Fresh Start for the New Year: Second of Two Webinars

Monday, January 11, 2016 | 9:00 - 10:00 am ET

The New Year can be a time to ascertain any change in attitude by the longer timeframes. Jim will start the New Year by doing a brief top-down analysis so we are positioned to observe if any change begins to occur. Jim will also share how he uses market-generated information for the shorter term auction and discuss his perspective for the beginning of the year.

This is the second of two webinars. One webinar was recorded on Monday, January 4 and this webinar will be on Monday, January 11 at 9 am ET.

Register

Download the S&P Recap and Preparation Report for January 11, 2016 here

Fresh Start for the New Year: First of Two Webinars

Monday, January 4, 2016 | 9:00 - 10:00 am ET

The New Year can be a time to ascertain any change in attitude by the longer timeframes. Jim will start the New Year by doing a brief top-down analysis so we are positioned to observe if any change begins to occur. Jim will also share how he uses market-generated information for the shorter term auction and discuss his perspective for the beginning of the year.

Join us for two webinars on Monday, January 4 and Monday, January 11 at 9 am ET.

Download the S&P Recap and Preparation Report for January 4, 2016 here

Download the S&P Morning Report for January 4, 2016 here

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Happy Holidays!

We will be announcing our next webinar series starting after the New Year soon! You will be receiving notification via email or you can always check back at this page.

If you wish to see our recent Run for the Roses Webinar Series, please visit our Recorded Webinars area.

Run for the Roses: Navigating Year-End Trading

Webinar Five in a Five Webinar Series

Historically, the trading from Thanksgiving up to Rose Bowl is strong. The past several months have not fit any past patterns that caught Jim Dalton's eye. In order to help you navigate the last several weeks Jim presented these five free Monday morning webinars prior to the opening. These sessions provide perspective for Monday trade as well as the week ahead and provide a broader perspective as we approach year-end. These webinars were held on the following Mondays for the end of 2015: Monday, November 23rd, followed by November 30th, December 7th, 14th, and just before Christmas on Monday December 21st.

This series a prelude to a bold, new concept Jim is introducing for the beginning of 2016. Stay tuned!

Monday, December 21 | 9:00 – 10:00 am ET

Download the S&P Recap and Preparation Report for December 21, 2015 here

Download the S&P Morning Report for December 21, 2015 here

Hosted by WindoTraderBLUE – FOMC

Wednesday, December 16, 2015 | 12:00 – 1:00 pm ET

This was an important news day for traders with the Fed expected to make a much anticipated interest rate announcement on this day.

Jim reviews morning trade and shares his observations and trades that he saw using WindoTraderBLUE, highlighting any signature trades that he saw and describing his thought process.

He also shares his perspective for the afternoon trading session.

Watch it here

What I’ve Learned From Jim Dalton and Market Profile Theory

Brett N. Steenbarger, Ph.D.

www.traderfeed.blogspot.com

Download the PDF here

“There is nothing so practical as a good theory,” psychologist Kurt Lewin once commented.  A theory helps us organize our perceptions; it helps us make sense of the world.  The purpose of science is not just to predict, but also to explain.  We can predict when the sun will rise in the morning, but that doesn’t mean we understand a damn thing about the solar system.  Theories are practical, because they help us understand markets.  Too many traders focus on prediction and fail to understand why markets behave as they do.

Market Profile is a theory and, like all good theories, it is based upon an analogy.  Analogies transform what we don’t know into a framework that is more known.  If I were to develop a theory of people’s responses to losing trades based upon research into what we know about traumatic stress, that might be quite practical.  The techniques from the trauma literature might be useful in helping people manage the stress of drawdowns.  As we learn more, we can refine our theories and this can improve our practice.  Perhaps I identify that large wins shake people up as much as large losses.  The techniques from PTSD therapy might actually be helpful in enabling traders to psychologically manage their upside!

The analogy at the heart of Market Profile theory is that markets are auction processes, not so unlike eBay auctions.  We have buyers, we have sellers, we have buyers willing to pay the “buy it now” price, we have sellers willing to accept any bids, and we have buyers and sellers willing to name their prices.  It is the interplay of these eager and patient participants that ultimately determines price movement over time.  By tracking how price and volume behave at particular price levels, we can gain insight into whether buyers or sellers have taken the upper hand.

An important aspect of Market Profile theory is that it pushes us to view market behavior from the bottom up, not just from the top down.  Many traders taking a “macro” perspective attempt to predict market behavior from what is going on in the economy or from monetary or geopolitical developments.  Market Profile takes each period of time, each level of price, and each unit of volume and infers the buying and selling of participants here and now.

This is what is unique to Market Profile:  it identifies; it does not predict.  It is not a crystal ball; it is a weather vane.  If you’re about to parachute into markets, it helps to know not only the weather forecast but the wind direction and speed here and now.

There is one other important strength to Market Profile theory: it places market movement into context.  We might break out to a new high or low in price, but that breakout might be occurring within the context of a longer-term range.  Conversely, we could be breaking out of a longer-term range, making the short-term price action especially important.  Market Profile encourages us to view markets across multiple time frames, so that we can more readily identify when we’re achieving new levels of value or merely probing upper and lower levels of an existing value area.

Where is value located?  How is value shifting over time?  How are moves outside of the value area being accepted or rejected?  These are some of the questions that make Market Profile a practical theory.  When we view markets as auction processes, we can understand why markets behave as they do.  Having a handle on those whys can make us more confident traders.

If we trade well, if we trade with understanding, we’ll be most likely to sustain a positive trading psychology.  Too many people hope to make money by working on their psyches.  The truth is that trading with understanding gives us the mastery needed for a positive mindframe.

One last observation:  I’ve learned all these things from Jim Dalton.  He is more than a trader and more than a theoretician.  He is a true teacher.  When I ran a training program for new traders in Chicago, there was only one required textbook, and it was Jim’s Mind Over Markets.  It’s not about finding setups or predicting the next Fed meeting or market trend.  It’s about understanding what the hell markets are doing and why they’re doing it.

If you’re trading without a theory, you’re trading without understanding.  That’s the most impractical option of all.

Run for the Roses: Navigating Year-End Trading Webinar #4

Webinar #4 of 5 in the Series

Monday, December 14 | 9:00 – 10:00 am ET

Recorded on Monday, December 7, 2015. This is the first of five webinars being held prior to the stock market opening on Monday mornings, designed to give perspective for Monday trade as well as the week ahead and provide a broader perspective as we approach the end of the year. You can register for these end-of-year live webinars here.

Historically, the trading from Thanksgiving up to Rose Bowl is strong. The past several months have not fit any past patterns that caught Jim Dalton's eye. In order to help you navigate the last several weeks of trade, we are offering these weekly Monday sessions prior to the opening. These webinars will be held from 9:00 to 10:00 am ET.

Dates are Monday, November 23rd, followed by November 30th, December 7th, 14th, and just before Christmas on Monday December 21st.

This series is a prelude to a bold, new concept Jim is introducing for the beginning of 2016. Stay tuned!

Download the S&P Recap and Preparation Report for December 14, 2015

Download the S&P Morning Report for December 14, 2015

Run for the Roses: Navigating Year-End Trading Webinar #3

Webinar Recording for Third of Five Webinars in the Series

Monday, December 7 | 9:00 – 10:00 am ET

Recorded on Monday, December 7, 2015. This is the first of five webinars being held prior to the stock market opening on Monday mornings, designed to give perspective for Monday trade as well as the week ahead and provide a broader perspective as we approach the end of the year. You can register for these end-of-year live webinars here.

Historically, the trading from Thanksgiving up to Rose Bowl is strong. The past several months have not fit any past patterns that caught Jim Dalton's eye. In order to help you navigate the last several weeks of trade, we are offering these weekly Monday sessions prior to the opening. These webinars will be held from 9:00 to 10:00 am ET.

Dates are Monday, November 23rd, followed by November 30th, December 7th, 14th, and just before Christmas on Monday December 21st.

This series is a prelude to a bold, new concept Jim is introducing for the beginning of 2016. Stay tuned!

Download the S&P Recap and Preparation Report for December 7, 2015

Download the S&P Morning Report for December 7, 2015

Run for the Roses: Navigating Year-End Trading Webinar #2

Webinar Recording for Second of Five Webinars in the Series

Monday, November 30 | 9:00 – 10:00 am ET

Recorded on Monday, November 30, 2015. This is the first of five webinars being held prior to the stock market opening on Monday mornings, designed to give perspective for Monday trade as well as the week ahead and provide a broader perspective as we approach the end of the year. You can register for these end-of-year live webinars here.

Historically, the trading from Thanksgiving up to Rose Bowl is strong. The past several months have not fit any past patterns that caught Jim Dalton's eye. In order to help you navigate the last several weeks of trade, we are offering these weekly Monday sessions prior to the opening. These webinars will be held from 9:00 to 10:00 am ET.

Dates are Monday, November 23rd, followed by November 30th, December 7th, 14th, and just before Christmas on Monday December 21st.

This series is a prelude to a bold, new concept Jim is introducing for the beginning of 2016. Stay tuned!

Download S&P Morning Report for November 30, 2015

Run for the Roses: Navigating Year-End Trading Webinar #1

Monday, November 23 | 9:00 – 10:00 am ET

Webinar Recording for First of Five Webinars in the Series

Recorded on Monday, November 23, 2015. This is the first of five webinars being held prior to the stock market opening on Monday mornings, designed to give perspective for Monday trade as well as the week ahead and provide a broader perspective as we approach the end of the year.  You can register for these end-of-year live webinars here.

Historically, the trading from Thanksgiving up to Rose Bowl is strong. The past several months have not fit any past patterns that caught Jim Dalton's eye. In order to help you navigate the last several weeks of trade, we are offering these weekly Monday sessions prior to the opening. These webinars will be held from 9:00 to 10:00 am ET.

Dates are Monday, November 23rd, followed by November 30th, December 7th, 14th, and just before Christmas on Monday December 21st.

This series is a prelude to a bold, new concept Jim is introducing for the beginning of 2016. Stay tuned!

Download S&P Evening Report for November 23, 2015

Download S&P Morning Report for November 23, 2015

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