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High Probability Trading Strategies by Robert C. Miner

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CHAPTER 1

High Probability Trade Strategies for Any Market and Any Time Frame

This book is unique. Unlike most trading books, it will teach you a complete trading plan from entry to exit. Not a few well-chosen examples of isolated trade setups and strategies, but exactly how to recognize optimal trade conditions, objective entry strategies with the exact entry and exit price, and how to manage the trade with stop-loss adjustments to the trade exit.

The majority of trading books focus on a few techniques and show a plethora of carefully chosen examples to support whatever is being taught. Some of the phrases often used are “You could have bought around here or taken profit around here”; “depending on whether you are a conservative or aggressive trader, you could do … (this or that)”; “markets usually fluctuate around the volatility band, which is a good place to buy or sell”; and lots more nonspecific statements.

Brokers don't take orders “around this or that price level.” They only take specific price orders. There is no such thing as a conservative or aggressive trader. There are only traders who either follow a trading plan or don't. To maybe do this or that “around” a volatility band or any other indicator or chart position is not a trade strategy. A trade strategy is a specific action to take, including the specific buy and sell price. In other words, worthwhile instruction will teach you exactly what to do and how and when to do it.

While many trading books do teach some useful ...

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