Long-Term Secrets to Short-Term Trading

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  • Edition: 2nd
  • Format: Hardcover
  • Copyright: 2011-12-06
  • Publisher: Wiley
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Hugely popular market guru updates his popular trading strategy for a post-crisis world From Larry Williams one of the most popular and respected technical analysts of the past four decades Long-Term Secrets to Short-Term Trading, Second Edition provides the blueprint necessary for sound and profitable short-term trading in a post-market meltdown economy. In this updated edition of the evergreen trading book, Williams shares his years of experience as a highly successful short-term trader, while highlighting the advantages and disadvantages of what can be a very fruitful yet potentially dangerous endeavor. Offers market wisdom on a wide range of topics, including chaos, speculation, volatility breakouts, and profit patterns Explains fundamentals such as how the market moves, the three most dominant cycles, when to exit a trade, and how to hold on to winners Includes in-depth analysis of the most effective short-term trading strategies, as well as the authors winning technical indicators Short-term trading offers tremendous upside. At the same time, the practice is also extremely risky. Minimize your risk and maximize your opportunities for success with Larry Williamss Long-Term Secrets to Short-Term Trading, Second Edition.

Author Biography

Larry R. Williams has been trading for almost fifty years and is one of the most highly regarded short-term traders in the world. Larry has taught thousands to trade, won several trading championships, and since 1970 has been writing bestselling books based on his technical indicator, Williams %R, developed in 1966 and still published daily in major financial newspapers and on finance and investing sites. Between trading, researching, and developing trading tools, he ran twice for the U.S. Senate, was a board member of the National Futures Association, and has received numerous awards, including Futures magazine's first Doctor of Futures Award, the Omega Research Lifetime Achievement Award, and Traders International 2005 Trader of the Year. The Mayor of San Diego declared October 6th, 2002 "Larry Williams' Day." Larry has been featured on CNBC and Fox News, and has been interviewed and quoted in more publications than he can keep track of.</p

Table of Contents

Acknowledgmentsp. xi
INTRODUCTION You Are Already a Commodity Traderp. 1
My Most Important Market Beliefp. 4
The Beginning of My Career as a Speculatorp. 5
The Ride of a Lifetimep. 8
Making Order Out of Short-Term Chaosp. 9
How I Learned about the Marketp. 9
Charting the Marketp. 11
The Nonrandom Marketp. 13
Understanding Market Structurep. 15
Market Structure Will Never Changep. 21
Short-Sell Patternp. 27
Target Time and Trailing Stopsp. 28
Recapp. 32
It‚«÷s a Question of Price and Timep. 33
All You Will Ever Need to Know about Cyclesp. 33
The Natural Cycle of Range Changep. 39
Where the Trend Is with You—The Second Power-Play Price Patternp. 50
Recapp. 54
The Real Secret to Short-Term Tradingp. 59
It‚«÷s All about Timep. 61
Bankrolling Hotshot Tradersp. 62
Proving the Pointp. 65
How to Make the Most Moneyp. 68
Recapp. 70
Volatility Breakouts—The Momentum Breakthroughp. 71
Simple Daily Range Breakoutsp. 76
A Look at Volatility in the S&P 500p. 80
Separating Buyers from Sellers to Find Volatility Using Market Swingsp. 95
Resultsp. 96
One Step Furtherp. 97
Recapp. 98
The Theory of Short-Term Tradingp. 99
What Is Wrong about the Information Agep. 103
E. H. Harriman‚«÷s Rule of Making Millionsp. 104
Recapp. 105
Getting Closer to the Truthp. 107
The Market Is Not a Coin Flip: Random Walk or Cootner versus Cohen (Cohen Wins)p. 108
Gold TDOM Studyp. 117
Bond TDOM Studyp. 118
Monthly Road Mapsp. 120
Recapp. 123
Patterns to Profitp. 125
The Common Elementp. 126
The Questions to Askp. 131
My Smash Day Patternsp. 132
How to Use Smash Day Patternsp. 136
Specialists‚«÷ Trapp. 137
A Vital Note—This Works on Shorter Time Frames as Wellp. 141
Oops! This Is Not a Mistakep. 145
S&P Oops! Tradingp. 151
Recapp. 152
Separating the Buyers from the Sellersp. 153
Greatest Swing Valuep. 155
Stock Index Trading with Greatest Swing Valuep. 156
Some Pointersp. 160
Recapp. 161
Short-Term Trading from a Quote Screenp. 163
How a Quote-Screen Trader Makes Moneyp. 165
Swing Points as Trend Change Indicationp. 166
The Three-Bar High/Low Systemp. 167
A New Indicator for Short-Term Traders: Willspreadp. 170
Willspread and the S&P 500 Stock Indexp. 174
Recapp. 180
Special Short-Term Situationsp. 181
Month-End Trading in Stock Indexesp. 181
Target Monthsp. 184
Making It Betterp. 184
Month-End Trading in the Bond Marketp. 186
Getting Specificp. 187
Better and Betterp. 188
A Time to Sellp. 191
Recapp. 193
When to Get Out of Your Tradesp. 195
Thoughts on the Business of Speculationp. 197
Exits before Entriesp. 197
What Speculation Is All Aboutp. 200
It‚«÷s about Timep. 201
Essential Points about Speculationp. 202
Recapp. 215
Money Management—The Keys to the Kingdomp. 217
Most Traders Use a Hit-and-Miss Approachp. 218
Approaches to Money Management—One Is Right for Youp. 218
The Good, the Bad, and the Ugly of Money Managementp. 219
Looking in New Directions, Drawdown as an Assetp. 222
Back to Ralph: 2011 Money Management Breakthroughp. 228
The Kelly Ratio Miragep. 229
Recapp. 233
From Kennedy to Obama, Thoughts from 50 Years of Tradingp. 235
Trading and Collecting Honeyp. 236
Low-Hanging Fruitp. 237
Look before You Leapp. 238
Remember the Game Called Pick Up Sticksp. 238
And It Can Get Worse by Far. . .p. 239
Lock-Up Timep. 240
Enough on Greed . . .Now Let‚«÷s Deal with Fearp. 241
Running, Trading, and Losingp. 242
Doing the Wrong Thing . . . It‚«÷s So Easy, Isn‚«÷t It?p. 242
It‚«÷s Not the Trade, It‚«÷s the Battlep. 243
The Art of Fly-Fishing Revisitedp. 244
Fear and Greed, Looking Them in the Face Againp. 245
Why Most Traders Lose Most of the Timep. 246
A Review of Losing Trades Showed Thatp. 247
The Number One Reason We Lose Money Tradingp. 247
The Most Important Trading Belief You Havep. 248
The Worst Dog I Ever Had Cost Me the Mostp. 249
Athletics Are Such a Parallel to Tradingp. 251
What Causes Stock and Commodity Market Trendsp. 251
How to Measure the Public versus the Prosp. 253
Folks, It Just Can‚«÷t Be Donep. 254
The Rush of Tradingp. 255
Beating Them to the Punchp. 257
It‚«÷s Just Over My Headp. 259
I Looked Fear and Greed in the Facep. 259
The ShowMust Go Onp. 260
Broken Noses, Cauliflower Ears, and Bad Tradesp. 261
Learning How to Lose Moneyp. 262
Hillary, High Hopes, and Heartachesp. 263
Nervous Nellies—Heaven Boundp. 264
Secrets of System Developing and Tradingp. 265
The Difference between Winners and Losersp. 266
Recapp. 268
Just What Does Make the Stock Market Rally?p. 269
Logic 101p. 270
These Words Are My Bondp. 270
A Look at Data A and Data Bp. 270
Let‚«÷s Break Some Bad Habitsp. 273
How to Break Bad Habitsp. 273
Comments on Setting Stops—Dollar Loss and Unpredictabilityp. 275
An Overview of How I Tradep. 278
My Trading Strategy . . .How It Worksp. 282
Recapp. 285
Hard Facts about a Very Hard Game to Winp. 287
It Is Just Like Lifep. 289
Maybe You Are Not Cut Out for This . . .p. 292
You Are in a Tough Spot . . .p. 293
But There‚«÷s a Little Bit More. . .p. 294
In Closingp. 295
Indexp. 297
Table of Contents provided by Publisher. All Rights Reserved.

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