Trade What You See:
How To Profit from Pattern Recognition
by Larry Pesavento and Leslie Jouflas
Synopsis:
In Trade What You See, Pesavento and Jouflas show traders how to identify patterns as they are developing and exactly where to place entry and exit orders.
Description:
Trading the financial markets is extremely difficult, but with the right approach, traders can achieve success. Nobody knows this better than authors Larry Pesavento and Leslie Jouflas, both traders and educators of traders, who have consistently used pattern recognition to capture profits from the markets. In Trade What You See, Pesavento and Jouflas show traders how to identify patterns as they are developing and exactly where to place entry and exit orders. While some patterns derive from the techniques of Wall Street’s earliest traders and other patterns reflect Pesavento’s emphasis on the geometry of market movements and Fibonacci numbers.. Filled with hard-won knowledge gained through years of market experience, Trade What You Seeoutlines both a practical and sophisticated approach to trading that will be of interest to both novice and seasoned traders alike.
Engaging and accessible, this detailed guide uses a variety of stocks and markets—in the numerous chart examples found throughout these pages—to illustrate how particular patterns form in different markets and time frames. Once you have a solid foundation in the area of patterns structures, you'll become familiar with how these patterns are traded and discover the best ways to integrate them into your own trading endeavors.
Divided into three comprehensive parts, Trade What You See:
* Reveals how to identify trending conditions and discusses techniques for entering in the direction of the trend
* Presents proven patterns that range from classical technical analysis to the Butterfly, AB=CD, and the Three Drive
* Offers in-depth insights on how to use options in conjunction with Patterns
* And much more
But the only way to use the information in this book profitably is by understanding each pattern and following sound trading principles. To help you accomplish this, Pesavento and Jouflas have included guidelines on developing a trading plan that covers: pattern recognition; thinking in terms of probabilities; money management; risk assessment; and techniques for entering and exiting trades. Along the way, they also discuss setting up trading as a business—and preparing for the unexpected—because approaching this discipline from any other angle would be a big mistake.
Filled with hard-won knowledge gained through years of market experience, Trade What You See outlines both a practical and sophisticated approach to trading that will be of interest to both new and seasoned traders alike.
