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What is TPO Market Profile?
TPO is time price opprtunity and it is a simple concept with profound implications.The chart on which these TPOs are plotted are called as Market Profile Charts. At the end of the day market profile is just a charting system.
It is just another way of organising data, simlar to a bar or a candle chart. May be you will find the point and figure charting tool similar to a market profile chart. There are of course some key disticntions between these different types of charts and specific reasons why you should choose one over another. The main point is the amount and quality of information evry chart type reveals.
More is not always better, the best tool is the one which gives you only pertinent information and prevents you from forming a bias which will hinder your trading decision making in uncertain environments. We have discussed this topic in great detail in the DTF membership.
Who invented Market Profile?
Market Profile was invented by Peter Steidlmayer when he was working with CBOE. Due the huge amount of work put in and the popularity of Jim Dalton many wrongly attribute him with discovering market profile charts. It was Peter who found them and then intoduced Jim to this fantastic tool.
Jim later on in his almost half a century long career found out creative ways of using this tool. He showed us the way to use Market Profile to impove our market understanding. While many stil look at market profile as a trading system with entry and exit rules, its primary purpose is to help us improve our market understanding.
All credit goes to Peter and Jim for making it a viable pursuit and I guarantee you wont be disappointed in pursuing Market Profile as your primary trading tool.But an open mind is required for that. If you bring an open mind you will find everyhting you need to become a good market profile trader at the DTF membership…
Market Profile Indicator
One of the most asked questions I get is “How do I get free market profile charts?” and of course there are websites that do provide them for free.
But as you progress in your journey towards consistent trading profitability, reliablity of your tools as well as their functionality matters a great deal. In the DTF course I have included a detailed review of the charting software I use as well as the exact settings I am using. You can copythe exact same templates and get on your way.
What is Market Profile Trading Strategy?
More often than not retail traders like to put any trading method into a set of well defined rules to follow. They will then try to adhere to these rules and take trades. No system or set of rules will work all the time in the markets and when these set of rules fail a trader he ends up blaming the rules, modifying them and abandoning them altogether. Then moves on in the search of a new set of rules.
Market profile basically reveals hidden information in the markets by means of a number of structural formation on the charts. Since it is easier to sell a trading system than a thought process, manyu people have started selling these structural formations as trading systems. Obviously they wont work in the long term.
Our approach is a little different we use a set of tools that support the markeet profile charts and help you take a trading decision in the markets. But a decision will almost always come at the end of a subjective process. So not everyone will get the same information from the charts and the same trading decisions. But since every trader is different their decisions must be different too.
That is what makes the gamne of trading so interesting. So we do cover in detail the thought process which will lead to a decision, but we wont be covering any trade setups or patterns to follow in the markets.
Is Market Profile difficult to learn?
Not at all, but the most difficult part is not learning something new. It is unlearning your previous beliefs which are not seving you well. I understand it is difficult, but the faster you unlearn old habits the faster you will learn new things.
So market profile is not difficult but it is certainly different from other more conventional technical analysis tools. I urge you to give it a try and with the DTF membership your learning as well as the unlearning curve will be shortened drastically.
Dean Trading Framework
Dean Trading Framework helps you learn powerful tools that can take your trading to next level in a systematic manner. The content is arranged in a logical sequence to help you make the most of it.
The topics included are…
- Advanced Technical Analysis Course English & Hindi
- Market Profile Course English & Hindi
- Order Flow Course English & Hindi
- Volume Spread Analysis Course English & Hindi
- Detailed discussion on the software I use and its settings…
- Special offers on the software I use…
There is much more to this topic of trading and we cover it in great detail in the DTF Membership. So if you are curious and want to bring consistent profitability in your trading consider subscribing to our quarterly membership…
Free Dean Trading Framework Masterclass
To know more about how the Dean Trading Framework works enrol for a free masterclass on DTF Membership. You will learn all about the membership here, answers to common questions like…
- What topics are included in the membership?
- How is the content delivered?
- How the queries and questions are handled?
- How long will you have access to the content?
- What happens when your membership expires?
- What about the new content that is added during your membership?
- And many many more…