Trade What You See: How To Profit from Pattern Recognition

ISBN-13: 9780470106761 / Angielski / Twarda / 2007 / 224 str.

Leslie Jouflas

Opis

Trading the financial markets is extremely difficult, but with the right approach, traders can achieve success. Nobody knows this better than authors Larry Pesavento and Leslie Jouflas, both traders and educators of traders, who have consistently used pattern recognition to capture profits from the markets. In Trade What You See, Pesavento and Jouflas show traders how to identify patterns as they are developing and exactly where to place entry and exit orders. While some patterns derive from the techniques of Wall Street's earliest traders and other patterns reflect Pesavento's emphasis on the geometry of market movements and Fibonacci numbers.. Filled with hard-won knowledge gained through years of market experience, Trade What You Seeoutlines both a practical and sophisticated approach to trading that will be of interest to both novice and seasoned traders alike. Larry Pesavento is a forty-year veteran trader. He operates a Web site,

Recenzje

" should prove valuable to those already practicing technical analysis and who want to take their trading to the next level." ( Investors Chronicle,  Friday 28th March 2008)

Spis treści

Foreword.

Preface.

Acknowledgments.

About the Authors.

Part One. Introduction to Trading with Pattern Recognition.

Chapter 1. Opening Thoughts.

How to Use This Book.

Succeeding or Failing In Trading.

Steps to Take for Successful Trading.

Chapter 2. Geometry of the Patterns and Fibonacci Ratios.

History of Geometry in the Markets.

Fibonacci Ratios.

Applying the Fibonacci Ratios.

Summary.

Chapter 3. Harmonic Numbers and How to Use Them.

Where the Term Harmonic Numbers Originated.

Defining a Harmonic Number.

Vibrations in Price Swings.

Repetition in Price Swings.

Finding Harmonic Numbers.

Harmonic Numbers Found in Other Markets.

Part Two. The Price Patterns and How to Trade Them.

Chapter 4. AB=CD Pattern.

History of the AB=CD Pattern.

AB=CD Pattern Description.

AB=CD Pattern Structure.

Important Characteristics of the AB=CD Pattern.

C Leg Variations.

Slope and Time Frames.

Pattern Psychology.

Trading the AB=CD Pattern.

Market: S&P 500 E–MINI.

# Contracts: 2.

Market: S&P500 E–MINI.

# Contracts: 2.

Market: Wal–Mart (WMT) Stock.

# Shares: 200.

Chapter 5. Gartley "222" Pattern.

History of the Gartley "222" Pattern.

Pattern Description.

Pattern Structure.

Important Characteristics of the Gartley "222" Pattern.

Psychology of the Gartley "222" Pattern.

Trading the Gartley "222" Pattern.

Market: Soybeans.

# Contracts: 2.

Market: Google (GOOG) Stock.

# Shares: 200.

Market: S&P 500 E–Mini.

# Contracts: 2.

Chapter 6. The Butterfly Pattern.

History of the Butterfly Pattern.

Pattern Description.

Pattern Structure.

Important Characteristics of the Butterfly Pattern.

Pattern Psychology.

Trading the Butterfly Pattern.

Market: Pfizer Stock (PFE).

#Shares: 200 (See Alternate Trade Management for using a three part scale out with the Butterfly pattern.).

Market: Crude Oil.

# Contracts: 2.

Market: Euro Futures.

# Contracts: 2.

Chapter 7. The 3 Drive Pattern.

History of the 3 Drive Pattern.

Pattern Description.

Pattern Structure.

Important Characteristics of the 3 Drive Pattern.

Psychology of the 3 Drive Pattern.

Trading the 3 Drive Pattern.

Market: QQQQ Daily.

# Shares: 200.

Market: SP EMINI DAILY CHART.

# Contracts: 3.

Market: Gold Futures.

# Contracts: 2.

Chapter 8. Retracement Entries and Multiple Time Frames.

Fibonacci Retracement Entries.

Pattern Structure.

Trading the Fibonacci Retracement Pattern.

Market: INTC.

# Shares: 200.

Market: QQQQ.

# Shares: 200.

Market: SP Emini.

# Contract: 2.

Opening Price Retracement Setups.

Market Setup for the Opening Price Retracement Trade.

Trading the Opening Price Retracement Setup.

Stock: CTX.

# Shares: 200.

Stock: GS.

# Shares: 200.

Stock: AA.

# Shares: 200.

Multiple Time Frames.

Chapter 9. Classical Technical Analysis Patterns.

A Brief History of Technical Analysis.

Basics of Technical Analysis.

The Double Bottom and Double Top Pattern.

Double Top Pattern.

Head and Shoulders Pattern.

Chapter 10. Learning to Recognize Trend Days.

Identifying a Trend Day.

Patterns Found on Trend Days.

AB=CD Pattern on a Trend Day.

Trend Day Consolidation Pattern.

Fibonacci Ratios on Trend Days.

Controlling Risk on a Trend Day.

Example of Trading a Trend Day.

Market: SP Emini.

Contracts: 2.

Part Three. Essential Elements of Trading.

Chapter 11. Trade Management.

Thinking in Probabilities.

Warning Signs and Confirmation Signs.

Money Management.

Chapter 12: Using Options with the Fibonacci Ratios and Patterns.

Definition of a Call and Put Option.

Factors That Influence the Price of Options.

Controlling Risk with Options.

Examples of Using Options with Extension Patterns.

Chapter 13. Building a Trading Plan.

Trading Plan.

Trading As a Business.

Disaster Plans.

Summary.

Chapter 14. Daily Routines.

Trade Preparation.

Mental Preparation.

Physical Health Preparation

Appendix A. Useful Resources.

Technical Books.

Motivational Books.

Interviews with Traders.

Trading Psychology Books.

Trading Magazines.

Software Sources with Fibonacci Tools.

Trading Related Websites.

Index.

O autorze

LARRY PESAVENTO is a forty–year veteran trader who has one of the most extensive trading libraries in the world. He operates a Web site, www.tradingtutor.com, which provides market analysis for subscribers. Pesavento speaks regularly at trading conferences and is a private trader for a large hedge fund. The pattern recognition approach he uses eliminates the random nature of market action.

LESLIE JOUFLAS has been trading for over ten years and went professional in 2000. She coaches and tutors trading students as well as moderates and runs www.tradingliveonline.com. Jouflas also trades privately managed money as well as her own account.

Blurb

Praise for Trade What You See

"Larry Pesavento and Leslie Jouflas, the quintessential traders of chart patterns and the techniques of past masters of technical trading, have put together a compilation of their studies. Their experience extends over forty years. This book covers the essence of chart patterns trading plus the mental preparation necessary for successful trading. There is something in this book for both the beginner and experienced trader. Highly recommended."
John Hill, President, Futures Truth Co.

"Pesavento′s innovative work has been an invaluable part of our firm′s technical approach. This book covers new ground and should be in every serious trader′s library."
Craig Columbus, President and Chief Market Strategist, Advanced Equities Asset Management

"Larry Pesavento and Leslie Jouflas have done a brilliant job with this book. Whether you are a professional or novice, this is a must–read book to gain more confidence in trading."
Dickson Yap, Publisher, The Trader′s Journal magazine

"An in–depth conversation on overall trading knowledge, even for the advanced traders!"
Dar Wong, Acute Precision & Studies Research Inc.

"Excellent book on pattern recognition technical trading well written and thorough with plenty of good illustrative charts."
Mark Douglas, author, The Disciplined Trader and Trading in the Zone