Produktbild: Mind Over Markets

Mind Over Markets Power Trading with Market Generated Information, Updated Edition

Aus der Reihe Wiley Trading Series

64,99 €

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Beschreibung

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

13.08.2013

Verlag

John Wiley & Sons Inc

Seitenzahl

368

Maße (L/B/H)

25,1/15,6/0,2 cm

Gewicht

658 g

Auflage

2. Auflage

Sprache

Englisch

ISBN

978-1-118-53173-0

Beschreibung

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

13.08.2013

Verlag

John Wiley & Sons Inc

Seitenzahl

368

Maße (L/B/H)

25,1/15,6/0,2 cm

Gewicht

658 g

Auflage

2. Auflage

Sprache

Englisch

ISBN

978-1-118-53173-0

Herstelleradresse

Libri GmbH
Europaallee 1
36244 Bad Hersfeld
DE

Email: gpsr@libri.de

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  • Produktbild: Mind Over Markets
  • Preface xiii

    Acknowledgments xvii

    CHAPTER 1 Introduction 1

    CHAPTER 2 Novice 7

    Laying the Foundation 9

    The Auction 9

    Organizing the Day 10

    Challenging the Rules 15

    The Role of the Marketplace 16

    Going with the Crowd 17

    Introduction to Day Timeframe Structure 19

    Normal Day 19

    Dynamics 19

    Structural Characteristics 21

    Normal Variation of a Normal Day 21

    Dynamics 21

    Structural Characteristics 23

    Trend Day 23

    Dynamics 23

    Structural Characteristics 23

    Double-Distribution Trend Day 25

    Dynamics 25

    Structural Characteristics 25

    Nontrend Day 27

    Dynamics 27

    Structural Characteristics 27

    Neutral Day 27

    Dynamics 27

    Structural Characteristics 28

    Day Type Summary 31

    CHAPTER 3 Advanced Beginner 33

    Building the Framework 34

    The Big Picture: Market Structure, Trading Logic, and Time 34

    A Synthesis: Structure, Time, and Logic 35

    Ease of Learning 36

    Amount of Information 36

    Recognition Speed 37

    Trade Location 37

    Confidence Level 37

    Summary 38

    Evaluating Other Timeframe Control 38

    Other Timeframe Control on the Extremes 40

    Tails (or Extremes) 40

    Range Extension 40

    Other Timeframe Control in the Body of the Profile 40

    TPO 41

    Initiative versus Responsive Activity 45

    Trending versus Bracketed Markets 49

    Key Elements--A Brief Discussion 51

    Trending Markets 54

    Bracketed Markets 54

    The Two Big Questions 56

    CHAPTER 4 Competent 59

    Doing the Trade 59

    Section I 60

    Day Timeframe Trading 60

    Day Timeframe Directional Conviction 61

    Opening Call 61

    The Open 62

    The Open as a Gauge of Market Conviction 63

    Open-Drive 63

    Open-Test-Drive 65

    Open-Rejection-Reverse 68

    Open-Auction 69

    Open-Auction in Range 70

    Open-Auction out of Range 71

    Summary 73

    Opening's Relationship to Previous Day--Estimating Daily Range Potential 74

    Open within Value--Acceptance 75

    Rejection (Breakout) 79

    Open outside of Value but within Range--Acceptance 80

    Rejection (Breakout) 83

    Open outside of Range--Acceptance 84

    Rejection 85

    Summary 85

    April 13,1989 86

    Crude Oil 87

    S&P 500 87

    Gold 90

    Japanese Yen 92

    Soybeans 92

    Treasury Bonds 92

    Summary 95

    Day Timeframe Auction Rotations 96

    Two-Timeframe Markets 97

    One-Timeframe Markets 97

    Using Auction Rotations to Evaluate Other Timeframe Control 97

    Structure 99

    Half-Hour Auctions 100

    Extremes 100

    Range Extension 101

    Time 101

    Identifying Timeframe Transition 102

    December Swiss Franc, October 12, 1987 103

    Y to E: One-Timeframe Buying 104

    E: Time 104

    Y to F: Auction Test 104

    G: Transition Confirmation 104

    E to H: One-Timeframe Selling 105

    H: Auction Test 105

    I: Transition Confirmation 105

    H-J: One-Timeframe Buying 105

    Summary 105

    Auction Failures 105

    Excess 110

    Signs of Excess 111

    The Rotation Factor 112

    Monitoring the POC or Fairest Price 115

    9:30 a.m. Figure 4.30 116

    10:00 a.m. Figure 4.31 118

    10:30 a.m. Figure 4.32 119

    Noon Figure 4.33 119

    2:00 p.m. Figure 4.34 119

    The Close 120

    Day Timeframe Visualization and Pattern Recognition 122

    Short-Covering Rallies 123

    Long-Liquidation Breaks 127

    Summary of Short Covering and Long Liquidation 128

    Ledges 129

    Summary 130

    High- and Low-Volume Areas 131

    High-Volume Areas 131

    Identifying High-Volume Levels 132

    High-Volume Examples 134

    Low-Volume Areas 138

    Low-Volume Examples 140

    Summary 144

    Summary--Day Timeframe Trading 145

    Section II 145

    Long-Term Trading 145

    Long-Term Directional Conviction 146

    Attempted Direction: Which Way Is the Market Trying to Go? 146

    Auction Rotations 147

    Range Extension 147

    Long-Term Excess 150

    Island Days 152

    Long-Term Tails 152

    Gaps 155

    Summary 155

    Buying/Selling Composite Days 155

    Summary 157

    Directional Performance: Is the Market Doing a Good Job in its Attempts to Get There? 157

    Volume 158

    Evaluating Changes in Volume 158

    Volume as a Measure of Directional Performance 158

    Value-Area Placement 159

    Evaluating Directional Performance through Combined Volume and Value-Area Placement 160

    Value-Area Width 169

    Summary: Long-Term Activity Record 171

    Long-Term Auction Rotations 183

    Brackets 183

    Trade Location in a Bracketed Market 188

    Rule 1: Monitor Market Direction and Location within the Current Bracket 189

    Rule 2: Markets Generally Test the Bracket Extreme More Than Once 190

    Rule 3: Markets Fluctuate within Bracketed Regions 190

    Rule 4: Monitor Activity Near the Bracket Extremes for Acceptance/Rejection 192

    Transition: Bracket to Trend 192

    Trends 193

    Trade Location in a Trending Market 193

    Monitoring Trends for Continuation 196

    Transition: Trend to Bracket 197

    Detailed Analysis of a Developing Market 201

    Bracket Reference Points 201

    Region A (Figure 4.87) 203

    Region B (Figure 4.88) 205

    Region C (Figure 4.89) 207

    Region D (Figure 4.90) 208

    Long-Term Auction Failures 210

    Long-Term Short Covering and Long Liquidation 214

    Applications 224

    Corrective Action 225

    The Function of Corrective Action 226

    Summary 228

    Long-Term Profiles 228

    Using Long-Term Profiles 229

    The Long-Term Profile in Action 229

    Region A (Figures 4.98 and 4.99) 231

    Region B (Figures 4.100 and 4.101) 235

    Summary 238

    Special Situations 238

    3 to I Days 239

    Neutral-Extreme Days 241

    The Value-Area Rule 244

    Summary 246

    Spikes 247

    Acceptance versus Rejection 247

    Openings within the Spike 247

    Openings outside the Spike 249

    Bullish Openings 249

    Bearish Openings 252

    Spike Reference Points 252

    Balance-Area Breakouts 252

    Gaps 260

    Day Timeframe Significance of Gaps 260

    Summary 265

    Markets to Stay Out Of 265

    Nontrend Days 266

    Nonconviction Days 266

    Long-Term Nontrend Markets 267

    News-Influenced Markets 269

    Summary 269

    News 269

    Summary 274

    Beyond the Competent Trader 275

    CHAPTER 5 Proficient 277

    Self-Understanding: Becoming a Successful Trader 279

    Self-Observation 281

    The Whole-Brained Trader 282

    The Left Hemisphere 283

    The Right Hemisphere 283

    Combining the Two Hemispheres 283

    Strategy 284

    A Business Strategy 285

    Capital 285

    Location 286

    Timing 286

    Information 287

    Know Your Competition 287

    Know Yourself 288

    Consistent, Daily Execution 288

    Inventory 288

    Risk 289

    Goals 290

    Record Keeping and Performance 290

    Dedication 290

    Applications 291

    Summary 292

    CHAPTER 6 The Expert Trader 295

    CHAPTER 7 Experience 297

    Set Aside Your Expectations 297

    Mind over Markets in Profile 298

    Market-Understanding and Self-Understanding 300

    Perfect Practice Makes Perfect 300

    Blinded by Price 300

    Be Prepared 301

    Perspective 302

    Overnight Inventory 305

    Gaps Can Be Gold 307

    Gaining an Edge 308

    The Fairest Price Revealed 309

    Thinking Statistically 311

    The Trader's Dilemma 311

    The Most Important Omission from the First Printing in 1990 312

    Emotional Markets 313

    A Landscape View of the Market 314

    Personal Evolution 315

    Hierarchy of Information 316

    Timeframe Control--Who Is Dominating the Current Session? 317

    Markets Are Visual 318

    Destination Trades 319

    The Opening 319

    Trends 320

    Daily Perspective 322

    Cognitive Dissonance 322

    Imagination 325

    False Certainty 326

    Anomalies 326

    Market Logic 328

    We Are All Day Traders 329

    APPENDIX 1 Value-Area Calculation 331

    Volume Value-Area Calculation 331

    TPO Value-Area Calculation 332

    APPENDIX II TPO versus Volume Profiles 335

    Single Price Level Distortions 336

    End of Day Total Volume versus Ongoing

    Volume throughout the Day 337

    Anomalies 337

    Too Focused on Volume 339

    Conclusion 339

    Suggested Readings 341

    About the Authors 343

    Index 345