Long Term Secrets to Short Term Trading

Short-term trading is how most traders and would-be traders play the markets. While it offers the greatest financial payoffs, it also presents the greatest challenge, requiring constant attention and vigilance, as well as a very strict plan. Written by Larry Williams, the most recognized and popular technical analyst for the past three decades, this groundbreaking book-his first 'in almost a decade-provides the blueprint necessary for sound and profitable short-term trading, highlighting the advantages and disadvantages of what can be a fruitful, yet potentially dangerous venture.

Sharing his years of experience as a seasoned and successful trader, Williams offers his market wisdom on a wide range of topics, from chaos and speculation to volatility breakouts and profit patterns. With his expert guidance, you'll learn about such fundamentals as how the market moves, what are the three most dominant cycles, when to exit a trade, and how to hold on to winners until the end of your chosen time frame.

Along with in-depth analysis of the most effective short-term trading strategies and details on the best theory and implementation of money management, Long-Term Secrets to Short-Term Trading features Williams's winning technical indicators, as well as his thoughts on a broad range of topics. A sampling:

"A short-term trader has one objective; to catch the current trend of the market. That's it. That's all you should try to do!"
"The shorter your time frame of trading the less money you'll make."
"You will never make big money until you learn to hold on to your winners, and the longer you hold the more potential you have for profiteering. It takes time to make money regardless of the activity."
"Wealth is not amassed with just good market calls. It also requires correct money management."
"I think you need to fear the market and fear yourself... Without fear there is no respect, if you do not respect the markets and fear yourself you will become one more dead body on the long trail of commodity market casualties scattered across the land."

Filled with invaluable insight, precise rules and formulas, and helpful advice from one of today's most respected market players, this comprehensive and practical resource will serve as the basis for, if not indeed become, your short-term trading "gospel."

"This is his 'magnum opus' - MUST reading for anyone who trades futures with success as their goal."
- Jake Bernstein, The Compleat Day Trader

Larry Williams has a huge following in the trading world. His big successes have been well-documented; his books widely read. But it's been over 10 years since Larry published his last book, and the markets have changed dramatically during that period. The number of traders focused on the short-term markets has exploded - and the short-term markets are where Larry shines, with years of expertise under his belt. And while short-term trading offers the greatest financial payoff - it also presents the biggest challenges - requiring a vigilant and calculated plan.

Now, Williams breaks his silence with this new breakthrough book. It's a blueprint for sound, profitable short-term trading strategies. It's thorough, easy-to-follow and provides a fresh look at how to be a viable player in this high-stakes arena.

Larry's in-depth coverage reveals:

The three most dominant cycles
When to exit a trade
Volatility breakouts and profit patterns
How to hold on to winners until the end of your chosen time-frame
How to implement the best money management strategies
His winning technical indicators
Plus, precise rules and formulas, invaluable insights and the most effective short-term strategies he's found in over three decades of trading success.

As Larry himself says:

"The public thinks speculation is a game of know the future. They are wrong. It is a game of developing strategies with winning advantages, of getting the odds on your side, and then working those odds. Here's how I've done just that for the past 35 years."

Comprehensive and practical, Larry's latest work could well become the short-term trading "gospel" for the next decade.

TABLE OF CONTENTS:

Introduction - You Are Already a Commodity
Trader 1

Chapter 1 Making Order Out of Short-Term Chaos 9
How I Learned about the Market 9
Charting the Market 11
The Nonrandom Market 14
Understanding Market Structure is

Chapter 2 It's a Question of Price and Time 23
All You Will Ever Need to Know about Cycles 23
The Natural Cycle of Range Change 27
Where the Trend Is with You-The Second Power Play Price Pattern 36

Chapter 3 The Real Secret to Short-Term Trading 45
It Is All about Time 46

Chapter 4 Volatility Breakouts- Momentum Breakthrough 57
Simple Daily Range Breakouts 61
A Look at Volatility in the S&P 500 66
Separating Buyers from Sellers to Find Volatility Using Market Swings to Follow Volatility 71
Results 72
One Step Further 73

Chapter 5 The Theory of Short-Term Trading 75
What Is Wrong about the Information Age 78
E. H. Harriman's Rule of Making Millions 79

Chapter 6 Getting Closer to the Truth 81
The Market Is Not a Coin Flip 82
Monthly Road Maps 89

Chapter 7 Patterns to Profit 93
The Common Element 94
The Questions to Ask 99
My Smash Day Patterns 101
How to Use Smash Day Patterns 104
Specialists' Trap 108
A Vital Note-This Works on Shorter Time Frames as Well 113
Oops! This Is Not a Mistake 113
S&P Oops! Trading 119

Chapter 8 Separating the Buyers from the Sellers 121
Greatest Swing Value 123
Stock Index Trading with Greatest Swing Value 124
Some Pointers 128

Chapter 9 Short-Term Trading from a Quote Screen 131
How a Quote-Screen Trader Makes Money 132
Swing Points as Trend Change Indication 134
The Three-Bar High/Low System 136
A New Indicator for Short-Term Traders Will-Tell 138
Will-Spread and the S&P 500 Stock Index 141

Chapter 10 Special Short-Term Situations 147
Month-End Trading in Stock Indexes 147
Target Months 148
Making It Better 149
Month-End Trading in the Bond Market 149
Getting Specific 152
Better and Better 153
A Time to Sell as Well 154

Chapter 11 When to Get Out of Your Trades 157

Chapter 12 Thoughts on the Business of Speculation 159
What Speculation Is All About 160
It's about Time 161
Trade Management 161
Essential Points about Speculation 162

Chapter 13 Money Management-The Keys to the Kingdom 171
Most Traders Use a Hit-and-Miss Approach 172
Approaches to Money Management-One Is Right for You 173
The Good, the Bad, and the Ugly of Money Management 175
Looking in New Directions, Drawdown as an Asset 178
Back to Ryan and Ralph 183

Chapter 14 Thoughts from the Past 185

Chapter 15 just What Does Make the Stock Market Rally? 233
Logic 101 234
These Words Are My Bond 234
A Look at Data A and Data B 235
Let's Break Some Bad Habits 237
How to Break Bad Habits 238
Comments on Setting Stops-Dollar Loss and Unpredictability 240

Chapter 16 Closing Comments 245
It Is just Like Life 245