Archive for February, 2008
Friday, February 29th, 2008
Market Profile Conclusion
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 […]
14 Comments » - Posted in Written Plan by ray
Thursday, February 28th, 2008
Normal Range in the Market Profile
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 […]
15 Comments » - Posted in Written Plan by ray
Wednesday, February 27th, 2008
The Power of the Market Profile
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 […]
15 Comments » - Posted in Written Plan by ray
Tuesday, February 26th, 2008
Two Missing Igredients for Success
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, […]
5 Comments » - Posted in Generic Success by ray
Monday, February 25th, 2008
A Surprise or Unexpected Event
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 […]
6 Comments » - Posted in Generic Success by ray
Friday, February 22nd, 2008
The Steps to Success (3)
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 […]