View Single Post
  #2 (permalink)  
Old 14-02-2013, 12:28 PM
no1lives4ever no1lives4ever is offline
Newbie
 
Join Date: Jul 2009
Posts: 3,296
Thanks: 19,013
Thanked 5,549 Times in 2,358 Posts
no1lives4ever has a reputation beyond repute
no1lives4ever has a reputation beyond reputeno1lives4ever has a reputation beyond reputeno1lives4ever has a reputation beyond reputeno1lives4ever has a reputation beyond reputeno1lives4ever has a reputation beyond reputeno1lives4ever has a reputation beyond reputeno1lives4ever has a reputation beyond reputeno1lives4ever has a reputation beyond reputeno1lives4ever has a reputation beyond reputeno1lives4ever has a reputation beyond reputeno1lives4ever has a reputation beyond reputeno1lives4ever has a reputation beyond repute
Default

While I havent got a very good hang of it, I would still recommend the following for anyone looking to learn MP:

1. Read through both the dalton books a few times.
2. Read through the steidlmayer books
3. Go through dalton's field of vision video course.
4. Watch all the videos dalton has posted on vimeo.

While you are going through the above texts to get a basic idea of MP, you will never be able to make much use of MP w/o realtime charts. Make sure that you have realtime MP charts and track around 10-20 different instruments using MP. The more charts you can track intraday the faster you will learn. Ideally include stock charts, index futures, currencies and commodities in your list.

Try to predict the shape of the day's profile before it forms. Look at the sequence of profile shapes formed. Dalton's second book and the field of vision video gives a good idea on the thought process towards analysing using MP.

Finally, dont treat everything you read in books as what works in the real world. Some stuff given in books dont work. Some only work for certain instruments. Test out every rule, every observation, etc.

Another thing you can do is to post your charts and your observations on the charts on a separate thread. The Market Profile in practice thread has many such postings from past. You may want to go through that thread with historical charts so that you can see the relavant charts from when the posts were made. This can help clear some doubts and also show you how people use MP in the context of indian markets.

-- no1lives4ever
Reply With Quote
The Following 3 Users Say Thank You to no1lives4ever For This Useful Post: