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Market profile entries/exits


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Market profile entries/exits

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  #1 (permalink)
South bend, Indiana
 
 
Posts: 9 since May 2020
Thanks: 6 given, 1 received

Hi all.
Iíve recently started studying market profile, trying to really get to the depths of it.
I understand all the standard concepts, key levels etc, but Iím having a bit of a hard time seeing the right entry/exit points.

For any of you with any experience/expertise in the subject, any information would be appreciated.

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  #2 (permalink)
Ho Chi Minh City, Vietnam
 
 
Posts: 1 since Jul 2020
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Also still new but here is what I do. Use the market profile + volume profile to find price levels.

Take these levels and look at intraday charts to see if they are actually well respected.

Now ideally market travels from level to level.
So you place your entry and exit based on if the level breaks or holds and how far the next level is. I always wait to see if the level is being an obstacle before entering the trade.

Also think of where your stoploss is going to be and base your entry on that. You want a good risk and reward trade.

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  #3 (permalink)
Bremen
 
 
Posts: 4 since Jun 2020
Thanks: 2 given, 3 received


Hi,

I wouldnt call myself an expert in this at all but I utilise this approach as well. You could also use price support and resistance zone as an additional confirmation.

If you have a look to the ES right yesterday. You will notice a volume cluster at 3135. Initiative came at about 12:30, brought up the price. Price then retested 3135 and moved towards 3142.

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  #4 (permalink)
Legendary Market Wizard
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, HSI, Nikkei
 
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Posts: 5,466 since Jan 2011
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ironyitz View Post
Iíve recently started studying market profile, trying to really get to the depths of it.
I understand all the standard concepts, key levels etc, but Iím having a bit of a hard time seeing the right entry/exit points.

For any of you with any experience/expertise in the subject, any information would be appreciated.


Specifically, what are "all the standard concepts" that you understand? It's hard to get deeper without knowing what your current understanding is.

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  #5 (permalink)
South bend, Indiana
 
 
Posts: 9 since May 2020
Thanks: 6 given, 1 received


josh View Post
Specifically, what are "all the standard concepts" that you understand? It's hard to get deeper without knowing what your current understanding is.



Hi Josh thanks for answering.
When I say I understand the basics I mean to say that I know all about the POC, VAís, IB, range extensions, developing values, as well as just putting in screen time trying to understand the order flow of the market and the significance of all these levels.
I feel like Iím still lacking something though (I mean Iím somewhat of a beginner to the profile so probably more than one) in that although I can identify all these key levels, Iím still not sure at what points I should enter, and then once in a trade, Iím very conflicted on my exits.

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  #6 (permalink)
Legendary Market Wizard
Georgia, US
 
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Broker: AMP+CQG
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Posts: 5,466 since Jan 2011
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ironyitz View Post
Hi Josh thanks for answering.
When I say I understand the basics I mean to say that I know all about the POC, VAís, IB, range extensions, developing values, as well as just putting in screen time trying to understand the order flow of the market and the significance of all these levels.
I feel like Iím still lacking something though (I mean Iím somewhat of a beginner to the profile so probably more than one) in that although I can identify all these key levels, Iím still not sure at what points I should enter, and then once in a trade, Iím very conflicted on my exits.


That's the beauty of it -- a profile is not a trading system, nor does it produce signals, nor does it tell you to enter or exit. If you stop trying to use it for trading, you can focus on what it is, and listen to what it's telling you. Two main principles have stuck with me for years of trading using profiles: value, and excess. What do you know about those?

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  #7 (permalink)
South bend, Indiana
 
 
Posts: 9 since May 2020
Thanks: 6 given, 1 received

Yeah so as far as I know value is what you continually look at compared to previous values, excess sounds like a term Iíve heard but I canít say I actually know or incorporate it anyway to my trading.

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  #8 (permalink)
Legendary Market Wizard
Georgia, US
 
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Platform: SC
Broker: AMP+CQG
Trading: ES, HSI, Nikkei
 
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Posts: 5,466 since Jan 2011
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ironyitz View Post
Yeah so as far as I know value is what you continually look at compared to previous values, excess sounds like a term Iíve heard but I canít say I actually know or incorporate it anyway to my trading.


There's a classic MP book called "Mind Over Markets" ... I've heard you can find a PDF if you search for it. Read it, there's a lot you can learn there.

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  #9 (permalink)
South bend, Indiana
 
 
Posts: 9 since May 2020
Thanks: 6 given, 1 received


josh View Post
There's a classic MP book called "Mind Over Markets" ... I've heard you can find a PDF if you search for it. Read it, there's a lot you can learn there.



Thanks. It was on my list of books to get actually so Iíll try and read it

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  #10 (permalink)
South bend, Indiana
 
 
Posts: 9 since May 2020
Thanks: 6 given, 1 received



josh View Post
There's a classic MP book called "Mind Over Markets" ... I've heard you can find a PDF if you search for it. Read it, there's a lot you can learn there.



Thanks. It was on my list of books to buy actually so Iíll definitely try and read it.

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