Mind Over Markets: Power Trading with Market Generated Information, Updated Edition

This would help us to understand the structure and that enables us to take the entry in the market.

A fundamental book to get the context of the market. Context is every thing! Simply a must study.

quien busque en este libro varios SETUPS, que se olvide. Es solo teoría aunque de la buena. Está muy bien estructurado

For those who do not know Dalton, he has over 40 years experience trading and a legend in Market generated information Analysis. In simple terms, it addresses two questions..and gets it correct most of the time.>> What is the market trying to do ?>> How good is the Market doing that job ?And believe me, it does a pretty good job of getting answers to the above two questions. Think about all the time you were on the wrong side of a trade and lost money it was because you did not know the answers to the above two questions. Most of the technical indicators are backward looking and are price oriented.It misses the bigger picture. As an example Bollinger Band or RSI, which does a pretty good job of nailing a meandering market but fails during a relentless one way move up or down.In late 2015 / early 2016 that is exactly happened. Several rare multi standard deviation moves happened in short time frames trapping the reversion to mean crowd.Aug 8 in 7 Days 135 Pts downSep 29 in 35 days 225 pts UpDec 30 in 20 days 204 downMar 12 in 40 days 240 Pts upSimilarly how do you know if a rally is a short covering or does it have legs ? How do you know if the fall is nothing more than a liquidation break and not a long term trend reversal. Read this book. I have read several books, some of them very good but this one would almost certainly rank as one of the top books.The logic behind is methodology is brutally simple. A price is an advertising mechanism to bring the buyer and seller to the table. A price can be distorted but trade the underlying value . Five people can go to a car dealer to buy a car,but all five are buying for different reasons.A student buys a car with all fashion accessories and a family man buys the same car for a different purpose and is sold at different price. Similarly in stock market, day traders have a different objective vs a trader with different time frame and both of them trade the same underlying. It is about understanding as to how these two groups interact with each otherHOW TO LEARN THE METHODOLOGY:Since Dalton does not provide any trading tip or “gotcha” entry points, you got to treat this book as a textbook . Remember Dalton is retiring after forty years and this is a distillation of his experience. A passing read on a Starbucks coffee shop or when sleepy is not going to get you there. Even an experienced trader need to read the book three or four times to get it completely.Start with the first chapter. Take it extremely slow, look at the paragraph and go to the chart that he is referring to . If you think you understand it, move to the next paragraph. While you do it, you also need to use it in real life trading. Go to the jdaltontrading website in the page market-profile-vendors, it lists all those tools that incorporate the methodology. Make a note in the journal as to what the market is doing, where it is opening, how it closed, what is the perception of value and so on ( you will get it as you read the book). At the end of the day, you should compare against how your observation fared against the reality.CONS : The quality of charts are disgrace. For the price of the book, the charts must have been colored. Instead all we get is a slice of chart, sometimes explained several pages away, some of those numbers and references don’t match .TASTYTRADE:If you are one of the masses, GOOGLE FOR 'TASTYTRADE'. It is a free website by Tom Sosnoff , founder of ThinkorSwim who is giving away brilliant pieces of research analysis and advice for free after big wins in his career.Also search for "KAREN SUPER TRADER" in youtube who made 45 MILLION DOLLAR GAINS in few years using techniques similar to Tom Sosnoff methodology. he is employing Data scientists, Research programmers, tons of back testing reports etc never even imaginable for a common man and giving away everything for free. His tradable and actionable content crushes CNBC. ( Nope, I am not paid by Tastytrade). He is proving to the world `option's is not reckless. In fact, the Shadowtrader segment of the Tastytrade broadcast was the one that introduced me to this book. While at tastytrade never miss their segments like Market Measures, Option Jive etc.The quality of research you get is unbelievable !SUMMARY:Try to ride the stock market train , or stay aside, but never facing an oncoming train. You will get wiped out. This is the best book I have known that helps you to trade with the trend.

I have been studying to be a trader for three years full time. I have read all the books and studied so hard but never was able to come up with a trading plan that I felt would give me an edge. I got Mind Over Markets four months ago and have been through it twice so far. My book is highlighted and written up throughout and I will need to go through it again and again in order to retain and learn the info. I work at it full time. It's not just the book but I took Dalton's recommendation to look at the profile in real time in order to see and get familiar with what is presented in the book. I now know that nothing worked for me because I could never "trust" the candlesticks but working with profiles let's you see and understand what is going on inside the candles.I first tried to keep my familiar charts at the same time but found that I was not learning the profile because I was not seeing the nuances with it so decided to go profile completely along with a couple of candlestick charts and progress is much better. I get thrilled when I see the "other timeframe" activity and can now tell the difference which helps me allot.I watch the profile about ten hours per day for both the morning London/US and afternoon Asian sessions. I study for about another four hours per day. I'm very lucky that I presently do not work a regular 8-5 job. For the past year my enthusiasm for trading dropped dramatically but it's back because of this book. I now have hope and eagerly get up at 4am to "watch" the charts.When I first started studying three years ago, I thought I would be trading within six months. Six months turned into three years and I was losing hope of ever being a trader. I started with Forex but now focus on futures and have only done about three live trades. The three trades were about two years ago and it just didn't make sense for me to trade without a plan. After all that reading and studying, I was nowhere.I am closer now to being ready than I ever was and hope to start paper trading in about a month and then go live when I am more competent at the profile. I still have allot to study and learn but this book along with Dalton's other book Markets in Profile is all I need.I just got Markets in Profile this week and I have already learned from that book also. Some people compare these two books saying Mind Over Markets is better. I disagree because they are different and they both have added to my understanding. I have made a decision that the only way to be a successful trader is to learn the market profile and another $50. for my education is a bargain.I don't believe that I would ever be successful without learning the profile and I think Dalton's books are the best to learn. The profile is confusing and difficult at first so you have to put in the time but if you really want to be a profitable trader then I believe this book will do it for you. I am so grateful to Dalton for writing these books.