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New Thinking in Technical Analysis: Trading Models from the Masters

Rick Bensignor (Editor)
ISBN: 978-1-57660-049-8
287 pages
November 2000
New Thinking in Technical Analysis: Trading Models from the Masters (1576600491) cover image
Sometimes even the most thorough homework on fundamentals fails to pinpoint the best time to buy a stock or take profits. Technical analysis helps market players predict the price behavior of a stock, commodity, or any financial instrument, giving clues about the course a trade may take in the coming weeks and months. When market timing is of the essence in making logical, informed decisions about a trade's future, technical analysis is the tool.

In New Thinking in Technical Analysis: Trading Models from the Masters, a dozen top authorities reveal their techniques and strategies for successful trading. This book offers market participants a treasury of tools to improve their investment performance, each from a unique and time-tested perspective. Readers will find immense value in the straightforward, user-friendly, application-rich presentation of market dynamics forecasting in this invaluable guide. Enhanced with over 170 charts and illustrations, New Thinking will become the primary companion of every trader seeking to gain a competitive edge.

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About the Contributors.

Acknowledgments.

Preface.

1 Swing Trading and Underlying Principles of Technical Analysis (Linda Bradford Raschke).

Influential Thinkers in Technical Analysis.

General Principles of Price Behavior.

Creating Swing Charts.

The Three Types of Trades.

Trade Management.

2 Forecasting Trends Using Intermarket Analysis (John Murphy).

Basic Principles.

Intermarket Sector Effect.

Sector Rotation and the Economy.

Japan' Effect on U.S. Markets.

3 Applying Moving Averages to Point and Figure Charts (Kenneth G. Tower).

Background of Point and Figure Charting.

Constructing Moving Averages on Point and Figure Charts.

Advantages of Point and Figure Charts over Bar Charts.

When and How to Use the Technique.

4 Spotting Early Reversal Signals Using Candle Charts (Steve Nison).

Constructing Candle Lines.

Using Individual Candle Lines.

Doji.

Shadows.

Hammers and Shooting Stars.

Engulfing Patterns.

Windows.

Candles and Risk/Reward Considerations.

5 Reading the Language of the Market with Market Profile (Robin Mesch).

The Cycle of Equilibrium and Disequilibrium.

Daily Profile Shapes.

Profiles of Equilibrium and Disequilibrium Cycles.

The Four Steps of Market Activity.

Using Market Profile to Create a Buy/Sell Strategy.

Minus Development.

Summary Principles Underlying Market Profile.

6 Using Oscillators to Predict Trade Opportunities (Tom DeMark).

Traditional Oscillator Interpretation.

TD Range Expansion Index.

TD DeMarker I.

TD DeMarker II.

Key Considerations.

7 Using Cycles for Price Projections (Peter Eliades).

Basic Steps in Generating Price Projections Using Offset Lines.

Nominal Price Projections and Terminology.

Applying Market Cycle Projections.

Offsets for Weekly, Daily, and Intraday Cycle Projections.

Preliminary vs. "Confirmed" Projections.

Adding Cycle Price Projections to One's Toolbox.

8 Trading with the Elliott Wave Theory (Steven W. Poser).

History of Elliott Wave Theory.

Description of Elliott Wave Theory.

Recognizing Wave Characteristics.

Applying Elliott Wave Theory.

Making Money When Your Analysis Is Wrong.

Fine-Tuning Your Elliott Wave Theory-Based Trading.

9 Trading Volatility in the Options Market (Lawrence McMillan).

Can You Predict the Market?

Volatility Trading Overview.

Trading Volatility.

Key Benefits of Volatility Trading.

10 Enhancing Technical Analysis by Incorporating Sentiment (Bernie Schaeffer).

Proper Application of Contrary Thinking.

Interrelationships of Sentiment Indicators with Technicals.

Sentiment Measures.

Sentiment at Work: A Case Study.

11 Measuring Investor Sentiment in Individual Stocks (Larry Williams).

How Investor Sentiment Affects Individual Stocks.

The Basic Rule.

Using the Index.

What Makes the Advisers Too Bullish and Too Bearish?

Avoiding Pitfalls.

Doing What the Majority Is Not Doing.

12 Controlling Risk with Money Management Techniques (Courtney Smith).

The Fixed Fractional Bet.

Place Your Stops, Then Apply the Rules.

Start with Sufficient Capital.

Stay Cool.

Maintain Your Discipline.

Index.

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Editor Rick Bensignor is Chief Market Strategist of Execution, LLC.  Formerly he held the same title at Morgan Stanley Principal Strategies, which followed several years at the firm as their chief technical strategist. Prior to that, Mr. Bensignor was Bloomberg L.P.'s senior product specialist for technical analysis, futures, and commodities.
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"Precise strategy platforms for today's traders"
Louise Yamada
Managing Director and Head of Technical Research, Salomon Smith Barney

"An excellent mix of classic and new concepts in technical analysis. Investors, as well as short-term traders, will find interesting and useful material in this book."
—Gail M. Dudack, CMT
Managing Director and Chief Equity Strategist, UBS Warburg

"A must-read for traders and investors"
James A. Bianco
President, Bianco Research LLC

"Rick has gathered together twelve of the top individuals in the field of technical analysis. Their methods and vast experience will open your mind to new opportunities."
—Edward J. Solari
Vice President and Senior Foreign Exchange Advisor, BMO Nesbitt Burns

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