Reddit reviews Steidlmayer on Markets: Trading with Market Profile, 2nd Edition
We found 2 Reddit comments about Steidlmayer on Markets: Trading with Market Profile, 2nd Edition. Here are the top ones, ranked by their Reddit score.
Steidlmayer on Markets: Trading with Market Profile, 2nd Edition
Also https://www.amazon.com/Steidlmayer-Markets-Trading-Market-Profile/dp/0471215562/ref=sr_1_7?keywords=market+profile&qid=1574476824&sr=8-7. MoM kind of goes into the deep end without a lot of the "why".
I think understanding where it all comes from - Steidlmayer (who invented it as a floor trader) describes the why of the system. (His understanding of "random" prices falling into a bell curve and "value" buying in ranges with an analogy to Graham + Dodd, external vs. internal market controls, etc.).
As the two point out, most traders start at setups, but then when the setups stop working they don't know why. It's better to start at understanding the market, then creating a setup that works in that market / market environment.
Unlike with stocks ("in play"), the futures markets seem to spend a lot more time in ranges, so you better learn how to trade them if day trading.