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Robert,
Thanks I am speaking from my first take of it and haven't studied the book.
Still will bet you
a nickle someone has persued this to the nth and has a pattern book written
out.
Do you now use the profile? Or just use the distillation of the results of
Daltons book?
It is interesting that alot of focus is played out on the open. I bet there
is also focus to determine
the pattern set up into 1:30 to 2 pm..
Subject: RE: [RT] ..Trading Profession? Market Profile
> don,
>
> i used to have the exact same view of market profile....but
>
> if you read the dalton book you'll see that the idea of a day filling out
a
> bell curve is related only to a particular set of circumstances. if i
> remember right when the day opens inside yesterday's value area and
proceeds
> to just auction around the opening price in the first hour then dalton/mp
> makes an estimate that today will be a low range day trading in a bell
curve
> fashion.
>
> but then mp classifies days into several different types each with an
> "expected" profile depending on the opening action.
>
> for example, when the day opens outside yesterday's range (an unbalanced
> open they call it) and proceeds to auction around the open or does an
> immediate open-drive then dalton/mp suggests just go with it which ever
way
> it goes as the chances are high of getting a trend day. bit like the last
2
> days in the s&ps.
>
> Regards,
>
> Robert
>
> BTW CQG do an excellent Market Profile charting service.
>
> -----Original Message-----
> From: Don Thompson [mailto:detomps@xxxxxxxxxxx]
> Sent: 05 May 2001 18:19
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: [RT] ..Trading Profession? Market Profile
>
>
> I heard also that Steidelmeyer is one of the few who can use market
profile
> to advantage.
> He didn't make his money using Market Profile to begin with.
> So, Ira speaks from the experience of life.
>
> The problem with the profile is that there an assuption that the market
will
> bell curve and this
> is going to be an advantage. uh guess what it don't have to do that. So
it
> is a method of
> determining a pattern,
>
> Clyde Lee will make his million by getting a data base program to identify
> today's market profile
> with similiar profiles going back to '82... and seeing how they work out
the
> next day.
>
> blah blah blah..
>
> Don Thompson
>
>
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