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Trend Qualification and Trading: Techniques To Identify the Best Trends to Trade Hardcover – May 3, 2011

4.0 out of 5 stars 33 customer reviews

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Editorial Reviews

From the Author

My first book, Trade Like the Little Guy focused primarily on risk and a methodology that, if followed, would make you a consistently profitable trader independent of how you trade (fundamental or technical trader). Now I offer you my technical trading methodology with all the ideas of trend qualification, the Trading Cube, anchored support and resistance and more.

Having traded for three decades now and having an engineering background, naturally my desire over the years has been to develop a systematic approach to trading the markets. In this book, I lay out that approach in great detail, first looking at how trend was defined in the past and how I have defined it for now and the future. Part II takes that definition and applies it to the trading world showing you how to implement the methodology.

All successful trading systems have trend at their core. Up until now, all trends have been treated equal. No more. I propose a methodology of how to measure the goodness of a trend and to use that to your advantage.

From the Inside Flap

Given its undeniable importance to all traders, and its use in most of today's trading tools and systems, understanding the technical concept known as the "trend" is critical to your success—whether you're trading soybean futures in Chicago or a solar energy company in China.

Significant money can be made by following the right trends, and now, in Trend Qualification and Trading, market technician L.A. Little explains how to identify and qualify these trends to determine the likelihood that they will continue and produce better trading results.

By combining price, volume, time frames, and the relationship between the general market, sectors, and individual stocks, Little shows how to measure the strength of trends. Most importantly, he demonstrates how to determine if a trend has what it takes to develop into a major move with greater profit potential.

Divided into two comprehensive parts, this reliable resource focuses on a redefinition of trend through qualification, explores the implications of trend qualification, and examines the practical applications that flow from it. Page by page, it examines the classical trend model as well as a proposed neoclassical model—which provides the theoretical foundation for both the identification and qualification of trends—and then takes that theory and shows you how it relates to the technical decisions of successfully entering and exiting trades.

With qualified trends, a new age of technical analysis has been ushered into the trading consciousness. These trends are apparent in every stock, commodity, and financial trading instrument and have the potential to lead traders down a more profitable path. With this book as your guide, you'll gain a firm understanding of this innovative idea and discover how to incorporate it into your everyday trading endeavors.

So, throw out all those derivative indicators! With trend qualification, swing points, and anchored support and resistance, you can become aconsistently profitable trader.


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Product Details

  • Hardcover: 298 pages
  • Publisher: Wiley; 1 edition (May 3, 2011)
  • Language: English
  • ISBN-10: 0470889667
  • ISBN-13: 978-0470889664
  • Product Dimensions: 6.3 x 1.1 x 9.3 inches
  • Shipping Weight: 1.2 pounds (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (33 customer reviews)
  • Amazon Best Sellers Rank: #633,423 in Books (See Top 100 in Books)

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Customer Reviews

Top Customer Reviews

Format: Hardcover
Unless markets are absolutely comatose they swing. There are swing points in uptrends, downtrends, and sideways movement. Ideally the short-term trader buys close to the low swing points and sells close to the high swing points. The savvy trend trader ignores the minor swing points; he simply has to identify when he is about to overstay his welcome. All this is patently obvious in hindsight, hellishly difficult at the hard right edge.

In Trend Qualification and Trading: Techniques to Identify the Best Trends to Trade L. A. Little offers what he calls a neoclassical model of trends that relies in large measure on defining and qualifying swing points. The classical model, developed and popularized by Charles Dow and his followers, has of late morphed into what one might call the reductionist classical model: "A trend is evident when two consecutive sets of higher highs and higher lows (uptrend) or lower highs and lower lows (downtrend) occur within any given time frame." (p. 23) This reductionist model, Little argues, doesn't work: for one thing, it triggers premature exits.

In its stead Little offers a neoclassical model of trend. "The neoclassical trend model no longer consists of black and white--up or down and nothing in between. It displays varying shades of trend. It qualifies trend on a more granular level; a level that allows the trader to make intelligent decisions based more on probability than supposed absolutes." (p. 26)

For Little, trends should be qualified as suspect and confirmed. The two inputs necessary to differentiate between a suspect trend and a confirmed trend are swing point price and volume.
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Format: Hardcover Verified Purchase
I work in the industry on the buy-side, helping to build trading systems and I have a good amount of exposure to strategy development. I have read a mass of books on finance, trading, technical analysis and trading algorithm development. Theres some good books out there, some ok books, some dead-awful books and some really great contributions to the field. This book is a great contribution. This book covers a different approach to looking at the markets through what is clearly a well understood view of a complex world. From that deeper understanding, Little has formulated and systematized a way to increase your probabilities of succeeding with your trading. His formulation helps you to discern the style of market you are in, using an interesting technique that is extremely accurate at correctly qualifying the trend. I found I had to read the earlier chapters multiple times, not because the concepts are difficult, but ironically because they are brilliantly simple. The book is not just about qualification of trend, though Little spends a good amount of time explaining all of the different types of markets (bullish, bearish, ranging, but he qualifies them even further to great accuracy) and how to define them using his simple yet profound approach. From there he further explicates the finer aspects of trading with or against the trend, how to extend canonical technical analysis principles such as support and resistance lines into zones, which have even more chances of allowing you succeed with trading.

My view of the trading space has been deepened greatly by this book. I used the techniques to make some successful ETF trades recently, as well as recognizing I had made a bad trade (before I had read this book), which I closed out right before the price tanked.
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Format: Hardcover
Trend Qualification & Trading is a must read for all traders that take technical analysis seriously. Little has taken the core trend theory crafted by Dow and Hamilton and added a crucial element, qualifying it. This method of qualification has helped me better analyze and understand trends, which in turn have made my trades much more profitable.

I first encountered Little's work while visiting Thestreet.com's technical analysis videos. Interested in his work and these new concepts I had never seen written or talked about elsewhere, I set out to learn more and subscribed to his site at Tatoday.com; reading each of his articles daily where he explained these concepts as applied to live trades that were
present at the time.

For me, the book has been a blessing as now I have the opportunity to understand his system completely rather than trying to learn it piecemeal through the daily articles and videos. With this new way of defining trend and with the trade implementation ideas like anchored support and resistance bars and zones I have achieved tremendous trading results. I am mostly a day trader (not something he talks about much in his book although he clearly describes how this works on all time frames including day trades) and these ideas have produced huge results allowing me to grow my portfolio by
approximately 200% in under a year.

These concepts do work and this book is a must read. Little's thorough explanation of his systematic approach has me looking forward to even greater gains in the coming months and years now that I have a more comprehensive resource in my hands.

If you are serious about trading, then read this book. In fact, I'm am in the midst of re-reading it because one read simply isn't enough. This book is a resource - not just a read.
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