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PureBytes Links
Trading Reference Links
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Just thought I would pass this URL along for those who might be interested
in pursuing the Market Profile way of price evaluation.
http://216.88.105.92/profile.html
This one will run in TS2k service pack 5 on the DTN satellite feed. The MP
is kinda new to me since I've only been studying it for a few weeks on Don
Thompson's insistance that there is something of significance there in
picking entries and exits. This post isn't mean't to be an advertisement
for any service or product, but to share the mp resources I've come up with
that you might find useful. Since the concept has been around for over a
decade or two it makes you wonder why its use is not more widely spread or
talked about. Perhaps it is, but not in RT circles. CQG does have it on
their service.
Here are a few resources I've found helpful in learning to trade with MP.
There was an excellent audio taped workshop by Joel Marver at the TAG XI and
another by Doc Haynie at TAG X. Joel also wrote two articles for Futures
magazine in March and May 2000 describing Steidlmayer's latest thinking.
Kaufman's "Trading Systems and Methods" has a chapter on price distribution
pg 458 that gives an excellent introduction to MP. I am continually amazed
at the completeness of Kauman's book and turn to it first when looking up
any trading topic. If you have the TASC issues for the 1988 year or the
TASC CD you will find some early articles on the subject. Then there are
the books referred to often such as Dalton's "Mind Over Markets" in reprint
by Traders Press. One website that has a lot of info and a free electronic
version of "Value Based Power Trading" by Donald Jones is
http://www.cisco-futures.com. Steidlymayer's site is
http://www.Steidlmayer.com. Dalton's is http://www.daltongrouptrading.com.
http://www.sirtrade.com has some descriptive info on two important
indicators to be used with MP. One is the TFI or Trade Facilitation Index
and the other is the Rotation Index. I've been told that MP is waiting for
service pack 6.
The TS2k Activity Bars have some value, especially the Buyers vs Sellers.
This requires price in data 1 and the Bid and Ask in data 2 and 3. The
Activity Bars are a far cry from a fully blown MP software pkg like
Steidlmayers that uses the Liquidity Data Bank to refine the analysis. One
last thing, Joel mentions on his tapes that an important use of MP as that
of reducing risk. From what I have seen so far in comparing a price vs time
chart and an Activity Bar or MP chart I would concur with that.
bobr
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