Develop Original Trading Systems that REALLY work! It's a complete tutorial for successfully developing and using a trading system that will work for YOU. Learn the principles behind trading systems. See how various systems work for accounts of all sizes – from $10,000 to $1 million. Plus – the tools and background necessary for developing computerized trading systems proven to work. A great new guide.
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With the recent explosion in the popularity of trading, nearly everyone who trades wants a trading systema methodology for buying and selling. A trading system can be a useful toolprovided the trader has the know-how to use it correctly. Unfortunately, few traders do. In this indispensable book, John Hill, one of todays most highly regarded analysts, and his partners, George Pruitt and Lundy Hill, enable traders to develop original systems that they can use to increase their trading profitability.
Demonstrating that a system is only as reliable as the criteria on which it is based and the information that is fed into it, the authors provide traders with the tools needed to develop systems based on sound logic, including complete explanations of: *The principles behind trading systems *How various systems operate for *accounts of all sizes, ranging from *amounts of $10,000 to $1,000,000 *The tools and background necessary for developing computerized trading systems that are backtested (i.e., tested on existing historical data) and will be profitable in the future *Short-term market timing techniques for any market
...and much more. Stock, futures and options traders, and individual investors will find that this complete, highly effective tutorial is truly the ultimate in successfully developing and utilizing trading systems that really work.
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Table of Contents:
The Set-Ups or the Big Picture.
Practical Applications of the Elliott Wave Theory.
Bar Charts and Their Forecasting Ability.
Channel and Trendline Trading.
Drummond Geometry and the PLdot: An Introduction to the Fundamentals.
Introduction to Mechanical Trading Systems.
Where to Start.
Historical Testing--A Blessing or a Curse
Turnkey Systems and Portfolios.
Top Ten Systems of All Time.
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Book Review by Jaye Abbate
The Ultimate Trading Guide by John Hill, George Pruitt and Lundy Hill
How do you become the "ultimate trader?" Smart investors will start by embracing the concepts presented in an excellent new book called "The Ultimate Trading Guide." This long-awaited book from a trio of trading system experts provides one of the most in-depth, hands-on guides for developing a trading system and methodology based on sound logic - and one that is suitable for your own goals, temperament and trading account range.
Author John Hill is a renowned analyst and the founder of Futures Truth, which has been analyzing and rating trading systems for over 20 years. Hill and his co-authors have real world experience and knowledge in what works consistently in the trading world. Together, they've created a winning four-part gameplan all traders can benefit from which focuses on:
- How to Spot Short Term Trends - and apply them to your advantage
- How to develop and use Trading Systems that REALLY work
- Methods for cultivating successful Money Management techniques
- And discovering "Patterns for Profit" by accurately reading charts
To be a true market winner, a "system" - which is really just a "method for buying and selling" - is needed. There are many different systems available - and no one system works for every player or in every situation. But - only by HAVING a system that you use, will you really become the type of successful trader you aspire to be.
The authors begin by presenting the fundamentals of bar chart analysis, Elliott Wave Theory, trendline trading, popular swing trading methods, pattern recognition and other important forms of utilizing technical analysis. Properly interpreting the bar chart is a key to uncovering the law of supply and demand which can lead, ultimately, to profitable trading. And the authors present several historically successful approaches to reading the markets using technical analysis that will contribute to the success of your trading plan.
The second part of the book deals in-depth with the importance of choosing - or developing - a mechanical trading system that is right for you. This section dispels all the myths surrounding systems and will set traders on a logical path in their search. They give hard, cold facts on systems in general, determining whether you should buy an expensive system, hardware, software, data, indicators - and the 5 approaches used by the very best trading systems they've seen. Plus - how to do historical testing and how any system is - ultimately - only as good as the data you feed it.
The final chapters address the all-important issues of Money Management and provide model systems for trading portfolios of varying amounts (from $10,000 increments, $25,000, $50,000 up to $300,000 in initial capital).
Hill and his colleagues have truly crafted one of the best trading "plan" guides to come along in years. It provides depth - without getting overly technical. It goes to the heart of the most important issues - providing concrete solutions readers can put immediately into action.
As John Hill himself states, "There are only three parts to a trading plan: entry, exit and stop loss when the entry is wrong. Each one of these three parts has a basket of techniques. By learning these techniques, you will develop your own key indicators and eventually you'll have the ability to navigate any chart and recognize any potential edge that suits your trading style."
Can you become the "ultimate trader" and make money trading the markets with a system? As trading legend Larry Williams says, "You bet, and this is THE book that shows how it's done, based on decades of research and actual trading."
Whether you're an experienced trader - or new to the trading game - this book will help you attain your "ultimate" goal - achieving on-going, consistent success in the markets.
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