Comments on: How to identify price targets for your trades http://theessentialsoftrading.com/Blog/index.php/2008/12/05/how-to-identify-price-targets-for-your-trades/ 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/2008/12/05/how-to-identify-price-targets-for-your-trades/#comment-13156 John Mon, 08 Dec 2008 15:00:58 +0000 http://www.theessentialsoftrading.com/Blog/?p=714#comment-13156 Jeffrey, I am not familiar with the specifics of Mike's methodology, so I cannot speak on that subject. (but encourage others who might have some knowledge on the subject to do so). As for your questions about the price distribution charting (which indeed is sometimes called 'Market Profile'), I have addressed them in a new post: <a href="http://www.theessentialsoftrading.com/Blog/index.php/2008/12/08/markets-and-timeframes-for-price-distribution-charting/" rel="nofollow">Markets and timeframes for price distribution charting</a>. Your questions regarding The Essentials of Trading will be answered in a post tomorrow. Hope that helps, John Jeffrey,

I am not familiar with the specifics of Mike’s methodology, so I cannot speak on that subject. (but encourage others who might have some knowledge on the subject to do so).

As for your questions about the price distribution charting (which indeed is sometimes called ‘Market Profile’), I have addressed them in a new post: Markets and timeframes for price distribution charting.

Your questions regarding The Essentials of Trading will be answered in a post tomorrow.

Hope that helps,

John

]]> By: Jeffrey Sim http://theessentialsoftrading.com/Blog/index.php/2008/12/05/how-to-identify-price-targets-for-your-trades/#comment-13148 Jeffrey Sim Sat, 06 Dec 2008 17:42:51 +0000 http://www.theessentialsoftrading.com/Blog/?p=714#comment-13148 Hi John, I enjoyed the article very much. I have been using the tool that you have desribed about in this article. I think it is called Market Profile, with specified LUA( Lower Value Area), UVA( Upper Value Area) and POC(Price OF Control) areas. Never really knows what all these terms mean and the application of it is also murky. Anyway, can this tool be implemented into a trading system/methodology ? I noticed that you have a link on Mike Reed's website(www.tradestalker.com). I am currently daytrading using Mike's setups. (1) Can this tool be implemented into Mike's setups? (2) Can this tool be implemented in swing trade? If yes, which markets are more suitable? If I am keen in the Forex markets, then which currency pair is more sutiable? What about commodity markets like mini gold futures etc ? (3) What about applying this method on US stock markets , maybe certain stocks with the appropriate options to swing trade, after considering the month of expiration, B/A spread, IV of options etc.. (4) Lastly, can this tool be applied to Asian markets, like Nikkei or even Singapor's small futures market, the SIMSCI futures. I can only daytrade Mike's method in the 1st hour to at most 2 hours as I am staying in Singapore and due to time difference. (5) What is the key or important concept(s) covered in Essentials of Trading (ET) ? Do you revealed any trading setups or methods for any specific markets ?Can the concepts taught be applied into any trading system/methods etc. I am only daytrading for an income daily ( 2 - 4 ES points daily). I believed that building wealth through position and swing trade is much easier on the heart and emotions though many may beg to differ. Thank you for your precious time. I enjoyed reading your articles vey much. My vision is to leave my day job and trade for a living by 2010-2011. Haven't much success for the last 3 years and am working hard on it. Jeffrey Singapore Hi John,

I enjoyed the article very much. I have been using the tool that you have desribed about in this article. I think it is called Market Profile, with specified LUA( Lower Value Area), UVA( Upper Value Area) and POC(Price OF Control) areas.

Never really knows what all these terms mean and the application of it is also murky.

Anyway, can this tool be implemented into a trading system/methodology ?
I noticed that you have a link on Mike Reed’s website(www.tradestalker.com).

I am currently daytrading using Mike’s setups.
(1) Can this tool be implemented into Mike’s setups?
(2) Can this tool be implemented in swing trade? If yes, which markets are more
suitable? If I am keen in the Forex markets, then which currency pair is more
sutiable? What about commodity markets like mini gold futures etc ?
(3) What about applying this method on US stock markets , maybe certain stocks
with the appropriate options to swing trade, after considering the month of
expiration, B/A spread, IV of options etc..
(4) Lastly, can this tool be applied to Asian markets, like Nikkei or even
Singapor’s small futures market, the SIMSCI futures. I can only daytrade
Mike’s method in the 1st hour to at most 2 hours as I am staying in Singapore
and due to time difference.
(5) What is the key or important concept(s) covered in Essentials of Trading
(ET) ? Do you revealed any trading setups or methods for any specific
markets ?Can the concepts taught be applied into any trading
system/methods etc. I am only daytrading for an income daily ( 2 – 4 ES points
daily). I believed that building wealth through position and swing trade is
much easier on the heart and emotions though many may beg to differ.

Thank you for your precious time. I enjoyed reading your articles vey much. My vision is to leave my day job and trade for a living by 2010-2011. Haven’t much success for the last 3 years and am working hard on it.

Jeffrey
Singapore

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