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I see a lot of traders that are trying to use VP as a signal generator, like go short at naked VAH or long at VAL. Absolutely will. not. work.
Trying to use profile like that is like trying to use any indicator like that, none of them are going to give you an edge when used in such a way.
But if you understand the auction process and try to answer the question of what the market is trying to do vs what it has done, I think profile along with really any other simple entry signal is enough to make you a good trader, if you also use good trade and risk management.
Yes not many traders understand this simple concept MP/VP is not a system or indicator it is just a visual representation of price/volume distribution on a vertical scale.Its upto you how you interpret the information & use it in your decision making.
I noticed a few traders have a chart for "trade management". I don't. When I really think about it, I realize have everything I watch there for trade entry, not trade exit. I get out when I feel like it. Is that ego? Do my spidey-senses start tingling?
That reminds me of a time @josh was trading ES at triple/quad witching, and said something like "ES is going here and there is no red or green flash that is going to change it." Rule based, not feeling based.
For me, precise entry is 50% red or green flash. Much like I assume traders use volume ladder. (which is still the most annoying way to watch a market to me, but I keep trying.)