Trading Tools and Tactics, + Website Reading the Mind of the Market

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2011-08-09
  • Publisher: Wiley
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A practical trading guide that focuses on price movement without the endless selection of indicators that attempt to determine the direction of those price movementsSuccessful trading is not only about identifying price moves, but also about understanding why prices move as they do. Many trading books present esoteric concepts, complicated indicators, or proprietary systems that miss the mark when it comes to using this approach in real-world situations. Technical analysis is simply a reflection of others' actions, their thoughts and expectations. Viewed in this way, it opens a deeper understanding of technical analysis and how the markets move.From concept to practical execution, Trading Tools and Tactics seeks to overcome this frequent obstacle to success. It covers everything from setting entries, stops and managing trades to knowing how to read others' mistakes and turn them into profits. Throughout these pages author Greg Capra-President and CEO of Pristine Capital Holdings-shows beginning to advanced traders how to accurately identify trends, candle patterns, support and resistance, as well as which time frames offer the best opportunity to take profits. Details a straightforward systematic way to accurately identify market lows and highs Highlights how to find turning points-by understanding a simple, systematic way of determining where the big money and smart traders will take positions Author Greg Capra is the founder of the nation's leading online trading education company and has been teaching students for almost twenty yearsTechnical analysis based on price movements is the only truth in markets. With Trading Tools and Tactics as your guide, you'll quickly discover how paying attention to what the price tells you will increase your trading profits.

Author Biography

Greg Capra is president and CEO of Pristine Capital Holdings, Inc., the nation’s leading educational service for self-directed traders. He has 15 years of experience as a day trader and swing trader.
Many years ago, Capra realized how to collect valuable intra-day information from stock quotes and store them into an orderly computerized system. He utilized a program called SuperTic to track
and evaluate this information, which led him to his pursuit of intra- day trading tactics.

In those days, free online stock charts and quotes were not widely available, and institutional traders had a great advantage over the individual trader. Today, the playing field is more level. Capra saw
an opportunity to build an educational and research firm for selfdirected, independent traders. This meant that ordinary people could now possess a sophisticated level of research on par with institutional traders and hedge funds.

Capra developed The Pristine Swing Trader, an advisory newsletter with over 60,000 subscribers, and is co-author of the book, Tools and Tactics for the Master Day Trader (McGraw-Hill, 2000). Pristine.com was founded in 1994 and combines publication-based education with seminars and education services aimed at helping traders gain an intuitive understanding of the markets. Over 400 seminars are conducted each year around the world.

Before founding Pristine, Capra spent 15 years running his own business. Since founding Pristine.com, his desire has been to educate the individual investor in quantitative analysis of market movements.

Table of Contents

Introduction: The Journey Beginsp. xi
Subjective Doesn't Work in the Market: Technical Analysis Is the Objective Standardp. 1
The Guru Syndromep. 1
The Pitfalls of Fundamental Analysisp. 2
Technical Indicators: Adding Subjectivity to the Chartp. 5
Approaching the Markets Objectivelyp. 8
In Summaryp. 14
Candlestick Analysis: Using the Language of Candles to Profit from Market Movesp. 17
A Single Candlep. 18
Multiple Candle Formationsp. 21
Failure Is Not Always Badp. 29
In Summaryp. 31
Support and Resistance: Price Is Kingp. 33
Price Patternsp. 33
Recognizing Reference Pointsp. 36
The Two Forms of Support and Resistance: Major and Minorp. 40
How Support and Resistance Areas Formp. 46
In Summaryp. 56
Moving Averages the Right Way: Visual Aids to Price Actionp. 57
A Valuable Technical Measurementp. 57
Convergence Can Helpp. 63
Moving Averages as Focal Areasp. 67
Staying Objectivep. 69
A Few Good Rules While Using Moving Averagesp. 74
Other Points to Considerp. 75
Moving Averages to Find Playsp. 78
In Summaryp. 79
Volume Is Money: Commitment to Pricesp. 81
The Fallacies of Volumep. 81
Using Volume Properlyp. 85
The Primary Uses of Volumep. 87
Volume As It Relates to Tradabilityp. 98
In Summaryp. 101
Retracement Analysis: Using Retracement Analysis to Continue Your Movep. 103
The Concept of Retracementsp. 103
To Retrace or Not to Retrace?p. 106
Retracements Imply a Trendp. 107
Continuing To Keep It Objectivep. 111
What Lies Beyondp. 60
Percent?p. 111
Retracement Levels in Downtrendsp. 114
A Special Retracement Patternp. 115
Retracement Levels in Sideways Trendsp. 117
What Lies Beyondp. 100
Percent?p. 118
The Bigger Picturep. 121
In Summaryp. 123
Bar-by-Bar Analysis: Each Bar Tells Us Somethingp. 125
Objectivity Is Still the Goalp. 126
A Quick Review of Individual Barsp. 126
How the Bars Interactp. 128
Additional Thoughtsp. 135
In Summaryp. 137
Market Internals: Examining the Direction of the Marketp. 139
Determining Price Movementp. 141
When to Be Differentp. 143
Favorite Market Internalsp. 143
A Quick Overview of Intermarket Analysisp. 157
In Summaryp. 158
Relative Strength: Relative Strength Definedp. 159
Identifying Different Types of Relative Strengthp. 160
Is Relative Strength Always Good?p. 166
Relative Strength and Weakness with Morning Gapsp. 170
Relative Strength with Sector Analysisp. 172
Relative Strength to Market Internalsp. 173
In Summaryp. 174
The Trend Is Your Friend: There Are Only Three Directionsp. 177
What Makes a Trend?p. 178
Pivotsp. 178
When Pivots Come Togetherp. 182
Some Subjective Guidancep. 186
Keeping It Cleanp. 188
Checking the Reactionp. 192
Final Thoughtsp. 198
In Summaryp. 200
Shoot the Gap: What Is a Gap?p. 203
What Causes a Gap?p. 206
Fallacies about Gapsp. 207
Gaps and the Daily Chartp. 209
The Intraday Playp. 214
In Summaryp. 219
Frame-by-Frame: The Concept of Multiple Time Framesp. 221
Which Time Frames?p. 221
The First Goal of Using Multiple Time Framesp. 223
A Powerful Concept Emergesp. 228
Warning Signs in the Micro Trendp. 230
Hidden Patternsp. 233
In Summaryp. 236
Making Failure Work for You: Recognizing When Patterns Failp. 239
Did the Play Stop, or Did the Pattern Fail?p. 241
When Good Patterns Failp. 242
Capitalizing on Predictable Failuresp. 246
Expected (or Unexpected) Failurep. 248
In Summaryp. 250
Manage the Trade and the Money: The Missing Linkp. 253
Managing the Money-Share Sizep. 253
How Much to Riskp. 257
Managing the Money-Throughout the Dayp. 259
Considerations When Swing Tradingp. 260
Basic Trade Management Conceptsp. 262
Managing the Trade-Staying with the Trendp. 264
Managing the Trade-Zooming Downp. 265
In Summaryp. 267
Getting Through a Typical Trading Day: Strategies to Incorporate into Your Daily Routinep. 271
Beginning Your Dayp. 271
Planning Your Trade, Trading Your Planp. 273
After the Closep. 275
Maximizing the Winners, and Handling the Losers Properlyp. 277
There Is Only One Truth in the Marketsp. 279
Price Is Kingp. 279
Abbreviationsp. 283
Trade Typesp. 285
Glossaryp. 287
About the Companion Websitep. 299
Indexp. 301
Table of Contents provided by Publisher. All Rights Reserved.

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