[156]

Hello,

I am interested in learning market profile but I am not sure where to get started as I don't know almost anything about it and I really need something that explains the basics. It would be greatly appreciated if you guys could recommend me any good book that will be suitable for beginners or any online resources!

Thank you so much for your help!

[omni2006]

Originally Posted by 156 »

Hello,

I am interested in learning market profile but I am not sure where to get started as I don't know almost anything about it and I really need something that explains the basics. It would be greatly appreciated if you guys could recommend me any good book that will be suitable for beginners or any online resources!

Thank you so much for your help!

Hi 156 -

the two primary texts i would recommend would be Mind Over Markets and Markets In Profile, both by Jim Dalton.

i would also recommend Steidlmayer On Markets.

Jim Dalton also has a list of resources over at the DLC Profiles site. one of the resources listed is for a presentation Jim gave on Market Profile.

i don't know how capably i can convey this to you now, but i would definitely recommend keeping a couple of things in mind as you go along. first, Market Profile is not all about entries and exits. second, Market Profile is about understanding market generated behavioral information. third, context is king; all things are not created equally in the market and studying Market Profile can facilitate that understanding.

i hope this is helpful and that yours is a positive journey.

take care -

omni

[BlowFish]

Market Profile section here. Cbot webite and Dalton are the usual answers to this question

[matinthehat]

I am a beginner and am reading Trading and Exchanges: Market Microstructure for Practitioners by Larry Harris. This book is amazing. It will not teach you about market profile, but it will teach you everything you need to know about the markets and trading.

[mike_ITL]

Hi 156,

I agree with Omni.
Just take the time to read "Mind over Markets" and "Markets in Profile" a couple of times (or more).

I would first go for the free CBOT free handbook, that will give you the basis, but you will have to be patient to go through the entire manual!

Nice avatar! (I have a GTV)

Mike

[DaKine]

If you've read both of Dalton's books does the cbot manual provide any value?

How would you rate steidlemayers works?

Thanks

[BlowFish]

Personally if I wanted to "learn MP" I'd read the lot it's not like its an extensive list. If I was limited to one I'd go with one of the Daltons though haven't picked up P.S.'s latest book. having said that I don't use MP!

[thomas95003]

Hi,

A great resource to really dig deep into the Market Profile concept is Donald L.Jones book Value-Based Power Trading, I am using it a lot and his website is of great help as well, my next book in line is Mind over Market it was written by James F.Dalton and Donald's son Eric T Jones. Tom Alexander has written a very nice small book called "Practical Trading Applications of Market Profile", his 10 day ATR potential concept is worth the reading, it is a very nice summary about Market Profile and how to use them. But my all time favorite is Value-Based Power Trading, the concept to use the overlay demand curve MP's like 3days, 5 days, 10days & 20days is a great way to pinpoint trends and breakouts in advance.

I am using footprint Bid Ask charts to read the orderflow in relation to Market Profile rotation points, TPO high and low volume points.

CISCO Futures
www.alexandertrading.com

Cheers

Thomas