A Complete Guide to Technical Trading Tactics: How to Profit Using Pivot Points, Candlesticks & Other Indicators (Wiley Trading) [Hardcover]

John L. Person (Author)

Book Description

Series: Wiley Trading | Publication Date: April 21, 2004

A thorough trading guide from a professional trader
The Complete Guide to Technical Trading Tactics can help the new individual investor understand the mechanics of the markets. Filled with in-depth insights and practical advice, this book details what it takes to trade and shows readers how they can broaden their horizons by investing in the futures and options markets. The Complete Guide to Technical Trading Tactics outlines a variety of proven methodologies-pivot points, candlesticks, and other top indicators-so readers may use those that work best for them as well as make their own trading decisions without a second thought. Author John Person also shares his insights on a variety of trading technologies that will allow readers to gain a competitive edge in the market.
John L. Person (Palm Beach, FL) publishes The Bottom-Line Financial and Futures Newsletter, a weekly commodity publication that incorporates fundamental new developments as well as technical analysis using his trading system.

Editorial Reviews

From the Inside Flap

Are you looking for time-tested trading techniques that professional stock index and futures traders use?

Futures and options markets can be profitable arenas for both novice and experienced traders. But to come out on top, you must have a solid understanding of the markets, the technical tools used to trade them, and yourself.

After twenty-five years as abroker, trader, and educator in the futures and options field, John Person has associated with trading legends and manysuccessful traders and witnessed firsthand their strategies for success. Out of these real-time experiences, he shares the valuable insights you will find in A Complete Guide to Technical Trading Tactics. Novice and experienced alike will gain a better understanding of the mechanics of the markets and methodologies that work.

Person demonstrates multiple trading methodologies using pivot point analysis and shows you how you can implement these key calculations with other methods and indicators. To understand this approach, you don’t have to abandon your knowledge of traditional technical analysis techniques. All you have to do is be open to integrating the theories to help you confirm, validate, and identify entry and exit points when trading.

By learning how to better integrate elements of market analysis such as time and price, you’ll be ready to trade with confidence and achieve success. The proven methodologies that are discussed from the technical side include:

• Pivot points–a leading price indicator that is based on price points using different time frames
• Cycle analysis–which deals with predicting market turning points based on time
• Candle chart patterns–which are based on price relationships between the open, high, low, and close including past chart points such as old highs or lows
• Fibonacci ratio corrections and extension studies–which are based on past price points
• Mental thought processes–the last and maybe the most important aspect of trading, which will help you evaluate your psychological makeup and overcomerough spots to stay focused when trading

If you are to trade successfully, you need to understand that it requires hard work, discipline, and, above all, that you remain focused with the use of methodologies that pinpoint opportunities and help you take control of your emotions. A Complete Guide to Technical Trading Tactics will go a long way toward accomplishing these goals.

From the Back Cover

Praise for A complete guide to Technical Trading Tactics

"John Person does an excellent job of explaining how to apply technical analysis to the futures markets. Since futures trading is short-term in nature, it demands precision timing tools. A lot of those tools can be found in this new book."
––John Murphy
author of Technical Analysis of the Financial Markets and Intermarket Analysis

"Easy to read and easy to follow, A Complete Guide to Technical Trading Tactics is a book traders will love."
––Larry Williams
Legendary trader and author of Day Trade Futures Online and Long-Term Secrets to Short-Term Trading

"A Complete Guide to Technical Trading Tactics is replete with useful trading tips in a logical format, presented by a seasoned trader with a flair for telling it like it is . . . sure to enrich your pocketbook."
––Larry Pesavento
40-year veteran trader and former member of the CME

"There is a Japanese proverb: ‘He whose ranks are united in purpose will be victorious.’ This book skillfully reveals how to join the most important aspects of technical analysis including my favorite (of course) candlesticks. Covers the spectrum from market mechanics to chart analysis, pivot points (John’s specialty), order placement, and much more. Use this book! It will help you along the road to victory in your trading battles."
––Steve Nison, CMT
President, Candlecharts.com and author of Japanese Candlestick Charting Techniques and The Candlestick Course

"Brilliantly provides succinct descriptions and applications of technical trading techniques, gives a solid overview of the derivatives market, shows how to identify and work with a broker, and presents issues that a trader must face to be successful. A must-read for traders at all experience levels."
––Daniel M. Gramza
President, Gramza Capital Management, Inc.

"John Person provides readers the most valuable commodity they can buy on any exchange: the benefit of his vast knowledge and experience related to trading. His analysis and discussion of pivot points is an especially valuable contribution to trading literature."
––Edward D. Dobson
President, Traders Press, Inc.

See all Editorial Reviews

Product Details

• Hardcover: 288 pages
• Publisher: Wiley; 1 edition (April 21, 2004)
• Language: English
• ISBN-10: 047158455X
• ISBN-13: 978-0471584551
• Product Dimensions: 9.4 x 6.5 x 1.1 inches
• Shipping Weight: 1.1 pounds (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars  See all reviews (15 customer reviews)
• Amazon Best Sellers Rank: #489,917 in Books (See Top 100 in Books)

More About the Author

JOHN PERSON, CTA

John Person is a 30-year veteran of the Futures and Options Trading industry. He started on the Floor of the Chicago Mercantile Exchange back in 1979. This was the premier exchange which launched foreign currency trading. He then had the privilege of working with George Lane, the innovator of the stochastic indicator.
John has worked his way throughout the industry as a independent Trader, Broker, Analyst and Branch Manager for one of Chicago's largest discount / full service firms under the direct supervision of a former Chairman of the Chicago Board of Trade. He is the former owner and President of First National Futures Group, Inc. and is continuing his work as a registered Commodity Trading Advisor.
John has shared his wealth of knowledge in the field of technical analysis, his trading style and system development and has taught thousand of traders including members of the largest exchanges. He is the author of three nationally and internationally popular trading books as well as two trading courses and a DVD seminar series.
The Nations most respected business journalists call John Person for his market opinions. He is widely quoted by CBS Market Watch, Reuters, Dow Jones Newswires, and appears regularly on CNBC as well. He is a sought after speaker for many professional organizations such as the Market Technicians Association (MTA ) , the International Federation of Technical Analyst Society (IFTA) and delivers Keynote Speeches and Seminars at some of the Countries Top National Investment Expos.
John Person author of The Complete Guide to Technical Analysis for the Futures Markets, by John Wiley and Sons was the first ever to introduce traders to a powerful combination of candlesticks and pivot point analysis.
His second book, took traders to an entirely different level. In his book Candlestick and Pivot Point Trading Triggers + CD-ROM: Setups for Stock, Forex, and Futures Markets, he included a pivot point calculator, instructional videos and exact rules for entries and exits on trades.
In his third book, Forex Conquered: High Probability Systems and Strategies for Active Traders, again by John Wiley Publishers, he broke ground for currency traders in that he included many forms of FX vehicles, trading styles and how one can integrate technical analysis fro entries and exits and objectives. He also shares a trading system with the codes for Genesis and tradestation users.
John has completed two amazing trading courses, the first is "Trading Triggers - The Secrets to Profitable Trading" and a four hour special FOREX trading course available for purchase on our website and his latest DVD course. In 1998, he developed his own proprietary trading system and began publishing "The Bottom-Line Financial and Futures Newsletter", a weekly commodity publication that incorporates fundamental developments as well as technical analysis that includes the data from his trading system, using pivot points combined with candlesticks. In addition, John Person provides his clients with daily, weekly and monthly research including his daily, weekly and monthly numbers as well as the Daily Dow Jones Report posted on our web site in the Research and Analysis section of our website.
John has created and launched FX Pro-Trigger system with one goal in mind: to provide investors with the ability to achieve a diversified investment portfolio based on a time tested trading plan, which is fully automated, so that it can capture trading signals in order for active traders with the proper risk capital to achieve their investment goals without monitoring the foreign exchange markets around the clock, 24 hours a day five days a week.
John's thorough understanding of the futures industry makes him qualified to offer his clients a balanced perspective of the trading industry. In addition, the personal contacts he has developed around the world and in the financial industry have been instrumental in helping him gain an edge on information pertaining to the markets

Customer Reviews

Most Helpful Customer Reviews

50 of 51 people found the following review helpful:

2.0 out of 5 stars This was a disapointing read..., June 22, 2006

By 

Harvester (Houston, TX) - See all my reviews

Amazon Verified Purchase

This review is from: A Complete Guide to Technical Trading Tactics: How to Profit Using Pivot Points, Candlesticks & Other Indicators (Wiley Trading) (Hardcover)

I agree with a couple of posts that say this is a very basic book, and that most of the information could be found for free on the internet. I would go as far as to say that some information would be better if read on the internet.

The examples about pivots (the key part of the book), one chart after another were not easy to follow. The section on TA was woefully lacking. The author has a section on Gann theory, and more or less advises to go buy the book that Gann wrote. As it turns out, there is some pretty rich information about Gann on the web.

My biggest pet peeve about this book were the continual subliminal references (advertisements) to the author's subscription based website. Besides that, I did not like the blatent plugging of the people who praised his book on the back cover. It's okay for an author to put their website on the back of the book. If the information stands on it's own then I can go to the website to learn more. What's not cool is to give vauge trading strategies, then give some glowing account of how your subscription newsletter called the shots.

I did give the book two stars, which means I wasn't totally disapointed. He does stress a couple of good points regarding pivots, but it's all pretty basic beginner stuff.

33 of 40 people found the following review helpful:

2.0 out of 5 stars For the beginner, September 13, 2004

By 

Book Review "Trademan" (South Africa) - See all my reviews

This review is from: A Complete Guide to Technical Trading Tactics: How to Profit Using Pivot Points, Candlesticks & Other Indicators (Wiley Trading) (Hardcover)

This book is for the beginner and offers no information that cannot be found (for free) on other internet sites. It appears as if the author has written this book to make his methodology clearer to himself and in the process decided to sell it as a book. No earth shattering revelations to be found and definately not enough good quality examples.

A bit disappointed in the content but this book will be a good read for an absolute newbie in the field.

12 of 15 people found the following review helpful:

5.0 out of 5 stars Excellent Study Course, March 15, 2005

By 

Phyllis - See all my reviews

This review is from: A Complete Guide to Technical Trading Tactics: How to Profit Using Pivot Points, Candlesticks & Other Indicators (Wiley Trading) (Hardcover)

John Person provides an excellent overview of necessary trading tools. I learned a great deal from his book and his seminars. The best part about his book is that he is a trader by profession and the information he provides he utilizes. This book is a must have for traders interested in increasing their consistency and profits from trading