Strategies for Profiting on Every Trade: Simple Lessons for Mastering the Market
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Strategies for Profiting on Every Trade is an engaging, insightful book of lessons from the master traders of Pristine.com. From the most effective use of multiple time frames to finding intraday reversals to building a trading plan that optimizes your success, it is all here. Written for the new trader and the skilled professional, this book offers the edge towards becoming a more profitable trader. In these pages you will gain access to valuable, timely information, advance trading techniques, and powerful trading tools. Strategies is jam-packed with information only a trading seminar costing hundreds of dollars could provide. Put the hard-knock experience and the wisdom these master traders have spent years collecting at your fingertips and be confident you are getting the most out of every trade. This must-have reference is divided into seven critical lessons intended to further your education as a trader and help you reach your highest levels of profitability. Whether the trading trend is crystal clear or nearly impossible to see, it is tools (like this insight-rich guide) that traders use that make the difference between success and failure. In these lessons we share the Pristine trading philosophy, technical analysis and advice, and emphasize the tools each successful trader needs to be a winner, including: Proven advice that will help traders at all levels increase their gains – from getting started to reviewing the fundamentals; The power of an effective watchlist – how to create and how to pinpoint the right stocks to include; Key money management techniques to guarantee the optimal risk reward ratio; Real trading tactics – chart patterns, set ups – to use immediately; Mastering trading psychology – how to protect yourself from profit-stealing emotions and how to exploit the greed and fear of others in the market.
Introduction 11Getting Started 11Lessons on Getting Ready 21Developing a Watch List 21The Watch List Concept 25Time Frames 26Your Progress as a Trader 28Lessons on Some Basics 33What Market Is That Again? 33Looking at the Big Picture 37A Guide to Protective Stop Losses 41Trading the First Half Hour 44Fundamental vs. Technical 46News You Can Use 49News and Your Trading 53Are You Still Investing? 56Reversal Times 58The All Important 200 Period Moving Average 60Moving Averages, the Power of the 20 MA 67A Return to Some Basics 71Lessons on Managing 73Managing a Trade 73Dealing with Disaster 75Alternate Swing Entries 77The Reward to Risk Ratio 81Do You Find Yourself Target Challenged? 87The Anatomy of an Entry 89Lessons on Psychology in Trading and Planning 94The Psychology of Fear 94The Trading Plan - The Key to Your Success 96Discipline 99Some of Your Best Qualities 100The Need to Be Right 102The Ways Traders Learn 104Using Public Fear as a Trading Tool 106Analysis of a Losing Trade 110Technical Lessons 115Some Common Mistakes 115Was That a Double Top? 118Support and Resistance 123That First Pullback 127Recognizing a Trend Day 129The Perspective of Multiple Time Frames 133Zoom, Zoom, Zoom 137Daily Pivot Points 141Fighting the Trend 144How a Trend Ends 147The Intraday Trend 150Finding an Intraday Reversal 152A Change in Trend, Part 1 155A Change in Trend, Part 2 157Trading Gaps, Part 1 159Trading Gaps, Part 2 162Chart Lessons on the Market 165The NASDAQ in Review 165A Look at the Market 170The NASDAQ Update, Part 1 172The NASDAQ Update, Part 2 175The Volatility Index as a Guide 178Caution in the Market 181Lessons on Classic Patterns 184Using Relative Strength as One of Your Tools 184Relative Strength at Reversal Time 187Failed Breakdown at Reversal Time 190A Strategy against the Trend 193Playing a Climactic Reversal 196The Lunch Time Fade 198The Power of a Mortgage Play 201Finding Unique Plays 204Quality Breeds Nicknames 207When It All Comes Together 210Conclusion 215Appendix 219Analyzing Pristine Buy Set-ups 219Glossary 225Index 229
