Trade Chart Patterns Like the Pros
$24.48
Trade Chart Patterns Like the Pros is basically an encyclopedia of everything technical analysis. The book has more than 60 different unique and common patterns explained in detail; the greater majority with a focus on day trading.
Introduction:
Don’t read this book – MAKE MONEY WITH IT! There are hundreds of Technical Analysis books and only a handful will ever help you make enough successful trades to recover the purchase price. Trade Chart Patterns Like The Pros by Suri Duddella is one of those rare opportunities to build a base of knowledge that can take you further each time you trade.
Like the Chinese proverb that says, “Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.” Suri has laid out an indispensable tome on trading chart patterns based upon his real-life experiences in a format that will work well for the spectrum of investors – from novice to expert. Unlike the ‘encyclopedias’ you can find on this unbelievably deep and complex subject, Trade Chart Patterns Like The Pros stays focused and does not overwhelm you with mathematical statistics and technical jargon that will surely turn you off.
Instead, Suri’s ‘trader-sense’ perspective helps you identify a pattern and apply the relevant techniques to enter, manage and exit the trade. Each of his 65 patterns includes a brief synopsis written in plain English and an actual chart to reinforce the concept, not a conveniently drawn perfect example that never occurs in real life.
Trade Chart Patterns Like the Pros provides a universal resource for 65 of the most common scenarios that you will run into regardless of your investing time frame (intraday to weeks at a time) and your preferred financial instrument. It’s not enough to recognize a pattern; you need to understand the key elements of the trade and how to make it work for ‘long’ and ‘short’ positions. Suri explains the setup and then provides the entry point triggers as well as an exit strategy with targets for profitable trades and stops to minimize any losses.
Contents:
- CHART TYPES
- BAR GROUPS
- PIVOTS
- FIBONACCI
- HARMONIC PATTERNS
- GEOMETRIC PATTERNS
- CHANNELS
- BANDS
- ZIGZAG
- PRICE-ACTION
- TOPS AND BOTTOMS
- EXOTIC PATTERNS
- EVENT PATTERNS
Trade Chart Patterns Like the Pros: Specific Trading Techniques By Suri Duddella pdf
| Author(s) | |
|---|---|
| Pages | 293 |
| Format | |
| Publication Year | 2007 |
14 reviews for Trade Chart Patterns Like the Pros
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Roy Tate (verified owner) –
I really didn’t want to write this review and I really don’t want you to buy it. But what I say doesn’t really matter since you’ve heard such comments before 🙂 But this guy really deserves to sell a ton of this book. This is not just any trading book. Its is the greatest trading book EVER written. Throw away everything else in your bookself. This is all you need. Why? Because all the other books spend 300 pages talked about stuff you don’t care about. You go through all those books just to find 5 pages on the important stuff. The actual trades and example. This book is the opposite. 5 pages you don’t care about, and 300 pages of what you want to hear. Ok, now you want to learn to trade follow these steps: 1)Buy a good computer with a large screen, 2) Open an account with a broker that has simulation abilities, 3) Get a good charting software and real time data(some companies like Tradestation offer brokerage and good charting platform), 3) Spend alot of hours watching the screen and entering simulation trades, 4) Document those trades. Check out Elitetrade.com and start a journal. 5) Start reading and re-reading and re-reading this book. Pick the setups you like best (2-3 are enough – you don’t need all 300), 6) Sim, sim, sim
Damon Lester (verified owner) –
This book is full of actual trade set-ups that work fairly well. It also has targets and stops.
You don’t need to use every pattern, just find 2 to 5 that the you notice replicate more often in your time frame. You can look back in history to see how well they worked before attempted real money trades.
Just add money management* and you have a fairly good start.
* Don’t bet the farm on any one trade.
Griffin Shepherd (verified owner) –
This is an excellent book as a REFERENCE for various patterns and their target objectives. Weaknesses are that trade entries are often ambiguous and not always the best. For example, breakouts are FAR more effective if taken on the first pullback… the author barely even mentions pullbacks, which are a staple for successful trading. Also, the drawings need more marks as to EXACTLY where to enter. It scantily mentions candlesticks and doesn’t integrate them into the entries, which is a huge mistake, as they are so vital. Steve Nison teaches candlesticks, but he (Nison) does NOT teach these patterns. The two need to be married. Maybe I’ll write that book someday. Or not. Also, nowhere could I find any treatment whatsoever on diagonal channel breakouts. Why not? It seems the author certainly tried his best to put together a good reference book on general patterns, but NOT a comprehensive manual for trading. To actually trade, one needs to know candlesticks and several other things. With just a bit more work and thought, this could have been a seminal publication.
Katalina Eaton (verified owner) –
Very well written. Great information. Suri is a very smart person.
Kinslee Boyer (verified owner) –
If the book was less expensive I’d be more forgiving but for the price this book has nothing that’s not available online for free and the author doesn’t add anything new.
Skye Golden (verified owner) –
some nice ideas but nothing really new
Julius Rojas (verified owner) –
If you are a day trader, this book is a must. The graph photos are big and understandable. The book get straight to the point. No history etc etc.
Kaylie Rivas (verified owner) –
Nice compilation BUT entries, entries, entries… What you do after you take a trade is as, or even more important than your entry point. No setups for exits, just some stops.
The complicated patterns, with fibonacci ratios and strange names, honestly I don’t even pay attention to. Be sure that you are able to TEST what many books sell you.
I am not sure what is more subjective if the “patterns” or “support and resistance.” You’ll end up seeing patterns everywhere. That is a no no for me.
But hey, you might be making money with this. Definitely not my “trading style”.
Amias Dominguez (verified owner) –
The book is better than I even expected even after reading all the good reviews. Give you the information in a format you can work with. By far the most valuable trading book I have read hands down.
Quinn Henson (verified owner) –
This book complements well Miner’s, Kane’s, Carney’s books and many others. Why may you not treat it as a main book? It is too short and it gives rather very specific details than general view on how to trade properly. This view is given in the books mentioned above. This book is very concise and practical, but it doesn’t give information about how to react in the area where the trend changes or how to manage the trade. Summerizing, “Trading like a Pro” is the very good book, “must read” for every one who wants to have considerable gains, but must be read together with other books.
Averi Lowe (verified owner) –
Good overview with decent breakdown and visuals. note- The book is in black and white. The book included several patterns not encompassed in other books as a group. These include the nr7 and the Gartley’s. imo- Each trader must find and make his own set ups as his niche if one is to survive the onslaught against the pros and HFT. This book shows a very diverse amount of trading patterns and methods with a brief section including history, synopsis, the trade, targets and stops. It then gives an example with a short summary of it done on an actual chart. My only concerns is not with the book itself, but these type of books premise. More is not always better. Another note is many of these patterns are easy to find and identify after the fact, to do so in real time takes lots of screen time(live or sim). Thus my supposition that each trader must find then develop his own niche. The drawback that I see with a book like this and the huge amount of information out there is the diverse and many choices to make, causing the novice, intermediate and even advanced trader the option of dabbling. Imo trading is best done from a niche perspective, with the ability to filter out the rest. An addition to this book that would be benefical on many traders desk is a price action diagram with various patterns. Many patterns unfold the same or similarly. By identifying and relating to the current chart with a template one may be able to quickly identify which potential price action and pattern that may be unfolding in the short term, mid term and long term which is all relative to each trader. For myself, scalp(minutes) to spot(sessions) to swing(multisessions). This is a good buy to be able to quickly look at various patterns to potentially recognize what other traders are seeing to be able to identify the various bull and bear lines. One must do the work themselves to make it their own. My personal arsenal from the book are triangles, pivots, rectangles, AB=CD, 3valleys = river. Many notable patterns that I use to recognize but not trade are H&S, 2B, nr7, double tops/bottoms, gaps. Money well spent for it’s purpose, a consolidated version of patterns. Highlighting sections may be a good idea. There is plenty of space in the book itself to write one’s own notes. Tabbing key or favored pages is also another suggestion. Choose a pattern then make it your own by identyfying and trading it many times over.
Adaline Gross (verified owner) –
His book is an excellent guide to learn patterns. There are real trade examples for each pattern, which is very rare to find. Writing is very clear and concise. There are 60+ trading patterns in this book and you can choose whatever fits your trading style. Unlike other authors on the subject Suri Dudella has 20+ years of trading experience. He trades some of these patterns everyday and even posts them on his free website. That is another way to continue your learning beyond this book. This book is a must have in every trader’s library.
Raegan Greene (verified owner) –
This book is a gem. I have purchased it after I noticed that it was recommended on Tradestation’s forums. The book is written by an active trader so the author knows what you want and does not waste time. He gives one setup after the other. He first explains the pattern, gives credit to whomever discovered it, shows you clearly where the entry points are, where the stoploss level is and finally where the profit targets are. He spends about 2 pages per pattern and that’s including the charts. So he gets right to the point quick! The patterns are numerous and many of them are exotic and not known. I learnt a lot from this book and I am an active trader whose read over 60 books. Additionally, I want to say that if you are a algorithmic trader this book has many patterns that are programmable and can be deployed on intraday data and even on daily charts. So if you want a book that will help you become more profitable and if you want a book that is written by someone who trades for a living as appose to someone who writes for a living then buy this book.
Leighton Lugo (verified owner) –
I have learned so much information for trading different types of chart patterns reading this book. It is a must have for all traders.