Adam Grimes the Art and Science of Technical Analysis Goodreads
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The Fine art and Science of Technical Assay : Market Structure, Price Action, and Trading Strategies
Description
A breakthrough trading book that provides powerful insights on profitable technical patterns and strategies The Art and Scientific discipline of Technical Analysis is a groundbreaking work that bridges the gaps between the academic view of markets, technical analysis, and profitable trading. The volume explores why randomness prevails in markets nearly, simply not all, of the time and how technical analysis can be used to capture statistically validated patterns in certain types of market place atmospheric condition. The belief of the volume is that ownership and selling pressure causes patterns in prices, just that these technical patterns are only effective in the presence of true buying/selling imbalance. The Art and Science of Technical Analysis is supported by all-encompassing statistical analysis of the markets, which will deflate some tools and patterns such equally Fibonacci analysis, and endorse other tools and trade setups. In addition, this reliable resource discusses trader psychology and trader learning curves based on the writer's extensive experience as a trader and trainer of traders.
* Offers serious traders a mode to think about market place issues, empathize their ain performance, and help find a more than productive path forrard * Includes extensive inquiry to validate specific coin-making patterns and strategies * Written by an experienced market practitioner who has trained and worked with many top traders Filled with in-depth insights and applied advice, The Art and Scientific discipline of Technical Assay will requite you a realistic sense of how markets behave, when and how technical assay works, and what it really takes to trade successfully.
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Product details
- Hardback | 480 pages
- 185 x 260 ten 38mm | 926g
- 03 Aug 2012
- John Wiley & Sons Inc
- New York, United states
- English
- New
- 1118115120
- 9781118115121
- 49,272
Flap copy
Trading is a tough endeavor. And while it'due south difficult to derive a method that generates superior risk-adjusted profits in today's extremely competitive markets, information technology'due south even harder to successfully apply such a method in actual trading. The approach establish in The Fine art and Scientific discipline of Technical Analysis--1 which, in many ways, challenges the traditional thinking of technical assay--tin can aid y'all accomplish this goal.
Written in a straightforward and attainable style, this book breaks away from many of the standard trading books that have come earlier it. The Art and Science of Technical Analysis doesn't detail a rigid system to be strictly followed, nor does it present a group of setups and patterns that can be quickly assembled by a trader. Rather, it provides comprehensive coverage of the bug you demand to be aware of in gild to capture consistent profits from technically motivated, directional trading.
Based on nearly 2 decades of author Adam Grimes'due south experience as a trader, analyst, and systems developer, this reliable resources contains valuable insights for both private and institutional traders, and has been designed with both established and aspiring traders in mind. Divided into iv informative parts, information technology skillfully: Explores some of the probability theory supporting the concepts of successful trading, examines a specific approach to chart reading that builds the foundation for a deep intuition well-nigh price patterns in markets, and provides an overview of the Wyckoff market cycle Offers an in-depth look at the underlying foundation of price movements through coverage of trends, trading ranges, and the transitions from one to the other Outlines specific trading patterns and examples of those patterns; advocates a specific way of looking at indicators and other confirming factors; addresses the importance of sizing trades and managing positions; and calls attending to the various risks associated with trading Focuses on the elements of trader psychology, from cognitive biases to issues of emotional control, and lays out the challenges that developing traders unremarkably face up
Rounding out this give-and-take are three data-packed appendices. The outset is a trading primer that will be useful for developing traders or managers who don't have a familiarity with the language used by traders. The second expands on some specific details and quirks of moving averages, the MACD, which are used extensively in other sections of the book. And the last appendix contains a list of trade data used in the performance assay found in Office Four.
What yous demand to succeed in today's markets is a verifiable edge. The Art and Scientific discipline of Technical Analysis will requite you that edge and put y'all in a amend position to improve your overall trading performance.
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Back cover copy
THE Fine art AND SCIENCE OF TECHNICAL ANALYSIS
This book, written for both the self-directed and institutional trader, explores the tools and techniques of discretionary trading--the art of trading. Non just a drove of trading patterns and ideas, this is a book that looks deeply into the art of technical assay, and gives traders the tools and techniques they need to profit in today's competitive marketplace.
Divided into four informative parts, this reliable guide shows traders how to incorporate a rigorously researched trading methodology into a discretionary framework. Forth the way, y'all'll learn a method of looking at charts that focuses on the supply/need dynamics that movement all markets, specific trading patterns the author has used profitably for over a decade, and psychological techniques to deal with the stresses of trading. Y'all will as well come up to a new understanding of the office take chances management and position sizing play in the trading process, and dive into the path of growth and trader development that leads a trader from beginner to professional person.
Created with the serious trader in mind--whether individual or institutional--The Fine art and Science of Technical Analysis puts the writer's approach in perspective and will put you on a path to consistent profits. Topics covered throughout the book include everything from the foundations of technical analysis and market structure to trading strategies, indicators and other confirming factors, sizing trades and managing positions, and tips for evaluating your performance and growth every bit a trader.
Engaging and attainable, The Fine art and Science of Technical Analysis--along with its informative appendices--will requite you lot the border needed to improve your trading endeavors.
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Tabular array of contents
Preface eleven Acknowledgments xv PART I The Foundation of Technical Analysis Affiliate 1 The Trader due south Edge iii Defining a Trading Edge four Finding and Developing Your Edge 7 General Principles of Nautical chart Reading eight Indicators 12 The Ii Forces: Toward a New Understanding of Marketplace Action 13 Toll Action and Marketplace Structure on Charts 15 Charting by Manus 28 Affiliate 2 The Marketplace Cycle and the Four Trades 31 Wyckoff due south Market Cycle 32 The 4 Trades 40 Summary 45 PART II Market Construction CHAPTER 3 On Trends 49 The Fundamental Design 49 Trend Construction 51 A Deeper Await at Pullbacks: The Quintessential Trend Trading Blueprint 65 Tendency Analysis 77 Summary 95 Affiliate 4 On Trading Ranges 97 Back up and Resistance 97 Trading Ranges every bit Functional Structures 113 Summary 120 Chapter 5 Interfaces betwixt Trends and Ranges 121 Breakout Trade: Trading Range to Trend 122 Trend to Trading Range 134 Tendency to Contrary Trend (Trend Reversal) 137 Trend to Aforementioned Trend (Failure of Tendency Reversal) 143 Summary 145 PART III Trading Strategies Chapter 6 Practical Trading Templates 149 Failure Examination 150 Pullback, Buying Back up or Shorting Resistance 154 Pullback, Entering Lower Fourth dimension Frame Breakout 162 Trading Circuitous Pullbacks 165 The Anti 170 Breakouts, Entering in the Preceding Base of operations 174 Breakouts, Entering on Offset Pullback Following 181 Failed Breakouts 183 Summary 186 Affiliate seven Tools for Confirmation 189 The Moving Average The All the same Center 190 Channels: Emotional Extremes 195 Indicators: MACD 202 Multiple Time Frame Analysis 213 Affiliate 8 Merchandise Management 231 Placing the Initial Stop 232 Setting Cost Targets 235 Active Management 240 Portfolio Considerations 251 Practical Issues 253 Affiliate 9 Risk Management 263 Risk and Position Sizing 263 Theoretical Perspectives on Risk 279 Misunderstood Run a risk 282 Applied Risks in Trading 283 Summary 290 CHAPTER 10 Trade Examples 291 Trend Continuation 293 Trend Termination 313 Failure Test Failures 319 Trading Parabolic Climaxes 323 The Anti 327 Trading at Support and Resistance 336 Summary 343 PART IV The Private, Self-Directed Trader Affiliate xi The Trader due south Mind 347 Psychological Challenges of the Market 348 Evolutionary Adaptations 349 Cognitive Biases 353 The Random Reinforcement Problem 356 Emotions: The Enemy Within 357 Intuition 360 Menstruation 364 Applied Psychology 367 Summary 372 CHAPTER 12 Condign a Trader 375 The Procedure 376 Record Keeping 385 Statistical Assay of Trading Results 388 Summary 397 APPENDIX A Trading Primer 399 APPENDIX B A Deeper Look at Moving Averages and the MACD 409 APPENDIX C Sample Merchandise Data 425 Glossary 427 Bibliography 443 Virtually the Author 447 Index 449
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Near Adam Grimes
ADAM GRIMES is the CIO of Waverly Advisors, an nugget management and risk advisory house headquartered in New York. He began his career equally an independent trader focused on agronomical and currency futures, and moved on to manage a successful private investment partnership. Grimes's experience as a trader covers futures, equities, currencies, and derivatives, in time frames ranging from intraday to multi-month swings. Though he is primarily a discretionary swing trader, his methodology rests on a business firm foundation of statistical and quantitative inquiry. Grimes holds an MBA with an accent in finance and market microstructure, and has worked for a number of private investment firms, every bit well as having spent several years at the New York Mercantile Exchange.
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