Editorial Reviews
Book Description
An in-depth look at the trading system that anyone can use The Logical Trader presents a highly effective, yet simple trading methodology that any trader anywhere can use to trade almost anything. The "ACD Method" developed and refined by Mark Fisher after many years of successful trading, provides price points at which to buy and sell as determined by the opening range of virtually any stock or commodity. This comprehensive guide details a widely used system that is profitably implemented by many computer and floor traders at major New York exchanges. The author's highly accessible teaching style provides readers of The Logical Trader with a full examination of the theory behind the ACD Method and the examples and real-world trading stories involving it. Mark B. Fisher (New York, NY), an independent trader, is founder of MBF Clearing Corp., the largest clearing firm on the NYMEX. Founded in 1988, MBF Clearing has grown from handling under one percent of the volume on the NYMEX to nearly twenty percent of the trades today. A 1982 summa cum laude graduate from the Wharton School of Business, University of Pennsylvania, Fisher also received his master's degree in finance and accounting from Wharton. New technology and the advent of around the clock trading have opened the floodgates to both foreign and domestic markets. Traders need the wisdom of industry veterans and the vision of innovators in today's volatile financial marketplace. The Wiley Trading series features books by traders who have survived the market's ever changing temperament and have prospered-some by reinventing systems, others by getting back to basics. Whether a novice trader, professional or somewhere in-between, these books will provide the advice and strategies needed to prosper today and well into the future.
From the Inside Flap
For over fifteen years, Mark Fisher has taught thousands of people-from traders on the floors of major exchanges to individual investors in front of computer screens-how to trade stocks, commodities, even currencies, using his highly successful and innovative ACD method. Now, in The Logical Trader: Applying a Method to the Madness, Fisher will teach you how to use the ACD method to trade more effectively and profitably than ever before.
The Logical Trader opens with an in-depth discussion that outlines the basics of the ACD method-plotting particular price points in relation to the opening range-and shows you how this method allows you to gain reference points against which to trade the "A" and "C" points for entry and the "B" and "D" points as stops. You'll also learn about pivot ranges and how you can combine them with ACD to maximize position size while minimizing your risk.
Along the way, Fisher discusses some very important psychological issues-No Ego, Gaming Theory, and The Concept of "Next!"-that, when combined with ACD, can be adapted to any trading style or methodology. After a question-and-answer section designed to assess what you've learned in the first half of the book, The Logical Trader continues to show you how to use the ACD method in tandem with other trading tools by:
Step by step, The Logical Trader will show you how to use the ACD method to calculate the prices above which you'd want to be long and the prices below which you'd want to be short. Using other indicators and measures, which are layered on top of the ACD base, you'll also learn how to construct a trading plan based upon prevailing prices and market activity.
As long as the market you are trading has sufficient volatility and liquidity, you can use the ACD method for everything from ultra-short-term day trading to longer-term position trading. Whether you're a novice trader or you've been at it for years, you'll find that the ACD system has something to offer you and your style of trading. Filled with real-world stories, accessible examples, and anecdotes of traders who have successfully used this method, The Logical Trader fully explains the ACD method and shows you how to get the most out of it.
The Logical Trader
The Logical Trader,Mark B. Fisher,Wiley,0471215511,Business & Economics,Business / Economics / Finance,Business/Economics,Finance,Investments & Securities - Stocks,Speculation,Stocks,Business & Economics / Finance,Commodities
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