Markets in Profile explores the confluence of three disparate philosophical frameworks: the Market Profile, behavioral finance, and neuroeconomics in order to present a unified theory of how markets work. The Market Profile is an ever-evolving, multidimensional graphic that gives visual form to the market's continuing auction process, revealing the myriad underlying dynamics that influence market activity. Behavioral finance posits that investors are driven more by emotional factors and the subjective interpretation of minutia than by "rationality" when making investment decisions. And neuroeconomics is the study of how investor psychology permeates and affects the financial markets. Mr. Dalton explicates the ways in which irrational human behavior influences the market's natural auction process, creating frequently predictable market structure, which results in opportunities for investors to ameliorate risk. The book will improve investors ability to interpret change in markets, enabling better, more confident investment decisions.
Praise for MARKETS in PROFILE "Good books teach, but the best books enlighten. Markets in Profile is much more than a lucid explanation of the Market Profile and its application; it is an enlightening perspective on auction markets and the principles underlying all trading, regardless of time frame. Clearly written with many practical examples, Markets in Profile moves seamlessly from trading how-to's to trading psychology and back again, emphasizing the trader's dual challenge of understanding markets and understanding self. In so doing, authors Dalton, Dalton, and Jones have produced a worthy successor to their classic Mind over Markets."
-Brett N. Steenbarger, PhD, author of The Psychology of Trading and Enhancing Trader Performance
"Markets in Profile is a brilliant, insightful work that should be required reading for any trader. Dalton, Dalton, and Jones will transform your trading technique through their unique knowledge of the markets and understanding of trading psychology."
-Martin Sheridan, commodities trader, NYMEX member
"This book provides a fresh approach to behavioral finance-ideas that I have used to great benefit."
-Gregory A. Ehret, Senior Managing Director, State Street Global Advisors
"Few people understand the dynamics of the auction process as well as Jim Dalton. Market Profile offers a graphic representation of this process and Markets in Profile illustrates Jim's mastery of it."
-Steve Dickey, Vice President of Market Data Products, Chicago Board of Trade
"Market data speak volumes and Jim Dalton has deciphered the code. In Markets in Profile, Jim shares his techniques of profitable trading in a most readable and entertaining format. Serious traders, both professional and amateur, should benefit from the application of Jim's volumetric approach to reading what investors are telling us through their collective buy-sell transactions."
-Walter Sall, professional investor
