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RT's,
Out of the 100+ trading books that I've spent thousands of dollars on I
believe Mind Over Markets by Dalton is probably the best at "explaining"
price movement. I look at the markets differently (more objectively)since
reading his book.
Two sayings in the book that help me keep focused while trading the SPoo's;
1) The purpose of ANY market is to facilitate trade and prices will return
to high volume areas or create new one; 2) Keep asking yourself which way is
the market trying to go AND is it doing a good job at achieving this.
InvestorRT software at www.linnsoft.com (not affiliated just a user)also
does nicely at showing intraday Market Profile.
Just my input,
Howard Hopkins
>From: "Robert Hodge" <r-hodge@xxxxxxxxxxxxxxx>
>Reply-To: realtraders@xxxxxxxxxxxxxxx
>To: <realtraders@xxxxxxxxxxxxxxx>
>Subject: RE: [RT] ..Trading Profession? Market Profile
>Date: Sat, 5 May 2001 18:58:52 +0100
>
>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:
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>
>
>
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>
>
>
>
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