How To Use Market Profile in Intraday Trading?
Intraday Trading is the most debated and misunderstood topic in the trading community.
The best place to lose money in the stock market is Intraday Trading.
Intraday Trading is misunderstood!
I understand why — it’s a complex game with lots of conflicting advice.
Here’s the good news.
If you understand Market Profile and its core concepts, you can do better in Intraday Trading!
Market Profile is a technical concept with a unique charting technique developed by Peter Steidlmayer when trading at the Chicago Board of Trade (CBOT), and it was open to the public in 1985.
Market profile is a style of plotting “Price” on the Y-axis and “Time” on the X-axis, which most of the time form a bell-shaped image as the body of the profile.
It helps day traders identify Other Timeframe Participants (Big players) who have money and information power. Our job as short-term traders is to follow these big sharks which give direction to markets.
Why Market Profile?
Market profile assists the short term traders to read the current market trends as it unfolds. It considers the latest market data as it comes and provides an excellent price, time…
