High Probability Trading Strategies

ROBERT C. MINER has been a leading trading educator for more than twenty years and publishes daily reports on the Forex, stock, and futures markets. He speaks around the world on trading and has written for a wide variety of trading publications. Miner has been named "Guru of the Year" and is a first-place winner of a major brokerage company's annual real-time trading contest.

"... teaches in a practical step-by-step manner... skillfully outlines every aspect of a practical trading plan." (Traders, November 2010)

• Foreword ixPreface xiPART ONE High Probability Trading Strategies for Any Market and Any Time Frame 1CHAPTER 1 High Probability Trade Strategies for Any Market and Any Time Frame 3Any Market, Any Time Frame 4Conditions with a High Probability Outcome 4Leading and Lagging Indicators 5What You Will Learn in This Book and CD 6Let’s Get Started 8CHAPTER 2 Multiple Time Frame Momentum Strategy 9What Is Momentum? 11Multiple Time Frame Momentum Strategies 12The Basic Dual Time Frame Momentum Strategy 12Momentum Reversals 14Most Price Indicators Represent Rate-of-Change 15Momentum and Price Trends Often Diverge 16How Dual Time Frame Momentum Strategies Work 19Which Indicators to Use for Multiple Time Frame Momentum Strategies 31What Are the Best Indicator Settings to Use? 36Dual Time Frame Momentum Strategy Rules 43Dual Time Frame Momentum Strategy Trade Filter 46CHAPTER 3 Practical Pattern Recognition for Trends and Corrections 49Why Is It Important to Identify a Trend or Correction? 50Simple Pattern Recognition Based On Elliott Wave 52Trend or Correction: The Overlap Guideline 52ABC and Away We Go 58Complex Corrections 64Overlap Is the Key to Identify a Correction 66Trends and Five-Wave Patterns 67Greater in Time and Price 75Fifth Waves Are the Key 77Momentum and Pattern Position 79Momentum and Pattern Not Enough 82CHAPTER 4 Beyond Fib Retracements 83Internal Retracements and Corrections 84Alternate Price Projections Qualify Internal Retracements 89More Alternate Price Projections 92External Retracements Help Identify the Final Section of a Trend or Correction 96Pattern Price Targets 99Price, Pattern, and Momentum 106No Excuse 108CHAPTER 5 Beyond Traditional Cycles 111Time Retracements and Corrections 112Alternate Time Projections Narrow the Time Retracement Range 114More Time Factors 117The Time Target Zone 118Time Bands 128More Time Factors 135Conclusion 137CHAPTER 6 Entry Strategies and Position Size 139Entry Strategy 1: Trailing One-Bar Entry and Stop 140Entry Strategy 2: Swing Entry and Stop 150Position Size 158Conclusion 162CHAPTER 7 Exit Strategies and Trade Management 163Multiple-Unit Trading 164Risk/Reward Ratios 165Exit Strategies 166Trade Management 168Trade Only the High Probability, Optimum Setups 197PART TWO Trading the Plan 199CHAPTER 8 Real Traders, Real Time 201Adam Sowinski (Slorzewo, Poland) 202Jagir Singh (London, United Kingdom) 206Cees Van Hasselt (Breda, The Netherlands) 214Kerry Szymanski (Tucson, Arizona) 218Derrik Hobbs (Warsaw, Indiana) 222Carolyn Boroden (Scottsdale, Arizona) 227Jaime Johnson (Encinitas, California, and Bogata, Columbia) 231Chapter Summary 234CHAPTER 9 The Business of Trading and Other Matters 237Routines and Trading Records 237Why Traders Win or Lose 239Technology, Trading Time Frames, Markets to Trade, and Leverage 242Trade for Points, Not for Ticks 244You Can’t Buy Success 244You CAN Be a Successful Trader 245More Bar-by-Bar Entry to Exit Trade Examples 247Glossary 249Bibliography 261About the Author 263Index 265