Mastering the Trade : Proven Techniques for Profiting from Intraday and Swing Trading Setups
by Carter, John F.Edition: 1st
Format: Hardcover
Pub. Date: 2005-12-07
Publisher(s): McGraw-Hill
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Summary
Expert tactics to become make the most of every swing trade InMastering the Tradeveteran trader and educator John Carter shares his hard-won five-point technique for successful swing trading. In addition, Carter helps you move to the next level of confidence by explaining how markets really work and detailing behind-the-scenes market mechanics.
Author Biography
John F. Carter is president of Trade the Markets, Inc., and principal of the money management firm Razor Trading.
Table of Contents
| Acknowledgments | p. vii |
| Foreword | p. xvii |
| Introduction | p. xix |
| Trader's Boot Camp | p. 1 |
| Markets Don't Move Because They Want To, They Move Because They Have To | p. 3 |
| Average Trader Profile: The Wrong Skills in the Wrong Place at the Wrong Time | p. 3 |
| It's All About Pain and Suffering | p. 4 |
| The Case Study You Won't Read About at the Harvard Business School | p. 6 |
| Trading Rules for Sells/Shorts (Buys Are Reversed) | p. 13 |
| It's Not the Economy, Stupid | p. 15 |
| Psychology 101: What They Didn't Teach About Trading in School | p. 17 |
| Emotions Are Fine at Weddings and Funerals | p. 17 |
| Show Me a Guy with a System, and I'll Show You a Guy Who Is Welcome in My Casino | p. 18 |
| The Right Mental Outlook for the Markets: Don't Turn on Your Computer Without It | p. 19 |
| Phase I Trading: Destined to Lose-Traits That Make a Person a Success in Life Get Them Killed in the Markets | p. 22 |
| Phase II Trading: Fear-Based Trading or, "Everything I Touch Turns to Crap" | p. 25 |
| Phase III Trading: The Search for the Holy Grail: Holding Your Breath Is Not Advised | p. 25 |
| Signs That a Trader Is Stuck in Phases I, II, or III | p. 27 |
| Paper Trading: Why It's More Worthless Than an Iraqi Dinar | p. 30 |
| Hardware and Software-Top Tools for Traders | p. 35 |
| Hardware-It's All About the Ram | p. 35 |
| Taming the Technological Beast: Key Things Every Trader Should Know to Keep Their Computers Alive and Well | p. 39 |
| Turbo Charging the Trading Computer | p. 42 |
| The Back Up Plan: What to Do When Your Computer Crashes or the Power Goes Out-Because They Will | p. 43 |
| Not All Quotes Are Created Equal | p. 45 |
| A Bad Execution Platform Can Inflict Capital Punishment on Your Account | p. 46 |
| Opinions Are Like Bellybuttons; Everybody Has One | p. 51 |
| Establishing Priorities: If You Are Getting Interrupted During the First Two Hours of Trading, It Is Your Fault | p. 52 |
| Why Watching Harry Potter on DVD after 12 Noon Eastern Is Better Than Watching CNBC | p. 53 |
| Markets 101-Understanding the Basic Mechanics of the Markets Discussed in This Book | p. 55 |
| The World Beyond Stocks and Why It's Important | p. 55 |
| Markets are a Reflection of the People Who Trade Them. Is Your Competition Wired on Starbucks or Methodically Filling in a Crossword Puzzle? | p. 57 |
| Futures 101 | p. 59 |
| In a Nutshell-What Traders Need to Know | p. 60 |
| The Mini-Sized Dow vs. the E-Mini S&P 500 | p. 64 |
| Liquidity Is King | p. 65 |
| Contract Specifications-What a Trader Needs to Know to Trade Key Markets | p. 70 |
| Forex for Newbies | p. 74 |
| This Is How Forex Moves Are Measured | p. 77 |
| How to Hedge Your Own Life in the Forex Markets | p. 79 |
| For Traders, This Is All You Need to Know | p. 81 |
| The Stock Market Is Now Open-Seven Key Internals to Gauge Intraday Market Direction | p. 83 |
| Musicians Know How to Read Music; Traders Must Know How to Read the Markets | p. 83 |
| TICKS-They Can Run but They Can't Hide | p. 84 |
| TIKI-When Only the Fastest Heads Up Will Do | p. 90 |
| TRIN: Like High School, It's All About Pressure | p. 92 |
| TRINQ-The TRIN for the Nasdaq | p. 96 |
| Put/Call Ratio-The Keys to the Kingdom | p. 97 |
| Sector Sorter List-Beauty Is Not Only Skin Deep | p. 104 |
| This Is How You Know It's Going to Be a Choppy Day | p. 104 |
| Putting It All Together-Sizing Up the Trading Day from the Opening Bell | p. 107 |
| Listening In on the Floor-The Value of Pit Noise | p. 110 |
| Specific Intraday and Swing Trading Setups for Futures, Stocks, and Options, and Forex | p. 113 |
| The Opening Gap: The First and Highest Probability Play of the Day | p. 115 |
| Trading Without a Specific Setup in Mind is Like Hiking in the Amazon Without a Compass | p. 115 |
| Not All Gaps Are Created Equal | p. 117 |
| Trading Rules for Gap Down Buys (Gap Up Sells Are Reversed) | p. 120 |
| Who Is Getting a Spanking and Why? | p. 121 |
| Specific Examples of Trading the Gap | p. 122 |
| What to Do with Unfilled Gaps | p. 128 |
| Strategies for Those Who Can't Trade Full Time | p. 131 |
| Position Sizing with a $100,000 Account | p. 131 |
| Summing up the Gaps | p. 131 |
| Pivot Points-Great for Trending Days and Even Better for Choppy Days | p. 133 |
| Beating Indicator-Based Traders to the Punch | p. 133 |
| Not All Pivots Are Created Equal | p. 134 |
| Here's Exactly How I Set Them Up on My Charts | p. 135 |
| The Psychology Behind the Pivots-Who Is Getting Burned | p. 140 |
| Trading Rules for Pivot Buys on Trending Days (Sells Are Reversed) | p. 142 |
| Trading Rules for Pivot Buys on Choppy Days (Sells Are Reversed) | p. 143 |
| Trailing Stops in This Fashion Is the key | p. 157 |
| Tips and Tricks for Using the Pivots | p. 158 |
| What about Fibonacci Numbers? | p. 159 |
| Summing Up the Pivots | p. 162 |
| Scalper Buys and Scalper Sells-When Only a Quick Confirmation Will Do | p. 165 |
| Identifying and Profiting from Changes in Trend without Catching a Falling Knife or Stepping in Front of a Freight Train | p. 165 |
| Tick Charts Are Best for Scalping | p. 166 |
| Trading Rules for Buys (Sells Are Reversed) | p. 167 |
| Specific Examples of Scalper Buy and Sell Setups | p. 167 |
| Summing Up the Scalper Buys and Sells | p. 184 |
| Increase Probabilities of Success through Multi-Setup Combinations | p. 184 |
| Tick Fades: Taking the Opposite Side of the Newbies | p. 185 |
| The Number One Action Alert Available Today | p. 185 |
| Trading Rules for Sell Fades (Buys Are Reversed) | p. 186 |
| Specific Examples of Tick Fade Setups | p. 187 |
| Summing Up the Tick Fades | p. 198 |
| The Squeeze: Getting Positioned for the Big Market Moves | p. 199 |
| Day Trading Versus Swing Trading | p. 199 |
| Redefining Volatility-How Narrow Is Narrow? | p. 200 |
| Getting the Heads Up for a Potentially Larger Move Before It Occurs | p. 201 |
| Trading Rules for Buys (Sells Are Reversed) | p. 202 |
| Summing Up the Squeezes | p. 221 |
| The Key to Getting Positioned before a Market Crash | p. 222 |
| Strategies for Those Who Can't Trade Full Time | p. 225 |
| A Note on the Squeeze Indicator for TradeStation and eSignal | p. 226 |
| Brick Plays-Letting the Markets Stack Up | p. 227 |
| Using Bricks to Capture Intraday Reversals in the Mini-Sized Dow | p. 227 |
| Trading Rules for Buys (Sells are Reversed) | p. 228 |
| Summing Up the Bricks | p. 236 |
| The Ping Pong Play-Batting the Markets Back and Forth... All Day Long | p. 237 |
| A Trading Channel That Moves and Adapts to the Markets in Real Time | p. 237 |
| Trading Rules for Buys (Sells Are Reversed) | p. 238 |
| When You're Dancing with the Market, It's a Good Idea to Let It Lead | p. 248 |
| The 3:52 Play: Capping off the Day with a Fine Cigar | p. 249 |
| This Is Where the Other People Start to Panic | p. 249 |
| Trading Rules for Buys (Sells Are Reversed) | p. 250 |
| Summing Up the 3:52 Play | p. 261 |
| Box Plays-On Days When the Stock Market Is Dead in the Water, Look to Currencies | p. 263 |
| Measuring the Length of the Move Before It Occurs | p. 263 |
| Trading Rules for Buys (Sells Are Reversed) | p. 265 |
| Summing Up the Currency Box Play | p. 280 |
| HOLP & LOHP-Catching Trend Reversals without Getting Smashed | p. 283 |
| Buying a Market Just Because It Is Cheap, or Shorting a Stock Just Because It Is Expensive Is Dangerous-Unless It's Done Like This | p. 283 |
| Trading Rules for Sells (Buys Are Reversed) | p. 284 |
| Summing up the HOLP and LOHP Plays | p. 297 |
| Propulsion Plays-Swing Plays Using Stocks, Single Stock Futures, and Stock Options | p. 299 |
| Setting Up for the Bigger Moves in Individual Stocks | p. 299 |
| The Trader's Guide to Single Stock Futures | p. 300 |
| The Only Way to Play Individual Stock Options | p. 303 |
| Trading Rules for Buy Fades (Sells Are Reversed) | p. 307 |
| Summing Up the Propulsion Plays | p. 321 |
| Market Profile-Removing the Mystery | p. 323 |
| Following in the Footsteps of Elephants | p. 323 |
| Specific Examples of Market Profile in Action | p. 324 |
| Summing Up Market Profile | p. 330 |
| Heading Back Into the Real World of Trading | p. 333 |
| The Premarket Checklist-Creating a Game Plan for the Next Trading Day | p. 335 |
| Like Running a Credit Check, to Understand What the Market is Going to Do in the Future, It Helps to Understand Its Past | p. 335 |
| Monthly Chart Analysis | p. 336 |
| Weekly Chart Analysis | p. 338 |
| Daily Chart Analysis | p. 340 |
| 60-Minute Chart Analysis | p. 341 |
| Daily RSI Chart Analysis | p. 342 |
| 60-Minute RSI Chart Analysis | p. 343 |
| Index Radar Screen Alert | p. 344 |
| Sectors and Key Stocks Radar Screen Alert | p. 344 |
| The Key to Reading Daily Volume | p. 346 |
| The Key Price Levels to Know Each and Every Trading Day | p. 346 |
| Pivot Numbers, of Course | p. 348 |
| Key Sentiment Readings | p. 348 |
| It's a Good Idea to Know What These People Are Doing | p. 352 |
| Miscellaneous Items | p. 353 |
| What Does Your Mother Think? | p. 353 |
| Summing Up the Premarket Checklist | p. 354 |
| The Trader's Business Plan | p. 355 |
| Who Gets to the World Series-the Team with a Plan or the Team That Decides to Wing It? | p. 355 |
| Why Am I Trading Again This Year? | p. 356 |
| Happy Wife, Happy Life | p. 357 |
| What Markets Am I Going to Trade? | p. 358 |
| Why These Markets? What Specific Trading Strategies Am I Going to Use? | p. 358 |
| How Much Money Am I Going to Allocate to Each Trading Strategy and Setup? | p. 359 |
| What Execution Methods Will I Be Using? What Parameters? | p. 359 |
| How Am I Going to Track and Rank My Trades? | p. 360 |
| What Are My Drawdown Rules? | p. 361 |
| What Are My Profit Rules? | p. 362 |
| What Is My Office Setup Going to Be Like? | p. 362 |
| What Are My Rewards If My Trading Is Going Well? | p. 362 |
| Are There Any Groups, People, or Organizations I'd Like to Help Out This Year? | p. 363 |
| What are My Specific Plans for Staying "On Plan" Throughout the Year? | p. 363 |
| What Am I Doing About my Physical Health? | p. 364 |
| Concluding Thoughts on My Plan | p. 367 |
| A Sample Plan from a Beginning Trader | p. 368 |
| Summing up the Trading Plan | p. 378 |
| When It's Not Working for You, No Matter What You Do | p. 381 |
| Will Cry for Food-Using Your Emotions to Make Money | p. 381 |
| The Four Seasons Hotel Trade | p. 382 |
| Thank You, Sir, May I Have Another? | p. 382 |
| When I Tick, You Tick, We Tick | p. 382 |
| Dive, Captain, Dive | p. 383 |
| High Five, Baby | p. 383 |
| Discover Your Personality Type and Find Out If It's Holding You Back | p. 383 |
| Personality Types and Trading-What You Don't Know about Yourself Can Hurt Your Trading | p. 386 |
| Trading Really Isn't For Everyone-Alternatives to Consider | p. 388 |
| Mastering the Trade | p. 391 |
| Amateurs Hope; Professionals Steal | p. 391 |
| 40 Trading Tips for Maintaining a Professional State of Mind | p. 392 |
| Surviving the Trader's Journey | p. 396 |
| Conclusion and Final Thoughts | p. 396 |
| Index | p. 399 |
| Table of Contents provided by Ingram. All Rights Reserved. |
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