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1. Price—advertises opportunity; there’s a clear distinction between price and value.
2. Time—regulates all advertised opportunities.
3. Volume—measures the success or failure of these advertised opportunities.
"The concept of 'VALUE TRANSITION' is one of the most important topic on the Auction Theory. The work of a Profile Trader is to figure out a potential change on value perception, if the price is acceptable (acceptance) or rejected (rejection). 'Price always precedes Value', the price is the announcement of the change of value, but its acceptance in a new level of perceived value must be confirmed with the volume. Price is Advertisement, Volume is Confirmation." -Verniman
"I always say that you could publish trading rules in the newspaper and no one would follow them. The key is consistency and discipline. Almost anybody can make up a list of rules that are 80 percent as good as what we taught people. What they couldn’t do is give them the confidence to stick to those rules even when things are going bad."
