Price Action Trading

Price Action Trading

4.11 - 1251 ratings - Source

Extract from the Preface: '1. What the book coversThis book is about day trading. Using the price action itself, rather than any of the usual array of indicators based on it. The US 30-year Treasury Bond Futures is the favoured instrument - the T-Bonds, as they are commonly called. There are good reasons for choosing this instrument to learn to trade - one being that they do not require a detailed knowledge of bonds themselves. The other attractions, whether you are a beginner or a seasoned veteran, are to do with liquidity, range, behaviour, patterns and the price action displayed at the key support and resistance points it encounters.Most days the T-bonds offer trading opportunities which can be taken within a money management environment that can give you an edge for profit - and this book has been designed to show you how to do just that. Fully illustrated with charts taken from a live trading screen and displayed in exactly the way you would have seen them for yourself, on your computer monitor. What you see is not just what happened, in detail, but also clear evidence of just how you could have profited yourself from each trading situation.2. Who the book is forThis book has been written for anyone wishing to day trade, using a discretionary method, rather than a mechanical system. It is a learning tool which should commend itself to the experienced trader, as much as to someone new to this business. Certainly I hope that any raw recruit would find it an easy read, even if it took a while longer to digest the subject matter as a whole.3. How the book is structuredThe seasoned trader will probably start by skip reading, to see if he can cut to the chase quickly. The lessexperienced will immediately see - from the detail of the charts alone - that there is a great deal of infoSuch points are often marked by a major pattern, such as a Doji Sandwich, J- Hook or Upthrust. ... Counter-Trend Trading In technical analysis, the method by which a trader takes a position contrary to the current market direction in anticipationanbsp;...

Title:Price Action Trading
Author:Bill Eykyn
Publisher:Harriman House Limited - 2003-01-01


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