{"product_id":"diary-of-a-professional-commodity-trader-isbn-9780470521458","title":"Diary of a Professional Commodity Trader","description":"\u003cp\u003e\u003ci\u003e\u003cb\u003eDiary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading\u003c\/b\u003e\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eTrading is generally far more difficult in practice than in theory. The reality is that no trade set up or individual trader or system can identify profitable trades in advance with complete certainty. In \u003ci\u003eA Year of Trading,\u003c\/i\u003e long-time trader Peter Brandt reveals the anxieties and uncertainties of trading in a diary of his 2009 trades. He explains his thought process as he searches for trading opportunities and executes them. Each trade includes charts, an analysis of the trade, and a play-by-play account of how the trade unfolds.\u003c\/p\u003e \u003cp\u003eAcknowledgments xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Foundations of Successful Trading 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIntroduction 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Invention of a Commodity Trader 3\u003c\/p\u003e \u003cp\u003eWhy I Wrote This Book 7\u003c\/p\u003e \u003cp\u003eThis Book's Audience 9\u003c\/p\u003e \u003cp\u003eThe Book's Road Map 14\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 The History and Theory of Classical Charting Principles 19\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMy Perspective of the Principles 20\u003c\/p\u003e \u003cp\u003eThree Limitations of the Principles 21\u003c\/p\u003e \u003cp\u003eSummary 22\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II Characteristics of a Successful Trading Plan 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Building a Trading Plan 25\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTrader Personality and Temperament 25\u003c\/p\u003e \u003cp\u003eAdequate Capitalization 29\u003c\/p\u003e \u003cp\u003eOverall Risk Management 30\u003c\/p\u003e \u003cp\u003ePoints to Remember 32\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Identifying the Trades and the Trading Vocabulary 33\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTrade Identification 35\u003c\/p\u003e \u003cp\u003eVocabulary of the Factor Trading Plan 35\u003c\/p\u003e \u003cp\u003ePoints to Remember 54\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Ideal Chart Patterns 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReversal H\u0026amp;S Pattern in Copper 56\u003c\/p\u003e \u003cp\u003eReversal Rising Wedge in AUD\/USD 56\u003c\/p\u003e \u003cp\u003eContinuation Wedge and Reversal Failure Top in Soybean Oil 57\u003c\/p\u003e \u003cp\u003eReversal Triangle Bottom in Sugar 58\u003c\/p\u003e \u003cp\u003eContinuation and Pyramid Patterns in USD\/CAD 58\u003c\/p\u003e \u003cp\u003eReversal Top in Silver 59\u003c\/p\u003e \u003cp\u003eContinuation H\u0026amp;S Pattern in the Russell 1000 Index 60\u003c\/p\u003e \u003cp\u003eContinuation Rectangle in Kansas City Wheat 61\u003c\/p\u003e \u003cp\u003eContinuation Rectangle and Pyramid Triangle in Crude Oil 61\u003c\/p\u003e \u003cp\u003eContinuation H\u0026amp;S Top in the Dow Utilities 63\u003c\/p\u003e \u003cp\u003eContinuation Triangle, Reversal M Top, and Flag in the EUR\/USD 63\u003c\/p\u003e \u003cp\u003eH\u0026amp;S Reversal Top and Three Continuation Patterns in the GBP\/JPY 65\u003c\/p\u003e \u003cp\u003eA Reversal Symmetrical Triangle in the AUD\/JPY 66\u003c\/p\u003e \u003cp\u003eTwo Continuation Patterns in GBP\/CHF 67\u003c\/p\u003e \u003cp\u003eA Triangle and Running Wedge in Sugar 67\u003c\/p\u003e \u003cp\u003eAn H\u0026amp;S Bottom in Apple Computer 68\u003c\/p\u003e \u003cp\u003eA Major Continuation H\u0026amp;S and Symmetrical Triangle in Gold 68\u003c\/p\u003e \u003cp\u003eA Series of Bullish Patterns in Copper 70\u003c\/p\u003e \u003cp\u003eA Failed Ascending Triangle in the USD\/CAD Crossrate 71\u003c\/p\u003e \u003cp\u003eA 12-Week Rectangle in the Dow Jones Transport Index 72\u003c\/p\u003e \u003cp\u003eA Rare Horn in Brent Sea Oil 72\u003c\/p\u003e \u003cp\u003eAn H\u0026amp;S Bottom Launches the 2009 Bull Market in the S\u0026amp;Ps 73\u003c\/p\u003e \u003cp\u003eSummary 74\u003c\/p\u003e \u003cp\u003ePoints to Remember 74\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 How the Factor Trading Plan Works 75\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTrade Identification 75\u003c\/p\u003e \u003cp\u003eTrade Entry 84\u003c\/p\u003e \u003cp\u003eTrade Risk Management 85\u003c\/p\u003e \u003cp\u003eTrade Order Management 86\u003c\/p\u003e \u003cp\u003ePoints to Remember 89\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Three Case Studies Using the Factor Trading Plan 91\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Remarkable Technical Event in the Dow Jones 92\u003c\/p\u003e \u003cp\u003eA Year Trading Gold 94\u003c\/p\u003e \u003cp\u003eA Year Trading Sugar 104\u003c\/p\u003e \u003cp\u003ePoints to Remember 113\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Characteristics of a Successful Trader 115\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntimate Knowledge of Trading Signals 116\u003c\/p\u003e \u003cp\u003eDiscipline and Patience 117\u003c\/p\u003e \u003cp\u003eAnalysis of Self and of the Trading Plan 117\u003c\/p\u003e \u003cp\u003eIt Takes a Leap of Faith 120\u003c\/p\u003e \u003cp\u003ePoints to Remember 121\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III A Five-Month Trading Diary: Let The Journey Begin 123\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Month One: December 2009 127\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTrading Record 129\u003c\/p\u003e \u003cp\u003eSummary 143\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Month Two: January 2010 145\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIdentifying Trading Opportunities 146\u003c\/p\u003e \u003cp\u003eAmending the Plan 151\u003c\/p\u003e \u003cp\u003eTrading Record 152\u003c\/p\u003e \u003cp\u003eSummary 170\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Month Three: February 2010 171\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSticking to the Plan in Choppy Markets 171\u003c\/p\u003e \u003cp\u003eTrading Record 173\u003c\/p\u003e \u003cp\u003eSummary 187\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Month Four: March 2010 189\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTrading Record 190\u003c\/p\u003e \u003cp\u003eSummary 201\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Month Five: April 2010 203\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRelying on Classical Charting Principles 204\u003c\/p\u003e \u003cp\u003eTrading Record 205\u003c\/p\u003e \u003cp\u003eOutlook for the Future 210\u003c\/p\u003e \u003cp\u003eSummary 214\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV The Wrap-Up 215\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Analysis of Trading Performance 217\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow the Trading Plan Performed 221\u003c\/p\u003e \u003cp\u003eHow the Plan (and the Trader) Evolved 227\u003c\/p\u003e \u003cp\u003eSummary: Best Practices Going Forward 228\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 The Best Dressed List 231 \u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Seven-Month Double Bottom in AUD\/USD 231\u003c\/p\u003e \u003cp\u003eA 14-Month Coil and Nine-Month Descending Triangle in EUR\/CHF 233\u003c\/p\u003e \u003cp\u003eA Six-Month Wedge in EUR\/USD 234\u003c\/p\u003e \u003cp\u003eA 16-Week Horn in GBP\/USD 235\u003c\/p\u003e \u003cp\u003eA Four-Month H\u0026amp;S in Bottom NZD\/USD 236\u003c\/p\u003e \u003cp\u003eA Six-Month Ascending Triangle Failure in USD\/CAD 237\u003c\/p\u003e \u003cp\u003eAn Eight-Month H\u0026amp;S Bottom in the S\u0026amp;Ps 238\u003c\/p\u003e \u003cp\u003eA 14-Month Symmetrical Triangle in Sugar 239\u003c\/p\u003e \u003cp\u003eA Seven-Month Triangle in Gold 240\u003c\/p\u003e \u003cp\u003eA Series of Continuation Patterns in Copper 242\u003c\/p\u003e \u003cp\u003eAn H\u0026amp;S Bottom in Crude Oil 243\u003c\/p\u003e \u003cp\u003eSummary 243\u003c\/p\u003e \u003cp\u003ePostscript 245\u003c\/p\u003e \u003cp\u003eAppendix A Factor Trading Plan Signals 249\u003c\/p\u003e \u003cp\u003eAppendix B Quick Reference to Charts 257\u003c\/p\u003e \u003cp\u003eAppendix C Recommended Resources 269\u003c\/p\u003e \u003cp\u003eAuthor's Note 271\u003c\/p\u003e \u003cp\u003eIndex 275\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePETER L. BRANDT\u003c\/b\u003e has been a full time professional commodity and foreign exchange trader for over thirty years. He has worked as a broker to large industrial clients, traded for his own account, and was one of the early pioneers in the commodity hedge fund arena. Along the way, Brandt published a highly regarded newsletter called \u003ci\u003eThe Factor\u003c\/i\u003e, and also collaborated with Bruce Babcock Jr. to publish the highly acclaimed book, \u003ci\u003eTrading Commodity Futures with Classical Chart Patterns\u003c\/i\u003e. Primarily devoted to trading proprietary capital in commodity and forex markets, Brandt has achieved a lofty average annual rate of return of 68 percent during his career.\u003cbr\u003eThe author can be reached at \u003cb\u003eplb.factor@gmail.com\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBecoming a consistently successful trader is a tough job. It's a craft that requires extensive knowledge of the markets—involving a whole lot more than just finding the next great trading opportunity—and a process that addresses many aspects of both the market's, and your own, behavior.\u003c\/p\u003e \u003cp\u003eNobody understands this better than author and longtime trader Peter Brandt. During his thirty-plus years in this field, he has made every mistake possible and learned some major lessons along the way. He also developed a set of guidelines, rules, and practices—which he refers to as the Factor Trading Plan—that direct his trading decisions.\u003c\/p\u003e \u003cp\u003eNow, in \u003ci\u003eDiary of a Professional Commodity Trader\u003c\/i\u003e, Brandt shares the experiences he has gained trading price charts over the years, and through a real-time journal—which spans an arbitrary time frame of 21 weeks (from December 2009 to April 2010)—skillfully shows how he goes about the difficult endeavor of trading the commodity and forex markets using classical charting principles.\u003c\/p\u003e \u003cp\u003eDivided into four comprehensive parts, this personal and unique guide clearly reveals the uncertainty and emotions that surround trading and details an effective approach towards speculation that will give you an edge. Page by page, it:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eOffers a real-time, play-by-play account of Brandt's trading activities—the good, the bad, and the ugly—during his 21-week journey, and provides valuable insights into market analysis, trade identification and selection, and risk management\u003c\/li\u003e \u003cli\u003eHighlights the basic building blocks of the author's Factor Trading Plan and examines how his plan continues to evolve with the markets\u003c\/li\u003e \u003cli\u003eEmphasizes the central role risk management plays in market speculation—an even more important role than market analysis or trade selection\u003c\/li\u003e \u003cli\u003eReveals trading as a fundamental battle to overcome your basic human emotions\u003c\/li\u003e \u003cli\u003eAnd much more\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eUnlike most books on this subject, which try to tell you how to trade, \u003ci\u003eDiary of a Professional Commodity Trader\u003c\/i\u003e offers a rare look at the realities of this discipline and provides you with a firm understanding of what it really takes to improve your performance over the long term.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989058863333,"sku":"NP9780470521458","price":42.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470521458.jpg?v=1761782621","url":"https:\/\/k12savings.com\/es\/products\/diary-of-a-professional-commodity-trader-isbn-9780470521458","provider":"K12savings","version":"1.0","type":"link"}