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1、ReprintedfromTechnicalAnalysisofSTOCKS&COMMODITIESmagazine.©2002TechnicalAnalysisInc.,(800)832-4642,http://www.traders.comTRADINGTECHNIQUESINTHEORYMarketProfileTheconceptofMarketProfilestemsfromtheideathatmarketshaveaformoforganizationdeterminedbytime,price,andvolume.Eachday,themarketwilld
2、eveloparangeBasicsforthedayandavaluearea,whichrepresentsanequilibriumpointwherethereareanequalnumberofbuyersandsellers.Inthisarea,pricesneverstaystagnant.Theyareconstantlydiverging,andMarketProfilerecordsthisactivityfortraderstointerpret.Everyoff-floortraderwouldliketogetafeelforhowthingsM
3、arketProfileisbasedonthenormaldistributioncurve,reallyareontheexchangefloor.MasteringMarketProfilewhereinapproximately70%ofthevaluesfallwithinonemayhelpyougetit.DISTRIBUTIONCURVEbyJayanthiGopalakrishnanPricesaboveorriedthatyou’llneverbevalueabletocompetewiththefloortraders?Afterall,they’re
4、rightthereintheVALUEAREAmiddleoftheaction.Where70%WVolumeThey’reprivytoinform-oftradesationthatoff-floortradersPRICEtakeplace.seelateormaybenever.OnceyoustartusingMarketProfile,however,youmayfindyourselfwithPricesmoreinformationthanthebelowvaluefloortrader.Nolongerwillfloortraders,deckedou
5、tTIMEintheircoloredjackets,franticallygesturingandscramblingtomakethemselvesheardandseenbyothertraders,seemFIGURE1:MARKETPROFILESTRUCTURE.Thechaotic,intimidating,orbizarre.Instead,withtheuseofstructureofMarketProfilefollowsthatofanormaldistributioncurveofpriceoccurrences.MarketProfile,youw
6、illseetheorderinthemarkets.J.PeterSteidlmayerdevelopedMarketProfileinthe1980sinconjunctionwiththeChicagoBoardofTrade.Traderswhostandarddeviationoftheaverage.Ifyourotatethenormaluseitsaythattheygetanin-depthunderstandingofthedistributioncurvesothatpriceisalongtheverticalaxisandmarket,contri
7、butingtoimprovedtrading.Manyfactorscantimeonthehorizontalaxis(asshowninFigure1),youhavebemonitoredfromMarketProfile.thestructureofMarketProfile.MarketProfileisnotanindicatorinthetypicalsense.ItAnormaldistributioncurveassumesthatthenumberofdoesnotprovidebuy/sel
