|
PureBytes Links
Trading Reference Links
|
I use market profile charts to give me a quick feel for
where the market has been, where it has spent time and what
levels to 'watch' for support, resistance and trend changes.
Think of MPs as visual sorting mechanisms: If you overslept
this morning and didn't trade the break on Greenspan's
comments, you can pull up a market profile and see where
price is trying to normalize after the sever sell-off.
For me, it's not a stand alone tool. It's just a visual tool
that can give a better feel at times.
Best,
Tim Morge
"N.Hernandez" wrote:
>
> Market Profile is a frequency distribution
> of intraday price movement but it uses time,
> rather than volume as it's independant variable.
>
> When this data is plotted on a chart it usually forms a bell curve.
> you simply by at lower price end of bell curve and sell at higher end.
>
> With proper studying, traders are able to identify
> market participants by timeframe and patterns of trading.
>
> In essence, you start to think like a floor trader.
>
> Hope this helps.
>
> Isaac
>
> -----Original Message-----
> From: jdfo [mailto:jdfo@xxxxxxxxx]
> Sent: Thursday, July 22, 1999 10:37 AM
> To: Omega List
> Cc: Real Traders
> Subject: MarketProfile
>
> Recently several people have submitted codes for Market Profile. What is
> the attraction here? And what submitted code actually can be installed in
> Trade Station. Does this tool really provide assistance in day trading and
> if so, on what markets?
>
> If it is helpful, will someone provide a working code so I and others can
> install it in Trade Station.
>
> Many thanks,
>
> John
|