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daytradingthefutures.com review

  #61 (permalink)
 
ThatManFromTexas's Avatar
 ThatManFromTexas 
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
Posts: 2,265 since Feb 2010
Thanks Given: 1,206
Thanks Received: 4,348


SpyderTrader View Post
Hello all,

So I just joined today as an Elite Member for the sole purpose of finding one thing out:

Can anyone tell me how these guys are creating their Market Profile indicator?

I've been in their chatroom for a few months, getting annoyed at shelling out 250 each month for what I suspect are simply pivot lines and fib levels.

However, that being said, their Market Profile levels are very good....when prices break through, they continue for at least 70-100 ticks.
Their levels also move every 5 minutes, every 10 minutes, and so on....they kind of adjust for price action throughout the day.

I guess I'm directing this thread to "Fat Tails" since he provided a lot of good commentary in the other thread about daytradingthefutures.com.....but I wanted this thread to be specific to Market Profile....and of course anyone is welcome to comment.

@SpyderTrader

Have you checked out Gomi's Market Profile in the download section?.

To get a board member's attention , type @Fat Tails . He will get a notice he was mentioned in the thread.

Yes you are right ... Fat Tails is the "Keeper of the Knowledge" on technical info.....


I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #62 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102


SpyderTrader View Post
Hello all,

So I just joined today as an Elite Member for the sole purpose of finding one thing out:

Can anyone tell me how these guys are creating their Market Profile indicator?

I've been in their chatroom for a few months, getting annoyed at shelling out 250 each month for what I suspect are simply pivot lines and fib levels.

However, that being said, their Market Profile levels are very good....when prices break through, they continue for at least 70-100 ticks.
Their levels also move every 5 minutes, every 10 minutes, and so on....they kind of adjust for price action throughout the day.

I guess I'm directing this thread to "Fat Tails" since he provided a lot of good commentary in the other thread about daytradingthefutures.com.....but I wanted this thread to be specific to Market Profile....and of course anyone is welcome to comment.


Thanks to @ThatManFromTexas that I have discovered this post. If you mention me as "@Fat Tails", then I will be alerted and read the post, otherwise I will probably not. So whenever you expect a member to respond to your post, it is a good idea to use the "@" in front of the member's name. Nobody is able to read everything.

If you want to have information on market profile, you would need to tell us which software is used and maybe attach a few charts to your post, allowing to discuss the S/R lines. Otherwise @gomi is more of an expert for market profile and volume-price-distributions than I am, he can probably help you to find what you look for.

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  #63 (permalink)
 SpyderTrader 
Chicago, Illinois
 
Experience: Beginner
Platform: Esignal
Trading: ES, NQ, Crude
Posts: 120 since Apr 2012
Thanks Given: 12
Thanks Received: 223


Hey Texas,

Thanks for the reply....checking out the stuff by Gomi is on my list of things to do today.

To be honest, I signed up as an Elite Member around 11pm, and went right to the downloads and indicators section.

There was an UNBELIEVABLE treasure trove of information, I was up till about 3am just reviewing all the different indicators available on this site.



I saw Gomi listed on the "Best of 2011" section, checked out the thread.....seems like something that is going to require a few hours to master.

So have you used Gomi's Market Profile?
What are your thoughts on it?

By the way, although I live in Chicago now....I spent 2 years working in Dallas....friggin loved it there.

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  #64 (permalink)
 
ThatManFromTexas's Avatar
 ThatManFromTexas 
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
Posts: 2,265 since Feb 2010
Thanks Given: 1,206
Thanks Received: 4,348


SpyderTrader View Post
Hey Texas,

Thanks for the reply....checking out the stuff by Gomi is on my list of things to do today.

To be honest, I signed up as an Elite Member around 11pm, and went right to the downloads and indicators section.

There was an UNBELIEVABLE treasure trove of information, I was up till about 3am just reviewing all the different indicators available on this site.



I saw Gomi listed on the "Best of 2011" section, checked out the thread.....seems like something that is going to require a few hours to master.

So have you used Gomi's Market Profile?
What are your thoughts on it?

By the way, although I live in Chicago now....I spent 2 years working in Dallas....friggin loved it there.

@SpyderTrader

Elite membership has got to be the most bang for the buck you can get ...

I don't use the Market Profile. I think it looks great... I just don't understand how to use it ... and I try not to admit stuff like that in front of @Fat Tails .... oops... I hope he doesn't see this ...

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #65 (permalink)
 SpyderTrader 
Chicago, Illinois
 
Experience: Beginner
Platform: Esignal
Trading: ES, NQ, Crude
Posts: 120 since Apr 2012
Thanks Given: 12
Thanks Received: 223


Fat Tails View Post
Thanks to @ThatManFromTexas that I have discovered this post. If you mention me as "@Fat Tails", then I will be alerted and read the post, otherwise I will probably not. So whenever you expect a member to respond to your post, it is a good idea to use the "@" in front of the member's name. Nobody is able to read everything.

If you want to have information on market profile, you would need to tell us which software is used and maybe attach a few charts to your post, allowing to discuss the S/R lines. Otherwise @gomi is more of an expert for market profile and volume-price-distributions than I am, he can probably help you to find what you look for.



Thanks for the note @Fat Tails......hmmm, well I believe the guy who runs the room, Jay Wireman uses TradeStation, and he refers to the Market Profile as containing 3 areas:

High Value Area (resistance)
Low Value Area (support)
Control Point (midpoint)

He says his Market Profile is much different than the free one that TradeStation offers, but who knows....I'd like to know if anyone has actually compared the two.

All I know is that when prices break the HVA or LVA....they really start ripping.

I would try to post some screenshots of his Market Profile in action....but its all done in the room.....he doesn't sell the Market Profile.

The reason for my post was just to wonder if anyone out there has been able to replicate it.

Anyway, I shall review the stuff by Gomi later today, hopefully he's made it user friendly

Thanks to you and Texas for replying.

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  #66 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102


SpyderTrader View Post
Thanks for the note @Fat Tails......hmmm, well I believe the guy who runs the room, Jay Wireman uses TradeStation, and he refers to the Market Profile as containing 3 areas:

High Value Area (resistance)
Low Value Area (support)
Control Point (midpoint)

He says his Market Profile is much different than the free one that TradeStation offers, but who knows....I'd like to know if anyone has actually compared the two.

All I know is that when prices break the HVA or LVA....they really start ripping.

I would try to post some screenshots of his Market Profile in action....but its all done in the room.....he doesn't sell the Market Profile.

The reason for my post was just to wonder if anyone out there has been able to replicate it.

Anyway, I shall review the stuff by Gomi later today, hopefully he's made it user friendly

Thanks to you and Texas for replying.


Sounds like the standard POC and the value area. If he uses other than the standard tradestation indicators, his indicators are probably monkey business. Not difficult to put a POC and the value area.

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  #67 (permalink)
 Ganymed 
Switzerland
 
Experience: Advanced
Platform: Ninjatrader
Trading: Futures
Posts: 40 since Jun 2009
Thanks Given: 386
Thanks Received: 30


BeachTrader View Post
I have a friend who loves this room. I haven't tried it as his site seems so "busy" and I like to keep things simple. I do have a copy of his Daily Trading Plan which I will try to attach here in case anyone is interested. Apparently you need to buy his "proprietary" indicators which is another turn-off for me.

Please delete this pdf File here. You will have problems because it's not alowed to publish it to the public if you didn't pay for the stuff.

Big Mike please delete this attachment thanks
a friend of Jay

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  #68 (permalink)
 SpyderTrader 
Chicago, Illinois
 
Experience: Beginner
Platform: Esignal
Trading: ES, NQ, Crude
Posts: 120 since Apr 2012
Thanks Given: 12
Thanks Received: 223


Fat Tails View Post
Sounds like the standard POC and the value area. If he uses other than the standard tradestation indicators, his indicators are probably monkey business. Not difficult to put a POC and the value area.



@Fat Tails

Whoops...POC? Whats that? and where can i find it?

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  #69 (permalink)
 
BeachTrader's Avatar
 BeachTrader 
Phoenix AZ
 
Experience: Beginner
Platform: NinjaTrader
Broker: AMP / CQG
Trading: CL, ES, NQ
Posts: 310 since Nov 2011
Thanks Given: 153
Thanks Received: 432


Ganymed View Post
Please delete this pdf File here. You will have problems because it's not alowed to publish it to the public if you didn't pay for the stuff.

Big Mike please delete this attachment thanks
a friend of Jay


Just to clarify, I got the PDF free on his site so it was (or still is) available to the public. I have never tried his services and wouldn't have posted it if it was not freely available. Up to Mike if he wants to remove it.

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  #70 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102



SpyderTrader View Post
@Fat Tails

Whoops...POC? Whats that? and where can i find it?

POC = Point of Control. Market Profile slang for the (statistical) mode of a volume-price-distribution. Why don't you just click it to access the wiki?

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