The New Technical Trader: Boost Your Profit by Plugging into the Latest Indicators (Wiley Finance) - Hardcover

Chande, Tushar S.; Kroll, Stanley

Hardcover

ISBN 10: 0471597805 ISBN 13: 9780471597803

Publisher: John Wiley & Sons, 1994

Synopsis

The breakthrough trader’s guidebook that combines the latest, most promising methods of technical analysis with the classic tactics of risk control and money management… In The New Technical Trader, trading system wizard Tushar Chande and money management expert Stanley Kroll present a bold new array of dynamic, price–based, and risk control indicators that provide timely, reliable answers to the difficult analytic challenges of pattern recognition, variable indicator length, and price projection. Developed by the authors to overcome the specific limitations of existing technical indicators, they can be used in virtually any market—futures, commodities, stocks, indices, and mutual funds. Each new indicator is supported by step–by–step tutorials and real–world trading scenarios that illustrate the best strategies for its use, and show how to adapt it to your trading style. Now you can develop a successful, comprehensive personalized trading plan using:

• New momentum oscillators—the Chande momentum oscillator, stochastic RSI oscillator, variable–length dynamic momentum index—that overcome the limitations of the relative strength index
• Qstick, a quantitative candlestick that generates objective numbers instead of subjective patterns
• Linear regression analysis that quantifies trendiness, projects prices, and prompts the development of a better game plan

If you need to reliably project prices under different market conditions, estimate risk on new positions, create stops to cut your losses, or plot momentum swing failures, The New Technical Trader is your first place to turn. It’s the frontline guide for developing objective consistency in your decision making and gaining a valuable edge in today’s commodities, currency, and stock markets.

About this title

About the Author

About the authors TUSHAR S. CHANDE is a scientist, inventor, and, since 1987, an innovative technical analyst and trading system developer. He has a PhD in engineering from the University of Illinois, and an MBA from the University of Pittsburgh. He has published many scientific papers in engineering journals, and holds nine U.S. patents for creative solutions to flexible manufacturing problems using high–power lasers and optical fibers. He is a prolific contributing editor of the trader’s magazine, Technical Analysis of Stocks and Commodities. He is in the process of setting up his own money management company. STANLEY KROLL is one of the most respected individuals in the futures industry and was prominently featured in the bestselling The Money Masters, as one of the nine leading global money managers. A five–year veteran of the Financial World’s commodity column, he is the author of The Professional Commodity Trader and the classic Kroll on Futures Trading Strategy. His most recent book is The Business One Guide to the Futures Markets, written with Michael J. Paulenoff. He is currently with Lippo Futures Ltd. in Hong Kong.

• New momentum oscillators the Chande momentum oscillator, stochastic RSI oscillator, variable–length dynamic momentum index that overcome the limitations of the relative strength index
• Qstick, a quantitative candlestick that generates objective numbers instead of subjective patterns
• Linear regression analysis that quantifies trendiness, projects prices, and prompts the development of a better game plan

If you need to reliably project prices under different market conditions, estimate risk on new positions, create stops to cut your losses, or plot momentum swing failures, The New Technical Trader is your first place to turn. It s the frontline guide for developing objective consistency in your decision making and gaining a valuable edge in today s commodities, currency, and stock markets.

From the Inside Flap

The New Technical Trader You watch the market challenge your position with every tick. But are your chosen technical indicators helping or hindering your performance? Do they cope responsively with the glut of fast–changing electronic data? Are they consistently generating the signals you need to make profitable, real–time life and death decisions? Do they dovetail into a trading system based on objective decision making and prudent risk control? Are your risk control strategies proactive, letting you manage your trades aggressively? If not, turn to The New Technical Trader for a new generation of robust indicators designed to provide a valuable edge in today s markets. In this leading–edge guide, top analyst Tushar Chande and supertrader Stanley Kroll show you their latest, most promising methods of price analysis with the classic tactics and strategies of risk control and money management. The result is a personalized, winning trading system that adjusts automatically to market volatility, generates reliable entry and exit signals, shrewdly estimates risk on new and current positions, and promotes superior portfolio selection. Turn to The New Technical Trader to redefine the basic building blocks of a typical trading system: from moving averages, to momentum oscillators; from price patterns to profitability templates. Learn how to transform the components of popular, static technical indicators relative strength index, momentum, stochastic oscillator, and more into dynamic price oscillators that are nimbler than their static predecessors. Detailed tutorials and profuse illustrations from real–life commodity, currency, and stock market trading scenarios offer specific rules for testing these oscillators, so you can readily adapt them to your trading style. Discover how to:

• Develop price forecasts for the next trading day, and beyond. Master the essentials of regression analysis to quantify trend strength, detect early warning signs of potential trend changes, and promote a more objective, less emotional approach to trading.
• Switch to dynamic moving averages that adjust their effective length based on market momentum or volatility, so you can set unique stops, develop trading bands for a breakout trading system, and pinpoint resistance or support.
• Improve identification of candlestick patterns. With Qstick, you can quantify both the internal momentum and shadows, and produce objective numbers to look at rather than a pattern to ponder.
• Exploit powerful new indicators for risk control. You ll find the hottest new indicators for: creating price–time templates to close out losers and cash out of fast rising winners, learning how to aggressively manage open trades using the maximum favorable excursion, performing what–if simulations with the projected price range to prepare for any market eventuality, and using volatility–based stops to get you in or take you out.

In today s fiercely competitive futures and financial markets, your success depends on mastering fast–changing market information and using it to make swift, smart, strategic trading and investment decisions. Designed to help you handle the good days, and the bad, The New Technical Trader is the proactive, single source guide for playing the winning percentages and reaping bigger trading profits with minimum risk.

Edition details

• Publisher: John Wiley & Sons
• Publication date: 1994
• Language: English
• ISBN 10: 0471597805
• ISBN 13: 9780471597803
• Binding: Hardcover
• Number of pages: 224