Product Description
Examines fifteen trading systems, discusses the principles and background of each system, and explains when to apply each technique.
From the Author
Details How to Apply Indicators to Make Good DecisionsThis book was the first book I wrote on the markets. I wrote this book in 1988 and the lessons and information from this book are even more valid today than they were back then. Why is this so? Market truths span across time, independent of what is topical today. What was true yesterday is still true today. What is correct trading yesterday is still correct trading today. Readers of this book will find that I take each indicator and apply them to market action. In the process I point out what the indicator's weaknesses and strengths are. In retrospect, this process of writing was extremely tedious. In this manner the reader will learn to think correctly when applying these more difficult trading indicators to the markets. I elected to do so because when I was trading for my own accounts at the Chicago Board of Trade, MidAmerica Commodity Exchange, Chicago Board Options Exchange, etc., for over 15 years, I read and studied books which claimed to be informative and helpful. These books were neither informative nor helpful. So, I said to myself that I wanted to write a book that would truly explain how to use these indicators. There are over ten chapters on indicators. I made it a point to apply each indicator to three different market situation. This book contains a chapter on Swing Trading. This method was pioneered by William D. Gann, but modified and made more profitable by me. I used this method to day trade bonds when I was a floor member of the Chicago Board of Trade. I MADE A LOT OF MONEY FOR MY OWN ACCOUNT WHEN I DID THIS. Since then, others have taken my approach and modified and taken credit for my discoveries. Also, this book was the first book to ever be so gutsy as to forecast an imminent price reversal 660 days in advance. (In Chapter 13 I applied financial astrological techniques to forecasting a US Bond move 660 days in advance. The book was printed in 1988 but I forecasted Bonds to top out on August 2, 1989. On August 1, 1989, bond prices hit a peak high and dropped precipitously five points! In addition I forecasted what IBM had to do in order to survive. It didn't and it suffered serious consequences.) To make it easier for the reader to discern when and under what conditions to apply indicators I created a table of "Indicator Psychology" and delineate stages of market action in which certain indicators function the best. This table is a full two pages wide and puts all the indicators in perspective. In the process of doing so, I tell, by default, when these indicators do NOT work! If the reader wants details on how to calculate indicators and apply them, this book is for him or her. The details in this over-450 page book is so precise that many readers have thanked me. This book has sold over 25,000 copies (as of this review) in its life and is considered a seminal work by industry experts and writers in technical analysis. I guess this book really established me as a writer in the field of technical analysis. Readers of this book will find this book helpful and financially rewarding. Over 25,000 worldwide readers can't be wrong.
