Market Profile initial balance

This is a discussion on Market Profile initial balance within the First Steps forums, part of the Reception category; Originally Posted by DionysusToast Sergio - you looking for free info or you want this stuff on a platform ? ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Dec 22, 2010, 2:52pm   #16
Joined Dec 2010
Re: Market Profile initial balance

Quote:
Originally Posted by DionysusToast View Post
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.

Last edited by sergio83; Dec 22, 2010 at 3:07pm.
sergio83 is offline   Reply With Quote
Old Dec 22, 2010, 4:17pm   #17
Joined Dec 2004
Re: Market Profile initial balance

Quote:
Originally Posted by sergio83 View Post
but do you use Market Profile for the FOREX?
I have been known to, though more for swing timeframe work than intraday. That's no suggestion you can't do the latter. I just have other short-term considerations to manage.

Obviously, you're only talking TPOs when dealing with spot forex - no volume.

Quote:
Do you know were can I axcess the EC price movements? i just need the High and Low for each haf hour.
Getting it real-time will be a challenge, but you may find it delayed in places. Maybe the exchange?
__________________
John Forman, PhD
Author - Trading FAQs, The Essentials of Trading
Rhody Trader is offline Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Dec 23, 2010, 1:23am   #18
Joined Dec 2010
Re: Market Profile initial balance

Quote:
Originally Posted by Rhody Trader View Post
Obviously, you're only talking TPOs when dealing with spot forex - no volume.
yes just TPOs study.. only with price movement, I know that volume is propably much more important, but i simply still don't get it at the moment. And also i guess would be even much more difficult to have free data about it.

sorry my ignorance, but what exactly do you mean with exchange?
sergio83 is offline   Reply With Quote
Old Dec 23, 2010, 2:42pm   #19
Joined Dec 2004
Re: Market Profile initial balance

The CME.
__________________
John Forman, PhD
Author - Trading FAQs, The Essentials of Trading
Rhody Trader is offline Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Dec 27, 2010, 2:03am   #20
Joined Dec 2010
Re: Market Profile initial balance

If anyone wants to share my worksheet for market profile charting tool just send me a private message

In the end I'm using it with the forex spot, anyway i don't use volumes, just TPOs.

here are few printscreen from the last week as example:

Click the image to open in full size.

Click the image to open in full size.

I think can be a nice tool for a beginner to start with the MP.

For the whole day profile I have been using the asian session as Initial Balance.
Instead for the western session day profile I've used the first hour of the London session.
sergio83 is offline   Reply With Quote
Old Dec 27, 2010, 10:20am   #21
Joined Nov 2001
Re: Market Profile initial balance

Thanks for that. It showed me something that I had not noted before. I trade Footsie and when I studied MP it was trending. Yours, however is a sideways trend and I can see the usefullness of your analysis because there are excellent, very profitable moves to be had from one extreme to the other.

Do those varying patterns show you which way the next up/down trend will be? That was my difficulty and the reason that I reverted to conventional charts.
Splitlink is offline   Reply With Quote
Old Dec 27, 2010, 10:55am   #22
Joined Dec 2010
Re: Market Profile initial balance

Quote:
Originally Posted by Splitlink View Post
Do those varying patterns show you which way the next up/down trend will be? That was my difficulty and the reason that I reverted to conventional charts.
Yes I see your point, MP seems easy if the market is not trending, but how to understand from it when the market will start to trend?

Well in the MP books, they speak about how to dissect the day profile and try to underline the moves that come from the long-term traders... you can then have clues on where the market is trying to go, with single prints tails, extremes, responsive and initiating activity analysis and Market Internal Time Clock.
But is important to say that MP doesn't pretend to give an if/then statement, all or none, it just organize the data for you in a better way andallow you to see throught the market in a better way. But then should be our intuition to lead to the right forecast for a new trend. The market is a living breathing organism, and the MP shows you is mood in a clearer way.
I guess also that having acces to volumes and using them in the market profile can make the market much more transparent.

To be honest I'm a beginner in the market profile as in the forex... so I was sharing my worksheet for have some help in using the MP in the correct way back.

Discussion on the patterns would be the best.
For istance (about my previous pictures):
In the week profile I can see a nice bell curve, but the TPOs count says that we have more TPOs above the POC. That should lead to a lower price in the following time.
I can also see from the other day patterns that when there's the american session (the capital letter) the price always moved lower.
As a complete rookie i would say the price is probably to go down next week.
Who can tell me where are the mistakes in my analysis or what important thing I didn't consider?

Last edited by sergio83; Dec 27, 2010 at 11:29am.
sergio83 is offline   Reply With Quote
Old Dec 27, 2010, 11:29am   #23
Joined Nov 2001
Re: Market Profile initial balance

Quote:
Originally Posted by sergio83 View Post
Yes I see your point, MP seems easy if the market is not trending, but how to understand from it when the market will start to trend?

Well in the MP books, they speak about how to dissect the day profile and try to underline the moves that come from the long-term traders... you can then have clues on how the market is trying to go, with single prints tails, extremes, responsive and initiating activity analysis and Market Internal Time Clock.
But is important to say that MP doesn't pretend to give an if/then statement, all or none, it just organize the data for you in a better way andallow you to see throught the market in a better way. But then should be our intuition to lead to the right forecast for a new trend. The market is a living breathing organism, and the MP shows you is mood in a clearer way.
I guess also that having acces to volumes and using them in the market profile can make the market much more transparent.

To be honest I'm a beginner in the market profile as in the forex... so I was sharing my worksheet for have some help in using the MP in the correct way back.

Discussion on the patterns would be the best.
For istance:

In the week profile I can see a nice bell curve, but the TPOs count says that we have more TPOs above the POC, that should lead to a lower price in the following time.
I can also see from the other day patterns that when there's the american session (the capital letter) the price always moved lower.
As a complete rookie i would say the price is probably to go down next week.
Who can tell me where are the mistakes in my analysis or what important thing I didn't considered in it?
I'm the same. As you can see, this was in Feb. It will show you how my uptrend showed on MP. I could not obtain any new benefit from it, so I dropped the idea.

One other point is that, unless you suscribe to specialist software, you will have to do this by yourself. I can do FT, it is not difficult, but more than that is time consuming. If you are doing 4 pairs of Forex you going to have your time cut out and it is questionable whether you would last.
Attached Files
File Type: xls MP FEB 15 to 19 2010.xls (34.5 KB, 159 views)

Last edited by Splitlink; Dec 27, 2010 at 11:36am.
Splitlink is offline   Reply With Quote
Old Dec 27, 2010, 11:44am   #24
Joined Dec 2010
Re: Market Profile initial balance

Quote:
Originally Posted by Splitlink View Post
I'm the same. As you can see, this was in Feb. It will show you how my uptrend showed on MP. I could not obtain any new benefit from it, so I dropped the idea.
I see.
Is not easy I know, and probably I will give up too, but is not that with normal chart you have more information, at the moment MP seems to give me more information and insipiration in understanding the market.

Anyway in your analysis there's no any Value Area or Point of Controll, like that is like never have done MP analysis.

Can I ask you what contract where you trading in this chart?

Quote:
Originally Posted by Splitlink View Post
One other point is that, unless you suscribe to specialist software, you will have to do this by yourself. I can do FT, it is not difficult, but more than that is time consuming. If you are doing 4 pairs of Forex you going to have your time cut out and it is questionable whether you would last.
Maybe you didn't understand that my worksheet is completly automatic, you just have to copy and paste from MT4 History Center the Highs and Lows for every day and then all the histograms are automatically calculated with Iinitial Balance, POC, Value Area, TPOs Count.

If you want i can send the file to you in private. I need someone with who I can discuss if the Initial Balance i considered can be fair, or stuff like that.
sergio83 is offline   Reply With Quote
Old Dec 27, 2010, 11:57am   #25
Joined Nov 2001
Re: Market Profile initial balance

Quote:
Originally Posted by sergio83 View Post
I see.
Is not easy I know, and probably I will give up too, but is not that with normal chart you have more information, at the moment MP seems to give me more information and insipiration in understanding the market.

Anyway in your analysis there's no any Value Area or Point of Controll, like that is like never have done MP analysis.

Can I ask you what contract where you trading in this chart?



Maybe you didn't understand that my worksheet is completly automatic, you just have to copy and paste from MT4 History Center the Highs and Lows for every day and then all the histograms are automatically calculated with Iinitial Balance, POC, Value Area, TPOs Count.

If you want i can send the file to you in private. I need someone with who I can discuss if the Initial Balance i considered can be fair, or stuff like that.
I hope that you find someone with the same degree of enthusiasm as you have. I am older, now, and lack the will that I had for this type of analysis. I think that I will pass on your offer, thanks all the same.
Splitlink is offline   Reply With Quote
Old Dec 27, 2010, 12:02pm   #26
Joined Dec 2010
Re: Market Profile initial balance

Quote:
Originally Posted by Splitlink View Post
I hope that you find someone with the same degree of enthusiasm as you have.
eheh, yes probably i'll lose it very quickly, thanks anyway
sergio83 is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Market Profile benwhodafunk Technical Analysis 3 Feb 24, 2006 7:54pm
Market Profile Hulk Spread Betting & CFDs 1 Aug 2, 2005 9:05am
market profile jimmy1 Trading Software 0 Feb 13, 2005 8:49pm
market profile n33dmoney Educational Resources 1 Dec 3, 2004 3:14pm
Market Profile (Auction Market Theory) Chart Tubbs Indices 16 Dec 19, 2003 3:15pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)