The Big Trade: Simple Strategies for Maximum Market ReturnsHardback
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- Publisher: John Wiley & Sons Inc
- Format: Hardback | 208 pages
- Dimensions: 146mm x 220mm x 24mm | 380g
- Publication date: 12 February 2013
- Publication City/Country: New York
- ISBN 10: 111849895X
- ISBN 13: 9781118498958
- Sales rank: 755,030
A powerful, profitable, and elegantly simple system for traders Markets can be extraordinarily complex, and unfortunately most trading systems are too. The Big Trade presents a new system that helps filter out the noise. It leaves behind only meaningful signals you need to listen to in order to make profitable trades. Employing simple math and charts, it codifies the past behavior of traders in your favourite stock to assist you to recognize high probability trading patterns. Peter Pham's system breaks with traditional analytical tools and rejects the theory of predictability. Instead, it lets traders understand both how markets are structured and how they behave. The result is a simple action plan that is as effective and applicable for day traders as it is for generational investors. Blending his personal story and analytical techniques, The Big Trade guides traders of all experience level to find the probability that a stock price will rise or fall in a particular time period. The Big Trade : Gives traders a powerful, yet simple trading methodology Was written by a trader with twelve years of both buy and sell side experience in global equities trading Is appropriate for most styles of trading, including institutional investing and day trading For traders who want a universal approach that works for any market at any time, The Big Trade offers a new and effective methodology for successful trading without gimmicks or magic formulas.
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PETER PHAM is recognized worldwide as an expert consultant in global equities with more than twelve years of experience in all aspects of capital markets. He has held senior positions at several respected brokerage and investment firms, and worked with some of the world's largest international funds. Pham's site, AlphaVN.com, is an independent research and consulting firm focused on Southeast Asia, where he publishes his views on the capital markets and trading daily. He was a rated broker in Asiamoney 's 2012 Broker Poll of fund managers and currently resides in Ho Chi Minh City, Vietnam.
Back cover copy
Praise for "The Big Trade" "It has never been more important for investors--individual and institutional alike--to have a firm handle on the nexus between East and West. Fortunately, we have Peter Pham, whose experience allows him to transcend borders and focus on what matters most." --Joshua Morgan Brown, author of "The Reformed Broker," (www.thereformedbroker.com) "A refreshingly honest and direct account of the difficulties of trading and how to succeed. Peter Pham's genuine passion and engaging style makes it not only an easy read but a must-read 'truth' book for all traders. His insightful explanation of the challenges facing traditional technical analysis is one of the best I've read. This is a book that both new and experienced traders will come to value." --Brent Penfold, trader and advisor (www.indextrader.com.au) and author of "The Universal Principles of Successful Trading" "Traders have had to battle the markets, themselves, and each other since the dawn of commerce. They now have to battle a new element: machines devoid of emotion and limited in their adaptability but capable of overwhelming people by virtue of speed and often their weight of volume. Peter Pham's refreshingly honest approach to market analysis and trading as a business is a great start for everyone in our strange new market battleground, where all of the old rules still apply and no one yet has figured out what the new hybrid of man vs. man vs. machine will look like." --Howard L. Simons, President of Simons Research
Powerful "tools of the trade" for traders and investors of every ilk--from day traders to position traders to buy-and-hold investors Trading systems shouldn't be as complex as the markets themselves. But finding a simple trading system capable of filtering out all the noise and extracting gold from the ore of raw market data can take years of frustrating and expensive trial and error. Unless, that is, you have a wise and patient mentor like Peter Pham. "The Big Trade" combines Pham's account of his personal journey on the road to trading success--and the powerful lessons he learned along the way--with valuable insights into the strategies of some of the most successful traders of all time. He describes how, through years of testing, analysis, and practice, he arrived at the principles and practices that form the basis of his trading system--a system with which he has achieved nothing less than astonishing success. "The Big Trade" delivers: A holistic trading system based on a deep understanding of how the market is structured and how it behaves as well as time-tested trading principles and practices A simple, highly effective method for assessing risk and reward and finding high-probability opportunities that's as easy to learn as it is to use Basic math and charts that help you to clearly define past trading behaviors for specific stocks--without gimmicks or magic formulas Powerful analytical techniques that go beyond traditional price analysis to focus on price trend probabilities across an array of time intervals Proven strategies for trading success adapted from trading legends, such as Toby Crabel and Victor Niederhoffer Keen insights into human behavior and pattern recognition and how to translate that knowledge to stock trading success. Arming you with a simple, proven approach to assessing the markets and defining your odds of success when making a trade, "The Big Trade" is a must-have resource for traders and investors of all styles and levels of experience--from novice day traders to seasoned institutional investors.
Table of contents
Acknowledgments xi Preface xiii Chapter 1 Breaking with Tradition 1 Then I Got High 1 Training Sequence 5 Technical Difficulties 8 Reading Is Fundamental 17 Inductively Coupled Failure 19 The Big Trade 22 We're Getting the Band Back Together 23 Summary 26 Chapter 2 The Conditions of Change 27 Livin' on the Edge 27 Closing Time 31 The Outsiders 36 Living Day to Day 38 Sold to the Highest Bidder 42 Breaking It Down 49 Finites Move in Infinite Markets 55 Summary 61 Chapter 3 Wax On, Wax Off 63 What Goes Around Comes Around 63 It's Always Noon Somewhere 71 Opening Range Jitters 77 Objects in Motion 84 Summary 89 Chapter 4 As the Market Turns ... 91 Subconscious Implications 91 Elephant Walk 95 Breakouts versus Reversals 98 Losing Your Inhibitions 100 Reversal of Fortune 103 Traders Do It with Frequency 111 Rules of Engagement 112 Turn Around and Make Money 116 Heading for the Exits 119 Becoming a Reactionary 125 Summary 126 Chapter 5 The Range Is Your Friend 129 Sideways 129 Waves of Sentimentality 132 Where Are They Now? 135 The Edge of Value 137 The Great One 141 Summary 143 Chapter 6 Closing Arguments 145 Crossing the Great Stream 145 Pressing the Issues 150 The Point of the Journey Is Not to Arrive 153 Summary 156 Appendix A Terms and Definitions 159 Appendix B Trading Examples 163 Appendix C Spreadsheet Examples 181 Appendix D Supporting Data for Nvidia Example in Chapter 4 183 About the Author 187 Index 189