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JPJ Trading Review Market Profile (www.jpjtrading.com)


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JPJ Trading Review Market Profile (www.jpjtrading.com)

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  #41 (permalink)
New York, United States
 
Experience: Beginner
Platform: NinjaTrader,TradeStation
Broker: Optimus/Rithmic
Trading: ES
 
Ben16JP2's Avatar
 
Posts: 75 since Oct 2010
Thanks: 179 given, 33 received


TI Anon View Post
Ben16JP2

He was unable to find any meaningful statistical edge, over time, for any of JP's setups.

It should be noted that Steidlmayer, the creator of Market Profile, has recently said "time format tools including Market Profile and moving averages have lost their value in today's electronic markets." If the guy that created it doesn't think it has value in today's market, I say "be careful!!!"

(Listen for yourself to his August presentation at the CME, if you doubt the quote. It is also obvious MP was designed for use on commodities, with finite supply and demand; as opposed to index futures that in theory have unlimited supply, as they are settled for cash as opposed to actual delivery. This can lead to a profound difference in the make-up and behavior of the markets.)

For the month I have been in JP's room there looks to me like there is an edge, just from the trades JP has called and explained while I was in the room.

I'll take your advice TI Anon, (be careful) but what I have seen, heard and learned for myself in JP's room for the first month it was worth the $400.00 and I'll give the 2nd month a try.

JP has mentioned that he has been using Market Delta and has started to teach a little bit on how he is using that. He has also looked at the Video on Volume Strips to see if this is something that can be used.

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  #42 (permalink)
London, England
 
Experience: Intermediate
Platform: Ninja
Broker: Mirus Futures/Zen-Fire
Trading: EUR
 
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Posts: 337 since Sep 2010
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Ben16JP2 View Post
For the month I have been in JP's room there looks to me like there is an edge, just from the trades JP has called and explained while I was in the room.

I'll take your advice TI Anon, (be careful) but what I have seen, heard and learned for myself in JP's room for the first month it was worth the $400.00 and I'll give the 2nd month a try.

Guy's

Whomsoever wants to learn MP JP's room is a good place to start, but you still have to do your own study of MP. Re-read all the books on MP,not once but 3 or 4 times. MP is not a trading system and was never meant to be. JP created those setups himself over time. If you use MP to provide you with a structure of the market and to provide you with market generated information then you can obtain a statistical advantage without doubt but if you just want to join JP's room for setups without being able to read MP generated data for yourself then when you stop making money you will say that JP's setups do not work but, they are just setups.

Always, Always apply context to your trading. Know when a market is balanced or unbalanced, know when it is short invnetory or long inventory and what is likely to follow as a result, know when the profile is complete and where is not, know areas on the profile where it is likley to revist and why. If you are just taking a setup because it is a setup that way then you always have to take the setup and trade like JP. Use the profile to derive information about what happened in the market and therefore as a result a number of sceanrios could play out now you are not thinking in terms of setups but probabilities and using dedductive reasonging so please stop saying JP's setups do not work.

Also learn about order flow

Remember MP is just a graphical interface that allows you to see the market in 3D.

Good luck and God speed.

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  #43 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES, 6E
 
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Posts: 281 since Aug 2010
Thanks: 199 given, 323 received



TI Anon View Post
I am sure to further the causes of fairness and credibility you will, be happy, to provide detailed and verifiable proof of your claims. You can be that member whose voice can be heard, but only with real proof and not personal attacks.

Trading results involve more than methods and setups. Results also involve proper psychological, emotional and mental restraint. Please prove to us that you also have used proper trading discipline, patience, emotional control and money management in every one of your trades.

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  #44 (permalink)
Wash DC
 
 
Posts: 66 since Sep 2011
Thanks: 8 given, 25 received


zer0 View Post
This is true. I went to Peter Steidlmayer's latest seminar (this week) at the CBOT. Peter made it rather clear that Market Profile is not as effective as it once was. In its place, he now endorses his new 'Volume Strip' methodology and associated software. I was fortunate enough to meet the man while I was there; a nice guy to be sure. Oh yeah, and the 'Volume Strip' software is currently available only as an add-on for CTS T4

Wonder who the salesman is...

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  #45 (permalink)
London, England
 
Experience: Intermediate
Platform: Ninja
Broker: Mirus Futures/Zen-Fire
Trading: EUR
 
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Posts: 337 since Sep 2010
Thanks: 378 given, 229 received

@Big Mike

BM if you really want an officiado on MP why not try and get Jim Dalton. I learnt MP from Jim and to be honest is there anyone better. Jim will not show you setups but will equip you with the knowledge on how to read the profile and how to interpret it then you can make the trading decisions yourself and not rely on a setup but be informed real market generated information. Worth a go.

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  #46 (permalink)
Charlotte NC
 
Experience: Advanced
Platform: Charts:Ninja Trader w/IB, execution:TOS
Broker: TOS
Trading: CL, ES, ZN, ZB, RUT.
 
Posts: 232 since Jul 2009
Thanks: 98 given, 122 received


Trafford View Post
Guy's

Whomsoever wants to learn MP JP's room is a good place to start, but you still have to do your own study of MP. Re-read all the books on MP,not once but 3 or 4 times. MP is not a trading system and was never meant to be. JP created those setups himself over time. If you use MP to provide you with a structure of the market and to provide you with market generated information then you can obtain a statistical advantage without doubt but if you just want to join JP's room for setups without being able to read MP generated data for yourself then when you stop making money you will say that JP's setups do not work but, they are just setups.

Always, Always apply context to your trading. Know when a market is balanced or unbalanced, know when it is short invnetory or long inventory and what is likely to follow as a result, know when the profile is complete and where is not, know areas on the profile where it is likley to revist and why. If you are just taking a setup because it is a setup that way then you always have to take the setup and trade like JP. Use the profile to derive information about what happened in the market and therefore as a result a number of sceanrios could play out now you are not thinking in terms of setups but probabilities and using dedductive reasonging so please stop saying JP's setups do not work.

Also learn about order flow

Remember MP is just a graphical interface that allows you to see the market in 3D.

Good luck and God speed.

Trat,
Daily, weekly or both?

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  #47 (permalink)
London, England
 
Experience: Intermediate
Platform: Ninja
Broker: Mirus Futures/Zen-Fire
Trading: EUR
 
Trafford's Avatar
 
Posts: 337 since Sep 2010
Thanks: 378 given, 229 received

Meyer,

Both, weekly profiles are very good though. You can also you can use bar charts as they are just as good as MP charts only thing in my humble opinion is that MP gives you information on the horizontal axis whereas candlesticks just gives you information purely on a vertical axis but you can get round this. I use candlesticks in my day trading on a 15M, 30M and 60M.chart. @Fat Tails has some really good indicators such as his auction bars that you can use to determine the trend and consolidation areas of the market which I do use.

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  #48 (permalink)
London, England
 
Experience: Intermediate
Platform: Ninja
Broker: Mirus Futures/Zen-Fire
Trading: EUR
 
Trafford's Avatar
 
Posts: 337 since Sep 2010
Thanks: 378 given, 229 received


meyer99 View Post
Trat,
Daily, weekly or both?


@meyer99 if you look at a weekly profile you can see the benefit immediately. Prior 2 weeks POC and HVN was 1207-1206.75 which made it a a key under/over level.Last weeks HVN and POC was 1234-1235. But they say MP does not work anymore

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  #49 (permalink)
Charlotte NC
 
Experience: Advanced
Platform: Charts:Ninja Trader w/IB, execution:TOS
Broker: TOS
Trading: CL, ES, ZN, ZB, RUT.
 
Posts: 232 since Jul 2009
Thanks: 98 given, 122 received


meyer99 View Post
True some members trade CL and 6E (including myself), but nobody uses MP the way JP teaches to trade these products that are practically 24 hour markets.
JP set ups are mainly based on RTH.

I should add that like everything else out there, JP setups work sometimes and do not work other times (surprise, surprise).
People join the room to find the magic set ups, but the real lesson (and worth the $1,200) is to see his trade management in action (hardly ever takes a trade that is not on his plan, never misses a trade that is in his plan (unless he gets distracted), he is impatient with losses and very patient with trades that go his way). But you guys read all this a million times in this forum no?

This was a good week for the new people on JP's room to understand what I wrote above. The set ups work sometimes and do not work other times. When they do not work the result is a small loss, when they work JP will milk the trade all day long. Could it be any simpler?

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  #50 (permalink)
Chicago, IL/USA
 
Experience: Advanced
Platform: CTS T4/Sierra Chart
Trading: Futures
 
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Posts: 139 since Jun 2011
Thanks: 49 given, 190 received


@Frank Ricard

Is this an underhanded accusation that I'm a shill? Let's not mince words. Once I'm clear on your intent, I'll become equally clear on what I think of it.


Frank Ricard View Post
Wonder who the salesman is...


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