Understanding the Auction Market and the Value of Market Profile - Tom Alexander

In this episode, https://www.alexandertrading.com/ (Tom Alexander) goes in depth on the benefits of viewing markets through the lens of the auction process, using the market profile chart as a tool for viewing the auction and analyzing the market and outlines the common denominators of successful traders. 
[06:53] - Despite all the changes in the market over time, the auction process hasn't changed; which the market profile chart reveals, making it the most robust and objective way to analyze the market.
[08:15] - Why Market Profile should be used as a tool for understanding the market and not as a trading system
[16:32] - The number one reason traders fail is confirmation bias - they get overly invested in their beliefs
Common Denominators of Successful Traders:[18:23] - They remember the goal is to be a profitable trader, so stay open minded and not overly invested in their beliefs
[20:19] - Resist confirmation bias and keep robust records of all trades, even the losing ones
[23:53] - They’re patient and trade opportunistically rather than relying on trading a single market

[26:56] - Why it's important to focus on the fundamentals... the blocking and tackling of trading
[29:22] - How information overload has changed trading
To learn more about Tom and Alexander Trading check outhttps://www.alexandertrading.com/ ( www.alexandertrading.com). https://www.dante32.com/ (Podcast episode production by Dante32.)

In this episode, Tom Alexander goes in depth on the benefits of viewing markets through the lens of the auction process, using the market profile chart as a tool for viewing the auction and analyzing the market and outlines the common denominators of successful traders. 

[06:53] - Despite all the changes in the market over time, the auction process hasn't changed; which the market profile chart reveals, making it the most robust and objective way to analyze the market.[08:15] - Why Market Profile should be used as a tool for understanding the market and not as a trading system[16:32] - The number one reason traders fail is confirmation bias - they get overly invested in their beliefsCommon Denominators of Successful Traders:[18:23] - They remember the goal is to be a profitable trader, so stay open minded and not overly invested in their beliefs[20:19] - Resist confirmation bias and keep robust records of all trades, even the losing ones[23:53] - They’re patient and trade opportunistically rather than relying on trading a single market[26:56] - Why it's important to focus on the fundamentals... the blocking and tackling of trading[29:22] - How information overload has changed trading

To learn more about Tom and Alexander Trading check out www.alexandertrading.com. 

Podcast episode production by Dante32.