30 Days to Market Mastery: A Step by Step Guide to Profitable Trading

Overview

The nature?as well as the structure?of financialmarkets around the world has changed dramatically over the pastthirty years. The fact is, we no longer live in a world ofdisconnected markets; rather, we live in a world that isintricately intertwined and interdependent. And while thevolatility and large daily price swings that are characteristic ofthis environment have opened the door to huge trading profits, theyhave also brought with them substantial risks.

With more than ...

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Overview

The nature—as well as the structure—of financialmarkets around the world has changed dramatically over the pastthirty years. The fact is, we no longer live in a world ofdisconnected markets; rather, we live in a world that isintricately intertwined and interdependent. And while thevolatility and large daily price swings that are characteristic ofthis environment have opened the door to huge trading profits, theyhave also brought with them substantial risks.

With more than thirty-five years of experience as a trader,analyst, and teacher of traders, author Jacob Bernstein knows whatit takes to make it in today's markets. He believes that with theright tools and motivation, you can become a consistentlyprofitable trader, and with 30 Days to Market Mastery he wants toshow you how.

Divided by chapter into twenty-two specific trading lessons, 30Days to Market Mastery outlines a profitable approach to tradingthat has proven itself time and again—especially when used totrade stocks, commodities, and futures.

Filled with in-depth insights and expert advice, thiscomprehensive guide opens with a detailed discussion of how toproperly structure your trades and outlines the three essentialelements of this process—the set-up, trigger, andfollow-through (S-T-F). From there, you'll be introduced to thetools you can use in conjunction with the S-T-F structure toachieve maximum returns.

  • Seasonality
  • Momentum
  • Moving averages
  • Price patterns
  • Short-term breakouts
  • The Commitment of Traders (COT) Report

With a firm understanding of these issues in hand, 30 Days toMarket Mastery will round out your education in this field byaddressing why it's important to diversify across markets and timeframes; and examining how psychological pitfalls can cause you totake losses no matter how good your systems, methods, or indicatorsmay be.

You don't need a degree in finance, banking, or economics toobtain your financial freedom. What you do need is the disciplineto make the right decisions and the determination to stick withthem. 30 Days to Market Mastery can show you how to do this, andmuch more, by providing you with the organizational, analytical,and behavioral skills needed to achieve success in today's dynamicmarkets.

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Product Details

  • ISBN-13: 9780470109878
  • Publisher: Wiley
  • Publication date: 4/20/2007
  • Series: Wiley Trading Series, #304
  • Edition number: 1
  • Pages: 207
  • Product dimensions: 6.46 (w) x 9.29 (h) x 0.92 (d)

Meet the Author

Jacob Bernstein has been a leading author and educator in the trading world for over thirty-five years. He is also President and CEO of MBH Commodity Advisors, Inc., as well as Chief Market Strategist and publisher of the MBH Weekly Futures Trading Letter. Bernstein's clients include some of the most well-known financial institutions, brokerage firms, hedge funds, and professional traders in the world. Bernstein has pioneered methodologies in market forecasting, cyclical patterns, and seasonal indicators. His proprietary trading techniques include: Jake Bernstein's Key-Date Seasonal Analysis, the Daily Sentiment Index, and the MAC Method. Bernstein has appeared on numerous national radio and television programs, and is frequently quoted in the financial press.

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Table of Contents

Preface ix

Acknowledgments xi

Introduction xiii

LESSON 1, DAY 1 The Structure of a Trade 1

LESSON 2, DAY 2 Setup, Trigger, and Follow-through: The Basics9

LESSON 3, DAY 3 Seasonality and High-Odds Seasonal Setups 21

LESSON 4, DAY 4 The Seasonal Trigger 31

LESSON 5, DAY 5 Follow-Through 41

LESSON 6, DAY 6 Trading the Power Momentum Formula (PMF) 51

LESSON 7, DAY 7 Power Momentum Formula (PMF) Trigger 61

LESSON 8, DAY 8 PMF: Follow-through: Part I 69

LESSON 9, DAY 9 PMF: Follow-through: Part II 77

LESSON 10, DAY 10 Using the Moving Average Channel: Part I85

LESSON 11, DAY 11 Using the Moving Average Channel: Part II91

LESSON 12, DAY 12 Three Powerful Price Patterns: Part I 99

LESSON 13, DAY 13 Three Powerful Price Patterns: Part II 109

LESSON 14, DAY 14 Three Powerful Price Patterns: Part III117

LESSON 15, DAY 15 The Eight-Bar Open/Close Pattern and How toUse It 125

LESSON 16, DAYS 16–17 Understanding and Using theCommitment of Traders Report: Part I 133

LESSON 17, DAYS 18–19 Commitment of Traders Report PartII: Triggers 141

LESSON 18, DAYS 20–21 The Advanced 30-Minute Breakout forS&P and E-Mini Trading 151

LESSON 19, DAYS 22–24 How to Structure Your TradingPortfolio for Maximum and Consistent Gains 159

LESSON 20, DAYS 25–27 Diversification 167

LESSON 21, DAY 28 Putting It All Together 173

LESSON 22, DAYS 29–30 The Psychology and Discipline ofTrading 177

Index 195

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