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Info | Front Cover | Table of Contents | Excerpts
[pg. 7 - 33] [pg. 44 - 131] [pg. 136 - 360]
Page 44— “What we are trying to do here is observe the price movement of a market, from past to present, and in so doing attempt to discover some clearly identifiable price energy flows. Now, how do we start putting all of this to some practical use?
Page 51— “The self-righteous die young in trading. It is the humble, cold-eyed realist, with enough arrogance to act decisively, who survives and prospers in the trading game.
Page 59— “Dips/Rallies: When I started out as a broker, one of the veteran traders used to tell me to ‘buy the dips.’ Great, I would say to myself, what’s a dip? When a market is in a clear up trend, a ‘dip’ is defined as …
Page 60— “The “Three-Point System” is designed to mathematically quantify what these three lines are showing at any one moment in time. This is done by assigning each line a point value of …
Page 62— “Bottom line on the Three-Point System: The ‘Status’ (or position indicator) is a mathematical formula designed to clearly and objectively measure the prevailing trend/momentum situation at any one moment in time.
Page 63— “What I will do on this, and the other, chart examples is give you my commentary as it was written at the time, and then add some after-the-fact critique of this real-time daily commentary. I will point out what I did right, as well as what I overlooked. … The objective is to show how the natural laws of trading apply in real-life examples, as well as reveal how easy it is to make trading mistakes when in the ‘heat of battle.’
Page 100— “If a trader had followed the ‘rules’ on this market over the previous three weeks, then he or she could have produced substantial profits without ever being under any real price pressure.
Page 102— “I did not guess at anything during this time period, nor did I predict the future. I just followed the rules. Since these rules are based on natural laws, I had an edge that enabled me to succeed without knowing anything about the supply/demand situation…
Page 106— “Concurrent mode trades … are the trades that, by natural law, will have the best probability of success. Therefore, it makes business sense to focus energy and capital on those markets that are either in, or appear about to be in, a concurrent mode.
Page 115— “Bottom line on the Third Law of Trading: Trading according to the three natural laws of trading and relying on reasonably reliable trend/momentum indicators should put you in position to profit from any/all decent moves in several markets at the same time. In addition, you will be able to do this without ever being exposed to excessive risk. If you follow this general approach and method, you should find your account producing consistent profits without too much stress or strain.
Page 117— “The law of continuation applies not only to directional price movement but also to the relative or comparative strength and weakness between different markets.
Page 122— “You are a trader. You are sitting there watching your normally reliable technical indicators. Suddenly the market surges dramatically. … You are in the middle of a surprise ‘price spike,’ probably the most difficult situation a trader ever experiences. … Here is how to handle this most difficult of trading situations. As soon as you recognize a one-day move as being a ‘spike,’ ask yourself two questions: …
Page 130— “Bottom line on mistakes: Do not trade on hope! Do not trade against the odds! As soon as you realize you have made a mistake—and all traders do from time to time—just correct it immediately!
Page 131— “Humility allows clear vision that enables the decisive action that produces success; however, success encourages an arrogance that distorts vision, which in turn impedes correct action, thus resulting in failure. Humility, clarity, decisive action, success: success, arrogance, distorted vision, ignorance, failure. Humility is the gateway to the path to success in trading.
[pp. 136 - 360]
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