The Ultimate Trading Guide

In The Ultimate Trading Guide, Hill, Pruitt, and Hill clearly explain the principles behind trading systems. They demonstrate how various types of systems operate for accounts of all sizes--from $10,000 to $1 million. And they provide the tools and background necessary for developing computerized trading systems that really work

JOHN R. HILL is the President and founder of Futures Truth, a leading newsletter that analyzes and rates trading systems. He has been a frequent guest on CNBC and is a popular speaker at numerous investment conferences. Mr. Hill holds a masters degree in chemical engineering from Ohio State University.<BR>

Preface

xi

Acknowledgments

xv

Introduction: The Search for Truth

1

(7)

The Set-Ups or the Big Picture

8

(20)

Trading versus Investing

8

(1)

The Ultimate Timing Tool for All Markets

9

(1)

Technology Revolution

9

(1)

Stages of Market Action

10

(9)

How to Make Money with This Theory

19

(3)

Case Study of Trading Rules

22

(3)

To Trade or Not to Trade

25

(1)

Conclusion

26

(1)

Note

27

(1)

Practical Applications of the Elliott Wave Theory

28

(9)

Targets for Major Movements

30

(1)

Corrective Waves or Phases

31

(2)

Case Study in Crude Oil

33

(1)

How to Trade A or ABC Corrections to a Thrust

34

(1)

Trading Plan

35

(1)

Other Works on Cycles

36

(1)

Summary

36

(1)

Bar Charts and Their Forecasting Ability

37

(39)

How to Use Short-Term Patterns for Profit

39

(4)

Entry Techniques

43

(1)

System Development Based on Closing Prices

43

(12)

Three-Day Equilibrium Reverse

55

(4)

Pattern Gap

59

(1)

Hook Closing

60

(4)

Narrow Range Bars

64

(4)

Trading the Narrow Ranges

68

(1)

Trading the Wide Range Bar

68

(1)

Buy Zones

69

(1)

Stop Point

70

(1)

Taking Profits

71

(1)

Anticipation

71

(1)

Time Breakout Rule

72

(1)

Gap Higher/Low Openings

73

(3)

Channel and Trendline Trading

76

(7)

Trend Lines and Parallel Movements

76

(2)

Trading the 0--2 Line

78

(2)

Trendline and Four-Close System (TL4C)

80

(1)

Trend Channel System

81

(2)

Swing Trading

83

(18)

Swing Charts

83

(3)

Anticipation

86

(1)

Move Ending

87

(1)

Pullback Buys

87

(1)

Action and Reactions

88

(1)

Preliminary Demand

88

(1)

Time and Space

89

(1)

Sell Tops after a Trend Change

89

(1)

Three Bar Rallies

90

(1)

Holding Gain and Rally from Support

91

(1)

Setups for Trend Change

92

(2)

Trend Continuation

94

(1)

Three Drives to a Bottom

95

(1)

Support/Resistance Zones

95

(2)

Time and Price Projections

97

(2)

Trend

99

(1)

First Day in Rally

100

(1)

Patterns

101

(38)

Opening Range Breakouts

102

(2)

Trend Up Confirmed

104

(1)

Spring Reversal Pattern

105

(1)

Upthrust Reversal Pattern

106

(2)

Yum-Yum Continuation Pattern

108

(1)

L Formation and Reverse L

109

(1)

Double Tops and Bottoms

110

(1)

Small Morning Tails

111

(3)

Clear Out Patterns

114

(1)

Overlapping and Non-Overlapping Bars

114

(2)

Two-Day Intersection

116

(1)

Channel Trading Systems

116

(5)

The Pullback

121

(2)

High of Low Bar for Buying/Low of High Bar for Selling

123

(1)

Three Bars Up/Down

124

(1)

Dynamite Triangle

125

(1)

Narrow Range/Wide Range

126

(1)

Two-Day Flip (2DF)

127

(1)

Tight Formation Breakout

128

(1)

The Importants of Exits

128

(6)

Use of Tools in Trading the S&Ps

134

(5)

Drummond Geometry and the PLdot: An Introduction to the Fundamentals

139

(14)

What is Drummond Geometry?

139

(13)

Conclusion

152

(1)

Introduction to Mechanical Trading Systems

153

(11)

Why Use a Trading System?

155

(2)

Throw Those Ads Away

157

(2)

Should I Buy a Trading System?

159

(1)

Myths and Facts Concerning Trading Systems

160

(3)

Conclusion

163

(1)

Where to Start

164

(44)

Hardware

164

(1)

Software

164

(2)

Data

166

(5)

Indicators

171

(14)

Five Approaches Used by the Best Trading Systems

185

(1)

Anatomy of a Trading System

185

(21)

Conclusion

206

(2)

Historical Testing---A Blessing or a Curse

208

(20)

Simulated Analysis

208

(1)

Curve Fitting

209

(5)

Periodic Reoptimization---Does It Work?

214

(2)

Alternative to Optimization---Adaptive Parameters

216

(3)

You Design the Trading System, Not Your Computer

219

(1)

How to Evaluate Trading System Performance

220

(4)

How to Evaluate Trading System Portfolio Performance

224

(2)

Conclusion

226

(2)

Money Management

228

(24)

Statistics---A Necessary Tool

229

(1)

Risk of Ruin

230

(1)

Capital Allocation Model

231

(9)

Compounding Returns

240

(1)

Placement of Protective Stops and Profits Targets

241

(10)

Conclusion

251

(1)

Turnkey Systems and Portfolios

252

(6)

Portfolio 1 $10,000 Initial Capital

252

(1)

Portfolio 2 $25,000 Initial Capital

253

(1)

Portfolio 3 $50,000 Initial Capital

254

(1)

Portfolio 4 $100,000 Initial Capital

255

(1)

Portfolio 5 $300,000 Initial Capital

256

(1)

Conclusion

257

(1)

Top Ten Systems of All Time

258

(25)

Bibliography

283

(2)

Appendix: Easy Language Source Code

285

(8)

Index

293

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The Ultimate Trading Guide

Summary

Author Biography

Table of Contents

Supplemental Materials