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Auction Market Theory and Market Profile

  • #3,721
  • Nov 27, 2011 4:13am Nov 27, 2011 4:13am
Quoting s7c
what it takes to become a trader, from "mind over markets":
"People willing to undergo specialized training in how
to succeed. This program will require rigorous intellectual
schooling, intensive introspection geared toward identifying invisible
blocks to success that are trapped within you, and then
a long behavior-modification process necessary to overcome
these inner obstacles. At the same time, you will undergo a
daily on-the-job training program. Requirements for this training
program are as follows: intellectual ability, a meaningful
amount...
it's very true.
sc can you post TOS weekly profile? for comparison
here is mine,
last week poc and value still in the upper side of profile. maybe we can see tpos and value building below last week value to move down last week value/poc.

thanks
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  • #3,722
  • Nov 27, 2011 8:19am Nov 27, 2011 8:19am
Wow, Bandung. Care to share the equipment for that setup?
  • #3,723
  • Nov 27, 2011 9:44am Nov 27, 2011 9:44am
Quoting bandung
it's very true.
sc can you post TOS weekly profile? for comparison
here is mine,
last week poc and value still in the upper side of profile. maybe we can see tpos and value building below last week value to move down last week value/poc.

thanks
Bil, I pm'ed you.
...
  • #3,724
  • Nov 27, 2011 5:15pm Nov 27, 2011 5:15pm
Quoting mzvega
This is the very last time I do this.......... None of those indis will work
if you dont use the associated files that go with them.
Open program files, and open the folder to your trading platform, open the experts folder. Now place the downloaded files in the folders with the same name. If you already have a file with the same name, delete it and use the new one. That means, open the downloaded folder that says "include" take those files and place them in the "include" folder in the "experts" folder of your trading platform. Then
open...
A couple of points to add:
firstly Bangdang's TPOchart package from his blog has instructions

File location:
1. ay-mplib.const.mqh ==> YOURMT4FOLDERExpertsInclude
2. ay-object.func.mqh ==> YOURMT4FOLDERExpertsInclude
3. ay-mplib100.mq4 ==> YOURMT4FOLDERExpertsLibraries
4. ay-TPOChart.v1.02 ==> YOURMT4FOLDERExpertsIndicators
5. 7bit-onetick.mq4 ==> YOURMT4FOLDERExpertsScript

but ay-mplib.const.mqh,
ay-object.func.mqh are zipped in a folder called Includes
so they can't be directly unzipped under your MT4 experts folder.

You will also need to Consolas font installed.

That said, I've followed those instructions to the letter and while I can see the ay-MarketProfileDWM.v1.31 indicator on my charts, I can't see the letters for *any* of the TPO versions (the control panel is painted on my chart, just no TPO MP), so there may be a subtlety I have missed.

Anyone who has had trouble with the seeing the letters on TPO version and solved the issue know what I'm doing wrong?

cheers
f451
  • #3,725
  • Nov 27, 2011 5:43pm Nov 27, 2011 5:43pm
Quoting f451
...

Anyone who has had trouble with the seeing the letters on TPO version and solved the issue know what I'm doing wrong?

cheers
f451

...On page 223
The Market pays you to be disciplined
  • #3,726
  • Nov 27, 2011 6:38pm Nov 27, 2011 6:38pm
I say Steidlmayer would call BS on this statement. Dalton was a student of JPS and JPS work is more forward and easy to understand. Dalton took that work to only make it complex. Pick up JPS books for cheap and dont pay attn to the Dalton vids because they only touch on what is in the books. Good Luck.
  • #3,727
  • Nov 27, 2011 6:56pm Nov 27, 2011 6:56pm
I agree, for the most part. I watched James Dalton's videos and learned pretty much nothing from them. I genuinely feel bad for people who paid thousands of dollars for that when Mind Over Markets and Markets in Profile do the job just fine. The method works however it fails for those who try and make the system mechanical - that's one thing JD said that rings true. AMT and MP are not "mechanical" systems. It's a method of explaining a dual auction process and a method to organize data. It's up to us, as traders, as to what we do with the data.
  • #3,728
  • Nov 27, 2011 8:18pm Nov 27, 2011 8:18pm
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting bandung
it's very true.
sc can you post TOS weekly profile? for comparison
here is mine,
last week poc and value still in the upper side of profile. maybe we can see tpos and value building below last week value to move down last week value/poc.

thanks
we are bearish on weekly charts. last day we traded down, RF=~-20, we made a lower value area on normal volume, we had a selling composite day so all pretty much point for a continuation...the reference point, i think is last month low. as you said, the last week value area implies caution till more prof.
your charts make me wish to change the platforms

PS: we have an interesting gap, we can play it maybe...
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  • #3,729
  • Nov 27, 2011 9:11pm Nov 27, 2011 9:11pm
Quoting mima
...On page 223
thanks muchly
  • #3,730
  • Nov 28, 2011 3:38am Nov 28, 2011 3:38am
We have a Neutral profile on Tokyo with fail rx on it's 2nd try which eventually falls back into IBR. I was anticipating a test then onto TK control as price opens above it. My entry was right on control price as UK did an opening test after a strong reponse prior to UK open.

Earlier signs also points to responsivie activities as price falls back into todays opening gap zone.

initial risk was 14 points, exposure reduce at 3350 with remaining to 3400.

http://img13.imageshack.us/img13/782...2nov281733.gif
  • #3,731
  • Nov 28, 2011 6:16am Nov 28, 2011 6:16am
Price is now dipping on lower volume into this pullback low as of now. I've Revise my 2nd target to a VPOC of last Wed's instead, to 3460 or just above rn of 3450.

http://img542.imageshack.us/img542/5...5nov282017.gif

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  • #3,732
  • Nov 28, 2011 8:19am Nov 28, 2011 8:19am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
if you add a tail to tokyo session looks like a short covering, same situation in london. adding this to the fact the overnight inventory is long, didn't we suppose to be in free fall after pit session opens?
  • #3,733
  • Nov 28, 2011 11:12am Nov 28, 2011 11:12am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting s7c
if you add a tail to tokyo session looks like a short covering, same situation in london. adding this to the fact the overnight inventory is long, didn't we suppose to be in free fall after pit session opens?
i got short after i saw the price fails to auction higher and takes the low of the last TPO before pit session start. i'm still in for now, i will exit part of the position after OTF down fails to continue
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  • #3,734
  • Edited 12:23pm Nov 28, 2011 11:54am | Edited 12:23pm
Quoting s7c
i got short after i saw the price fails to auction higher and takes the low of the last TPO before pit session start. i'm still in for now, i will exit part of the position after OTF down fails to continue
fair trade 7c, I would have took this set up myself but i wasn't staring at the charts then. Notice that the NY profile now is still withing UK's range, of coz is still unfolding as we speak. UK's IBL would be an immediate auction reference then or alternatively (editfri's control.
  • #3,735
  • Nov 29, 2011 1:07am Nov 29, 2011 1:07am
Quoting Evak
fair trade 7c, I would have took this set up myself but i wasn't staring at the charts then. Notice that the NY profile now is still withing UK's range, of coz is still unfolding as we speak. UK's IBL would be an immediate auction reference then or alternatively (editfri's control.
So US eventually traded within UK's profile. TK opening saw reponsive of UK IBL as reference & we can see it was then agressively initiated upwards. I waited for a pause prior to my entry after that with an initial 12 point risk, exposure was reduced above 3350, with remaining perhaps to 3460 this time or VPOC of Wed's.

http://img812.imageshack.us/img812/6...9nov291509.gif

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  • #3,736
  • Nov 29, 2011 4:31am Nov 29, 2011 4:31am
My previous trade was cut short as price pullback deep during UK opening test right onto the fair price of yesterday profile. This is a pullback low trade entry given the prior early session moves.

Risk was 15p, exsposure reduce at 3400 with 61 points. Remaining to 3460.

(Daily Profile chart is set to UK open)
http://img641.imageshack.us/img641/7...1nov291821.gif
  • #3,737
  • Nov 29, 2011 6:13am Nov 29, 2011 6:13am
This is actualy a hedge trade to my remaining long trade taken earlier but have since stop short on risk free. Now Price traverse back down to IBR which is now a rotational adjustment of current UK profile. Note that UK profile have a failed range extention before it rally up & now with this rapid price dip, it looks like another LLB?

My exposure for this hedge trade is reduced @ 3350.

http://img24.imageshack.us/img24/709...6nov292017.gif

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  • #3,738
  • Nov 29, 2011 7:47am Nov 29, 2011 7:47am
....and there's the return to the spike base, Evak.

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  • #3,739
  • Edited 10:26am Nov 29, 2011 9:09am | Edited 10:26am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting Evak
This is actualy a hedge trade to my remaining long trade taken earlier but have since stop short on risk free. Now Price traverse back down to IBR which is now a rotational adjustment of current UK profile. Note that UK profile have a failed range extention before it rally up & now with this rapid price dip, it looks like another LLB?

My exposure for this hedge trade is reduced @ 3350.

http://img24.imageshack.us/img24/709...6nov292017.gif

Uploaded...
2 nice opportunities to trade, today...i took the third one, not so clear though...
price fail to auction lower just above todays low and right after pit session opens the market tested the low and start auction higher. i entered at 1.3320 based on 5 min chart after the test was confirmed. seems like the tail is confirmed now, as usual i keep a part till OTF up continues and the other part i guess around london high/the stop is below TPO nr 2...
edit: i will move part of my stop loss just below US IB, once is established...
edit 2: seems like the price struggles to extend the US range up and the action is made by locals inside of IB, i moved my stop just below last TPO, at break even. but it seems the long term buyers are establishing positions from the locals...the TPO count now favors the buyers, it's 100 below vs 60 above at a quick count.
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  • #3,740
  • Nov 29, 2011 11:19am Nov 29, 2011 11:19am
Quoting Bilstein
....and there's the return to the spike base, Evak.

nice spotting, since you've mentioned it I sort of wonder where that spike went
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