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Trend Qualification and Trading: Techniques To Identify the Best Trends to Trade Hardcover – May 3, 2011
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From the Author
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
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.
Top Customer Reviews
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.Read more ›
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.Read more ›
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.
Most Recent Customer Reviews
This book is a gift from LA Little to any trader that would like to have a better understanding of the markets and how they work. Read morePublished 11 months ago by Gregory C.
I just finished reading L.A. Little's book and must say that it is one of the best books I've read on technical analysis. Read morePublished 11 months ago by smhjn
LA's methodologies have been particularly helpful in the uncertain areas of my trading. I have applied them directly or retained the principles he shows to give me more confidence... Read morePublished 11 months ago by Brian Gibbs
LA Little has created his own unique style of swing trading. The style is very concise in its analysis and gives clear trade signals. Read morePublished 23 months ago by Andrew J. Naughtin
I've been trading for almost 25 years -- fundamental analysis as well as technical analysis -- and I've read more books than I can remember. Read morePublished on December 9, 2013 by Matt M.
A very well written, exhaustively detailed book with accurately notated chart patterns. If you've ever wondered why you get wiped out every time you make a typical trend following... Read morePublished on November 5, 2013 by Donald Pendergast
I have read a lot of books on technical analysis some good and some not. L.A. Little offers a comprehensive, well written, and easy to digest way of looking at price volume action... Read morePublished on June 27, 2013 by D. Spayth