{"product_id":"the-universal-tactics-of-successful-trend-trading-isbn-9781119734512","title":"The Universal Tactics of Successful Trend Trading","description":"\u003cp\u003e\u003cb\u003eGet a flying \u003c\/b\u003e\u003cb\u003eheadstart on trend trading with this comprehensive how-to guide\u003c\/b\u003e \u003c\/p\u003e \u003cp\u003e\u003ci\u003eThe Universal Tactics of Successful Trend Trading: Finding Opportunity in Uncertainty\u003c\/i\u003e delivers powerful and practical advice for the serious trend trader. Using the principles identified in \u003ci\u003eThe Universal Principles of Successful Trading\u003c\/i\u003e, author Brent Penfold shows curious investors how to become a long-term winner with tried-and-true trend trading methodologies.  \u003c\/p\u003e \u003cp\u003eThe book includes in-depth and comprehensive treatments of topics like: \u003c\/p\u003e \u003cp\u003e·         Why trend trading is so appealing \u003c\/p\u003e \u003cp\u003e·         Popular and effective trend trading strategies \u003c\/p\u003e \u003cp\u003e·         How to measure risk \u003c\/p\u003e \u003cp\u003e·         Common trend trading mistakes and how to avoid them \u003c\/p\u003e \u003cp\u003eInvestors and readers will also discover the importance of risk, and how to judge outcomes and strategies on a risk-adjusted basis. \u003c\/p\u003e \u003cp\u003ePerfect for anyone interested in trading successfully, \u003ci\u003eThe Universal Tactics of Successful Trend Trading\u003c\/i\u003e is a key strategy guide that belongs on the shelf of anyone involved in the buying and selling of financial securities. \u003c\/p\u003e \u003cp\u003eAcknowledgements xiii\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003eIntroduction xix\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 The Paradox 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNirvana and Despair 1\u003c\/p\u003e \u003cp\u003eIt’s Also a Confusing Time 2\u003c\/p\u003e \u003cp\u003eHow I Can Help You 3\u003c\/p\u003e \u003cp\u003eHow to Trade Successfully 4\u003c\/p\u003e \u003cp\u003eSummary 4\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Key Messages 5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKnowledge 6\u003c\/p\u003e \u003cp\u003eRisk 24\u003c\/p\u003e \u003cp\u003eApplication 36\u003c\/p\u003e \u003cp\u003eExecution 54\u003c\/p\u003e \u003cp\u003eSummary 63\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 The Appeal of Trend Trading 64\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIt’s a Punch and Judy Show 64\u003c\/p\u003e \u003cp\u003eWhat is Trend Trading? 65\u003c\/p\u003e \u003cp\u003eWhy are Trends so Important? 67\u003c\/p\u003e \u003cp\u003eThe Appeal of Trend Trading 67\u003c\/p\u003e \u003cp\u003eSummary 119\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Why Do Trends Exist? 120\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eConfusion Reigns 120\u003c\/p\u003e \u003cp\u003eBehavioural Finance 120\u003c\/p\u003e \u003cp\u003ePath Dependency 125\u003c\/p\u003e \u003cp\u003eAnd the Winner is? 126\u003c\/p\u003e \u003cp\u003eSummary 126\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Why Do So Many Fail? 127\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eScience Says We Can’t Lose 127\u003c\/p\u003e \u003cp\u003eOverview of Trend Trading 127\u003c\/p\u003e \u003cp\u003eWhydosoManyFailatit? 130\u003c\/p\u003e \u003cp\u003eVariability Kills Indicators 137\u003c\/p\u003e \u003cp\u003ePopular Indicators 137\u003c\/p\u003e \u003cp\u003eRsi 139\u003c\/p\u003e \u003cp\u003eStrategy Robust Review 139\u003c\/p\u003e \u003cp\u003eRtt 140\u003c\/p\u003e \u003cp\u003eTraders Always Change Variable Values 156\u003c\/p\u003e \u003cp\u003eUniverse of Alternative Equity Curves, Expectancies and ROR 156\u003c\/p\u003e \u003cp\u003eBest Set of Variable Values Always Change 158\u003c\/p\u003e \u003cp\u003eKnow Your Strategy’s Universe of Alternative Equity Curve’s Upper and Lower Bands 160\u003c\/p\u003e \u003cp\u003eStratgey Robustness Review 161\u003c\/p\u003e \u003cp\u003eThe More Variables, the More Alternatives, the More Risk 161\u003c\/p\u003e \u003cp\u003eVariable and Subjective Tools 163\u003c\/p\u003e \u003cp\u003eIndependent Objective Tools 164\u003c\/p\u003e \u003cp\u003eSo, What to Do? 165\u003c\/p\u003e \u003cp\u003eSummary 165\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Strategies 167\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMarkets 168\u003c\/p\u003e \u003cp\u003eTrading Naked without Technical Analysis 169\u003c\/p\u003e \u003cp\u003eTrend-Trading Strategies 177\u003c\/p\u003e \u003cp\u003eMomentum Trend Trading 177\u003c\/p\u003e \u003cp\u003eRelative Strength Trend Trading 178\u003c\/p\u003e \u003cp\u003eHypothetical Results 180\u003c\/p\u003e \u003cp\u003eRelative Momentum Trend Trading 180\u003c\/p\u003e \u003cp\u003eAbsolute Momentum Trend Trading 195\u003c\/p\u003e \u003cp\u003eRetracement Trend Trading 223\u003c\/p\u003e \u003cp\u003eReturn of Random Trend Trader (2020) 230\u003c\/p\u003e \u003cp\u003eSummary 232\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Measuring Risk 234\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow to Measure Strategy Performance 234\u003c\/p\u003e \u003cp\u003eRisk-Adjusted Return Measurements 235\u003c\/p\u003e \u003cp\u003eStandard Deviation—Proxy for Risk 238\u003c\/p\u003e \u003cp\u003eThe Ulcer Index—a Superior Risk Proxy 245\u003c\/p\u003e \u003cp\u003eThe Ulcer Performance Index—a Superior Risk-Adjusted Return Measurement 246\u003c\/p\u003e \u003cp\u003eNot all Strategies are Created Equal 257\u003c\/p\u003e \u003cp\u003eSummary 259\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Moving Forward 260\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Toolkit 260\u003c\/p\u003e \u003cp\u003ePortfolio Construction 261\u003c\/p\u003e \u003cp\u003eData 263\u003c\/p\u003e \u003cp\u003eSoftware 263\u003c\/p\u003e \u003cp\u003eAttributes of Winning Strategies 264\u003c\/p\u003e \u003cp\u003eStrategy Review 267\u003c\/p\u003e \u003cp\u003eStrategy Benchmark 279\u003c\/p\u003e \u003cp\u003eStrategy Development 300\u003c\/p\u003e \u003cp\u003eSummary 302\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Back to the Future 303\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStrategy Development 303\u003c\/p\u003e \u003cp\u003eFind a Methodology 304\u003c\/p\u003e \u003cp\u003eCode the Methodology 311\u003c\/p\u003e \u003cp\u003eReview the Methodology 312\u003c\/p\u003e \u003cp\u003eCompare the Methodology 312\u003c\/p\u003e \u003cp\u003eAdjust the Methodology 314\u003c\/p\u003e \u003cp\u003eEquity Curve Stability Review 359\u003c\/p\u003e \u003cp\u003eSensible Trading Destination 360\u003c\/p\u003e \u003cp\u003eDrawdown 361\u003c\/p\u003e \u003cp\u003eCharles Dow (1851–1902) 364\u003c\/p\u003e \u003cp\u003eBack to the Future to Move Forward 364\u003c\/p\u003e \u003cp\u003eEmbrace Diversification 365\u003c\/p\u003e \u003cp\u003eThank You 365\u003c\/p\u003e \u003cp\u003eAppendix A Literature on Trend Trading 368\u003c\/p\u003e \u003cp\u003eCowles and Jones (1933) 368\u003c\/p\u003e \u003cp\u003eLevy (1967) 368\u003c\/p\u003e \u003cp\u003eJegadeesh and Titman (1993) 369\u003c\/p\u003e \u003cp\u003eAsness, Liew and Stevens (1997) 369\u003c\/p\u003e \u003cp\u003eRouwenhorst and Geert (1998) 369\u003c\/p\u003e \u003cp\u003eLeBaron (1999) 370\u003c\/p\u003e \u003cp\u003eMoskowitz and Grinblatt (1999) 370\u003c\/p\u003e \u003cp\u003eRouwenhorst (1999) 370\u003c\/p\u003e \u003cp\u003eGriffin, Ji and Martin (2003) 370\u003c\/p\u003e \u003cp\u003eHwang and George (2004) 370\u003c\/p\u003e \u003cp\u003eWilcox and Crittenden (2005) 371\u003c\/p\u003e \u003cp\u003eFaber (2006) 371\u003c\/p\u003e \u003cp\u003eSzakmary, Shen and Sharma (2010) 371\u003c\/p\u003e \u003cp\u003eLiu, Liu and Ma (2010) 371\u003c\/p\u003e \u003cp\u003eHurst, Ooi and Pedersen (2010) 372\u003c\/p\u003e \u003cp\u003eMoskowitz, Ooi, Hua and Pedersen (2011) 372\u003c\/p\u003e \u003cp\u003eAntonacci (2012) 372\u003c\/p\u003e \u003cp\u003eLuu and Yu (2012) 372\u003c\/p\u003e \u003cp\u003eHurst, Ooi and Pedersen (2012) 373\u003c\/p\u003e \u003cp\u003eLempérière, Deremble, Seager, Potters and Bouchard (2014) 373\u003c\/p\u003e \u003cp\u003eGreyserman and Kaminski (2014) 373\u003c\/p\u003e \u003cp\u003eClare, Seaton, Smith and Thomas (2014) 373\u003c\/p\u003e \u003cp\u003eGlabadanidis (2016) 374\u003c\/p\u003e \u003cp\u003eGeorgopoulou and Wang (2016) 374\u003c\/p\u003e \u003cp\u003eHamill, Rattray and Van Hemert (2016) 374\u003c\/p\u003e \u003cp\u003eD’Souza, Srichanachaichok, Wang and Yao (2016) 374\u003c\/p\u003e \u003cp\u003eGeczy and Samonov (2017) 375\u003c\/p\u003e \u003cp\u003eHurst, Ooi and Pedersen (2017) 375\u003c\/p\u003e \u003cp\u003eIndex 377\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eBRENT PENFOLD\u003c\/b\u003e is a full-time trader, author, educator and advisor. He began his career in 1983 as an institutional dealer with Bank America and today specializes in trading global forex, index and commodity markets. He is the author of two Wiley books, \u003ci\u003eThe Universal Principles of Successful Trading \u003c\/i\u003e(2010) and \u003ci\u003eTrading the SPI\u003c\/i\u003e (2005). Brent publishes daily newsletters for active futures traders and is a popular and sought-after international speaker.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003eTHE STEP-BY-STEP, PRACTICAL GUIDE TO MAKING TREND TRADING WORK FOR YOU\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe Universal Tactics of Successful Trend Trading\u003c\/i\u003e will show you how to build a sensible, sustainable trading strategy that will work for you in good times and bad. Many people fail at trend trading. You can avoid becoming one of them, if you follow the guidance in this book. \u003c\/p\u003e\u003cp\u003eIn his signature, no-nonsense style, full-time trader Brent Penfold helps you discover whether you really have the chops to make money by trend trading. Like any trading strategy, trend trading is a risky business, and it takes a strong stomach to weather the losing streaks that will inevitably occur. But if you can stay the course – which is mapped out in detail inside – there is substantial profit to be had. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe Universal Tactics of Successful Trend Trading\u003c\/i\u003e will show you, with hands-on examples, how to account for the risks inherent to trend trading, so you can succeed no matter what happens on the global scene. The book includes a toolkit that you can use to help you review, select and develop trend trading strategies that work for you. Regardless of whether you supplement this book with Brent’s classic book \u003ci\u003eThe Universal Principles of Successful Trading, \u003c\/i\u003eor just pick it up as a standalone, it’ll be a decision you will not regret.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990360965349,"sku":"NP9781119734512","price":50.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119734512.jpg?v=1761787510","url":"https:\/\/k12savings.com\/es\/products\/the-universal-tactics-of-successful-trend-trading-isbn-9781119734512","provider":"K12savings","version":"1.0","type":"link"}