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Book: Steidlmayer on Markets: Trading with Market Profile, 2nd Edition :: Book
Date: Friday, 09 January, 2009 :: 08:52
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Steidlmayer on Markets: Trading with Market Profile, 2nd Edition
List Price: USD $70.00
from USD $41.00
Product Group: book
Manufacturer: Wiley
Studio: Wiley
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Editorial Review: Product Description
"Anyone serious about market profile should read Steidlmayer on Markets, Second Edition. Pete and Steve have done their most advanced work yet to create an objective perspective from which to manage risk."
–John Helmers
Senior Portfolio Manager, Tudor Investment Corp. "I recall Pete Steidlmayer’s pioneering work with the futures markets in the 1980s, in particular his discovery of ‘the natural organization of the market’ in accordance with the price/time relationship: Price + Time = Value. In this important new work, Pete takes us on a journey from his childhood discovery of the key concepts of order and personal control, to his early days developing Market Profile? at the CBOT, to his up-to-the-minute ideas on trading, technology, and the future. And as a stock trader I found the concrete examples of Market Profile? applications to individual stocks to be particularly gratifying."
–Bernie Schaeffer
Chairman and Chief Executive Officer, Schaeffer’s Investment Research, Inc. "Steidlmayer and Hawkins capitalize on past successes while taking a useful tool one step further, and have filled a tall order. In the crowded arena of books on trading, they offer insight and unique trading tools the professional trader can incorporate into their trading program. This book offers insightful technical tools that add real value."
–Matthew Chamberlin
Senior Trader, SAC Capital Management, LLC "I have been using Market Profile? extensively for fifteen years. Pete and Steve are visionaries in their field. Timeless organization of market data allows Market Profile? to be applicable to all markets in any type of trading environment. With this blueprint, trading becomes more objective and consistently successful results can be obtained. Steidlmayer on Markets is a must-read for any trader looking to achieve long-term success."
–William Griffo
Director, UBS Warburg
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Reviews:
Average Customer Review: 
Summary: great ideas with only fair explanations
Date: 2008-06-09 - 
Comment: 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.
4 of 5 people found the following review helpful:
Summary: A New Understanding to the Markets
Date: 2006-06-01 -
Comment: This is an excellent read and well worth the investment. It will give any trader a better understanding of why markets do what they do. This book does not give a specific trading strategy (which was one of the things I was looking for) but rather insight into a tool that will support your trading and help you make decisions. This is the type of tool that the pros use. My biggest disappointment is the acknowledgement that Market Profile doesn't work like it used to, now you need new sophisticated tools and techniques that leverage Market Profile data as a starting point, which is convenient because the authors happen to have the software to do just that, Capflow32.
5 of 13 people found the following review helpful:
Summary: The great book to start day trading
Date: 2005-02-24 - 
Comment: This book can help to to identify the pattern in the market and trade the trend. However, the real time data and the program to give a graphical layout may not be easily obtained.
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