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Full Description
A practical guide covering everything the serious trader needs to know While a variety of approaches can be used to analyze financial market behavior and identify potential trading/investing opportunities, no approach is completely accurate. The challenge for traders is to find a method that they feel comfortable with and are able to implement consistently, through the normal ups and downs of trading.
The Trading Course provides you with a detailed description of the methods used to analyze markets, spot profitable trading opportunities, and properly execute trades. Page by page, this book references different trading methodologies, but focuses specifically on applying them when attempting to identify good trades.
Discusses the principles of price behavior, trends, trade set ups, trade execution, and intermarket relationships
Details different trading tools and techniques, including Japanese Candlesticks, Elliott Wave, Dow Theory, momentum indicators, and much more
If you want to become a successful trader, you have to be prepared. This book will show you what it takes to make it in this field and how you can excel without getting overwhelmed.
Contents
Preface xi
Acknowledgments xvii
Part I Foundational Principles 1
Chapter 1 Supremacy of the Trend 3
What is a Trend? 3
Methods for Defining Trends 7
Pinpointing the Trend Reversal in 2009 19
Chapter 2 Momentum's Leading Edge 21
The Science of Momentum 21
Momentum in the Stock Market 23
Gaps Reveal Momentum 24
The Momentum Indicator 26
The Rate of Change Indicator 34
The 3/10 MACD Oscillator 37
Where Momentum Is Strongest 43
Chapter 3 Price Alternation Principle 45
Defining the Principle 45
Price Contraction Phase 47
Price Expansion Phase 49
Viewing the Market as Buyers and Sellers 53
Feedback Loops 55
Choosing the Right Indicators 64
Part II Strategies and Tools 79
Chapter 4 Candlestick Charting 81
Benefits of Using Candlestick Charts 81
Construction of Candlestick Charts 82
Basic Terms Used to Describe Candlesticks 85
Common Signals 87
Three Trading Scenarios 107
A Little Knowledge Goes a Long Way 109
Chapter 5 Examining Price Patterns 111
What Are Price Patterns? 111
Introduction to the Most Popular Patterns 115
Head and Shoulders 116
Inverse Head and Shoulders 121
Bull Flag 125
Triangles 134
Using Price Patterns in the Real World 143
Chapter 6 Fibonacci Tools 145
What Is Fibonacci in Trading? 145
Fibonacci Retracements 147
How to Identify Fibonacci Retracement Confluence Zones 153
The Multiple Uses of Fibonacci Tools 161
Chapter 7 Following the Life Cycle of a Price Move 163
Three Phases of a Large-Scale Price Move 164
Visualizing the Stages through Charts 169
Ralph Elliott's Wave Theory 176
The Three Rules of Elliott Wave 182
Elliott Waves Example: Research in Motion 183
Final Tips for Applying the Life Cycle in Real Time 185
Part III Execution and Trade Setups 187
Chapter 8 Edge, Expectancy, and Execution 189
All about Edge 190
Edging Out Your Expectancy 197
Trade Execution Tactics 208
Chapter 9 Four Basic Trade Setups 219
Common Components of Every Trade 219
How to Classify Trade Setups 228
Mean Reversion Strategies 229
Mean Departure Strategies 240
Where Trades Fit in the Life Cycle 248
Trading Confidently 253
Chapter 10 Specific Trade Setups for Today's Markets 255
The Cradle Trade 255
The Impulse Buy and Impulse Sell Trade 260
Using Multiple Timeframes to Enter an Impulse Buy Trade 265
Concluding Thoughts 270
About the Author 273
Bibliography 275
Index 281
