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This book is a bold call to action for all investorsfromday traders through the longest-term individual investors, totraditional asset managers and hedge funds that control trillionsof dollars. It challenges serious traders, investors, andresearchers to reach beyond price-based market analysis andtraditional fundamental research for a more contextual approach . .. an approach that translates the principles of behavioral financeinto actionable reality by examining the relationship betweenprice, time, and volume.
The authors take a profoundly different approach toward thetraditional separation between day, short-, intermediate-, andlong-term investors, pointing out that even the longest-termprofessional investor is a day trader on the day they enter, exit,trim, or add to a position. Lead author Jim Dalton and coauthorEric Joneshaving been heavily involved in selecting hedgefunds and traditional managers for a leading Wall Street financialservices firmcan attest to the importance of each basis pointof performance in a world where one quarter's results can triggerfinancial triumph or a quick exodus.
In May of 2006, two months before the book was to be deliveredto the publisher, the U.S. stock market broke eight percent in amatter of dayssending investors and the media into atailspin. The authors saw this as an opportunity to demonstratetheir theories in real-time, as opposed to cherry-pickinghistorical events that supported their claims. The event unfolds inChapter 6 and the authors offer sound advice and strategies on howto navigate market activity yet to unfold. The results aresummarized in the Appendix, which was written after the book wassubmitted to the publisher. You be the judge.
Filled with in-depth insight and expert advice, Markets inProfile teaches you the market's basic auction process, redefineshow to view and conduct research, separates the markets intodifferent time frames, illustrates the importance of inventoryimbalances, and, in sum, demystifies market behavior by showing youhow to organize the market's auction process in a scientific,systematic way.
"Good books teach, but the best books enlighten. Markets inProfile is much more than a lucid explanation of the MarketProfile and its application; it is an enlightening perspective onauction markets and the principles underlying all trading,regardless of time frame. Clearly written with many practicalexamples, Markets in Profile moves seamlessly from tradinghow-to's to trading psychology and back again, emphasizing thetrader's dual challenge of understanding markets and understandingself. In so doing, authors Dalton, Dalton, and Jones have produceda worthy successor to their classic Mind over Markets."
—Brett N. Steenbarger, PhD, author of The Psychology ofTrading and Enhancing Trader Performance
"Markets in Profile is a brilliant, insightful work thatshould be required reading for any trader. Dalton, Dalton, andJones will transform your trading technique through their uniqueknowledge of the markets and understanding of tradingpsychology."
—Martin Sheridan, commodities trader, NYMEX member
"This book provides a fresh approach to behavioralfinance—ideas that I have used to great benefit."
—Gregory A. Ehret, Senior Managing Director, State StreetGlobal Advisors
"Few people understand the dynamics of the auction process aswell as Jim Dalton. Market Profile offers a graphicrepresentation of this process and Markets in Profile illustratesJim's mastery of it."
—Steve Dickey, Vice President of Market Data Products,Chicago Board of Trade
"Market data speak volumes and Jim Dalton has deciphered thecode. In Markets in Profile, Jim shares his techniques ofprofitable trading in a most readable and entertaining format.Serious traders, both professional and amateur, should benefit fromthe application of Jim's volumetric approach to reading whatinvestors are telling us through their collective buy-selltransactions."
—Walter Sall, professional investor
I watched JIm Dalton's Market Profile unfold before me and it was a thing of beauty. After you read and process the information, you will begin to see the market with new eyes. Read morePublished 29 days ago by HW
I read this book after reading 1. Steidlmayer on Markets Followed by 2. Mind over Markets. I found it gave extra further insight to the previous 2 books. Read morePublished 5 months ago by Terry Novella
Very good book. Not an easy read but as an experienced trader willing to do the work I must say I wish I'd purchased it years ago.Published 9 months ago by Mark Knecht
I alrady had a good idea what volume profile was. This book helped provide tips and tricks of the trade (no pun intended).. Really great material. Read morePublished 10 months ago by Matt Sikorski
Excellent book going into further details of the mechanics of market profile. I would recommend reading Dalton's other book first thoughPublished 10 months ago by Txchase
Markets in Profile was extremely helpful in creating my trading strategy. Focusing on volume at price, accepted levels and rejected levels, has led to significant returns both long... Read morePublished 10 months ago by Matthew Hoffman
gives a new way to view stock markets, if you have a hard time following trends and when markets are in balance this may help, it did me.Published 15 months ago by racecar
Market Profile is one of the more useful technical indicators I've run into, but I didn't really get it until I read this book. Read morePublished 18 months ago by Jack Edward Heald
First: if you are looking for a book to give you some magical system to trade this isn't your answer (that doesn't exist by the way). Read morePublished on August 27, 2012 by M. J. Bonney