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Trading the financial markets is extremely difficult, but with the right approach, you can achieve success. Nobody knows this better than authors Larry Pesavento and Leslie Jouflas, both traders and educators of traders, who have consistently used pattern recognition to capture profits from the markets.
In Trade What You See, Pesavento and Jouflas examine a technical approach to trading that will allow you to identify patterns as they are developing, and discuss how to implement this method to effectively manage your trades. While some patterns derive from the techniques of Wall Street's earliest traders, other patterns reflect Pesavento's emphasis on the geometry of market movements and Fibonacci numbers.
Engaging and accessible, this detailed guide uses a variety of stocks and markets?in the numerous chart examples found throughout these pages?to illustrate how particular patterns form in different markets and time frames. Once you have a solid foundation in the area of pattern structures, you'll become familiar with how these patterns are traded and discover the best ways to integrate them into your own trading endeavors.
Divided into three comprehensive parts, Trade What You See:
- Reveals how to identify trending conditions and discusses techniques for entering in the direction of the trend
- Presents proven patterns that range from classical technical analysis to the Butterfly, AB=CD, and the Three Drive
- Offers in-depth insights on how to use options in conjunction with patterns
- And much more
But the only way to use the information in this book profitably is by understanding each pattern and following sound trading principles. To help you accomplish this, Pesavento and Jouflas have included guidelines on developing a trading plan that covers: pattern recognition; thinking in terms of probabilities; money management; risk assessment; and techniques for entering and exiting trades. Along the way, they also discuss setting up trading as a business?and preparing for the unexpected?because approaching this discipline from any other angle would be a big mistake.
Filled with hard-won knowledge gained through years of market experience, Trade What You See outlines both a practical and sophisticated approach to trading that will be of interest to both new and seasoned traders alike.
Trading the financial markets is extremely difficult, but with the right approach, you can achieve success. Nobody knows this better than authors Larry Pesavento and Leslie Jouflas, both traders and educators of traders, who have consistently used pattern recognition to capture profits from the markets.
In Trade What You See, Pesavento and Jouflas examine a technical approach to trading that will allow you to identify patterns as they are developing, and discuss how to implement this method to effectively manage your trades. While some patterns derive from the techniques of Wall Street's earliest traders, other patterns reflect Pesavento's emphasis on the geometry of market movements and Fibonacci numbers.
Engaging and accessible, this detailed guide uses a variety of stocks and markets?in the numerous chart examples found throughout these pages?to illustrate how particular patterns form in different markets and time frames. Once you have a solid foundation in the area of pattern structures, you'll become familiar with how these patterns are traded and discover the best ways to integrate them into your own trading endeavors.
Divided into three comprehensive parts, Trade What You See:
- Reveals how to identify trending conditions and discusses techniques for entering in the direction of the trend
- Presents proven patterns that range from classical technical analysis to the Butterfly, AB=CD, and the Three Drive
- Offers in-depth insights on how to use options in conjunction with patterns
- And much more
But the only way to use the information in this book profitably is by understanding each pattern and following sound trading principles. To help you accomplish this, Pesavento and Jouflas have included guidelines on developing a trading plan that covers: pattern recognition; thinking in terms of probabilities; money management; risk assessment; and techniques for entering and exiting trades. Along the way, they also discuss setting up trading as a business?and preparing for the unexpected?because approaching this discipline from any other angle would be a big mistake.
Filled with hard-won knowledge gained through years of market experience, Trade What You See outlines both a practical and sophisticated approach to trading that will be of interest to both new and seasoned traders alike.
LARRY PESAVENTO is a forty-year veteran trader who has one of the most extensive trading libraries in the world. He operates a Web site, [...] which provides market analysis for subscribers. Pesavento speaks regularly at trading conferences and is a private trader for a large hedge fund. The pattern recognition approach he uses eliminates the random nature of market action.
LESLIE JOUFLAS has been trading for over ten years and went professional in 2000. She coaches and tutors trading students as well as moderates and runs [...] Jouflas also trades privately managed money as well as her own account.
Preface xi
Acknowledgments xv
About the Authors xvii
Part I Introduction to Trading with Pattern Recognition
Chapter 1 Opening Thoughts 3
How to Use This Book 3
Succeeding or Failing in Trading 4
Steps to Take for Successful Trading 7
Chapter 2 Geometry of the Patterns and Fibonacci Ratios 9
History of Geometry in the Markets 11
Fibonacci Ratios 13
Applying the Fibonacci Ratios 15
Summary 18
Chapter 3 Harmonic Numbers and How to Use Them 19
Where the Term Harmonic Numbers Originated 19
Defining a Harmonic Number 20
Vibrations in Price Swings 22
Repetition in Price Swings 24
Finding Harmonic Numbers 28
Harmonic Numbers Found in Other Markets 34
Part II The Price Patterns and How to Trade Them
Chapter 4 The AB=CD Pattern 37
History of the AB=CD Pattern 37
AB=CD Pattern Description 39
AB=CD Pattern Structure 39
Important Characteristics of the AB=CD Pattern 42
CD Leg Variations 43
Slope and Time Frames 46
Psychology of the AB=CD Pattern 48
Trading the AB=CD Pattern 49
Chapter 5 The Gartley "222" Pattern 53
History of the Gartley "222" Pattern 53
Gartley "222" Pattern Description 55
Gartley "222" Pattern Structure 56
Important Characteristics of the Gartley "222" Pattern 57
Psychology of the Gartley "222" Pattern 59
Trading the Gartley "222" Pattern 60
Chapter 6 The Butterfly Pattern 67
History of the Butterfly Pattern 67
Butterfly Pattern Description 69
Butterfly Pattern Structure 70
Important Characteristics of the Butterfly Pattern 71
Psychology of the Butterfly Pattern 72
Trading the Butterfly Pattern 73
Chapter 7 The Three Drives Pattern 81
History of the Three Drives Pattern 81
Three Drives Pattern Description 82
Three Drives Pattern Structure 83
Important Characteristics of the Three Drives Pattern 84
Psychology of the Three Drives Pattern 84
Trading the Three Drives Pattern 85
Chapter 8 Retracement Entries and Multiple Time Frames 91
Fibonacci Retracement Entries 92
Fibonacci Retracement Pattern Structure 92
Trading the Fibonacci Retracement Pattern 95
Opening Price Retracement Setups 98
Market Setup for the Opening Price Retracement Trade 99
Trading the Opening Price Retracement Setup 100
Multiple Time Frames 103
Chapter 9 Classical Technical Analysis Patterns 113
A Brief History of Technical Analysis 114
Basics of Technical Analysis 115
Double Bottom and Top Patterns 115
Head and Shoulders Pattern 120
Broadening Top and Bottom Patterns 126
Chapter 10 Learning to Recognize Trend Days 131
Identifying a Trend Day 132
Patterns Found on Trend Days 135
Fibonacci Ratios on Trend Days 138
Controlling Risk on a Trend Day 140
Trading a Trend Day 141
Part III Essential Elements of Trading
Chapter 11 Trade Management 149
Thinking in Probabilities 150
Warning Signs and Confirmation Signs 151
Money Management 155
Chapter 12 Using Options with the Fibonacci Ratios and Patterns 161
Call and Put Options Defined 161
Factors That Influence the Price of an Option 162
Controlling Risk with Options 163
Examples of Using Options with Extension Patterns 164
Chapter 13 Building a Trading Plan 167
Daily Trading Plan 168
Trading as a Business 174
Disaster Plans 177
Summary 181
Chapter 14 Daily Routines 183
Trade Preparation 183
Mental Preparation 187
Physical Preparation 188
Appendix 191
Index 195
| Erscheinungsjahr: | 2007 |
|---|---|
| Fachbereich: | Betriebswirtschaft |
| Genre: | Importe, Wirtschaft |
| Rubrik: | Recht & Wirtschaft |
| Medium: | Buch |
| Inhalt: | 224 S. |
| ISBN-13: | 9780470106761 |
| ISBN-10: | 047010676X |
| Sprache: | Englisch |
| Einband: | Gebunden |
| Autor: |
Pesavento, Larry
Jouflas, Leslie |
| Hersteller: |
Wiley
John Wiley & Sons |
| Verantwortliche Person für die EU: | Wiley-VCH GmbH, Boschstr. 12, D-69469 Weinheim, product-safety@wiley.com |
| Maße: | 262 x 187 x 25 mm |
| Von/Mit: | Larry Pesavento (u. a.) |
| Erscheinungsdatum: | 01.10.2007 |
| Gewicht: | 0,571 kg |
LARRY PESAVENTO is a forty-year veteran trader who has one of the most extensive trading libraries in the world. He operates a Web site, [...] which provides market analysis for subscribers. Pesavento speaks regularly at trading conferences and is a private trader for a large hedge fund. The pattern recognition approach he uses eliminates the random nature of market action.
LESLIE JOUFLAS has been trading for over ten years and went professional in 2000. She coaches and tutors trading students as well as moderates and runs [...] Jouflas also trades privately managed money as well as her own account.
Preface xi
Acknowledgments xv
About the Authors xvii
Part I Introduction to Trading with Pattern Recognition
Chapter 1 Opening Thoughts 3
How to Use This Book 3
Succeeding or Failing in Trading 4
Steps to Take for Successful Trading 7
Chapter 2 Geometry of the Patterns and Fibonacci Ratios 9
History of Geometry in the Markets 11
Fibonacci Ratios 13
Applying the Fibonacci Ratios 15
Summary 18
Chapter 3 Harmonic Numbers and How to Use Them 19
Where the Term Harmonic Numbers Originated 19
Defining a Harmonic Number 20
Vibrations in Price Swings 22
Repetition in Price Swings 24
Finding Harmonic Numbers 28
Harmonic Numbers Found in Other Markets 34
Part II The Price Patterns and How to Trade Them
Chapter 4 The AB=CD Pattern 37
History of the AB=CD Pattern 37
AB=CD Pattern Description 39
AB=CD Pattern Structure 39
Important Characteristics of the AB=CD Pattern 42
CD Leg Variations 43
Slope and Time Frames 46
Psychology of the AB=CD Pattern 48
Trading the AB=CD Pattern 49
Chapter 5 The Gartley "222" Pattern 53
History of the Gartley "222" Pattern 53
Gartley "222" Pattern Description 55
Gartley "222" Pattern Structure 56
Important Characteristics of the Gartley "222" Pattern 57
Psychology of the Gartley "222" Pattern 59
Trading the Gartley "222" Pattern 60
Chapter 6 The Butterfly Pattern 67
History of the Butterfly Pattern 67
Butterfly Pattern Description 69
Butterfly Pattern Structure 70
Important Characteristics of the Butterfly Pattern 71
Psychology of the Butterfly Pattern 72
Trading the Butterfly Pattern 73
Chapter 7 The Three Drives Pattern 81
History of the Three Drives Pattern 81
Three Drives Pattern Description 82
Three Drives Pattern Structure 83
Important Characteristics of the Three Drives Pattern 84
Psychology of the Three Drives Pattern 84
Trading the Three Drives Pattern 85
Chapter 8 Retracement Entries and Multiple Time Frames 91
Fibonacci Retracement Entries 92
Fibonacci Retracement Pattern Structure 92
Trading the Fibonacci Retracement Pattern 95
Opening Price Retracement Setups 98
Market Setup for the Opening Price Retracement Trade 99
Trading the Opening Price Retracement Setup 100
Multiple Time Frames 103
Chapter 9 Classical Technical Analysis Patterns 113
A Brief History of Technical Analysis 114
Basics of Technical Analysis 115
Double Bottom and Top Patterns 115
Head and Shoulders Pattern 120
Broadening Top and Bottom Patterns 126
Chapter 10 Learning to Recognize Trend Days 131
Identifying a Trend Day 132
Patterns Found on Trend Days 135
Fibonacci Ratios on Trend Days 138
Controlling Risk on a Trend Day 140
Trading a Trend Day 141
Part III Essential Elements of Trading
Chapter 11 Trade Management 149
Thinking in Probabilities 150
Warning Signs and Confirmation Signs 151
Money Management 155
Chapter 12 Using Options with the Fibonacci Ratios and Patterns 161
Call and Put Options Defined 161
Factors That Influence the Price of an Option 162
Controlling Risk with Options 163
Examples of Using Options with Extension Patterns 164
Chapter 13 Building a Trading Plan 167
Daily Trading Plan 168
Trading as a Business 174
Disaster Plans 177
Summary 181
Chapter 14 Daily Routines 183
Trade Preparation 183
Mental Preparation 187
Physical Preparation 188
Appendix 191
Index 195
| Erscheinungsjahr: | 2007 |
|---|---|
| Fachbereich: | Betriebswirtschaft |
| Genre: | Importe, Wirtschaft |
| Rubrik: | Recht & Wirtschaft |
| Medium: | Buch |
| Inhalt: | 224 S. |
| ISBN-13: | 9780470106761 |
| ISBN-10: | 047010676X |
| Sprache: | Englisch |
| Einband: | Gebunden |
| Autor: |
Pesavento, Larry
Jouflas, Leslie |
| Hersteller: |
Wiley
John Wiley & Sons |
| Verantwortliche Person für die EU: | Wiley-VCH GmbH, Boschstr. 12, D-69469 Weinheim, product-safety@wiley.com |
| Maße: | 262 x 187 x 25 mm |
| Von/Mit: | Larry Pesavento (u. a.) |
| Erscheinungsdatum: | 01.10.2007 |
| Gewicht: | 0,571 kg |
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