Join Bill Duryea, founder of the Institute of Auction Market Theory (IOAMT), for this live online session outlining the components of cognitive trading.
The ability to balance your psychological emotions and your analysis and interpretation of market behavior is the essence of cognitive trading. It consists of understanding how markets work, behavioral patterns of the market participants and your emotional response to market activity.
Understanding how the market works (auction market theory) provides the basis for anticipating market direction. Observation of your emotional response to market activity represents the individual performance aspect of the discipline.
Analyzing the market at the end of the session or after the day structure has formed is one thing -- knowing what to do in the moment is another.
The final stage is being able to execute the trade. It all comes down to you acting on what you know. Even if your depth of understanding is vast, if you have personal issues, such as fear of loss and compulsive over trading then it is likely to be reflected in your P&L.
William Duryea is the founder of the Institute Of Auction Market Theory and a professional trader of the ES for over 12 years. He has conducted seminars nationwide teaching Market Profile. He has been a guest speaker of the CME, CBOT, ICE, Denver Trading Group and a regular featured speaker at industry tradeshows. To learn more about IOAMT and to hear Bill moderate and trade the S&P500 daily in our Live Trading room, visit IOMAT.
