[Clef]

Thank you, 86834.

For developing a better understanding I kind of liked Investor R/T for the reason that you can replay the session and see P and b developing.

Being new to market profile, I want to paper trade first until a consistency in profit is developed. But as you said, Investor R/T costs about $75 per month. I will certainly look at Final algo.

Clef

[BlowFish]

Clef it is probably worth mentioning that trading with market statistics requires a different set of tools to MP. Whilst there appear to be similarities there are key difference that are discussed at some length on a couple of occasions within the "Trading with Market Statistics" threads.

The two tools required for the techniques and observations presented here are PVP (volume 'POC" if you like) and the VWAP. There are a whole bunch of packages that offer these either natively or with user written studies.

[Clef]

Thank you, BlowFish.

Do you recommend any particular set of studies on market profile? I know some traders trade with HVN/LVN, VWAP scalp trading mostly using auction market theory, whilst other traders have combined AMT with volume spread analysis. The trouble is that they all look promising.

Clef

[BlowFish]

So you do want Market Profile rather than Market Statistics? Fin Alg is pretty decent and inexpensive as 86834 said.

If your are still looking for a 'style' I would recommend reading all these market stats threads carefully (or Jerrys posts at least). They are quite comprehensive. I am probably not well qualified to talk about MP but it seems to me most of the resource seem to be about theory and analysis rather than actual trading. Having said that VAH VAL seem to be widely watched levels I am pretty sure you could find/come up with something pretty robust trading at these levels.

[ochie]

I'd like to add that after going through the market stats threads (as BF suggested) and the MP style is the one you want to go with, spend some time going through this MP thread James (Soultrader) put together. Actual trade setups were built on top of the analysis from what I remember. [MP] Trading with Market Profile

[Clef]

I visited at fin alg website. While it is true they charge $250 one time fee for license, they have a service called Market Balance that costs $59 per month. By reading through the description of market balance, this feature seems similar to market delta's foot print chart.

I will continue to read the threads on Trading with Market Profile.

Thank you for your insight.

Clef

[bomberone1]

[QUOTE=jperl;14010]
What he has learned so far or at least should have learned is that market direction is reflected in the relation of price to the VWAP AND the relation of the VWAP to the PVP. Market data is skewed to the upside when the VWAP is above the PVP, skewed to the downside when VWAP is less than the PVP and symmetric when VWAP ~= PVP.

NEWBIE should be trading only in the high volume region of the price action
so for NEWBIE to enter a trade, the following conditions should prevail:

Long Entry:

VWAP > PVP and price action above the VWAP

Short Entry:

VWAP< PVP and price action below VWAP

No Trade:

VWAP~= PVP
/QUOTE]

Sorry about this but
but peak volume price (PVP)
vwap
Point of Control (POC),

are different we should compare the formulas.

What are the difference in concept?

[ValueTrader]

Hope i've understood your question correctly...

PVP = The price with the most volume traded over a given period.

POC = The price with the most TPOs (time/price opportunties) over a given period. Tpos come from market profile or a meta profile style chart.

Knowing the TPO based POC or its computation are not required for using Jperl's techniques.