Crash course into MP

[ammo]

i've been crying all morning,had to open 2nd box of tissue,over oac's comment,seriously tho,if you get insulted,and don't respond or respond like a gentleman ,any barbs should just burn themselves out

[OAC]

	Quote:	ammo
	i've been crying all morning,had to open 2nd box of tissue,over oac's comment,seriously tho,if you get insulted,and don't respond or respond like a gentleman ,any barbs should just burn themselves out

Ammo:
You are obviousely a very modest individual. The comment was meant to be an endorsement. It is obvious to me that you do use floor trader's market profile lingo. First let us get some facts straight :
(1) Peter Steidlmayer invented MP, but Market Profile is OWNED by an Exchange, in this case the CBOT.
(2) Floor Traders are members of the exchange and probably the first ones to try out market profile.
(3) Foor Traders are known for their vulgar languages with occasional sexist overtone.


So ammo, when you speak, I believe you are speaking from the source.
Whereas Btfox named a whole list of individuals, with the exception of John Dalton who authored two books, the rest are just vendors. One thing that I hate is getting caught up in a vendor's hype.

[ammo]

i wasn't offended oac,i've read your posts,i just used it as an opportunity to expose the value/or lack of, taunting people on threads,i'm interested in any trading site that can improve my bottom line and when people come on here and emulate sword fights over the toilet like a couple of 8 year old boys,they are embarassing themselves,and its a lot of crap that others have to read while searching for trading info,good luck,i'm enjoying your posts p.s. i mentioned on here that those could very well be drew cary's boobs and didn't mean to offend any of the ladies

[ammo]

by the way,this is so far a 3 boob day like last monday,there is a chance we trade back up to 1252 on spus

[btfox]

Right, well I don't know Trevor but I thought the MD had promise. He is using some MP ideas in developing his software and I thought that even Don Jones has mentioned him. I've watched Frank Butera call trades and though he may is not among the older generation of MP users, he does know Dalton's work and has adapted it for his own use.
Btw, there is a Jones who is co-author of Dalton's book and he is the son of Don.

As I mentioned Don Jones has been associated with MP since the 80's. I don't know if he was working hand in hand with Pete S. when he developed MP, but he is obviously an authority. And he will talk to you and mull over trading ideas. I had no problem making money in the short course using just the basic information...but you are watching probably a dozen markets and looking for the best trades.

I'm not so sure that floor traders cared about MP, because MP delivers what you get from standing in pits. As the 30-yr pit dried up, bond traders walked over the the Ag pit. The best have good memories for levels and you get lots of info standing shoulder to shoulder with traders. As markets go electronic traders have had to adapt. The most successful trader I know, a bond trader for 20+ years, "trades by feel." He does, of course, have all that experience up his sleeve. He would still go down to the pit on occasion but he said that he was making more screen trading--probably 3 5-min interest rates charts (5s,10s,30 yr), the dow, sp, are hidden under a screen filled with TT Domes. He day trades, also holds overnight, and scalps the dow.

In general, I would say that the best MP trades are breakouts from a balance, especially those of a minimum of 2-3 days. Reactive trades from extremes are less dependable, but once the market begins a move out of it's current balance it will be seeking a new one--those are the days where you can count on the best moves.

I think a lot of pit traders are having trouble adapting to the screen and they are the ones looking at what's out there to help them. If anyone is interested in MP after learning the rudiments, then I think Dalton is the next logical step. Cisco-Futures and a lot of information; PS's original work is in pdf file at cbot website under Education-Market Profile. Just don't expect to see anything resembling a trading system. Good Luck.

[btfox]

btw, I am not associated with Don Jones or any of the others mentioned above. I takes knowledge where's I can finds it, and I ain't got nottin to sell!