Trading on Momentum: Advanced Techniques for High-percentage Day Trading

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9780071370684: Trading on Momentum: Advanced Techniques for High-percentage Day Trading

The NASDAQ has reached a record 60 new highs in 1999, closing above the 4000 milestone. This record was the icing on the cake to a year of volatile victories for the NASDAQ, which experienced the largest one-year gain ever for a major market index. Momentum has never been more important. For example, the first day of tradingin 2000 saw the NASDAQ dropping close to 100 points before finishing the day with a significant gain, yet on the second day of trading, the NASDAQ experienced its worst point drop in history. This text shows traders how to profit consistently by recognizing when the market has changed, determining what has changed, and adapting their trading methods to this new environment.

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From the Back Cover:

High-Powered Strategies for Understanding­­and Profiting from­­Predictable Rules of Market Momentum

Recent market swings have hammered many active traders­­and driven home the hazards of relying solely on traditional valuation methods. Trading on Momentum unveils anontraditional, market-proven model for taking advantage of fast-changing market dynamics, and trading stocks based on observable market momentum rather than unreliable fundamental attributes.

Momentum traders know when the market is changing, determine what attributes are changing and why, then instantly adapt their methods to take advantage of those changes. Whatever your style or trading experience, you can use these low-risk, high-percentage techniques and strategies to:


-Determine market dynamics by tracking movement throughout the trading day
-Confidently identify­­and act on­­short-term market tops and bottoms
-Master momentum techniques including gainers, dumpers, and gap plays

Day trading remains one of today's purest, most accessible opportunities for profit­­but only if traders have the knowledge and experience to recognize and act upon new opportunities as they become available. Trading on Momentum represents just such an opportunity, and outlines techniques for working with the markets­­instead of against them­­to see and seize the profit opportunities that are available throughout every trading day.

"Professional momentum traders exploit patterns that tend to repeat themselves over and over again. The ability to recognize the root causes and the indicators signaling that a pattern is about to repeat itself enables a successful momentum trader to enter a trade just as the momentum is starting and exit, sometimes just minutes or seconds later, as the momentum slows and turns. By riding waves of continuous momentum, it creates opportunity for tremendous gains not available to investors or long-term traders."
­­From the Introduction

Every second of every trading day, literally one-half of executed trades have the potential to generate immediate profits. In those brief moments following the trade, it isn't the fundamentals of each stock that change­­it is the trading momentum. Traders who understand how to recognize and use this momentum can greatly increase their percentage of profitable trades­­every second of every trading day.

Trading on Momentum utilizes detailed charts, graphs, and examples to outline and explain the dynamic trading method called momentum trading. Beginning with the basics, then progressing to the advanced methods, psychological factors, and unique tools of the successful momentum trader, this guidebook gives traders the information they need to incorporate momentum techniques into their trading arsenals. A step-by-step guidebook for quickly identifying market turning points­­then getting in and out for a quick profit­­Trading on Momentum discusses:


-Tracking stocks and analyzing their trading patterns­­thereby replacing guesswork with solid research and knowledge
-Preparing properly for the open­­when the day's best trading opportunities consistently occur
-Using the Level II Time of Sales Ticker to determine the strength of the trend in a particular stock
-Understanding which news stories will propel a stock upward or downward­­and trading each end of the oscillation
-Methods to tailor your trading style based on historic, verifiable time-of-day trading behaviors

When stocks move, they tend to oscillate both up and down, in waves. This information is not new or newsworthy. What is new is the ability to accurately track and predict these movements, and profit in both directions. Trading on Momentum will give you the tools you need to regularly profit from the natural movements of the market, relying on unambiguous history and observation­­and leaving guesswork and luck to others.

About the Author:

Ken Wolff is the founder, president, and head trader of Mtrader.com, the first online instructional chatroom service for day traders. He authored the popular online workbook Momentum Investing and is coauthor of the CD-ROM course Mtrader Interactive Day Trading.


Christopher Schumacher is the CEO and founder of RealityTrader.com. He is the former head trader at Mtrader.com.


Jeff Tappan is the cofounder of Mtrader.com. He has a long background in discovering and recommending small-cap stocks.

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