Today I reviewed Market Profile or should I say Volume profile as (the) method of my choice for trading.
I am not sold on it yet, though I quick glance at a birds eye view of a chart shows where price likes to be or has been and is now. Or as they say - The balance areas/ imbalance.
I am looking at this Supply and Demand thing also, but I think the (art) of finding the levels may take some time and still remains (art) which is something I was hoping to avoid.
This is a list of the (other) methods I need to consider or not.
Tim Morge- Median Lines -Andrew forks
Ryan Watts- as scalping method that worked when the market had more swings per day
Alexander Elder- 3 time frame channel/macd method
Tim Deel- box trading- price action
Trisha -easy emini she seems to change her set ups alot her newest thing is footprint
Sam Seiden - supply and demand
Tony - T channel a indicator method that as usual dint work well in chop
Al Brooks- price action-
I am sure there are more but do I really care- not really
It is always about price - it goes up or down or ranges. I find the indicators lag . while they tend to divide the market into above or below, they usually signal entries in the middle of a move. finding a way enter at the end of the swings would be ideal, but then that is looking for perfection. I will settle for something that make the wins more profitable than the losing trades. Then again it is not the entry method so much as the execution and management of the trade when in.
And while I can read the price action and prefer using it only, it too is an (art) But I have noticed that pro traders use past human behavior along with there confidence in that (art) to be successful at their trade. I must learn to be confident in my own read and what I know I can do. I must mentally take the amount of fear that I have and transform it into confidence. Till I ooze with it.
If trading is 90% mental then that is where I will spend most of my time and only 10 % on the method.
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