Lately, I have been focusing more on learning about trading and the markets than chasing indicators. I have always used basic indicators of which I had a good understanding, and I find that I would like to gain indepth understanding of the markets themselves and to that end I have been reading more about market profile and the auction process.
Many are familiar with "Mind over Markets" and "Markets in Profile" ... Dalton's latest work is "Field of Vision" ... this thread is to record my thoughts when comparing them, and if there are others who have purchased the course, feel free to share your thoughts and opinions as well.
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What I have to comment so far on the course; it is better than the book if one wants to grasp the concepts right away without having to read both of his books and lacks a proper foundation.
Given I have read his books and also taken some of FT71 webinars, the material was not all that new to me, but it is taught from the point of view that those taking it dont have the knowledge, which to me is a good thing as it allows me to re-affirm what I already know and clarify some possible miss-conceptions I might have about MP and its use.
During the first 30 minutes Dalton covers the basics of the auction process with real life examples, and then starts working on the reason for Market Profile.
I got distracted with playing with the kids this weekend, therefore I only watched about 45 mins... the kids took priority since I am traveling this coming week. Anyhow, More to come as I complete the videos. I hope the review will help those searching for a guide to MP determine if the video is worth it for them.
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Thank you very much for sharing your experience with Jim Dalton work. I am in the process of learning about market profile, I want to complete my VSA/Wyckoff backgroung with some MP principles.
I am reading Mind Over The Market currently but I find it quit difficult to read. I am not much of a reading learner so was concidering to buy his DVD. I will watch your post closely to help me make my decision ...
"Mind Over Markets" is in my opinion the bible of all trading books. If you had started off with bar charts and the like, you will be slightly thrown off balance and find it difficult to understand.
"Markets in Profile" doesn't add or expand on anything to what is already in "Mind Over Markets". It is written with so much general talk, that, one is finding it difficult to filter the valuable bits. I have just finished it and am disappointed.
"Steidlmayer on Markets Trading with Market Profile" is a good one, but still when you leave out the promotional bits that are trying to sell you a software, there is some good trade set-ups.
I will be interested too to find out any opinions on "Field of Vision" as I am a bit prejudiced because of "Markets in Profile".
"The only thing to do when a man is wrong is to be right by ceasing to be wrong." - Edwin Lefevre -
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to all thoes that were looking for additional feedback, my apologies... I have been home this past 3 weeks, and when I am home I spend most of my time with the kids. I am traveling this coming week and I will have time to go through the DVD's again... taking them with me so I can view on the 6 hour flight tomorrow... stay tuned.
my apologies, I finished them already and I have been busy now learning more about trading spreads... overall, well spent $750... I will go ahead and replay them while I exercise on the threadmill and capture some screen shots and add some more comments... stay tuned..
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Dalton reviews his books as well within the first DVD and evaluates them with pro's and con's and recommend his second book over the first one.
I liked how the profile was able to be expanded for the current day within the platform he is using. I decided to check all my settings on MD/IRT and I came to find that it has the same ability. I now view the days profile expanded and collapse the rest, it does help a lot better on interpretting the day and trying to figure out the direction.
I found his auction process explanation to be rather simple and clear, which when combined wth the explanation of what market profile captures and represents in terms of data from the auction process it allowed to have one of those moments in clarity that comes when things click in your head.
There is only one other book that i would recommend that provides extreme details on the markets and its participants for anyone looking for anything above the basics which Dalton's provides within the video and that is: Trading and Exchanges: Market Microstructure for Practicioners by Larry Harris. I think that should be a book every trader should have on his library personally.
overall, DVD was very educational and I liked the ability of going back over subjects and replying things whenever I could not follow his explanation or it was in disagreement with something I had understood. I will follow up with the next DVD.
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