Tuesday, August 19, 2008

MP software and links.

Many readers have asked about market profile software. There are many but ones that have serious emphasis on MP are

- Invester / RT,
- Market Delta and
- windotrader

I use Market Delta with DTN feed. I use their bid ask analysis, PNF and the regular candlestick charting as well. I dont know of any MP course that I can recommend. If anybody has one please do so. There are many good reads on MP. Daltons' Markets in Profile, especially, I have read at least 5 times.

I think learning MP is like internal medicine. I consider myself an intern. Everyday, every mini balance, week, and monthly balance brings new learning. Its a lesson that will never be quite complete. I am a firm believer that the Market is constantly changing and is never again the same. Its human element part of the market that remains somewhat predictable.

2 comments:

Trevor said...

Surarel, thanks for the MarketDelta mention. As you already indicated, only MarketDelta offers the Footprint chart and bid/ask analysis that compliments the Market Profile and provides traders with a way to validate what they are seeing on the Profile.

Thanks Again,
Trevor

leon t said...

i like market profile and believe it's a good organizational tool. yet, its developer and original proponent, peter steidlemeyer, has shied away from it. the reason, the entry into the markets of the major funds. whenever i see a market profile follower or seller, and i ask them about this, they just digress.i've spoken to the co -author of steidlemeyer's last book, which could be looked as an attempt to promote their software, and he sees all profile "peddelers" as just trying to exploit the concept.
i think the tool works when used with other information.maybe that's why the footprint works, for the short term.
i've heard jim dalton speak and i get the impression that he is so into the markets, that he would be impressive using any tool not just the profile.
an inexpensive course in m/p is offered by balanced trader. you see live videos of past profiles etc,
however, in the long term, all i read indicates that the profile should be used with great caution fwiw.