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juniorh

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    TradersLaboratory.com
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  1. Market Profile Trading Concepts

    Regarding Market Profile concepts, I think that the role that time plays in understanding market structure and development is critical factor. Furthermore, the role that time plays within the concept of tempo in terms of market development and structure gives the trader a supreme edge for consistent profitability, imho.
  2. Backtesting, Demo, and Live Trading

    W.C. Fields famously said, "It is morally wrong for a sucker to keep his money".
  3. Trading The News

    Koukam, An example of typical directional conviction is when Ben mentions that Locals are stuck Short with Commercials raising Offers (going Long). At that point I am usually already Long (depending on the Market Profile type of open) with the Commercials and will add further portions if/when Ben shouts out that the Locals have reversed their prior Short bias to join the Commercials on the Offer, a heads up of further momentum in the upward price action.
  4. Trading The News

    As caveat I think newbies should not be trading the news until they get a good few years under their belt. On the otherhand I personally use Ben Lichtenstein's traders audio s&p 500 squawk box broadcast to get a context of how the locals and commercial traders on the trading pit floor are reacting to major news and I'll take a position in their direction if there is conviction in the move.
  5. Backtesting, Demo, and Live Trading

    Back Testing is vanity, Forward Testing is sanity. After reading Mar Douglas' book Trading the in the zone I realised the importance of backtesting but also it's fallacy. Especially when you consider that there are so many variables that makes each point in the past unique and somewhat unrepeatable. Now I appreciate more J Dalton's Mind over Market and itradepod's discretionary approach to trading based on inherent market mechanics rather that a purely mechanical system that heavily relies on backtesting.
  6. Traders Audio

    Need to know what to listen out for. Learnt from itradepod that Locals getting stuck is a good heads up to fade their position especially when Commercials are on the other side of the Locals trade at the time.
  7. Logical Trader by Mark Fisher

    I read it cover to cover. But then I found out about Market Profile Trading and it is a much better way to trade the opening range in my opinion.
  8. Pit Noise Discount Link

    Traders Audio are also running a S&P 500 Squawk Box Broadcast FREE Trial via this link.
  9. Occupy Wall Street Is Getting Ugly

    Malcolm's qoute says it all. Not heard anything about this demo on any UK main stream news channels and definitely not seen it on BBC state tv.
  10. TPO Indicator

    mefTrader, As for Market Profile trading software iTradePod use Financial Alogorithm's (Final or Fin-Al not sure) Market Profile Trading TPO Chart indicator in their trading room.
  11. Market Profile Trading Concepts

    Tasuki, Rather than soley rely on the profile graphic, I use Order Flow Foot Print chart to observe COT/Cumulative Delta setups to give me a final execution comfirmation heads up on whether to fade or follow the trend. DowIndexTrader(DIT)
  12. Is Market Profile an Outdated Tool?

    No. I use it along with VWAP and Order Flow setups for execution. I use the insight of Market Structure and Developement that Market Profile Trading provides me with. I trade that insight as oppposed to trading the profile as just another indicator on my chart. More can be found on this in the Value Trading article. DowIndexTrader(DIT)
  13. Market Profile Trading Room?

    Is this room still open?
  14. Market Profile Trading Room?

    Going back to the original question. I have used iTradePod and their trading room is primarily based on Market Profile Trading but they also execute off Order Flow and COT/Cumulative Delta setups. Although they do not trade the news, they do promote Ben Lichtenstein's Traders Audio Live Squawk Box Service and offer it for a reduced $75 which is $50 below the usual price of $125. In the trading room they broadcast the sound of the trading activity happening on the CME S&P 500 trading floor pit at regular intervals which adds an energetic ambience to the trading room while trades are being called live. They also do pre-market prep. As for Market Profile trading software they use Financial Alogorithm's (Final or Fin-Al not sure) Market Profile Trading TPO Chart indicator in their trading room which is a more affordable option because once you pay Fin-Al the one off fee for the indicator it's yours, unlike software most vendors such as Marketdelta whose software is also good but comes with a relatively high ongoing monthly subscription. Additionally, iTradePod offer the TPO Chart at a $50 discount. You may find the Value Trading Basics article useful for a primer on how to trade some Market Profile and Auction Market concepts. Hope this is helpful. DowIndexTrader(DIT)
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