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Auction Market Theory and Market Profile

  • #2,281
  • May 2, 2011 3:24am May 2, 2011 3:24am
Great words Vega! Fully agree with you. My concentration is tracking the other timeframe/smart money and following them.

Would be great to know the outcomes with the 4H IB.



Quoting mzvega
[color=black][font=Verdana]I like that statement. I heard someone describe MP as a “3-dimentional chess game”. I believe that. A lot people forget that “Price over Time = value”. The time aspect is often forgotten, or ignored. MP start times are a matter of preference. There are MP “purists” who only trade by the book. I find that somewhat difficult, because a lot of material in the original books weren’t Forex related. They traded a different market than we do in forex. Most profiles are based on a 8hr markets (in most reading material). For example...
  • #2,282
  • May 2, 2011 3:26am May 2, 2011 3:26am
Quoting AlienTrader
sure Bl888,

Attachment
Attachment
Hi!
I can not put indicator in mt4?? I can see it in custom indicator list but it can't been seen on chart, what am I doing wrong?? Please help!
  • #2,283
  • May 2, 2011 3:26am May 2, 2011 3:26am
Did anyone of you consider of using MarketDelta? I'm thinking of it, with an Esignal feed. What is your opinion?

Best,
Ox
  • #2,284
  • May 2, 2011 3:28am May 2, 2011 3:28am
Hi Pilatus,
Please go back to recent Bandung posts, you'll find a description where to put all the files (indicators, libraries, etc.). Also don't forget to all dll usage in MT4.

Ox

Quoting pilatus
Hi!
I can not put indicator in mt4?? I can see it in custom indicator list but it can't been seen on chart, what an I doing wrong?? Please help!
  • #2,285
  • May 2, 2011 4:39am May 2, 2011 4:39am
hi mzvega,

funny that I have also sometimes described to others that trading forex is like a 3d chess game, but I have also added while playing in the dark on a roller-coaster & the rules keep changing. Granted that is how it feels sometimes when trying to day-trade with large lots & all goes wrong or I survive just by the skin of my teeth. Yet feels so simple & effortless when all goes to plan & is over quickly.

In a past life I was involved in 3d graphics & animation & have often dreamt of software that could visualize the chart data into 3d, to explore if that would help gauge sentiment better for the way some peoples brains are wired. But concluded that it is probably just another path in search of answers that don't exist. And instead just focus on the here & now, the moment. I only have control over proper MM & to choose to buy, sell or pass & nothing else (market wizards).

I have tried Tgwhbb’s IB indi but fail to see the benefit for the clarity I seek. But like all the other posters who code am very grateful for their time & work.

"I stopped trading “My” perception of value and started basing my trading on “other people’s” perception of value." - I like & understand the logic but keep coming back to this: I can only control/alter my perception & want to align/shape/retrain to better see market sentiment. My perception is based on trying to read market sentiment which is other people's perception.
I think we are heading in the same direction via a different path.

Personaly I don't care for 24hrs to be broken into 3 8hr sessions, I understand the logic but have found it too distracting & visually too noisy. Having a new profile end & start during my session makes more sense to me. All I need to focus on is the end of one & the start of the new. Higher/lower/ranging, false break or breakout.

Having the same tools & settings as the "big boys" is not nearly enough. Tapping in & trying to understand their perspective is more beneficial, but remember that they are not one entity but many many different individuals with ever-changing variables & criteria. So I come back to basics & just focus on my perception- do I buy, sell or pass.

Each to his/her own, the only thing that really matters is if the bottom line is protected & increased over time.

To me the attraction of TPO is the clarity I seek from the data. To be able to try it out to see if it works for me (my perception) on MT4 is so ab fab. There are so many platforms who specialize in AMP but require dosh, commitment & change in Data & broker which is a lot to do just to see if it works for me. Trial periods are too short & without hard cash on the line.

Without bandung's work I would not have gone down this new & exciting path.

I read & value everyones posts, but I sometimes get the feeling of "overcomplicating things" syndrome creeping in, which is probably a very natural way to compensate for not having certainty. In the same way people jump from system to system. We all are searching, all trying to better ourselves & improve. All at different stages/levels & its great to share different views.

alientrader
  • #2,286
  • May 2, 2011 4:47am May 2, 2011 4:47am
Quoting pilatus
Hi!
I can not put indicator in mt4?? I can see it in custom indicator list but it can't been seen on chart, what am I doing wrong?? Please help!
pilatus,

Oxford is right, it is just a very minor (visual) mod of bandung's indi that was asked for. I assumed the right additional files were in the include & libraries folder. The indi is totally not mine. Refer the author bandung's posts.
  • #2,287
  • May 2, 2011 5:32am May 2, 2011 5:32am
[quote=Oxford;4584863]Some notes on Todays Profile for EURUSD:

- Selling Tail
- Open outside yesterdays value area
- Open Test drive
- As of now, TPO Count favours shorts

What do you think?


Hi Ox,

a different view. The tail you mention is not clear of range, it is within the previous 2 days . Open outside of yesterdays value, but does not if you have a different day start. Mine shows open above previous VA. No open test drive from my view. TPO count, have you gone over past days?

Does it really give you an edge?

Relativity - overall market direction in the future, or market in the very short term - enough to get in & out with your PT hit before your stop?

OK I will stop , I just wanted to share that people should play around with views a bit, even if that means they come back & settle to the default/standard/textbook view. Hell I am open to doing just that if it works, but for now I will chug along on a path that after putting the 2 side by side, feel I can make better sense of sentiment from another view.

So you will understand why my future charts will look a bit different

ah the beauty of trading, comes back to what is relevant from each is own perspective.

have a great day, I'm off

alientrader
  • #2,288
  • May 2, 2011 5:41am May 2, 2011 5:41am
Thanks a lot for your comments, I really appreciate and am very happy to learn every day. My day starts with GMT. Will post later a picture.

[quote=AlienTrader;4585152]
Quoting Oxford
Some notes on Todays Profile for EURUSD:

- Selling Tail
- Open outside yesterdays value area
- Open Test drive
- As of now, TPO Count favours shorts

What do you think?


Hi Ox,

a different view. The tail you mention is not clear of range, it is within the previous 2 days . Open outside of yesterdays value, but does not if you have a different day start. Mine shows open above previous VA. No open test drive from my view. TPO count, have you gone over past days?

Does it really give you an edge?

Relativity...
  • #2,289
  • May 2, 2011 6:58am May 2, 2011 6:58am
here the chart.

[quote=Oxford;4585166]Thanks a lot for your comments, I really appreciate and am very happy to learn every day. My day starts with GMT. Will post later a picture.

Attached Image (click to enlarge)
Click to Enlarge Name: 38.gif Size: 26 KB
  • #2,290
  • May 2, 2011 8:47am May 2, 2011 8:47am
for this first time in week's, i'm short EU around NY IBH - 1.4846. There are a few anomalies in todya's profile which i think will need to be smoothed out. I would like to see price hang around the 1.48 level later today to build more value there and bring the POC back down to that level to confirm my theory of a retrace to 1.4650. If price does not hang around there i will exit my short and re-evaluate.

5M chart with entry marked. Upthrust into previous supply, confirmed with next bar down (and on higher volume), follwed by no demand bar.
Attached Image (click to enlarge)
Click to Enlarge Name: EU M5 2011-05-02 at 9.44.35 AM.png Size: 60 KB
Change is the only constant
  • #2,291
  • May 2, 2011 8:52am May 2, 2011 8:52am
Quoting tgwhbb
for this first time in week's, i'm short EU around NY IBH - 1.4846....
um, well, that is quite the reversal on the 5M...out of short at -1. just watching for now...
Change is the only constant
  • #2,292
  • May 2, 2011 9:43am May 2, 2011 9:43am
I've doing the same the whole morning session with no success. It's bullish. Maybe I'm still doing many errors in interpreting MP.

Quoting tgwhbb
um, well, that is quite the reversal on the 5M...out of short at -1. just watching for now...
  • #2,293
  • May 2, 2011 10:09am May 2, 2011 10:09am
Quoting Oxford
I've doing the same the whole morning session with no success. It's bullish. Maybe I'm still doing many errors in interpreting MP.
I can't say for certain but don't beat yourself up to much you are probably interpreting just fine. MP just gives you a framework it is not a law of the markets. Markets can do anything. There were valid short trades thats for sure. The Euro is not driving the markets today it is dollar weakness in yen and swissy who is driving. So the mp levels don't have such an important role today unless you have a wide stop. Those levels where good shorts were located will be revisited giving you a chance to scratch. Just try to assess the terrain and always confidence is the most important asset you can have trading.
  • #2,294
  • May 2, 2011 10:29am May 2, 2011 10:29am
Hey GW, thanks a lot for the good words! I really appreciate.

Quoting Guerrillawar
I can't say for certain but don't beat yourself up to much you are probably interpreting just fine. MP just gives you a framework it is not a law of the markets. Markets can do anything. There were valid short trades thats for sure. The Euro is not driving the markets today it is dollar weakness in yen and swissy who is driving. So the mp levels don't have such an important role today unless you have a wide stop. Those levels where good shorts were located will be revisited giving you a chance to scratch. Just try to assess the terrain and always...
  • #2,295
  • May 2, 2011 10:34am May 2, 2011 10:34am
Quoting AlienTrader
hi mzvega,

I read & value everyones posts, but I sometimes get the feeling of "overcomplicating things" syndrome creeping in, which is probably a very natural way to compensate for not having certainty. In the same way people jump from system to system. We all are searching, all trying to better ourselves & improve. All at different stages/levels & its great to share different views.

alientrader
My dividing the sessions aren’t what you would call text book strategies per se. Even though it was a 3hr MP103 video that described these “measured moves”. I guess you would call it “using market generated info”. It’s just a way of gauging commercial activity. A commercial is limited in its buying & selling. There are many was to use this info. Determining day type, early identification is important. A normal var day usually extends 2x IB reverses and goes 1x out the other side. 2x + 1x=3x, a trend day usually drives all the way to 3x IB, then price stalls. IMO knowing how much of IB range ex for the session is being used gives me an idea where and when the commercial might step on or off board for the session. More than likely he (comm.) will be staring his profile at his sessions open. If I know the extent of the IB range, I know what day type he thinks the day will be from his perspective and from the time his profile starts to build. Also, take in consideration OTF who is looking at the complete 24h profile. 2 very different perspectives of the profile. OTF will enter based on a different view of the profile. I don’t mean to complicate or confuse people. I just take it for granted that others have read the Basic MP literature and just understand how or why I use the info in different ways. Again, it’s a matter of preference. I’m just as interested in how others here are using “market generated info” in different ways. It’s also good to know how and understand what the general “herd” is looking and how they may react to using the profile. I appreciate your input and ideas, please keep them coming. By no means do I mean to complicate or confuse.
Markets are not efficient, rather they are effective - Jones
  • #2,296
  • May 2, 2011 10:36am May 2, 2011 10:36am
Quoting Guerrillawar
I can't say for certain but don't beat yourself up to much you are probably interpreting just fine. MP just gives you a framework it is not a law of the markets. Markets can do anything. There were valid short trades thats for sure. The Euro is not driving the markets today it is dollar weakness in yen and swissy who is driving. So the mp levels don't have such an important role today unless you have a wide stop. Those levels where good shorts were located will be revisited giving you a chance to scratch. Just try to assess the terrain and always...
Great advice, good perspective!
Markets are not efficient, rather they are effective - Jones
  • #2,297
  • May 2, 2011 10:42am May 2, 2011 10:42am
Quoting Oxford
I've doing the same the whole morning session with no success. It's bullish. Maybe I'm still doing many errors in interpreting MP.
for me EU only confirmed bullishness in "d" period, prior to that i still had bear bias. prior to NY open, developing POC was lower around 1.4795, and VA was overlapping lower, and EU stopped one-timeframing. However, during NY IB and shortly after POC moved up to current area as in picture - same POC as the last thurs/fri. I was short prior to the POC moving up there, but was cautious as I saw that level developing. For me, my bias only changed back to bull in d period when value started to build above the strong resistance that was built on thursday/friday.

i'm now looking for longs around 4860-70 if the PA agrees.
Attached Image (click to enlarge)
Click to Enlarge Name: EU TPO D 2011-05-02 at 11.34.15 AM.png Size: 134 KB
Change is the only constant
  • #2,298
  • May 2, 2011 11:03am May 2, 2011 11:03am
Quoting tgwhbb
for me EU only confirmed bullishness in "d" period, prior to that i still had bear bias....
Good luck with your longs. I'm personally cautious being long the euro today. I would suspect 1.4840 is in play. There was real dollar buying on the M15 gap in the yen and swissy.
  • #2,299
  • May 2, 2011 11:06am May 2, 2011 11:06am
Quoting tgwhbb
for me EU only confirmed bullishness in "d" period, prior to that i still had bear bias. prior to NY open, developing POC was lower around 1.4795, and VA was overlapping lower, and EU stopped one-timeframing. However, during NY IB and shortly after POC moved up to current area as in picture - same POC as the last thurs/fri. I was short prior to the POC moving up there, but was cautious as I saw that level developing. For me, my bias only changed back to bull in d period when value started to build above the strong resistance that was built on...
Whats your opinion on the NY IB #'s, below avg range, on below avg vol.? as Gw mentioned, Londons not driving today.I wouldnt think there could be much validity to that move. Markets can get volatile on low vol. trading. Any thoughts? I havent had time to post a chart but Im short @ 1.48607 &1.4875. Im looking for price to go to ny ibh or poc.
Markets are not efficient, rather they are effective - Jones
  • #2,300
  • May 2, 2011 11:28am May 2, 2011 11:28am
Not quite shure about longs atm. We are just end one-timeframing. As per VSA we had climax buying. On the other hand, looking at the weekly MP we had a rising POC, so unclear.

EDIT: further, todays POC has not moved much on the upside!

Quoting tgwhbb
for me EU only confirmed bullishness in "d" period, prior to that i still had bear bias....
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