Market Profile initial balance

I've played around with MP but could not see the advantage in using it. The direction of the trend is the most important part of my trading as I should imagine it is with everyone. That information is available, just as easily, on price charts. As for extremes, a bar chart sorts them from the fair value, which is only the price passing through the maximum number of bars over the period.

I agree that there is,probably, a lot more studying to do on MP and that I may be making this more simple than it is.

As with any indicator or the like, if you spend enough time you'll be able to sort out what a particular price pattern means in those terms. MP is no different. For me, it's the underlying idea of what MP is showing you that is the real value.

Hi Rhody thanks for your help.

I'm a daytrader as well. So i would probably need to consider IB as the first two hours.

But I've a question for you, where do you watch the futures session? I personally use Broco Trader and I'm trading in the 6E which should be the CME euro/dollar session right? but how come that on this broker I see anyway a session of 24 hours? how can I see the actual chicago features session?

Splitlink I find the MP really interesting because of the philosophy behind it, which give a sense to everything more than any other technique i studied. Is just that with it i feel more to do stuff because i understand the mechanism behind it and not like i'm simply following the usual strategy without knowing the very reasons behind it.
But in the end MP is just a way to better organize the same data that a better trader could see in a simple bar chart.

Sergio - check out this guy - http://www.futurestrader71.com/2010/...n-archive.html

He has an interesting take on profiling

You're looking at the electronic contract, which trades 24 hours. You may need to look at EC to see just the pit session, but I'm not 100% sure on that. I don't personally watch the futures when trading forex.

but do you use Market Profile for the FOREX?

Do you know were can I axcess the EC price movements? i just need the High and Low for each haf hour.

Sergio - you looking for free info or you want this stuff on a platform ?

I'm looking for free infos. Platform i guess are all to be paid, and I'm just a beginner which wants to learn, not a good idea start paying before to earn anything.

I'm actually programming an excell sheet with macros that once inserted the Highs and Lows for every day, calculates the Profiles for an whole week with Value Areas, TPO count, Auction Points, Initial Balance. And which shows the profiles with letters like it appears on the books (WindoTrader alike).

I will share it with all of you once finished, but meanwhile i would like to make it with the most correct basis possible.

first of all I was wondering if it is worth considering the MP with forex spot data.