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In 2007, after a couple of years as a floor trader on the NYMEX, I learned how to be a profitable trader; however, I did not feel like I knew anything about trading. I figured out how to go with order flow and learned the hedge fund roll patterns, but it really concerned me that I would be clueless if I had to trade off the floor. It was common knowledge that electronic trading would soon make open outcry floor trading a thing of the past, and I needed to learn how to trade if I wanted a career in the business.
In June 2007, Jim Dalton gave a 3 day class in the NYMEX building about, what I thought was, trading using the Market Profile. It turned out to be a life changer. It was so much more just using the Market Profile. It was learning to get a holistic view of the marketplace. The most basic things like from what makes the 2 sided auction process work, who the participants are in the trading process to more complicated issues like realizing the importance of understanding trading psychology and getting inside the head of your competitors. That first class was eye opening for me.
By the end of 2007, I had taken 2 more classes taught by Jim Dalton. One of the classes I took was a 5 day INTENSIVE class. The Intensive class was a Monday through Friday, 8 hour a day class. That class entailed pre-open preparation, real time market analysis, post market analysis which includes, breaking down bar charts, the market profile, identifying important reference’s and most importantly, preparing possible scenario’s about what the market may do on the following day, so when it does happen, you know how to react.
Over the past few years, I have read both of Jim Dalton’s books countless times, watched his video’s and taken 9 of his classes, which include 4 seperate week long INTENSIVE classes. I highly recommend visiting Jim Dalton’s website and consider purchasing his books and videos. The hardest part of my learning process was the preparation I needed to do before the market opened. Learning to properly prepare and the discipline it takes to do it each and every day was my biggest obstacle. Now I feel I’m an expert at preparation, and I believe the combination of Jim Dalton’s learning material along with charts and preparation you will find on my website, will expedite your learning curve. I have no vested interest in the sales of Jim's material.