Mind over Markets: Power Trading With Market Generated Information

The key element that has long separated tremendously successful traders from all others is their intuitive understanding that time regulates all financial opportunities. In 1984, J. Peter Steidlmayer formally introduced the Market Profile as a way to graphically depict the acceptance or rejection of price over time. For the first time, what had once been the domain of the intuitve trader was not accessible to all traders.

The ability to record price information according to time has unleashed huge amounts of useful market information in a form never before available In turn, this information explosion has triggered a new way of looking at markets and opened the doors for accelerated levels of market analysis.

Mind Over Markets is a book about learning; learning the dynamics of markets through the organization of price, time and volume, and learning how to synthesize this information with your own intuition.

Our goal is to arrie at a healthy balance between the powers of objective observation and intuitive decision making--a rare talent possessed by only the best of traders.

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All Customer Reviews
Average Customer Review:
1 of 1 people found the following review helpful:

Good but requires a lot of study, 2008-11-28
I can recommend this book if you want to understand the "Market Profile" concept, which is a special way of charting price movement. The book is well written and contains a lot of information which takes some time to digest.

The key weakness with the book is that the reader has to do a lot of work in addition to create a useful approach out of the information provided. The authors keep noting that the Market Profile cannot be used for forecasting. With this they seem to mean longer term forecasting.

This is a much better book that the 2007 book by the same authors.

I have written several short reviews on trading books. The best way is to compare the score on the books I've read. Many reviews on amazon.com are just glorious 5 star reviews. I use all five categories; sorry but everything isn't "great". Books rated 5 are very good. Books rated 4 are good solid books well worth reading. Books rated 3 can be bought by some people who read a lot or have very specific needs. Books rated 1 or 2 I would not recommend buying or reading. Naturally all in my humble opinion.


4 of 4 people found the following review helpful:

a way to frame the markets, 2008-01-16
I think the reason that at least one reviewer mentioned this book and the phrase "holy grail" is that this books contains an exhaustive exposition of the types or forms of days that the market can have with respect to different time periods. Trading strategies and technical analysis, which are really the only tools that readers can cull from popular trading books, don't really provide a frame, or thorough way to look at the market. Market Profile on the other hand thoroughly explains the auction process in terms of buyer and sellers without recourse to some filter--it's market generated information, not imposed rules. In this sense, it's invaluable. The trading rules thereby procede from what the market tells you. Of course, the market can still fool you but what the book teaches you is how to listen to the market and interpret in its simplest, particulate forms.

My review is at a very abstract level, but the book provides, with maybe too many examples, the types of days that a market can have and their implications and indications. For example, the authors would say that if the trading in the first half hour is within a limited range, then it has a high chance of trading outside that range; if it goes out of that range to the downside, then we have a strong seller presence. If buyers don't step up to buy in this new range, then we would anticipate that sellers are in control of the market, at which point we should place a short position. Now, the market can continue its trend, establish a new range, or buyers can step in to create what is called a buying tail, which is a sign that buyers find value at the new lows. This is a bit complicated, but once you read the book and understand the possible market movements, then it all becomes almost algorithmic and intuitive at the same time. A better title might be "market sense," in the same way that common sense tells us how to frame everyday human situations.


1 of 1 people found the following review helpful:

The Bible of Market Profile, 2007-10-27
This is simply the bible of Market Profile. Jim Dalton has laid out the Profile in a clear, usable way. I have been involved in futures trading for over 35 years and some of the concepts (i.e. the effect of other time frame traders) were particularly helpful for me.

I strongly recommend this book and Jim's newest book, Markets in Profile as must-reads for any serious trader.

Jeff Quinto, Photon Trading Room and the Remote Mentoring Program


0 of 0 people found the following review helpful:

This book truly has something for everyone. , 2007-05-29
To pay for the book on the first day read the "Special Situations". Do those when you see them. The rest of the book will make you a better trader for all those other times. Some of you may be put off by the piano metaphors, but the key (sorry!)is that when you see the patterns over and over again, you'll know what to do without thinking overmuch.


1 of 1 people found the following review helpful:

Not fancy, but explains the concept well, 2007-05-15
This, along with the guide available for free from the CBOT, give you insight on why markets trade as they do and a framework for using that data to understand how well they are trading that way. You only see mention of market profile in passing in other books, since it is not flat out buy/sell here system but more of a pattern of occurring and probable market action.

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