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Trading With Charts for Absolute Returns

Trading With Charts for Absolute Returns

Author: Robert Fischer
Publisher: John Wiley & Sons
ISBN: 9780470932926
Published In: May 2011
Format: Hardback , 226 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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How to use chart patterns to consistently achieve absolute returns

Robert Fischer, a pioneer in developing trading strategies for Fibonacci price and time analysis, has now developed charting analysis that achieve absolute returns in bull, bear, and trendless markets. In Trading with Charts for Absolute Returns, Fischer provides traders with a shortcut from the intensive programming and data analysis work, explaining which patterns work, the best markets to trade using the strategies, and advanced trading signals.

Uncovers the key chart patterns that work best in combination to provide real returns year-after-year and in all markets
Provides an augmented futures strategy for bear markets
Includes exclusive access to the Trading with Charts for Absolute Returns Web site with historical data and trading signals

While relative returns provide a means of judging performance on a comparative basis, as the saying goes, "you can't eat relative returns." Absolute returns is the only thing that matters, and Trading with Charts for Absolute Returns shows how to routinely achieve just that.

Introduction ix

A Note about Performance Results xii

CHAPTER 1 Absolute Return in a Competitive Market Environment 1

Players in Commodity and Stock Markets 1

The Role of Risk in Commodity and Stock Markets 7

Diversification Matters 9

CHAPTER 2 Absolute Return and Methods of Price Analysis 11

Nothing Is Better Than Correct Timing 11

Buy-and-Hold Strategies 14

Benchmarking as an Investment Strategy 14

Fundamental Analysis 15

Technical Analysis 20

CHAPTER 3 Absolute Return and Chart Pattern Recognition 29

Fibonacci Ratios and Clusters 29

Fibonacci and the Elliott Wave Principle 44

Candlestick Chart Patterns 56

3-Point Chart Patterns 64

CHAPTER 4 Absolute Return Results by Trading with Trend Channels and Trend Lines 79

Basic Requirements for Trading on Chart Pattern Recognition 79

Ascending and Descending Trend Lines 85

Trend Channels 96

An Integrated Trading Concept Based on Trend Lines and Trend Channels 113

Advanced Charting Techniques 123

Summary 136

CHAPTER 5 Absolute Return Results by Trading with the PHI-Ellipse 141

The Basic Structure of the PHI-Ellipse 141

What Makes the PHI-Ellipse Such a Special Trading Tool? 146

What Has Been Learned about the PHI-Ellipse Since the Last Book Came Out Seven Years Ago? 148

The Rationale behind PHI-Ellipses as Trading Tools 157

Application of PHI-Ellipses 181

PHI-Ellipses in Combination with Other Fibonacci Trading Tools 190

Exploiting the Forecasting Capabilities of PHI-Ellipses 194

Summary 197

CHAPTER 6 Trading Stocks for Absolute Return 199

Trading a Single Stock 200

Trading a Diversified Portfolio 204

Trading a Diversified Stock Portfolio with the Dax Futures Index as a Trend Indicator 207

Final Remarks 211

About the Companion Web Site 215

Acknowledgments 217

About the Author 219

Index 221

Robert Fischer is President of Fischer Finance Consulting AG, based in Zug, Switzerland. He has designed computer programs for cash currencies, financial futures, stock index funds, energy and metals futures, commodities, mutual funds, and global stock and options portfolios for individuals, banks, and corporations worldwide since the 1980s. For the past thirty years, he has managed commodity funds based on his own proprietary programs that generate trading signals based solely on pattern recognition. His other books include Fibonacci Applications and Strategies for Traders, The New Fibonacci Trader, and Candlesticks, Fibonacci, and Chart Pattern Trading Tools, all published by Wiley.