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Trend Trading For Dummies



Trend Trading For Dummies

Barry Burns

ISBN: 978-1-118-87140-9 August 2014 360 Pages

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Trend trading lets the market do the work for you

Is your portfolio doing all it should? Are you looking for a market-focused way to increase returns? Try your hand at trend trading. Instead of analyzing the performance of a company, analyze the performance of the market as a whole. When you spot a trend, jump on it and let it ride until it's time to move. Whether your strategy is short-term, intermediate-term, or long-term, trend trading can help you capitalize on the action of market and get the most out of every move you make.

Trend Trading For Dummies will get you up to speed on the ins and outs of this unique technique. You'll learn how to spot the trends and just how heavily market analysis figures into your success. You can get as complex as you like with the data for long-term predictions or just go for quick rides that pump up your gains. Before you jump in, you need to know the basics that can help ensure your success.

  • Learn the rules of trend trading and why you need a solid system
  • Understand technical analysis to make accurate predictions
  • Analyze the market and learn what to look for before you trade
  • Use leverage to your advantage to make better moves

Trend Trading For Dummies includes trading strategies that you can use as-is, or customize to suit your needs. Thorough preparation is the key to any good trading plan, and it's no different with trend trading. Trend Trading For Dummies allows you to trade using every angle, and will get you out of or into the market in a flash.

Introduction  1

Part I: Getting Started with Trend Trading  5

Chapter 1: What Is Trend Trading?  7

Chapter 2: Gathering What You Need to Get Started  15

Chapter 3: Considering the Risks of Trading  25

Chapter 4: Understanding the Advantages and Disadvantages of Trend Trading  37

Part II: Essential Trend Trading Strategies  47

Chapter 5: Price Waves You Can  Surf to Profits  49

Chapter 6: Looking at Chart Indicator Tools  61

Chapter 7: Understanding Broad-Based Market Indicators  73

Chapter 8: Knowing What Time You Want to Trade  87

Chapter 9: How to Make Money When the Market Goes Up or Down  97

Part III: Becoming a Top Trader with the Five-Energy Method  103

Chapter 10: Cycle Timing Tools: Finding the Best Time to Enter a Trend  105

Chapter 11: Support and Resistance: Figuring Out the Best Price to Enter a Trend  115

Chapter 12: Using Momentum Indicators to Test the Strength of a Trend  131

Chapter 13: Scale: Confirming the Trade on a Longer Time Interval  143

Chapter 14: Putting It All Together: The Five-Energy Trading Methodology  153

Chapter 15: Seeing the Five Energies in Action  167

Part IV: Determining Where, When, Why, What, and How to Trade  191

Chapter 16: Understanding Leverage  193

Chapter 17: Choosing a Trading Time That Works for You  201

Chapter 18: Creating Watch Lists to Find the Best Opportunities  211

Chapter 19: Using Relative Strength to Make More Money  223

Chapter 20: Scanning Markets with Technology  233

Part V: Managing Risk and Following the Keys to Success  243

Chapter 21: Practicing Diversification  245

Chapter 22: Hedging Your Position to Protect You from Losing All Your Money  253

Chapter 23: Using Stop Signs to Keep You Safe  263

Chapter 24: Documenting Your Trades and Printing Your Charts  279

Chapter 25: Reviewing Your Trades — Always!  291

Part VI: The Part of Tens  299

Chapter 26: Ten Habits of Highly Effective Trend Traders  301

Chapter 27: Ten Common Misconceptions about Trend Trading  307

Index 313