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Trading Tools and Tactics: Reading the Mind of the Market

Trading Tools and Tactics Reading the Mind of the Market

  • Author:
  • Publisher: John Wiley & Sons
  • ISBN: 9780470540855
  • Published In: July 2011
  • Format: Hardback , 309 pages
  • Jurisdiction: International ? Disclaimer:
    Countri(es) stated herein are used as reference only
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From the founder of the leading online trading education company Pristine.com, a simple technical method to trade or invest

Many trading books present esoteric trading concepts and complicated indicators that may look good on paper when viewing the past, but prove ineffective in the real world.

Trading Tools and Tactics: Reading the Mind of the Market doesn't just make investing look easy; it makes trading easy by teaching you not only how to identify price moves, but by helping you understand why prices move the way they do.

  • Covers managing trades and setting entries and stops, and helps you view how failed trades or chart patterns of the past can become new opportunities
  • Describes how to identify and understand supply and demand as it relates to resistance and support, as well as how to combine and read multiple time frames that offer the best opportunity to take profits
  • Details both concepts and practical tools to use for life, not just the current market

Investing is all about finding the right price patterns to profit from by understanding support, resistance, trends, and volume as well as identifying the best time frames to trade. Trading Tools shows you how to do just this.

Preface.

Acknowledgments.

Chapter 1 Subjective Doesn't Work in the Market.

Technical Analysis is the Objective Standard.

The Guru Syndrome.

The Pitfalls of Fundamental Analysis.

Technical Indicators: Adding Subjectivity to the Chart.

Approaching the Markets Objectively.

In Summary.

Chapter 2 Candlestick Analysis.

Using the Language of Candles to Profit from Market Moves.

A Single Candle.

Multiple Candle Formations.

Failure Is Not Always Bad.

In Summary.

Chapter 3 Support and Resistance.

Price is King.

Price Patterns.

Recognizing Reference Points.

The Two Forms of Support and Resistance: Major and Minor.

How Support and Resistance Areas Form.

In Summary.

Chapter 4 Moving Averages the Right Way.

Visual Aids to Price Action.

A Valuable Technical Measurement.

Convergence Can Help.

Moving Averages as Focal Areas.

Staying Objective.

A Few Good Rules While Using Moving Averages.

Other Points to Consider.

Moving Averages to Find Plays.

In Summary.

Chapter 5 Volume is Money.

Commitment to Prices.

The Fallacies of Volume.

Using Volume Properly.

The Primary Uses of Volume.

Volume As It Relates to Tradability.

In Summary.

Chapter 6 Retracement Analysis.

Using Retracement Analysis to Continue Your Move.

The Concept of Retracements.

To Retrace or Not to Retrace.

Retracements Imply a Trend.

Continuing To Keep It Objective.

What Lies Beyond 60%?

Retracement Levels and Downtrends.

A Special Retracement Pattern.

Retracement Levels in Sideways Trends.

What Lies Beyond 100%?

The Bigger Picture.

In Summary.

Chapter 7 Bar by Bar Analysis.

Each Bar Tells Us Something.

Objectivity Is Still the Goal.

A Quick Review of Individual Bars.

How the Bars Interact.

Additional Thoughts.

In Summary.

Chapter 8 Market Internals.

Examining the Direction of the Market.

Determining Price Movement.

When to Be Different.

Favorite Market Internals.

A Quick Overview on Inter-Market Analysis.

In Summary.

Chapter 9 Relative Strength.

Relative Strength Defined.

Identifying Different Types of Relative Strength.

Is Relative Strength Always Good?

Relative Strength and Weakness with Morning Gaps.

Relative Strength with Sector Analysis.

Relative Strength to Market Internals.

In Summary.

Chapter 10 The Trend Is Your Friend.

There Are Only Three Directions.

What Makes a Trend?

Pivots.

When Pivots Come Together.

Some Subjective Guidance.

Keeping It Clean.

Checking the Reaction.

Final Thoughts.

In Summary.

Chapter 11 Shoot the Gap.

What is a Gap?

What Causes a Gap?

Fallacies about Gaps.

Gaps and the Daily Chart.

The Intraday Play.

In Summary.

Chapter 12 Frame by Frame.

The Concept of Multiple Timeframes.

Which Timeframes?

The First Goal of Using Multiple Timeframes.

Dealing with Conflicts in Timeframes.

A Powerful Concept Emerges.

Warning Signs in the Micro Trend.

Hidden Patterns.

In Summary.

Chapter 13 Making Failure Work for You.

Recognizing When Patterns Fail.

Did the Play Stop, or did the Pattern Fail?

When Good Patterns Fail.

Capitalizing on Predictable Failures.

Expected (or Unexpected) Failure.

In Summary.

Chapter 14 Manage the Trade and the Money.

The Missing Link.

Managing the Money – Share Size.

How Much to Risk.

Managing the Money – Throughout the Day.

Considerations When Swing Trading.

Basic Trade Management Concepts.

Managing the Trade – Staying with the Trend.

Managing the Trade – Zooming Down.

In Summary.

Chapter 15 Getting Through a Typical Trading Day.

Strategies to Incorporate into Your Daily Routine.

Beginning Your Day.

Planning Your Trade, Trading Your Plan.

After the Close.

Maximizing the Winners, and Handling the Losers Properly.

Chapter 16 There is Only One Truth in the Markets.

Price is King.

Index

GREG CAPRA is President and CEO of Pristine Capital Holdings, Inc., the nation's leading online educational service for active, self-directed traders. He is coeditor of Pristine's flagship product, the Pristine Swing Trader, and editor of Pristine's "Chart of the Week." Author of a DVD seminar series and developer of the Pristine Advanced Trading Lab, Capra is also coauthor of Tools and Tactics for the Master Day Trader.

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