Tuesday, April 22, 2008

Free Webinar This Thursday

Dear Readers,

I'm pleased to announce that, after the stock market close this Thursday (3:30 PM CT), I will be offering a free Webinar on the topic of "Reading the Psychology of the Market" hosted by Bill Duryea and the Institute of Auction Market Theory (IOAMT). I'll be delivering the session from the Chicago Board of Trade offices of Trevor Harnett, the developer of Market Delta, who will assist with the program. Access to the Webinar will be available to those who sign up for a free five-day trial membership to Bill's real-time trading room. It's a great opportunity to experience trading education in real time. During the trial period, as part of the trading room, Trevor will be conducting free educational programming regarding the use of Market Delta. Please note that he is also offering a free 30-day subscription to Market Delta--an excellent opportunity to kick the tires and see how the program works across different market conditions.

Before I launch into a description of the session, just a few disclaimers: I have no commercial ties to IOAMT or Market Delta and have insisted on receiving no compensation for the Webinar. Bill and Trevor offer services that I feel are of value to traders, so I'm happy to support their efforts. I've been a Market Delta subscriber for years and have found it to be a useful tool in reading volume/sentiment patterns in the market. A number of traders have reported positive things to me about the real-time trading room run by Bill--particularly his integration of Market Profile, Market Delta, and intraday trading principles. From my end, the Webinar is a vehicle for offering quality education to traders; I don't use it to solicit business personally, and I don't receive any compensation or consideration from IOAMT or Market Delta for my participation.

It's a shame I have to offer such disclaimers, but it's in response to the crass commercialism that dominates offerings in "trader education". So many programs are little more than infomercials. The Thursday Webinar will not be an infomercial!

The Webinar will run 1 hour in length, with time for questions/answers at the end. The focus will be on the psychology of the market--reading supply and demand as they unfold during the trading day--not so much on the psychology of traders themselves. Among the topics I'll touch upon are reading patterns across indexes and patterns in the NYSE TICK and Market Delta.

I have found--personally and in my work with developing traders--that Market Profile is an excellent conceptual framework for understanding what markets are doing and why. It's also a practical framework for thinking about price and volume relationships and when market moves are likely to extend vs. retrace. The integration of very short-term supply/demand analysis from Market Delta alongside the longer-term analysis of value from Market Profile yields many sound trading ideas and plans. The idea is to know *what* to do, but also *why* to do it. That yields mastery.

Look forward to seeing you on Thursday! As always, thanks for your interest--