Confessions Of A Market Maker Episode #91: Jim Dalton Sharing His Wisdom of Over 50 Years in the Market-The Godfather of Market Profile
Sep 9, 2022
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Jim Dalton's Market Journey
- Jim Dalton transitioned from the Marine Corps to IBM sales, then Merrill Lynch, eventually joining the Chicago Board Options Exchange in 1973.
- His move to the exchange significantly changed his life and trading career.
Master Self-Awareness in Trading
- Trading requires constant self-understanding and mental toughness, especially in short-term trading.
- Avoid imposing long-term economic views on short-term markets as it often leads to losses.
Understanding Market Inventory Dynamics
- Market inventory can be understood like retail stock levels: too much inventory leads to price drops and too little leads to price increases.
- Large traders watch small traders' inventory imbalances to anticipate market reversals and corrections.