Tramline Trading : A Practical Guide to Swing Trading with Tramlines, Elliott Waves and Fibonacci Levels
Tramline Trading is a complete practical guide that shows you precisely how to do this. The Tramline Trading Method described here is a simple and complete system which combines Fibonacci levels, basic Elliott Wave Theory and John Burford’s original tramline concepts. It is based on a small number of highly reliable patterns and can be put to use in any market. Every detail of how to put the method into practice is revealed, including how to spot developing patterns for high-probability, low-risk trades, where to place entry orders and stop losses, and the five best setups to look out for.
The book is divided into three parts: In Part I, I develop the tramline trading method in the first chapter with sections on support and resistance and how to find them on any chart. And there is a section on trendlines, which is the basis of my method. Then I describe my favourite chart patterns that help me fix my trades. In the second chapter, I explain how I use my tramline techniques to find high-probability/low-risk trades and how to manage the trades with correct stop-loss placement.
In Part II, I explain how you can apply my method with practical tips and ideas incorporating basic elements from Fibonacci and Elliott Wave Theory. I appreciate many traders find Elliott Wave Theory difficult to understand –identification of the waves and sub-waves can seem arbitrary. That is why I only use the very basic concepts of EW theory in my work. I believe that just a mastery of these basics will pay handsome dividends. This part also contains practical ideas for overcoming problems we typically encounter in real-life trading. One of the most important chapters in the book is Chapter Four, where I outline my five best trading setups.
Finally, in Part III, I relate my day-by-day diary of two trading campaigns where I outline my analysis in real time and give the results; win, lose or draw. I hope this section will be particularly useful in showing how I set up real trades and how I manage them in the heat of the battle. I find that for most traders, trade management is the most difficult discipline to master. It is said that getting into a trade is easy, it is the getting out that is more difficult – that is where my tramline method pays dividends.
- The Tramline Trading Method
- How To Trade The Tramline Method
- My Trading Diary