Anyone know anything about Balancetrader?

[sparktrade]

Charting package for MP

Hi Joey,

thanks for your reply, do you trade spot FOREX using MP, if so, which charting/software platform do you use or would you recommend?

Spark

I've got the basic membership which doesn't include access to the room. However, the materials which this gives you access to are certainly impressive.

If the markets you wish to trade go through clear phases of consolidation / breakout / balance, then in my opinion his material will certainly help you.

You will probably struggle to use volume analysis with spot fx (I guess), but many traders find that the time-at-price and pattern recognition stuff works better anyway.

With MP I'd recommend taking the Value Area with a pinch of salt. The theory is only watertight if you have a normal distribution, and even then what's so special about +/- 1 standard deviation?

Going back to Frank's site, it has encouraged me to trade breakouts now, and also go for bigger winners, something I never really did when I had a journal running. He runs a free blog here:My.WallSt.net - Blogs

Hope this helps,
Joey

 

[Joey25]

Hi Joey,

thanks for your reply, do you trade spot FOREX using MP, if so, which charting/software platform do you use or would you recommend?

Spark

I'm sorry Spark,

I don't trade spot FOREX and I also don't use any MP software. I trade the e-mini S&P where the data is available for free download from the CME.

I split off the overnight session from the pit session in Excel and identify the critical areas such as the tails, single prints, high/low volume areas myself. After doing this time after time, you can spot these things as they develop just by looking at a 30-minute chart.

If I ever decide to trade spot FX I think the way I would approach it would be to use a method such as Phil Newton's at first, where he lays out his rules in a very clear and precise way, and use this time as a time to get familiar with that particular market.

I wouldn't jump straight in with market profile. Post no.16 on this thread by Nine is pretty spot on.

Cheers,
Joey

 

[sparktrade]

approach to FOREX

Thanks Joey for your advice, I will check out Phil Newton

Spark

I'm sorry Spark,

I don't trade spot FOREX and I also don't use any MP software. I trade the e-mini S&P where the data is available for free download from the CME.

I split off the overnight session from the pit session in Excel and identify the critical areas such as the tails, single prints, high/low volume areas myself. After doing this time after time, you can spot these things as they develop just by looking at a 30-minute chart.

If I ever decide to trade spot FX I think the way I would approach it would be to use a method such as Phil Newton's at first, where he lays out his rules in a very clear and precise way, and use this time as a time to get familiar with that particular market.

I wouldn't jump straight in with market profile. Post no.16 on this thread by Nine is pretty spot on.

Cheers,
Joey

 

[pgklassner]

pgklassner

It appears to me as though balancetrader is no longer in operation.
He will accept money through paypal but there are no responces to emails
BE CAREFULL

 

[zman7854]

It appears to me as though balancetrader is no longer in operation.
He will accept money through paypal but there are no responces to emails
BE CAREFULL

Any confirmation on this statement?

 

[jerry828]

@zman

BT is still up & running. I visited the BT chat room two days ago.

 

[CRF]

Does Balance Trader still offer a chat room?