Published in February 29th, 2008
Tonight I am concluding the Market Profile series.
This is a little late because I wanted to show a real-time analysis of the ES.
Figure 1 sets 5-d (weekly) trend context. We are in a possible sideway market marked by A-B-C?. The A-B-C is taking place in the 18-d Primary Buy Zone, 1396 to 1370, basis cash (now […]
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Published in February 28th, 2008
Today I’ll be covering the idea of Normal Range. Derrick raised this on February 27 and it is a topic not understood by many. Indeed, many authors on the Profile take the view that: ‘Day Type cannot predict in advance and is only of marginal use in real time” (Tom Alexander’s ‘Practical Trading Applications of Market […]
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Published in February 27th, 2008
Today I want to show you the power of the Market Profile. It adds a dimension to my trading that would not otherwise be available. This is especially so when the market is in congestion and/or in a transitional phase.
In Figure 1 we have a candlestick daily chart of the cash S&P.
The chart provides a […]
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Published in February 26th, 2008
In today’s blog, I’ll be considering two practices followed by professionals that are usually ignored by retail traders.
The first one is the ability to hold, at the same time, two or more competing ideas on the basis that both are equally valid. In my mentor program’s trading training section. I start with a rule-based approach, […]
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Published in February 25th, 2008
I wrote this piece for the WILKI (a meeting place for student and friends). I thought I’d post it here to illustrate:
a) The market can and will do anything. In my case, I did not stop and reverse. I prefer to see how the market behaves at a price rather than just place a straight […]
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Published in February 22nd, 2008
The trader in this category here has probably been trading for five to seven years. In NLP terms, he ranges from consciously competent to consciously, unconsciously competent. Most of your good trainers fall into the latter category.
At this level, the trader is now or has been producing consistently profitable results. It’s not that his […]
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Published in February 21st, 2008
Tonight I was going to round off the series; but like the last detour, there is a very clear (and rare) pattern I’d like to consider.
Last night I exited crude oil longs I initiated on Jan 24 at 89.525 (basis March). If you are a reader of Nature of Trends, see if you can recognise […]
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Published in February 20th, 2008
In ‘The Steps to Success“, I introduced the idea that newbies face formidable barriers to their success. Chief among them is the unreasonable expectation of what is possible and the underestimating of the effort required to achieve their dreams. Add to these two more facts:
at the beginning newbies are unaware of what they need do […]
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Published in February 19th, 2008
I’ll postpone today’s planned topic until tomorrow. There is a pattern and a principle in the S&P that are so illustrative of my approach that I just have to mention them. But before I forget, Trader’s Interview did an interview with me. Here’s the link:
http://www.traderinterviews.com/wimpy_mp3_php/myWimpy.php?episode_in_feed=1
Now onto the pattern.
PATTERN:
In ‘Rob Nicholas’ USDJPY, I introduced one way […]
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Published in February 18th, 2008
In the next series of blogs, I shall be considering the steps traders need to take to succeed.
There is no universal formula for success - much depends on where you are on the traders’ evolutionary scale. In this blog, I’ll consider what a newbie can do. For me a newbie is anyone who […]
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