In Unlocking Wealth - (278 pages), John Crane, a veteran trader and cofounder of Traders Network, discusses his work with the Action/Reaction trading theory, and illustrates a whole new way of using time, price, and patterns to predict, identify, and trade future market swings. Chapter by informative chapter, you ll be introduced to the concepts that encompass this proven method, including: Market Behavior, Reaction swings, Swing trading reaction swings, The Reaction cycle, Action and reaction lines, Entering and exiting trades, Reversal dates, Long-term versus short-term trends, And much more! Filled with practical advice from a seasoned veteran, real-world examples, and informative charts and graphs, Unlocking Wealth provides a comprehensive look at the art of swing trading. This valuable book offers clear, step-by-step guidance that will allow you to apply the swing trading methodology to any portfolio and improve your bottom line.
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Editorial Reviews
Review
Swing trading is one of the hottest - and most effective - tools for today s active traders, and John Crane brings a fresh new perspective and a true trading edge to this important concept. ---Jonathan Dean, Vice President, FutureSource
We ve long touted the benefits of this powerful investment strategy at MrSwing.com, and John Crane s new work makes an excellent addition to the body of educational material available on swing trading. His cutting-edge techniques are right on the money. ---Larry Swing, MrSwing.com
We ve long touted the benefits of this powerful investment strategy at MrSwing.com, and John Crane s new work makes an excellent addition to the body of educational material available on swing trading. His cutting-edge techniques are right on the money. ---Larry Swing, MrSwing.com
About the Author
John Crane has been an active trader for decades, and is a founding owner of Traders Network-a firm providing both brokerage services and educational training products for today's intelligent investor. Articles on his trading concepts have been published in Consensus, Barron's, Technical Analysis of Stocks and Commodities as well as The Wall Street Journal, Investor's Daily, and Traders World. Having taught numerous seminars on technical analysis, he has also served as director of research and a contributing analyst for the Pacific Research Center. John served on the Board of Directors and as a president of the National Introducing Brokers Association. In addition, he is a developer of the Trade Simulator Pro and author of "A Traders Handbook: The Reversal Day Phenomenon" and "Advanced Swing Trading, Strategies to Predict, Identify, and Trade Future Market Swings". John is the co-editor of the Traders Market Views newsletter, now in its 18th year of publication. His market comments can be read nightly on the Reversal Date Worksheet.
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Customer Reviews
Most Helpful Customer Reviews
49 of 51 people found the following review helpful
This book explains, in great detail, how to use market symmetry to forecast time and price objectives on market swings. The author bases his time calculations upon measurements beginning at the formation of a reaction swing, and shows how the results of these calculations can be projected forward in time to indicate the likely extent of the ensuing price swing. While the author's previous book tended to be somewhat inconsistent in its calculations, the methodology in this book is both consistent and precise. I had no difficulty in following the presentation of the material or in confirming the counts on the accompanying charts.
The author derives price targets by employment of an "Andrews' Pitchfork" drawn in a specified manner. While these price projections are not quite as accurate as the time projections, the variance of acutal to forecast price indicates much about the underlying strength of the immediate price trend. Both time and price calculations are very useful and are reasonably accurate. I have now incorporated this material into my trading routine.
The book offers a really complete course on trading. It describes trend reversal and continuation constructs (in multiple timeframes) -- how to use them for optimal entry, the need for a protective stop, how/when/where to exit, and what to do if larger market forces override current projections. It also describes a method of trading with options -- a covered write based upon the concept of delta -- which is profitable if the underlying issue moves a minimum distance in either direction in an active market.
This book is unique. I am not aware of any other work which describes how to use time and price in an overall trading system as practically or precisely as is presented. The methods offered can be used as the basis of a stand-alone trading system, or as additional working tools for one's own system. This material has added a new dimension to how I view the trading markets.
The author derives price targets by employment of an "Andrews' Pitchfork" drawn in a specified manner. While these price projections are not quite as accurate as the time projections, the variance of acutal to forecast price indicates much about the underlying strength of the immediate price trend. Both time and price calculations are very useful and are reasonably accurate. I have now incorporated this material into my trading routine.
The book offers a really complete course on trading. It describes trend reversal and continuation constructs (in multiple timeframes) -- how to use them for optimal entry, the need for a protective stop, how/when/where to exit, and what to do if larger market forces override current projections. It also describes a method of trading with options -- a covered write based upon the concept of delta -- which is profitable if the underlying issue moves a minimum distance in either direction in an active market.
This book is unique. I am not aware of any other work which describes how to use time and price in an overall trading system as practically or precisely as is presented. The methods offered can be used as the basis of a stand-alone trading system, or as additional working tools for one's own system. This material has added a new dimension to how I view the trading markets.
27 of 28 people found the following review helpful
I have lost count of the number of trading books I have read since the mid-70's. The first book was the late JM Hurst's classic, "The Profit Magic of Stock Transaction Timing". John Crane's "Unlocking Wealth" now sits in my trading library alongside the truly great trading books ever published. It is the only book I have ever read that makes it practical to use market structure alone to forecast both price and time. I am not saying that other books don't address price and time (Gann, Elliott, others). I simply have not found other approaches to be practical to use. Crane's approach is both practical and effective.
I read this book in search of methodologies to filter trades for the system I was using. The method is so powerful that I have now made Crane's approach my main strategy...and use a different methodology as a prefilter.
The book clearly describes two basic market structures (Trend Reversal and Trend Continuation). The appearance of these commonly found patterns usually reveals the true nature of the market...and future price at a point in time. Crane's methodology does not rely on optimization techniques, lagging indicators, general fundamental information, astrological events, or complex equations. It's pure market structure in a practical manner. Simple and elegant. The methodology gives you the ability to listen to what the market is saying about itself based on its own structure.
The core market structures explained in the book are nearly identical to patterns I have used successfully for years. The book taught me more about the nature of these patterns...and how to trade the patterns better. One of the most valuable things for me was Crane's methodology for managing trades that are in progress. Cutting losses early and letting profits run is easier said than done...until you read this book.
The methodology can be used with other trading strategies. I am combining Crane's methods with Hurst's cycle methods to increase the probability of trading in the correct direction. Either way...I find merit in using Crane's approach as a stand-alone system. You can use it without a computer - you don't have to buy expensive software to implement it - and there is little ambiguous about how it is used. It is now difficult for me to look at a chart without looking at it through Crane's eyes. The book may take a few days to read because it includes more trading examples than was probably necessary...but this can help to internalize the method.
This book gives me the edge I have sought for years. I can't imagine trying to manage a trade in the future without the precise knowledge of when and where price is likely to go....and reverse.
If you are looking for a trading approach that is practical and effective...or just looking to enhance a system that is already effective...I suggest you read this book.
I read this book in search of methodologies to filter trades for the system I was using. The method is so powerful that I have now made Crane's approach my main strategy...and use a different methodology as a prefilter.
The book clearly describes two basic market structures (Trend Reversal and Trend Continuation). The appearance of these commonly found patterns usually reveals the true nature of the market...and future price at a point in time. Crane's methodology does not rely on optimization techniques, lagging indicators, general fundamental information, astrological events, or complex equations. It's pure market structure in a practical manner. Simple and elegant. The methodology gives you the ability to listen to what the market is saying about itself based on its own structure.
The core market structures explained in the book are nearly identical to patterns I have used successfully for years. The book taught me more about the nature of these patterns...and how to trade the patterns better. One of the most valuable things for me was Crane's methodology for managing trades that are in progress. Cutting losses early and letting profits run is easier said than done...until you read this book.
The methodology can be used with other trading strategies. I am combining Crane's methods with Hurst's cycle methods to increase the probability of trading in the correct direction. Either way...I find merit in using Crane's approach as a stand-alone system. You can use it without a computer - you don't have to buy expensive software to implement it - and there is little ambiguous about how it is used. It is now difficult for me to look at a chart without looking at it through Crane's eyes. The book may take a few days to read because it includes more trading examples than was probably necessary...but this can help to internalize the method.
This book gives me the edge I have sought for years. I can't imagine trying to manage a trade in the future without the precise knowledge of when and where price is likely to go....and reverse.
If you are looking for a trading approach that is practical and effective...or just looking to enhance a system that is already effective...I suggest you read this book.
20 of 20 people found the following review helpful
I liked John Crane's first book "Advanced Swing Trading", but this book is much better. Unlike other traders-come-authors, John Crane does not switch tack with this book and discuss some new and different ways of analyzing the market. No, he sticks to his original theories, expands on the methodology and does a much better job of explaining and illustrating it. The only thing I didn't like was the title - too "get rich quick" for me.
John Crane's market timing approach is one of the most elegant futures trading methodologies I've seen. It focuses on market structure and using impulse and reaction swings to identify entry and exit points.
The basic component of the methodology is the Reaction swing--a counter-trend move--that is used to confirm a new trend and then identify a low risk entry point. Not revolutionary, but then John Crane uses a count back to a previous swing point to forecast the future turning point. Now that is new!
So the Reaction swing gives you the trend continuation entry point. The count back gives you the projected exit time. John Crane then goes on to show how the exit can be further refined with price projections. Lastly, a methodology for identifying and entering a trend reversal is discussed. This last part was missing from the original book "Advanced Swing Trading" and now with this, the methodology is complete.
The book is packed full of swing and day trading examples from both the futures and stock markets - and the accuracy of this timing technique is uncanny.
John Crane's market timing approach is one of the most elegant futures trading methodologies I've seen. It focuses on market structure and using impulse and reaction swings to identify entry and exit points.
The basic component of the methodology is the Reaction swing--a counter-trend move--that is used to confirm a new trend and then identify a low risk entry point. Not revolutionary, but then John Crane uses a count back to a previous swing point to forecast the future turning point. Now that is new!
So the Reaction swing gives you the trend continuation entry point. The count back gives you the projected exit time. John Crane then goes on to show how the exit can be further refined with price projections. Lastly, a methodology for identifying and entering a trend reversal is discussed. This last part was missing from the original book "Advanced Swing Trading" and now with this, the methodology is complete.
The book is packed full of swing and day trading examples from both the futures and stock markets - and the accuracy of this timing technique is uncanny.
Most Recent Customer Reviews
One Trick Pony
This trading methodology is based on only one pattern. That pretty much sums it up right there. I find the pattern to be unreliable in stocks, however, the author primarily trades... Read more
Published 21 months ago by Kangaroo
Very good insights... bad poor edition!!!!
The book has interesting and useful insights. Some setups are similar to those described by Joe Ross is his book "Trading by the Book. Read more
Published on March 13, 2010 by Tonicarlo R. Velasco
It works !
With John Crane's book you will be able to define in advance the market turning points as well as the duration of a trend. Read more
Published on August 10, 2008 by Felipe Tudela
Inside This Book
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First Sentence:
Almost anyone can open a stock account or commodity trading account. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
first price bar, breakout bar, initial target price, pivot low, two consecutive higher, downward trending market, pivot price, reverse count, count equaled, lowest closing price, upward trending market, corrective rally, new contract low, closing price bar, market gapped, strong trending market, previous pivot, protective stop, new downward trend, low pivot, sell window, high pivot, swing pattern, reversal bar, consecutive lower Key Phrases - Capitalized Phrases (CAPs): (learn more)
Dow Jones, Dell Inc, Baker Hughes Inc, Treasury Bonds, Microsoft Corporation, Trident Microsystems Inc, December Coffee, December Hogs, Las Vegas Sands Corporation, September Wheat, Billiton Ltd, August Gold, March Crude, Market Tells, Gold Figure, September Cocoa, September T-Bonds, Coffee Figure, Covered Write, Trade Simulator, Trading Indicator, November Crude, December Cattle, Hogs Figure, May Soybeans New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Almost anyone can open a stock account or commodity trading account. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
first price bar, breakout bar, initial target price, pivot low, two consecutive higher, downward trending market, pivot price, reverse count, count equaled, lowest closing price, upward trending market, corrective rally, new contract low, closing price bar, market gapped, strong trending market, previous pivot, protective stop, new downward trend, low pivot, sell window, high pivot, swing pattern, reversal bar, consecutive lower Key Phrases - Capitalized Phrases (CAPs): (learn more)
Dow Jones, Dell Inc, Baker Hughes Inc, Treasury Bonds, Microsoft Corporation, Trident Microsystems Inc, December Coffee, December Hogs, Las Vegas Sands Corporation, September Wheat, Billiton Ltd, August Gold, March Crude, Market Tells, Gold Figure, September Cocoa, September T-Bonds, Coffee Figure, Covered Write, Trade Simulator, Trading Indicator, November Crude, December Cattle, Hogs Figure, May Soybeans New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Books on Related Topics
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