Micro-Trend Trading for Daily Income: Using Intra-Day Trading Tactics to Harness the Power of Today's Volatile Markets - Hardcover

CARR

Hardcover

ISBN 10: 0071752870 ISBN 13: 9780071752879

Verlag: McGraw Hill, 2010

Inhaltsangabe

Profit every day from market volatility at all levels of the game The high-pace atmosphere of today's markets may appear overwhelming, but the right trading systems and expert guidance can help you build winning habits--and Micro-Trend Trading for Daily Income gives you the expertise and tools you need to consistently earn outsized market gains. Written by the man Wall Street calls "Dr. Stoxx," this practical trading manual shows you how to harness the power of volatility to bank daily profits. Microtrend trading takes you beyond the realm of common fundamental or technical analysis to find the hidden pockets of rationality, the "micro-trends," between the open and close of daily trading. Carr's proven, quick-turn, 100 percent mechanical systems are easy to use and do not require sitting in front of the computer all day. You can trade on your lunch break, you can trade the open or the afternoon session, you can even trade once a month and still make great income. And since most strategies in this book have you liquid by the closing bell, your day ends with your account gains posted--and your net worth heading skyward. Micro-Trend Trading for Daily Income shortens the learning curve and prepares you to think quickly and act decisively with insightful examples and case studies that illuminate Carr's time-tested strategies. With this reliable resource at your fingertips, you will have the confidence to take large positions and make huge returns on a day-to-day basis. Within days you'll be building wealth while tightly managing risk. Micro-Trend Trading for Daily Income is the one complete book that gives you the tools and knowledge you need to develop an arsenal of mechanical, profitable shortterm trading strategies that can earn you consistent profits--even in today's temperamental markets.

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Über die Autorin bzw. den Autor

Dr. Thomas Carr, CEO of Befriend the Trend Trading, a stock picks and trader training service, has been actively involved in the markets since 1996, following several years of studying technical analysis. He holds a master's degree from Princeton Theological Seminary and master's and doctoral degrees from Oxford University.

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MICRO-TREND TRADING FOR DAILY INCOME

Using Intraday Trading Tactics to Harness the Power of Today's Volatile Markets

By Thomas K. Carr

The McGraw-Hill Companies, Inc.

Copyright © 2011 Thomas K. Carr
All rights reserved.

ISBN: 978-0-07-175287-9

Contents

ACKNOWLEDGMENTS
PROLOGUE Why This Trading Book Is Different
INTRODUCTION What Is Micro-Trend Trading?
PART ONE PRELIMINARIES
CHAPTER 1 Your Micro-Trend Trading Workstation
CHAPTER 2 The Best Markets for Micro-Trend Trading
CHAPTER 3 The Five-Step Plan to Micro-Trend Trading Success
CHAPTER 4 Order Types, Stop Losses, and Target Exits
PART TWO ONE-DAY MICRO-TREND SYSTEMS
CHAPTER 5 The Bread-and-Butter System
CHAPTER 6 The Five-Minute Trend Trade System
CHAPTER 7 The VIX Reversal System
CHAPTER 8 The Lunchtime Scalp System
CHAPTER 9 The Afternoon Reversal System
PART THREE MULTIDAY MICRO-TREND SYSTEMS
CHAPTER 10 The OverNightTrading System
CHAPTER 11 The Snap-Back BBand System
CHAPTER 12 The Turn-of-the-Month System
PART FOUR ADDENDUM
CHAPTER 13 Is Trading a Form of Gambling?
FINAL WORDS
NOTES
INDEX

Excerpt

<h2>CHAPTER 1</h2><p><b>Your Micro-Trend Trading Workstation</b></p><br><p>Those of you who have read my <i>Trend Trading for a Living</i> can easily skipthis section without missing much. This chapter largely mirrors what was said in<b>Chapter 1</b> of <i>Trend Trading for a Living</i>. However, there areseveral important updates here to accommodate the added computer power needed tomicro-trend trade well. In addition, since my last writing, several new andextremely cost-effective services have been launched that will greatly reduceyour overhead costs for scanning and charting your watch lists. These newservices are listed in this chapter.</p><br><p><b>HARDWARE REQUIREMENTS</b></p><p>For all trading purposes, I recommend using a recent-model desktop PC orMacintosh computer. Any computer older than two years is likely due for anupgrade. Between the two primary formats, the Windows-based option is the betterchoice for micro-trend traders because most of the higher-end software that isuseful for short-term trading is available only in that format. Yes, Apple fanswill argue that with PC emulators and various kinds of integration applicationsyou can run Windows-formatted programs on a Mac. If they are honest, though,they also will tell you that these emulators are "buggy" and slow. And when itcomes to trading micro-trends, faster is better!</p><p>In general, when considering a new PC, the faster the processor speed, thebetter. As a general rule, a minimum of 2 GHz is suggested. As of this writing,the AMD Athlon X2 250 is the fastest midrange CPU available, whereas Intel'sXeon X5680 is the fastest high-end CPU. RAM should not be skimped on either. Infact, RAM is more important than CPU speed. With a large amount of accessmemory, you will be able to run concurrently the several high-demand softwareprograms necessary to trade properly without running the risk of "freezing" yourmachine owing to overload. With competitive pricing dominating the market atpresent, there is no reason why you should be trading with anything less than 4GB of RAM on your machine. This is sufficient to run most trading platformssimultaneously, but most premium PCs sold today come with 8 GB, which wouldnearly guarantee a flawless trading experience. Undoubtedly these numbers willrise as time goes on, but then so will the demand made on RAM by increasinglysophisticated software.</p><p>A quick word on hard drives: Most computers on the market today, and even thosesold over the past few years, have plenty of storage space for your tradingneeds. Today's hard drives are now measured in terabytes, the equivalent of1,000 GB. A 1-TB hard drive offers more than enough clearance for all yourtrading needs. For comparison's sake, the total space needed for all my tradingsoftware, charting package, and broker platform comes to only about 3 GB,whereas the hard drive on my PC has over 400 GB of space. It is recommended,however, that you not use your trading PC to store pictures, videos, and musicbecause these can cause most PCs to run slower. You also will want to installreliable spy ware-blocking software and run the scans each week.</p><p>The monitor is the next most important piece of hardware in your tradingarsenal. Here, size does matter. As a rule, the larger the monitor, the better.For this reason, laptops are not the best choice for micro-trend trading. Theyare fine for traveling purposes, and since I travel a lot, I trade on my 17-inchHP laptop frequently. But try opening your trading account stations, your real-timecharts, a quote streamer, your watch lists, and a couple of Web browsersall at once, and you will soon realize how helpful it is to have as much desktopspace as possible. I personally trade on a single 27-inch monitor, and it suitsme well. Trading on your iPhone? Forget it!</p><p>Many professional traders use more than one monitor from which to trade, butmultiple monitors are not needed with the systems I teach in this book. Keep inmind that if you go with a multiscreen monitor, you will need to install a videocard capable of handling more than one monitor. There are multiscreen monitorson the market that are designed especially for traders. These give you up to 80diagonal inches of desktop space—a genuine luxury! They are expensive,however, running over $5,000 for the better models, not including the upgradeneeded to your video card. For the kind of trading outlined in this book, amultiscreen monitor is not needed, provided that your viewing space is 20 inchesor larger. Desktop resolution should be set at the highest level. For areference, I have my monitor set at 1,920 × 1,200 pixels with 32-bit color.</p><br><p><b>CHARTING PACKAGES</b></p><p&>To trade micro-trends profitably, you will need a high-end, premium chartingpackage. Normally, the chartting package service provider will require you todownload software or install from a CD directly to your commmmputer's hard drive.You then will need to download or install this software on all your tradingcomputers and laptops. There are, however, a few services now that offer top-endcharting directly from Web-based browsers. There are also brokers, such asE*Trade and Ameritrade, that offer free real-time charting packages to theiractive traders.</p><p>The package you select should at least have the following items:</p><p>• All standard technical indicators that can be displayed...

Details zur Ausgabe

• Verlag: McGraw Hill
• Erscheinungsdatum: 2010
• Sprache: Englisch
• ISBN 10: 0071752870
• ISBN 13: 9780071752879
• Einband: Gebundene Ausgabe
• Anzahl der Seiten: 288
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: gpsr@libri.de; gpsr@libri.de; ; Europaallee 1; Bad Hersfeld; 36244; Deutschland