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| DEC 1987
Market Profile and market logic Part 1 by Thomas P. Drinka and Robert L. McNutt
Market Profile and market logic Part 1 by Thomas P. Drinka and Robert L. McNutt Following more than four years of development by J. Peter Steidlmayer and the Chicago Board of Trade, the CBOT Market Profile and Liquidity Data Bank went online in 1985. With the availability of the real-time representation of market activity, the general public now has access to market-generated information which previously had been available only to individuals who traded on exchange floors. As a result, it is now possible to get the ""feel of a market"" without being in the trading pit. The purpose of this article is to briefly explain the manner in which CBOT Market Profile portrays market activity. Many individuals strive to learn trading by following market fundamentals and/or by conducting technical analysis where the general intent may be to trade by some system or formula. The ""market logic"" approach, which is the foundation of the CBOT Market Profile and Liquidity Data Bank, entails understanding what is happening in the market, thinking about it logically and acting accordingly. Because activity is not random, it can be read and interpreted by using the CBOT Market Profile.
by Thomas P. Drinka and Robert L. McNutt
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