How to trade.
The vocabulary of the auction. Watch in order. By the end of Vol. I you will read a profile the same way the desk does — and you will know what the desk knows about the difference between a trade and a setup.
What Auction Market Theory Actually Is
Markets are a two-way auction searching for fair value. We replace the chart with a profile so price becomes a record of time spent, not just a line.
Reading the Point of Control (POC)
The single price level where the most volume traded in a session. Why the POC is the gravitational center of the day — and what a migrating POC means.
Value Area High & Low
70% of the session's volume by definition. VAH and VAL are the edges of fair. Outside that range you are by definition in a price discovery zone.
The Initial Balance
The first hour of the RTH session sets the range that everything else is measured against. Why the IB is the day's frame.
VPOC vs POC — What's the Difference
TPO POC vs. Volume POC. Time at price vs. volume at price. Why both matter and how to read them together.