{"title":"Volume 23 (2005)","description":"\u003cp\u003eBrowse Volume articles by issue:\u003c\/p\u003e\u003cdiv style=\"display:flex;flex-wrap:wrap;gap:12px;\"\u003e\n\u003ca href=\"\/collections\/volume2320051\/issue-01?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 1 January\u003c\/a\u003e\u003ca href=\"\/collections\/volume2320051\/issue-02?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 2 February\u003c\/a\u003e\u003ca href=\"\/collections\/volume2320051\/issue-03?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 3 March\u003c\/a\u003e\u003ca href=\"\/collections\/volume2320051\/issue-13?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eBonus Issue\u003c\/a\u003e\u003ca href=\"\/collections\/volume2320051\/issue-04?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 4 April\u003c\/a\u003e\u003ca href=\"\/collections\/volume2320051\/issue-05?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 5 May\u003c\/a\u003e\u003ca href=\"\/collections\/volume2320051\/issue-06?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 6 June\u003c\/a\u003e\u003ca href=\"\/collections\/volume2320051\/issue-07?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 7 July\u003c\/a\u003e\u003ca href=\"\/collections\/volume2320051\/issue-08?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 8 August\u003c\/a\u003e\u003ca href=\"\/collections\/volume2320051\/issue-09?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 9 September\u003c\/a\u003e\u003ca href=\"\/collections\/volume2320051\/issue-10?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 10 October\u003c\/a\u003e\u003ca href=\"\/collections\/volume2320051\/issue-11?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 11 November\u003c\/a\u003e\u003ca href=\"\/collections\/volume2320051\/issue-12?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 12 December\u003c\/a\u003e\n\u003c\/div\u003e","products":[{"product_id":"stcov237exyo1","title":"Stocks \u0026 Commodities V. 23:7 (79): Explore Your Options by Tom Gentile","description":"Stocks \u0026amp; Commodities V. 23:7 (79): Explore Your Options by Tom Gentile\u003cbr\u003e\u003cbr\u003eGot a question about options? Tom Gentile is the chief options strategist at Optionetics (www.optionetics.com), an education and publishing firm dedicated to teaching investors how to minimize their risk while maximizing profits using options. To submit a question, post it to our website at http:\/\/Message-Boards.Traders.com. Answers will be posted there, and selected questions will appear in a future issue of S\u0026amp;C.\u003cbr\u003e\u003cbr\u003eLEAPS QUESTION\u003cbr\u003e\u003cbr\u003eQ: I know that there is a point in time when LEAPS turn into short-term options and change their names. Can there be any problems with renaming for me if I still\nhold such an option?\u003cbr\u003e\u003cbr\u003eA: Long-term Equity Anticipation Securities (LEAPS) have different symbols than do short-term options. However, as time passes and the options become short-term options, the symbol will change. The symbol change, however, will not affect the value of the options contract. It is merely a cosmetic change and your brokerage firm will make the necessary adjustments. There is nothing to worry about.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133904712049,"sku":"\\V23\\C07\\149EYO.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_3220ea46-e2f8-4566-a84e-25fca338659c.jpg?v=1739656281"},{"product_id":"stcov238qaby1","title":"Stocks \u0026 Commodities V. 23:6 (82): Q\u0026A by Don Bright","description":"Stocks \u0026amp; Commodities V. 23:6 (82): Q\u0026amp;A by Don Bright\u003cbr\u003e\u003cbr\u003eSINCE YOU ASKED\u003cbr\u003e\u003cbr\u003eConfused about some aspect of trading? Professional trader Don Bright of Bright Trading (www.stocktrading.com), an equity trading corporation, answers a few of your questions. To submit a question, post your question to our website at http:\/\/\nMessage-Boards.Traders.com. Answers will be posted there, and selected questions will appear in a future issue of S\u0026amp;C.\u003cbr\u003e\u003cbr\u003ePRACTICAL ADVICE FOR NEW OPTIONS TRADERS\u003cbr\u003e\u003cbr\u003eQ: I recently started to look at options trading and am considering LEAPS in particular. As with everything else, Im learning that the devil is in the details; we might have a general understanding of things, but actually getting into the market is a different matter\naltogether.\u003cbr\u003e\u003cbr\u003eCan you give me practical advice on what to do to trade options? I would greatly appreciate it if you could give\nme some pointers on what dangers I should expect, such as not getting my position filled by a broker.Jamie\u003cbr\u003e\u003cbr\u003eA: First, you need to learn the valuation principles of conversions and reverse conversions; they tend to trade at or near a fair value based on interest rates,\ndividends, and days until expiration. Dont get swayed by over- or undervalued calls or puts when compared to\nsimple historical volatility.o Floor traders, along with the major firms, are among the most savvy traders on the planet and they have the best overall tools. They have the ability to cross-instrument hedge at all times (that is, lay off interest risk via currency variables, and so on), as well as cross-market hedge with the equity futures (such as a basket of stocks\/options and futures).","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133904777585,"sku":"\\V23\\C06\\130QA.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_0885942c-566f-4ca2-bd4a-b23c0bf99f33.jpg?v=1739656286"},{"product_id":"stcov239atcl3","title":"Stocks \u0026 Commodities V. 23:11 (98): At The Close by Jayanthi Gopalakrishnan","description":"Stocks \u0026amp; Commodities V. 23:11 (98): At The Close by Jayanthi Gopalakrishnan\u003cbr\u003e\u003cbr\u003eFor reasons that are obvious (think prices at the gas\npump if youre confused), I have been watching the action in the crude oil market recently. Given that havent seen prices come down that much at the gas pumps, I thought Id pull up a chart of the continuous crude oil contracts to see where things were heading. Im not trading crude oil contracts but thought Id share my observations. Usually, I overlay a 50-period moving average but in this case, I thought a shorter period would fit better. I applied the 40-day moving average to the daily chart of the crude oil continuous contracts, since it seemed to closely correlate with the trendline displayed in Figure 1. If you look at the current action (as of September 16, 2005), you will see some\ninteresting behavior, in terms of the trendline and moving average displayed.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133906678129,"sku":"\\V23\\C11\\242CLOS.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_4cb2871a-4bc0-4ce1-aa2c-5f106a3e2ce0.jpg?v=1739656406"},{"product_id":"stcov231wefo1","title":"Stocks \u0026 Commodities V. 23:2 (103): Websites For Traders: TraderMentors.com by David Penn","description":"Stocks \u0026amp; Commodities V. 23:2 (103): Websites For Traders: TraderMentors.com by David Penn\u003cbr\u003e\u003cbr\u003eTRADERMENTORS.COM\u003cbr\u003e\u003cbr\u003eWhen Marty Schwartz decided he wanted to move from being a trader who was always going tapioca to\nsomeone who traded for a living, he and his wife wrote out a list of things he needed to do in order to make that\ndream happen. One item was to develop a sound methodology. Another item was to come up with an appropriately sized nut of $100,000 (in the early 1980s, no less). Second on the list was to buy a seat on an exchange. The third item on the list?\u003cbr\u003e\u003cbr\u003eGET A MENTOR\u003cbr\u003e\u003cbr\u003eIve riffed on this theme before. The commandment to get a mentor might be the one aspect of becoming a professional-caliber trader that many aspirants find the most vexing. This task is often all the more difficult for those who dont have ready access to a live exchange, the way Schwartz did with the American Stock Exchange or Linda Bradford Raschke did with the Pacific\nCoast Stock Exchange.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133908840817,"sku":"\\V23\\C02\\045WEB1.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_862599fa-e361-4bf4-b2bf-da8a533257ef.jpg?v=1739656527"},{"product_id":"stcov233advo","title":"Stocks \u0026 Commodities V. 23:3 (38-41): Adding Volume To The Move-Adjusted Moving Average by Stephen Bisse","description":"Stocks \u0026amp; Commodities V. 23:3 (38-41): Adding Volume To The Move-Adjusted Moving Average by Stephen Bisse\u003cbr\u003e\u003cbr\u003eIn this second article of the series, we look at how adding volume can help identify large moves in one\ndirection.\u003cbr\u003e\u003cbr\u003eIn Visiting MOMA, my previous Technical Analysis of STOCKS \u0026amp; COMMODITIES article, a simple moving average (SMA) was adjusted by the relative magnitude of the change between closes to create a move-adjusted moving average (MOMA). The reasoning behind this adjustment was that moving averages on their own can, by definition, never say anything about\nthe future direction of a time series, only give a view of where a time series has been. This holds true regardless of the lookback period used or any weightings applied to the datapoints, be it a linear weighting such as in a weighted moving average (WMA) or an exponential moving average (EMA), which uses an exponent to determine the rate at which the significance of older datapoint decays. It is no coincidence that moving averages often form the basis of trend-following trading systems.\u003cbr\u003e\u003cbr\u003eFUTURE DIRECTION\u003cbr\u003e\u003cbr\u003eLogically, the only way that a moving average can\nact as a predictor of the prices is if additional\ninformation is incorporated into the calculation.\nThis additional information has to be some sort of\nleading indicator for the time series in question.\u003cbr\u003e\u003cbr\u003eTwo well-known variations on moving averages\nalready introduce additional information into\nthe calculation: the volatility index dynamic average\n(VIDYA) developed by Tushar Chande and the volumeadjusted moving average (VAMA) developed by Richard Arms. The VIDYA uses a volatility index for weighting the datapoints, while the VAMA weights the datapoints in the lookback period based on their corresponding relative volume.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133908873585,"sku":"\\V23\\C03\\059BISS.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_54900d0b-1822-44d5-8741-5ea87eabd35b.jpg?v=1739656529"},{"product_id":"stcov231siai","title":"Stocks \u0026 Commodities V. 23:4 (16-20): Sidebar: AIQ systems EDS code moving average pullback system by Steve Palmquist","description":"Stocks \u0026amp; Commodities V. 23:4 (16-20): Sidebar: AIQ systems EDS code moving average pullback system by Steve Palmquist\u003cbr\u003e\u003cbr\u003e! EDS code for MAPS system\u003cbr\u003e\u003cbr\u003e! Steve Palmquist\u003cbr\u003e\u003cbr\u003e! www.daisydogger.com\u003cbr\u003e\u003cbr\u003e! look for Stocks in an up trend\u003cbr\u003e\u003cbr\u003eRisingCloses if LoVal([close],5) \u0026gt; HiVal([close],20,20).","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133910380913,"sku":"\\V23\\C04\\078SB.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_d8b567bc-387c-402d-aa71-fcb7a5be71d1.jpg?v=1739656619"},{"product_id":"stcov23577pr","title":"Stocks \u0026 Commodities V. 23:9 (58-59, 77-78): Product Review: TradeAccountant by David Penn","description":"Stocks \u0026amp; Commodities V. 23:9 (58-59, 77-78): Product Review: TradeAccountant by David Penn\u003cbr\u003e\u003cbr\u003eEver see a message board thread titled taxes and trading?\u003cbr\u003e\u003cbr\u003eActually, the more important question is: Have you\never clicked on or participated in a traders message board discussion on taxes and trading?\u003cbr\u003e\u003cbr\u003eDidnt think so.\u003cbr\u003e\u003cbr\u003eIf there is one subject that traders are even less enthusiastic about addressing than money management, it would truly have to be taxes and trading. Fortunately, in much the same way that popular tax preparation software products have revolutionized the process of filing taxes for hundreds of thousands of ordinary working Janes and Joes, TradeAccountant may provide a longed-for breakthrough for traders who enter tax season every year with a mixture of fear and loathing.\u003cbr\u003e\u003cbr\u003eWhat makes TradeAccountant a boon for traders?\u003cbr\u003e\u003cbr\u003eTradeAccountant is a valuable tool for real-life traders, who need not only position-tracking and trade-management tools, but also sooner or later \ntools to help them move their trading results into tax-paying reality.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133910413681,"sku":"\\V23\\C09\\189PR1.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_e89bafaa-0b08-492c-9233-02c57cce08f3.jpg?v=1739656621"},{"product_id":"stcov231wefo","title":"Stocks \u0026 Commodities V. 23:1 (122-123): Websites For Traders: PowerSwings.com by David Penn","description":"Stocks \u0026amp; Commodities V. 23:1 (122-123): Websites For Traders: PowerSwings.com by David Penn\u003cbr\u003e\u003cbr\u003ePOWERSWINGS.COM\u003cbr\u003e\u003cbr\u003eWill a massive post-election bull market in stocks do for financial weblogs what the US Presidential election season did for political blogs? I have no idea whether the consensus view of ever-higher stock prices is any more correct than the consensus contrarian view of a gut-wrenching market collapse, but as long as the markets remain a place of fascination, opportunity, and\ncontroversy, there will always be those looking for insights and, fortunately, those talented and articulate enough to provide them.\u003cbr\u003e\u003cbr\u003eOne such articulate talent is Teresa Lo, founder of PowerSwings.com and a frequent Technical Analysis of STOCKS \u0026amp; COMMODITIES contributor. While the dotcom bubble encouraged legions of financial analysts, money managers, and others to try to become more interactive through message boards, chats and chat transcripts, and other methods, a great many of those efforts either imploded with the dotcom bubble burst or metastasized into semifinancial, semipolitical\nweb journals and eventually blogs leaving the space for ongoing, running market and economic commentary from real market participants largely to the\ncontrarian camp of gold bugs and perennial market bears.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133911822705,"sku":"\\V23\\C01\\022WEB2.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_d10d5eb4-c72e-4e0d-babd-8bdb91ec957f.jpg?v=1739656720"},{"product_id":"stcov238trre1","title":"Stocks \u0026 Commodities V. 23:5 (82-88): Traders' Resource: Advisory Services by Technical Analysis, Inc.","description":"Stocks \u0026amp; Commodities V. 23:5 (82-88): Traders Resource: Advisory Services by Technical Analysis, Inc.\u003cbr\u003e\u003cbr\u003eAdvisory services are all over the place, as this listing shows. You have plenty of choices and price points to consider. One key factor is whether the outfit youre checking out is a Registered Investment Advisor (RIA) or a registered Commodity Trading Advisor (CTA). Though it doesnt weed out the undependable advice, the act of registration puts the person or persons under the governments scrutiny. In this listing, filled in by the companies themselves, youll find those who have RIA and\/or CTA certifications as well as those who are nonregistered advisories.\u003cbr\u003e\u003cbr\u003eIf its trading advice you seek, then track records are\nessential, preferably records monitored by third parties. References should also be checked, and if publications are involved, back issues should be scanned. Even then, a lengthy observation period following the advisors rationale and recommendations is prudent. Commit money to trades only when you are ready to follow the advice thoroughly: youll only have yourself to blame if you cherry-pick trades and come up with results differing from the advisors.\u003cbr\u003e\u003cbr\u003eThis listing may also include other types of products that are not strictly advisories but that may provide advice or recommendations, such as newsletters, commentary, hotlines, and educational services. This listing is only a sample of products offered; you may find additional products from these and other companies in the Traders Resource database\nat our website, Traders.com.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133911855473,"sku":"\\V23\\C05\\112TRES.pdf","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_6ed65400-daa4-43ad-9a7a-1bb391bb1b67.jpg?v=1739656722"},{"product_id":"stcov23982at","title":"Stocks \u0026 Commodities V. 23:8 (98, 82): At The Close by Jayanthi Gopalakrishnan","description":"Stocks \u0026amp; Commodities V. 23:8 (98, 82): At The Close by Jayanthi Gopalakrishnan\u003cbr\u003e\u003cbr\u003eHeres an informal question and answer with Sohail Asghar,\npresident of PennyStockAction.com and a pioneer of two\nindependent home-based activities, penny stock trading and\nsports investing.\nHow did you get interested in the markets?\nIn 1986 I visited Canada and saw my cousin daytrading on\na regular basis. He introduced me to some others who were\ndaytrading as a home-based activity. At that time, daytrading\nwasnt a popular activity in France.\nWhat did you find exciting about active trading?\nWhen I saw how popular daytrading was in the US and\nCanada and how people worked from home and handled their\nown capital in such a smart way, I really wanted to look into\nthe possibilities of doing it for myself when I returned to\nFrance. I really liked that an active trader has to be in a\nchallenging spirit vs. the stock market.\nViews From An Active Trader","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133913362801,"sku":"\\V23\\C08\\177CLOS.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_e3355e62-0b61-424c-9b69-40c116945217.jpg?v=1739656836"},{"product_id":"stcov239bofo7","title":"Stocks \u0026 Commodities V. 23:12 (94): Books For Traders by Technical Analysis, Inc.","description":"Stocks \u0026amp; Commodities V. 23:12 (94): Books For Traders by Technical Analysis, Inc.\u003cbr\u003e\u003cbr\u003eThe Definitive Guide To Point And Figure (515 pages, $90 hardcover, 2005, ISBN 1-897-59763-0) by Jeremy\ndu Plessis, published by Harriman House Publishing.\u003cbr\u003e\u003cbr\u003eThis work seeks to demystify point \u0026amp; figure charts, one of the great secrets of the technical analysis world. After an explanation of the history and development of the technique, from invention to present day, the author explains how to use P\u0026amp;F charts to project targets and\ncalculate risk-reward ratios, and covers many other aspects of point \u0026amp; figure charting in considerable detail. P\u0026amp;F charts are the voice of the market, and this book helps you listen toand understandthat voice.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133915623793,"sku":"\\V23\\C12\\263BOOK.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_e77cadd5-f062-477a-a6ba-4fdf7eecff21.jpg?v=1739657016"},{"product_id":"stcov232canr","title":"Stocks \u0026 Commodities V. 23:9 (24-29): Can Relative Strength Be Used In Portfolio Management? by J. Lewis, M. Moody, H. Parker, \u0026 A. Hyer","description":"Stocks \u0026amp; Commodities V. 23:9 (24-29): Can Relative Strength Be Used In Portfolio Management? by J. Lewis, M. Moody, H. Parker, \u0026amp; A. Hyer\u003cbr\u003e\u003cbr\u003eThe concept of relative strength is part of the foundation\nof technical analysis, but can it be used successfully\nwhen it comes to portfolio management?\u003cbr\u003e\u003cbr\u003eIn its simplest form, relative strength is the measurement of the performance of one item versus another over a period of time. Dozens of formulations\nof relative strength have been proposed by technicians, as well as others, over the years. One of the early mentions of relative strength is from one of the masters of technical analysis, Richard Wyckoff:\u003cbr\u003e\u003cbr\u003eAs your trend charts are made on transparent paper they may be laid over other charts of groups or individual stocks to show which groups and which stocks are stronger or weaker than the general market, as represented by the averages. One of the best indications of the future course of a group or a stock is its comparative strength when the rest of the market is weak, or its comparative weakness in a strong market.\u003cbr\u003e\u003cbr\u003eTHE EARLY YEARS\u003cbr\u003e\u003cbr\u003eNumerous other technicians including George Chestnutt and Sedge Coppock made their own inquiries into relative strength. These technical analysts\nwere aware of how useful it could be, but their published works on the topic generally lacked statistical detail. (Chestnutt may have preferred the pudding to the proof; he was the manager of one of the\nbest-performing mutual funds of the 1960s.)","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133917098353,"sku":"\\V23\\C09\\181LEW.pdf","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_3c87057f-ccda-43e9-ac34-69fd831fe81f.jpg?v=1739657128"},{"product_id":"stcov233oner","title":"Stocks \u0026 Commodities V. 23:1 (39-45): A One Rank Screening Technique For Mutual Funds by Norman J. Brown","description":"Stocks \u0026amp; Commodities V. 23:1 (39-45): A One Rank Screening Technique For Mutual Funds by Norman J. Brown\u003cbr\u003e\u003cbr\u003eHeres a momentum-following method using three technical analysis tools to help switch your mutual funds.\u003cbr\u003e\u003cbr\u003eIn my earlier articles describing a One Rank (OR) switching methodology (see Related reading), I emphasized that the switching rate (S\/Y or S) was the driving parameter enhancing mutual fund returns and\nlowering risk. I also showed that S is a direct measure of a funds persistence and could be used to screen equity type mutual funds for improved OR performance. Unfortunately, most funds cannot be switched at the high rates demanded by OR due to imposed restrictions by the various mutual fund suppliers. This restriction has been eliminated in the last few years by firms such as Rydex, Potomac, and ProFunds, as well as a new class of low-cost funds called exchange-traded funds (ETFs).\u003cbr\u003e\u003cbr\u003eIn this article, I propose a method that negates the need to switch a couple times a week, as in OR, by using a timehonored technical analysis approach utilizing momentum-following methods to switch. This results in only three to 12 switches per year. The three methods studied herein are: moving average convergence\/divergence (MACD), made famous by Gerald Appel; stochastic (stoch.), pioneered by the late George Lane; and Accutrack (AT). These are all well known in the technical analysis community, so I will not\nelaborate on the details.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133917131121,"sku":"\\V23\\C01\\007BROW.pdf","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_140b64d4-456b-4214-8a3a-be7b3152c6c7.jpg?v=1739657131"},{"product_id":"stcov238trre","title":"Stocks \u0026 Commodities V. 23:4 (81-85): Traders' Resource: Courses And Seminars by Technical Analysis, Inc.","description":"Stocks \u0026amp; Commodities V. 23:4 (81-85): Traders Resource: Courses And Seminars by Technical Analysis, Inc.\u003cbr\u003e\u003cbr\u003eThey say that the more you learn, the more you know you need to learn. This is true in trading. If youre not fully prepared when you go to trade, you could be the one that the smart money profits from. Education is crucial in trading. If you dont step up to the line with the right tools and know-how to trade the markets, you might as well be gambling with the odds on the houses side. But help is available, in courses, seminars, classes, manuals, books, tutorials, and personal trading mentors.\u003cbr\u003e\u003cbr\u003eReaders often ask us how they can further their knowledge and skills in trading (that is, in addition to reading STOCKS \u0026amp; COMMODITIES!). This listing which includes only a selected sample of the products offered by various firms is a place to start for educational resources.\u003cbr\u003e\u003cbr\u003eReaders may also want to check out our Readers Choice Awards in the 2005 Bonus Issue of STOCKS \u0026amp; COMMODITIES for the category of Trading Centers\/Schools\/Training.\u003cbr\u003e\u003cbr\u003eTRADERS RESOURCE AT TRADERS.COM\u003cbr\u003e\u003cbr\u003eIn addition to the information given here, Traders Resource is also available at our website, http:\/\/www.Traders.com, and in much greater detail. At our website, youll not only find out much more about all the courses and seminars listed here, but youll also find information on products and services in numerous other categories as well, such as data services, advisory services, software, and others. Just click on the Traders Resource link. Then follow the Courses and Seminars category link, or use the search feature to find products or services with specific attributes in this or other categories. For more specific information on any of the listings here, such as seminar dates and locations, instructor background, hardware and software requirements, target audience, and additional products offered by these companies, visit Traders Resource at Traders.com.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133917163889,"sku":"\\V23\\C04\\093TRES.pdf","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_0e80b93a-d062-4580-bc42-134b72efa448.jpg?v=1739657133"},{"product_id":"stcov236inbr","title":"Stocks \u0026 Commodities V. 23:7 (68-75): Interview: Brett Steenbarger by Jayanthi Gopalakrishnan","description":"Stocks \u0026amp; Commodities V. 23:7 (68-75): Interview: Brett Steenbarger by Jayanthi Gopalakrishnan\u003cbr\u003e\u003cbr\u003eNo matter how you look at it, Brett N. Steenbarger keeps busy; he is director of trader development of Kingstree Trading and clinical associate professor of psychiatry and behavioral sciences at SUNY Upstate Medical University in Syracuse, NY. Not only that, he is the author of The Psychology Of Trading and numerous articles in trading publications, many of which are archived on his website at www.brettsteenbarger.com. Steenbargers writings on brief therapy have been featured in standard reference works in psychology,\nincluding \"The Encyclopedia Of Psychotherapy\" and \"The Psychologists Desk Reference\"; his most recent book, \"The Art And Science Of Brief Psychotherapies,\" has been adopted as a core training text in psychiatric residency programs. In addition to applying short-term\nchange techniques to trading, Steenbarger coordinates a training program for new traders modeled after the medical education system.\u003cbr\u003e\u003cbr\u003eSTOCKS \u0026amp; COMMODITIES Editor Jayanthi Gopalakrishnan interviewed Brett Steenbarger via telephone on May 5, 2005.\u003cbr\u003e\u003cbr\u003eQ: How did you first become interested in trading?\u003cbr\u003e\u003cbr\u003eA: My background is as a clinical psychologist, and for 19 years I taught at Upstate Medical University in Syracuse and directed a student counseling program. In that program, I was working with medical students and their counseling needs. During that time I became acquainted with and proficient at short-term [brief] therapy, working with people in quick ways to help them make changes in their lives. I taught that to people who were learning to be therapists, and to our own students in the student counseling, and it became a major focus of my academic work.\u003cbr\u003e\u003cbr\u003eAt the same time, I was interested in trading and had followed the markets since the late 1970s. My very first experience with the markets was as a graduate\nstudent at the University of Kansas in Lawrence, when I attended a seminar offered by someone named Joseph Granville. I was intrigued by the markets, and followed them, and traded them on and off obviously in a part-time mode, since I was a graduate student and worked full time as a psychologist.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133918638449,"sku":"\\V23\\C07\\147INT.pdf","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_37671eea-8f95-4600-9301-b089b34ddbd4.jpg?v=1739657229"},{"product_id":"stcov239atcl1","title":"Stocks \u0026 Commodities V. 23:7 (97): At The Close by Jayanthi Gopalakrishnan","description":"Stocks \u0026amp; Commodities V. 23:7 (97): At The Close by Jayanthi Gopalakrishnan\u003cbr\u003e\u003cbr\u003eIt doesnt hurt to remember that the simplest of indicators can provide a great deal of information. Im looking at the daily chart of the Standard \u0026amp; Poors 500 index when I say this because I cant think of a better example of the behavior of the 50-day simple moving\naverage (SMA). Note from the chart in Figure 1 how it acts as a resistance level. The average is sloping down, and on May 9, 2005 and the following day,\nprices hit that level and moved down. I have actually used this indicator for my long-term investments. When the value of the S\u0026amp;P 500 fell below the 50-day SMA,\nI moved all my long-term investments into stable value funds. Although my returns werent stellar, at least I can boast by saying that they didnt lose any money.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133918671217,"sku":"\\V23\\C07\\153CLOS.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_96c8db67-dc21-4965-9534-6a76ca8ec470.jpg?v=1739657231"},{"product_id":"stcov239bofo3","title":"Stocks \u0026 Commodities V. 23:8 (94): Books For Traders by Technical Analysis, Inc.","description":"Stocks \u0026amp; Commodities V. 23:8 (94): Books For Traders by Technical Analysis, Inc.\u003cbr\u003e\u003cbr\u003eEconomic And Financial Decisions Under Risk (244 pages, $35 softcover, 2005, ISBN 0-691-12215-6) by\nLouis Eeckhoudt, Christian Gollier, and Harris Schlesinger, published by Princeton University Press.\u003cbr\u003e\u003cbr\u003eUnderstanding and dealing with risk is an essential part of modern economics. This book represents a summary of basic multiperiod decision-making under risks. The authors start with the fundamentals of risk measurement and risk aversion, then apply these concepts to insurance decisions and portfolio choice in\na one-period model. The rest of the book is mostly devoted to looking at these decisions in a multiperiod context, which adds the long-term perspective most risk management analyses requires. Each chapter concludes with a discussion of the relevant literature and a set of problems.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133918703985,"sku":"\\V23\\C08\\176BOOK.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_a2f9b4f9-723b-4caf-9aef-c603ae69dfd5.jpg?v=1739657234"},{"product_id":"stcov232chyo","title":"Stocks \u0026 Commodities V. 23:11 (20-27): Chart Your Stocks With Float Charts by Steve Woods","description":"Stocks \u0026amp; Commodities V. 23:11 (20-27): Chart Your Stocks With Float Charts by Steve Woods\u003cbr\u003e\u003cbr\u003ePrice is king. Volume is queen. Both live in the context of time. But is there a prince or prime minister who has been overlooked? Float charts may have the answer.\u003cbr\u003e\u003cbr\u003eIn my 1996 STOCKS \u0026amp; COMMODITIES article, I introduced the cumulative volume float indicator and In\ndemonstrated a dynamic relationship between a stocks price and volume and its floating supply of shares. The idea was simple: by adding up volume cumulatively on a chart, we can identify rectangles that correspond with areas of accumulation at the bottom and distribution at the top. Since then, I have come to realize that what I discovered was not just a new indicator but an entirely new type of stock chart.\u003cbr\u003e\u003cbr\u003eTo understand, consider this question: What data goes into creating a stock chart? Price and volume. Is there a piece of data that stock charts have not been using? If the historical pantheon of charting begins with candlesticks, then goes to point and figure, then moves on to price \u0026amp; volume, I would ask: Is there a fourth way of charting stocks? Is there an overlooked piece of data which, when used properly, actually creates a new type of stock chart? Is there a new way to look at what is happening in a stocks trading history? Yes! The missing data is the float number. The new type of chart is a float chart, and its origins go back to W.D. Ganns book, Truth Of The Stock Tape, originally published in 1923.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133920145777,"sku":"\\V23\\C11\\224WOOD.pdf","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_dabae87b-ad3b-4307-a476-06b51b7e2172.jpg?v=1739657342"},{"product_id":"stcov233wefo","title":"Stocks \u0026 Commodities V. 23:3 (36): Websites For Traders: TradeTheNews.com by Jayanthi Gopalakrishnan","description":"Stocks \u0026amp; Commodities V. 23:3 (36): Websites For Traders: TradeTheNews.com by Jayanthi Gopalakrishnan\u003cbr\u003e\u003cbr\u003eWWW.TRADETHENEWS.COM\u003cbr\u003e\u003cbr\u003eNews moves the markets, and its in the best interest of every trader to keep abreast of the financial news. Because of this, most traders tune into some news channel, whether it be radio or television, to hear the financial news throughout the trading day. But now, with\nTradeTheNews.com (TTN), you have the option of receiving real-time audio news via the Internet, the benefit being that you can keep your eyes and ears focused on the screen or screens in front of you.\u003cbr\u003e\u003cbr\u003eTTN is a closed-circuit network, so youll need to download the Withit IP Dealerboard before you can receive any news. Note there are four spaces for channels, and you can assign each by selecting from the authorized channel list. As of this writing, your options are Trade The News, S\u0026amp;P Futures pits, and the Nasdaq futures pits.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133920211313,"sku":"\\V23\\C03\\057WS1.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_7cc88015-2f9c-40d2-8079-748d9cd53b4f.jpg?v=1739657345"},{"product_id":"stcov236inri","title":"Stocks \u0026 Commodities V. 23:2 (68-75): Interview: Rick Ackerman Of Rick's Picks by Jayanthi Gopalakrishnan","description":"Stocks \u0026amp; Commodities V. 23:2 (68-75): Interview: Rick Ackerman Of Ricks Picks by Jayanthi Gopalakrishnan\u003cbr\u003e\u003cbr\u003eRick Ackerman started out as a newspaperman before he found his calling as a trader. How often does that happen? Not very! He went from journalism to a seat on the Pacific Stock Exchange (PSE), where he learned to trade the hard way. He has been trading stocks, futures, and options for nearly 30 years, 12 of them as a market maker on the PSE. Currently, he manages a\nhedge fund and is the editor and publisher of Ricks Picks, a daily advisory geared to traders and investors. The technical tools described in this interview took 14 years to develop and hone. STOCKS \u0026amp; COMMODITIES Editor Jayanthi Gopalakrishnan interviewed Rick Ackerman via telephone on December 2, 2004.\u003cbr\u003e\u003cbr\u003eQ: How did you get into trading?\u003cbr\u003e\u003cbr\u003eA: Growing up, I would get stock shares as birthday presents. I wouldnt say I got hooked on the stock market then, but I enjoyed watching the stocks go up. Later, I worked as a reporter and editor for the Atlantic City Press. I came out to California in the mid-1970s looking for a job on a newspaper, but I couldnt find\none. I had visited the Philadelphia Options Exchange a few times, and it seemed like an interesting place to work; and I realized that if I simply leased a seat on the Pacific Stock Exchange (PSE), I wouldnt have to look around for a job in California Id already have one. So, sometime in the late 1970s, I became a member of the PSE and leased a seat for a few hundred dollars a month. I had borrowed about $35,000 money that I used to trade, and also to live on. It took me about six months to run that $35,000 down to $2,000. So it really\ncame down to survival.\u003cbr\u003e\u003cbr\u003eQ: What did you do then?\u003cbr\u003e\u003cbr\u003eA: I would sit outside the exchange, eating a brown-bag lunch with my friend Frank, and we would try to figure out what had to happen, and whether some revelation\nwould come that would save both of us. Frank didnt make it; he left. But I was trading in Levi Strauss options at the time, and I remember putting on\na calendar spread 40 times in Levi. I was just about out of the game at that point.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133920276849,"sku":"\\V23\\C02\\038INT.pdf","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_b4695309-ae2d-44aa-b2e5-25eebd7703a5.jpg?v=1739657347"},{"product_id":"stcov23563fo","title":"Stocks \u0026 Commodities V. 23:2 (56-59, 63): Fourier Transforms As An Aid To Decision-Making by Alok Srivastava","description":"Stocks \u0026amp; Commodities V. 23:2 (56-59, 63): Fourier Transforms As An Aid To Decision-Making by Alok Srivastava\u003cbr\u003e\u003cbr\u003eInterested in improving the performance of\nyour indicators? It may be worth your while to\ngain an understanding of Fourier transforms,\nfrequency analysis, and inverse transformations.\u003cbr\u003e\u003cbr\u003eTraditionally, technical analysis has been used to detect and interpret patterns in past security prices to\nprovide insight into future price movement. This, in turn, has lured researchers to try to beat the markets consistently, using a range of techniques varying from mathematics, physics, and economics to psychology. In this article, I will focus on the use of Fourier transforms together with technical analysis in making\ntrading decisions.\u003cbr\u003e\u003cbr\u003eFOURIER TRANSFORMS\u003cbr\u003e\u003cbr\u003eThe application of Fourier transforms has been well established in fields like digital signal processing (DSP), medical diagnostics, image processing, the media, and so on. The Fourier transform breaks up a signal from the time domain to a frequency domain,\ncharacterizing signals and letting you see order where there appeared to be none. For this article I used the transform to convert raw data into useful information to aid in making trading decisions.\u003cbr\u003e\u003cbr\u003eMany technical analysis indicators seem to work well for specific kinds of patterns. Unfortunately, there are no indicators that can take into account all of the possible\ncharacteristics that a price series can exhibit. I will show you how to incorporate stock price volatility so your indicators can adapt accordingly.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133922144625,"sku":"\\V23\\C02\\035SRIV.pdf","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_bd0cfaa4-f5cd-49f1-b80d-9f54e5ade4ad.jpg?v=1739657450"},{"product_id":"stcov235sira","title":"Stocks \u0026 Commodities V. 23:12 (50-52): A Simple Range-Trading System by Xavier Maria Raj","description":"Stocks \u0026amp; Commodities V. 23:12 (50-52): A Simple Range-Trading System by Xavier Maria Raj\u003cbr\u003e\u003cbr\u003eCreating a trading system is always a good idea, and\nkeeping it simple is even better. Heres a look at one\nstrategy that could make all the difference.\u003cbr\u003e\u003cbr\u003eIt is always tempting to react to price movements, but doing so to each one may not be a good idea. If you\nreact to each and every price move, your transaction costs could be comparatively more than your profits!\u003cbr\u003e\u003cbr\u003eTo avoid this situation, you could use filters or identify specific patterns and build a trading strategy. With this in mind, I have presented a simple strategy based on a specific chart pattern.\u003cbr\u003e\u003cbr\u003eTHE LOGIC BEHIND THE PATTERN\u003cbr\u003e\u003cbr\u003eThe chart pattern involves identifying the bar with an expanded range relative to the previous bars range. This pattern is confirmed when the current bars range (High low) is greater than the previous bars range.\u003cbr\u003e\u003cbr\u003eTodays Range (High Low)\u0026gt; Previous Days Range\u003cbr\u003e\u003cbr\u003eBased on this pattern, lets formulate a trading strategy.\u003cbr\u003e\u003cbr\u003e Signals to be generated for the next day are based on the direction of the expanded day. So on the day of the upward direction in prices when the close is greater than the open take only long signals for the next trading day.\u003cbr\u003e\u003cbr\u003e If prices move in a downward direction, take only short signals for the next trading day.\u003cbr\u003e\u003cbr\u003eThe last bar on Figure 1 shows an expanded range day with an upward direction. Figure 2 shows an expanded range day with a downward direction. Based on this trading rule, lets generate signals using the following condition:\u003cbr\u003e\u003cbr\u003e Generate a buy signal on the trading day following the upward direction expanded range day with a stop-loss buy order above the previous high plus one tick. . .","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133922177393,"sku":"\\V23\\C12\\252RAJ.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_9842d197-55fb-4bcb-a1cf-ea1d4f50371e.jpg?v=1739657453"},{"product_id":"stcov239bofo5","title":"Stocks \u0026 Commodities V. 23:10 (94): Books For Traders by Technical Analysis, Inc.","description":"Stocks \u0026amp; Commodities V. 23:10 (94): Books For Traders by Technical Analysis, Inc.\u003cbr\u003e\u003cbr\u003eThe Bible Of Options Strategies (356 pages, $49.95\nhardcover, 2005, ISBN 0-13-171066-4) by Guy Cohen,\npublished by FT\/ Prentice Hall.\u003cbr\u003e\u003cbr\u003ePick the right options strategies ... implement them step-bystep ... maximize your profits! This is a comprehensive reference to contemporary options trading. OptionsEasy creator Guy Cohen identifies todays strategies and tells you how and when to use each one. It includes the strategies of buying and shorting shares, calls and puts, income strategies like covered calls, naked puts, iron butterflies, calendar\ncalls, and more.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133922275697,"sku":"\\V23\\C10\\220BOOK.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_565a81e1-8ef7-4519-ace8-7ee6784d83c2.jpg?v=1739657456"},{"product_id":"stcov231appi","title":"Stocks \u0026 Commodities V. 23:11 (16-19): Applying Pit-Trading Techniques To Electronic Trading by Clem Chambers","description":"Stocks \u0026amp; Commodities V. 23:11 (16-19): Applying Pit-Trading Techniques To Electronic Trading by Clem Chambers\u003cbr\u003e\u003cbr\u003eJust like every other established futures market, the London International Financial Futures Exchange (LIFFE) used to have a pit where colorfully jacketed traders stood and bellowed their orders back and forth.\nBut in recent years, pit trading has made way for\nelectronic trading and the old floor traders have either retired, gone to the US to work the pits there, or made the transition to screen trading.\u003cbr\u003e\u003cbr\u003eThose who hoped to make it trading electronically have\nfound it hard to get by; screen trading is a different game altogether. Now, most perhaps all have disappeared from the LIFFE market completely.\u003cbr\u003e\u003cbr\u003eTHE MARKET MAKERS\u003cbr\u003e\u003cbr\u003eIf you were to ask pit traders how they make money, it is\nunlikely you would get a satisfactory answer. I put this down to the fact that most are self-taught; they understand the job intuitively rather than technically years of practice in an incredibly frenetic environment, not a textbook, have taught them their trade.\u003cbr\u003e\u003cbr\u003eAfter talking to them, you can often be left with the feeling they dont know how they make money. Alternately, you will\nbe regaled by stories of hunches or pulling off massive trades, and a never-ending flow of war stories that sound good but dont leave you with much of an idea of how their gut turns into profit. Trading futures on screen should be like trading on the floor, but it isnt. The good news, however, is that comparing and contrasting\nthe two opens up new ways to trade.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133925618033,"sku":"\\V23\\C11\\223CHAM.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_4de8a5e6-bab1-4843-ac06-784891c46f9f.jpg?v=1739657655"},{"product_id":"stcov239bofo","title":"Stocks \u0026 Commodities V. 23:4 (96): Books For Traders by Technical Analysis, Inc.","description":"Stocks \u0026amp; Commodities V. 23:4 (96): Books For Traders by Technical Analysis, Inc.\u003cbr\u003e\u003cbr\u003eInvestorWiz!: An Educational Investment Course For\nNovice Investors (124 pages, $65 softcover, 2003, ISBN\n1932560777) by Soraya Nasrallah, published by Lumina Press. InvestorWiz! is a 10-chapter investor course for novice investors and features samples, practice exercises, answer pages, and other resources on stock basics, brokerage accounts and forms, the economy, chart analysis, and more. This book will assist novice investors and those seeking more financial independence or searching for a career in the brokerage industry.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133925650801,"sku":"\\V23\\C04\\094BOOK.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_0b9f1e9e-fc25-4b41-a364-a3e982e1e430.jpg?v=1739657657"},{"product_id":"stcov234exyo3","title":"Stocks \u0026 Commodities V. 23:10 (45): Explore Your Options by Tom Gentile","description":"Stocks \u0026amp; Commodities V. 23:10 (45): Explore Your Options by Tom Gentile\u003cbr\u003e\u003cbr\u003eGot a question about options? Tom Gentile is the chief options strategist at Optionetics (www.optionetics.com), an education and publishing firm dedicated to teaching investors how to minimize their risk while maximizing profits using options. To submit a question, post it to our website at http:\/\/Message-Boards.Traders.com. Answers will be posted there, and selected questions will\nappear in a future issue of S\u0026amp;C.\u003cbr\u003e\u003cbr\u003eEXITING A SPREAD\u003cbr\u003e\u003cbr\u003eI once read about three ways to exit a spread, but I dont remember them all. I know I can close the position\nthrough an offsetting transaction. What are the others?\u003cbr\u003e\u003cbr\u003eSpreads include combinations of options that are bought (or long) and options that are sold (or short). If a trader holds a spread with a combination of long and short options, three things can happen. The first is to close the position by initiating an offsetting or closing\ntransaction. In that scenario, the strategist would buy back the short options and sell the long ones.\u003cbr\u003e\u003cbr\u003eAlternatively, the position can be held through expiration and the options can expire worthless. This often happens with successful credit spreads. For example, if a strategist is in a bear call spread, which is created by selling a call and purchasing a call with a higher\nstrike price, the trade creates a credit. This credit is earned because the short call with the lower strike price will have a greater premium than the long call. If the stock falls and remains below the strike price of both call options at expiration, the options can expire\nworthless and the strategist keeps the credit. Thus, with some spreads, letting the options expire is a viable and desirable way of exiting the position.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133927780721,"sku":"\\V23\/C10\\208EYO.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_5ad53387-777c-4ea1-9c41-d538b420efc4.jpg?v=1739657803"},{"product_id":"stcov236ovbi","title":"Stocks \u0026 Commodities V. 23:5 (62-63): Overcoming Bias by Gary Norden","description":"Stocks \u0026amp; Commodities V. 23:5 (62-63): Overcoming Bias by Gary Norden\u003cbr\u003e\u003cbr\u003eTrading biases may be affecting your decision-making abilities. Being aware of them can help you overcome them.\u003cbr\u003e\u003cbr\u003eIt has always amazed me how, in a business in\nwhich we essentially have a 50% probability of making\nmoney, about 80% of private traders lose. In the futures market where technical analysis is more prominent, the failure rate is even higher more than 90%. Could it be that a majority of traders are doing something drastically wrong?\u003cbr\u003e\u003cbr\u003eWHAT ARE TRADERS DOING?\u003cbr\u003e\u003cbr\u003eFrom my experience as a local trader on LIFFE, running investment bank trading desks, and from conversations with traders and brokers around the world, I have reached the conclusion that the biases and rules of thumb like anchoring, conservativeness, and loss\naversion described by behavioral finance supporters are good examples of where traders go wrong. More likely than not, traders are prone to one or more of these biases, which can result in irrational and poor decision-making. In order to improve your trading, you must first of all recognize these biases before you can overcome them.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133933089137,"sku":"\\V23\\C05\\108NORD.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_bc70a371-393f-45be-9ed3-fafa3b840cb4.jpg?v=1739658007"},{"product_id":"stcov236prre1","title":"Stocks \u0026 Commodities V. 23:6 (60-63): Product Review: ChartFilter by David Penn","description":"Stocks \u0026amp; Commodities V. 23:6 (60-63): Product Review: ChartFilter by David Penn\u003cbr\u003e\u003cbr\u003eIf there is one question I am asked more than any other by readers, then without a doubt that question is: Where can I find a good stock screener\/scanner?\u003cbr\u003e\u003cbr\u003eFor the stock investor or trader, this is not without good reason. Unlike futures traders, who have a fairly finite universe of as many as 20 different commodities to track and followmuch less foreign exchange traders, who tend to focus on a range of anywhere from two to\n10 different currency pairsthe stock trader faces a relatively unique problem. For one, there are thousands of stocks, any one of which is as likely to make a major move as another. And while there may be safety and comfort in the familiar, the trader or investor who limits him- or herself to Dow stocks, or Nasdaq 100 stocks, or Standard \u0026amp; Poors 500 stocks will constantly feel like kicking him- or herself for missing the stocks that show\nup on Big Mover lists days later after theyve made their big move.\u003cbr\u003e\u003cbr\u003eStock traders and investors looking for quality stock screeners are generally one of two types. The first type demands an exceptional degree of flexibility in determining the criteria of the various stock screens. Often, this trader is comfortable (to say nothing of happiest) when busily concocting ever more intricate codes and algorithms that, when properly optimized, will illuminate potentially winning stocks like blips on a\nradar screen.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133935415665,"sku":"\\V23\\C06\\125PR1.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_708ce224-8ab0-462f-811b-e9a9bde00bbd.jpg?v=1739658150"},{"product_id":"stcov239bofo2","title":"Stocks \u0026 Commodities V. 23:7 (97): Books For Traders by Technical Analysis, Inc.","description":"Stocks \u0026amp; Commodities V. 23:7 (97): Books For Traders by Technical Analysis, Inc.\u003cbr\u003e\u003cbr\u003eThe Automatic Millionaire Workbook (200 pages, $14.95 softcover, 2005, ISBN 0-7679-1948-3) by David Bach, published by Broadway Books. This workbook features the five questions that determine, with 90% certainty, if you will be an Automatic Millionaire, and charts and checklists for paying down debt while you save. There is one crucial step that guarantees your\nfinancial plan will succeed, as well as details on where to invest, what phone calls to make, and exactly what to say when automating your financial future.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133937054065,"sku":"\\V23\\C07\\152BOOK.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_2e1f0a30-9a0f-4469-9d07-1211c1962088.jpg?v=1739658278"},{"product_id":"stcov231prre","title":"Stocks \u0026 Commodities V. 23:2 (104-105): Product Review: Financial Data Calculator 3.0 by Jayanthi Gopalakrishnan","description":"Stocks \u0026amp; Commodities V. 23:2 (104-105): Product Review: Financial Data Calculator 3.0 by Jayanthi Gopalakrishnan\u003cbr\u003e\u003cbr\u003eIt's amazing that a product that looks like nothing more\nthan a notepad is capable of doing all that this program does. In all honesty, when I opened up Financial Data Calculator (FDC) and saw a blank page, I was rather skeptical. But after going through the tutorials provided in the CD, I was impressed with its rich array of features. FDC is capable of performing what any other trading platform can do, and because it doesnt have any rigid structure, youre free to do just about anything with it.\u003cbr\u003e\u003cbr\u003eINSTALLATION\u003cbr\u003e\u003cbr\u003eAfter you insert the CD, the setup program starts automatically. Youll be prompted to enter a serial number that you get from Mathematical Investment\nDecisions, and then the program starts.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133938266481,"sku":"\\V23\\C02\\046PR3.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_9e29d567-19d9-4a32-bb06-3bc5d3265094.jpg?v=1739658371"},{"product_id":"stcov231leto6","title":"Stocks \u0026 Commodities V. 23:7 (10-15): Letters To S\u0026C by Technical Analysis, Inc.","description":"Stocks \u0026amp; Commodities V. 23:7 (10-15): Letters To S\u0026amp;C by Technical Analysis, Inc.\u003cbr\u003e\u003cbr\u003eThe editors of S\u0026amp;C invite readers to submit their opinions and information on subjects relating to technical analysis and this magazine. This column is our means of communication with our readers. Is there something you would like to know more (or less) about? Tell us about it. Without a source of new ideas and subjects coming from our readers, this magazine\nwould not exist.\u003cbr\u003e\u003cbr\u003eS\u0026amp;C MARKET PROFILE ARTICLES\u003cbr\u003e\u003cbr\u003eEditor,\u003cbr\u003e\u003cbr\u003eI am conducting research on every article you have published on Market Profile. Can you please help me find all the links?\u003cbr\u003e\u003cbr\u003eALEX BENJAMIN\nvia email\u003cbr\u003e\u003cbr\u003eBy performing a search at our website, www.Traders.com, you should be able to find all the references to Market Profile weve published. You could also search for Donald Jones, since he has written articles on that subject. Good luck.Editor","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133939839345,"sku":"\\V23\\C07\\135LET.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_0f20c44e-f5a0-447f-bcea-b638be69fc72.jpg?v=1739658478"},{"product_id":"stcov231twom","title":"Stocks \u0026 Commodities V. 23:9 (16-22): Two Moving Function Hybrids by William Rafter","description":"Stocks \u0026amp; Commodities V. 23:9 (16-22): Two Moving Function Hybrids by William Rafter\u003cbr\u003e\u003cbr\u003eFind out how to use these smooth and timely indicators.\u003cbr\u003e\u003cbr\u003eIn analyzing the markets, we frequently findourselves looking at data that is not quite adequate for our needs. More often than not, the data is erratic. We want a reliable market indicator, not an erratic one; so we usually smooth the data with a variety of tools. This smooth the data with a variety of tools. This smoothness comes at a price speed. Thus, when you find something that is both smooth and timely, its time to take notice. The moving slope is one such indicator.\u003cbr\u003e\u003cbr\u003eTHE RATE OF CHANGE\u003cbr\u003e\u003cbr\u003eTwo of the common momentum indicators used by traders are the change and rate of change (commonly referred to as ROC). The latter is really only the former divided by price, but it has the advantage of being price-independent that is, by comparing the 25-day changes of two datasets, you must be mindful that the datasets may be priced differently. By taking their rates of change, you eliminate the price bias. For example, compare the two panes of Figure 1. The top pane illustrates the 25-day change of the closes of the Dow\nJones Industrial Average (DJIA) and the Standard \u0026amp; Poors 500 (S\u0026amp;P). The price differences of the respective indexes make comparison almost impossible. The lower pane shows the indexes compared on the basis of their 25-day ROCs, which is considerably more useful than the top pane.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133942886769,"sku":"\\V23\\C09\\180RAFT.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_af410d5c-6eea-4aba-944d-319b2130ace2.jpg?v=1739658714"},{"product_id":"stcov234sisp","title":"Stocks \u0026 Commodities V. 23:11 (44-48): Singular Spectrum Analysis: Part II by Sergiy Drogobetskii","description":"Stocks \u0026amp; Commodities V. 23:11 (44-48): Singular Spectrum Analysis: Part II by Sergiy Drogobetskii\u003cbr\u003e\u003cbr\u003eHeres another look at applying singular spectrum analysis to the foreign exchange markets.\u003cbr\u003e\u003cbr\u003eIn my last article, I discussed some of the variables that make up single spectrum analysis (SSA), an analytical\nmethod that has been applied to various branches of\nscientific study. It has proved useful for compressing information, smoothing initial data and, in certain cases, predicting time series data prices. Last time, I showed how SSA could be applied to forex market\nprices. This time, I will continue in that direction and show how you can apply SSA to forecast prices.\nIn reconstructing the initial time series, one important consequence of the singular value decomposition\n(SVD) of a trajectory matrix (built from the time series of prices) is that it is possible to completely reconstruct\nthe decomposed initial trajectory matrix by using empirical orthogonal functions (EOFs) contained\nin the right matrix V...","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133942919537,"sku":"\\V23\\C11\\230DROG.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_a90fe088-61f6-4cdd-a7cc-04e5a0a2370a.jpg?v=1739658716"},{"product_id":"stcov234sied","title":"Stocks \u0026 Commodities V. 23:9 (42-47): Sidebar: EDS code for MAS system by Steve Palmquist","description":"Stocks \u0026amp; Commodities V. 23:9 (42-47): Sidebar: EDS code for MAS system by Steve Palmquist\u003cbr\u003e\u003cbr\u003eEDS CODE FOR MAS SYSTEM (for use in AIQ Systems TradingExpert Pro program)\u003cbr\u003e\u003cbr\u003e! Look for stocks in a downtrend\nLowerCloses if HiVal([close],5) \u0026lt; LoVal([close],20,20).\n! Defining the 35-day simple moving average\nPullbackMAS is simpleavg([close],35)...","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133944885617,"sku":"\\V23\\C09\\185SB.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_23cf3d33-a610-4856-9e6b-b8e3c5cc502c.jpg?v=1739658795"},{"product_id":"stcov238qaby","title":"Stocks \u0026 Commodities V. 23:2 (80): Q\u0026A by Don Bright","description":"Stocks \u0026amp; Commodities V. 23:2 (80): Q\u0026amp;A by Don Bright\u003cbr\u003e\u003cbr\u003eSINCE YOU ASKED\u003cbr\u003e\u003cbr\u003eConfused about some aspect of trading? Professional trader Don Bright of Bright Trading (www.stocktrading.com), an equity trading corporation, answers a few of your questions. To submit a question, post your question to our website at http:\/\/Message-Boards.Traders.com. Answers will be posted there, and selected questions will appear in a future issue of S\u0026amp;C.\u003cbr\u003e\u003cbr\u003eTICKER\u003cbr\u003e\u003cbr\u003eWhile watching the ticker on CNBC preopening, I note most trades are in the hundreds of shares. After the opening, I note the trades are predominantly in the tens of thousands per trade. Then, when I access a Level II\ntime and sales ticker, even after opening, I note, once again, predominantly trades in the hundreds of shares with no sign of the big trades. If I am looking at Level II and see a market maker showing 100s at $20.05 (for example), what is the impact of all of those big shares that are not showing up on my trading screen? Does it have no effect at all on the bid\/ask? Would that volume not move the stock price, even if no low-volume trades are currently showing up on my screen?\u003cbr\u003e\u003cbr\u003eJames Kellndorfer addressed this same question in the October issue of Technical Analysis of STOCKS \u0026amp; COMMODITIES, and he seems to have no answer either. In view of the facts shown in Kellndorfers article pertaining to the increase in program trading with a simultaneous decrease in small trading activity, has this caused your traders to seek faster trades while accepting smaller gains in order to remain in the trading business?\u003cbr\u003e\u003cbr\u003eThanks Ponsinir\u003cbr\u003e\u003cbr\u003eThere are simple answers to your questions. Before the opening bell, you may see some trading in the\npremarket hours. Big players dont bother much with pre- or post-market\nhours trading. . .","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133944918385,"sku":"\\V23\\C02\\040QA.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_7239ef55-fe59-46bf-b2b2-605e40f6443d.jpg?v=1739658797"},{"product_id":"stcov235inba","title":"Stocks \u0026 Commodities V. 23:12 (56-61): Interview: Barbara Rockefeller by Jayanthi Gopalakrishnan","description":"Stocks \u0026amp; Commodities V. 23:12 (56-61): Interview: Barbara Rockefeller by Jayanthi Gopalakrishnan\u003cbr\u003e\u003cbr\u003eBarbara Rockefeller of Rockefeller Treasury Services is an international economist, author, newsletter publisher, and trader specializing in foreign exchange, with more than 20 years of institutional experience.\nHer Daily Currency Briefing newsletter is a synopsis of events and forecasts in spot foreign exchange, published for central banks, fund managers, and multinational corporations, while the Daily\nFutures Report is a technical analysisbased report on currency futures. Prior to starting the newsletter business in 1990, she was the senior risk manager in the international division at Citibank. STOCKS \u0026amp; COMMODITIES Editor Jayanthi Gopalakrishnan interviewed Rockefeller via telephone on October 6, 2005.\u003cbr\u003e\u003cbr\u003eQ: How did you get started in technical analysis?\u003cbr\u003e\u003cbr\u003eA: I was an economics major in college and had to write a senior thesis. I had just spent a year at the\nUniversity of Keele in Staffordshire, England, so I decided to write about why the pound must be devalued. This was back in the days of fixed exchange rates, and in those days, we thought foreign exchange rates were set by economics. As it happens, before I finished the thesis, they did devalue the pound. My\nthesis advisor thought I was perspicacious and of course, I didnt have a clue! Who has a clue when they are 21?\u003cbr\u003e\u003cbr\u003eQ: Most people dont. So did that get the wheels rolling?\u003cbr\u003e\u003cbr\u003eA: Not really. Even after exchange rates were floated in the 1970s, analysts still thought that economics ruled FX rates. When I was at Brown Brothers Harriman, they had a process of forecasting exchange rates consisting of everybody in the room writing down their forecasts for one, three, six, and 12 months. Then the boss would take all the numbers, knock off the high and low estimates, average the rest, and there was your forecast. It was an incredibly ineffective way to forecast! Moreover, a lot of value judgments went into the forecasts, like my colleague who always said, America is the greatest country in the world. The dollar should be strong! There was a bias toward forecasting the dollar higher, even though it was falling, month after month. I spoke up against it and it made me a troublemaker.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133961793905,"sku":"\\V23\\C12\\254INT.pdf","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_7db1ec52-45ac-4bca-ad48-a0ad1ff87a6b.jpg?v=1739658904"},{"product_id":"stcov234exyo","title":"Stocks \u0026 Commodities V. 23:3 (45): Explore Your Options by Tom Gentile","description":"Stocks \u0026amp; Commodities V. 23:3 (45): Explore Your Options by Tom Gentile\u003cbr\u003e\u003cbr\u003eGot a question about options? Tom Gentile is the chief options strategist at Optionetics (www.optionetics.com), an education and publishing firm dedicated to teaching investors how to minimize their risk while maximizing profits using options. To submit a question, post it to our website at http:\/\/Message-Boards.Traders.com. Answers will be posted there, and selected questions will appear in a future issue of S\u0026amp;C.\u003cbr\u003e\u003cbr\u003eTIME TO GO?\u003cbr\u003e\u003cbr\u003eQ: Tom, Ive heard you saying, When volatility is high, its time to buy, but when its low, its time to go. I think it was in the context that volatility is increasing when\nstocks are falling and thats a good time to buy. Conversely, when volatility is low, it may be time to take profits and avoid a correction. Do I have this right?\nThanks Rock\u003cbr\u003e\u003cbr\u003eA: The sayings VIX is high, its time to buy or VIX is low, its time to go are often used with reference to the CBOE Volatility Index ($VIX). The index tracks the expected volatility of the Standard \u0026amp; Poors 500 Index ($SPX), which is updated in real time using the prices of SPX options. In addition, VIX is often used as a contrary sentiment indicator.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133966315889,"sku":"\\V23\\C03\\061EYO.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_915751af-988a-42d3-ba86-c48042e3e8b2.jpg?v=1739659223"},{"product_id":"stcov234qaby2","title":"Stocks \u0026 Commodities V. 23:11 (40): Q\u0026A by Don Bright","description":"Stocks \u0026amp; Commodities V. 23:11 (40): Q\u0026amp;A by Don Bright\u003cbr\u003e\u003cbr\u003eSINCE YOU ASKED\u003cbr\u003e\u003cbr\u003eConfused about some aspect of trading? Professional trader Don Bright of Bright Trading (www.stocktrading.com), an equity trading corporation, answers a few of your questions. To submit a question, post your question to our website at http:\/\/ Message-Boards.Traders.com. Answers will be posted there, and selected questions will appear in a future issue of S\u0026amp;C.\u003cbr\u003e\u003cbr\u003eSPECIALIST STRATEGY\u003cbr\u003e\u003cbr\u003eI am interested in your strategy for calculating fair value, mentioned in the August 2005 issue of S\u0026amp;C. How can I\nget more info on this strategy?Joseph Staron\u003cbr\u003e\u003cbr\u003eTwo answers: You can always check out one of our training programs (www.stocktrading.com), or you can\ngo to www.elitetrader.com (register for free), and check the forum called Dons openings and more. You will have to weed through several nonsense posts, but a search back to the original thread from a few years ago will show you more in-depth discussions of this particular strategy.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133966348657,"sku":"\\V23\\C11\\228QA.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_677df3f5-310d-46c8-8e03-6473f10c135c.jpg?v=1739659226"},{"product_id":"stcov231soda","title":"Stocks \u0026 Commodities V. 23:6 (16-22): Something Darvas, Something New by Daryl Guppy","description":"Stocks \u0026amp; Commodities V. 23:6 (16-22): Something Darvas, Something New by Daryl Guppy\u003cbr\u003e\u003cbr\u003eIn the May 2005 STOCKS \u0026amp; COMMODITIES, Daryl Guppy discussed classic Darvas-style trading. Here, he modifies the technique to fit modern-day markets, given that markets are more volatile these days than they were in the 1960s.\u003cbr\u003e\u003cbr\u003eThe increased volatility of modern-day trading has reduced the risk control elements of the Darvas approach, which was originally developed and applied\nto less volatile markets. The Darvas box and trailing-stop approach is designed to keep you in a long-term steady trend, since the stop-loss level remains unaltered for extended periods in the face of substantial price moves. But in the volatile markets\nof today, this kind of strategy could expose you to an unexpectedly high level of risk. To bring this classic trading style into modern markets, I made four modifications. Each modification is consistent with the underlying logic of the Darvas method.\u003cbr\u003e\u003cbr\u003eMODERN DARVAS RULES\u003cbr\u003e\u003cbr\u003eThe new rules are shown in bold:\u003cbr\u003e\u003cbr\u003e Trade is initiated by a new high for the rolling 12- or six-month period.\u003cbr\u003e\u003cbr\u003e All entry decisions are based on the high of the\nprice series.\u003cbr\u003e\u003cbr\u003e All exit decisions are based on the close of the series.\u003cbr\u003e\u003cbr\u003e Entry action is triggered by the first trade at the trigger price.\u003cbr\u003e\u003cbr\u003e Exit action is managed on the day after the trigger close.\u003cbr\u003e\u003cbr\u003e Action is triggered by the close.\u003cbr\u003e\u003cbr\u003e Stop-loss calculation uses ghost boxes where necessary to handle modern volatility.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133967888753,"sku":"\\V23\\C06\\116GUP.pdf","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_36f6d913-60bc-4a54-8fde-618fc5f0ceeb.jpg?v=1739659339"},{"product_id":"stcov231taed","title":"Stocks \u0026 Commodities V. 23:7 (16-24): The Tape-Reading Edge by Thomas Carr, Ph.D.","description":"Stocks \u0026amp; Commodities V. 23:7 (16-24): The Tape-Reading Edge by Thomas Carr, Ph.D.\u003cbr\u003e\u003cbr\u003eTape-reading skills are a product of your intuition. Heres how you can sharpen your intuitive power into a tremendous profit-making talent.\u003cbr\u003e\u003cbr\u003eFirst, it must be said that tape-reading is\na kind of luxury, at least these days. It\nis not necessary to tape-read to be a\nsuccessful trader; tape-reading gives you an extra edge an edge that takes your trading to the next stage of excellence. Sound tapereading skills are essential for getting the best possible entry, holding onto winning trades beyond your profit target, and are sometimes responsible for keeping you out of bad trades altogether.\u003cbr\u003e\u003cbr\u003eWHAT IS TAPE-READING?\u003cbr\u003e\u003cbr\u003eTape-reading gets its name from the old ticker tape\nmachine that used to feed stock quotes to brokers\nbefore the advent of computers and LED displays. A\nsmall, glass-enclosed printing press would spit out a\ncontinuous paper ribbon, on which would be typed\norder size and price quotes as trades were executed.\nFortunately, we no longer have to crowd around\nthe ticker waiting anxiously for the tape to give us a\nquote on the stock we are interested in. We simply\ntype the symbol into our computerized, electronic\ncharting system and we are given a trade-by-trade,\nstreaming tape of the action in real time.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133967921521,"sku":"\\V23\\C07\\136CARR.pdf","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_4572ddc7-c0e5-409d-85c1-f6fb101bffe6.jpg?v=1739659341"},{"product_id":"stcov232baan","title":"Stocks \u0026 Commodities V. 23:3 (22-26): Backtesting And Edgetesting by Damir Wallener","description":"Stocks \u0026amp; Commodities V. 23:3 (22-26): Backtesting And Edgetesting by Damir Wallener\u003cbr\u003e\u003cbr\u003eAnybody with a computer and an Internet connection\ncan evaluate trading strategies. But how do you judge\nthe validity and significance of the results? Heres a\nlook at some of the pitfalls awaiting the unwary.\u003cbr\u003e\u003cbr\u003eThe age of program trading for the masses has arrived. Backtesting the evaluation of strategies against reams of historical data is easy to do, but useful, trustworthy advice on the validity and significance of\nbacktesting results remains in relatively short supply.\nIn this article I will walk you through the design process of a simple strategy, and leave it up to you to determine validity and significance.\u003cbr\u003e\u003cbr\u003eTHE FIRST STEP\u003cbr\u003e\u003cbr\u003eMost backtesters begin with whole-sample testing. Applying a strategy against a large, contiguous mass\nof data can give you a quick estimation of what has\nworked in the past. For example, a simple moving average crossover signal tested against 80 years of\nhistorical Dow Jones Industrial Average (DJIA) data\nshows a 5\/8 crossover on daily bars produced a loss\nof 11,000 points. There is no reason to stop there:\nBecause of the availability of data, it is possible to\ntest several parameters. In Figure 1, you see the results of expanding the test to cover all possible moving average crossover combinations between\nthree and 12.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133967987057,"sku":"\\V23\\C03\\054WAL.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_c1503175-507b-48dd-9148-d0b116fede14.jpg?v=1739659347"},{"product_id":"stcov234exyo4","title":"Stocks \u0026 Commodities V. 23:12 (42): Explore Your Options by Tom Gentile","description":"Stocks \u0026amp; Commodities V. 23:12 (42): Explore Your Options by Tom Gentile\u003cbr\u003e\u003cbr\u003eGot a question about options? Tom Gentile is the chief options strategist at Optionetics (www.optionetics.com), an education and publishing firm dedicated to teaching investors how to minimize their risk while maximizing profits using options. To submit a question, post it to our website at http:\/\/Message-Boards.Traders.com. Answers will be posted there, and selected questions will appear in a future issue of S\u0026amp;C.\u003cbr\u003e\u003cbr\u003eOPTIONS AFTER BANKRUPTCY\u003cbr\u003e\u003cbr\u003eHow does the bankruptcy of a company affect its options contract? Do all the options expire worthless?\nWhen a company files for bankruptcy protection, some options may expire worthless, but not always. After the\ncompany files, the first step is delisting; stock is often delisted from the exchanges within days, if not the same day of the announcement. In rare instances, it takes longer. For example, Delta Airlines (DAL) filed for bankruptcy in mid-September, but shares continued trading on the New York Stock Exchange (NYSE) for several weeks. The NYSE recently announced it would delist the stock on October 13, 2005.\u003cbr\u003e\u003cbr\u003eOnce the shares are removed from the exchanges, the stock begin trading on the OTC Bulletin Board, or pink\nsheets. The stock symbol changes, but shares continue trading and can be bought and sold. At that time, however, the options are affected. To be specific,\nonce the stock is delisted, options can be closed out, but no new positions can be opened. However, it is possible to institute closing transactions. If, for example, an investor owns puts, that position can be closed out even after the stock is delisted.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133968019825,"sku":"\\V23\\C12\\250EYO.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_7548db86-ae42-4365-8e41-d142be958819.jpg?v=1739659350"},{"product_id":"stcov234qaby","title":"Stocks \u0026 Commodities V. 23:5 (43): Q\u0026A by Don Bright","description":"Stocks \u0026amp; Commodities V. 23:5 (43): Q\u0026amp;A by Don Bright\u003cbr\u003e\u003cbr\u003eSINCE YOU ASKED\u003cbr\u003e\u003cbr\u003eConfused about some aspect of trading? Professional trader Don Bright of Bright Trading (www.stocktrading.com), an equity trading corporation, answers a few of your questions. To submit a question, post your question to our website at http:\/\/\nMessage-Boards.Traders.com. Answers will be posted there, and selected questions will appear in a future issue of S\u0026amp;C.\u003cbr\u003e\u003cbr\u003eBID\/ASK EQUATIONS\u003cbr\u003e\u003cbr\u003eQ: Is there a mathematical equation to figure out the bid\/ask price? How do computers handle that information?\u003cbr\u003e\u003cbr\u003eA: There is not really any mathematical equation, although there are automated systems. On listed stocks, there is a single place (where the specialist is) that handles all the orders. If they have\nbuyers at 30.10 and sellers at 30.20, then you will see either those prices or slightly better placed by the specialist. Over-the-counter (OTC) pricing is usually\na bit more fragmented, but can be wider or narrower, depending upon how many people are participating. With either market, the supply and demand usually determines pricing.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133968052593,"sku":"\\V23\\C05\\103QA.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_8b197f56-ac5c-410a-bef7-65e545aab3ec.jpg?v=1739659353"},{"product_id":"stcov235exyo","title":"Stocks \u0026 Commodities V. 23:6 (51): Explore Your Options by Tom Gentile","description":"Stocks \u0026amp; Commodities V. 23:6 (51): Explore Your Options by Tom Gentile\u003cbr\u003e\u003cbr\u003eGot a question about options? Tom Gentile is the chief options strategist at Optionetics (www.optionetics.com), an education and publishing firm dedicated to teaching investors how to minimize their risk while maximizing profits using options. To submit a question, post it to our website at http:\/\/Message-Boards.Traders.com. Answers will be posted there, and selected questions will appear in a future issue of S\u0026amp;C.\u003cbr\u003e\u003cbr\u003eCLOSING OUT A LOSING BEAR PUT SPREAD\u003cbr\u003e\u003cbr\u003eI set up a losing bear put spread, and the price is staying above the price of the long put side of the spread. I want to exit the trade but if I sell the long put, will I be in danger of assignment if the price drops?\u003cbr\u003e\u003cbr\u003eAs you know, the bear put spread is created with the simultaneous purchase of a (long) put with a higher strike price and the sale of a (short) put with a lower\nstrike price. The position will generate profits if the stock price falls below the strike price of the short put. If the stock is not moving lower and the trader wants\nto exit the position, the best solution is to exit the entire trade. Simply selling the long put will expose the trader to greater risk. It means that the bear put spread has been converted into a naked or uncovered short put.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133968085361,"sku":"\\V23\\C06\\122EYO.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_7fa071af-5fa8-4872-a697-ce7ddd461a69.jpg?v=1739659355"},{"product_id":"stcov232rech","title":"Stocks \u0026 Commodities V. 23:13 (20-33): Readers' Choice Awards 2005 by Technical Analysis, Inc.","description":"Stocks \u0026amp; Commodities V. 23:13 (20-33): Readers Choice Awards 2005 by Technical Analysis, Inc.\u003cbr\u003e\u003cbr\u003eWe are pleased to present the Technical Analysis of STOCKS \u0026amp; COMMODITIES magazine 2005 Readers Choice Awards (RCA). Each year, we put before our readers a ballot of products and services related to technical analysis and trading.\u003cbr\u003e\u003cbr\u003eThe following pages present the products and services you and your peers chose this year as your favorites. The Readers Choice Awards begins each year with a list of products gathered by the editors of STOCKS \u0026amp; COMMODITIES, with space for write-in votes (given that our list doesnt claim to be complete). Then, to find out what our readers find to be the most useful for their trading, we ask them to choose their favorite products or the ones they find most useful from various categories by going to our website, Traders.com, and filling out the survey there. After that, we compile the results, just in time for the Bonus Issue you hold in your hands.\u003cbr\u003e\u003cbr\u003eProducts are categorized by their primary purpose. Just because a service or product is not listed does not necessarily mean that the product does not have features germane to the category; otherwise, a number of products could be listed in numerous categories. In addition, some categories are divided by cost so that the comparisons can be made on a more level playing field.\u003cbr\u003e\u003cbr\u003eThe winners in the Readers Choice Awards are almost always the dominant players in their niche, and rightfully so. You may have special needs for your trading, however, so you should keep in mind those\nproducts that are not the big names in the category of your interest before you make your final decision. The RCA is designed to be an aid for you when you are deciding on which of the numerous products and services currently available to use for your trading and investing. With that in mind, we think youll find the Readers Choices a terrific guide to products and services that youll be interested in.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133973131633,"sku":"\\V23\\C13\/266RCA.pdf","price":5.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_178291c9-679a-45fd-a1cf-a74da2c8606a.jpg?v=1739659710"},{"product_id":"stcov232simo","title":"Stocks \u0026 Commodities V. 23:2 (22-27): Sidebar: MOMA and Excel by Stephan Bisse","description":"Stocks \u0026amp; Commodities V. 23:2 (22-27): Sidebar: MOMA and Excel by Stephan Bisse\u003cbr\u003e\u003cbr\u003eSimple moving averages are great tools for filtering out noise from time series, but all they can do is show\nwhere a time series has been. The only way that a moving average can point the way to market direction is if additional information a leading indicator for that time series is included in the calculation. One way\nof doing this is adjusting each datapoint in the lookback period by the absolute move that preceded each datapoint as a percentage of the sum of all the absolute moves in the lookback period. If the premise\nthat large moves in a given direction are harbingers of a new trend in the same direction is correct, then the\nmove-adjusted moving average (MOMA) will be a superior indicator of future market direction when compared to a simple moving average.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133973164401,"sku":"\\V23\\C02\\029SB.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_e38fa0a3-ec17-405f-8d31-05618f0f99f9.jpg?v=1739659713"},{"product_id":"stcov234inri","title":"Stocks \u0026 Commodities V. 23:4 (46-53): Interview: Richard Dennis by Art Collins","description":"Stocks \u0026amp; Commodities V. 23:4 (46-53): Interview: Richard Dennis by Art Collins\u003cbr\u003e\u003cbr\u003ePerhaps no one in the world of commodity trading has more lore attached to him\nthan the legendary Richard Dennis, the founder, along with William Eckhardt, of\nthe original Turtles and the system they established. Denniss stunningly successful\ninvolvement with mechanical systems came about when he realized that whatever\nworked for him in his trading could be reduced to and defined as a trading rule.\nToday, he pretty much eschews the public investment arena, confining himself to\nan exploration of mechanical trading ideas for personal use. A self-described\ncomputer-illiterate, he nonetheless has worked steadily with a handful of\nprogrammers for the last quarter century.\nTo separate the myth from the man, STOCKS \u0026amp; COMMODITIES contributor Art Collins\nspoke with Richard Dennis in October 2004 at Yoshis, a restaurant in Chicago.\u003cbr\u003e\u003cbr\u003eQ: Hows the current trading environment compared with your high-profile days?\u003cbr\u003e\u003cbr\u003eA: Its 10 times harder than it used to be. It should be. The markets job is to derail the systems traders. Some\nof them are going to make money, but that cant go on forever.\u003cbr\u003e\u003cbr\u003eQ: Why not?\u003cbr\u003e\u003cbr\u003eA: Because the market is changing more dramatically than it would have 15 or 20 years ago. I think thats because there are a lot more trend-followers involved\nin the market than before. Its a game where youre forever chasing your tail.\u003cbr\u003e\u003cbr\u003eQ: Anticipation doesnt have a lot of place in the mechanical trading world, does it? The adage is that systems react rather than predict, and traders should\nhave no input at all once theyre beyond a certain stage.\u003cbr\u003e\u003cbr\u003eA: Theres something to be said for the dumb bunny approach of Im just looking at numbers. Ive done my share of talking myself out of systems that would have worked for years. You pays your money and you takes your chances. But ideas help if youre thinking about what the market is likely to be like two years from now.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133973197169,"sku":"\\V23\\C04\\085INT.pdf","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_40d71408-8925-4a13-acde-cdd128e6001b.jpg?v=1739659716"},{"product_id":"stcov231leto11","title":"Stocks \u0026 Commodities V. 23:12 (10-13): Letters To S\u0026C by Technical Analysis, Inc.","description":"Stocks \u0026amp; Commodities V. 23:12 (10-13): Letters To S\u0026amp;C by Technical Analysis, Inc.\u003cbr\u003e\u003cbr\u003eThe editors of S\u0026amp;C invite readers to submit their opinions and information on subjects relating to technical analysis and this magazine. This column is our means of communication with our readers. Is there something you would like to know more (or less) about? Tell us about it. Without a source of new ideas and subjects coming from our readers, this magazine\nwould not exist.\u003cbr\u003e\u003cbr\u003eTREND-FOLLOWING TECHNIQUES FOR LONG-TERM INVESTING\u003cbr\u003e\u003cbr\u003eEditor,\u003cbr\u003e\u003cbr\u003eMost articles I have read in your magazine deal with\nshort-term trading. Do you have any articles about\ntrend following for longer-term stock trades? For example, I think Richard Donchian created the 20-day\nchannel technique.\u003cbr\u003e\u003cbr\u003eED PAGE\nvia email\u003cbr\u003e\u003cbr\u003eYou are correct in that most of our articles focus on short-term trading. However, we do from time to time include articles on long-term trading. In fact, we have published articles specifically on the Donchian channel. I would recommend that you search our archives at our website, www.Traders.com. In addition,\nour online publication Working Money at Working-Money.com includes more articles on longer-term trading and investing. It might be worth your while to browse those articles.Editor","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133974704497,"sku":"\\V23\\C12\\244LET.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_fbb9fe15-6195-4a1a-9356-80c64c608d32.jpg?v=1739659829"},{"product_id":"stcov231leto7","title":"Stocks \u0026 Commodities V. 23:8 (10-13): Letters To S\u0026C by Technical Analysis, Inc.","description":"Stocks \u0026amp; Commodities V. 23:8 (10-13): Letters To S\u0026amp;C by Technical Analysis, Inc.\u003cbr\u003e\u003cbr\u003eThe editors of S\u0026amp;C invite readers to submit their opinions and information on subjects relating to technical analysis and this magazine. This column is our means of communication with our readers. Is there something you would like to know more (or less) about? Tell us about it. Without a source of new ideas and subjects coming from our readers, this magazine\nwould not exist.\u003cbr\u003e\u003cbr\u003eSWING TRADING\u003cbr\u003e\u003cbr\u003eEditor,\u003cbr\u003e\u003cbr\u003eAfter trying VectorVest, TC2000, MetaStock, and other programs, I cant seem to win in swing trading options. I hear AIQ is good, but what is the best software for swing trading? Or am I kidding myself with software? Should I be using a top-of-the-line advisory?\u003cbr\u003e\u003cbr\u003eKEN DAVIS\nvia email\u003cbr\u003e\u003cbr\u003eThe first thing you need to do is spend some time coming up with a strategy that works for you. We have published several articles in the past on swing trading. You may even find code for a swing-trading strategy in our Traders Tips section at our website, www.Traders.com. After you find a strategy, then you\ncan think about finding software to implement it, since youll know better at that point what features you need. If you have already done that without success, then you may want to think about finding a trading mentor who has succeeded in swing trading.Editor","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133974737265,"sku":"\\V23\\C08\\155LET.pdf","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_8d320ee3-6d9c-4ecf-9643-ec40598bd059.jpg?v=1739659832"},{"product_id":"stcov23795tr","title":"Stocks \u0026 Commodities V. 23:11 (75-83, 95): Traders' Tips by Technical Analysis, Inc.","description":"Stocks \u0026amp; Commodities V. 23:11 (75-83, 95): Traders Tips by Technical Analysis, Inc.\u003cbr\u003e\u003cbr\u003eHere is this months selection of Traders Tips, contributed by various developers of technical analysis software, all to help readers more easily implement some of the strategies presented in this issue.\u003cbr\u003e\u003cbr\u003eIn his article, Improve Your Trading System With Speed, Gomu Vetrivel presents an indicator called speed. He defines speed as the absolute value of the difference between two closing prices. Vetrivel presents the results of tests he conducted to attempt to determine whether speed can be used to improve the performance of a system, the entries of which are\nbased on moving average crossovers.\u003cbr\u003e\u003cbr\u003eIn the first test presented by Vetrivel, every crossover\nsignal is traded. In the second, only crossovers with increasing speed are taken. In the third test, only crossovers with decreasing speed are taken. Vetrivels article already contains code written for TradeStation 2000i. In addition, Traders' Tips provides code for TradeStation, Wealth-Lab, AmiBroker, eSignal, NeueoShell Trader, Investor\/RT, NeoTicker, TradingSolutions, MetaStock, TechniFilter Plus, BioComp, and Financial Data Calculator.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133974770033,"sku":"\\V23\\C11\\237TIPS.pdf","price":4.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_f1796e43-5f8f-482d-a4e2-f33518704a9b.jpg?v=1739659835"}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/collections\/volume-23-2005-18.gif?v=1739677664","url":"https:\/\/shop.traders.com\/collections\/volume2320051.oembed","provider":"Stocks \u0026 Commodities","version":"1.0","type":"link"}