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MP - S&P Jan 24th




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quote:
Originally posted by BruceM

Thanks for all this Elite trader..for some reason I didn't see these replies..I appreciate it. And you too Alley B..Anyone start reading Daltons New Book?

Bruce
quote:
Originally posted by elite trader

From what I understand of Steidlmayer's book you start when the market breaks from the congestion zone. The you keep on adding up brackets until it breaks again and then you start a new area.



Dalton's Book Markets in Profile:

Markets in Profile : Profiting from the Auction Process by James F. Dalton, Robert B. Dalton, Eric T. Jones

[edit by Admin: link fix]
I just finished reading it and was very disappointed. How do you follow up something Like "Mind over markets"...?? I'm not sure I learned anything new about MP from it. Some good quotes though.....
quote:
Originally posted by alleyb

Dalton's Book Markets in Profile:

Markets in Profile : Profiting from the Auction Process by James F. Dalton, Robert B. Dalton, Eric T. Jones

[edit by Admin: link fix]

What are the major changes?
I didn't notice any changes. They go a bit into longer term profile stuff but it was still a bit subjective. There are typos and mislabeled charts too so the editing seemed a bit rushed. They talked about the "b" and "p" patterns but nothing really new if you've been around the internet MP stuff. I liked some of the concepts such as trying to fiqure out if Price was going to revert back to value or if value was going to go up or go lower and follow price. It's on fairly small pages so it became annoying having to flip back and forth from the text to the sample charts. That's my two cents worth.

I was wondering where the concept of trying to sell the Developing VA high after range extension down ( and the reverse) came from as I don't recall it in Mind Over Markets? For that matter selling two times the IB or the reverse...Is that in a book too??Is there a book that goes into these types of concepts or is this something that has been handed down from educators on the internet...? any help would be appreciated

Bruce

Bruce
quote:
Originally posted by day trading

What are the major changes?

quote:
Originally posted by BruceM

I was wondering where the concept of trying to sell the Developing VA high after range extension down ( and the reverse) came from as I don't recall it in Mind Over Markets? For that matter selling two times the IB or the reverse...Is that in a book too?Is there a book that goes into these types of concepts or is this something that has been handed down from educators on the internet...? any help would be appreciated

If I've understood you correctly you are saying that those concepts are NOT mentioned in the book?

The DVA trade after RE is something that I have noticed and traded a few times but I have never back tested for best stop sizes or targets. Of all the ways to use Market Profile I think that it is the most powerful setup in isolation. I don't recall anybody telling me about it (although I could be mistaken) and so I think that I came up with it myself but many others could have come up with the same trade idea. It became fairly obvious when I watched a chart that plotted the DVA across the day. Until you see the DVA being plotted across the day it's not an obvious trade.
Hi Guy,

I have seen this setup described in various chat rooms etc for the past 4 years or so and was interested in it's origins. Perhaps it was you who got it going but I thought perhaps Steidlmeyer ( pardon the spelling) may have written about it in one of his books but haven't read any of his. I also noticed that selling 150% and 200% of the initial IB breakout of the highs is a popular trade going around right now ( reverse for Range extension down), so much that my Investor R/T software calculates this automatically for you. Anyway I was just curious if there was a book floating around that describes these. Congrats if you where the one who got it all started. Perhaps the folks at TradingMarkets aren't the only ones stealing your ideas...Bruce
quote:
Originally posted by day trading

quote:
Originally posted by BruceM

I was wondering where the concept of trying to sell the Developing VA high after range extension down ( and the reverse) came from as I don't recall it in Mind Over Markets? For that matter selling two times the IB or the reverse...Is that in a book too?Is there a book that goes into these types of concepts or is this something that has been handed down from educators on the internet...? any help would be appreciated

If I've understood you correctly you are saying that those concepts are NOT mentioned in the book?

The DVA trade after RE is something that I have noticed and traded a few times but I have never back tested for best stop sizes or targets. Of all the ways to use Market Profile I think that it is the most powerful setup in isolation. I don't recall anybody telling me about it (although I could be mistaken) and so I think that I came up with it myself but many others could have come up with the same trade idea. It became fairly obvious when I watched a chart that plotted the DVA across the day. Until you see the DVA being plotted across the day it's not an obvious trade.

I doubt that it was me that invented it. I think that like a lot of traders you/I come up with an idea/indicator and after you've described it to another trader they say "yeah that's called a ________ " and then you discover that it's been in use for 50+ years