Sinopsis
I started my career in the financial markets the way most people do. I went to university, earned an honours degree in economics and entered my first full-time job at the age of 22 believing that the markets obeyed the laws of macro- and microeconomics I had just spent the last four years studying. How wrong I was! I have subsequently come to realise, as I think many people do, that the financial markets do not actually behave according to the textbook laws of economics and capital market theory. In fact, my own personal belief now is that the markets can (and will!) do anything at any point of time and “prediction”, as we commonly think of it, is a totally impossible and futile exercise. However, I do not look back and think that my years studying messrs Fischer, Begg, Dornbusch, the theory of comparative advantage, the theory of purchasing power parity, the capital asset pricing model and a host of other “laws” was a complete waste of time. Not at all and I will tell you why.
Content
- There is NO Holy Grail
- The “Nature” of Markets
- Volatility Defined
- Orthodox Pattern Recognition
- Japanese Candlesticks
- Volume Considerations
- Previous Highs and Lows
- Elliott Wave Principle
- Moving Average Envelopes
- Bollinger Band Width
- The ADX
- Point and Figure Charts
- Rate of Change and Divergence
- Williams %R
- Donchian Channels
- A Nod to the Quants
- Implied Volatility Curves
- The Volatility Smile
- My Mate
- Trend-Following Performance Indicator
- Trading Regime Indicator
- An Eclectic Approach
- Applications for Traders and Investors
- Trading Regime Analysis for Economists and Fundamentalists
- Case Studies
- There is Still No Holy Grail
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