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The Way to Trade: Discover Your Successful Trading Personality by John Piper

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Chapter 27: LOW RISK TRADING OPPORTUNITIES ON U.S. AND U.K. MARKETS

The purpose of this section is to set out some of the principles explained in the book against actual market action. I have tried not to be too specific in choosing charts as I think it is more important to look at “typical” market action, not that carefully chosen to try and prove a particular point. Too many books cherry pick charts to “prove” something which is in fact highly questionable. Everything happens sometimes in the markets, but illustrating the rarity is not a useful process. In similar vein if we take 100 analysts (or gurus) then statistically one, or more, of them is going to be right at any one time. This is the “lucky monkey syndrome.” It is curious that an ...

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