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Trading Against the Crowd

Trading Against the Crowd
Author: John F. Summa
Publisher: John Wiley & Sons
Total Pages: 227
Release: 2004-10-27
Genre: Business & Economics
ISBN: 0471701017
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Efficient market theorists contend that markets are random and thus not predictable. With the publication of Trading Against theCrowd, however, noted author, economist, and professional trader John Summa convincingly shows that investor sentiment can be incorporated into profitable stock and stock market trading systems. In this groundbreaking book, Summa explains how to use popular gauges of crowd psychology, such as put/call ratios, option-implied volatility, short sales, investor surveys, and advisory opinion to trade against, or contrary to, prevailing market sentiment. He also makes compelling arguments against the efficient markets hypothesis with the presentation of his own quantitative weekly bear and bull news-flow intensity indices, which he builds from news scans. This data series, and other popular measures of crowd psychology, are processed through custom indicators that are programmed into profitable trading systems, such as Squeeze Play I & II, Tsunami Sentiment Wave, and the Fourth Estate. Trading Against the Crowd is the first book to provide a comprehensive assessment of investor crowd psychology, offering valuable market timing tools and trading techniques, including: MetaStock and Trade Station system and custom indicator code; comparative statistical studies of CBOE, OEX, and equity-only put/call ratios; straightforward instructions for combining price triggers with sentiment indicators; a practical guide to understanding put/call ratios, short sales, investor surveys, newsletter opinion, and stock market news-flow intensity; how to use LEAP options as trading vehicles to avoid use of stop loss orders; use of put/call ratios for trading the Treasury bond futures market; and test results and evaluation of trading system performance. Many of today’s professional money managers rely on investor sentiment for improved market timing. They know that at extremes of market sentiment, markets tend to be the most predictable.Trading Against the Crowd shows how you can begin to profit from these short- to medium-term sentiment waves generated by the actions of the speculative crowd. Put into practice powerful sentiment data using thoroughly back-tested trading systems, and rise above the herd mentality of the investor crowd, where potentially large profits await.

Trading With Crowd Psychology

Trading With Crowd Psychology
Author: Carl Gyllenram
Publisher: Wiley
Total Pages: 0
Release: 2000-10-30
Genre: Business & Economics
ISBN: 9780471387749
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LET THE SOUND OF THE CROWD HELP YOU CREATE A SUCCESSFUL TRADING PLAN Praise for Carl Gyllenram and Trading with Crowd Psychology "Investing is first and foremost a psychological process and good market technicians are really psychologists. Mr. Gyllenram understands this and his book offers deep insight into the psychology of the trading range, the area from which big moves-up and down-emerge." --John Bollinger CFA, CMT, President, www.EquityTrader.com "Every trader and investor will recognize themselves and their habits (good and bad) among the characters whose trading decisions are so vividly described in this book, and all should discover ways of improving those trading decisions. A very timely publication." --Michael Smyrk Global Coordinator, International Federation of Technical Analysts "Carl Gyllenram takes a new approach to looking at the workings and importance of crowd psychology in the financial markets ... [he] shows a clear understanding of the subject, providing a thoroughly useful addition to the writings on crowd psychology." --Anne WhitbyFSTA, Vice Chairman, Society of Technical Analysts UK "We are an emotional species and seldom more so than when dealing with money. It is this raw human factor that creates most of the volatility in all financial and commodity markets, not economics ... With this book Carl Gyllenram has made an important contribution to the subject of Behavioral Technical Analysis." --David FullerGlobal Strategist at Stockcube Research Ltd. Writer of the Fullermoney investment letter

Trading on Sentiment

Trading on Sentiment
Author: Richard L. Peterson
Publisher: John Wiley & Sons
Total Pages: 368
Release: 2016-03-04
Genre: Business & Economics
ISBN: 1119163757
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In his debut book on trading psychology, Inside the Investor’s Brain, Rich­ard Peterson demonstrated how managing emotions helps top investors outperform. Now, in Trading on Sentiment, he takes you inside the science of crowd psychol­ogy and demonstrates that not only do price patterns exist, but the most predictable ones are rooted in our shared human nature. Peterson’s team developed text analysis engines to mine data - topics, beliefs, and emotions - from social media. Based on that data, they put together a market-neutral social media-based hedge fund that beat the S&P 500 by more than twenty-four percent—through the 2008 financial crisis. In this groundbreaking guide, he shows you how they did it and why it worked. Applying algorithms to so­cial media data opened up an unprecedented world of insight into the elusive patterns of investor sentiment driving repeating market moves. Inside, you gain a privi­leged look at the media content that moves investors, along with time-tested techniques to make the smart moves—even when it doesn’t feel right. This book digs underneath technicals and fundamentals to explain the primary mover of market prices - the global information flow and how investors react to it. It provides the expert guidance you need to develop a competitive edge, manage risk, and overcome our sometimes-flawed human nature. Learn how traders are using sentiment analysis and statistical tools to extract value from media data in order to: Foresee important price moves using an understanding of how investors process news. Make more profitable investment decisions by identifying when prices are trending, when trends are turning, and when sharp market moves are likely to reverse. Use media sentiment to improve value and momentum investing returns. Avoid the pitfalls of unique price patterns found in commodities, currencies, and during speculative bubbles Trading on Sentiment deepens your understanding of markets and supplies you with the tools and techniques to beat global markets— whether they’re going up, down, or sideways.

The Crowd

The Crowd
Author: Gustave Le Bon
Publisher:
Total Pages: 680
Release: 1897
Genre: Crowds
ISBN:
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Time Compression Trading

Time Compression Trading
Author: Jason Alan Jankovsky
Publisher: John Wiley & Sons
Total Pages: 210
Release: 2010-09-02
Genre: Business & Economics
ISBN: 0470892501
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Uncover profitable trading opportunities by exploiting the multiple time frames traded by different market participants In virtually all traded markets there are traders working on short-term, medium-term, and long-term perspectives. Each class of trader has different keys for entering and exiting the market. By identifying those keys and understanding where these traders intersect, a trader can spot profitable trading opportunities. In Time Compression in Trading, author Jason Jankovsky explains the structure of the market through the prism of the time frames of different trader groups. In practical terms, he shows how to identify the probable entry and exit points of short term, medium term, and long term traders. He also explains why traders should pay particular attention to the weakest and strongest hands in a market in order to trade in concert with the stronger market players. Breaks new ground in its analysis of market structure and at the same time, provides practical, actionable ideas for better trading Reveals how to profit from the actions of market participants operating in different time frames Discusses why traders should pay close attention to the time frames of other traders when analyzing markets If you want to learn how to trade more effectively by understanding market structure and what other traders are doing, Time Compression in Trading is a must read.

Dark Pools

Dark Pools
Author: Scott Patterson
Publisher: Crown Currency
Total Pages: 386
Release: 2012-06-12
Genre: Business & Economics
ISBN: 0307887197
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A news-breaking account of the global stock market's subterranean battles, Dark Pools portrays the rise of the "bots"--artificially intelligent systems that execute trades in milliseconds and use the cover of darkness to out-maneuver the humans who've created them. In the beginning was Josh Levine, an idealistic programming genius who dreamed of wresting control of the market from the big exchanges that, again and again, gave the giant institutions an advantage over the little guy. Levine created a computerized trading hub named Island where small traders swapped stocks, and over time his invention morphed into a global electronic stock market that sent trillions in capital through a vast jungle of fiber-optic cables. By then, the market that Levine had sought to fix had turned upside down, birthing secretive exchanges called dark pools and a new species of trading machines that could think, and that seemed, ominously, to be slipping the control of their human masters. Dark Pools is the fascinating story of how global markets have been hijacked by trading robots--many so self-directed that humans can't predict what they'll do next.

The Art of Contrarian Trading

The Art of Contrarian Trading
Author: Carl Futia
Publisher: John Wiley & Sons
Total Pages: 279
Release: 2009-06-08
Genre: Business & Economics
ISBN: 0470495766
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Why is it so hard to beat the market? How can you avoid getting caught in bubbles and crashes? You will find the answers in Carl Futia’s new book, The Art of Contrarian Trading. This book will teach you Futia’s novel method of contrarian trading from the ground up. In 16 chapters filled with facts and many historical examples Futia explains the principles and practice of contrarian trading. Discover the Edge which separates winning speculators from the losers. Find out how to apply the No Free Lunch principle to identify profitable trading methods. Learn about the wisdom and the follies of investment crowds – and how crowds are formed by information cascades that drive stock prices too high or too low relative to fair value. Discover the power of your Media Diary - and how to use it to spot these information cascades, measure the strength of the crowd’s beliefs, and decide when the crowd’s view is about to be proven wrong. You will watch Futia apply these principles of contrarian trading to navigate safely and profitably through the last 26 tumultuous years of roller coaster swings in the U.S. stock market – a time during which Futia kept his own media diary and developed his Grand Strategy of Contrarian Trading. See how this Grand Strategy worked during the Great Bull Market of 1982-2000. Watch the Contrarian Rebalancing technique in practice during the dot.com crash of 2000-2002. Find out when the Aggressive Contrarian Trader bought and sold during the bull market of 2002-2007. Read about the causes of the Panic of 2008 and ups and downs of contrarian trading during that dangerous time. Futia shows you how the market turning points during the 1982-2008 period were foreshadowed by magazine covers and newspaper headlines that astonishingly and consistently encouraged investors to do the wrong thing at the wrong time. By monitoring crowd beliefs revealed by news media headlines – and with the guidance provided by the many historical examples Futia provides – a trader or investor will be well-equipped to anticipate and profit from market turning points.

7 Winning Strategies For Trading Forex

7 Winning Strategies For Trading Forex
Author: Grace Cheng
Publisher: Harriman House Limited
Total Pages: 264
Release: 2010-04-19
Genre: Business & Economics
ISBN: 0857190245
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Many traders go around searching for that one perfect trading strategy that works all the time in the global FOREX (foreign exchange/currency) market. Frequently, they will complain that a strategy doesn't work. Few people understand that successful trading of the FOREX market entails the application of the right strategy for the right market condition. 7 Winning Strategies For Trading Forex covers: - Why people should be paying attention to the FOREX market, which is the world's largest and most liquid financial market - How understanding the structure of this market can be beneficial to the independent trader - How to overcome the odds and become a successful trader - How you can select high-probability trades with good entries and exits. Grace Cheng highlights seven trading strategies, each of which is to be applied in a unique way and is designed for differing market conditions. She shows how traders can use the various market conditions to their advantage by tailoring the strategy to suit each one. This revealing book also sheds light on how the FOREX market works, how you can incorporate sentiment analysis into your trading, and how trading in the direction of institutional activity can give you a competitive edge in the trading arena. This invaluable book is ideal for new and current traders wanting to improve their trading performance. Filled with practical advice, this book is a must-read for traders who want to know exactly how they can make money in the FOREX market.

The New Trading for a Living

The New Trading for a Living
Author: Alexander Elder
Publisher: John Wiley & Sons
Total Pages: 304
Release: 2014-09-29
Genre: Business & Economics
ISBN: 1118963679
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The best-selling trading book of all time—updated for the new era The New Trading for a Living updates a modern classic, popular worldwide among both private and institutional traders. This revised and expanded edition brings time-tested concepts in gear with today's fast-moving markets, adding new studies and techniques for the modern trader. This classic guide teaches a calm and disciplined approach to the markets. It emphasizes risk management along with self-management and provides clear rules for both. The New Trading for a Living includes templates for rating stock picks, creating trade plans, and rating your own readiness to trade. It provides the knowledge, perspective, and tools for developing your own effective trading system. All charts in this book are new and in full color, with clear comments on rules and techniques. The clarity of this book's language, its practical illustrations and generous sharing of the essential skills have made it a model for the industry—often imitated but never duplicated. Both new and experienced traders will appreciate its insights and the calm, systematic approach to modern markets. The New Trading for a Living will become an even more valuable resource than the author's previous books: Overcome barriers to success and develop stronger discipline Identify asymmetrical market zones, where rewards are higher and risks lower Master money management as you set entries, targets and stops Use a record-keeping system that will make you into your own teacher Successful trading is based on knowledge, focus, and discipline. The New Trading for a Living will lift your trading to a higher level by sharing classic wisdom along with modern market tools.

One-way Pockets

One-way Pockets
Author: Don Guyon
Publisher: Cosimo, Inc.
Total Pages: 69
Release: 2005-12-01
Genre: Business & Economics
ISBN: 1596056541
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The circulation of a mere rumor that the Morgan interests are accumulating Steel or that the Standard Oil crowd is getting out of St. Paul is sure at any time to create a market following. Most of the tips that are hawked about the Street are based on the supposition that somebody-or-other of consequence is buying or selling certain stocks. I do not know of a single case where anyone has been able to make money consistently by following information of this character, even when the information comes to him first hand. -from "A Speculative Decision" In 1917, an insider at a Wall Street brokerage firm took a close look at his company's most active traders and analyzed their trades to glean the secrets of their success... and what he found is still applicable today. Writing pseudonymously, he here offers a wide range of sage advice about: .buying on the way down .determining trends .how a bull market starts .the correct use of stop orders .when and what to sell short .and more.