Gartley patterns are based on the work of H.M. Gartley, a prominent technical analyst best known for a particular retracement pattern that bears his name. In recent years, Gartley patterns-which reflect the underlying psychology of fear and greed in the markets-have received renewed interest.
This definitive guide skillfully explains how to utilize the proven methods of H.M. Gartley to capture consistent profits in the financial markets. Page by page, you'll become familiar with Gartley's original work, how his patterns can be adapted to today's fast moving markets, and what it takes to make them work for you.
Examines how to identify and profit from the most powerful formation in the financial markets Discusses the similarities, differences and the superiority of the Gartley Pattern compared to classical chart patterns including Elliott Wave Shows how to apply filters to Gartley patterns to improve the probability of your trading opportunities, as well as specific rules where to enter and exit positions
Gartley's pattern is based on a unique market position where most traders refuse to participate due to fear. This book reveals how you can overcome this fear, and how to profit from the most consistent and reliable pattern in the financial markets.
Beat the Odds in Forex Trading shows you how to replace fickle predictive formulas with tangible market chart patterns to dramatically augment your Forex trading results. In this book, skilled currencies trader and trainer Igor Toshchakov (L. A. Igrok) details his Igrok Discrete-Systematic Method, the straightforward and accurate system that allows you to enter and exit the market according to clear-cut mechanical rules instead of vague hunches and emotional guesswork.
With the Igrok Method, you use measurable statistical signals to estimate the probability that a market will move in a given direction at a given moment. Beat the Odds in Forex Trading walks you step-by-step through this proven powerful method so you can:
Set aside fundamental considerations that underpin Forex fluctuations to focus on strategies to profit from those fluctuations Eliminate the necessity of making market predictions by replacing them with a strict systematic approach in an otherwise discrete trading environment Identify statistically significant trends and chart those trends to estimate directional probability of the next market movement Detect signs of a false trend line break that, in reality, could be confirmation of an ongoing trend continuation Choose currency pairs based primarily on their liquidity, activity, and average amplitude of fluctuations Select money management principles based on situations, trade systems, and current market conditions Understand, and profit from, the observed behavior of banks and other financial institutions that drive Forex price movements
Filled with in-depth insight and expert advice, Beat the Odds in Forex Trading details odds-enhancing trading strategies for entering and exiting the market using the Igrok Method; reviews strategies for recognizing and counteracting central bank interventions that can either destroy or greatly enhance a currency trading account; and provides templates for short-term and intraday trading.
Overthinking can harm even the most experienced trader. Beat the Odds in Forex Trading shows you instead how to read the currency markets and react—in ways shown over time to increase your odds of success. It replaces excessive formulas and theoretical calculations with proven methods and techniques, resulting in a trading guide that will greatly strengthen your trading approach, from both a philosophical and tactical point of view.
Divided into five comprehensive parts, Trading Price Action Trading Ranges skillfully addresses how to spot and profit from trading ranges—which most markets are in, most of the time—using the technical analysis of price action. Along the way, it touches on some of the most essential aspects of this approach, including:
Trading breakouts, which are transitions from trading ranges to trends, and understanding the gaps they create
The two types of "Magnets," Support and Resistance, and what they mean once the market breaks out and begins its move
Pullbacks, which are transitions from trends to trading ranges
The characteristics commonly found in trading ranges—areas of largely sideways price activity—and examples of how to trade them
Honing your order and trade management skills so that you can make more informed entry and exit decisions
And much more
Throughout the book, Brooks focuses primarily on 5 minute candle charts—all of which are created with TradeStation—to illustrate basic principles, but also discusses daily and weekly charts. And since he trades more than just E-mini S&P 500 futures, Brooks also details how price action can be used as the basis for trading stocks, forex, Treasury Note futures, and options. For your convenience, a companion website, which can be found atwiley.com/go/tradingtrends, contains all of the charts provided in the book.
Trading is a rewarding endeavor, but it's hard work and requires relentless discipline. To succeed, you have to stick to your rules and avoid emotion—and you have to patiently wait to take only the best trades. Understanding, and utilizing, the information found in Trading Price Action Trading Ranges is the next logical step to achieving this goal. With this guide, and the other two books in the series, you'll discover how to develop the patience and discipline to follow a sound system, and reap potentially huge financial rewards in the process.
Quote Of The Day : It is well enough that people of the nation do not understand our banking & monetary system, for if they did, i believe there will be a revolution before tomorrow morning - Henry Ford
Chinese demand has helped fuel a boom in the virtual currency called bitcoin. But even as prices reach new highs, Li Xiaolai says he won't sell.
Mr. Li, 41 years old, is one of China's biggest bitcoin holders, according to a fledging community of bitcoin watchers in Beijing. The former English test-prep teacher won't disclose specifics but says his bitcoin holdings are "in the six figures with the first figure being one." With bitcoin prices soaring to around $1,000 each, that makes his stake worth more than $100 million.
"It's the first time China can lead the world," says Mr. Li, who cites local innovations in chips, web applications and other parts of the bitcoin ecosystem.
Edward Hopper's famous portrait of economic hardship has just become the new symbol of unbridled wealth.
The American realist's 1934 painting, "East Wind Over Weehawken," sold Thursday for $40.5 million at Christie's sale of American art. That makes it the most expensive Hopper ever sold, beating the record $26.9 million for "Hotel Window." It also far exceeded its estimate, which called for the painting to sell for $22 million to $28 million.
The winning bid for the anonymous buyer was made by telephone.
Quote of the day : "If you know yourself and your enemy, you will not fear battle. If you know yourself but not your enemy, you will lose a battle for every one that you win; and if you do not know yourself and do not know your enemy, you will never see victory". -Sun Tzu
Goldman Sachs Sued By Singapore Client Oei Over Loss (Bloomberg News)
Goldman Sachs Group Inc. (GS) was sued by Singaporean wealth-management client Oei Hong Leong over a $34.3 million loss on Brazilian real-yen options trades he claimed the bank misled him into making.
Oei accused the New York-based bank of fraudulent misrepresentation, breach of fiduciary duty, fraudulent inducement and unjust enrichment in papers filed yesterday in New York state court.
Goldman Sachs rejected allegations that it acted improperly or cheated him, according to a letter it wrote to Oei in July and filed in a Singapore court, where the businessman is suing a unit of the bank over the same loss. The bank has said it will defend that lawsuit, which it is seeking to halt in favor of private and confidential arbitration.
“A lot of clients are like me, they trust the big banks like they trust their doctors,” Oei, 65, said in an interview today. His friends have had similar experiences and he is suing for “justice and fairness” for all clients, he said.
Andrea Raphael, a spokeswoman for Goldman Sachs in New York, said Oei’s lawsuit is without merit and will be defended.
Oei said in the New York lawsuit that he cut dealings with Goldman Sachs in 2011 after it profited on a losing trade it persuaded him to make. He said he resumed transactions after senior executives including President Gary Cohn and Asia head David Ryan visited him in April 2012 and said his interests would be placed first. Currency Bet
Oei said he relied on claims by Mats Dewitte, Goldman Sachs’s executive director for fixed income, currencies and commodities in Asia, before betting on May 15 the Japanese currency would fall against the real.
The bank had claimed the real was a stable and liquid currency anchored to the U.S. dollar, he said.
The real has fallen 12 percent since May 1 against the yen, the worst performer among 16 major currencies tracked by Bloomberg. The Brazilian currency dropped to a four-year low in June after the U.S. Federal Reserve said it may moderate bond purchases that have fueled demand for emerging-market assets.
Oei in 2009 settled a claim against Citigroup Inc. over S$1 billion ($797 million) in trading losses.
The Indonesia-born businessman, who made S$7 million trading American International Group Inc. shares in September 2008, in October that year predicted the global credit crisis would worsen because European banks would falter. A day after his remarks, then British government said it would inject 50 billion pounds ($81.2 billion) into the nation’s banks to keep them from collapsing.
“Trading is like the casino, sometimes you win, sometimes you lose,” Oei said.
The case is Oei v. Goldman Sachs Group Inc., 161176/2013, New York State Supreme Court, New York County (Manhattan).