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Reaver

Ant, what do you think about Alexander Trading?

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would you recommend it also to people who already read all available literature on Market Profile ?

 

Yes, I do. Of all the books this is the only one I'll probably go back to. I also like Ray Barros' MP ideas but his DVD is $3200!

 

nic

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BTW, I don't own the DVD. I'm just going by what he has taught on his blog.

In what way, do you think Alexander book is good ? Does it provide detail on how to enter and exit the trade ?

Thanks

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Yes, I do. Of all the books this is the only one I'll probably go back to. I also like Ray Barros' MP ideas but his DVD is $3200!

 

nic

 

 

Hi Nic, I assume you have read both of Dalton's work correct? Do you like Alexander that much more? Sorry if it's a silly question. I am just trying to find out in more detail what you like about it, that's all. I am just attempting to learn and blend MP with Wyckoff and general price volume analysis. BTW you and Db are doing a great job on that thread. Good trading to all.

 

Dan

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Hi Dan,

 

Thanks for the feedback.

 

Half of Alexander's book is a concise, quick review of MP.

 

He focuses on "Key Reference Areas (KRA) that are inflection points of specific areas where we need to be making decisions about trade opportunity."

 

KRAs are:

  • Range extremes (this can be the day's high/low, a previous day's high/low, or the high/low of the range of a composite
  • High volume nodes
  • Single prints and/or high volume rotations
  • Buying and Selling "tails"
  • The Value Area High
  • The Value Area Low

 

"Here are a few other points we learned from the previous examples that apply as we develop our trade Strategy:

 

The best trades occur at the extremes:

  • Near the extreme of a wide Initial Balance Area
  • Near the extreme of the 10-day ATR
  • Near the extreme of the previoius day's high or low
  • Near the extremes of a composite profile (balance area)
  • Near the extreme of a wide Initial Balance Period
  • Near a time extreme - first 30m or 60m IBP

 

The book is short and to the point and will be easy to go back to and find the strategies and tactics. I really like his use of high volume nodes and 3-5 day composite profiles.

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