Is anyone still bullish?

[gspiker]

Hi Marc,

Thanks for the info. I don't use TJ web, as it doesn't really speak to me in any meaningful way (as you know, some indicators work well with some traders and not with others - TJ doesn't doesn't speak to me).

On the other hand, I am really happy with my trade. I'm a bit sorry I entered a day early...but I knew that might happen and since I couldn't be there the following day, I had to make a choice to play it or not.

Today's action was so predictable that it allowed me to take some money off the table and reenter again (on the 15 min AGET stoch cross) to be back at a full position.

For daily trades I use stops based on strong resistance levels off the daily charts. Today if we had closed near the highs it would have taken me out, or if we had spiked up to 994.00.

[Harndog]

Trade Profile

Marcus:
Please talk more about Trade Profile.
Thank you,
Harndog

[MR]

Hi Harndog,

AGET TRADE PROFILE--

'Trade Profile' is a proprietary AGET study designed as an internal data scan to identify areas of previous buying and selling. These levels are then displayed as simple buy and/or sell levels, or focal points. Traders should focus on 'thick' and 'longer' levels. Thick levels are high volume areas; longer levels are high price movement areas.

The theory states when a current price hits a previous sell level we anticipate with higher confidence more selling should again return to this area. When a price hits a previous buy level, we anticipate buying to come in or continue.

Another premise behind this tool: a trader who sells at a sell level may be stopped out of a short position if this sell level is violated. We can anticipate with higher confidence if this sell level stays violated it provides additional fuel for a rally. If traders buy at a buy level they may be stopped out of their position if this buy level is violated. If it stays violated it provides additional evidence a decline continues.

Here is what I think is the tricky part. If a price fails to hold a previous sell level, the previous sell level becomes support. This provides a base for further rally attempts. Equally, if a price fails to hold a previous buy level, the previous buy level becomes a resistance area. It serves as a springboard for further sell attempts.

One objection I have with Trade Profile-- buy and sell levels show up and disappear with little or no warning. It is difficult to anticipate well in advance when, where, and sometimes how to really interpret these buy or sell levels.

The biggest concern I have is monitoring Trade Profile on very short or day-trade time frames. That is when Trade Profile buy or sell identification can really change quickly with little warning. One moment it is there, later it disappears. It is possible to change some of the Trade Profile settings and gather the new information to fit the data better, but who can determine which setting is most appropriate for that action? I cannot easily discern which setting is most appropriate after using it for many years. The slow price change dynamics for a daily, weekly or monthly chart is helpful when monitoring Trade Profile.

Trade Profile is an algorithm based on a calculation of volume and previous key price movements.

Consider Trade Profile a nice secondary, supportive type study tool. It is hard to strategize and make good trade decisions well in advance if you are using just Trade Profile to make a trade decision. Yet-- on the other hand-- Trade Profile is well respected enough to help fine-tune an existing trading setup decision when other tools and studies already are applied.

Don’t be afraid to use Trade Profile. It really does have some very attractive qualities. It is simple and easy to use. It quickly points out higher probability buy and sell areas.

(The hourly chart below shows a chart relating to an earlier idea.)

I hope this helps better explain the eSignal ‘Trade Profile’ study, an AGET add-on feature.

[donv]

[QUOTE]The downside is with variable data it can change very quickly with no warning. One moment it is there, then it is gone.





Marc, not quite sure what you mean by the above statement.

donv

[MR]

Did I say that? Sorry, I have a form of dyslexia where I get goofy with words when not getting enough sleep .... wil edit it now to make more sense.
- - - - - - -

We use to call "variable data" any chart time frame below a daily where you could type in any number and look at that time increment. For example, we tend to look at uniformed and incremental variable time frames such as an hourly chart or shorter time frames such as a 30, 45, 15, 5, 1. But some traders look at weird time frames, such as say a 8, 180, 89 or 90, 38, or some other unusual number time. That is where the 'variablity' comes in more, which is what I was mostly referring to previously.

The key here is the shorter the time frame the more dynamic the price movement and behavior. If you are looking at say a 15 or a 5 minute chart within two days or less it can become a totally different picture. This is why cross referencing is very helpful.

That is basically all I meant. Does this make more sense? Sorry for the confusion.

[gspiker]

Marc,

Thanks for the info on trade profile. Never played with it before. Looks interesting.

G

[gspiker]

I notice that my links to my images never showed up in my post yesterday...so I just fixed that. They should show up now.

G

[MR]

Hey Garth,

Read it again later today... I am editing it again soon and will be improving on this explanation later today... sometimes i struggle with correct english, syntax, diction and such. It might make more sense later today.

[donv]

Marc,

that cleared it up, I suspected that's what you meant anyway

Is trade profile better used similar to TJ webs, where you issue the study on higher time-frame then reissue chart on trading time-frame.

At the cleveland seminar in 2001 TJ introduced "bid ask profile" and indicated it was designed to replace "trade profile", I've never used it since it was only upgraded to the e-signal version. Never hear much about "bid ask profile" any more is it still being used?

donv

[MR]

Hi,

Just wanted to follow-up on yesterdays comments... we closed out our positions in the morning for breakeven when there was no follow-through gap lower open.....

Since we started a highlight on the AGET Trade Profile tool wanted to take the same chart and point out how there was a 'long' blue buy level yesterday and I chose to ignore it, and it was holding at a general MOB and lower TJ's Web Neutral Zone.

Guess what happened today in QQQ hourly? it rallies and closes at the RA level but still below the Red Trade Profile sell area. Wish I were as smart as my charts. Oh well. Comments on the chart below illustrates the last two day example.

Will try to follow up more later... marc

[fabrizio]

Marc

Guess what happened today in QQQ hourly? it rallies and closes at the RA level but still below the Red Trade Profile sell area. Wish I were as smart as my charts. Oh well. Comments on the chart below illustrates the last two day example.

.....haven't you today the mob and the RED selling thick bar to bounce aginst and rev. plus the mid point of the ellipse right on the mob......$$$$?

Thank you Sir, I'm Going to short this QQQ ( maybe....)

Ciao

Fabrizio

oops forgetting the RA holding it....

[MR]

Fabrizio,

Here is a quick update of today's action. Up to MOB, down to Normal Ellipse (calc'd from bottom to immediate last top), drifting up to Trade Profile Red sell before close. Mostly this is an update for continuity sake. Take care, see you tomorrow,