Steidlmayer on Markets: Trading with Market Profile, 2nd Edition

great book, much recommended to those who want to apply MP and the auction process principles to trading.

Great book.....different concepts....loved it

The book is in two parts. In the first part, Steidlmayer gives some personal background and tells about how he developed the Market Profile(TM) method as well as gives some insights into why it works based on his experience. He describes points about using his methods before we really know much about what they even are. The concepts are not the usual technical analysis kinds of things. These are new (since about 1981) ways of looking at markets that are based the underlying process viewed with the help of some elementary statistical ideas. The primary concepts involve looking at the time the market spends at a price to determine value. Value is different from price. (Time seems to be a surrogate for volume but volume information was not available generally back when the methods were developed.)In the second part of the book, Steve Hawkins attempts to explain more systematically the concepts of market profile. Some of the terminology is reasonably well explained, but the synthesis of the concepts seems to be lacking. I was not satisfied with the explanations. I felt I had to take his clues and figure out the ideas myself. I frequently found myself rereading passages two or three times to make sure I caught the ideas which were opaquely explained. I hope this is not the best explanation of Market Profile (it is the first book I have read on the topic, but I like it very well). Finally, the last chapter is pure unadulterated and unapologetic promotion of their products. I do not know anything about these, but I think I prefer CQG's graphics to their CapFlow graphics.I would give this book five stars for originality, but only three, or maybe four stars, for clarity of explanation.

Detail and up to the point illustration on Price Action. The explanation on how does price work is valuable for new traders.

Steidlmayer is a genius.And apparently quite a nice gentleman to boot.He respects the markets enough to add to the sum knowledge of the trading community by sharing his brilliant insights into trading.But this book is a bust.Part I is great. It's Steidlmayer telling anecdotes about growing up and getting hooked on the business. Stuff that anybody who has ever traded a one lot, will find fascinating, familiar, and encouraging.Part II is Hawkins doing a darn poor job of explaining concepts that Dalton does far better. But then, when he has completely mystified you with poor logic or bad editing, I know not which, Hawkins makes a great observation and you almost want to forgive him for the confusing style.J. Peter Steilmayer is a genius.Market Profile is brilliant.I read this book.I suppose I am glad I did.But it did not contribute much to my knowledge of MP.It barely covered segmented data.Did a poor job of explaining "market time".ANd it skimmed over Capflow, which is what I really wanted to learn about.You should borrow it from a friend, get it from the library, or look for my edition for sale on Craigslist.

Bill reviews his tools for looking at volume over time. Truly mind expanding for futures trading, allows one to view and trade against the other "time frame participants". If you saw the movie the matrix, you will see a metophor for this approach.

Steidlmayer is outstanding! This book is great & very helpful, an easy reading guide. Highly recommend!

This is the first book I read after I commenced, or attempted to trade, naturally with loss and no success. It has given me a great insight to the market. I build my own Market Profile on a spread sheet and continue to do so. The market shows no sympathy to any trader. I am on a big learning curve that will probably last for years.