[Soultrader]

Hello ezduzzit,

I first learned how to use market internals after reading some of Linda Raschke's articles, books, and interviews. Then I picked up how to use TICK hook's from Hubert Senters. I think Hubert is great at reading market internals and there is alot one can learn from him.

I also use market profile for my trading methodology. One of the main purpose for market profile in my trading is for market understanding. I like to ask questions such as, "What is the market trying to do?", "Is price being accepted within value?", "Is there price rejection outside of value?", etc.....

Market profile enables me to understand the bigger picture of the market auction. Then I can narrow it down to my setups. So in my trading, I can not trade without market profile. This is how important market profile is to me.

I think having rules to managing your trade is important. Some people may think I tend to cut my profits short but the reason why I scale out so quickly is because I would rather much prefer to eliminate risk. The last quarter position is the main portion where I try to ride it out. The rest is only there to minimize risk and ring the register.

Tape reading is something I picked up naturally. I studied Wykcoff, Livermore, and Neill's tape reading tactics. I learned early in my trading career that learning to read tape is a huge advantage in intraday trading. So I spent approx 8 months or so staring at real-time market data with just a candlestick chart and time of sales. I never plotted an indicator and all I did was practice tape reading when price reached a certain level of importance. Tape reading is not easy but if you spend enough time watching it and practicing it you will gradually understand it. I would not say I am perfect in reading tape... there are times I will get faked out. But it has helped me tremendously in timing my entry and exits.