Comments on: Questions about the Following the Quest for Value course http://theessentialsoftrading.com/Blog/index.php/2008/08/28/questions-about-the-following-the-quest-for-value-course/ Information and resources for those looking to learn about trading and the markets Wed, 23 May 2012 13:10:54 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: John http://theessentialsoftrading.com/Blog/index.php/2008/08/28/questions-about-the-following-the-quest-for-value-course/#comment-12700 John Fri, 29 Aug 2008 15:59:55 +0000 http://www.theessentialsoftrading.com/Blog/?p=570#comment-12700 Craig: I'll address your second set of questions seperately in an upcoming blog post. It warrants a bit more space and is on a seperate topic. As for the first part, MP charting is absolutely 100% available for forex. Obviously, volume is not something you'll have in the spot market, but that doesn't mean you can't plot the price distribution chart. The fact that spot forex prices are indicative and not traded (as is the case for exchange based instruments) actually could be seen as providing more weight to the price plots. In terms of the charting, it definitely helps to have the MP charts, but it's not critical when you know what you're looking for. Also, are you sure you don't have MP charts? Many packages have them now, though relatively few actually call them Market Profile. They use other terms. Craig: I’ll address your second set of questions seperately in an upcoming blog post. It warrants a bit more space and is on a seperate topic.

As for the first part, MP charting is absolutely 100% available for forex. Obviously, volume is not something you’ll have in the spot market, but that doesn’t mean you can’t plot the price distribution chart. The fact that spot forex prices are indicative and not traded (as is the case for exchange based instruments) actually could be seen as providing more weight to the price plots.

In terms of the charting, it definitely helps to have the MP charts, but it’s not critical when you know what you’re looking for. Also, are you sure you don’t have MP charts? Many packages have them now, though relatively few actually call them Market Profile. They use other terms.

]]> By: Craig http://theessentialsoftrading.com/Blog/index.php/2008/08/28/questions-about-the-following-the-quest-for-value-course/#comment-12698 Craig Fri, 29 Aug 2008 11:40:04 +0000 http://www.theessentialsoftrading.com/Blog/?p=570#comment-12698 John - This appears interesting, but how valid would this be if one didn't have access to the market profile charting? Also, is market profile charting even available for forex, as my understanding is most people gauge volume by the CFTC report that comes out every Friday afternoon (ie there's no volume reported as forex is a very distributed market instead of all controlled by a single entity). One other item I'd hope you'd be willing to comment on - when devising a trading approach/system, what are some of the items you'd recommend we look at and take into account? Are there any specific indicators/etc that you find have more merit than others? Are you willing to share what indicators you consult on your charts (if any)? Thanks again for all the information. Just received my strength/weakness video and plan to sit down and go through it a few times this weekend. John – This appears interesting, but how valid would this be if one didn’t have access to the market profile charting? Also, is market profile charting even available for forex, as my understanding is most people gauge volume by the CFTC report that comes out every Friday afternoon (ie there’s no volume reported as forex is a very distributed market instead of all controlled by a single entity).

One other item I’d hope you’d be willing to comment on – when devising a trading approach/system, what are some of the items you’d recommend we look at and take into account? Are there any specific indicators/etc that you find have more merit than others? Are you willing to share what indicators you consult on your charts (if any)?

Thanks again for all the information. Just received my strength/weakness video and plan to sit down and go through it a few times this weekend.

]]>