The Wallaby Trade: Counter-Trend Trading for Stocks, Futures, and Forex PDF
Preview The Wallaby Trade: Counter-Trend Trading for Stocks, Futures, and Forex
Copyright © 2010 Rob Booker Copy this book and give it to your friends. Print your own copies and sell them (really), and keep the money for yourself (really). Roll some weed into the pages and smoke them, if you want. I don’t give a crap. I just want you to make sure that if you give away, print, copy, distribute, sell or do anything with this book, that you list me as the author because, like, hey, I wrote the damn thing, so I get the credit. Other than that, I would like for as many people as possible to learn about the Wallaby Trade — and perhaps, one day someone will make me a coat made of wallaby leather. Please send said coat to Rob Booker, 1201 Main St., Mezzanine Level, Wheeling, WV, 26003. Oh, yeah, and I’m serious about the copying and distributing thing. Just go nuts with this. Do whatever you want. Once you read this information, it’s as much yours as it is mine. Here’s where you can download the original publication file, so you can even add to the book, and then sell it or give it away as your own. www.WallabyTrade.com P.S. I apologize in advance for all the bad language in this book. ISBN: 1460957490 ISBN-13: 978-1460957493 Also by Rob Booker Books: “Adventures of a Currency Trader” “The Currency Trader’s Handbook” eBooks: “Forex Strategy 10: Low Risk/High Return Currency Trading” To all the Wallabies who follow me on Twitter, this is for you. Thanks for reading all the crap I’ve been writing. Contents Introduction i 1 What the Hell is a Wallaby? 1 2 What Can This Wallaby Do? 21 3 Bearish Divergence 27 4 Bullish Divergence 51 5 Bending the Divergence Rules 65 6 Entering a Wallaby Trade 85 7 Wallaby Trade Sizing 113 8 Stop-Losses on the Wallaby 125 9 Profit Targets for the Wallaby 171 Appendices 195 FREE STUFF The Wallaby Indicator is free and available here: http://www.WallabyTrade.com You can follow Wallaby trades on Twitter at: http://www.twitter.com/wallabytrade INTRODUCTION WHAT YOU GET WITH THIS BOOK I’m going to share every last detail about my favorite method of short-term trading. And you can apply this method to longer-term trading, too. This book is filled with charts, step by step instructions, some stories, and quite a bit of offensive language. It shouldn’t take you long to read the book, but I hope you come back to it again and again as you learn to trade the system. I’ve had the Wallaby indicator built for a number of charting platforms, and as mentioned a few pages ago, you can have the indicator for free. In fact, as you’ll learn in chatper 1, you can even trade the method without the indicator. Most of all, I look forward to hearing from you. Please contact me on Twitter (preferred) or Facebook. This isn’t your average trading book. But after all, you’re not the average trader. And I want to hear what you do with what you’ve learned. Let’s dive in. And be warned: It does get a bit sticky at times. WHAT THE HELL IS A WALLABY? 1 2 THE WALLABY TRADE A few years ago, I was in Australia doing a seminar. During these seminars I traded live. I showed hundreds of charts and broke down every system I used into specific steps. It was the most exhausting work I’ve ever done. I met some of my best trading friends at these events — people I’m still in touch with to this day. I generally invented something new to share with each seminar group. Creating new systems was fun. I’d have something fresh and exciting to offer the traders. They knew they were getting the very best I had to give, as well as the latest information. I had more fun. They had more fun. When we had more fun, we made more money. You get the point. Well, at this Australia seminar I introduced the Wallaby Indicator, which I built in the lobby of the hotel. I can’t remember the name of the hotel chain, but the beds were crap. It felt like you were lying on Styrofoam. Nevertheless, the view of Darling Harbour from my room was awesome, and I spent a lot of time standing in front of the window, wondering what the hell time it was, and wondering why I continued to fly around the world.1 1. I am not making this up: When I flew on this trip from San Francisco to Sydney, the gate agent realized that the name on my passport did not match my airline ticket. This was because some jackhole at the U.S. Passport office could not spell, and because I had been too lazy to take the time to send it in for corrections. Because the gate agent was a little bit flirty, and because I was willing to act a little bit gay, I got on the plane, anyway, and he even upgraded me to First Class. Fancy!
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