JPJ Trading
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From Members
The Culture and Rule of the JPJ Trading Room
written by the membership
Preparation and Reference Tools

Everybody in the room is asked to read" Mind Over Markets" and "Markets In
Profile".
Vegas Seminar 2010

Give a man a fish you feed him for a day, Teach a man to fish you feed him for a lifetime!

 

The Culture and Rules of the JPJ Trading Room 1/30/06

 

Written by the membership

 

Preparation and Reference Tools

 

Everybody in the room has read one or both of the 2 books listed below. You might acquire Mind over Markets first and read it for the first time asap, youll end up reading it again. If you are serious about Market Profile you must do this.

 

Mind over Markets

http://www.amazon.com/gp/product/0934380538/qid=1138661040/sr=2-1/ref=pd_bbs_b_2_1/102-1448873-8810501?s=books&v=glance&n=283155

 

Steidlmayer on Markets

 

http://www.amazon.com/gp/product/0471215562/ref=pd_bxgy_text_b/102-1448873-8810501?%5Fencoding=UTF8

                       " Field Of Vision" by Jim Dalton

 

Members Websites

Everybody in the room has made themselves familiar with the content of 2 websites operated by room members as a service to all. Drill down and look around in each, there is lots of links to Jps teaching and market profile resources.

http://www.trading-naked.com/MarketProfileToday.htm

 

http://www.deltat1.com/DailyNotes/dailynotes.aspx

 

The Need for a Market Profile charting platform

 

The majority of room members use IRT or Market Delta which  fully supports market profile screens and tools. Many use Trade Station and there is a member who has developed easy language indicators the allow you to emulate Market Profile displays. Market Profile is very visual, you must have appropriate charting software. If you need help, post, somebody will help you out


 

MP  language

As an experienced trader, you have embraced some charting framework and tools to observe price as it auctions within its daily range. Market Profile is very different with its own language. It will take time, so observe, listen, read the book, it will become natural.

 

Culture and Camaraderie

If you take the first week and just listen you will be exposed to the culture and manners of the room.

 JP operates the room because he loves it. The room replaces the camaraderie of the Pits.

He sets the tone for jokes and comments, there are several ladies in the room,. conduct yourself accordingly.

Best to avoid politics and religion. Treat all with respect. The room has an in house disc jockey who provides a musical trading sound track when appropriate.

 

Its a process

We all remember our first weeks in the room . We each absorb the Market Profile concepts and perspectives in our own way, at our own speed, with our own baggage.

 It takes time, repetition and effort. Be patient dont try to trade it in the first few weeks.

Simulate before you speculate.

 Jps classes last 3 months because to become confidently fluent in MP , it takes that long.


 

 

 

 

 

Market Profile is a registered traded mark of CBOT (Chicago Board of Trade

 

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