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Marketprofile 102
Presented by:
Alexander Benjamin
Sponsored by the MarketVu Show
NOTE: Futures and options trading are speculative and involve risk of loss. The information in this seminar is taken from sources believed to be reliable. It is intended for information and education only and is not guaranteed by the CBOT as to accuracy, completeness, nor any trading result. It is not intended as investment advice, nor does CBOT endorse or support any product or service represented in the presentation. The views and opinions offered by individuals or their associated firms in interactive seminars are solely those of the authors, and do not necessarily represent the views of the Chicago Board of Trade. The Rules & Regulations of the CBOT remain the authoritative source on all current contract specifications & regulations. "Dow Jones," "The Dow," "Dow Jones Industrial Average," and "DJIA" are service marks of Dow Jones & Company, Inc. and have been licensed for use for certain purposes by the Board of Trade of the City of Chicago (CBOT). The CBOT's futures and futures-options contracts based on the Dow Jones Industrial Average are not sponsored, endorsed, sold, or promoted by Dow Jones, and Dow Jones makes no representation regarding the advisability of trading in such products. Information provided is taken from sources believed to be reliable but is not guaranteed as to its accuracy or completeness. The Rules and Regulations of the Chicago Board of Trade should be consulted as the authoritative source for information, rules, and contract specifications.
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Marketprofile 102
Alexander Benjamin
September 7, 2005
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COPYRIGHT Trademarks, Service marks and Trade Names where applicable are recognised
Alex Benjamin
began trading in 1975, trading multi currency Eurobonds for Grieveson, Grant & co. 1978 employed by Euroseas Securities of Qatar as a Eurobond market maker moving on in 1979 to PrivatBanken of Denmark as an Assistant Mutual Fund trader. 1981 joined Arab International Finance a Luxembourg based investment bank as head of fixed income trading. 1984 requested by Banque Nationale de Paris (BNP) to run a Government Bond arbitrage division. 1990 Chemical Bank, Frankfurt head hunted Alex to run the Futures Trading division. 1991 applied for a work visa from The U.S. Immigration authorities who granted this in June 1991 and Alex developed in conjunction with MP a proprietary trading module trading futures contracts globally based out of Chicago. 1992 Cantor Fitzgerald Inc requested Alex to return to London and subsequently move to Paris to organize its role in French Government Bond trading. 1995 Cargill Inc requested Alex to run its futures execution broking desk in London until September 2001 when Tradition Securities & Futures asked Alex to join its global futures execution division. January 2004 Alex returned to his proprietary trading module and is based in United Kingdom managing ALT Capital Management LLC as a CTA and running http//:www.tradingclinic.com as his portal website He has been affiliated with or consulted in a broking capacity for many of the largest Hedge Funds mainly based in or around New York. Alex graduated from Sorbonne University with a B.A. degree in Economics specializing in statistics in 1973.
MP 102
you just do not know what is around the next corner, or even where the corner is. The more I study the MP and LDB, the more it makes sense to me, and the more that I think to trade without it. is like walking into a cave without a flashlight
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MP 102
MP101 looked at the setup, organisational structure and the different types of days that unfold within distributions MP201 will expand on the different types of days and look at a complete distribution to see how it gets put together to look at the Longer Term Timeframe dominance and its influence on the Shorter Term Timeframe We shall try to extrapolate MP price targets that will allow a degree of probability into ones thinking and therefore help with trade entry and trade location
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MP 102
What is MP
A dynamic analysis that evaluates the market on the volume of trades at each price point during the session constantly evolving with the changing market Price + Time = Volume but more correctly Value By definition Value = 68.24% of Volume
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MP 102
Decision Support Tool Anticipation rather than Prediction Probabilities Analysing the present in real time to be able to better understand the future
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MP 102
4 Steps of Market activity
Move vertically Stop Distribute around a mean often meaning a secondary test of 1 Revert to the mean
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MP 102
The market auctions up until there are no more buyers AND down until there are no more sellers
In other words price rallies to shut off the buying and drops to shut off the selling
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MP 102
Initial Balance Daily Chart = First 60 minutes Weekly Chart = First 2 days Monthly Chart = First 2 Months Stocks MP year = Calendar Basis Bonds the exception MP year = Feb/May/Aug/Nov Quartile
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MP 102
So how to measure? Normal Variation Day = look to double and sometimes treble the IB Neutral Day = look for the symmetry of rotation from one side of IB to the other side
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MP 102 - Books
J. Peter Steidlmayer
A journey through Trading Discoveries
James Dalton
Mind over Markets
Go to: http://www.tradingclinic.com and log into the MP references page where you will find a huge library on Market Profile
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MP 102 - Books
CBOT
http://www.cbot.com/cbot/docs/handbook.pdf
Donald L Jones
Value Based Power Trading
http://www.ciscofutures.com/vbpt/VALUEBASED_POWER_PRINT.pdf
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Alex Benjamin
Who is he?
ALT Capital Management LLC Trading Clinic Limited P.O. Box 93 , TN10 4JX United Kingdom Tel: 011 44 7880 600 349
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