<p>In this engaging and accessible book, Dr. Stephen Morris describes how he generated astounding growth in his trading account during the volatile and confusing post-crisis financial markets. An expert fly fisherman, Morris explains that much like trading, successful fly fishing requires both an understanding of big-picture conditions and the ability to implement tactical techniques to land that prizewinning catch. As Morris explains, both fly fishing and trading require three psychological traits: passion, patience, and persistence. <p>Drawing on the teachings of Dr. Alexander Elder, Dr. Morris reveals how he integrated elements of Elder's approach to create his own distinctive method. With the same passion he has for fishing, Morris details how he uses technical indicators to determine what he calls the "market season" and then zeroes in on individual stock patterns to make his trades. Morris also reveals unique tools, such as the Weathervane and Weather Station, which give him a sense of the market's long-term condition and provides the basis for his trading and risk management strategies. By learning to deploy various tools, interpret their messages, and understand their interaction with each other and with prices, anyone can increase their skill and success as a trader. <p>Using actual examples from his trading experience, Morris offers an in-depth explanation of his approach to the market and provides a portrait of how a successful trader develops a method and implements it in real time. In addition to the illustrative examples, tools, and rules for placing orders, the book's companion website contains material that allows a trader to hone his skills in a hands-on fashion. <p>Just as a fly fisherman is in tune with each step in his process?matching the seasonal hatch, hooking up with a strike indicator, playing the fish with drag, and reeling it in?traders must constantly adjust their trading method to accommodate ever-changing market conditions. This book will help you achieve this elusive goal and consistently land winning trades. - (WILEY)
<p>In this engaging and accessible book, Dr. Stephen Morris describes how he generated astounding growth in his trading account during the volatile and confusing post-crisis financial markets. An expert fly fisherman, Morris explains that much like trading, successful fly fishing requires both an understanding of big-picture conditions and the ability to implement tactical techniques to land that prizewinning catch. As Morris explains, both fly fishing and trading require three psychological traits: passion, patience, and persistence.</p> <p>Drawing on the teachings of Dr. Alexander Elder, Dr. Morris reveals how he integrated elements of Elder's approach to create his own distinctive method. With the same passion he has for fishing, Morris details how he uses technical indicators to determine what he calls the "market season" and then zeroes in on individual stock patterns to make his trades. Morris also reveals unique tools, such as the Weathervane and Weather Station, which give him a sense of the market's long-term condition and provides the basis for his trading and risk management strategies. By learning to deploy various tools, interpret their messages, and understand their interaction with each other and with prices, anyone can increase their skill and success as a trader.</p> <p>Using actual examples from his trading experience, Morris offers an in-depth explanation of his approach to the market and provides a portrait of how a successful trader develops a method and implements it in real time. In addition to the illustrative examples, tools, and rules for placing orders, the book's companion website contains material that allows a trader to hone his skills in a hands-on fashion.</p> <p>Just as a fly fisherman is in tune with each step in his process?matching the seasonal hatch, hooking up with a strike indicator, playing the fish with drag, and reeling it in?traders must constantly adjust their trading method to accommodate ever-changing market conditions. This book will help you achieve this elusive goal and consistently land winning trades.</p> - (WILEY)