Secrets of the Undergroundtrader: Advanced Methods for Short-Term and Swing Trading Any Market
$19.84
| Author(s) | , |
|---|---|
| Format |
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| Pages |
392 |
| Published Date |
2004 |
Short-term and swing trading has become the strategy of choice for active, aggressive traders and investors. Secrets of the Undergroundtrader details the advanced methods today’s most successful traders live by, from stochastics and candlesticks to 3-price breaks, volatility signals, and more.
Secrets of the Undergroundtrader presents and explains the advanced methods that today’s most successful traders are using to increase their success in bull, bear, or non-trending markets. Whether revisions to historically successful methods or substantially new approaches, they have been refined, modified, tested daily in the trenches at undergroundtrader.com, and proven their effectiveness. Traders looking to update and jumpstart their trading programs will get the inside story on:
- The “dopplar” foreshadowing effect of 13/60 minute moving average stochastics charts
- Pup (PowerUPtick) and mini pup break patterns that often signal short squeezes of bearish leandowns
- Techniques for properly adjusting time frames for trending, oscillating, and light volume range markets
- Accurate confirmation of crossovers and breaks with a 3 shift moving average
- Techniques savvy traders are using to incorporate e-minis futures and soybean futures into their trading arsenals
Short-term and swing trading are the proven methods of choice for today’s most active, aggressive traders and investors. Yet regardless of the strategy you choose, without the proper tools and training for using those tools you will continue to experience the frustrations and defeats that have, probably more than once, made you seriously consider throwing in the tool and returning to the deceptively risky “buy and hold” strategy. Before you make that mistake, let Secrets of the Undergroundtrader save you hundreds of hours and thousands of dollars by introducing you to short-term trading methods and techniques proven to work in the heat of trading battle, and destined to transform your trading program from a disorderly series of random actions and reactions into a disciplined and market-tested approach that will allow you to regain control of your trading results–by first regaining control of your trading systems and emotions.
Contents:
- Deriving the Tools
- Trend Channels and Breakouts
- Nuances of the Longer Time Frames
- Prime and Fractured Trade Setups
- The Moody Market Day
- The Basket Trading Approach: Building the Foundation
- The Transition to Cash
- Making the Trade
- Playing the Countertrend Reversal
- The Mental Game
- Putting It All Together: A Sample Week of Trades
- The Need for Method
- Requirements of Method
- Building the Fundamental Methods
- Advanced Methods for the Trader’s Toolbox
Secrets of the Undergroundtrader: Advanced Methods for Short-Term and Swing Trading Any Market By Jea Yu, Russell Lockhart pdf
7 reviews for Secrets of the Undergroundtrader: Advanced Methods for Short-Term and Swing Trading Any Market
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Liam Arnold (verified owner) –
My advice is simple – don’t by it. It has a great, intriguing title but nothing else, not for the serious trader, come to think of it, it’s not much use for a beginner one either 🙂
Amayah Berger (verified owner) –
this book is written by 2 persons, and is split into 2 very different sections.
the first section is written by Yu, founder of the undergroundtrader.com. it is 168 pages long.
Yu’s style is straight to the point. he starts by describing why he has needs for certain indicators, then describe its use. doing so one by one, he introduces the entire arsenal of indicators that he uses for ‘successful trading’.
after this, he would show you how to trade using these indicators. very detailed descriptions and very informative. the only fault is the lack of graphics, so that you may need to use more imagination to understand what he has so aptly described. he has also detailed how scalpers or swing traders could make use of his methods. everything is very well written and detailed.
this section ends off with one chapter called “putting it all together: a sample week of trades” which is self explainatory.
the second section is writtenn by dr. lockhart. he lives up to his name by being a doctor (phd, i presume), he spends the first 2-3 chapters (50-100 pages) of his 4 chapters (155 pages) on theories and fundamentals.
generally, these theories are basically the dow theory, basic monetary growth theories, fibonacci, gann, candlestick patterns etc. what he dwells on are nothing new, but he likes to give some of these theories new names, and also name many priciples for his theories. these theories will help in the understanding of the main trading premises, but it is really nothing new for traders/investors well versed in the basic fundamentals of dow theories etc.
in his last chapter, he points out the use of various techniques to the calculate the basics of trading. ETS, entry, target + stop. a method for trading is also discussed, the “three point break” method, this method has been covered by steve nison in advanced candlestick patterns.
this section is not like the first, it is more theories and background for traders. it’s all about learning the basics and fundamentals of trading. i’ll liken it to playing tennis, this section will tell you about the psychology in a game, the wind conditions, the crowd’s effect, the court, positioning, your basic strokes, serves etc. while the first section details how to deal with each kind of shots and return the winner.
I’m not entirely sure they’ve put the correct section at the back of this book. generally, this book is informative and useful for day traders to read up on yu’s portion. he has some ideas that is definitely worth exploring. he has detailed a very good method. lockhart’s portion is too back to fundamentals, it’ll be useful for traders still fresh in the business to catch up on the basics but rather redundant for seasoned traders.
this book may also be applicaple more to the US markets only. i’m not entirely sure it’ll be applicable to the tiny singapore (or such relatively small mkts) market here, i intend to find out!
Demetrius Finley (verified owner) –
This book ought to be required reading to anyone who is or desires to be a day trader. I have read over 70 books since I started trading and this is by far the best. No matter what your experience level or trading style, Jay, Ral, Luke and John are crack teachers. If these guys can’t teach you to trade, you may want to consider a new career. ~
Atticus Sexton (verified owner) –
First of all, this book is for more advanced day traders in my opinion. The author makes references to indicators under the assumption that the reader knows what the writer is talking about. Jea, however, provides some day trading strategies that can prove to be profitable. I gave it three stars because I felt the author had failed to provide adequate details to support his strategies and because the sample charts were too small and almost impossible to read.
Ellen Hendrix (verified owner) –
This fascinating book is well written and informative. It is specific to the day trader but contains hints for other investors. Interesting! Thanks for a stimulating read and a reminder that, as investors, we are responsible for our choices.
Jovie Smith (verified owner) –
Rip off book. Not sure if Jea Yu is still running his daily “trading service”, but this book is just another attempt to take advantage of traders who are “newbies”. I would love to see the authors try and trade profitably using the strategies they themselves describe. I always find it interesting when authors show a few charts where their technique/system works flawlessly, yet fail to offer proof that the techiniques have been tested live (with broker statements) using their own money delivering the same positive results.
Korbyn Xiong (verified owner) –
This book was written during a time when the financial markets had some distinct differences. For one thing, decimalization had yet to occur and fractions meant a stock rarely ever moved less than a 1/8th of a point, or 12.5 cents. Now with decimalization markets move about a penny at a time. When momentum kicks in and a market starts upticking away, instead of moving dollars, it may only move 25 cents. Another problem with this book was that it was written during a time when the market was busting at the seams with new tech companies issuing IPOs all the time, and the tech bubble was forming. Most people were making money during this time no matter what they did, almost like shooting fish in a barrel. If you hit the buy button during this period, you’d probably wind up making money. The methods of the author are very sound, but as the markets have evolved this book has been made almost extinct. There is no more scalping like the kind that is suggested in this book, and the increasing amount of algorithmic trading programs and high frequency trading make scalpers a primary target for failure. This is a good book to understand the evolution of Yu’s methods, but not something to be read and then used in today’s markets. You need to look at his newer books to see the evolution of his system.