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Tim,
if i understand you correctly, i believe you are right there.
i have not done the statistics but i have noticed that if i take a simple
trading model and then limit its entries/exits to various times of the day i
get a more profitable simple trading model when the entry and exit times are
not near to the open or close.
Regards,
Robert
-----Original Message-----
From: Timothy Morge [mailto:tmorge@xxxxxxxxxxxxxxx]
Sent: 05 May 2001 20:57
To: realtraders@xxxxxxxxxxxxxxx
Subject: RE: [RT] ? Market Profile
Robert:
I'd suggest that instead of thinking of the open as a meaningless time that
has now been left behind, you do some statistics on specific time periods
in markets that trade 24 hours a day--Cash FX, for example. The open period
is not moot--although it may not always be the most critical time
period found in any commodities trading period.
To boil it down to a few words: There are specific repeatable critical
times that occur frequently in a given commodity. I have seen the data,
[run on a series of machines that would make Mark whistle and drool] and I
have seen the results.
Best,
Tim Morge
At 08:42 PM 5/5/01 +0100, you wrote:
>not directly...but i learned a lot from it...;)
>
>the issue of the open is moot...just what constitutes an open these days?
>Historically I suspect the the open-focus arose because in the past by that
>point the important economic numbers were already out and CBOT markets like
>tbonds called the tune over equities not the other way round...so after
>maybe an hour of bond trading the future character of the day may well have
>been reasonably well defined.
>
>now if you trade the eurobund you have 1) the open at 7am London time, 2)
>(my data service start quoting) cash bonds at 7.15 3) European stocks
>opening at 8am 4) news dotted around the european morning before 5) 1.30
>news in the US and then 6) 2.30 stocks open US...
>
>that's an awful lot of "noise" to contend with...
>
>Regards,
>
>Robert
>
>-----Original Message-----
>From: Don Thompson [mailto:detomps@xxxxxxxxxxx]
>Sent: 05 May 2001 19:28
>To: realtraders@xxxxxxxxxxxxxxx
>Subject: Re: [RT] ? Market Profile
>
>
>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
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
> >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
>
>To unsubscribe from this group, send an email to:
>realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
>Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
>
>
>
>To unsubscribe from this group, send an email to:
>realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
>Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
To unsubscribe from this group, send an email to:
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