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High-Probability Trade Setups: A Chartist's Guide to Real-Time Trading

Book Description

A comprehensive volume of today's most profitable trade set-ups

A key element of trading is identifying situations in the financial markets that can produce a profitable trade. Fundamental analysts search for situations where a stock is undervalued or if a stock's prospective earnings growth is underestimated by a majority of investors. Technical analysts look at patterns in the market that historically indicate the direction of the markets next move. High Probability Trade Set-Ups catalogs the best trading situations from a variety of technical approaches.

Engaging and informative, High Probability Trade Set-Ups provides a detailed explanation of twenty powerful, recurring tradable situations in the financial markets. Each pattern is thoroughly described, including its strengths and drawbacks, ease of identification, and the degree to which it produces profitable trades. Most importantly, the author provides entry and exit points for each set up. Examples of the set-ups include chart patterns such as ascending triangles, diamonds, gaps, pennants, and channels.

  • Features many new technical tools for tracking individual stocks

  • Contains a resource guide, which will help to monitor the market for the trade set-ups discussed throughout the book

  • Reveals how to use ProphetCharts to perform advanced intermarket technical studies and identify the best opportunities

Written in a straightforward and accessible style, High Probability Trade Set-Ups covers a lot of ground with respect to this approach and shows you how to use it to make the most of your time in today's dynamic markets.

Table of Contents

  1. Cover
  2. Series
  3. Title Page
  4. Copyright
  5. Dedication
  6. About the Author
  7. PART I: An Overview
    1. Chapter 1: A Primer on Chart Setups
      1. THE BULLS VERSUS THE BEARS
      2. WHY IS A PREDICTION VALUABLE?
      3. A WORD ON SHORTING
      4. SUPPORT AND RESISTANCE
      5. WHAT HAPPENS WHEN PRICES PUNCH THROUGH?
      6. HISTORY REPEATS ITSELF
      7. WHEN PATTERNS WORK TOGETHER
      8. HOW TO USE THIS BOOK
    2. Chapter 2: My Personal Trading Journey
      1. EARLIEST INTEREST IN THE MARKETS
      2. BEGINNING WITH THE CRASH
      3. TECHNICAL TOOLS
      4. PROPHET'S BEGINNING
      5. THE INTERNET MAKES ITS APPEARANCE
      6. ENTER ALEX AND JAVACHARTS
      7. PROJECT KANDINSKY
      8. THE SLOPE OF HOPE
      9. LESSONS LEARNED
      10. PROPHETCHARTS LIVES
      11. THE THREE STEPS
  8. PART II: The Patterns
    1. Chapter 3: Ascending Triangles
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    2. Chapter 4: Ascending Wedges
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    3. Chapter 5: Channels
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    4. Chapter 6: Cup with Handle
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. LONGER-TERM EXAMPLES
      5. SUMMARY
    5. Chapter 7: Descending Triangles
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    6. Chapter 8: Descending Wedges
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    7. Chapter 9: Diamonds
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    8. Chapter 10: Fibonacci Fans
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    9. Chapter 11: Fibonacci Retracements
      1. DEFINITION OF THE PATTERN
      2. EXAMPLES
      3. SUMMARY
    10. Chapter 12: Flags
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    11. Chapter 13: Gaps
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    12. Chapter 14: Head and Shoulders
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. THE IMPORTANCE OF THE NECKLINE
      4. EXAMPLES
      5. SUMMARY
    13. Chapter 15: Inverted Head and Shoulders
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. THE IMPORTANCE OF THE NECKLINE
      4. EXAMPLES
      5. SUMMARY
    14. Chapter 16: Multiple Bottoms
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    15. Chapter 17: Multiple Tops
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    16. Chapter 18: Pennants
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    17. Chapter 19: Rounded Bottoms
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    18. Chapter 20: Rounded Tops
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    19. Chapter 21: Support Failure
      1. DEFINITION OF THE PATTERN
      2. PSYCHOLOGY BEHIND THE PATTERN
      3. EXAMPLES
      4. SUMMARY
    20. Chapter 22: Automatic Patterns
      1. PATTERNS IN PROPHETCHARTS
      2. WORKING WITH THE RESULTS
      3. PATTERN FAILURES
      4. PUTTING THE PATTERNS TO WORK
  9. PART III: Trading and You
    1. Chapter 23: Setting Stops
      1. GENERAL GUIDELINES
      2. BELOW SUPPORT
      3. ABOVE RESISTANCE
      4. ABOVE TRENDLINE
      5. BELOW TRENDLINE
      6. MOST RECENT LOW
      7. MOST RECENT HIGH
      8. SPECIAL CASES
    2. Chapter 24: On Being a Bear
      1. THE PHILOSOPHY OF SHORTING
      2. PRACTICAL GUIDE TO SHORT SELLING
      3. EXCHANGE-TRADED FUNDS
      4. PUTS FOR LEVERAGED PROFITS
      5. THE PHILOSOPHY OF SHORTING
    3. Chapter 25: A Guide to Real-Life Trading
      1. TRADING RULES
      2. HOW TO OPEN A POSITION
      3. HOW TO HOLD A POSITION
      4. HOW TO CLOSE A POSITION
      5. TIME AND MONEY
      6. THERE IS NO HOLY GRAIL
      7. CLOSING THOUGHTS
  10. Index