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Market Profile Exploring the Auction Theory

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  #21 (permalink)  
Old 20-06-2010, 11:10 PM
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More step forward...






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Old 21-06-2010, 05:20 AM
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Originally Posted by devdas View Post
More step forward...







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Old 21-06-2010, 05:46 AM
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Originally Posted by devdas View Post
More step forward...

Nice explanation buddy. Keep up the good work.
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Old 21-06-2010, 03:44 PM
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I will try to comeup with today's profile experiance in evening.
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Old 22-06-2010, 03:00 AM
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There are many-many things in simple profiles, and every of these can be used for trade, due to time limitation, im discussing in very summurize way, and only that how last hour short trade used. Decision to break profile from 'D' is not random, there is much more behind this logic, i may explain more about this some time latter.

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Old 22-06-2010, 06:56 PM
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How today looked...




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Old 14-07-2010, 03:17 AM
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It is random-cum-personal thought towards today's approach and so its here.

1) Some time back ( perhaps a month or two ago ) , i had a tendency to seek trade as soon as mkt opens, i used to look for what 10-min Opening range did, what delta did and doing at present, is price past keltner band on range chart and few more...that was not bad to search for information but also put pressure to get result right and success. Slowly i felt it is getting more and more complexity and uncertainity over the clashing of more than one information. It gave feeling of a rough abstract equation,

Probabilty of Successfull trade = ( Prob. of succ. by 1st info) x ( Prob. of succ. by 2nd info) x ( Prob. of succ. by 3rd info) x ...... and so on.

and not to say, it clearly shows how much one has to fight with increasing information.

2) Some how, i get rid of most other infos, except delta ( and even this delta is secondary for decision ) and only current day's Market Profile chart. There is no hurry to seek trade, it will come by mkt itself. Usually on most days , used to wait for Initial Balance to complete, cause it bases the preparation for further periods. If i wanted to trade in Initial Balance itself than its preparation might heavily depends on previous day's Market Profile parameter. More the late , more the clear picture of day and better the trade. Used to seek where the profile is going to change the mode, and that might give the trade. Here i think the term 'mode' is clear to many. 'Mode' can be visualised as subset of 'Ryhthm', and most of days mkt start in a ryhthm that get a shock in between from where mkt changes its mode. Regular observation of profile chart will clearly shows this point.

3) Due to today being an event day ( infy ) i thought not to trade after 10:30 or atmost upto 11:00, whether i get a trade or not. This had to do as the old days to seek trade right from opening and bound to dig Initial Balance.

(a) Luckily after opening it started building volume node in 5377-80 range, delta showed some response and with prior day refernce lvl 5387 as S/L, short was appropriate. It paid and gone down and started to pileup volume near opening.

(b) This formed a double distribution in 'A' and force me to think that perhaps mkt is going to rotate in 'A's range itself given the event day nothing much going to happen before 11 AM. So logically now longs can be taken at lows, but as i write more information more complex, naturally i saw delta bars which were still in falling pattern. Now this clashes 'long' as not as strong response seems at bottom as it was at top. Still i prefered to avoid delta and gone with logic of double distribution.This paid and it again reached upside.

(c) I had got 2 success trade and might quite but till then 'B' complete and its again top heavy 'P' shaped. One more short paid, and finally sit back to watch rest.

4) Mkt was in Balance mode or a Ryhthm right from opening and continued in same till then 'D' completes. 'D' still not shows any break from previous balance mode but it broke the ryhthm of making similar high and similar lows. This was an indication that mkt either out from balance or going to do so soon. And the same start happening from that point, relatively big OTF mode type legs started forming. Iv tried to make visuality of this change in ryhthm on TPO chart.



5) On usual day trade opportunity emerge from this point where mode changes but i had to do nothing as predecided. And below chart shows clashing of information, continuous decrease in delta was sufficient to trap short at 'A's low , even if i had came late to trade after 11 AM then easily gone 1 or 2 S/L hit.
So day tarde with as less information as possible, its my view.

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  #28 (permalink)  
Old 21-07-2010, 02:32 AM
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This( 20th July ) was just another interesting day in many ways....most in comparision and similarity with 13 july. Post will briefly discuss in two parts,

(1) Mode changes in day ( 20th july )
(2) Landmark Period of Profiles - OutsideBar.

(1) Here is todays profile, '1' arrest early developement of OTF sell mode in A+B, and sent the profile in balance mode. Criteria is same, 'C' made similar low ( or in other word fail to make significant lower low than 'B') as B and also made similar high. This diminishes the possibilty of OTF sell mode in ealry stage itself. From 'C' to 'G' it behaved in same way of making similar high and similar low, till another shocking mode change happened in 'H' which made significant lower low than 'G', this sent mkt out from previous balance mode. What would have been the strategy to trade in balance and out of balance mode...
Oscillators based fading the DVAH and DVAL in balance mode, and
any trend/momentum following in out of balance mode.



(2) This ( Classic OutsideBar ) is very disturbing and common just after mkt gets a shock and tries to comeout of prior balance mode. Why it is disturbing -- Most often balance participent tries to pull in thier direction and so gyrates wildly till a final winning direction emerges. Best treatment is to let it develope and complete, cause this just sets the landmark reference which serve as very good S/L choice. Both 13th and 20th July has similar structure, started littile dull , got mode change from balance , having a OutsideBar, similar attampts to reenter in Value after thrown-out.
What is most joking coincidence in both of them.... -- 13th July developed its balance region with more selling TPO ( TPO above DPOC > TPO below DPOC ) but finally breakup after drama, while 20th july balance region had more buying TPO ( TPO below DPOC > TPO above DPOC ) but gone breakdown...

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  #29 (permalink)  
Old 30-07-2010, 11:50 AM
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Before Week ends...may not get time in weekends..its here , almost traded whole week with volume bars, some good experience got...i can tell in short, but its better to feel urself in live mkt. Well almost every thing can be traded within context or with help of Market Profile. Its todays morning chart with volume bars ( volume of each bar = 100000 ) and with 2 moving average. If one has idea of Market Profile refernec lvls then only job is to align urself with good entry, one even dont need these MAs but its eyecandy ( Czar ) so keep it on chart. I think ( i felt so using it ) volume bar has slight advantage over time bars and range bars as,

1) It possess virtue of both fast, and slow mkt. In other words its possess virtue of both time and range bars. If mkt is slow time bars keeps on pouring but range bars may not, and volume bars also keep on pouring atleast with greater rate than range and time bars in some instances of slow mkt. If mkt is fast, range bars might have higher rate of forming than time bars and voume bars may also have similar higher rate than time bars.

2) Some of the standard Price Action are more prompt in case of Volume Bars. Earch bar have equal volume, low range formed in between have very good indication of indecision and forthcoming breakout.



Whatever one uses, must know how to use and it works. My favourite is still the same old things watching TPO chart for mode change, trade OTF buy/sell mode and trade balances after mode change. I had some difficulty in early judgement of OTF buy/sell mode...but seems i have resolved it, they often start/ends from/to a refernec lvl and rest entry part is done by any trend following indicator.
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  #30 (permalink)  
Old 30-07-2010, 12:28 PM
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