's just /ES. I learned earlier in the year that I was trying to trade to many markets and decided to focus on the /ES.

I typically trade the Asian session as the Euro session is to late, but I occasionally will trade the Euro session if my schedule the next day allows it.

I always mark the RTH High / Low for the ETH sessions and put in support lines from where the /ES was trading during the US RTH for clues to what **may** happen during the ETH into Asia.

Japanese > Hong Kong > China is the way the Asian markets open and they have news releases and trends just like we do in our market(s). They also break for lunch, so there are some nuances that they have that we really don't have in our RTH market. They also will have prior day support, so I keep that in mind on which way they **may** move.

I've been trading futures (mainly NQ) for about a year. I'm not real fond of ES, it's to slow for me. I wish I liked the ES, I'd save a lot in commissions.

I traded the European and London open for about 5 years, trading the spot forex.

permalink · December 20th, 2016, 07:01 PM

CenFlo

I use it as a stand alone indicator and it's more for seeing the trend on a "clean" chart with very little else on it.

I call it the "Green Light, Red Light" indicator and tend to look at it when I'm tired of looking at my main charts.

If you don't mind, what indicator is that... your Green Light/Red Light indicator? What settings are you using?

permalink · December 21st, 2016, 01:47 PM

Rockford

If you don't mind, what indicator is that... your Green Light/Red Light indicator? What settings are you using?

I called it the Delta 7F. It's a /ES 3 Min chart with a EMA and average price per bar.

Attached, feel free to use and change. If you're able to make changes that show the trend better, I'd like to see it. I have removed the price lines as I wanted it as simple as possible, those can be added back in if you so choose.

It's based of off Don Miller's F6 Delta indicator, but much more simple. I use it as a small indicator on my main charting screen and only look back an hour during /ES RTH.

Starting with Market Profile and New here

Discussion in Traders Hideout

Starting with Market Profile and New here