Volume Profile, Market Profile, Order Flow

Profile Zone and Order Flow Analysis in Day Trading

This book introduces readers to the core principles of auction theory and Order Flow analysis — opening the door to an unbiased assessment of market activity. Information generated by the market itself is combined here, in its raw, unfiltered form, into a coherent analytical picture.

Not a Trading System — a Way of Thinking

The approaches presented are not rigid trading systems to be applied mechanically like an indicator — and accordingly offer no guarantee of success. Only the combination of auction theory, basic chart-reading knowledge, and contextual thinking gives traders effective tools to assess market situations in a more structured way.

What Readers Will Take Away

• Understanding of modern market behavior and the role of different market participants
• Core concepts of auction theory and initial interpretations of market and volume profile
• Order Flow analysis methods: order book, Footprint charts, Delta variants
• Locating price zones with elevated activity and linking different time frames
• Recognizing chart structures, opening phases, and institutional displacement tactics
• Analysis of "Fake Moves" and chart-based deception patterns
• Fundamentals of risk and trade management, as well as trading psychology

The overarching goal: developing market understanding — not by stacking ready-made setups, but through consistent observation, growing experience, and independent thinking.

Table of Contents

Foundations
Preface · Introduction · The Advantages of Futures · Trading Instruments · Market Participants — other-timeframe traders, retail traders, the day trader's role

Profiles & Market Structure
Market Profile Overview · What Is a Volume Profile? · The Value Area · Profile Structures · Representing Profiles — fixed and flexible profiles, POC shift, trend signal · Bounce Backs · Starting Zones of Significant Price Moves — accumulation, continuation patterns, rejections

Technology & Preparation
Hardware, Software, Data Feed · Order Flow Analysis — order book, Footprint charts, trapped traders, Delta · Preparation — volatility check, economic data, session planning · Liquidity and Volatility · Characteristics of Individual Instruments

Practice
Opening Types — Out-of-Balance and In-Balance · Market Profile Part 2 — interpretation, filters, lower timeframe · Filtering the Ledge · Broadening Tops — a warning signal · Complete Examples — Yen, E-Mini S&P, FDAX, Bund, Crude Oil, Gold, Bitcoin, and more · Market or Volume Profile? · Summary

Bonus Section

Further Questions Worth Asking · Fake Moves — fading myths, Backfire Pattern, H&S fakes, stop-running zones · What Is a Trend? · Trading Psychology · Why Trading Systems Don't Work · Trade and Risk Management · Hybrid Trading — combining day and swing trading · Closing Remarks & Bibliography

Reader Reviews

"Top book and everything needed for trading. Read the book, work through it in writing, then build a workspace in ATAS. After that comes the biggest and hardest part — the human factor and emotional reactions: no risk management, no trading journal, no discipline. Everyone knows this, but it's often suppressed."
— SASCHAO, verified review (Amazon)

"Having read many books, I have to be honest — this is the best one I've read! The way volume and Order Flow are explained here is practically unmatched in any other German-language book. I'm a trader myself — this book noticeably improved my knowledge! It's really not for beginners though — some trading experience is needed."
— Verified review (Amazon)

About the Author

Johannes Forthmann is a German economist with more than 25 years of experience in day trading. From 2001 to 2005, he trained under US trading veteran Joe Ross. He worked for a Swiss trading house on futures hedging strategies and founded a European educational publishing house in 2020, along with an online day trading academy.

 

☝🏻10% off with promo code VMOATAS10