{"id":53410,"date":"2016-05-22T04:00:25","date_gmt":"2016-05-22T11:00:25","guid":{"rendered":"https:\/\/brookstradingcourse.com\/?p=53410"},"modified":"2016-11-01T22:48:54","modified_gmt":"2016-11-02T05:48:54","slug":"market-profile-trading","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/ask-al\/market-profile-trading\/","title":{"rendered":"Ask Al: Market profile for trading"},"content":{"rendered":"

BPA trading room Q&A: March 30, 2016<\/h2>\n

Market profile<\/em> is a popular trading system for many and Al was asked whether or not he uses it in his trading.
\n Audio duration: 4min 12secs<\/em><\/p>\n

 <\/p>\n

Market profile not for everyone!<\/h3>\n

\"Market<\/a>Somebody asked about market profile. Do I use market profile in my trading?\u00a0 I spent a week with Peter Steidlmayer back — I think 1988 or something, early on.\u00a0 He was getting a lot of publicity then about market profile trading.\u00a0 I think it\u2019s a stupid idea, and I probably lost $3,000 trading that week.\u00a0 I don\u2019t remember. I lost a lot of money.\u00a0 And he was standing right there over my shoulder, and I just think it\u2019s a dumb idea.\u00a0 I think it\u2019s a bad way to portray price action.<\/p>\n

There are many ways to portray it. You can use point and figure charts that portrays it; you can use a line chart; you can use a dot chart. To me, most traders use some form of candle charts.\u00a0 Institutional traders — a lot of them use just line charts.\u00a0 You can use a DOM; that portrays price action as well.\u00a0 But I personally think market profile — you\u2019ll lose money if you do it.\u00a0 To me, I say this — and I apologize in advance:\u00a0 It\u2019s so easy to make money off a five-minute chart that — a day like this, I probably see 40, 50, 60 trades on a day like this.\u00a0 Obviously, I don\u2019t take them all, but why would I ever use anything else?\u00a0 Where else can I see that many trades?\u00a0 I know Richard is listening in and he likes using the DOM (Depth of Market)<\/a>, but I see far more things on a five-minute chart than I could ever see on the DOM or any other kind of chart.\u00a0 Just listen to me all day long; I\u2019m just talking about what the market is telling me it\u2019s probably going to do.\u00a0<\/p>\n

If market profile works for you…<\/h3>\n

So let me say one other thing about market profile<\/a>. If a person likes using the market profile chart and if a person\u2019s consistently making money and they\u2019re really happy doing it, I think they should do it.\u00a0 I think if a person likes indicators, or bands, or tick charts, or volume charts, or one-minute charts, or 15-second charts, or hour charts, and they\u2019re happy, and they\u2019re consistently making money, they should do it.\u00a0 If they like oscillators, same thing, right.\u00a0 To me, if you\u2019re making money as a trader, you deserve admiration and respect because you\u2019re doing a wonderful thing.\u00a0 You\u2019re doing something hard and you\u2019re doing it really well, and then if you\u2019re happy doing it, that\u2019s even so much better.<\/p>\n

If this is your career, you have to like what you\u2019re doing. You have to come into the day every day.\u00a0 You just can\u2019t wait to get started.\u00a0 So part of what you do as a trader is you explore; you try different things; you try market profile; you try indicators; you try one-minute charts; you try 60-minute charts, but you just got to find where you\u2019re comfortable and you got to find where you can make money.\u00a0 However, to me it does not matter what you do.<\/p>\n

Make money doing what you love<\/h3>\n

\"Synchronized<\/a>

Two Legs Up?<\/p><\/div>I talked to you about what I do. This is my personality. However, anybody who consistently makes money deserves a lot of admiration in anything.\u00a0 If you own a commercial cleaning business and you have guys emptying trash cans at night, if you do a really good job you deserve a lot of admiration.\u00a0 And if I had an office building, I\u2019d want to hire you.\u00a0 You would make me happy.\u00a0 You would be making my life easier.\u00a0 So anybody who does anything well — synchronized swimming, one of the dumbest sports in the world — if somebody does it really well, I\u2019m going to admire what they\u2019re doing.\u00a0 It doesn\u2019t matter.\u00a0 If anybody\u2019s doing anything well, I\u2019m going to admire it because it takes a lot of hard work to do something well, and if it makes you happy — and if you\u2019re doing anything well, just about anything in life, people will pay you.\u00a0 There will be enough people out there, there will be enough demand for anything.\u00a0 So if you do anything well in life — run a restaurant, run a dry cleaner, a grocery store, a shoe repair shop — anything, it doesn\u2019t matter — a website — if you do it well, people are going to pay you.\u00a0 You\u2019re providing a service and you\u2019re — to me, you\u2019re a valuable member of society.\u00a0<\/p>\n

So back to trading, if you use market profile, or bands, or any indicators or anything, and you\u2019re consistently making money, and you\u2019re happy, what else can you ask for from a career? That\u2019s your goal.\u00a0 Find something that you like and have it be very profitable.\u00a0<\/p>\n

Al Brooks<\/em><\/p>\n

Information on Al’s Online day trading room<\/a><\/p>\n

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BPA trading room Q&A: March 30, 2016 Market profile is a popular trading system for many and Al was asked whether or not he uses it in his trading. Audio duration: 4min 12secs   Market profile not for everyone! Somebody asked about market profile. Do I use market profile in my trading?\u00a0 I spent a […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[159],"tags":[],"class_list":{"0":"post-53410","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-ask-al","7":"entry","8":"has-post-thumbnail","9":"override"},"featured_image_src":null,"author_info":{"display_name":"BTC Admin","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/richardhk\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/53410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=53410"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/53410\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=53410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=53410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=53410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}