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.


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,

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.