From the Inside Flap
For over fifteen years, Mark Fisher has taught thousands of people-from traders on the floors of major exchanges to individual investors in front of computer screens-how to trade stocks, commodities, even currencies, using his highly successful and innovative ACD method. Now, in The Logical Trader: Applying a Method to the Madness, Fisher will teach you how to use the ACD method to trade more effectively and profitably than ever before.
The Logical Trader opens with an in-depth discussion that outlines the basics of the ACD method-plotting particular price points in relation to the opening range-and shows you how this method allows you 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 also learn about pivot ranges and how you can combine them with ACD to maximize position size while minimizing your risk.
Along the way, Fisher discusses some very important psychological issues-No Ego, Gaming Theory, and The Concept of "Next!"-that, when combined with ACD, can be adapted to any trading style or methodology. After a question-and-answer section designed to assess what you've learned in the first half of the book, The Logical Trader continues to show you how to use the ACD method in tandem with other trading tools by:
* Exploring strategies using pivot moving averages, such as moving average fake-out (MAF) and moving average divergence trades (MAD)
* Discussing various trading strategies that allow you to exit trades at the optimal time
* Highlighting trading stories that involve risk management strategies
Step by step, The Logical Trader will show you how to use the ACD method to calculate the prices above which you'd want to be long and the prices below which you'd want to be short. Using other indicators and measures, which are layered on top of the ACD base, you'll also learn how to construct a trading plan based upon prevailing prices and market activity.
As long as the market you are trading has sufficient volatility and liquidity, you can use the ACD method for everything from ultra-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 your style of trading. Filled with real-world stories, accessible examples, and anecdotes of traders who have successfully used this method, The Logical Trader fully explains the ACD method and shows you how to get the most out of it.
From the Back Cover
Praise for The Logical Trader
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Applying a Method to the Madness
"Fisher's messianic willingness to share with the public the successful system he has developed is an opportunity to be exploited."
-from the Foreword by Paul Tudor Jones
Chairman and CEO, Tudor Investment Corp.
"Mark takes the same mental approach to trading that professional athletes and coaches use to succeed on the court. He has taken several college and pro athletes and provided them a game plan for life 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 the CBOT floor in the bond and note 'pits,' as a foreign exchange dealer at a large multinational bank, as the head of a bank's futures brokering operation, as a reasonably widely known analyst of the world capital markets writing a daily commentary on these markets, 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 of little merit, if any. However, from the outset, reading and understanding Mark's insights into his ACD system in The Logical Trader, I've learned methods of trading that I probably understood intuitively but now understand logically and with almost numerical rationality. The reading may be difficult for the beginning trader, but the lessons learned will be immediately beneficial; of that I am certain. I strongly endorse this book for the beginner and professional 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 reveals a plan and a method that he has used for over twenty years to successfully trade.
Mark Fisher has taught thousands of people-from traders on the floors of major exchanges to individual investors in front of computer screens-how to trade stocks, commodities, even currencies, using his highly successful and innovative ACD method. Now, in The Logical Trader, Fisher will teach you how to use the ACD method to trade more effectively and profitably than ever before.