THE MISSING CHAPTER
With my previous book, The Universal Principles of Successful Trading (UPST), I took a holistic approach to discussing the process of trading that follows a number of immutable core principles. Principles that are applicable to all traders regardless of the market, instrument and timeframe, technique or analysis they follow. Following a good process of trading is primary to the secondary issues of markets, instruments, timeframes, techniques and analysis.
Being a holistic-type book I spent little time on the most interesting part of trading—the analysis and development of trading strategies. I spent little to no time on dissecting market structure, identifying appropriate setups and applying sensible trading plans. UPST is a more holistic, theoretical type book.
This book is a more practical, how-to guidebook on trend trading.
It is a natural extension and compliment to UPST, where I take the principles I shared regarding methodology and apply them in a practical manner to investigate, review and develop a robust trend-trading methodology. Although I wrote extensively about ‘methodology’ in UPST, I did not provide a practical turn-key strategy example to demonstrate my ideas. This book provides the practical turn-key strategy example to do just that, to demonstrate what I was saying. To give you an example of what I discussed in UPST.
I suppose you could view this book as the missing ‘practical’ chapter of UPST that will provide an example of an objective and independent trading methodology.