Attachments: Auction Market Theory and Market Profile

Auction Market Theory and Market Profile

#1,661
Apr 6, 2011 10:16am Apr 6, 2011 10:16am

tgwhbb
| Joined May 2010 | Status: Day by Day | 1,004 Posts

Quoting mzvega

Disliked

Thats great. Im all ass backwards today. I need to regroup.

Ignored

for what it's worth, i've found stepping away from the charts for a while after a string of trades that didn't work out helps.

Change is the only constant

#1,662
Apr 6, 2011 10:19am Apr 6, 2011 10:19am

mzvega
Joined May 2009 | Status: Trader | 1,879 Posts

Quoting tgwhbb

Disliked

closed at 4340, price seems to be stalling...+112 for the day...that may be it for me today...

Ignored

Im short @ 1.43401 my last trade for the session.

Markets are not efficient, rather they are effective - Jones

#1,663
Apr 6, 2011 10:38am Apr 6, 2011 10:38am

mzvega
Joined May 2009 | Status: Trader | 1,879 Posts

Quoting tgwhbb

Disliked

for what it's worth, i've found stepping away from the charts for a while after a string of trades that didn't work out helps.

Ignored

That is Good advice!

Markets are not efficient, rather they are effective - Jones

#1,664
Apr 6, 2011 12:27pm Apr 6, 2011 12:27pm

ivonivon
| Joined Aug 2006 | Status: Trader | 203 Posts

Quoting bandung

Disliked

now I chickened out at yesterday VAH... to hold or not to hold...
... TO BE first of course

Ignored

Hai Bandung, how do you set the MP to limit the data based on ny / tokyo opening and closing?

thanks

#1,665
Apr 6, 2011 1:46pm Apr 6, 2011 1:46pm

mzvega
Joined May 2009 | Status: Trader | 1,879 Posts

Quoting bandung

Disliked

I got nice entry on test of Asia VAH at london open...

adding at test of today DVAL

Ignored

Yes, I too would be very interested. That would be very useful for my style of trading.

Markets are not efficient, rather they are effective - Jones

#1,666
Apr 6, 2011 4:07pm Apr 6, 2011 4:07pm

Trader4567
| Joined Aug 2010 | Status: Trader | 62 Posts

Hi All

Thanks for this great thread, I am avidly studying Mind Over Markets and will hopefully be making a meaningful contribution soon. However, I am having problems getting the MP indicator to work. I have enabled dll and downloaded the microsoft extention, but when I drag the indicator over a 30min chart, nothing happens. I am new to MT4 as i normally trade off FXCM marketscope, but downloaded MT4 especially to use this indicator (ay-MP text v1.02), so maybe I am making some noobie mistake!!

Any help will be greatly appreciated

Many thanks

#1,667
Edited 7:25pm Apr 6, 2011 5:16pm | Edited 7:25pm

Kang_Gun
Joined Aug 2007 | Status: I'm a Lemurians | 1,432 Posts

It's not use fully MP, i use MP just to see how is price distributed on those levels.
And here a little brief about Mode or POC in MP term http://www.btinternet.com/~se16/hgb/median.htm

KG

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#1,668
Edited 5:51pm Apr 6, 2011 5:43pm | Edited 5:51pm

mzvega
Joined May 2009 | Status: Trader | 1,879 Posts

Quoting Trader4567

Disliked

Hi All

Thanks for this great thread, I am avidly studying Mind Over Markets and will hopefully be making a meaningful contribution soon. However, I am having problems getting the MP indicator to work. I have enabled dll and downloaded the microsoft extention, but when I drag the indicator over a 30min chart, nothing happens. I am new to MT4 as i normally trade off FXCM marketscope, but downloaded MT4 especially to use this indicator (ay-MP text v1.02), so maybe I am making some noobie mistake!!

Any help will be greatly appreciated

Many thanks...

Ignored

Are the correct files in the correct folders?

ay-MT4MPLibL.dll belong to YOURMT4FOLDERexpertslibraries
ay-object.func.mqh belong to YOURMT4FOLDERexpertsinclude
ay-MP-text.mq4 belong to to YOURMT4FOLDERexpertsindicators

Refer to Bandungs post#1085. However, he updated one of them. you need to further read the thread. Its there somewhere

Markets are not efficient, rather they are effective - Jones

#1,669
Edited 7:48pm Apr 6, 2011 7:37pm | Edited 7:48pm

Kang_Gun
Joined Aug 2007 | Status: I'm a Lemurians | 1,432 Posts

So, base on http://www.forexfactory.com/showpost...postcount=1667 and M30 using daily MP on pict below, is it enough reason to open buy around yesterday VAH (1.4297), 1.4303 and 1.4293 ???

it's up to us right?
the important thing is we have a good reasons etc to do this or that.. or we know the 'context' as mzvega mention before...

Good luck and GBU all,

KG

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#1,670
Edited 8:08pm Apr 6, 2011 8:04pm | Edited 8:08pm

alexm
| Joined Jun 2009 | Status: Trader | 261 Posts

According to mzvega MP trade set up post here

I think this set up was meant for stock trading, but let see how price react to yesterday VAL at 1.4274

My short term up target still on weekly DIBH 1.4386

Extract from the PDF article
-------------------------------
Trade setup #2b: In an up trending market, when the current session opens within the previous days VA enter a long
trade at the lower VA placing a stop 1.5 points below the DBY’s (day before yesterday) POC/HVL (the open price must be at least 2 points above
the previous days lower VA)

#1,671
Edited 8:53pm Apr 6, 2011 8:33pm | Edited 8:53pm

mzvega
Joined May 2009 | Status: Trader | 1,879 Posts

Quoting alexm

Disliked

According to mzvega MP trade set up post here

I think this set up was meant for stock trading, but let see how price react to yesterday VAL at 1.4274

My short term up target still on weekly DIBH 1.4386

Extract from the PDF article
-------------------------------
Trade setup #2b: In an up trending market, when the current session opens within the previous days VA enter a long
trade at the lower VA placing a stop 1.5 points below the DBY’s (day before yesterday)...

Ignored

I dont use those set ups for trade entries. I use those areas as a point of reference. I may or may not, but I chose my position and form a bias in those areas. I dont use their sl rules either, but if your stop is on the "otherside of value" chances your sl of being hit are pretty slim. I also figure in reverse, because there is someone else who will see it different. I also do it for weekly, Monthly, etc. and look for any confluence. Those set ups are not "end all be all". Its more about what others might do in those areas.

For Daily:

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Markets are not efficient, rather they are effective - Jones

#1,672
Apr 6, 2011 8:45pm Apr 6, 2011 8:45pm

mzvega
Joined May 2009 | Status: Trader | 1,879 Posts

Quoting mzvega

Disliked

I dont use those set ups for trade entries. I use those areas as a point of reference. I may or may not, but I chose my position and form a bias in those areas. I dont use their sl rules either, but if your stop is on the "otherside of value" chances your sl of being hit are pretty slim. I also figure in reverse, because there is someone else who will see it different. I also do it for weekly, Monthly, etc. and look for any confluence. Those set ups are not "end all be all". Its more about what others might do in those areas.

For Daily:...

Ignored

Market Profile in no way should be used as a "Buy & Sell" type system or indicator. Its a way to "Read" other peoples opinions, and perception of value. MP set ups are usless if taken as a buy or sell signals. Just beware, form an opinion when market gets there. Its not a place to jump in. imo

Markets are not efficient, rather they are effective - Jones

#1,673
Apr 6, 2011 8:51pm Apr 6, 2011 8:51pm

Kang_Gun
Joined Aug 2007 | Status: I'm a Lemurians | 1,432 Posts

Quoting mzvega

Disliked

Market Profile in no way should be used as a "Buy & Sell" type system or indicator. Its a way to "Read" other peoples opinions, and perception of value. MP set ups are usless if taken as a buy or sell signals. Just beware, form an opinion when market gets there. Its not a place to jump in. imo

Ignored

100% agree with you mam...

KG

#1,674
Apr 6, 2011 9:20pm Apr 6, 2011 9:20pm

kristal87
| Joined Mar 2011 | Status: Trader | 24 Posts

Quoting Kang_Gun

Disliked

So, base on http://www.forexfactory.com/showpost...postcount=1667 and M30 using daily MP on pict below, is it enough reason to open buy around yesterday VAH (1.4297), 1.4303 and 1.4293 ???

it's up to us right?
the important thing is we have a good reasons etc to do this or that.. or we know the 'context' as mzvega mention before...

Good luck and GBU all,

KG

Ignored

kereenn like usual..
thanks.. kang muacch...

i am proud to be KGers..!!!

#1,675
Apr 6, 2011 9:35pm Apr 6, 2011 9:35pm

Bilstein
Joined Mar 2010 | Status: Moved to futures | 477 Posts

Bandung; for the life of me I can't figure out how you can draw an IB on the mptext. Would you mind sending me some code?

#1,676
Apr 6, 2011 9:40pm Apr 6, 2011 9:40pm

alexm
| Joined Jun 2009 | Status: Trader | 261 Posts

Quoting mzvega

Disliked

Market Profile in no way should be used as a "Buy & Sell" type system or indicator. Its a way to "Read" other peoples opinions, and perception of value. MP set ups are usless if taken as a buy or sell signals. Just beware, form an opinion when market gets there. Its not a place to jump in. imo

Ignored

Hi vega,

Yes I agree 100% those rule is mean for reference.

My usual approach is when price did hit at those level I will check on volume using VSA, (especially on selling climax, follow with no supply, to keep stop loss reasonable) to confirm jump in or not, usually on 5 min chart. When price did hit VAH or DIBH I will use the same method for exit too.

#1,677
Apr 6, 2011 9:44pm Apr 6, 2011 9:44pm

mzvega
Joined May 2009 | Status: Trader | 1,879 Posts

Quoting Bilstein

Disliked

Bandung; for the life of me I can't figure out how you can draw an IB on the mptext. Would you mind sending me some code?

Ignored

Try looking at this. I used this indi. before. Its tempermental, if your unfamiliar. It has default is 1hr IB or you determine the lenghth by haw many bars back. The blue vertical measures the IB the red the va.

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Attached File(s)

R-MarketProfile.mq4 28 KB | 1,859 downloads

Markets are not efficient, rather they are effective - Jones

#1,678
Apr 6, 2011 9:48pm Apr 6, 2011 9:48pm

mzvega
Joined May 2009 | Status: Trader | 1,879 Posts

Quoting alexm

Disliked

Hi vega,

Yes I agree 100% those rule is mean for reference.

My usual approach is when price did hit at those level I will check on volume using VSA, (especially on selling climax, follow with no supply, to keep stop loss reasonable) to confirm jump in or not, usually on 5 min chart. When price did hit VAH or DIBH I will use the same method for exit too.

Ignored

You're very right, VSA is a great way to confirm PA

Markets are not efficient, rather they are effective - Jones