Candlestick and Pivot Point Trading Triggers + CD-ROM: Setups for Stock, Forex, and Futures Markets (Hardcover)

by John L. Person (Author)
Key Phrases: trading vehicles, high close doji, higher closing highs, Townsend Analytics, Pivot Point Moving Average System, Chicago Board of Trade (more...)

Editorial Reviews

Product Description
In his first book, A Complete Guide to Technical Trading Tactics, John Person introduced traders to the concept of integrating candlestick charting with pivot point analysis. Now, in Candlestick and Pivot Point Trading Triggers, he goes a step further and shows you how to devise your own setups and triggers—in the stock, forex, and futures markets—based on a moving average approach.

From the Inside Flap
With instant electronic market access and powerful financial tools at their disposal, today's "technician"—one who practices the art of technical analysis—has more opportunities than ever before to profitably trade in a variety of markets. But in order to truly excel, you need a method that will allow you to identify market moves, and strategies that will allow you to make the most of those moves.

John Person has been in the trading business for almost thirty years—as a broker, a trader, and a teacher of traders. During this time, he's refined his trading skills and, by using candlestick formations in conjunction with pivot points, developed a reliable methodology that will help you make smarter trades with less risk.

In his first book, A Complete Guide to Technical Trading Tactics, Person introduced traders to the concept of integrating candlestick charting with pivot point analysis. Now, in Candlestick and Pivot Point Trading Triggers, he goes a step further and shows you how to devise your own setups and triggers—in the stock, forex, and futures markets—based on a moving average approach.

Filled with in-depth insights and expert advice, this comprehensive guide:

• Examines the methodology of pivot point analysis and how it can be applied to different markets
• Shows you what to look for when reading candlestick charts and why you should rely on price rather than indicators
• Discusses how to find certain setups and explains what triggers a call to trading action
• Walks you through the various types of stop orders, including when and where to place them
• Illustrates how back testing your methods can help uncover the strengths and weaknesses ofyour system

Person also fully discloses some of his proprietary setups, such as the high close doji, the low close doji, and the jack hammer pattern, complete with rules on the entries and exits to help you identify high probability trades.

With the tools and techniques outlined in this book—which includes a companion CD-ROM that contains Person's own Pivot Point Calculator and an instructional presentation on how to use it—you'll be able to put together a trading plan that consistently helps you yield profits.

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Product Details

• Hardcover: 368 pages
• Publisher: Wiley (November 3, 2006)
• Language: English
• ISBN-10: 0471980226
• ISBN-13: 978-0471980223
• Product Dimensions: 9.1 x 6.2 x 1.3 inches
• Shipping Weight: 1.3 pounds (View shipping rates and policies)
• Average Customer Review: 4.1 out of 5 stars See all reviews (18 customer reviews)
• Amazon.com Sales Rank: #35,035 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

30 of 31 people found the following review helpful:

4.0 out of 5 stars Introduction to trading using simple system., January 18, 2007

By	Jerzy Zakrzewski (Oakville, Ont, Canada) - See all my reviews (REAL NAME)

Before you read this book I would highly recommend reading any other with candlestick being the primary subject. "High Profit Candlestick Patterns" or "Profitable Candlestick Investing" - both by Stephen W. Bigalow or one of Steve Nison books. The more you know about candlesticks patterns and emotions behind them the better trading decisions you might be reaching.
Person's book is one of the very few explaining pivot point - very useful tool indeed. Using high closing and low closing doji with pivot point will not make you a perfect trader, but will allow to avoid disasters being to hasty (or too greedy ) in your decisions. Bottom line of any trading is discipline - and this book is trying to teach this showing how to develop and use very simple system.
CD provides nice overview of everything covered in the book plus pivot calculator. If you need one a bit more sophisticated, you can find it on [...].
Trading is about making money. Keeping things simple will make you a better trader and this book will help you in that.

19 of 20 people found the following review helpful:

3.0 out of 5 stars Well written but didn't help me, November 29, 2007

By	AK (Kentucky) - See all my reviews

I am always looking for for a new angle in my day trading strategies. I do some technical analysis (TC2000) and do my program trading thru Tradestation. I like to run my ideas thru Tradestation to look for useful indicators and signals. I hadn't studied pivot points too much and felt this book would bring me "up to speed" on this subject. I ran many different variations of pivot points and support resistance levels. Although the book is clearly written and the author presents the material well, I didn't extract anything useful out of it.

Perhaps FOREX traders have better luck with pivot points than I did with the stock market. I saw no correlation in the stocks I trade in regards to pivot points, support, resistance, fibonacci levels, etc. After years of computer trading systems, I have concluded that the market is a random event and market psychology just can't be programmed.

[...]

I reread the book very thoroughly and figured out what the author was preaching. As a stock trader, his pivot point analysis and trading techniques are working very well. I was not applying his methods correctly the first time I read the book and now I get it... It is definitely increasing my successful trade probabilities. 5 STARS.. I am going to order his new DVD and see if I can refine the process even more.

19 of 20 people found the following review helpful:

5.0 out of 5 stars A Must Read for Every Trader! , November 29, 2006

By	Todd Langton (Santa Rosa, CA) - See all my reviews (REAL NAME)

John Person's first book, A Complete Guide to Technical Trading Tactics, is a must read for any trader. When I heard his new book, Candlestick and Pivot Point Trading Triggers was published I couldn't wait to get my hands on it. This book exceeded my high expectations! I now have a much better understanding of how to use triggers, set-ups and stops combined with candlesticks, pivots and the moving average approach. I not only have a stronger grasp on candlesticks and pivot points but now I can go way beyond and use Person's proven methods, techniques and formulas in my own trading plan. If you are a trader you need to study and implement the knowledge from this great book.