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CL Light Crude Analysis TPO/MP/VWAP/VPOC


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CL Light Crude Analysis TPO/MP/VWAP/VPOC

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  #1381 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
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Posts: 6,462 since May 2011

1 off again...


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  #1382 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
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I'm out. Calling it a week. Too slow and floaty.


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  #1383 (permalink)
 kulu 
Buckeye Nation
 
Experience: Intermediate
Platform: Ninja Trader
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Patrick S View Post
Todays buy that @greenr took was a great example of how and why this system works.

@Patrick S

The bolded text bothers me. THIS is not a system. It's a way of reading the market. Sorry to jump on you on this. Market Profile is not a system ... it's a way of organizing market generated information.

Also, just coz you have a selling/buying tail doesn't mean that you have to buy/sell at those levels. You need to read the order flow. For instance, if we are approaching a selling tail and tempo is high, after an Open drive open, try and buy that tail and your lunch will be eaten by the market.

Thanks

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  #1384 (permalink)
shanemcdonald28
new york
 
Posts: 355 since Mar 2012
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Patrick S View Post
Was wondering if @josh, @Private Banker @greenr @Big Mike or anybody else knew of a trading room that would help me learn market profile.
I DO NOT want someone calling trades for me.
I want someone to interpret the action of price and interpret how to set up my charts properly.
Todays buy that @greenr took was a great example of how and why this system works.
I saw the buy on my 5m chart at 91.14 and said the hell with that. its a dang 32 tic risk!
He probably went long around 90.95 area and realized a 10-12 tic risk.
buying it on Sale!
I see these value areas on my 60min chart but lack the faith to pull the trigger because my traditional method of entry would generally give me a huge stop. OR I wait too long and pay full price only allowing me to scalp for 10.

Again I am not looking for the Holy grail of trading rooms. I am a visual learner and would do well if I could follow
someone and adapt my own personality around this system of learng fair value and price entry and risk.

j dalton has a website, he is considered a great teacher of market profile.

I have an account at TD ameritrade and use Think or Swim. Brad comments alot about market profile during his live trade room.

Peter from think or swim has a blog at shadow trader . net. It has a good daily overview.

you can get alot of education at Think or Swim with an account at TD and they dont have a minimum.
it is java based , so I cant use it to trade futures, but it has alot of charting capabilities.
It has good TPO and market profile built in and also has monkey bars.

hope it helps

shane

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  #1385 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


Patrick S View Post
Was wondering if @josh, @Private Banker @greenr @Big Mike or anybody else knew of a trading room that would help me learn market profile.
I DO NOT want someone calling trades for me.
I want someone to interpret the action of price and interpret how to set up my charts properly.
Todays buy that @greenr took was a great example of how and why this system works.
I saw the buy on my 5m chart at 91.14 and said the hell with that. its a dang 32 tic risk!
He probably went long around 90.95 area and realized a 10-12 tic risk.
buying it on Sale!
I see these value areas on my 60min chart but lack the faith to pull the trigger because my traditional method of entry would generally give me a huge stop. OR I wait too long and pay full price only allowing me to scalp for 10.

Again I am not looking for the Holy grail of trading rooms. I am a visual learner and would do well if I could follow
someone and adapt my own personality around this system of learng fair value and price entry and risk.


kulu View Post
@Patrick S

The bolded text bothers me. THIS is not a system. It's a way of reading the market. Sorry to jump on you on this. Market Profile is not a system ... it's a way of organizing market generated information.

Also, just coz you have a selling/buying tail doesn't mean that you have to buy/sell at those levels. You need to read the order flow. For instance, if we are approaching a selling tail and tempo is high, after an Open drive open, try and buy that tail and your lunch will be eaten by the market.

Thanks



All charts, indicators, methods of organizing market data (like MP or fibs or trendlines) only show what has happened. Market Profile is a view of choice for many, one that I am only recently really beginning to appreciate. But there are other ways of seeing basically the same thing. There are hundreds, if not thousands, of combinations of charts and indicators and colors, all of which can give very powerful information.

The "easy" part of trading is learning the "rules" of something like Market Profile, or some other method of calculating support and resistance, or trying to find where are the buyers and sellers. At the core, we are trying to see some "structure".

The harder part, is having enough experience to interpret that structure. And I may be wrong, but to me the only things that will help there are; education, screen time, battle scars, self-understanding, and finally getitng to the point where it does not appear random anymore, where you can visualize what is more likely to happen because you have seen it so many times.

@Patrick S, be patient, watch some of the posts here by guys like @greenr, @ Private Banker, @josh, @Tiger Trader, @Big Mike. Watch what is probably the best trading webinar collection on the internet, right here for free. Hundreds of hours of more information that you could absorb in a year. Very good stuff in there. Start a journal and see where your weak spots are. It takes time.

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  #1386 (permalink)
 
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 Big Mike 
Manta, Ecuador
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Patrick S View Post
Was wondering if @josh, @Private Banker @greenr @Big Mike or anybody else knew of a trading room that would help me learn market profile.

Better to ask such a thing in this thread:



And in there you might clarify if you want only Market Profile (time) or if you want Volume Profile (more popular on nexusfi.com (formerly BMT) probably). You should also start with the webinars on nexusfi.com (formerly BMT), there are many from FT71 and a few others that cover this subject, plus several more on the books.

Also check the Vendor Reviews section, there are discussion threads for services like this including a new AMA thread for Matt Davio's Market Profile class.



Mike

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  #1387 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
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GaryD View Post
Watch what is probably the best free trading webinar collection on the internet, right here for free. Hundreds of hours of more information that you could absorb in a year. Very good stuff in there. Start a journal and see where your weak spots are. It takes time.

Free for Elite Members, to clarify.

And yes, good advice on the journal. Don't expect a method to give you a "why", it is the traders responsibility to formulate his own edge and prove that edge through research. FT71 is always good at crunching numbers like this, I would highly recommend his most recent webinar where he covered a lot of very important topics:



Mike

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  #1388 (permalink)
 
Private Banker's Avatar
 Private Banker 
La Jolla, CA
 
Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
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Patrick S View Post
Was wondering if @josh, @Private Banker @greenr @Big Mike or anybody else knew of a trading room that would help me learn market profile.
I DO NOT want someone calling trades for me.
I want someone to interpret the action of price and interpret how to set up my charts properly.
Todays buy that @greenr took was a great example of how and why this system works.
I saw the buy on my 5m chart at 91.14 and said the hell with that. its a dang 32 tic risk!
He probably went long around 90.95 area and realized a 10-12 tic risk.
buying it on Sale!
I see these value areas on my 60min chart but lack the faith to pull the trigger because my traditional method of entry would generally give me a huge stop. OR I wait too long and pay full price only allowing me to scalp for 10.

Again I am not looking for the Holy grail of trading rooms. I am a visual learner and would do well if I could follow
someone and adapt my own personality around this system of learng fair value and price entry and risk.

I'm not aware of any trade rooms really. Have you read Jim Dalton's books? That would be a great starter for you.

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  #1389 (permalink)
 olobay 
Montreal
 
Experience: Intermediate
Platform: MultiCharts
Broker: DeepDiscountTrading.com
Trading: CL
Posts: 364 since Jul 2011


Patrick S View Post
Was wondering if @josh, @Private Banker @greenr @Big Mike or anybody else knew of a trading room that would help me learn market profile.
I DO NOT want someone calling trades for me.
I want someone to interpret the action of price and interpret how to set up my charts properly.
Todays buy that @greenr took was a great example of how and why this system works.
I saw the buy on my 5m chart at 91.14 and said the hell with that. its a dang 32 tic risk!
He probably went long around 90.95 area and realized a 10-12 tic risk.
buying it on Sale!
I see these value areas on my 60min chart but lack the faith to pull the trigger because my traditional method of entry would generally give me a huge stop. OR I wait too long and pay full price only allowing me to scalp for 10.

Again I am not looking for the Holy grail of trading rooms. I am a visual learner and would do well if I could follow
someone and adapt my own personality around this system of learng fair value and price entry and risk.

@Patrick S

Here are a couple of links. I have not subscribed to either of them but I have heard good things about JPJ Trading.

https://jpjtrading.com/

Day Trading using Market Profile

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  #1390 (permalink)
 
Private Banker's Avatar
 Private Banker 
La Jolla, CA
 
Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
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Brutus View Post
Bonus found out TT has TPO charts, not as flexible but good enuf

Some tradeable reactions of yest VAH TPO Ledge at 9152


anyone know what the numbers on top of the distribution mean?

If you click on "properties" you can customize the appearance of the chart to your liking. The X_Study charts can certainly work for a TPO graphic. You can change the font sizes, IB appearance, etc. but you can't change the IB period. Also, the X_Study is only showing the front month contract and not the continuous contract so, be careful with the previous levels as they will be off for previous contract months. Maybe there's a continuous contract in there but I could never figure it out.

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