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I started out in 1981 as a runner then phone clerk, desk manager, arbitrage clerk worked my way up to a broker.
Then in 1983 I went on my own as a local, I spent my entire adult life on the floor of the Chicago exchanges as a scalper and with the advent of electronic trading I realized that the playing field had changed and so, now I had to change my style of trading, I took a second look at Market Profile and I became a student of it.
It paid off!
Peter J. Stedilmier is a genius in my opinion!
He found a way to 'listen to the floor' and I am listening!
Now I trade from my home in Northern Michigan and I must say I do not miss the early morning commute into Chicago. My style of trading now allows me to stay in the trade longer ,capturing as much of the days range that I can.
My Transition from the pit to the screen was not without challenges when I traded in the pit I was purely a scalper working each bid and offer for the "edge". When I moved to the screen I found there was no "edge" and I found myself in a level playing field and I soon realized that the game had changed and so now I too had to change.
At first I tried indicators without much success so, then I gave Market Profile another look and that proved to be the ticket. The profile allows me to see who is in control and when they may be losing control thus allowing me to take advantage of prime trade location. Trading this style has taught me how to stay in the trade longer and maximize my gains. I know that there is no "Holy Grail" for trading but, Market Profile in my opinion is runner-up.
Market Profile ® is a registered traded mark of CBOT (Chicago Board of Trade) |