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The Trading Playbook

Two rule-based plans for day trading and swing trading

By Michael Gouvalaris

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About the Author

Michael Gouvalaris

Michael Gouvalaris is an Investment Advisor Representative at James D. Maxon Financial Advisors, helping clients in educating them in historical market returns and patterns, and planning diversified portfolios to help meet their long term financial goals. He is also an active contributor to investing. com and hosts his own website, theTechnicalInvestor.wordpress.com. On the Technical Investor he ... Read more on Michael Gouvalaris

Contents Listing

About the author
Disclaimer
Preface

Risk Management
Calculating a risk-to-reward ratio
Benefits of a 1-to-2 risk-to-reward ratio
Regression of daily volatility

DAY TRADING PLAYBOOK
Introduction
The structure of a market day
1. Day type
2. Gap type
3. Open type
Measuring market volatility
Average True Range
Volatility Index (VIX)
Support and resistance
Prior swing highs
Prior swing lows
Pivots
Open price gaps
Inside days
Market entry
Trading day situations
Day setup 1
Day setup 2
Day setup 3
Day setup 4
Day setup 5
Day setup 6
Day setup 7
Day setup 8
Day setup 9
Day setup 10
Dealing with neutral day types
Dealing with neutral gap types

SWING TRADING PLAYBOOK
Introduction
Identify the trend
Moving averages
Closing above the previous bar
Supply and demand (measured moves)
Measured moves
Measured move in reverse
Measuring corrections by percentage
Box theory
Replicating the box method
Using box theory in a downtrend
Measuring higher highs/lower lows
Patterns developing with new highs or lows
Strength/weakness of the trend
A-B-C corrections
A-B-C waves in real-life charts
Market indicators
Advance-decline lines
St. Louis Fed Financial Stress Index
The Volatility Index (VIX)
Swing Trading Playbook in practice
Example 1: S&P 500 Index
Example 2: The NASDAQ 100 ETF (QQQ)
Example 3: SPDR Gold Trust ETF (GLD)
Example 4: Interest rates and bond prices (TNX and TLT)
Example 5: Historical Dow Jones Industrial Average

Additional Trading Tips
Conclusion
Glossary of Terms
About the author
Disclaimer
Preface

Risk Management
Calculating a risk-to-reward ratio
Benefits of a 1-to-2 risk-to-reward ratio
Regression of daily volatility

DAY TRADING PLAYBOOK
Introduction
The structure of a market day
1. Day type
2. Gap type
3. Open type
Measuring market volatility
Average True Range
Volatility Index (VIX)
Support and resistance
Prior swing highs
...

Jacket Text

Traders have a tendency to over-complicate. Many search for the latest new indicator that will give them an edge, or a new trading strategy to deliver bigger wins. The message of The Trading Playbook is to forget all of this and concentrate on three solid foundations to improve your trading performance:

Simplicity - focus on price action alone.
Probabilities - take trades where the odds are in your favour.
Hard work and screen time - put in the effort to build up your trading experience.

Hard work and screen time is down to you, but The Trading Playbook will guide you towards simplifying your trading and thinking in terms of probabilities.

Michael Gouvalaris describes two straightforward trading plans that eschew complicated indicators and focus on probable outcomes. The first of these two plans - the day trading playbook - is based around ten different daily situations that can occur in the futures market. Between these ten daily setups, every single scenario is accounted for. You are shown how to determine what day type is in progress by studying that day's open and gap, and then high probability and low probability price action for each day type are given. Alongside the ten day types, the simple technical analysis tools of support and resistance and measuring market volatility are employed.

The second trading plan - the swing trading playbook - describes effective ways to identify the trend, how to find ideal spots to enter trades in the direction of the trend, and also how to identify signals that warn of potential trend failure or reversals. You will learn simple and highly effective tools for spotting high probability entries and exits for trades. Again, basic technical analysis tools are employed, including measured moves, box theory and A-B-C waves.

The key benefits of both playbooks are that they give you a well-defined plan to follow. This alleviates many of the big mistakes traders make, such as over-trading and cutting winners too early, or sitting in losing trades too long. If you are on the lookout for some trading ideas to simplify your analysis and refine your approach, The Playbook is for you.

Media Coverage

Trading System Life

10 TRADING QUESTIONS WITH?MICHAEL GOUVALARIS

1. What is it about trading that gets you up and motivated in the morning?

I enjoy trading because it doesn?t matter whether yesterday was a great day ...

Read more

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