Wednesday, May 27, 2009

A Look at the Current Market Conditon

Hi guys,
I had to give a big presentation this evening, so I didn't have time to prepare anything for you. I have lots of things on my mind that I am looking for to share though.

Tonight's post is a view 5 day market prepared by Bill Duryea of IOAMT. Thanks Bill. I think it gives a really nice look at the current market condition. I added the Single print at 904.50 from today. It was the first (and most important) breakout. It also has some nice Supply above it. As I have mentioned many times before, these are the ones I really like and watch out for. Let's see what happens.

Take care and be well,

MG

2 comments:

  1. Hello Bryan
    I am just looking into various MP courses and wondered if you could offer any advice. I know you trained with JPJ, but you also have good words to say about Reza at Profile Traders, and you link IOAMT on your website.
    Many thanks
    Mark

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  2. Mark,
    My advice, in a nut shell, is check them all out if you can. They all trade very differently and apply MP principles in their own ways.

    I haven't been in Reza's room but his boot camp was quite good and he does show many of his setups. I am a grandfathered member of JP's room. I have learned so much from him and also from many members of his room. He has some really good traders in there.

    I have been in the IOAMT room for the past 4 months. I have learned so much from Bill Duryea.
    He is very challenging, but that is what most of us traders need - someone, to really push us to work at our craft.

    Kam Dhardwar of L2ST has a nice room. I visited last week and picked up some new tricks. Watch his video on the Market Delta blog on Market Profile.

    Also, read Dalton's and Steidlmayer's books over and over. It takes most of us a really long time for this approach to become second nature. Reading this material is not enough. We must constantly observe the market in the context of this teaching. In time, it will become second nature - and make total sense.

    Also, Traders Laboratory Forum has lots of people interested in MP. There is lots of free info there.

    I hope this helps. Feel free to ask me more detailed questions on this if you like. I'm glad to help.

    MG

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