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The Big Trade: Simple Strategies for Maximum Market Returns Hardcover – February 12, 2013
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From the Inside Flap
Powerful "tools of the trade" for traders and investors of every ilkfrom 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 successand the powerful lessons he learned along the waywith 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 systema 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 stockswithout 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 experiencefrom novice day traders to seasoned institutional investors.
From the Back Cover
Praise for The Big Trade
"It has never been more important for investorsindividual and institutional aliketo 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
More About the Author
Pham's career stretches 15 years of experience working in capital markets, including senior positions at several respected brokerage and investment firms, and work with some of the world's largest international funds. In March 2014 he founded Phoenix Capital, a Cayman Islands exempted asset management company that offers investment and financial advisory services. Pham currently manages the portfolio of Global Growth and Income Fund, an open-end global fund designed to outperform the MSCI-Barra World Free index with a mix of young high-growth and mature high-income vehicles.
Pham has been an active contributor to various media outlets for financial and trading information including The Motley Fool, Seeking Alpha, and CNN Money. Pham has also been featured multiple times on Bloomberg where he has discussed his views on topics such as Twitter expanding into Asia and the tensions between Vietnam and China. In addition, he has also been interviewed for notable financial news publications including Financial Times, Reuters, Dow Jones and The Wall Street Journal. His writing has also been featured in Active Trader, and websites like Minyanville, Euromoney, and Trading Markets.
Top Customer Reviews
Peter's approach helps to make that process easier by helping you assess the odds of a trade in a completely different way than traditional technical analysis.
What I was surprised by while reading this was how so many of these concepts are applicable outside of the markets. This is a very wise book, written by someone whose interests extend far beyond the next tick on a chart. I especially like the brief but powerful discussion about charts and optical illusions.
Peter's book cured me of drawing lines on charts and expecting them to mean something. I'm still not a good trader, but Peter's book explained to me why I'm not and that was more than worth the price of admission.
I have found the book to be both rich and subtle in philosophy. Peter is a pit bull on his obsession with figuring how to trade markets. He also never promises a magic bullet for trading markets. I especially appreciated his candid story of how his life turned out after attaining his goal.
You can take a seat at the table. You can learn to play the game successfully. You can still lose it all no matter how high your pile of chips becomes if you try to force the market. Thank you Peter. Your style of trading and the way that you communicate it is a breath of fresh air.
He outlines his intent in one sentence on page 24, "The good news is that I believe the merging of quantitative research and market expertise, chart analysis, and timing is not only possible but is the most successful approach to trading today." He calls it "simple", but I didn't get that feeling. If you love tracking stocks on spreadsheets, crunching numbers, and doing the math you will find this book pretty interesting. If you want to learn more about the stock market in general there are better works out there. In fact many of the leading online brokers offer good educational opportunities that I would recommend before investing your time in "The Big Trade."
Walking to work, Peter often passes by the same few streets. On one of those streets, Larry has observed that when Peter makes a left turn at the corner, he usually makes a stop at the coffee house. One morning, someone asked Larry to guess whether Peter would make a stop at that coffee house, while Peter was just about to walk past them. Larry did not answer immediately. He waited until Peter made his move at the street corner. If Peter had continued walking in the same direction or made a right turn at the corner, Larry would have answered "No!"; a left turn, and Larry would have answered "Probably!"
When trading stocks, we often have to engage in a similar kind of probabilistic reasoning about price movements. Say, the price of a stock has just gone up by 10 cents from its previous-day high 15 minutes after the opening bell. What should we make of it? Is the stock setting up for a new high? And if so, what's the likelihood that the stock price can go up as high as one dollar more within a week?
Just as Larry was smart to make use of probabilistic data built up from historical observations of Peter's movement patterns to inform his decision-making, Mr. Pham contends that we too can give ourselves a potential trading edge if we can make use of similar probabilistic data for a stock's price movement patterns. Mr. Pham shows us, in this book, how to build up such data from a stock's historical data (accessible for free through such sources as Yahoo, etc.Read more ›
Most Recent Customer Reviews
The ideas are good but not explained very well, also when I checked his examples the numbers don't come out properly, for example in one part he has a table that contains values... Read morePublished 2 months ago by Alberto Carli
Peter Pham takes most of the subjectivity out of trading by applying simple statistics from historical stock data. Read morePublished 2 months ago by Joao Cortez
I found much truth in the analysis presented and it helped me understand what parts of various trading systems I have used are based on probabilities and what parts are just... Read morePublished 13 months ago by Amazon Customer
Awesome read. It was a life changer for me. Truly and honestly! Feel free to contact me for an intellectual elaboration and eye opener. Read morePublished 13 months ago by Shon T3
Okay, I love this book because it stimulates thinking about how to use simple quantitative methods to discover a trading edge. Read morePublished 19 months ago by Amazon Customer
Most trading books are awful. The Big Trade is a slim volume that delivers with actual strategies, some nice inner-game tips and readable style. Read morePublished on August 15, 2013 by N. Johansen
I enjoyed reading this book. While the concepts presented by the book are interesting and thoughtful, I found the best part was that it challenged you to find your own strategies. Read morePublished on July 28, 2013 by jk
The strategy describe in the book is worth the reading. Tested it in FX and Commodity market, I am amazed at the effect fullnessPublished on June 30, 2013 by S. A. Salako
I cannot easily get into this book. Although his techniques make sense, his way of explaining them is too wordy or roundabout it some way - almost as if he was lengthening the... Read morePublished on June 22, 2013 by MussSyke