J-Chart Analysis

[lote_tree]

Hi everyone,

I'm the latest noob to arrive on the block. I have to say wow! What a website. I hate giving out complements but I truly believe everyone here is doing a fantastic job. I've learnt so much so quickly.

Thanks to all the mods for running such a great site

My first question:

Does anyone use J-Chart analysis?

http://www.j-chart.com/

I've found it to be very interesting and thought I'd get the opinion of fellow traders.

I'm thinking of furthering my education in this field with these guys:

www.jchartwiki.com

Has anyone used these guys before and if so was it worth the money?

Thanks.

Peace....

[momentom]

hi lote tree,
never has something seemed to have so much promise and proved so disappointing.

I use market profile so j-chart was intriguing. j-chart people were great at first but the software was a bit klunky and VERY resource hungry. I couldn't get specific setups to trade. Users were not very forthcoming. It was a real shame as I still like the concept.

[lote_tree]

Hi Momentom,

Interesting.. I am looking to commite to either Market profile or J-Chart. They seem similar. What did you find appealing about J-Chart?

Did you find any significant differences between J-Chart and Market profile?

Thanks.

Peace..

[momentom]

j-chart say they are NOT MP but some techniques are compatible.

I liked the idea of breaking the day into a number of profiles which I do in MP. However, I got to the stage where j-chart, which I had reading esignal data, could not co-exist with another package reading the same data - j-chart just took over the cpu so I had to abandon it. The fact that users were not very sharing was a big factor too.

[james_gsx]

I have never heard of J-charts, it looks similar to market profile so honestly I would go with market profile. With market profile you don't need any fancy charting software, a website with big words to promise easy trading or any of that stuff to lure in newbies.

Check out all the market profile threads on the site and read Mind over Markets if you're interested. MP isn't exactly easy to learn and it will take some time, but that's the way it is with anything really. The reason I think you should look at MP over these J-Charts is rather simple, you'll find a lot more support on forums and there are plenty of resources out there to help you learn. Many people here are successful using MP and they would be more than happy to help you out with any questions you have.

There is an entire section devoted to Market Profile here...

http://www.traderslaboratory.com/forums/f6/

And here is a link to the book review..

http://www.traderslaboratory.com/for...ames-f-69.html

Just thought you should know, I don't trade using MP. I currently use candlesticks and basic technical analysis patterns. I am reading Mind over Markets and I hope that I can find a way to utilize market profile with my current style of trading. Whatever you decide to go with make sure it fits with your personality. If you're uncomfortable with it then don't do it because it will only add stress and emotion. Be cautious of all those sites that advertise easy trading - you should focus more on your own emotion than any type of analysis. Spend less time looking for that holy grail and more time eliminating your emotion

[lote_tree]

Hey

Thanks for the advice everyone. Really appreciate the input here. Having delved into J-Charts further I've come to the conclusion that in the end it's just another version of Market Profile.

One of the main reasons I was attracted to J-Charts was because I thought it may offer something completely unique together with the fact that not many people had heard of it.

I've decided to go down the Market Profile path and I'm currently reading Markets in Profile by James F. Dalton et al. I know, I've done it the wrong way round, I've ordered Mind over Markets now

I've read Steidlmayer On Markets-Trading with Mkt Profile. This was the first book I read on Market Profile. Probably not the best one because I was finding it difficult to get the nuts and bolts of the method.

Not an easy road ahead but anything worthwhile is never easy.

Cheers

Peace...