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Dear sir,
I am new to this web but find it has a lot of useful information. I have a few questions to ask :
1) I have learned Market profile in a few months, read all the books about it. However I do not know how to use it in real time trading. I notice that you mainly use its VAH and VAL to trade. Do you just use it ? How about Single print and POC ? In addition, do you need to watch the Market Profile develpement in real time ?
2) Are you a scalper ? What is your daily goal and how many trade you would need to take evey day ?
3) What is your basic trading methodolgy ? If you trade only Support and Resistance , why you need to do homework before market open ?
I am sorry to bring you so much question
THANKS |
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I use market profile to help me understand market concept. In order to apply it to real-time trading you need to start practicing with it. You will eventually feel comfortable applying it into your methodology.
1. I watch
VAH and
VAL as well as any cluster points. Do a quick search for "pivot point clusters" and you'll find a good amount of threads on this topic.
2. I am not a scalper. I like to place 2-5 trades a day at high probability trading points.
3. I do my homework to identify these high probability trading levels as well as understanding the language of the markets. The homework allows me to create a trading plan or a roadmap for the trading day. Trading blind is a sure way to lose.
What else besides do you use market profile? I ask because I think traders combine a set of methodology that do not work well together.
Soultrader