Bryce Gilmore - Trading with an Edge.pdf

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Trading
ith
an Edge. [cJ Bryce Gilmore 20 I
Bryce Gilmore's
A complete trading seminar
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By
Byce Gilmore
2n d Edition - All righs reserved [C] 2002
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Trading
an Edge . [c1 Bryce ilmore
ith
200 I
TWAE - Table of Contents:
Introduction:
1.
Markets - Pure, Impure and Manipulatd
3
Who are the Markets? 7
2.
3.
Preparations for Success: 11
4.
Tols of the Trade:
16
5.
Market Mechanics:
23
6.
Psychology of Trading: 27
7 .
Money Now, Later or Never: 32
8.
Money Management: 35
9.
Monitoring Your Progress: 40
10.
Trade Entry Techniques: 42
11. Initial Sops 8t Trailing Stops: 56
12. Trend Indicators: 60
13. Oen Interest in Futures Conracts: 69
14. The Opening Price, Trend and Day by Day: 73
15. New York World Trade Center Disaster: 92
16. Australian Share Price Futures: 96
17.
StP500 8t SPI200 Index Futures Tading:
128
Day Trading Short-term Pattern: 144
18.
19.
Position Trading: 160
20.
Soybean - Hisoy 8t Seasonaliy: 168
21.
Contingency . Plans: 180
22. Trading With an Edge: 183
Appendix Contents:
APP 1. Soybeans continuation to 13 Open Inerest and Repors Available: I-X
APP 2. Opening Prie t Geometric Levels:
I- IV
APP 3. Assortd Chars with notes:
XII
V-
APP 4. Liquidity: XIII-
V
Personal Note Pages:
A
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Trading with an Edge. [cJ Bryce Gilmore 2001
Suggestions on table of contents:
I highly recommend to you to create your own table of contents
list of important pages you wish to refer to regularly.
To list everything in this book will provide no initial help to the
user, read the book first rom cover to cover at least wice.
Highlight the pages you think you need to remind yourself of
regularly.
Read these pages at least once a week until you have commited
them to memoy.
If you do this you will ind you will get the greatest gain from the
valuable contents.
This text has been written more like a book than a technical
manual, most of the examples were written in real time as the
markets moved from day to day, the unexpected happened when
the TC was atacked. The author's personal style is reflected
throughout and as he felt something necessay to emphasize it
appears in the sequence.
Create a writen trading plan:
When you have created a personal trading plan you can reference
pages of this book to it.
Eveyone should have a written trading plan accompanied by a
list of known mistakes they have commited.
You will learn more about your strengths and weaknesses and be
able to correct them far more easily this way.
All your trades need to be reviewed ater they are concluded, you
need to make comments to yourself on how you managed your
trades and if you could have managed them beter. No wo trades
are exactly the same yet over time they will fall into categories.
Trading for a living is work, you must work at it to be successful.
Good Luck, I shouldn't say that because it is up to you to create
your own luck.
B
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Trading with
Edge. [c 1 Bryce Gilmore
200 I
an
2001
Trading with an Edge [c]
Bryce T. Gilmore.
Introduction:
I have been a full time trader in one form or another all my business
life, some
21
years ago, I decided to ty my hand at commodity
futures trading.
To begin with I had my ups and downs, luckily I was up in the
beginning so I persevered and decided to learn more about the
business of trading leveraged markets.
My first experience with trading futures markets is probably similar
to other business people who jump in the deep end and have a go,
because it sounds exciting. When you are used to running a
successful business and money is no object eveyone else's business
looks easy.
When I stated I knew nothing about charts or technical analysis,
only fundamentals. We had just been through a boom and bust in
Gold and people around me kept telling me stories of how you could
make a fotune trading the paper markets.
It all sounded too good to be true so I thought I will have a go. I
probably made all the mitakes possible in the
1t
3 months and my
broker loved me because I would make my margin calls on time and
keep having a go. Ater 3 months I did my sums and arrived at the
conclusion I was wasting my time. The only one making any money
over time was my broker. I had made
$26,000
in trading prois
$24,000
ater losses and he had taken
of it in commission. At the
time the commissions were enormous, I was paying
$160
a round
turn.
I decided to stop trading for a while and investigate some of the
things I had seen when I visited the brokerage trading room. They
had clerks in the ofice with chats and some computer equipment
pumping out signals to buy and sell at certain levels.
I had never done any work on my trading decisions prior to that, all
I had done is ring up the broker and ask him the price, he would give
me his advice and I would either go his way or against him,
depending how I felt from what I had read in the newspapers.
At times I just traded things that the broker recommended because
I wanted the action, I would ring the night desk and get an update
I
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