A Complete Guide to Technical Trading Tactics: How to Profit Using Pivot Points, Candlesticks & Other Indicators

( 6 )

Overview

Are you looking for time-tested trading techniques that professional stock index and futures traders use?

Futures and options markets can be profitable arenas for both novice and experienced traders. But to come out on top, you must have a solid understanding of the markets, the technical tools used to trade them, and yourself.

After twenty-five years as abroker, trader, and educator in the futures and options field, John Person has associated ...

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A Complete Guide to Technical Trading Tactics: How to Profit Using Pivot Points, Candlesticks & Other Indicators

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Overview

Are you looking for time-tested trading techniques that professional stock index and futures traders use?

Futures and options markets can be profitable arenas for both novice and experienced traders. But to come out on top, you must have a solid understanding of the markets, the technical tools used to trade them, and yourself.

After twenty-five years as abroker, trader, and educator in the futures and options field, John Person has associated with trading legends and manysuccessful traders and witnessed firsthand their strategies for success. Out of these real-time experiences, he shares the valuable insights you will find in A Complete Guide to Technical Trading Tactics. Novice and experienced alike will gain a better understanding of the mechanics of the markets and methodologies that work.

Person demonstrates multiple trading methodologies using pivot point analysis and shows you how you can implement these key calculations with other methods and indicators. To understand this approach, you don’t have to abandon your knowledge of traditional technical analysis techniques. All you have to do is be open to integrating the theories to help you confirm, validate, and identify entry and exit points when trading.

By learning how to better integrate elements of market analysis such as time and price, you’ll be ready to trade with confidence and achieve success. The proven methodologies that are discussed from the technical side include:

  • Pivot points–a leading price indicator that is based on price points using different time frames
  • Cycle analysis–which deals with predicting market turning points based on time
  • Candle chart patterns–which are based on price relationships between the open, high, low, and close including past chart points such as old highs or lows
  • Fibonacci ratio corrections and extension studies–which are based on past price points
  • Mental thought processes–the last and maybe the most important aspect of trading, which will help you evaluate your psychological makeup and overcomerough spots to stay focused when trading

If you are to trade successfully, you need to understand that it requires hard work, discipline, and, above all, that you remain focused with the use of methodologies that pinpoint opportunities and help you take control of your emotions. A Complete Guide to Technical Trading Tactics will go a long way toward accomplishing these goals.

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Product Details

  • ISBN-13: 9780471584551
  • Publisher: Wiley
  • Publication date: 4/21/2004
  • Series: Wiley Trading Series, #217
  • Edition number: 1
  • Pages: 288
  • Sales rank: 801,777
  • Product dimensions: 6.36 (w) x 9.23 (h) x 1.04 (d)

Meet the Author

JOHN L. PERSON is a registered Commodity Trading Advisor who publishes The Bottom Line Financial and Futures Newsletter, a weekly publication.John hosts his own financial radio show where he interviews some of the country’s top analysts and traders. These interviews are archived on his Web site www.nationalfutures.com. He is widely quoted by CBS Market Watch,Reuters, Dow Jones Newswires, Bloomberg, the BBC, Futures magazine,and appears as a guest onCNBC. He teaches these techniques atsome of the country’s leading investment expos andconducts seminars from coast to coast. He was invited by the Chicago Board of Trade to contribute his daily market commentaries, which can be found at www.cbot.com/dow.

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Table of Contents

Preface ix

Acknowledgments xv

CHAPTER 1 Introduction to Futures and Options:Understanding the Mechanics 1

How the markets work, the elevator analogy, product for the times, important terminology such as margin, contract specifications, and leverage

CHAPTER 2 Fundamentals: The Market Driver 19

Supply and demand issues, economic growth and productivity effects, major economic reports and their in role in market prices

CHAPTER 3 Technical Analysis: The Art of Charts 33

Western-style bar charts and key reversals, point-and-figure charts that focus only on price, market profiling, price and time analysis

CHAPTER 4 Candle Charts: Lighting the Path 43

Enlightening charting technique and its colorfully named patterns—hammers, stars, spinning tops, dojis, hanging man, and others—powerful reversal patterns, reliable continuation patterns, key examples in the dollar and bonds

CHAPTER 5 Chart Analysis: Volume, Open Interest, Price Patterns 67

Volume and open interest rules for traders, M tops and W bottoms, trend lines, measuring patterns, the head-and-shoulders, triangles, pennants and flags, diamonds, wedges, funnels, gaps, islands, rounded bottoms, oops signals, opening range breakouts

CHAPTER 6 Pivot Point Analysis: A Powerful Weapon 93

The pivot point formula for target trading, calculating support and resistance levels, importance of multiple verification from several sources, the P3T trading technique, weekly and monthly charts and numbers, risk management techniques

CHAPTER 7 Day-Trading, Swing Trading: Acting on Analysis 113

Trading to bounce off target numbers, calling tops and bottoms, weekly chart magnets, harami cross and other candle clues to market reversals, pivot points save the day, lining up the stars, the verify-verify-verify approach

CHAPTER 8 Technical Indicators: Confirming Evidence 135

Moving averages and trends, simple rules with averages, tweaking and visualizing MACD, stochastics, false signals, Gann’s key numbers, Fibonacci ratios and projections, time counts for cycles, Elliott wave and its clues

CHAPTER 9 Market Sentiment: What Traders Are Thinking 161

Getting a market consensus from contrary opinion, Commitments of Traders reports, margin rate changes, Market Vane Bullish Consensus report, put-to-call ratios, volatility index (VIX), when the boat is tipping over, media effect

CHAPTER 10 Order Placement: Executing the Plan 171

Importance of getting an order right, online platform concerns, impact of market conditions on orders, 14 top order entry selections you need to know, orders in after-hours trading, spreading concepts

CHAPTER 11 The Mental Game: Inside the Trader 189

Conquering fear, learning discipline, improving confidence, suggestions for success, I’ll-think-about-it syndrome, the paper trader, fear and greed factors, becoming a specialist, setting up an investment diary, setting a positive mind frame, dealing with adrenaline, establishing goals, positive affirmations, stress relief techniques, rewarding success to build success

CHAPTER 12 The Tactical Trader: Tips and Techniques That Work 203

Pyramiding approaches, scale trading, stop reversals, breakouts, momentum trading, the Friday 10:30 a.m. rule, stop placement near a magnet, trading multiple contracts

CHAPTER 13 Options: A Primer 217

What options are and how to use them with futures, simple puts and calls, options premiums, the Greeks, comparison shopping, strangles and straddles, eight top option spreads, delta neutral techniques

CHAPTER 14 Closing Bell: My Top 10 List 235

What the experts suggest, top 10 trading thoughts, measuring success

Glossary 241

Bibliography 253

Index 255

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Customer Reviews

Average Rating 4.5
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Sort by: Showing all of 6 Customer Reviews
  • Anonymous

    Posted May 28, 2004

    Excellent in every way.

    I started my career reading books from the likes of John J. Murphy, Steve Nison, McMillan, Elder, Bulkowski, etc... This book can sit on my shelf in equal company from each of these other great analysts. Thanks for your insight and guidance John, it is sincerely appreciated. I especially enjoyed the section on Pivot Points. I've not seen that published anywhere else. Sincerely, LT

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  • Anonymous

    Posted May 25, 2004

    Wealth Builder, these trading techniques worked, very powerful!

    Unbelievable concept, this guy taught me what I never put together before. I've traded commodities and stocks and heard and used pivot points but not with the different time frames and certainly not with the advantage of candlestick charts. This is really a powerful trading concept. This combination was a true eye opener and makes trading for me much easier since I applied the techniques. Opens, highs lows and Closes plus pivot points in differrent time frames helped to generate some serioue profitable trade signals. BUY THIS BOOK !

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  • Anonymous

    Posted May 26, 2004

    MONEY MAKER!

    Great strategy eccellent concept to apply pivots with candlesticks. I didnt understand either method. Now I do, easy to read like Larry Willams said on the back cover.

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    Posted July 21, 2009

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  • Anonymous

    Posted February 15, 2009

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  • Anonymous

    Posted October 4, 2009

    No text was provided for this review.

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