Trading Australian Futures - Stuart Moore & Chris Jasch

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stan

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Post Number: 147
Registered: 10-2002

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Tuesday, February 24, 2004 - 05:35 pm:

The local library had
Trading Australian Futures by
Stuart Moore & Chris Jasch
Written in 1995.

Stuart Moore is a teacher/speaker and Chris Jasch is a mathematician / psychologist.

The index starts with futures related information and soon beefs up into topics that can be used in any market.

After briefly discussing FA vs. TA, the authors rarely mention futures contracts and move into
Charting
Trends
Support & Resistance
Channel Trading
Chart Patterns
Moving Averages
Oscillators
Other Tools-Fib, Bollinger, Put/Call Ratios
A good chapter on options for the novice
Putting a Trading Plan Together
Psychology of Trading (very good chapter)
Behaviour Modification

There was a palatable description of Technical Analysis;

"Technical Analysis is the study of the reactions of investors to fundamental economic factors and the changes that occur as a consequence. This is achieved by charting price movements that are a reflection of the reaction of the market to various events.

These may then be compared to price movements that occurred following similar events in the past. Assumptions may then be drawn as to the future outcome

The market action examined is price action, volume and open interest. The overriding premise is that history repeats itself, that what happened in the past will occur again in the future. Examination of past data and events confirms this but the timing and extent may vary. These variations are catered for and captured within the net of the trading plan."

"Nevertheless, fundamental analysis is important and some reference works are listed in in the suggested reading section at the end of this book"

The book was constructed well and easily read. It encapsulates all the components of setting up a trading plan, though exits and money management should be reviewed elsewhere.

The Epilogue says;
"The motivation behind this book is that it may prove to be a catalyst that generates a substantial core of traders-traders who will choose to trade foreign markets and whose activities will contribute positively to the wealth of the country.

Thanks,
Stan