From the Inside Flap
For over fifteen years, Mark Fisher has taught thousands ofpeople-from traders on the floors of major exchanges to individualinvestors in front of computer screens-how to trade stocks,commodities, even currencies, using his highly successful andinnovative ACD method. Now, in The Logical Trader: Applying aMethod to the Madness, Fisher will teach you how to use the ACDmethod to trade more effectively and profitably than everbefore.
The Logical Trader opens with an in-depth discussion that outlinesthe basics of the ACD method-plotting particular price points inrelation to the opening range-and shows you how this method allowsyou to gain reference points against which to trade the "A" and "C"points for entry and the "B" and "D" points as stops. You'll alsolearn about pivot ranges and how you can combine them with ACD tomaximize position size while minimizing your risk.
Along the way, Fisher discusses some very important psychologicalissues-No Ego, Gaming Theory, and The Concept of "Next!"-that, whencombined with ACD, can be adapted to any trading style ormethodology. After a question-and-answer section designed to assesswhat you've learned in the first half of the book, The LogicalTrader continues to show you how to use the ACD method in tandemwith other trading tools by:
* Exploring strategies using pivot moving averages, such as movingaverage fake-out (MAF) and moving average divergence trades(MAD)
* Discussing various trading strategies that allow you to exittrades at the optimal time
* Highlighting trading stories that involve risk managementstrategies
Step by step, The Logical Trader will show you how to use the ACDmethod to calculate the prices above which you'd want to be longand the prices below which you'd want to be short. Using otherindicators and measures, which are layered on top of the ACD base,you'll also learn how to construct a trading plan based uponprevailing prices and market activity.
As long as the market you are trading has sufficient volatility andliquidity, you can use the ACD method for everything fromultra-short-term day trading to longer-term position trading.Whether you're a novice trader or you've been at it for years,you'll find that the ACD system has something to offer you and yourstyle of trading. Filled with real-world stories, accessibleexamples, and anecdotes of traders who have successfully used thismethod, The Logical Trader fully explains the ACD method and showsyou how to get the most out of it.
From the Back Cover
Praise for The Logical Trader
Applying a Method to the Madness
"Fisher's messianic willingness to share with the public thesuccessful system he has developed is an opportunity to beexploited."
-from the Foreword by Paul Tudor Jones
Chairman and CEO, Tudor Investment Corp.
"Mark takes the same mental approach to trading that professionalathletes and coaches use to succeed on the court. He has takenseveral college and pro athletes and provided them a game plan forlife after basketball."
-John Calipari, Head Basketball Coach, Memphis University
Former NBA Head Coach, New Jersey Nets
"I have been actively involved in the markets (foreign exchange,equities, derivatives) since the early 1970s-as a trader on theCBOT floor in the bond and note 'pits,' as a foreign exchangedealer at a large multinational bank, as the head of a bank'sfutures brokering operation, as a reasonably widely known analystof the world capital markets writing a daily commentary on thesemarkets, and as a trader on my own. I've read a myriad number of'how to' books on trading, most of which have proven to be oflittle merit, if any. However, from the outset, reading andunderstanding Mark's insights into his ACD system in The LogicalTrader, I've learned methods of trading that I probably understoodintuitively but now understand logically and with almost numericalrationality. The reading may be difficult for the beginning trader,but the lessons learned will be immediately beneficial; of that Iam certain. I strongly endorse this book for the beginner andprofessional trader alike."
-Dennis Gartman, Editor/Publisher, The Gartman Letter, LC
In trading, as in life, you need a plan. In The Logical Trader:Applying a Method to the Madness, expert trader Mark Fisher revealsa plan and a method that he has used for over twenty years tosuccessfully trade.
Mark Fisher has taught thousands of people-from traders on thefloors of major exchanges to individual investors in front ofcomputer screens-how to trade stocks, commodities, even currencies,using his highly successful and innovative ACD method. Now, in TheLogical Trader, Fisher will teach you how to use the ACD method totrade more effectively and profitably than ever before.