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 Rhody Trader In an exchanged-traded market like futures (which is where MP was originated) "first two official ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Dec 22, 2010, 12:55am   #11
Joined Dec 2010
Re: Market Profile initial balance

Quote:
Originally Posted by Rhody Trader View Post
In an exchanged-traded market like futures (which is where MP was originated) "first two official regular exchange session periods" means the first two half-hour periods after the market opens.
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.
sergio83 is offline   Reply With Quote
Old Dec 22, 2010, 3:24am   #12
 
DionysusToast's Avatar
Joined Dec 2009
Re: Market Profile initial balance

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

He has an interesting take on profiling
__________________
Yes - this IS a protest!
DionysusToast is offline Software vendor   Reply With Quote
Old Dec 22, 2010, 1:56pm   #13
Joined Dec 2004
Re: Market Profile initial balance

Quote:
Originally Posted by sergio83 View Post
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?
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.
__________________
John Forman
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 22, 2010, 2:31pm   #14
Joined Dec 2010
Re: Market Profile initial balance

Quote:
Originally Posted by Rhody Trader View Post
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.
sergio83 is offline   Reply With Quote
Old Dec 22, 2010, 2:38pm   #15
 
DionysusToast's Avatar
Joined Dec 2009
Re: Market Profile initial balance

Sergio - you looking for free info or you want this stuff on a platform ?
__________________
Yes - this IS a protest!
DionysusToast is offline Software vendor   Reply With Quote
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
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
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
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 10:05am
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)