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A third good questions is, "why did price stop here?".
Howard Hopkins wrote:
> 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:
> >realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> >Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
> >
> >
> >
> >
>
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