Product Description

This proven system will help you profit in any market environment while trading any financial instrument.

Whether you're a seasoned professional trader or newcomer to the world of investing, you must develop a defined methodology and consistently apply it to control risk, preserve capital, and harvest profits. Now, The TRENDadvisor Guide to Breakthrough Profits outlines an integrated approach to market analysis and a sound trading strategy, known as the TRENDadvisor Diamond Methodology, this book will assist traders and investors locate low-risk/high-reward trading opportunities.

Product Details

• Amazon Sales Rank: #745152 in Books
• Published on: 2006-03-24
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 198 pages

Review
" 'Years ago Fortune magazine ran a powerful campaign about its media power under the slogan, ‘There is nothing more powerful than a trend.’ In reality there is something more powerful than a trend, and that is being able to perceive the beginnings and ends of trends.' That is the succinct and lucid opening to chapter one of Chuck Dukas’ and T. Parker Gallagher’s new book, The TRENDadvisor Guide to Breakthrough Profits, and I doubt anyone could say it better. ... This book is perfect for those interested in making the trend their friend." -- Elizabeth Thompson (SFO Magazine/May 2006)

From the Inside Flap
As a trader or investor, there are a variety of ways to make money in the financial markets. But if you really want to make the most of your time in the markets, look no further than The TRENDadvisor Guide to Breakthrough Profits.

Based on their many years of experience in teaching, coaching, and mentoring hundreds of traders and investors, author Chuck Dukas (President of TRENDadvisor.com) along with T. Parker Gallagher know what it takes to succeed in today's dynamic markets. And now, with The TRENDadvisor Guide to Breakthrough Profits, they outline an integrated approach to market analysis and a sound trading strategy, known as the TRENDadvisor Diamond Methodology, that will allow you to make serious money in any market—bull or bear.

Filled with in-depth insight and expert advice, this comprehensive guide will help you develop a methodology to determine whether a stock, mutual fund, commodity, or any other financial instrument is something you should buy or sell—either as a trade or as an investment. To do this, you'll become familiar with how the market cycles through its various stages; how you can identify what phase the market is in—recovery, accumulation, bullish on the buy side, warning, distribution, bearish on the sell side; and how to trade these various market phases.

To complement this information, Dukas provides a technical toolkit to help you analyze both uptrends and downtrends as well as guide you in making razor-sharp entry and exit decisions. His wide-ranging and thorough explanations of how technical indicators are calculated, how they behave in different market conditions, and how to use them when trading in these different conditions offer both perspective and guidance to the professional and less experienced trader and investor.

Rounding out this discussion, Dukas moves away from technical indicators and setups to show you how to develop a trading or investing plan. Along the way, Dukas reveals how to integrate your analysis into that plan and examines how a well-developed plan can help you stay disciplined—even under the most difficult circumstances.

Whether you're a seasoned professional trader or newcomer to the world of investing, you must develop a defined methodology and consistently apply it to control risk, preserve capital, and harvest profits. The TRENDadvisor Guide to Breakthrough Profits can show you how to do this and much more as you make your way through today's markets.

From the Back Cover
Praise for The TRENDadvisor Guide to Breakthrough Profits

"And it is authors like Chuck Dukas who continue to raise the bar for all of us when he writes that technical indicators will act differently during the six stages of his Diamond. He wants his readers to understand that we should all approach the market with a trading plan and the discipline to carry out that plan. Enjoy Chuck's book, I certainly did."
—From the Foreword by Ralph Acampora, Managing Director of Research, Knight Equity Group

"Identifying a market's trend, defining a process to time entries and exits, and applying a prudent money management approach are all essential components to consistent and long-term trading and investment success and profitability. With clarity and detail, Chuck Dukas presents a much needed prescription to introduce these important elements into one's trading regimen. This book is essential reading for anyone who operates in the markets and intends to be a survivor."
—Tom DeMark, President, Market Studies, Inc.

"Chuck Dukas has developed an interesting life-cycle framework for equity analysis rooted in traditional technical analysis concepts that harkens back to the pioneering work of Stan Weinstein. Model builders will no doubt be anxious to test these ideas in the crucible of the markets."
—John Bollinger, CFA, CMT, www.BollingerBands.com

"This book, The TRENDadvisor Guide to Breakthrough Profits, not only is a valid comprehensive guide to exploiting profit opportunities in modern equity markets, but also has the virtue of being written by a seasoned professional with a real time record of doing just that. This is no 'pie in the sky' wanna-be trader's hope chest, but a well thought-out, clear exposition of how equity markets actually work, and how to make money from them."
—Mike Epstein, Visiting Scholar, MIT Laboratory for Financial Engineering, and a member of the American Stock Exchange Board of Governors

Customer Reviews

10 minute book, no revelations
I'm a day trader and trade stocks, ETF's, and options. I always looking for new ideas to help me screen for "buy candidates." I thought this book might have some new twist on technical indicators. When I opened it up, I was disappointed. I literally read the book, cover to cover in 10 minutes. I went though it quickly because the material was so simple. Basically the theory in the book is as follows: 6 phases of a stock. Recovery Phase (50SMA < 200SMA, Close > 50SMA), Accumulation phase (Close > 50SMA, Close > 200SMA, 50SMA < 200 SMA),etc.... same simple concept for the other four phases. Then for the grand finale,the last chapter "Putting it all together"...drum roll.... Was a review of the previous six chapters.. happy holidays.

Apparently simple ... yet very powerful ideas
This is a book that explains that markets move by phases and how markets can be traded depending on the phase they are.

The books starts showing how to setup a template to analyze a stock. This is done by means of some very well known oscillators. This could appear very simple yet the author explains how this setup translates into market phases and how these oscillators behave during each phase.

Taking these concepts into account, the author complements the overall strategy to follow by applying money management rules and even shows examples of how all of this is done.

The book contains many charts and follows a certain rythm. All of this is done in order to achieve the objective of "training the eye" in order to detect how to apply all of this whenever trading for real.

I really like the strategy of simplifying the different scenarios and timeframes that can be found and going step by step in order to decide what to do next.

I have read many trading books. I highly recommend this book for both the novice as well as the advanced trader and I think this one of the best trading books that is that is available.

It Ain't Sexy, But...
It ain't sexy and, fundamentally, it's not especially new. But it is profitable (see below). The words "neural network," "doji" and "impulse wave" are nowhere to be found. But the words "trend," "accumulation," and "distribution" are (a lot). So what do you want to do? Make money or pretend that those fretful, indecisive, and painful hours staring at the screen are just as much fun. If it's the former and if you're willing to abandon your search for the "next best thing" (you know, the one that's finally going to turn it around for you) and to revisit some time-honored market wisdom presented in a freshly drawn framework, I encourage you to pick up this book.
The title, TRENDadvisor Guide to Breakthrough Profits, succinctly gives away the message inside: the trend is indeed your friend. Why read beyond that? Because Dukas presents this essential market truth, first among equals, as the organizing principle around which he creates an elegantly simple, though no less comprehensive or powerful for being so, model of market behavior. Based on the recurring, and so predictable, patterns of human behavior around issues of risk and money, this model is universal and enduring. Analyzed with a just few indicators, robust in their simplicity, the model spits out clearly defined trade parameters: entry points, protective stop levels and profit targets. Failures are quickly identified. Probabilities are left to unfold. Discretion is unwelcomed and taken at one's peril.
The heart of the model is an understanding of market behavior as a series of six recurring stages, each with a distinct pattern of price activity. These stages continually repeat and form the familiar rising-and-falling cycles of market action (though Dukas has curiously chosen to represent it as a six-segmented diamond). Each stage is given its own chapter in the book. Each one's characteristic price pattern is thoroughly analyzed according to the relative forces of supply and demand being evidenced. Pattern evolution is explained. Finally trading rules, both long and short, where appropriate are suggested. Chart examples are numerous and varied across markets and timeframes.
Basic money management concepts are integrated into the individual discussions of trading each market stage. Along with a brief review of trading plans, money management is also given a cursory chapter of its own. The book ends with a brief review of statistical analyses of the major market indexes and Dow stocks relative to the six stages during the past one, ten and twenty years.
If you are intrigued, as I was, with the power and elegance of a simple concept made comprehensive in its extension, not in more complexity, you might check out Dukas' web site. There, under Performance, he publishes the returns of his system since 2000. They are impressive. Although most of the site is proprietary, from what can be deduced as a non-member these results, for example 36% in the first quarter of this year, are derived from trades setup identically to those he describes in his book.
I'm sure there are those sufficiently enamored of novelty and fond of complication who will remain unconvinced. And some of them are no doubt good and profitable traders; there are many ways to make money in the markets. Some, perhaps, but only a few I think. It is from the others that those who have the discipline to follow a simple plan, grounded in the truths of human behavior, will fatten their wallets.