MP on excel

[gomes]

	Quote:	ryker
	Thanks This is a bit strange I have to say. First thing is that you must respect format in if not, it won't work. Second maybe scroll in the chart areato check if the chart is not somewhere where it's not visible? And third, if it's not working you should have an error message? If it's still not working just contact me on PM and I'll take a closer look (but should work as I've tried it with at least 30 symbols, inclunding bonds, futures and forex...). Ryker

Hi, Ryker
I am sorry for my ignorance, I didn't mean I changed the code or anything in excel sheet you made it. What I mean was I tried to change the symbol, and tick size etc.. I think my question was how can I change the symbol. sorry for the bother again. thanks in advance
Regards
Humberto

[ryker]

Hmm you can't really do that. You need to paste the data in and then change contract info manually.

In my version this is done automatically via the link in Bloomberg, but you need to have a Bloomberg terminal .

In the version I'm working on, I've got data stored in csv files for 30 symbols, and I can chart MP (with some other features ) and also updating my data from Bloomberg (it's possible to link to another data source). But it's not ready yet unfortunately... Nearly

[bobajob]

MEGAUPLOAD - The leading online storage and file delivery service

The pdf attached has 4 days trading - not consecutive. Lets start with page 1:

So the chart shows the price on the left, it's the ES by the way - 2004 in January. Then there are 4 profiles of the previous days. On the right are 5 minute bars in a profile. They are gradually updated as the page goes to the right. Each profile is a half hour addition. I use this to see if I can identify patterns. I will share some features of what I look for here.

The previous day had touched the highs of a few days previously but could not trade higher and in fact built a balance area below these highs creating a relative tail. Notice that a tail should not be just single print TPOs. So the market on our day opens up below the high volume area. Another point to weakness. So you would think that we are looking to short the market - ideally at the highs that could not be breached, but it might not get that high of course. So next I look at how the day starts to develop. That means I tend not to look for trades early in the day, there is not enough profile to base my decisions on. The main point to remember with all these trades is always to buy below value and sell above value - unless the distribution has been broken - in that event you can very often trade at the POC as this becomes the final tipping point that starts a trend move. On this day you can see I marked a short trade in the second peroid (the shaded area). I would set a stop for this very close to my trade (1 point in the ES). This is because I would rather reassess the market and get in again if need be. My studies show that this creates consistent profits for me. You can see how the market fattens at the lower area - this is just asking for the market to test lower. It is a sight that I don't think you see often as a profile trader. The market does however trade higher. I place another short because this is such a golden opportunity to short the market. This time I take profits on my first trade when the market heads back towards the POC - insurance if all goes wrong - remember prediction is only guessing at the end of the day. The dashed lines show the extremes of that period of trading and help me identify ideal trade location after the day is over. The market continues to fatten and then breaks as expected. The next problem is where to liquidate the short. Watch the previous distrubution areas for this. With hinesight we can all see where I should have liquidated - however I got a bit greedy. The market started to develop so I had to take a lower profit. This is why reviewing the day is so important - it matches what you did with what you should have done. So that day would have made 8 points without commission. No bad.

The other days should be self-explanatory given my notes - The first trade was stopped out and the next was a small profit. You may see that my trading at the moment catches reversals well - but the break trade is still a problem. I must work on that as it will offer the most profit in the end.

I hope this helps a bit and I am happy to explain any other features of what I uploaded.

[gomes]

	Quote:	bobajob
	MEGAUPLOAD - The leading online storage and file delivery service The pdf attached has 4 days trading - not consecutive. Lets start with page 1: So the chart shows the price on the left, it's the ES by the way - 2004 in January. Then there are 4 profiles of the previous days. On the right are 5 minute bars in a profile. They are gradually updated as the page goes to the right. Each profile is a half hour addition. I use this to see if I can identify patterns. I will share some features of what I look for here. The previous day had touched the highs of a few days previously but could not trade higher and in fact built a balance area below these highs creating a relative tail. Notice that a tail should not be just single print TPOs. So the market on our day opens up below the high volume area. Another point to weakness. So you would think that we are looking to short the market - ideally at the highs that could not be breached, but it might not get that high of course. So next I look at how the day starts to develop. That means I tend not to look for trades early in the day, there is not enough profile to base my decisions on. The main point to remember with all these trades is always to buy below value and sell above value - unless the distribution has been broken - in that event you can very often trade at the POC as this becomes the final tipping point that starts a trend move. On this day you can see I marked a short trade in the second peroid (the shaded area). I would set a stop for this very close to my trade (1 point in the ES). This is because I would rather reassess the market and get in again if need be. My studies show that this creates consistent profits for me. You can see how the market fattens at the lower area - this is just asking for the market to test lower. It is a sight that I don't think you see often as a profile trader. The market does however trade higher. I place another short because this is such a golden opportunity to short the market. This time I take profits on my first trade when the market heads back towards the POC - insurance if all goes wrong - remember prediction is only guessing at the end of the day. The dashed lines show the extremes of that period of trading and help me identify ideal trade location after the day is over. The market continues to fatten and then breaks as expected. The next problem is where to liquidate the short. Watch the previous distrubution areas for this. With hinesight we can all see where I should have liquidated - however I got a bit greedy. The market started to develop so I had to take a lower profit. This is why reviewing the day is so important - it matches what you did with what you should have done. So that day would have made 8 points without commission. No bad. The other days should be self-explanatory given my notes - The first trade was stopped out and the next was a small profit. You may see that my trading at the moment catches reversals well - but the break trade is still a problem. I must work on that as it will offer the most profit in the end. I hope this helps a bit and I am happy to explain any other features of what I uploaded.

Thanks Bobajob for the Pdf. It is full of information. More like a puzzle I tried to put it together. I can't say I fully comprehended but I did dig into it. When I was digging it some questions came to mind.

You are saying "buy below value and sell above value" without seeing value on your charts, how do you determine where the value is?

Can you talk about this subject a little more "The main point to remember with all these trades is always to buy below value and sell above value - unless the distribution has been broken - in that event you can very often trade at the POC as this becomes the final tipping point that starts a trend move.". What do you mean unless the distribution has been broken? What I thought is, when we have double distribution, it tells us that there is a shift in market's value, value has been changed and market didn't find its new value so we don't know where the new value is yet. But again I think we can sell above value and buy below value. If market has broken down the bracket and llooking for new value below the bracket thats we can short any rally close to popular price areas from previous day.

On your first sheet, you say "should cover at C given that market wont go into cluster" before the fact how do you know that or how did you see that?

what is break trade "but the break trade is still a problem"?

Can you compare your trades on page1 and page3. what are the differences? Page1 you wanted to short it, Page3 you want to buy it, Why?

Also special thanks for explaining your 5min bars in a profile. I loved it.
Market sends us messages, but it is our job to decipher this message. I think MP is one of the good ways that appears to me. It is like a bright star shining.

Thanks in advance again.
Regards
humberto

[bobajob]

Ok I will try and answer you lengthy questions.

First point - when I referred to value I meant the POC not 70% value area. I consider this the most important price. I mean sell above the most traded area and buy below this level.
Next point - you have to trade where you want not where the market tells you. So you want to gain an advantage - if price develops a large volume at a certain level you want to sell above that level - obvious stuff. This way you have your edge. Never break this simple rule and sell below the POC. But this is only true if price stays in its developing bell curve. Once price moves out of this bell curve you want to go with the move. But if price retraces to the POC you may be able to get the trade in a more advantageous price. Once again trading where you want not just jumping in.
The example on page 1 of the pdf - the market finally breaks down towards the end of the day - so the curve has been broken. The best place to sell the market is in the A period in the penultimate half hour - but you do get other opportunities in E period and even F for less gains. This price is techncally below value for the day but a new curve is developing - right?

My next point - all comments are made after I did my learning/trading - they are in hinesight, they help me see what I should have done. If I see the same messages repeated maybe they will become second nature.

Next point comparing trades day 1 and 3 - there are very little differences at the beginning of the day - right? They both open slightly below the POC so could show weakness. Don't, here, confuse my comments on what I should have done with what I actually did. On both days I shorted the market to make profits. To me that is because, as I said, the days looked the same. I saw where the market stalled and sold the reversal. However, the difference with day 3 is that I bought the market when it moved lower - as it showed strength that was not shown in day 1. We broke out of the distrubution and so the odds were with us that there would be support under that level. On day 3 by the end of the day we have 3 distributions and I bought at the point of distribution 1.

The whole point of my method is just to look for bell curve distributions and trade off acceptance or rejection of these previously developed areas. The market tends to get trapped into distributions that it was currently in - a bit like an old memory - maybe the same traders trade in those old locations - not sure.

The above explanation of day 1 and 3 should explain what I mean when I say I cannot do the break trade. What I mean is that on day 3 the market broke higher. Most of the profit was in the directional move higher - yet my method only allowed me to short the reversal - luckily it was an OK move down - but if there was increased strength I would have been stopped - right?

Luckily the market always rotates a bit every day - so there is always a little profit in fading a directional move.

Hope this clarified a bit.

[gomes]

Thanks bobajob,
You answered my questions
It was interesting to see your take on MP. There are somethings in it to beneficial to anyone who knows what they are looking for. you are very generous to share your analysis.
and I want to thank everyone for their contributions to the subject.
To wrap things up, the reason I asked for MP on excel was to see how the value area changes with the price changes during the day and if I have some kind of tool like the ryker has I can run the price before it gets there and see how the profile looks like. Where the POC is going to be and wit that where the value area is moving to and market looks balance or not, if value area stuck how it will be balanced again etc. This was just a thought.
And I have one more question to ryker,
Ryker I am unable to paste the info in the sheet to chage the MP, but I can change the info in that symbol you send. So I am asking you if you can share the excel spreadsheet for ES symbol if it is handy. I was going to PM you but maybe someone else can benefit from it, I asked you in the forum. Thanks in advance.

Regards
Humberto

[ryker]

	Quote:	gomes
	Thanks bobajob, You answered my questions It was interesting to see your take on MP. There are somethings in it to beneficial to anyone who knows what they are looking for. you are very generous to share your analysis. and I want to thank everyone for their contributions to the subject. To wrap things up, the reason I asked for MP on excel was to see how the value area changes with the price changes during the day and if I have some kind of tool like the ryker has I can run the price before it gets there and see how the profile looks like. Where the POC is going to be and wit that where the value area is moving to and market looks balance or not, if value area stuck how it will be balanced again etc. This was just a thought. And I have one more question to ryker, Ryker I am unable to paste the info in the sheet to chage the MP, but I can change the info in that symbol you send. So I am asking you if you can share the excel spreadsheet for ES symbol if it is handy. I was going to PM you but maybe someone else can benefit from it, I asked you in the forum. Thanks in advance. Regards Humberto

I'm sure there is a misunderstanding somewhere here...
Have you seen the button on the top right of the data sheet, you need to press it after having paste your values.
Are you really unable to paste info in the data sheet? This sheet has been designed to handle several symbols you just need to change the infos and paste data in Data sheet, I don't have any ES symbol sheet...
Let me know if you still have a problem.

Thanks

[gomes]

Hi, ryker
You are 100% right. I made it. I did as you said and finally I was able to create the MP. It couldn't be easier than this but I couldn't see it.
Thanks a trillion to you ryker. You are a good fellow.
I will use your spreadsheet each and everyday.
Regards
Humberto

[ryker]

Glad that you finally did it , let me know if any problems with it.

[gomes]

Hey, ryker
Day first,
I didn't know your spreadsheet comes with a bonus trade like this.Yikes! There is a handsome profit.
Look at this MP charts. One from yesterday and one from today.
Thanks a lot mate.
Regards
Humberto