Glad to hear of your breakthrough!
About how many live trades have you taken with your MP methodolgy so far?
I have had a brief look at MP but it requires quite a bit if time that I dont quite have right now..but I do keep wondering about it and will set aside some serious study time at some point soon.
Lindsay
The following user says Thank You to Linds for this post:
I have taken 9 trades so far 6 made money, one was a break-even and two losers!
The six part training manual put out by CBOT back in the 80's was my foundation. I have it in PDF format, it walks you thru baby steps and includes great charts and diagrams. Its about 200 pages rich. Just don't know how to upload here, otherwise I would.
All the other books and the intensive boot camp assumes you already know the fundamentals. Market Profile is not easy to master, so I guess 90% of traders don't use it, but remember according to stats, over 90% ot traders lose!
So maybe it;s a ggggoooooodddd thing that learning this is not easy!!!!
I've been looking at the daily recaps from the inthetradingzone (L2ST) guys who also trade market profile, and they will go as many as 3 or 4 days without taking a trade, but when they do take a trade, they will generally ride it all day and get 150-250 ticks from the DAX. I definitely don't have the patience for few trades, nor the stomach to stay in a trade that long, so it has to suit your personality. How many trades do you generally take per day? per week?
Based on the Market Profile, I usually take One trade, Maybe too. The nice thing about trading with Market Profile is that you can't get trigger happy. You take a well calculated trade or two with at least a 2:1 risk/reward ratio or better.
LOL..... Hey, If I can try to spare others the expense that this journey cost me I will. And if I can find something that works and someone who is genuine, honest and truely a master trader like Reza, I feel compelled to spread the word. In fact if there is any real interest in trading with Market Profile, I would be honored to ask Reza To jump aboard with some expert advice and tips.
Yes it is a very powerful tool indeed, gives me a holistic view of the market like nothing I have ever seen before!
Do you merge multiple profiles together to get a longer time frame picture of the market? I do both, analyze the sessions and the longer term profile the nite before.
