Michael Harris – Short Term Trading with Price Patterns

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Description

This book was designed with two goals in mind: to give particular trading systems to futures traders and to present a technique for using these trading systems in systematic trading. To win in futures trading, each of these aspects must function in tandem. An excellent trading system creates the possibility of lucrative trading. In response, a good trader employs a trading methodology to capitalize on this opportunity in an acceptable and consistent manner with the needs of the trading system in use. The trader/system combination’s harmonic collaboration will eventually lead to consistent long-term earnings.

The global financial system, of which futures markets are a key component, is a highly complex and dynamic process. Technological advancements have permitted the quick transfer of cash between investment vehicles located on opposite corners of the globe. Even the most well-educated and well-trained human minds appear to find it challenging to foresee capital movement in a way that leads to consistent profits. Sudden market price reversals can wipe out prior hard-earned profits in a matter of hours, or even turn into devastating losses. It might be tough to recoup your losses.

The approaches and methods demonstrated in this book seek to deal with the nature of futures markets by employing a short-term trading strategy based on previous price trends. These patterns are simple to create on a computer and may be tracked on a regular basis. Positions can be taken at the end of the day on which a pattern formation is completed or at the start of the next trading day. As soon as the trade is formed, a profit objective and a stop loss are set. A trade’s average duration can range from one to a few days, depending on the profit and loss objectives of the specific patterns used in the trading system model.

The book is divided into three sections: 1) Backgrounds; 2) Trading with Short-Term Price Patterns; and 3) Price Pattern Library.

Author Information

Michael Harris has spent the last 15 years developing technical trading systems for the futures and stock markets, and the last 13 years trading actively. His research focuses on the application of historical price patterns to short-term and day trading.

He is the creator of the p-Indicator, a new technical indicator.

Mike finished fourth in the World Cup Championship of Futures Trading in 1994. He has frequently spoken at OmegaWorld’s annual conferences.

Mike has a master’s degree in Systems Engineering from SNY at Buffalo and a master’s degree in Operations Research from Columbia University.

He has previously worked for Bell Laboratories and several Wall Street firms.

Michael is currently the president of Harrison Holdings, Ltd., a hedge fund consulting firm. Mr. Harris also provides a day and short-term trading service via the Internet.

Forex and Trading – Foreign Exchange Training

Do you want to learn about Forex?

Foreign exchange, sometimes known as FX, is the exchange of one country’s currency for another.
A country’s currency is valued according to supply and demand laws in a free economy.
In other words, the value of a currency might be tied to the value of another country’s currency, such as the US dollar, or even to a basket of currencies.
The government of a country may also establish the value of its currency.
Most countries, however, freely float their currencies against those of other countries, causing them to fluctuate constantly.

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