Street Smarts (Laurence Connors), e-booki, ksiazki gielda, ksiazki gielda

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CONTENTS
STREET SMARTS
ACKNOWLEDGMENTS
xi
PREFACE
xiii
Chapter 1
INTRODUCTION
1
Chapter 2
SWING TRADING
3
Chapter 3
MONEY MANAGEMENT
7
PART ONE TESTS
Chapter 4
TURTLE SOUP
12
Chapter5
TURTLE SOUP PLUS ONE TM
22
Chapter6
80-20's
31
Chapter7
MOMENTUM PINBALL TM
36
Chapter 8
2-PERIOD ROC
42
PART TWO RETRACEMENTS
Chapter 9
THE "ANTI”
48
Chapter 10
THE HOLY GRAIL
58
Chapter 11
ADX GAPPER
63
PART THREE CLIMAX PATTERNS
Chapter12
WHIPLASH
71
Chapter13
THREE-DAY UNFILLED CAP REVERSALS
74
Chapter14
A PICTURE'S WORTH A THOUSAND WORDS
80
Chapter15
WOLFE WAVES
88
Chapter16
NEWS
96
Chapter17
MORNING NEWS REVERSALS
99
Chapter18
BIG PICTURE NEWS REVERSALS
104
PART FOUR BREAKOUT MODE
Chapter19
RANGE CONTRACTION
109
Chapter 20
HISTORICAL VOLATILITY MEETS TOBY CRABEL
115
PART FIVE MARKET MUSINGS
Chapter 21
SMART MONEY INDICATORS
122
Chapter 22
MORE WORDS ON TRADE MANAGEMENT
128
Chapter 23
BE PREPARED!
131
Chapter 24
FINAL THOUGHTS
134
Chapter 25
THE SECRETS OF SUCCESSFUL TRADING
135
APPENDIX
Historical Volatility Calculations,
203
Moore Research Center-Statistical Studies,
205
Exhibit A.1
Historical Upper 90% Statistics,
208
Exhibit A.2
Historical Upper 80% Statistics,
209
Exhibit A.3
Historical Lower 10% Statistics,
210
Exhibit A.4
Historical Lower 20% Statistics,
211
Exhibit A.5
Historical WR7 and Higher Close Statistics,
212
Exhibit A.6
Historical WR7 and Lower Close Statistics,
213
Exhibit A.7
Historical ROCRSI Buy Report,
215
Exhibit A.8
Historical ROCRS1 Sell Report,
216
Exhibit A.9
Historical Fresh ROC Buy Report,
218
Exhibit A.10 Historical Fresh ROC Sell Report,
219
Exhibit A.11 Futures 14-Period ADX Statistics,
221
Exhibit A.12 Historical Oops Buy Report,
223
Exhibit A. 13 Historical Oops Sell Report,
224
Exhibit A. 14 Historical Oops (ADX Capper) Buy Report,
225
Exhibit A. 15 Historical Oops (ADX Capper) Sell Report,
226
Exhibit A. 16 Historical Fresh ADX Buy Report,
228
Exhibit A. 17 Historical Fresh ADX Sell Report,
229
Exhibit A.18 Historical Cap Failure Buy 50% Report,
231
Exhibit A. 19 Historical Cap Failure Sell 50% Report,
231
Exhibit A.20 Historical Channel (2-Period High/Low) Report),
233
Samples of Daily Worksheets,
234
Trademarks,
236
Research Services, Software, and Charting Services,
237
Software and Books Offered by Oceanview Financial Research,
238
ABOUT THE AUTHORS
239
PREFACE
Traders talk amongst themselves, not necessarily to discuss bullish or bearish market opinions, but
rather to share insights into the nature and quirkiness of this business. The mental toll trading
exacts definitely forms bonds. When we open up it is always surprising to discover the similarity of
lessons learned, experiences shared, and how we all independently arrive at the same
conclusions. Often in talking with each other we're really looking for clues into our own heads,
hoping to understand ourselves a little better.
Despite our constant pursuit of knowledge, the market itself assures there is no shortcut to
obtaining our final degree. In the end, it is experience which is our ultimate teacher and there is no
substitute. We can only choose the attitude with which we approach this process of learning to
trade. We can accept the inevitable setbacks and learn from them, or we can yield to our natural
human stubbornness and be forced to repeat the same lessons over and over again.
This book has been written by two people who have come to enjoy the process. We've both
discovered we are not the only ones to have made certain mistakes and we've also discovered the
same secrets to success ... which we hope to share with you. The single most important secret is
this:
learn to listen to the markets and do not impose your own will upon them.
Every successful trader we have known has also discovered the necessity for consistency. It is the
key to everything-you must trade with a coherent methodology. You must follow a specific trading
strategy. Although this book presents multiple strategies, each and every one has the same
essential starting point: minimizing risk first, looking to maximize gains only after risk has been
defined and controlled.
Between us we have 34 years of experience as floor traders, exchange members, traders on
institutional desks, hedge fund managers, and commodity trading advisors-trading for our own
accounts the entire time. We hit it off well because our number one guiding belief is that you must,
above all, find setups and entries which minimize exposure. The profits come on their own terms.
Finally, even though we present many different patterns, you only need ONE strategy to be
prosperous. Some of the best traders are successful because they trade only one strategy.
Hopefully, all of the patterns in the manual will increase your awareness of certain market
idiosyncrasies and will serve as a confirmation of your own market observations.
STREET SMARTS
CHAPTER 1
INTRODUCTION
Yes, Virginia, you CAN make a living from trading!
In a day when global money managers are given increasing attention and funds seem to dominate
the market arena, it might be difficult to imagine that the small speculator could have much of an
edge. Has trading become a function of computer power? Have markets changed in the last
decade? How relevant is the theoretical world in the heat of battle? The truth is, a few trading tricks
and a little common sense will get you more mileage than all the books on technical analysis
combined. Ultimately, an individual can better determine support and resistance than a computer
can. And yes, the private individual has more of an edge than he knows!
This book is written for the active trader. It is a compilation of strategies that the two of us have
been trading with for the last 15 years in both equities and futures. The strategies are conceptually
simple and have been readily adopted by our friends and colleagues. This is not a book of
technical analysis. It is a manual of precise setups that have you in the market for only a limited
amount of time. Consider it to be a collection of "surgical strikes" with a distinct methodology for
managing each one'.
Each pattern identifies a distinct market condition. After all, trading should be done on only the
most recognizable and reliable patterns. Most of the setups can be traded on any market and on
any time frame.
This manual will teach you everything we know about swing trading. By swing trading we mean
monitoring the market for support and resistance levels and actively trading around those areas.
Stops are placed just beneath support or above resistance to minimize risk. You will learn to
recognize the best setups at these levels and then how to lock in profits when trades are made.
In order for you to get the most out of trading these setups, a few points need to be covered:
• It is important to initially trade a new concept or strategy on paper. Only by seeing a pattern
over and over again will you truly feel comfortable with it. You must believe in its ability to
repeat itself. Don't be surprised if you find yourself actually becoming excited as you see the
patterns begin to set up.
• If a pattern does not make sense to you, don't trade it. If you don't have a 100 percent belief in
it, you will not be able to overcome losing streaks.
• All you need is one pattern to make a living! Learn first to specialize in doing one thing well. We
know two traders who do nothing but trade the "anti" pattern from a five-minute S&P chart.
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