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A timely update to the book on using the Market Profile
method to trade
Emerging over twenty years ago, Market Profile analysis
continues to realize a strong following among active traders. The
approach explains the underlying dynamics and structure of markets,
identifies value areas, price rejection points, and measures the
strength of buyers and sellers. Unlike more conventional forms of
technical analysis, Market Profile is an all-encompassing approach,
and Mind Over Markets, Updated Edition provides traders
with a solid understanding of it.
Since the first edition of Mind Over
Markets--considered the best book on applying Market
Profile analysis to trading--was published over a decade ago,
much has changed in the worlds of finance and investing. That's why
James Dalton, a pioneer in the popularization of Market Profile,
has returned with a new edition of this essential guide. Written to
reflect today's dynamic market conditions, Mind Over
Markets, Updated Edition clearly puts this unique method
of interpreting market behavior and identifying trading/investment
opportunities in perspective.
Includes new chapters on Market Profile-based trading
strategies, using Market Profile in connection with other market
indicators, and much more
Explains how the Market Profile approach has evolved over the
past twenty-five years and how it is used by contemporary
traders
Written by a leading educator and authority on the Market
Profile
One of the key elements that has long separated successful
traders from the rest is their intuitive understanding that time
regulates all financial opportunities. The ability to record price
information according to time has unleashed huge amounts of useful
market information. Mind Over Markets, Updated Edition
will show you how to profitably put this information to work for
you.
Autorentext
JAMES F. DALTON has been a pioneer in the popularization
of the Market Profile, a unique method of identifying
trading/investment opportunities. He has been involved in the stock
and futures markets for more than forty years. Currently a
full-time trader, Jim advises two hedge funds and several trading
firms. He is a discretionary trader and longtime proponent of
employing the Market Profile to facilitate trading. Jim began his
career in the investment industry as a broker with Merrill Lynch
and Shearson Lehman. He is the coauthor of two books, the original
edition of Mind Over Markets and Markets in Profile
(Wiley).
ERIC T. JONES is a Senior Managing Director and Head of
Advisory Solutions and Product Development at TIAA-CREF. His past
experience includes more than twenty-five years of developing new
investment products and programs designed to help individual
investors more successfully achieve their financial goals and
dreams. Eric is the coauthor of two other books on the financial
markets, investments, and trading: Hedging Foreign Exchange
and Markets in Profile (both from Wiley).
ROBERT B. DALTON is a partner at Karass Creative, a
Seattle agency that bonds brands to tribes by telling stories that
matter. For two decades, he has woven compelling campaigns across
myriad media--from Addy-winning websites to short films and
poetry--for a long list of artistic, nonprofit, and corporate
clients ranging from Starbucks to TEDx. He is the coauthor of
Markets in Profile (Wiley).
Zusammenfassung
A timely update to the book on using the Market Profile method to trade
Emerging over twenty years ago, Market Profile analysis continues to realize a strong following among active traders. The approach explains the underlying dynamics and structure of markets, identifies value areas, price rejection points, and measures the strength of buyers and sellers. Unlike more conventional forms of technical analysis, Market Profile is an all-encompassing approach, and Mind Over Markets, Updated Edition provides traders with a solid understanding of it.
Since the first edition of Mind Over Markets*considered the best book on applying Market Profile analysis to tradingwas published over a decade ago, much has changed in the worlds of finance and investing. That's why James Dalton, a pioneer in the popularization of Market Profile, has returned with a new edition of this essential guide. Written to reflect today's dynamic market conditions, *Mind Over Markets, Updated Edition clearly puts this unique method of interpreting market behavior and identifying trading/investment opportunities in perspective.
Inhalt
Preface xiii
Acknowledgments xvii
Chapter 1 Introduction 1
Chapter 2 Novice 7
Laying the Foundation 9
The Auction 9
Organizing the Day 10
Challenging the Rules 15
The Role of the Marketplace 16
Going with the Crowd 17
Introduction to Day Timeframe Structure 19
Normal Day 19
Dynamics 19
Structural Characteristics 21
Normal Variation of a Normal Day 21
Dynamics 21
Structural Characteristics 23
Trend Day 23
Dynamics 23
Structural Characteristics 23
Double-Distribution Trend Day 25
Dynamics 25
Structural Characteristics 25
Nontrend Day 27
Dynamics 27
Structural Characteristics 27
Neutral Day 27
Dynamics 27
Structural Characteristics 28
Day Type Summary 31
Chapter 3 Advanced Beginner 33
Building the Framework 34
The Big Picture: Market Structure, Trading Logic, and Time 34
A Synthesis: Structure, Time, and Logic 35
Ease of Learning 36
Amount of Information 36
Recognition Speed 37
Trade Location 37
Confidence Level 37
Summary 38
Evaluating Other Timeframe Control 38
Other Timeframe Control on the Extremes 40
Tails (or Extremes) 40
Range Extension 40
Other Timeframe Control in the Body of the Profile 40
TPO 41
Initiative versus Responsive Activity 45
Trending versus Bracketed Markets 49
Key ElementsA Brief Discussion 51
Trending Markets 54
Bracketed Markets 54
The Two Big Questions 56
Chapter 4 Competent 59
Doing the Trade 59
Section I 60
Day Timeframe Trading 60
Day Timeframe Directional Conviction 61
Opening Call 61
The Open 62
The Open as a Gauge of Market Conviction 63
Open-Drive 63
Open-Test-Drive 65
Open-Rejection-Reverse 68
Open-Auction 69
Open-Auction in Range 70
Open-Auction out of Range 71
Summary 73
Opening's Relationship to Previous
DayEstimating Daily Range Potential 74
Open within ValueAcceptance 75
Rejection (Breakout) 79
Open outside of Value but within RangeAcceptance 80
Rejection (Breakout) 83
Open outside of RangeAcceptance 84
Rejection 85
Summary 85
April 13,1989 86
Crude Oil 87
S&P 500 87
Gold 90
Japanese Yen 92
Soybeans 92
Treasury Bonds 92
Summary 95
Day Timeframe Auction Rotations 96
Two-Timeframe Markets 97
One-Timeframe Markets 97
Using Auction Rotations to Evaluate Other Timeframe Control 97
Structure 99
Half-Hour Auctions 100
Extremes 100
Range Extension 101
Time 101
Ident…