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182 Pages·2003·1.86 MB·English

20 Golden Rules
for Traders
Trading Masters
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WIZARDS
Home HIT AND RUN THE TECHTRADER
Jeff Cooper Harry Boxer
Daily
Momentum & the Swing Reading The Signals
Courses
Jeff Cooper has been a Harry Boxer has more
Tactics professional trader since than 30 yrs investment
Resources 1982 and is the author of and technical analysis
three best selling books: Hit experience. He is a
and Run I, Hit and Run II, consultant to many Wall
POWERFUL
and The 5 Day Momentum Street hedge funds and
ONLINE
YOUR DAILY Method. Cooper's financial large institutional traders.
TRADING
MARKET
markets experience started Harry currently authors
COURSE
GUIDE
in 1981 at Drexel Burnham, daily reports at his From
HARD RIGHT EDGE
working for his father, a financial website The
private hedge fund Technical Trader.
manager. Cooper has been

a trader and author ever
Featuring Countertrend Day Trading
since, working out of his
Using the right tools will
home in Malibu, California.
improve your returns in a
tough market.
Interactive Identifying Market Your
The Fantasy Island Reversal
Trading Extremes Original Guide
The reversal of a strongly
Picks to
trending stock can leave Learn how to interpret
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SCANS, IDEAS & managers shipwrecked. pinpoint intermediate Short-Term Trading
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Identifying An Explosive Bias reversals and snapback
Highly Effective
Check out rallies.
Before The Fact Market Strategies
MORNING Base Patterns and
Volatility studies can offer clues
TRADER 3-D Charting Techniques
Charts with long and stable
as to the likelihood of an
NOW! bases will yield the best Get
imminent explosion in price.
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Pattern Recognition
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Reviewing The Art Of Short to turning profits is how you
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Learn the criteria that lead to

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Trailing Stop Techniques
Vadym Graifer
Most investors and traders
spend far too much time Master of the Tape
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research has been practices.
referenced in several books
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Tape Reading
Advanced Trading
Like no other method, tape
Strategies and Beginners reading deals with reality
Guide to Computerized itself, allowing traders to see
Trading. market moving forces in
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Mental State
Introduction to Volatility
If you want to be a trader, you
Learn about how to recognize
must trade, you must change
and measure changing market
yourself from fearing to take a
conditions with this informative
trade to cold-blooded
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readiness to react on a valid
Moving Averages I: The Ins
signal.
and Outs Of Personal Accountability
Look at the calculation and The ego is a big part of a
comparison of simple, trader's demise in the long
exponential and weighted run. When ego leads decision
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Moving Averages II: possibility for consistency.
Characteristics and General

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Learn practical applications and
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MASTER OF TRENDS Chris began market
Chris Terry analysis and global
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Analysis
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confirm each others trends.
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MASTER OF LEVELS
Rick LaPoint
Joe DiNapoli
Common Sense Trading
Futures, Stocks and Fibonacci
Rick LaPoint is founder of
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creator of the unique
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See how the Crash of 2000 had
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candlestick techniques to
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OTHER VOICES
Steve Sando
Rules of The Inner Game A Trader for All Seasons
Steve is a highly successful I discovered quickly that the
graduate of HRE's brokers and firm's traders had
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and proceeded in the quest
course. He develops
for market knowledge alone.
software applications and
The Holy Grail
trades daily from his home
As the community of traders
in central California.
has evolved, the "Grail buy"
Sando's market analogies has been nicknamed "the
help all traders understand dip", implying a place where a
the conflicting forces at buy may be set up. The "Grail
sale" has been nicknamed
work each market day.
"the ding", implying a place

where a short sale may be
Predator or Prey? set up.
What kind of fish are you in the Japanese Candlesticks
market sea? If you're not sure, We use Japanese
get ready to be eaten. candlesticks in conjunction
5 Phases of a Trade with classic Western technical
Break your trading into five analysis. With moving
important steps and get on the averages in trending markets,
road to success. such as Raschke's Holy Grail
set-up, in areas of support

and resistance and on tests
of tops and bottoms, such as
the Trader Vic 1-2-3 set-ups.
Dojis and Shooting Stars
A doji represents indecision
and forms part of several
important formations: Doji
Star, Morning Doji Star,
Evening Doji Star,
Abandoned Baby and Tri
Star.

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© 2003 Brooke Publishers, Inc.
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Comments: [email protected]
20 Golden Rules
for Traders
Trading Masters
NEW TO TRADING & TECHNICAL ANALYSIS?
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THE FANTASY ISLAND REVERSAL
WIZARDS By Jeff Cooper
TUTORIAL
Home The island reversal is a powerful technical tool. However, the classic island reversal,
where a stock gaps up to a new relative high but the subsequent session gaps down leaving
Daily
a high below the prior days low, occurs infrequently. Even given decimalization, the pattern
Courses is likely to remain somewhat rare.
Tactics
Hence, I created the Gilligan's Island in order to capture reversals in the spirit of the one-
Resources
day island exhaustion pattern. The Gilligan's Island is explained in my first book, Hit and Run
Trading. Essentially, it occurs when a stock gaps up to a 60 day high but closes poorly (in
the bottom 25% of the range). Gilligan buy signals are a mirror image.

YOUR DAILY
Now let me introduce you to Gilligan's cousin, Fantasy Island. A Fantasy Island sell
MARKET
signal occurs when a stock laps or jumps up above the prior days close but below the prior
GUIDE
days high, scores a new 60 day high on the day, but sells off, closing down on the day in the
bottom 25% of the range. (For buys, simply reverse the rules). Due to decimalization, the lap
required to generate Fantasy Island should be meaningful, not pennies. I typically want to
see at least a 50-cent lap.
Featuring There are reversals and then there are reversals. Many tops (and bottoms) are Gilligans
or Fantasy Islands, but not all Gilligans or Fantasy Islands are tops (or bottoms). I am going
to show you how I determine which signals are meaningful. Sometimes very meaningful. The
important thing to remember is that stocks turn on a dime; most trades cannot. The sudden
Interactive reversal of strongly trending stocks often leaves investors stranded and money managers
Trading shipwrecked. Hence, then name Gilligan's Island. Its sometimes less conspicuous relative,
Picks the Fantasy Island, can leave market participants equally marooned.
PICKS, CHARTS,
SCANS, IDEAS &
On December 6th, 2001, Imclone Systems (IMCL), one of the leading biotech stocks,
PROFITS
lapped open and ran up to score a new 60-day high only to reverse by the end of the day. A
Check out
look at the daily chart shows that IMCL closed at the low of the day and substantially below
MORNING
the prior days close after lapping up and hitting a new 60-day high, setting up the Fantasy
TRADER
Island sell. Of course, as always, follow-through is required to confirm a signal. Bearishly, the
NOW!
reversal was also a Lightning RodTM (LROD) as well as a Soup NaziTM. The Soup Nazi, as
and in "No soup for you!" (from the character on the Seinfeld show) occurs when a stock makes
EVERY MARKET a new 14-day high, pulls back and fails on a test of that high. Keep in mind that the previous
DAY!
14 day high to a test failure must have occurred at least 4 sessions earlier in order to avoid
stepping in front of an obvious continuation move.

When multiple signals occur, there is a greater than average likelihood of the signal
being successful. In this case, we had three reversal signals: A Fantasy Island, a Soup
Nazi, and an LROD. When multiple signals occur, there is the likelihood for a larger than
average move to play out. When a signal (or multiple signals) occurs at a natural inflection
point in time and price, often a major trend develops.
Let's explore what I mean by a natural inflection point in time and price. W.D. Gann,
the legendary trader and market conceptualist, believe that all tops and bottoms of
consequence were mathematically related, or vibrated off, each other. He believed that a
cause and effect relationship existed between tops and bottom of various durations much in
the same way a rock thrown into a pond corresponds to its counterpart ripples. One of the
tools Gann used to observe the vibrations between tops and bottoms is the Square of Nine
chart or what I refer to as the Wheel of Price and Time. The square of the first odd number,
3, equals nine and completes the first square, or cycle, in the Square of Nine chart. Hence,
the name Square of Nine chart. Since the number 1 squared equals itself, it is not counted.
The Square of Nine is essentially a grid of numbers starting with 1 in the center that spirals
out in clockwise motion forming a vortex, or a 9, similar to the Milky Way or a nautilus shell.
As I mentioned, the first cycle, circle, or square around the center is complete with the
number nine. Once you find the 'zero' point from which stocks' ripples emanate, the
geometry for potential highs and lows in the future can be determined. It is important to keep
in mind, however, that one must not only use the all-time highs and lows on the yearly chart,
but also the closing highs and lows on the daily, weekly, and monthly chart when projecting
price cycles.

A look at the weekly chart of IMCL shows an important low in March of 2001 at 23.87.
23 is on the important cardinal cross of the Square of Nine chart (the north to south and east
to west vectors). The weekly chart shows that one cycle up, or 360 degrees plus 90 degrees
(for a total of 450 degrees) equals 53 on the same vector as March 21st and marked the
closing weekly high in June of 2001. June is 3 months or 90 degrees of the year from March.
Ninety-degree movements in time and price are a natural area to look for support,
resistance, or in some cases, possible acceleration. It is the behavior after 90 degrees of
growth that must be observed. As you can see, opposition the June time frame or 180
degrees in time from June, in December 2001 marked the termination of the advance from
the March 2001 low. A period that consumed nine months (270 degrees of the year - 2 plus
7 equals 9).
Notice that, bullishly, IMCL initially rallied past 46, which represented the first cycle of
360 degrees from low. That suggested that after a pullback, a further advance might be
expected. The initial 46 resistance pretty much contained the nine-week pullback.
Interestingly, for that nine-week period, IMCL never closed below 46 on the weekly closing
chart by more than a point and change. On those occasions, the closes were as follows:
45.99 on the week ending June 22, 2001. 45.50 on the week ending July 13, 2001. 45.81 on