"Tricks, tips and rules from interviews with Millionaire Traders " You have permission market everyday, so it takes a hard-nosed type of attitude and an ability. Ashu Dutt has 33 books on Goodreads with ratings. Ashu Dutt's most popular book is 22 Stock Market Trading Secrets. Or My Secrets of Day Trading In Stocks. By Richard D. Wyckoff the traders on the floor of the New York Stock Exchange. A friend of mine once said: secrets and interpret the language of the tape. Why was one of these men .. Page
|Language:||English, Spanish, Japanese|
|ePub File Size:||19.86 MB|
|PDF File Size:||19.36 MB|
|Distribution:||Free* [*Regsitration Required]|
22 Stock Market Trading Secrets - Ebook written by Ashu Dutt. Read this book using Google Play Books app on your PC, android, iOS devices. Download for. "You can make 50% to % every year with low risk. It's possible and it's true," says Ashu Dutt. "Trading is one of the most rewarding occupations. If you can. [PDF] 22 Stock Market Trading Secrets. 22 Stock Market Trading Secrets. Book Review. The book is not difficult in go through preferable to fully grasp. It can be.
This technological advance allows us to get out of bad trades more quickly than we would if we were trading the 8 day RSI system. Toby had successfully traded currencies for one of the hedge funds I worked for. Anyhow one must read this book. It is this psychology that will take the poor trader into the wrong positions over and over. Once this condition is met. Basic Method of calculating the RSI index: Mugavaiselvam Govindaraj.
These patterns make up the first charting page. If we do use leverage. In cases in which entries or exits are based upon the closing price.
We will not use leverage that will force us out of the market upon adverse price movements. Patterns use exits at a point after the close of the entry day. A bell ringing at the close and telling you to enter your position tells you too late what you should have done. The patterns are presented in a way that a professional computer based trader might use them.
Response time must be fast and furious. Track records in this chapter can be found on pages Many use entry stops to gain advantages. The stops tend to get triggered at the extreme price levels of the day. I have only included patterns that contain common sense reasons for their effectiveness.
So that this chapter did not turn into a mindless exercise in data mining. We should always be looking to take advantage of patterns. The profit factor clocks in at over 23 dollars won to each dollar lost. This effect can be seen in many futures markets. With an extremely short holding period. Most of us wonder what on earth will happen on Monday when the public has had time to read about the sharp drop.
Daily Pattern 2: Countertrend Tuesday Effect Large hedge fund traders often call each other before the opening of the stock market to discuss their views of the impending market action. This pattern capitalizes on a "weekend fear effect. Weak players can't take positions home because the margins are high.
We will unload our contracts at Tuesday's open. If Monday closes down and the trend is down as measured by our pattern. Sell Friday at the close and get out on the following opening. When the next bear market rolls around. The gains can only be captured by adequately capitalized traders.
This is the code that will appear for Pattern 1 in your Tradestation software: You may often hear the good ones refer to a phenomenon known as "Countertrend Tuesday. The following code will appear in your Tradestation software for Pattern 2. The following code will appear in your Tradestation software for Pattern 3. This pattern makes up Charting page 2 and will be tracked by itself. Pattern 3 goes short on an entry stop signaled after Tuesday's close.
TradeStation code for Pattern 2: We hold this short position until the open on Monday for maximum gains. When Tuesday reverses on a large range day and makes the highest closing price in four days. Daily Pattern 3: To heed the commandment of the Marquis de Rothschilde. The following code will appear in your Tradestation software for Pattern 4. Very often. The code will buy at the onset of a resurgence of a rally after a reaction within this rally.
Daily Pattern 5: Pick Up the Plunger Ever want to know when to step into a market that has recently experienced a sharp drop but is now rallying?
Look no further. This puts you on the side of stop runners who acquire positions before taking the market up to the breakout stops higher up. Don't miss out on the fun and games to the upside when this pattern goes into action. We will then buy tomorrow on a stop at a price we calculate. If the high two days ago is less than the low five days ago. These patterns must be tracked separately from the others and will make up Charting page 3 Daily Pattern 4: Reaction Day Breakout This pattern excels at doing mechanically what many chart players try unsuccessfully to do.
This price is where you put your buy stop. Play with the pros and go with the reaction day breakout trade. The "Countertrend Tuesday Effect" distorts certain patterns so we just sidestep this day for trading them. The fakeout pattern must be recognized to be exploited. Those who buy into the euphoria of a big open generally feel the need to sell out their positions when the positions turn into losses. When the weak players are liquidating their losing trades at the close.
The following code will appear in your Tradestation software for Pattern 6. The jaws of the fakeout close upon the victims. Daily Pattern 6: The Fakeout Follow Up When the market opens above the previous day's high and then sells off so that it closes lower that previous day. I got the idea for this pattern after studying the work of a CTA and commodity author named Toby Crabel.
I urge you to attempt to broaden the applications of all your pattern trades in this way. Rather than insist that the close be less than the close of the previous day. Note the engineering technique of using a fuzzy parameter. Now if the market stages a rally off the open the following day. Toby had successfully traded currencies for one of the hedge funds I worked for. In this fashion we can take advantage of our pattern to a greater degree than we could with the more restrictive version.
To restate. This pattern calls upon us to buy the open on Friday or on Monday under the same circumstances. We permit the close to be within. To some extent. The Fuzzy Logic Variation This pattern provides a variation of pattern 6 but it eliminates the need for a Tuesday filter.
Daily Pattern 8: The following code will appear in your Tradestation software for Pattern 7. This pattern is mine. To me. If this setup occurs on "Countertrend Tuesday" we will ignore the pattern.
Usually a system with those characteristics is based upon a gimmicky exit strategy. Pattern 9 looks for a day with the lowest price in three days but with a high greater than the close of the previous day. The following code will appear in your Tradestation software for Pattern 9.
Buy at the open the following day plus our additive amount. Daily Pattern 9: With a profit factor of 4. Friday is not a massacre day.
Don't forget to use our option hedging strategy with your leveraged trades.
The following code will appear in your Tradestation software for Pattern By Friday. When the low on Friday is greater than the high two trading days before. Leveraged Buyout Ever since the Monday crash in By this I mean that historically. According to Abraham Lincoln. Daily Pattern Early Bird Specials The trader who specializes in short term reversals should be an early bird.
You would probably have to search through all possible patterns to find something with a stronger record.
TradeStation code for Pattern I would trade patterns that have followed the same activity on Tuesday or Friday. I am hesitant to give this pattern away.. Using our early bird strategy. Once this condition is met. While I wouldn't buy on Friday just because Tuesday was up. If the open tomorrow is less than the low 1 day ago but greater than the low by.
If either of these two days witnesses a range less than the average range of the past three days and the high of the day is greater than the previous day's close.
The track record speaks for itself. This is one of the simpler patterns that savvy traders have been able to exploit over and over again. If you don't wait. Wait for a Tuesday to close higher than Monday.
If it does. I would always wait for the market to start down as this pattern demands. The historical results of our system are high enough to warrant the use of such vehicles as OEX put and call options. RSI and other trading oscillators. I refer you to my chapter on the "Market Wizard" method for more detail on this type of strategy.
We do not recommend futures positions leveraged far. You await the onset of a reversal from a relative high or low before trading in the direction of this counter-swing. The prevalence of oscillator trading strategies can provide an edge in using intraday reversal systems. By this we mean that the market will often swing from the lowest close in x number of days to the highest closing price in x number of days. Normally these traders will buy at the close when the oscillators move from oversold to overbought and sell when the reverse occurs.
I will show you how oscillator traders will actually push our reversal system trades in the direction we want. The focus of my reversal system is a short-term move that reverses a recent extreme in price. Chapter 6 Short-Term Reversal Systems Reversal systems are among the most effective systems that you can find for trading the stock index futures contracts. This concept. The Buy Rules: The Sell Rules: The build up in optimism that creates a six day high rapidly dissipates when the market reverses from the extreme.
We are not buying at a high or low itself. Results and Discussion of the Reversal System: As you can see from the system results page. It would seem that the psychology underlying the stock index futures contracts changes for a few days after an x day extreme reversal. Look for your yourself at the position of short term trading oscillators when the market makes a six day extreme price.
These indicators will normally show an oversold or overbought market. By positioning ourselves in the direction of the reversal intraday.
These reversals have signaled large moves in the majority of cases. Another advantage of the system is the fact that our stop will not be in a cluster where the pit will normally be looking for them. Short Term Reversal Systems 87 5 If our stop is hit. Chap6 Reversals: This macroeconomic logic. As many of you know. The reasoning of many traders taking short positions springs from the following logical chain: Chapter 7 Symmetrical Pattern Traders trained in macroeconomic theory run the risk entering trades based upon superficial analysis of inter market price action.
The psychology behind the average trader's decision to trade must be studied. A mastery of charts will hugely improve your trading odds and trading profits: In this book he reveals commodity trading secrets and techniques that are typically the domain of big market players: Reviews Review Policy. Published on. Flowing text, Original pages.
Best For. Web, Tablet, Phone, eReader. Content Protection. Read Aloud. Flag as inappropriate. It syncs automatically with your account and allows you to read online or offline wherever you are. Please follow the detailed Help center instructions to transfer the files to supported eReaders.
Similar ebooks. See more. How to become a professional trader and grow rich. Harvey Walsh.
Would you like the freedom to make money from anywhere in the world? What Others Are Saying Readers of this book make real money, as this short selection of comments shows: Wong Yee. Dare to venture into the stock market? In a surging bull market, it is not a professional game. Share prices are rising so fast that practically everybody makes money. However, in a bear market, it is indeed a professional game -- a case of the big investors winning at the expense of the small retail players.
Nice book. Very casual approach. Not a good one. Amazing book. Worth buying. One person found this helpful. Excellent book written in simple language! Do you have hindi translation also?
Good book. Very insightful for new taders. Must buy. See all 24 reviews. Would you like to see more reviews about this item? Go to Amazon. Back to top. Get to Know Us. Word Wise: Enhanced Typesetting: Page Flip: Not Enabled Word Wise: Enabled Screen Reader: Supported Enhanced Typesetting: Enabled Average Customer Review: