A key process that sets us apart at J Dalton Trading is that we teach our students the concept of monitoring for continuation. Most instructors will only talk about targets (the price followers you talk about). They might teach you to have a target and stop and tell you that either the trade will work or not. But there are many other signs that offer valuable clues. In this webinar, Jim teaches you what to look for and how to train your brain to monitor any type of trade.
The FOMC met on Wednesday, June 15 with limited time left in the session. Jim is live the following morning at 9 am EST to prepare for pit session trade. Jim reviews overnight trade, provides scenarios for the session (gap rules were in play) and narrate the first 30 minutes of S&P trade.
What kind of trader are you? We’ll discuss the tools that fit your trading personality. For example: Very few traders have the experience or mental flexibility to be successful fast traders. For them, short-term references such as the daily low, the opening, and halfback drive these short-term, fast thinking traders. However, the slower, more thoughtful trader uses different references such as value, balance, and directional confidence for their trades.
We recommended the book, Thinking Fast and Slow a couple of years ago. This book was still on the New York Times Best Seller list as of Sunday, February 12, 2017.
The session opens with a review of last week and thoughts for the coming week. Then we will open the floor to our traders on this day and answer all the questions you have been storing up! This is always a dynamic session!
We’ll introduce you to our J Dalton Trading training website and show you how to access various trading and market information. She will also take questions and hear comments about the Market Profile Mastery Series and J Dalton Trading and other market-related topics.
Learn how to use value to your benefit. Value area development is all too often overlooked as traders fall into their traditional fixation on price. Price is an advertising mechanism designed to get your emotional attention. And price is also the weapon of choice of an auctioneer. Recognizing developing value helps you filter out some of the emotional traps.
Understanding the market leading up to the final hour better prepares you for this significant time of the day. It is usually best to go back and review the day from the opening to feel comfortable understanding what may be developing beneath the surface. We’ll give you some key tips to prepare and will provide a step by step review.
We began the year anticipating increased volatility. Late Friday afternoon through Sunday evening, following the failure to pass the health care bill we experienced sharply increased price volatility. Monday’s opening represented the biggest decline of the year. The volatility quickly challenged many traders emotionally including Jim.
Jim’s emotional challenges were greatly magnified as three of our signature rules or guidelines collided. The spike trading rules, gap guidelines and overnight inventory observations were front and center on the opening. Drawing on the writings of Daniel Kahneman’s book, Thinking Fast and Slow, Jim made a crucial decision that positively slowed his emotions and allowed him to his capture overnight profits.
Jim would like to share his thought process with you in this important advanced webinar. Knowing how to think about markets holds the keys to trading survival.
You can purchase a summary version of Daniel Kahneman's book, Thinking Fast and Slow, here.
Wednesday, March 22, 2017 | 11:00 am - 12:00 pm EST
Gaining a fuller appreciation of midday dynamics is important for two reasons; 1. Far too many traders get caught overtrading during these often quiet market times. This can be costly emotionally and financially and 2. Getting prepared for the important final hour.
What do we mean when we say ‘to trade or not to trade’ during the first hour? This is more complex and important than the simple question suggests. For example, your initial intention may be to stay out of this early environment. However, a spike to an important reference may reveal an opportunity. We’ll discuss how to identify these potential opportunities. Many traders are too anxious to trade early expending both psychological as well as financial capital.