Trends and Tripwires

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uturn

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Post Number: 365
Registered: 09-2002

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Saturday, March 01, 2003 - 12:15 pm:

Trends and Tripwires by Bill Wormald

http://www.trendsandtripwires.com/

"Discover the hidden advantage of parallel trend trading" Bill Wormald.

Hi All,

This book is the most important trading book I have ever read.

My apologies to Bill if I have misrepresented his valuable techniques and insights into the market.

As traders, the most necessary and vital information relates to turning points.
Where will the ST, MT, and LT trends retrace or reverse?
Some of the IC members have viewed these high probability turning points as a threat to their trading plans.

Back testing reveals conclusively that the market turns at these trend parallel levels.

If your trading plan / style prohibits you from trading with the market when it turns (ST, MT reversals or retracements),
why not see them as the ideal point or level to trade up or down to?

It was never my intention to challenge, alter or influence anyones trading style.

Bill's book will turbo-charge all trading styles with vital market knowledge.

From the front cover:

"Chart and Trade the Sharemarket with dominant Trend angles"

"Discover Methods of Professional Traders"

"Parallel Trends mean Dominant Angles"

"What to Buy and When"

"When to Sell and Keep Your Profit"

"How to avoid Tripwires"

Cheers,
uturn

"The market is always turning"

andrewk

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Post Number: 13
Registered: 09-2003

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Thursday, October 02, 2003 - 03:16 pm:

I will have to admit that I was a bit skeptical of this book, because of the way you have been pushing this book and Bills website (also, IMHO I think his website is extremely ugly - perhaps you can persuade him to make it look a bit more pleasant..).

But anyway, I find your system of trading very interesting, so I convinced myself to buy the book. I must say I was pleasantly surprised. It didn't necessarily tell me information that I hadn't already suspected, but it did confirm it for me. The writing style writing is very logical and straight to the point, but does not miss the big picture like many authors seem to..

Subscribe for only
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uturn

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Post Number: 546
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Thursday, October 02, 2003 - 03:45 pm:

Hi Andrew,
I didn't realise I was 'pushing it'.
Sorry if I put you off
(I have no commercial interest).

Traders who bought the Trend Tracker package from Bill when he was in Melbourne.
are reporting increased profits.

I am very passionate about trading,
and especially about discovering an edge to the market.

I'm still hearing Traders say they don't know when to exit.
The very simple solution is:
"Buy a Trend Tracker from Bill Wormald and learn how to use it (lessons on the web page)."
I'll forward this link to Bill with your web page comments.
Perhaps the home page needs to be absolutely simple,
with all the 'goodies' inside?

Cheers ..... uturn

Something:
Of all the world, there is Something that only You can Do. Only You can Be.
It is not for anyone else..... Chaitanya
_________________________________________________________________________________
The author is not a Licenced Investment Advisor. The material in this post is of a general nature and for discussion purposes only. It neither purports nor intends to be advice. Readers should
not act on the basis of any matter in this post.

andrewk

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Post Number: 14
Registered: 09-2003

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Thursday, October 02, 2003 - 04:30 pm:

Yeah, I do realize that you are simply very passionate about the system. I have to point out, however, that kids

of my generation (particularly people with logical thinking type temperaments) are increasingly turned off by advertising - but unfortunately, we perceive people who happen to be very passionate about a particular product (perhaps because they have found it to be infinitely useful...) to be a salesman - even if they are not selling anything. But fortunately I was open minded enough to get past that and was able to purchase and get a lot out of the book..

As far as the website goes, it really needs a different colour scheme, and perhaps a more friendly layout..

I would also recommend it - I agree that exit points are extremely important, certainly more important to me than entry points..

(Message edited by andrewk on October 02, 2003)

tip

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Post Number: 32
Registered: 12-2002

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Friday, October 03, 2003 - 10:19 am:

HI Uturn,

I have read the book and found it most interesting, just a question about Bill's Trendlines, can I draw them myself on any charting package or do I need a specific setup

Cheers
Tip

palace

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Post Number: 134
Registered: 06-2003

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Tuesday, October 07, 2003 - 08:12 am:

hi tip

answering in lieu of u turn

i believe as long as you use daily charts, 200 days of data approx,and a bar chart ,you are set to go ,

mick

tip

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Post Number: 33
Registered: 12-2002

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Tuesday, October 07, 2003 - 10:11 am:

Thanks for That

Cheers
Tip

12th_man

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Post Number: 6
Registered: 09-2003

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Friday, November 21, 2003 - 01:43 pm:

Hi guys,

Looking at purchasing this book as a Christmas present for myself.

Just wondering if the book is enough or do I need the screen overlay?

12th Man

spider

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Post Number: 1247
Registered: 10-2002

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Friday, November 21, 2003 - 04:06 pm:

12th man,
I would not put this book at the top of my Christmas list, it's worth a read, but only if you have read most of the others.

spider.

"Men are like ... Coffee ... The best ones are rich, warm, & can keep you up all night long."

mosaic1996

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Post Number: 458
Registered: 01-2003

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Friday, November 21, 2003 - 04:34 pm:

Hi 12th man,

I believe that you would need the overlay.

However, I haven't read the book, nor do I have an overlay.

May be worth posting the question on the ASX stocks thread as there are several people on the forum that have purchased the screen overlay. They may not monitor this section of the forum. I'm sure that you would be forgiven for posting off topic.

Cheers,
Mosaic

myklan

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Post Number: 56
Registered: 01-2003

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Friday, November 21, 2003 - 06:55 pm:

The book only gives you the theory, without the overlays you will find it very hard to put any of the ideas into practise.

In this case you have to buy both.
IMHO
myklan

macka

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Post Number: 19
Registered: 10-2003

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Friday, November 21, 2003 - 11:42 pm:

12th man

The overlay is what it is all about.

The book without the overlay is like the thought without a special person.

I use the overlay consistently and it serves my short term CFD trading plan very well. And I might add that you can get by with the overlay and access to the web site lessons without the book but then again why compromise. If your budget only allows one go for the overlay and the web site lessons but in my opinion the cost of the total is money well spent.

Macka

12th_man

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Post Number: 7
Registered: 09-2003

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Tuesday, November 25, 2003 - 10:13 am:

Thankyou Spider, Mosaic, Myklan and Macka for your replies and advice.

Spider: I will read your book review section to see what other books may suit me.

Thanks again all.

regards,
12th Man

mosaic1996

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Post Number: 473
Registered: 01-2003

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Tuesday, November 25, 2003 - 11:30 am:

Hi 12th man,

I am currently reading (50% complete) the book and to date I see no relationship to the overlay. Dominant angle trends are drawn using parallel lines whereas the TT overlay (trend) lines converge.

There is also a TT overlay plus a CD of examples plus introductory lessons for $60 which may be a better buy.

Probably best to get the low down from Bill Wormald on the content, pros and cons of each package.

Cheers,
Mosaic

shawky

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Post Number: 75
Registered: 11-2003

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Thursday, December 18, 2003 - 12:55 pm:

Just spotted this post today via of all things the UK forum on TMO!!
I don't know why I missed this post in Nov. I am reading Trends and Tripwires now, as Mrs Shawky found it at the library 2 weeks ago.

I was going to ask Colin if it would be possible to add diagonal grid lines to IC. Tailored (by the user) for each stock. This would be a simple way of assisting in identifying dominant angles on any chart. Once I finish reading the book I'll think about the application more seriously.

Now, that I can see you have all praised the book, I am giving it MUCH more attention. More tools for the war chest.

regards
Shawky

P.S. Colin, were you aware that www.trendsandtripwires.com has a link to this forum?

shawky

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Post Number: 76
Registered: 11-2003

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Thursday, December 18, 2003 - 01:20 pm:

Macka
Do you use the overlays on IC or are you using a different charting package? Are you a subscriber to TT?

I am confused about the parallel and not so parallel lines. The demo on Bill's website appears to show the conventional trend rather than the dominant trends. I thought the idea was to view the current trending pattern against the dominant trends for the stock, hence the need for the dominant trend lines (or chart grid pattern) as a back drop on the chart?

I had better finish reading this book before Elder and Weinstein drop in for Christmas.

regards
Shawky

ittrader

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Post Number: 16
Registered: 01-2003

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Wednesday, April 27, 2005 - 10:56 pm:

Hi All

Shawky, after given that this post was 18 months back, I presume youve read the book by now.

Do you think its worthwhile and automateable, if so Id be interested to see if I could back test it over a range of markets (AUS, US UK) to see if it could be an effective mechanised system.

let me know what you think

IT Trader

shawky

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Post Number: 526
Registered: 11-2003

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Thursday, April 28, 2005 - 09:08 am:

Hi IT Trader

Yes I read the book and found it very interesting, but have forgotten most of what it was about. I should get it out of the library again. Seems to be popular so check you local libraries.

UTurn has summed it up quite nicely but like anything it is not the holy grail. Just another very good book on trading.

It is basically about a stock's spine which is like the regression line/channel, with major and minor spines for up and down trends. Tops/bottoms identified by the convergence of the channels/major trend lines. Tripwires - false breaks through obvious points of support/resistance/trend lines etc.

I did some analysis on AMP early last year trying to identify AMPs bullish/retracement spines back in the $16-$20 timeframe in order to apply them to the Stage 1 - 2 breakout last year. What I found interesting is that the lines worked. Unfortunately I did this work after getting stopped out during a major pull back.

regards
Shawky

julles

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Post Number: 1454
Registered: 01-2003

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Friday, July 01, 2005 - 12:16 am:

Trends and Trip wires .. Bill explained to me as Shawky wrote that most stocks follow a spine as such. Bill spent many years looking at the market to work out the spine lines, his words, well I've noticed there's plenty of buy and sell on major stocks on what he proposed were invisible lines to the rest of us.

I know U - Turn used it successfully for awhile but I could never master it, It just kept changing the damn lines !!!!

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